MUNSELL, JEANNE M. - Laserfiche WebLink

Home Browse Search

DocuSign Envelope in: A5414ED5-93ED-4AAA-A317-1ABE1 FC7AFIF WHEREAS, the Parties desire to avoid the expense, inconvenience, and uncertainties of further litigation and, therefore, the Parties have agreed, with no admission of liability by any Party, to enter into a complete and final settlement of all disputes, Claims (as defined in paragraph 6 below), and differences between them with respect to the Action; and NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained and other good and valuable consideration, receipt of which is hereby acknowledged, and to avoid unnecessary litigation, it is hereby agreed by and between the Parties as follows: TERMS OF SETTLEMENT AGREEMENT 1. Stipulation for Dismissal of Action. Within five (5) business days of the later to occur of the following events, the City will file a dismissal of this Action: (a) delivery by Buyer of an executed copy of the Compliance Agreement in accordance with paragraph 2, below; (b) delivery by Respondent Deutsche Bank of an executed copy of this Agreement to Assistant City Attorney Jose Montoya; and (c) payment of the amounts identified in paragraph 3, below. 2. Compliance Agreement. Concurrently with this Agreement, the City will execute a Compliance Agreement ("Compliance Agreement") with Buyer to ensure the proper compliance with the operational restrictions, maintenance, and upkeep of the Property, improvements, and permitted uses. A copy of the Compliance Agreement is attached hereto for reference purposes only as Exhibit "A". The Parties acknowledge and agree that following the full execution of the Compliance Agreement any issues related to the performance by Buyer under the terms of the Compliance Agreement shall not involve Respondent Munsell and Respondent Munsell shall have no responsibility or liability for said performance or for any other issues related to the Compliance Agreement. 3. Staff Time, Reasonable Attornev's Fees, Abatement Costs. In consideration for the final settlement of this Action, and in accordance with the terms of this Agreement and Compliance Agreement, Respondent Munsell stipulate and agree that the City of Santa Ana will be paid a total of Seventeen Thousand U.S. Dollars ($17,000) in staff time, abatement costs, reasonable attorney's fees and other associated damages incurred in this Action. The Parties agree that the payment shall be made by the Buyer in accordance with the Compliance Agreement. This payment shall be made payable to the City within thirty (30) days of the execution of this Agreement. The Settlement Payment shall be made to "City of Santa Ana" as follows: City of Santa Ana, Santa Ana City Attorney's Office, 20 Civic Center Plaza, M29, P.O. Box 1988, Santa Ana, California 92702. 4. Withdraw of Lis Pendens. City agrees to withdraw the recorded Notice of Pendency of Action filed at the Orange County Clerk - Recorder's Office against the Property at the time of dismissal of this Action. 2