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EXHIBIT 3 <br />1. Recitals. The recitals set forth in paragraphs A through E are true and correct and <br />are hereby fully incorporated by reference into this Agreement. <br />2. Effective Date. The Effective Date of this Agreement shall be the date on which <br />this Agreement is fully executed by all of the Parties. <br />3. No Precedent. This Agreement is in no way intended, and shall in no way be <br />construed, to restrict rights guaranteed to the City under local, state, and/or federal law, rule, <br />policy, or agreement, or to establish a precedent or formal policy of the City in this or any other <br />matter, now or in the future. <br />4. No Admission of Liability. This Agreement shall not in any way be construed as <br />an admission by any of the Parties of any unlawful or wrongful acts or other liability whatsoever <br />against each other or against any other person. The Parties specifically disclaim any liability to, <br />or wrongful acts against, each other or against any other person on the part of themselves, any <br />related person, or any related predecessor entity or corporation, or its or their agents, <br />representatives, or successors in interest and assigns, in relation to the matters addressed in this <br />Agreement. <br />apply: <br />Settlement Terms. Upon execution of this Agreement, the following terms shall <br />a. The Parties hereby approve and shall take all actions necessary to effectuate <br />the exchange of the Subject Properties pursuant to the following transactions: <br />Fainbarg shall transfer to the City the portion of property as detailed in the <br />Legal Description provided in Exhibit A attached herewith and <br />incorporated herein by reference. Further detail of said property is provided <br />in the Sketch attached hereto as Exhibit B and incorporated herein by <br />reference. <br />ii. The City shall transfer to East End the portion of property as detailed in <br />the Legal Description provided in Exhibit C attached herewith and <br />incorporated herein by reference. Further detail of said property is provided <br />in the Sketch attached hereto as Exhibit D and incorporated herein by <br />reference. <br />iii. The City shall transfer to Fainbarg the portion of property as detailed in <br />the Legal Description provided in Exhibit E attached herewith and <br />incorporated herein by reference. Further detail of said property is provided <br />in the Sketch attached hereto as Exhibit F and incorporated herein by <br />reference. <br />b. There shall be no monetary compensation between the Parties for the <br />exchange of the Subject Properties. <br />25E-6 <br />