|
expenses attendant upon litigation between the Parties. Neither this Agreement, nor anything
<br />contained herein, nor any act or thing done in connection herewith, is intended to be, or shall be
<br />construed or deemed to be, an admission by any of the Parties of any liability, fault or
<br />wrongdoing.
<br />
<br />3.Reimbursement Payment. In consideration of the development costs incurred by
<br />McDonald's with respect to the Property, within ten (10) days of the Settlement Effective Date,
<br />City shall pay McDonald's the total sum of Ten Thousand and no/100s Dollars ($10,000.00) (the
<br />"Reimbursement Payment"). The Reimbursement Payment shall be made via check made
<br />payable to "McDonald's USA, LLC" and sent to the following address:
<br />ATTN: Monica J. Mosby, Esq.
<br />Commercial Litigation Practice Group
<br />
<br />2915 Jorie Blvd (Dept. 065)
<br />Oak Brook, Illinois 60523
<br />
<br />
<br />4.Execution of City Deed. Within five (5) days of its receipt of the Reimbursement
<br />Payment, McDonald's shall execute and deliver to the City the City Deed.
<br />
<br />5.Release by McDonald's. Upon the Settlement Effective Date, McDonald's
<br />unconditionally and irrevocably, fully, finally, and forever waives, releases, acquits and forever
<br />discharges City from any and all Claims; provided, however, that nothing herein shall waive,
<br />release, acquit or discharge any claim that McDonald's may have for enforcement or breach of
<br />this Agreement or for any acts committed after the execution of this Agreement. McDonald's
<br />understands that by signing this Agreement, it is waiving any and all Claims against City
<br />released by this Agreement to the greatest extent allowable under law.
<br />
<br />6.Release by City. Upon the Settlement Effective Date, City unconditionally and
<br />irrevocably, fully, finally, and forever waives, releases, acquits and forever discharges
<br />McDonald's from any and all Claims; provided, however, that nothing herein shall waive,
<br />release, acquit or discharge any claim that City may have for enforcement or breach of this
<br />Agreement or for any acts committed after the execution of this Agreement. City understands
<br />that by signing this Agreement, it is waiving any and all Claims against McDonald's released by
<br />this Agreement to the greatest extent allowable under law.
<br />
<br />7.Covenants Not to Sue. Without limiting the generality of the foregoing releases,
<br />the Parties hereby covenant and agree that, upon and after the Settlement Effective Date, no
<br />Party shall institute, bring, commence or continue any action in any court, arbitration, or other
<br />forum against any other Party for any of the claims released pursuant to this Agreement;
<br />provided, however, that nothing herein shall waive, release, acquit or discharge any claim for
<br />enforcement or breach of this Agreement or for any acts committed after the execution of this
<br />Agreement.
<br />
<br />8.Acknowledgement of Adequate Consideration. The Parties hereby acknowledge
<br />and agree that the foregoing mutual releases and covenants not to sue, as well as all other terms
<br />3
<br />
<br />
<br />8434579v2
<br />
<br />
<br />
|