Laserfiche WebLink
AFAR 0 2014 N- 2014 -052 <br />o T VV I <br />LOSS OF I3I7SINESS GOODWILL SETTLEMENT AGREEMENT <br />This Agreement ( "Agreement ") is made by and between the City of Santa Ana, a public <br />body, corporate and politic ( "Agency ") and RAYMUNDO PENA DBA IMAGEN BEAUTY <br />SALON ( "Tenant"). The Agency and Tenant are hereinafter sometimes referred collectively as <br />the "Parties." <br />RECITALS <br />A. Tenant operates a business, commonly known as Imagen Beauty Salon, and was the <br />occupant of real property located at 1221 E. Fisrt Street, Unit # D, Santa Ana, CA <br />(the "Property "). <br />B. The Property is being acquired by the Agency for the Grand Avenue Widening <br />Project. Tenant occupied the Property at the initiation of negotiations to acquire the <br />fee interest of the Property. <br />C. i'he Parties desire to resolve all issues relating to the Agency's acquisition of the <br />Property in accordance with the terms and conditions set forth below. <br />D. The Parties acknowledge that the payment as set forth in Section l(1) and other <br />consideration given in connection with this Agreement are the result of a negotiated <br />agreement between the parties. <br />NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and <br />covenants hereinafter set forth, it is hereby agreed by and among the Parties that: <br />1. Consideration <br />(a) The Agency shall pay to Tenant the sum of $3,750.00 (Three Thousand Seven <br />Hundred and Fifty Dollars) (Tenant Settlement Payment) as total compensation <br />for goodwill loss. Upon full execution of this Agreement, the Agency will begin <br />processing a payment, payable to "Raymundo Pena, Dba. Imagen Beauty Salon" <br />in the amount of $3,750.00. <br />(b) Tenant agrees, that the consideration received pursuant to paragraph 1(a) above <br />constitutes full satisfaction of any and all obligations of the Agency to Tenant. for <br />loss of business goodwill. <br />(e) Tenant vacated the premises on September 3, 2012. <br />2. Release <br />(a) Nothing contained herein shall constitute a release or discharge by either party for <br />any of the undertakings of the other party to this Settlement Agreement. This <br />Agreement shall serve as a full release and discharge by the Parties, on behalf of <br />themselves, their agents, representatives, assigns, trustees, administrators, <br />attorneys, heirs, relatives, spouses, ex- spouses, beneficiaries, and successors in <br />1 of 6 <br />