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Therefore, in consideration of the promises, covenants and agreements hereinafter set forth, and <br />subject to the terms, conditions and provisions of this ASA, the Parties agree as follows: <br />Consideration <br />a. City agrees to pay Tenant, in accordance with the disbursement schedule <br />referenced in section 1(b)&(c), below, the total sum of TWO HUNDRED <br />SEVENTY TWO THOUSAND AND NO/100 DOLLARS ($272,000.00) as <br />compensation for relocation assistance and/or other relocation benefits to <br />which Tenant may be entitled, and any and all loss of business goodwill, <br />leasehold interests, personal property, improvements pertaining to realty, bonus <br />value, severance damages, and any and all other damages to which Tenant may <br />be entitled as a result of City's acquisition of the Acquired Property for the <br />Project. <br />b. Upon execution of this ASA, City will process an initial payment to Tenants in <br />the amount of TWO HUNDRED THOUSAND AND NO/100 DOLLARS <br />($200,000.00). Payment will be made directly to Tenant. <br />c. City will process a second and final payment to Tenants in the amount of <br />SEVENTY TWO THOUSAND AND NO/100 DOLLARS ($72,000.00) upon <br />satisfactory evidence to City that the following conditions have been satisfied: <br />Tenant has (1) vacated the Property, (2) executed and delivered to City a <br />Certificate of Abandonment of the Property, (3) turned over all sets of keys to <br />the City or to its agents, and (4) confirmed in writing to City that any and all <br />hazardous materials have been removed from the Property in accordance with <br />all applicable federal and state laws, ordinances and/or regulations. Each <br />payment referenced in this paragraph shall be subject to offsets as described in <br />section 2(a) below. Payment will be made directly to Aurora Angel. <br />d. Payment of the consideration referenced in section 1 of this ASA, shall constitute <br />full satisfaction of any and all of City's obligations to compensate Tenant. <br />e. As a matter of record, the compensation paid to Tenant in accordance with this <br />ASA shall be proportioned in the following amounts: Relocation benefits <br />shall equal $200,000. Payment for any loss of furniture, fixtures and equipment, <br />bonus value, improvements to realty, business goodwill, and/or severance <br />damages shall equal $72,000. <br />2. Failure to Vacate the existing building and other improvements from the PropertX <br />a. Tenant agrees to vacate the Property not later than December 31, 2008 ("Vacate <br />Date"). Tenant shall be jointly and severally liable for payment to City of a <br />rental fee of TWO HUNDRED AND NO/100 DOLLARS ($200.00) for each <br />and every day Tenants remain in possession of the Property after the Vacate <br />Date, which rental fee shall be proportionally deducted as an offset from the <br />final payment to Tenants as described in section 1(c) above. <br />Acquisition Settlement Agreement <br />Page 2 of 8 <br />25Q-14 <br />