STIPULATION AND PROPOSED ORDER REGARDING RELATIVE PRIORITY BETWEEN PLAINTIFF THE UNITED STATES OF AMERICA AND DEFENDANT PNC BANK

RICHARD F. BOULWARE, II, District Judge.

Plaintiff, the United States of America, and defendant PNC Bank N.A. ("PNC") agree as follows:

1. This is a civil action brought by the United States of America to reduce to judgment federal tax assessments against Defendants Keith and Carmela Warner (the Warners) and to foreclose federal tax liens against certain real property located at 6624 Johnny Love Lane, North Las Vegas, NV 89086 (the Property), A.P.N.:124-23-314-019 and is more particularly described as follows:

2. PNC was named as a defendant pursuant to the requirements of 26 U.S.C. § 7403(b) because it may claim an interest in the Property. The United States claims no monetary relief against PNC in this action.

3. PNC does not challenge the amount or validity of the Internal Revenue Service assessments as alleged in the First Amended Complaint (ECF No. 15)(FAC) paragraphs 21 or 29.

4. PNC does not challenge the sums secured by, or the validity of, the Notices of Federal Tax Lien as alleged in the FAC paragraphs 12, 13, and 14.

5. PNC does not challenge that the Property is encumbered by the United States' Notices of Federal Tax Lien as alleged in the FAC paragraphs 12, 13, and 14.

6. PNC's interest in the Property, based upon the assignment (recorded with the Clark County Recorder October 30, 2018) of Evergreen MoneySource Mortgage Company's Deed of Trust recorded July 27, 2012, is senior to, and has priority over, the United States' federal tax liens.

7. PNC does not object to the issuance of final order or decree permitting the United States to enforce its tax liens referenced above by way of sale of the Property.

8. In the event that the Court permits the sale of the Property, it will be sold free and clear of all liens of record and free of any interest PNC has in the Property, with the liens and PNC's interest to attach to the proceeds of the sale in the same amount and with the same priority that they had against the Property. The proposed Order of Judicial Sale shall provide that the sale proceeds shall be distributed in accordance with priority as agreed in paragraph six (6) above. If the affected parties cannot stipulate to the amount of PNC's interest or claim to the proceeds of the sale, PNC shall file its claim to the proceeds of the sale within 30 days after the Court confirms the sale of the Property, and the United States or any other affected party may file written objections within 14 days thereafter. The Court may then issue subsequent orders requiring additional written briefing and/or hold evidentiary or other hearings as it may deem necessary to determine the appropriate amount of PNC's claim.

9. The United States and PNC will not seek an award of their respective costs related to this litigation, including any possible attorney's fees, from the Court. PNC reserves the right to recover its fees pursuant to 26 U.S.C. § 6323(e).

10. Unless otherwise ordered by the Court, PNC is excused from further participation in this action, appearing in Court, or otherwise asserting its claim in this case.

11. PNC will be bound by the judgment in this case, which shall incorporate the terms of this stipulation.

12. The United States and PNC jointly request the Court to enter the following proposed order

Order Approving Stipulation

The foregoing Stipulation is approved.

It is so ordered.