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SETTLEMENT AGREEMENT <br /> CITY OF ARDEN HILLS <br /> AMERICAN LIBERTY CONSTRUCTION, INC. <br /> I. Parties. This Agreement is entered into by and between the City of Arden Hills, a <br /> Minnesota statutory city ("City") and American Liberty Construction, Inc., a Minnesota <br /> corporation("Contractor"). <br /> 2. Recitals. <br /> a. The City and the Contractor are parties to that certain Construction Agreement <br /> dated February 22, 2011. <br /> b. Contractor has submitted a claim ("Exhibit A") in the amount of$I3,872.36 for <br /> costs incurred due to construction delays. <br /> C. The City disputes that it is responsible for the payment of construction delay <br /> costs. <br /> d. This Settlement Agreement is entered into in order to resolve a disputed claim and <br /> in order to avoid costly litigation. <br /> 3. Terms of Agreement. Upon receipt of a copy of this Settlement Agreement executed by <br /> the Contractor, the City shall to pay Contractor the sum of$2,400.00 in satisfaction of all claims <br /> asserted herein. <br /> 4. Acknowledgement. The parties acknowledge that, in addition to the payment of the <br /> disputed claim, the final payment due on the Contract between the parties is in the amount of <br /> $24,136.15. <br /> CITY OF ARDEN HILLS, a Minnesota <br /> statutory city <br /> By: <br /> Its: <br /> STATE OF MINNESOTA ) <br /> ) ss. <br /> COUNTY OF ) <br /> This instrument was acknowledged before me this day of September, 2012, by <br /> , the , of the City of Arden Hills, a Minnesota statutory <br /> city, on behalf of the City. <br /> Notary Public <br />