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<br />cl SETTLEMENT AMMNT AGV1i MUTUAL RELEASE
<br />As of this day of May, 2014, 7 pays Tire Center (hereinafter "7 DAYS TIRE "), and the
<br />City of Santa Alna, a art city and municipal cgzpgration duly organized under the Constitution
<br />and laws of the State of California (the "CITY ") hereby agree to enter into this Settlement and
<br />Mutual Release (hereinafter "Agreement ") on the terms and conditions set forth below, As used
<br />in this Agreement, the CITY and 7 DAYS TIRE are sometimes collectively referred to as the
<br />"Parties," or individually as the "Party."
<br />UCITALS
<br />A. 7 DAYS TIRE leased properties located at 1221 East P Street, Santa Ana, California
<br />(the "Property ") and 1222 East 4 e Street, Santa Ana, California, on which it operated a tire shop
<br />and auto repair business,
<br />B. On or about March 29, 2013, the CITY filed an eminent domain action entitled: CITY
<br />OF SANTA ANA v, MARIE G FIINOJOSA, et al. Orange County Superior Court Case No. 30-
<br />2013. 00640495, to acquire the Property, including 7 DAYS TIRE's interest in the Property (the
<br />"Condemnation Action" ).
<br />C, On or about October 2, 2013, the CITY deposited a total amount of $17,620.00
<br />( "Deposit ") as compensation for the improvements pertaining to the realty with the State
<br />Condemnation Fund. On or about October 31, 2013, 7 DAYS TIRE submitted a verified
<br />application with the court to withdraw these funds. 7 DAYS TIRE withdrew the Deposit on or
<br />about December 23, 2013.
<br />D. 7 DAYS TIRE waives the CITY's Notice of Entry of Judgment and Final Order of
<br />Condemnation in the Condemnation Action.
<br />VVMREAS, the Parties now desire to amicably resolve all of their disputes concerning,
<br />inter alia, just compensation from the CITY relating to the loss of business goodwill sustained by
<br />7 DAYS TIRE, and for good and valuable consideration, the receipt and sufficiency of which are
<br />hereby acknowledged, the Parties hereto agree as follows:
<br />ACRELMENT
<br />1. Payment: The Parties agree to settle the Condemnation Action for a grand total of
<br />$312,620.00, plus ordinary court costs. The sum of $321,620.00, plus ordinary court costs shall
<br />consist of the following: '(a) $295,000 for a total loss of busimoss goodwill; (b) $17,620 for the,
<br />value of improvements; and (c) $460 for ordinary costs. 7 DAYS TIRE withdrew the Deposit
<br />amount of $17,620. The CITY, as soon as is practicable after full execution of this Agreement,
<br />-bt naelatar thtian`twePt 20 da s thereatter shalt a 7 DAYS °fiI12E $295.460:00 via electronic
<br />transfor or written warrant ( "Settlement Payment', made payable to Murphy & Evortz LLP
<br />Client Trust Account, John C. Murphy, Esq., 650 Town Center Drive, Suite 550, Costa Mesa,
<br />California 92626.
<br />J00062774.2 )Page I of 4
<br />A -2014 -091
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