Laserfiche WebLink
-78- <br /> <br /> SETTLEMENT AGREElVlENT Aa'ID MUTUAL RELEASE <br /> <br /> This Settlement Ag-reement and Mutual Release ("Agreement") is made and entered into <br /> <br />this ~ day of ,2001, by and between the City of Ramsey ("City") and Anoka <br /> <br />County Community Action Program, Inc. ("ACCAP"). <br /> <br />RECIT.43LS <br /> <br />A. ACCAP has commenced a lawsuit against the City ("Lawsuit"). <br /> <br />The issues in the Lawsuit arise out of a F'ebmary 18, 1999 purchase agreement ("Purchase <br />Agreement") by which the City agreed to convey an approximate 11-acre parcel of land <br />("Property") to ACCAP. <br /> <br />Co <br /> <br />The City and ACCAP have resolved the issues ar/sing out of the Lawsuit and desire to enter <br />into this Agreement to memorialize the terms of that settlement. <br /> <br /> NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is <br />expressly acknowledged by the parties, the City and ACCAP agree as follows: <br /> <br />This Agreement represents a compromise of disputed claims, and settlement is not intended <br />nor understood to be an admission of liability by either of the parties or their insurers, each <br />of which expressly deny any liability. <br /> <br />The Purchase Agreement remains in full force and effect, except as otherwise modified by <br />this Agreement. The parties shall close on the sale of Property no later than August 31, <br />2001 and shall execute and otherwise complete all of the requirements of the Purchase <br />Agreement that are not inconsistent with this Agreement, including but not lira/ted to the <br />City and ACCAP entering into a standard development agreement and the execution of any <br />other necessary documents to carry, out the terms of this Agreement <br /> <br />JJT-200495vl <br />BE295-73 <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br /> <br />