|
<br />e
<br />
<br />e
<br />
<br />shall equal EIGHTY EIGHT THOUSAND ONE HUNDRED SEVENTEEN
<br />AND 5011 00 DOLLARS ($88,117.50)
<br />
<br />f. By executing this ASA, City and Tenants are creating a tenancy for years, where
<br />Tenants, jointly and severally, shall pay to City a total monthly rental fee for the
<br />Property in the amount of FOUR HUNFRED TWENTY FIVE AND NOll 00
<br />DOLLARS ($425.00), due and payable on the first day of each month. The tenancy
<br />between the Parties shall commence on October I, 2007 and terminate on January 31,
<br />2008.
<br />
<br />2. Failure to Vacate the existing building and other improvements from the Property
<br />
<br />a. Tenants agree to vacate the Property not later than January 31, 2008 ("Vacate Date").
<br />Tenants shall be jointly and severally liable for payment to City of a rental fee of
<br />TWO HUNDRED AND NOl100 DOLLARS ($200,00) for each and every day
<br />Tenants remain in possession of the Property after the Vacate Date, which rental fee
<br />shall be proportionally deducted as an offset from the final payment to Tenants as
<br />described in section I (c), above.
<br />
<br />b. As of the Vacate Date, if Tenants have not removed all oftheir moveable personal
<br />property, furniture and equipment from the existing building(s) and other
<br />improvements to the Property, Tenants authorize City to remove said items at
<br />Tenant's sole cost and expense, which expense shall be deducted as an offset from
<br />Tenant's final payment as described in section I (c), above.
<br />
<br />3. Release
<br />
<br />a. Tenants, individually and collectively, on behalf of themselves, their agents, assigns
<br />and related entities, agree to indemnify, fully release, acquit and discharge City, and
<br />the officers, directors, employees, attorneys, accountants, other professionals, insurers
<br />and agents of City (collectively "Agents") and all entities related to City, from any
<br />and all rights, claims, interests, demands, actions or causes of action which Tenants
<br />now have or may in the future have against City arising from the acquisition of the
<br />Property, including, but not limited to, trade fixtures, furniture and equipment,
<br />leasehold interests, and claims for loss of business goodwill, bonus value (if any)
<br />and/or severance damages (if any).
<br />
<br />b. No Party, nor any Agents, nor any related entities, to this ASA have made any
<br />statement or representation to any other Party regarding any fact relied upon in
<br />entering into this ASA, and each party expressly states it does not rely upon any
<br />statement, representation or promise of any other Party or any Party's Agent or related
<br />entities in executing this ASA, except as is expressly stated in this ASA. Each Party
<br />to this ASA has made such investigation of the facts and law pertaining to this ASA,
<br />and of all other matters pertaining hereto, as it deems reasonable, necessary and/or
<br />appropriate, and has consulted with legal counsel concerning the matters contained
<br />herein.
<br />
<br />Acquisition Settlement Agreement
<br />Page 3 of8
<br />
<br />
|