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Petitioner for their review and approval before sending to the City for approval, in return <br />Petitioner agreed that it would not object to the Project before the City. Petitioner and <br />AC 2525 have each alleged that the other party has breached the Settlement <br />Agreement. <br />G, WHEREAS, in the interest of avoiding the risk and expense of further <br />litigation, the Parties now wish to settle the remaining claims set forth in the Amended <br />Petition and any claims (alleged or otherwise) regarding the Settlement Agreement, in <br />accordance with the terms and conditions set forth in this Agreement. <br />NOW, THEREFORE, for good and valuable consideration, the receipt of which is <br />hereby acknowledged, the Parties hereby agree as follows: <br />AGREEMENT <br />1. No Reliance on the Final EIR. Upon full execution of this Agreement, <br />AC 2525 and the City agree that they and their successors and assigns shall not rely on <br />or use the certified Final EIR, or any portion thereof, for any future development of the <br />Property. AC 2525, and its successors and assigns, further agree that it shall not object <br />to any City action (whether administrative or legislative in nature), if initiated by the City, <br />whereby it rescinds certification of the Final EIR. Nothing in this Agreement obligates <br />the City'to rescind the Final EIR. <br />2. Settlement Payment. AC 2525, shall remit a payment of $15,000.00 to <br />Petitioner by December 31, 2024 ("Settlement Payment"). The Settlement Payment <br />shall be made to Petitioner's attorney of record, Newmeyer & Dillion LLP's client trust <br />account. AC 2525 and Petitioner shall use their best efforts (including but not limited to <br />providing any and all reasonably necessary documents) to ensure and facilitate timely <br />payment of the Settlement Payment. <br />3. Dismissal of Petition. Within five (5) court days of full execution of this <br />Agreement, and payment of the Settlement Payment, Petitioner shall take all <br />appropriate steps to dismiss any and all outstanding claims related to the Petition and <br />the Amended Petition, with prejudice. <br />3. Petitioner's Right to Challenge Proposed Protect. For clarification, <br />Petitioners shall retain the right to object (via their respective public forums or <br />otherwise) to any future development project that may be submitted to the City for <br />approval by AC 2525, or its successors and assigns in the future on this Property. <br />4. General Release. <br />(a) In consideration of the covenants and agreements set forth in this <br />Agreement, and other good and valuable consideration, receipt of which is hereby <br />acknowledged, each Party releases and forever discharges each other Party and their <br />respective predecessors, heirs, successors, and assigns, and their respective agents, <br />4516,101116050313.1 <br />