STIPULATION AND ORDER FOR TEMPORARY STAY OF ENTIRE CASE PENDING SETTLEMENT

(First Request)

RICHARD F. BOULWARE, II, District Judge.

Plaintiffs, Federal Home Loan Mortgage Corporation and JPMorgan Chase Bank, N.A. ("Plaintiff") and Defendant, Prairie Rose Homeowners Association ("HOA"), by and through their respective attorneys stipulate as follows:

INTRODUCTION

1. On March 9, 2018, this court entered an order directing Plaintiffs to take action against HOA by April 8, 2018 or the court shall enter an order of dismissal for want of prosecution. ECF No. 23.

2. On April 20, 2017, the clerk of the court entered default against Defendant Newport Coast Management Group, Inc. ("Newport"). ECF No. 21.

3. On may 15, 2017, Plaintiffs filed their motion for default judgment against Newport. ECF No. 22.

4. On March 30, 2018, the court entered an order and declaratory judgment against Newport stating that Newport has not established title or any interest in the Property and finding that Newport never acquired legal title or interest in the Property and abandoned any interest it may ever have acquired in the Property (the "Order"). ECF No. 24. The Order provided Plaintiffs with the primary relief sought in this action. See Complaint, ECF No. 1.

5. On April 4, 2018, HOA filed its answer. ECF No. 26

6. In light of the Order, Plaintiffs and HOA agree that the remaining claims against HOA can be resolved though informal settlement negotiations. The parties further agree that these negotiations will result in a stipulated dismissal of the remaining claims against HOA.

7. Given the forthcoming resolution of the remaining claims against HOA and to avoid wasting resources and incurring potentially unnecessary expense associated with discovery and continued litigation, Plaintiffs and HOA agree and request a stay of the case to give each side sufficient time and resources to finalize settlement. This stipulation is made in good faith and not for the purpose of delay.

ORDER

IT IS SO ORDERED.