2005-10-26 CC Packet - Laserfiche WebLink

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1. Royal Oaks shall pay to Centerville the sum of sixty-five thousand dollars and 00/100 ($65,000.00). The funds must be received or before the close of business at 4:00 p.m. on Wednesday, October 26th, 2005 in the form of certified funds, made payable to the City of Centerville. 2. All parties hereby release and forever discharge each other and their agents, representatives, successors and assigns from any and all claims and causes of action of any kind or nature whatsoever that they ever had or now have which arise out of the matters described in the Complaint filed in the above-captioned adion, including but not limited to the causes of action brought, or which could have been brought, in that action. 3. This settlement agreement and mutual release does not, however, affect the parties' rights or obligations regarding actions that may arise out of any continuation of the Lakeland Hills and/or Royal Oaks Industrial Park projects and/or lot development or sales connected with these projects after the date of this settlement agreement and mutual release, or any other projects or developments involving the parties. 4. It is understood by this settlement agreement and mutual release that the parties undersigned do not admit to any liability to each other, but rather expressly deny any such liability. 5. This settlement agreement and mutual release shall inure to the benefit to the parties and bind the parties hereto and their respective heirs, legal representatives, successors and assigns and constitutes the full and final agreement between the parties. 6. This settlement agreement and mutual release shall be governed in all respects by the laws of the State of Minnesota. 7. The parties hereby declare that the terms of this settlement agreement and release have been completely read and are fully understood and voluntarily accepted for the purpose of making a 2 3J~