25M - AGMT - 1607 N BRISTOL ST - Laserfiche WebLink

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ALL INCLUSIVE SETTLEMENT AGREEMENT This Agreement ("Agreement") is made by and between the City of Santa Ana, a charter city and municipal corporation duly organized and existing under the Constitution and laws of the State of California ("City") and JOE GARRIDO DBA FARMERS INSURANCE ("Tenant"). The City and Tenant are hereinafter sometimes referred collectively as the "Parties." The Effective Date of this Agreement shall be _, 2016, the date on which the Agreement has been fully executed by the City and Tenant. RECITALS A. Tenant operates a business, commonly known as Farmers insurance, located at 1607 N. Bristol Street, Santa Ana, CA 92703 (the "Property"). B. The City is in the process of purchasing the Property for the Bristol Street Improvements Project Phase 1116. As a result of the City's acquisition, the Tenant will be displaced from the Property. C. The Parties desire to resolve all issues relating to the City's acquisition of the Property in accordance with the terms and conditions set forth below. D. The Parties acknowledge that the payment as set forth in paragraph 1(a) and other consideration given in connection with this Agreement are the result of a compromise and settlement of disputed claims, and shall never, at any time or for any purpose, be considered an admission of liability or responsibility on the part of any of the parties herein released. NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and covenants hereinafter set forth, it is hereby agreed by and among the Parties that: 1. Consideration (a) The City shall pay to Tenant the sum of $30,000.00 (Thirty Thousand Dollars and Zero Cents) (Tenant Settlement Payment) as total compensation for relocation assistance and any and all related expenses and claims as more fully described in paragraph 1(b) below. Upon full execution of this Agreement, the City will make a final payment to Tenant in the amount of $30,000.00. (b) Tenant agrees, that the consideration received pursuant to paragraph 1(a) above constitutes full satisfaction of any and all obligations of the City to Tenant, including, without limitation, any obligations for relocation assistance, relocation benefits, moving expenses, interest of any kind in the real estate and leasehold, loss of business goodwill, compensation for personal property (loss of inventory), furniture, fixtures and equipment, interest, attorney's fees, appraisal fees, or damages of any nature. (c) Tenant will vacate the Property on S+ 2016 ("Vacate Date"). (d) Tenant hereby agrees that City may remove and dispose of any personal property or trash that was not moved upon the Vacate Date, as it elects and desires, without any notice to Tenant. Exhibit 2 1 of 7 25M-5