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2.7 Discharge of Obligation
<br />The obligation of the Assignee to make each Periodic Payment shall be discharged upon
<br />the mailing of a valid check in the amount of such payment to the designated address of the
<br />Payee named in Section 2 of this Settlement Agreement.
<br />2.8 All Parties to this Settlement Agreement hereby further agree that in the event of a
<br />Defendant's default or non - performance under this Agreement, such as for example non-
<br />payment and /or late payment of that Defendant's respective settlement funds identified in
<br />paragraphs 2. 1, any such default or non - performance shall only be deemed as the defaulting /non-
<br />performing Defendant's breach of this Agreement, and any relief available to CORTEZ related
<br />thereto shall inure only as against the defaulting /non - performing Defendant, and such breach
<br />shall not affect the settlement and dismissal of this Action as to any other party herein.
<br />3. Applicable Taxes, Fees, Withholding, Ability to Obtain Financing, etc.:
<br />3.1 CORTEZ acknowledges and agrees that Defendants and their counsel have not
<br />made, and do not make any representations herein concerning the taxable status of any of the
<br />payments set forth in this Agreement, and CORTEZ acknowledges and agrees that she has not
<br />relied and will not rely on any such representations, if any.
<br />3.2 CORTEZ acknowledges and agrees that she will be solely responsible for any tax
<br />liability, or the like, that results from any of the payments set forth in this Agreement.
<br />3.3 CORTEZ acknowledges and agrees that Defendants and their counsel have at no
<br />time prior to this settlement made any representations concerning the possible consequences of
<br />the Settlement Amount upon her or her parents' ability to obtain any financial aid, loans, grants,
<br />financing, etc., irrespective of the intended or actual use or purpose of any such financial aid,
<br />loans, grants, financing, etc.
<br />4. Waiver of Fees and Costs:
<br />4.1 The Parties separately and each agree that they shall bear their own attorney's
<br />fees and costs incurred in connection with this Action, including but not limited to: (1) the
<br />prosecution and /or defense of the Action, and the related cross - complaints; (2) the Parties'
<br />discussions and negotiations regarding the claims, contentions, acts, and omissions that have
<br />been separately alleged by CORTEZ and all claims related thereto; and, (3) the negotiation of
<br />this Agreement, and no further claims or demands related thereto shall be made.
<br />5. Release:
<br />5.1 In consideration for the statements, covenants, promises, obligations, dismissals,
<br />and undertakings set forth in this Agreement, CORTEZ shall and does hereby completely and
<br />forever release, absolve, acquit, relieve, and discharge EL SOL, CITY, RODRIGUEZ, and their
<br />principals, directors, officers, elected and appointed officials, attorneys in fact, management
<br />companies, shareholders, past and present employees, agents, representatives, business entities,
<br />[51
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