Laserfiche WebLink
LOSS OF BUSINESS 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 ANTONIO E. RIOS ABA THE SMOG PLACE <br />( "Tenant "). The Agency and Tenant are hereinafter sometimes referred collectively as the <br />"Parties." <br />RECITALS <br />A. Tenant operates a business, commonly known as The Smog Place, and was the <br />occupant of real property located at 1222 E. Fourth Street, Santa Ana, CA (the <br />"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. The 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 1(a) 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 stun of $30,000.00 (Thirty Thousand and <br />00/100 Dollars) (Tenant Settlement Payment) as total compensation for goodwill <br />Ioss. Upon full execution of this Agreement, the Agency will begin processing a <br />payment, payable to "The Smog Place" in the amount of $30,000.00. <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 />(c) Tenant vacated the premises on October 31, 2013. <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 />interest, in consideration of the mutual covenants and promises contained herein, <br />of the Tenant, the City of Santa Ana, the City of Santa Ana Public Works Agency, <br />1 of 6 <br />25C -5 <br />