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INSURANCE NOT REQUIRED WORK MAY PROCEED CLERK OF COUNCIL nATF: "2-'22-\ D ~< A-201O-032 ALL INCLUSIVE SETTLEMENT AGREEMENT .=:f ~ ~:1 _~ cd ~ "";. 0~ This Agreement ("Agreement") is made by and between the City of Santa Ana Public Works Agency, a public body, corporate and politic ("Agency") and Bristol Chiropractic ("Tenant"). The Agency and Tenant are hereinafter sometimes referred to collectively as the "Parties. " RECIT ALS "V'J A. Tenant operates a business, commonly known as Bristol Chiropractic, and is the occupant of real property located at 716 N. Bristol St., Santa Ana, CA (the "Property") . u B. The Property has been acquired by the Agency for the Bristol Street Widening Project. Tenant currently occupies the Property under a lease dated June 26, 2006, and a lease amendment dated August 1,2007, which commenced on June 1,2009 and ends on May 21, 20 11 (collectively, the "Lease"). C. The Parties desire to resolve all issues relating to the Agency's acquisition of the Property in accordance with the terms and conditions set forth below. D. The Parties acknowledge that the payment as set forth in paragraph l(a) and other consideration given in connection with this Agreement are the result of a compromise and settlement of disputed claims, and shall never, at any time or for any purpose, be considered an admission of liability or responsibility on the part of any of the parties herein released. NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and covenants hereinafter set forth, it is hereby agreed by and among the Parties that: 1. Consideration (a) The Agency shall pay to Tenant the sum of $230,000.00 (Two Hundred Thirty Thousand Dollars) (Tenant Settlement Payment) as total compensation for relocation assistance and any and all related expenses and claims as more fully described in paragraph l(b) below. Tenant acknowledges and agrees that it has received an advance payment against the Tenant Settlement Payment in the amount of $20,000.00. Upon full execution of this Agreement, the Agency will begin processing a second payment, payable to the Peterson Law Group Client Trust Account, in the amount of $130,000.00. The Agency will make the final payment to the Peterson Law Group Client Trust Account in the amount of $80,000.00, less any deductions described in paragraphs 1 (c) (d) and (e) of this Agreement, after Tenant vacates the Property, signs a Certificate of Abandonment, provides all keys to the Property to the Agency or to the Agency's relocation consultant, and provides written verification that all hazardous materials have been legally and properly moved. ] of?