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Fab Films, LLC, v. Jpmorgan Chase Bank, N.A.

United States District Court, C.D. California

July 21, 2017

FAB FILMS, LLC, as Trustee, Plaintiffs,
v.
JPMORGAN CHASE BANK, N.A.; CALIFORNIA RECONVEYANCE COMPANY; and DOES 1-10 inclusive, Defendants. JPMORGAN CHASE BANK, N.A., an Acquirer of Certain Assets and Liabilities of Washington Mutual Bank from the Federal Deposit Insurance Corporation as Receiver, Cross-Complainant,
v.
FAB FILMS, LLC, as Trustee; BLUE HORSE TRADING, LLC, a California Limited Liability Company; JOSEPH FRANCIS, an individual; CHICKIE LEVENTHAL; TRACY PRICE; INTERNAL REVENUE SERVICE; PALLADINO & SUTHERLAND, INC.; GIRARD GIBBS LLP; CRYSTAL TAUNTON; ANDREW GILBERT; WILLIAM TABET; COUGHLIN STOIA GELLER RUDMAN & ROBBINS LLP; CITI COMMUNICATIONS FINANCE CORPORATION; HOWREY LLP; STEPHEN WYNN; STATE OF CALIFORNIA FRANCHISE TAX BOARD SPECIAL PROCEDURES SECTION; INTERNATIONAL FIDELITY INSURANCE COMPANY; TAMARA FAVAZZA; BRIAN J. RAYMENT; and WYNN LAS VEGAS, Cross-Defendants.

          JOHN M. SORICH (CA Bar No. 125223), HEATHER E. STERN (CA Bar No. 217447), Parker Ibrahim &Berg LLC, Attorneys for Defendants JPMORGAN CHASE BANK, N.A. and CALIFORNIA RECONVEYANCE COMPANY and Cross-Complainant JPMORGAN CHASE BANK, N.A., an Acquirer of Certain Assets and Liabilities of Washington Mutual Bank from the Federal Deposit Insurance Corporation as Receiver

          JUDGMENT OF FORECLOSURE AND ORDER OF SALE

          PHILIP S. GUTIERREZ, DISTRICT COURT JUDGE

         The above-entitled matter came on regularly for trial on April 4, 2017, the Honorable Philip S. Gutierrez, Judge Presiding. All appearances were as noted on the record.

         Having fully considered the Motion for Summary Adjudication of Claims and Defenses of Defendants JPMorgan Chase Bank, N.A. (“Chase”) and California Reconveyance Company (“CRC”) (together, “Defendants”) and Cross-Complainant JPMorgan Chase Bank, N.A., An Acquirer Of Certain Assets And Liabilities Of Washington Mutual Bank From The Federal Deposit Insurance Corporation As Receiver (“Cross-Complainant”) in this action (Docket No. 104), and all papers filed related thereto; and the issues with respect to that motion having been duly heard and an Order Granting Defendants' Motion for Summary Judgment and Denying Plaintiff's Rule 56(d) Request having been duly entered (Docket No. 119); and having fully considered the evidence presented at trial in this matter by way of declaration in lieu of direct testimony pursuant to Local Rule 43.1, which was adopted by the respective witnesses orally in open court, as well as the Request to Take Judicial Notice, and the pleadings, papers, and records of this action, and all other evidence presented at the Court trial in this matter on April 4, 2017; and GOOD CAUSE APPEARING, IT IS HEREBY ORDERED, ADJUDGED AND DECREED THAT:

         Judgment shall be entered in favor of Defendants and Cross-Complainant, and against Plaintiff Fab Films, LLC, and each of the Cross-defendants, on the terms set forth in the following paragraphs:

         1. The Court orders that the real property (the “Property”) commonly known as 1111 Bel Air Place, Los Angeles, California 90077, and legally described as follows:

LOT 7 OF TRACT NO. 13772, IN THE CITY OF LOS ANGELES, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 285, PAGES 33 TO 35, INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. TOGETHER WITH THAT PORTION OF BEL-AIR PLACE AS SHOWN ON TRACT NUMBER 13772 AS PER MAP RECORDED IN BOOK 285 PAGES 33, 34 AND 35 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF LOS ANGELES COUNTY VACATED BY RESOLUTION ON 05-1400622, RECORDED OCTOBER 17, 2005 AS INSTRUMENT NO. 05-2493512, OFFICIAL RECORDS, AND THAT WOULD PASS WITH A LEGAL CONVEYANCE OF LOT 7.

be sold in the manner prescribed by law, and that a writ of sale be issued to the United States Marshals Service, ordering and directing the U.S. Marshal to conduct such sale.

         2. Any party to this action may purchase the Property at the sale. From the sale proceeds, the Court shall pay to Cross-Complainant, from all or such sums as may be sufficiently obtained from the sale, (i) the expenses of levy and sale advanced by Cross-Complainant, plus (ii) the total indebtedness of $6, 275, 966.88 together with interest accruing at the rate of 4.0% from April 4, 2017 at a daily rate of $540.86 per day, which sums are secured by the Deed of Trust set forth in the Cross-Complaint, and which sums may be credit bid by Cross-Complainant at the sale.

         3. If any surplus remains after the payment specified herein, the surplus shall be paid to the United States of America, Internal Revenue Service, pursuant to its Notices of Federal Tax Lien (NFTLs) filed against the Subject Property and cross-defendants Joseph Francis and Blue Horse Trading, LLC. If any surplus remains after payment of the NFTLs, the funds shall be interpleaded and deposited into the registry of the Court, wherein any remaining judgment creditor/lienholder can apply to the Court for distribution.

         4. There is no Cross-Defendant against whom a deficiency judgment may be ordered or who is claimed to be personally liable for payment of the sums secured by the Deed of Trust.

         5. On completion of the sale, the U.S. Marshal shall execute a deed of sale to the purchaser, who may then take possession of the Property, if necessary, with the assistance of the United States Marshals Service.

         6. Cross-Defendants Joseph Francis and Fab Films, LLC, all persons claiming from or under him or it, all persons and their personal representatives having liens subsequent to the Deed of Trust by judgment or decree on the described real property, all persons and their heirs or personal representatives having any lien or claim by or under such subsequent judgment or decree, all persons claiming under them, and all persons claiming to have acquired any estate or interest in the Property are ...


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