STIPULATION AND [PROPOSED] ORDER RE: (1) APPROVAL OF LETTER OF CREDIT, AND (2) STAY OF JUDGMENT PENDING APPEAL

ROBERT S. LASNIK, District Judge.

I. STIPULATION

Plaintiff Weiss-Jenkins IV, LLC, n/k/a Weiss Company IV, LLC ("Plaintiff") and Defendants Utrecht Manufacturing Corporation ("Utrecht") and Dick Blick Holdings, Inc. ("Dick Blick") (collectively, "Defendants"), by and through their undersigned counsel, hereby stipulate and agree as follows:

1. On September 9, 2016, the Court issued an Amended Final Judgment in favor of Plaintiff as Judgment Creditor in the amount of $1,134,920.54 (the "Judgment"). See ECF-105.

2. This matter is presently on appeal before the Ninth Circuit Court of Appeals, Case No. 16-35552 (the "Appeal").

3. Plaintiff and Dick Blick are agreed that a Letter of Credit is an appropriate form of security for the Appeal.

4. On behalf of Dick Blick, JP Morgan Chase Bank N.A. has issued and delivered to Plaintiff an Irrevocable Standby Letter of Credit in the amount of $1,250,000 with Plaintiff as the named beneficiary (the "LOC").

5. The LOC is functionally analogous to a supersedeas bond and, subject to the Court's approval of the LOC and entry of the subjoined Order, the Judgment should be stayed pending the Appeal in accordance with Fed.R.Civ.P. 62(d) so long as the LOC remains in effect.

SO STIPULATED AND AGREED.

II. ORDER

Consistent with the foregoing stipulation of the parties:

1. The Court approves of the LOC as security for the Appeal functionally analogous to a supersedeas bond.

2. In accordance with Fed.R.Civ.P. 62(d), the Judgment herein is stayed so long as the LOC remains in effect.

It is so ORDERED.