Agenda - Council - 07/24/2001 - Laserfiche WebLink

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SETTLEMENT AGREEMENT AND MUTUAL RELEASE This Settlement Agreement and Mutual Release ("Agreement") is made and entered into this __ day of , 2001, by and between the City of Ramsey ("City") and Anoka County Community Action Program, Inc. ("ACCAP"). RECITALS ACCAP has commenced a lawsuit against the City ("Lawsuit"). The issues in the Lawsuit arise out of a February 18, 1999 purchase agreement ("Purchase Agreement") by which the City agreed to convey an approximate 11-acre parcel of land ("Property") to ACCAP. The City and ACCAP have resolved the issues arising out of the Lawsuit and desire to enter into this Agreement to memorialize the terms of that settlement. NOW, THEREFORE, for good and valuable consideration, the sufficiency of which is expressly acknowledged by the parties, the City and ACCAP agree as follows: This Agreement represents a compromise of disputed claims, and settlement is not intended nor understood to be an admission of liability by either of the parties or their insurers, each of which expressly deny any liability. The Purchase Agreement remains in full force and effect, except as otherwise modified by this Agreement. The parties shall close on the sale of Property no later than August 3 l, 2001 and shall execute and otherwise complete bv that (late all of the requirements of the Purchase Agreement that are not inconsistent with this Agreement, including but not limited to the delivery ol:a wan'antv deed to ACCAP. d~e City axd ACCAP ente~dng4ut~_ ~'[m:d d~c-qopmem-a~ment and the execution of any other necessary documents to carry out the terms of this Agreement. Upon proper application bv ACCAP tbr development o1' the Property the Citv and ACCAP shall enter into the Citv's standard Development Aareement pursuant to the terms o['the City's relevant City Code provisions. JJT-200495v I B1~.295-73 I