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INSURANCE NOT REQUIRED A-2020-070 <br />WORK MAY PROCEED <br />CLERK OF COUNCIL APR 2 0 2020 <br />AGREEMEN3 FOR COMPENSATION FOR LOSS OF BUSINESS GOODWILL <br />This Agreement for Compensation for Loss of Business Goodwill ("Agreement") is made <br />by and between the City of Santa Ana, a charter city and municipal corporation organized and <br />existing under the Constitution and laws of the State of California ("City"), and Chandrakant R. <br />" Bella C. Manchandia dba Chandrakant R. Manchandia, D.D.S. ("Business"). City and Business <br />Nshall collectively be referred to as the "Parties". <br />0 <br />RECITALS <br />A. On or about November 2, 2016, through a voluntary sale, City acquired the real <br />property at I I I I North Bristol Street, in the City of Santa Ana, Assessor Parcel No. 405-274-10 <br />("Property"), for purposes of the Bristol Street Widening Project Phase 3A, resulting in <br />displacement of the Business. <br />B. The Business had an interest in the Property as a Lessee but voluntarily ceased <br />operations on or about March 14, 2017, and later relocated to 1915 W. I" Street, Unit B, in the <br />City of Santa Ana. <br />C. The Business has already been provided relocation benefits and been <br />compensated by City for its tenant -owned improvements and movable items and seeks further <br />compensation for loss of goodwill value that it has allegedly suffered as a result of displacement. <br />D. City has agreed to provide such compensation for loss of business goodwill based <br />on a study it has had prepared to determine the loss of goodwill value. <br />E. By this Agreement, the parties desire to settle all present, past and future <br />controversies, claims, causes of action or purported causes of action, defenses, and disputes, both <br />real and potential, which the Business may have against City with respect to City's acquisition <br />and use of the Property and any claim for loss of goodwill which have not been previously <br />resolved. <br />NOW, THEREFORE, in consideration of the mutual promises and mutual covenants set <br />forth herein, the receipt and adequacy of which is hereby acknowledged, the Parties agree as <br />follows: <br />RECITALS <br />The Recitals are incorporated into and are made a part of this Agreement. The purpose of <br />this Agreement is to resolve, in their entirety, all present, past and future controversies, claims, <br />causes of action or purported causes of action, defenses, and disputes, both real and potential, <br />which the Business may have against City with respect to City's acquisition and use of the <br />Property and any claim for loss of goodwill which have not previously been resolved. <br />Page 1 of 4 <br />