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SETTLEIVIENT AND RELEASE AGREEMENT <br />�.� Parties. This Settlement and Release Agreem.ent ("Agreement"� is dated the <br />day of , 2�Q9 and is entered into by and between the City of Arden <br />Hilis, a Minnesota statutory city ("City"}; and Ronald M. Nelson and Ana Maria Nelson, <br />their suc�essors and assigns �coilectively herein "Nelson"). <br />2.4 Recitals. <br />A. Nelsan is the record fee ovvner and occupant of the following described real <br />property ("Frope�ty"} situated in Ramsey �ounty, Minnesata: <br />Lot 8, Biock 2, Keithson Addition <br />B. A public trailway "�Trailway"} is located easterly of and adjacent to the Property, <br />�. Storm�ater is draining from the Trailwa� anto the Property. <br />D. Pursuant to the terms of this Agreement, the parties have agreed to resolve any <br />disputes or claims rela�ing to erosion damage being caused to the Property by <br />stormwa�er drainage from the Trailway. <br />3.0 T`erms and Settlernent. NOVV THER.EFORE, in consideration of the rnutual undertakings <br />herein expressed, the Parties agree as follaws: <br />A. Nelson has retained a contractor ta prepare a stormwater drainage/landscaping <br />plan which illustrates and describes a project that wXll con�ain storrnvvater that <br />flows from the Trailway onto the Proper�y and that corrects and prevents future <br />erosion darnage ("Projeet"). The stormwater drainage/landscaping plan is attached <br />as Exhibit A. <br />B. Nelson has obtained a quote for the cost of constructing the Proj ect which is <br />attached as Exhibit B. <br />C. The City shall pay Nelson $16,500 ("Settlement Amount"} within five (5) <br />buslness days from the date on which this Agreement has been authori�ed by the <br />Arden �ills City Council and signed by the parties. The Settlement Amount shall <br />be used to construct the Proj ect. <br />D. In cons�deration of the payment of the Settlement Amount, Ne�son for themselves <br />their successors and assigns, agree to release the City, its emplayees and <br />contraetors frorn any liability or clairris whatsoever, known ar unknown, arising <br />out of or in any way relating to the dralnage of water from the T`railway onto the <br />�'roperty. <br />