Res. #10-027 - Approving Joint Settlement Agreement & Stipulation for Dismissal

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WHEREAS, the parties to this Agreement have considered their rights, options and alternatives under this Agreement. NOW, THEREFORE, in consideration of the foregoing recitals and all of the terms and conditions set forth herein, and for other good and valuable consideration, the sufficiency of which is acknowledged, the parties agree as follows: I Agreement To Accept Award; The parties mutually agree to accept and affinn the Award of the Commissioners, dated July 28, 20� 10, and duly filed with the Anoka. County District Court in this action. The Parties request the District Court to reduce same to a Judgment and Enter said Judgment accordingly with the District Court, 2, Payment of the Award: The City agrees to pay Fisher as set forth in the Award of the Commissioners the sum of Three Thousand, Eight Hundred and Fifty Two Dollars ($3,852.00) plus accrued interest asset forth below, (the "Award") in the form of two checks, one Paid from the City to Fisher in the amount of $3,19100, and one paid from the funds deposited by the City and held by the District Court Administrator in the amount of $660.00, plus all interest which has accrued on said deposit. The parties agree that Fisher will receive a Form 1099 for the amount of $3,852.00 plus all accrued interest. 1 Total 8 ettlement Of Condemnation Action: The parties agree that payment of the Award by the City is in fall settlement of all of the Parties' actual and potential charges, claims, defenses, or causes of action against each other that were or could have been asserted in this Condemnation Action, and any and all claims for any type of legal, equitable, or statutory relief, arising from the construction of the Trail Project, or a trail over the property taken by the City. In particular, the City will not have any continuing responsibility to care for any trees on the Fisher property nor remove the trees as a result of the construction of a trail over their property. The end of any continuing responsibility by the City is on the condition that the trail constructed across the Fisher property is physically constructed in conformity with the City's engineering plans in existence as on June 21, 2010. 4, Dismissal of Action. In further consideration of the compensation paid by the City in exchange for the subject property, and the parties agree to dismiss their actions. a, Pursuant to Minn,R.Civ.Pro. 41.01, the City hereby disthisses any pending appeal of the Condemnation Action against Fisher with prejudice. By this dismissal, no legal action by the City remains with the Courts against Fisher. Invalidity. In case any one or more ofthe provisions of this Agreement shall be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained in this Agreement and Release will not in any way be affected or impaired thereby, C. Entire Agreement. The parties agree that this Agreement and the Release attached hereto, contain all of the agreements between them, and that they have no other written or oral agreements. -2-