STIPULATION TO EXTEND DEADLINE FOR FILING SETTLEMENT DOCUMENTS AND ORDER [PROPOSED]
Plaintiff United States of America and claimants Ronald Hennig, Patience, Inc., and America's Servicing Company as nominee for Mortgage Electronic Registration Systems, Inc. (hereafter "ASC"), hereby stipulate that a 60 day extension of the deadline for filing settlement documents in the above case is necessary, and request that the Court enter an order extending the deadline for 60 days. This stipulation is based on the following:
1. On or about February 5, 2009, the parties to this action (plaintiff United States of America, claimant Ronald Hennig, individually and as the president of Patience, Inc., and lienholder America's Servicing Company as nominee for Mortgage Electronic Registration Systems, Inc.) reached a settlement, and on February 5, 2009, plaintiff filed a Notice of Settlement.
2. The parties to the settlement have been diligently preparing the settlement documents and were prepared to file them on March 2, 2009, the deadline set forth in the Court's February 5, 2009, minute order.
3. On March 2, 2009, attorney for claimant Henning advised plaintiff's counsel of the possible existence of a large lien ($150,000) that had not been addressed in the settlement documents. Plaintiff was unaware of any such lien because no such lien had listed in the title report plaintiff had obtained prior to filing the Complaint in this action.
4. Plaintiff conducted some preliminary research on March 2, 2009, and has determined that after this action was commenced, and after plaintiff recorded a lis pendens, Bank of America loaned claimant Hennig approximately $150,000.
5. The parties recognize that this case cannot be settled without addressing this new lien, and request 60 days to make further inquiries. Plaintiff will serve Bank of America with the Complaint and related documents as soon as it obtains current and complete information about this lien.
6. The parties believe that this case can still be settled on the terms previously agreed upon because it appears that there is sufficient equity to pay all liens, including the newly-discovered Bank of America liens. However, until the parties can determine the validity of this lien it would be unwise to file settlement documents.
Attorney for claimant America's Servicing Company as Nominee for Mortgage Electronic Registration Systems, Inc. (Original signatures of claimants' attorneys retained by plaintiff's counsel)
For the reasons set forth above, the deadline for filing the settlement documents is extended to May 4, 2009. At that time the parties will file the settlement documents or advise the Court if more time is needed to address the Bank of America lien.
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