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<br />11."McDonald's" means McDonald's USA, LLC and its current, former and future
<br />affiliates, parent companies, predecessors, successors, subsidiaries, partners, related partnerships,
<br />and each of their respective members, shareholders, owners, corporate officers and directors,
<br />principals, employees, representatives, affiliates, predecessors and successors, parent and
<br />subsidiary companies, agents, assigns, attorneys, experts, insurers, and anyone else who could be
<br />alleged liable on their behalves, individually and collectively.
<br />RECITALS
<br />WHEREAS, on or about February 24, 2014, the HRA executed the McDonald's Deed with
<br />respect to the Property, which was recorded in the office of the Anoka County Registrar of Titles
<br />on March 3, 2014 as Document No. 522138.002;
<br />WHEREAS, City is the successor-in-interest to the HRA with respect to the right of
<br />re-entry contained in the McDonald's Deed, as evidenced by the HRA Deed;
<br />WHEREAS, the two conditions subsequent set forth in Exhibit B of the McDonald's Deed
<br />were not timely satisfied;
<br />WHEREAS, the City has a right of re-entry for the Property and, upon exercise of such
<br />re-entry, title to the Property reverts to the City;
<br />WHEREAS, the City has notified McDonald's of its exercise of the right of re-entry for the
<br />Property;
<br />WHEREAS, the Parties recognize that McDonald's incurred substantial development costs
<br />in connection with the Property and that a partial reimbursement is appropriate;
<br />WHEREAS, the Parties desire to avoid the time, burden and expense of potential litigation
<br />regarding the McDonald's Deed and/or the Property;
<br />WHEREAS, the Parties have negotiated at arm's length and have entered into this
<br />Agreement in good faith; and
<br />WHEREAS, the Parties desire to enter into this Agreement as a final settlement to
<br />document their final resolution of any and all disputes and Claims between the Parties.
<br />AGREEMENT
<br />NOW, THEREFORE, in consideration of the covenants, mutual releases and other terms
<br />set forth in this Agreement, and for other good and valuable consideration, the receipt and
<br />sufficiency of which the Parties hereby acknowledge, the Parties hereby agree as follows:
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<br />1.Incorporation of Definitions and Recitals. The foregoing definitions and recitals are
<br />incorporated into this Agreement by reference.
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<br />2.Denial of Liability. This Agreement is entered into only for purposes of settlement
<br />and compromise of disputed Claims in order to avoid the uncertainties, risks and expenses
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