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vinesign Document IU: 4U'Ltit-I-E9-1'LU4-4ti4U-tS.1LU-lUI U/U9UUHil- N-2024-335
<br /> OCT 0 4 2014 SETTLEMENT AGREEMENT AND RELEASE
<br /> 0 coo (o')
<br /> 4e Ne6esen(KF This SETTLEMENT AGREEMENT AND RELEASE(hereinafter"Settlement Agreement"
<br /> or "Release") is entered into by and between Plaintiff, MIGUEL ANGEL TORRES-LARA
<br /> (hereinafter"Plaintiff'), and Defendants,UNITED PUMPING SERVICE,INC.,JOSE MANUEL
<br /> PONCE VELAZQUEZ and CITY OF SANTA ANA, and any and all affiliates, related entities,
<br /> agents, independent contractors, insurers, owners, partners and employees (hereinafter
<br /> "Defendants").
<br /> RECITALS
<br /> A. On or about September 8, 2022, Plaintiff filed a Complaint for Damages in the
<br /> Superior Court of the State of California,County of Orange-Unlimited Jurisdiction,Case No. 30-
<br /> 2022-01279737-CU-PA-CJC8 ("Civil Action"). The exact form and substance of Plaintiff's
<br /> allegations in the subject Civil Action are set forth in the Complaint,which are denied by Defendants
<br /> in its entirety.
<br /> B. On or about July 15,2024,Plaintiff and Defendants reached a settlement of the Civil
<br /> Action,the terms of which are set forth below.
<br /> AGREEMENT
<br /> In consideration of the settlement amount of a total of$2,400,000.00 (Two Million Four
<br /> Hundred Thousand Dollars and No Cents),the releases referred to below,and the mutual waiver of
<br /> court costs, Plaintiff and Defendants, agree to the following:
<br /> 1. Payment Terms.Defendants will pay Plaintiff,MIGUEL ANGEL TORRES-LARA,a
<br /> total of$2,400,000.00(Two Million Four Hundred Thousand Dollars and No Cents),in combination
<br /> of cash payment and periodic payments to be funded, for full and final settlement of the above
<br /> referenced matter as follows:
<br /> • $2,100,000.00 payable to Banafshe Law Firm,Inc.Client Trust Account inclusive of
<br /> cash, attorney fees, costs and medical liens;
<br /> • $300,000.00 payable to Pacific Life & Annuity Services, Inc. to fund the future
<br /> periodic payments outlined as follows:
<br /> o $180,790.11 payable monthly, guaranteed for 2 months, beginning on
<br /> 04/29/2029,with the last guaranteed payment paid on 05/29/2029("Periodic
<br /> Payments").
<br /> All sums set forth herein constitute damages on account of personal physical injuries or
<br /> sickness, within the meaning of Section 104(a)(2) of the Internal Revenue Code of 1986, as
<br /> amended.
<br /> 2. Payee's Rights to Payments. Plaintiff acknowledges that the Periodic Payments
<br /> cannot be accelerated, deferred, increased or decreased by the Plaintiff or any payee; nor shall the
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<br /> The signed document can be validated at https://app.vinesign.comNerify
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