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Last modified
4/23/2021 2:30:15 PM
Creation date
10/12/2020 12:06:19 PM
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Contracts
Company Name
AUSTIN BRITO
Contract #
A-2020-198
Agency
CITY ATTORNEY'S OFFICE
Council Approval Date
7/7/2020
Insurance Exp Date
1/1/2001
Destruction Year
0
Notes
INSURANCE NOT REQUIRED
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9, Failure to Satisfy Section 130(c). If at any tIms prior to completion of the Periodic Payments, the <br />Settlement Agreement is declare dd terrrdnat(ad In a final, non -appealable order of a court of competent <br />Jurisdiction (or in the case of a workers' compensation settlement, a final order of the applicable <br />workers' compensation authority) or if it Is determined In any such final order that the re uirements of <br />Section 13%) of the Code have not been satisfied In connection with this Agreement: (I1 the <br />assignment bby Assignor to Aasignse of the liability to make the Periodic Pa menu Asslgnea's <br />aocepfancs of such assignment and the release by Claimant(s) of Assignor s liabil�ty shall be of no <br />force or effect; (il) Aealgnee shall be conclusively deemed to be eating as the agent of Assignor, (lit) <br />the Annuity shall be owned by Assignor, which shall retain the liability to make the Periodic <br />Payments; (Iv) Assignee shall have no liability to make any Perlodlo Payments; and (v) the parties <br />hereto no <br />(o cooparste in taking such actions as may be necessary or appropriate to Implement <br />tha foregoing. <br />10. Governing Law; Disclosure of Certain Tax Information; Binding Effect. <br />(1) This Agreement shall be governed by and Interpreted in accordance with the internal laws of the <br />State of Delaware; provided, however, that any Transfer of Payment Rights under this Agreement <br />may be subject to the laws of other states in addition to the state designated above. <br />This Agreement shall be binding upon the parties hereto and their respec0ve successors, heirs, <br />executors, administrators and permitted assigns, including without limitation any party asserting <br />an Interest In Payment Rights. <br />11, Advice, Comprehension of Agreement. In entering into this Agreement, each Claimant represents <br />and warrants that (1) such Claimant has relied solely upon the legal and tax advice of ouch Claimant's <br />own atforneysand other advisors, who are the attorneys and advisors of such Claimanfa choice, <br />concerning the legal and Income tax consequences of this Agreement; and (II) the terms of this <br />Agreement have been completely read by and explained to such Claimant and are fully understood <br />and voluntarily accepted by such Claimant, <br />12. Description of Periodic Payments. The Periodic Payments are as set forth Immediately below or (if <br />not set forth below) as set forth in attached Addendum No, 1, which Is hereby incorporated In and <br />made a part of this Agreement. <br />Description of Periodic Payments: <br />$12 250 QO Lump um Payment nt on 05/04/2035 <br />$12,250.00 Lump Sum Payment on 05/04/2038 <br />_ $12,250.00 Lump Sum Payment on 05/04/2041 <br />$12,250.00 Lump Sum Payment on 05/04/2044 <br />$12,250,00 Lump Sum Payment on 05/04/2047 <br />$12,250.00 Lump Sum Payment on 05/04/2050 <br />Periodic payments payable to: Yaneli Alonso (as paraent and guardian): <br />$5,000.00 Lump Sum Payment on 12/15/2020 <br />Page 3 Version v12.00/rl2.00 - QAR <br />
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