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<br /> <br />1 <br />SETTLEMENT AGREEMENT <br />This is a binding agreement (Agreement) made and entered into by and between <br />City of Arden Hills (City) and TAT Properties LLC and 1201 County Road E, LLC <br />(collectively, Developer). <br />RECITALS <br />WHEREAS, in October 2014 and January and February 2015, the parties <br />attempted to resolve their disputes; and <br />WHEREAS, the parties desire to both (a) avoid the time and expense of continued <br />litigation and (b) memorialize their agreement and understandings relating thereto. <br />NOW, THEREFORE, for other good and valuable consideration, the parties <br />hereby agree as follows: <br />TERMS <br />1. PUD Agreement Amendment. Developer’s application for a PUD <br />Agreement Amendment, as modified to reflect the redesign reflected in Exhibit A hereto <br />and the conditions in Exhibit B hereto, shall be presented to the City Council for approval <br />by March 9, 2015, subject to the ability of the City, after consultation with <br />representatives of Developer, to table action on the amendments until the next regular <br />Council meeting. <br />2. Developer’s Agreement. A Developer’s Agreement regarding <br />Developer’s application for a PUD Agreement Amendment, as modified to reflect the <br />redesign reflected in Exhibit A and the conditions in Exhibit B, shall be presented to the <br />City Council for approval by March 9, 2015, subject to the ability of the City, after <br />consultation with representatives of Developer, to table action on the amendments until <br />the next regular Council meeting. <br />3. Dismissal of Litigation/Releases. If the City grants the necessary <br />approvals referred to in Paragraph 1 and 2 of this Agreement upon the completion of the <br />procedures required by state law and local ordinance for such approvals, then within 30 <br />days of the final City Council vote granting such approvals: (1) the parties to the case <br />between them filed in Ramsey County District Court, through their counsel, will execute <br />a stipulation for dismissal; and (2) the parties will execute mutual releases intended to <br />release the parties and their agents and officials from all claims known or unknown <br />arising from the subject matter of that litigation. <br />4. Effectiveness of Agreement. The effectiveness of this Agreement is <br />contingent on the parties’ obtaining the necessary approvals referred to in Paragraphs 1 <br />and 2 of this Agreement. <br />5. Legal Fees. The parties shall bear their own legal fees and expenses <br />relating to the pending dispute. The City shall not seek in the future to recover its legal