The opinion of the court was delivered by: Judge: Garland E. Burrell, Jr.
JOINT STIPULATION TO CONTINUE HEARING ON ORDER TO SHOW CAUSE RE: PRELIMINARY INJUNCTION AND [PROPOSED] ORDER Date: April 8, 2013 Time: 9:00 A.M. Place: Courtroom 10, 13th Floor
Date Action Filed: January 14, 2013
Defendants PNC BANK, N.A. ("PNC") and HSBC BANK U.S.A., N.A., as Trustee for Luminent Mortgage Trust 2007-2 ("HSBC")*fn1 (collectively "Defendants") and Plaintiffs THOMAS A. WEBER and BELINDA G. WEBER (collectively "Plaintiffs"), by and through their counsel of record, hereby stipulate and agree as follows:
1. WHEREAS, Plaintiffs filed their Complaint on January 14, 2013 in Placer County Superior Court;
2. WHEREAS, the underlying issue of this action is Plaintiff's Civil Code section 2923.5 allegation that Defendants did not contact them to discuss possible alternatives to non-judicial foreclosure and to assess their financial situation prior to recording a notice of default against the real property at 8972 Bronson Drive, Granite Bay, California 95746 ("Property");
3. WHEREAS, on January 16, 2013, the Court issued a temporary restraining order temporarily enjoining foreclosure proceedings as to the Property. The Court set a January 29, 2013 Order to Show Cause hearing as to Plaintiffs' request for a preliminary injunction;
4. WHEREAS, on January 28, 2013 parties stipulated to continue OSC re preliminary injunction to engage in preliminary settlement negotiations;
5. WHEREAS, on February 15, 2013 Defendants removed this action to Federal Court;
6. WHEREAS, on February 22, 2013 Parties stipulated to keep the temporary restraining order in effect to allow Defendants sufficient time to respond to request for preliminary injunction;
7. WHEREAS, a preliminary injunction hearing is currently set for April 8, 2013;
8. WHEREAS, the parties wish to continue to engage in preliminary settlement negotiations that may resolve the case. Both Plaintiffs and Defendants intend to engage in settlement negotiations in good faith;
9. WHEREAS, to allow the parties the additional time to engage in the settlement negotiations and process, reduce the costs of litigation for all parties, and unburden the Court's docket, Plaintiffs and Defendants, by and through their undersigned counsel, agree, stipulate and request that the Court continue the April 8, 2013 Order to Show Cause hearing fourteen (14) days on or after April 22, 2013;
10. The parties further agree, stipulate and request that the Court's temporary restraining order remain in effect until the continued Order to ...