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1. <br />follows: <br />2. <br />AGREEMENT <br />The settlement of this ACTION shall include compensation to WANGS as <br />• 418 N. Bristol Street <br />• Land Value -- <br />$214,550 <br />• Improvements — <br />$198,115 <br />• Billboard Lease -- <br />$98,000 <br />• Severance Damages -- <br />$70,000 <br />• Cost to Cure -- <br />$380,000 <br />TOTAL= $960,665 <br />Less consideration for <br />418 N. Bristol St. -- ($394,100) <br />GRAND TOTAL NET SETTLEMENT <br />PROCEEDS TO WANGS = $566,565 <br />The CITY shall pay the WANGS total settlement proceeds in the amount of <br />$566,565, as follows: <br />a. The City and Defendant Clear Channel Outdoor, Inc. have stipulated to <br />Wangs' Request for Order for Withdrawal of the amount of $516,565.00 on deposit <br />herein, which withdrawal shall constitute a first installment of $516,565.00 (the "First <br />Installment"). If Wangs do not obtain an Order for Withdrawal for the entire First <br />Installment amount within 15 days after the date that the last signature is signed to this <br />agreement ("Effective Date"), then the City shall pay to Wangs the difference between <br />$516,565.00 and the amount(s) of any Order(s) for Withdrawal that Wangs have by then <br />obtained. The First Installment shall be payable as set forth in the Stipulated Request for <br />Order for Withdrawal <br />b. Within 3 days of completion of demolition of the portion of the building <br />extending into the property identified in the Order for Possession filed March 19, 2012, <br />the CITY shall pay a second installment in the amount of $50,000 minus any deduction <br />allowed pursuant to paragraph 4 below (the "Second Installment"). The Second <br />Installment to WANGS shall be made payable to "Peterson Law Group Client Trust <br />Account" and delivered to: <br />2 <br />