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B. Upon execution of this ASA by all Parties, City will process an initial payment to
<br />Tenant in the amount of FOUR HUNDRED NINETY THOUSAND AND NO/100
<br />DOLLARS ($490,000.00).
<br />C. City will process a second payment to Tenant in the amount of SEVENTY
<br />FIVE THOUSAND AND NO/100 DOLLARS ($75,000.00) upon satisfactory evidence to
<br />City that Tenant has satisfied the following conditions: Tenant has (1) vacated the Property,
<br />(2) executed and delivered to City a Certificate of Abandonment of the Property, (3)
<br />surrendered to City or its designated Agents all sets of keys to the Property, (4) confirmed in
<br />writing to City that any and all hazardous materials have been removed from the Property in
<br />accordance with all applicable federal and state laws, ordinances and/or regulations, and (5)
<br />the conditions stated in Section 2 of this ASA have been satisfied as determined by City in its
<br />sole and absolute discretion. Each payment referenced in this Section shall be subject to
<br />offsets as described in Sections 2(A), 2(B) and 2(C), below, and Section 4(D) of the License
<br />entered into by the Parties.
<br />D. Tenant's receipt of full payment of the consideration referenced in Sections 1(A), 1(B)
<br />and 1(C), above, shall constitute full satisfaction of any and all of City's obligations to
<br />compensate Tenant for City's acquisition of the Property for the Project, including, but not
<br />limited to, compensation for any and all past, present or future costs, expenses, payments,
<br />claims or benefits to which Tenant is or may be entitled, and any and all loss of business
<br />goodwill, leasehold interests, security deposit(s), personal property, improvements pertaining to
<br />realty, bonus value, and/or severance damages.
<br />E. As a matter of record, the compensation paid to Tenant in accordance with this ASA
<br />shall be apportioned in the following amounts: Relocation benefits shall equal TWENTY
<br />THOUSAND AND NO/100 DOLLARS ($20,000.00); Payment for any and all past,
<br />present or future costs, expenses, payments, claims or benefits to which Tenant is or may be
<br />entitled, including any and all loss of business goodwill, leasehold interests, security deposit(s),
<br />personal property, improvements pertaining to realty, bonus value, and/or severance damages
<br />shall equal FIVE HUNDRED FOURTY FIVE THOUSAND AND NO/100 DOLLARS
<br />($545,000.00).
<br />2. Failure to Vacate From the existin¢ building and other improvements on the
<br />Pro er
<br />A. Tenant shall vacate the Property not later than October 31, 2008 ("Vacate
<br />Date"). Tenant shall pay to City of a rental fee ("Daily Rental") of TWO HUNDRED
<br />AND NO/100 DOLLARS ($200.00) for each and every day Tenant remains in
<br />possession of the Property after the Vacate Date, unless a written request for an
<br />extension, not to exceed sixty (60) days, has been submitted to and approved by the City
<br />prior to the Vacate Date. Such request will not be unreasonably denied. Any Daily
<br />Rental charged to Tenant shall be deducted as an offset from the final payment to
<br />Tenant as described in section 1(C) above.
<br />B. As of the Vacate Date, if Tenant has not removed all of its moveable personal
<br />Acquisition Settlement Agreement
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<br />Tenant's Initials
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