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2004_0308_Packet
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2004_0308_Packet
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Covenant as contemplated by the Stipulation; <br />1.5. WHEREAS, Beazer and Roof Owner intend to adopt all Definitions of the <br />Stipulation as if they were incorporated into this Acceptance and Covenant in their entirety; <br />2. Roof Reqlacement Compensation. <br />2.1 Payment of Roof Replacement Compensation. Beazer agrees to pay to Roof <br />Owner the sum of Seventy one thousand twenty seven ($71,027.00) (The "Roof <br />Replacement Compensation").This sum shall be paid in two installments as contemplated by the <br />Stipulation. Within five (5) business days after the receipt of the Claims Office of this <br />Acceptance and Covenant, the Claims Office will pay fifty percent (50%) of the Roof <br />Replacement Gempensation to the Roof Owner, minus twelve and one-half percent (12.5%) of <br />that amount. The remaining fifty percent (50%) of the Roof Replacement Compensation to the <br />Roof Owner, minus twelve and one-half percent (12.5%), will be paid by the Claims Office to <br />Roof Owner within fifteen (15) business days of receipt of written documentation verifying <br />that the currently existing roofing system at the Building has been removed and replaced. <br />2.2 Attorneys Fees. Beazer and roof Owner acknowledge and agree that the Roof <br />Replacement Compensation to be paid by the Claims Office to Roof Owner in two installments <br />shall be reduced by twelve and one—half percent (12.5%) for each such installment, and that those <br />amounts deducted as attorneys fees from the Roof Replacement Compensation shall be paid by <br />the Claims Office to Plaintiffs' Class Counsel as contemplated by the Stipulation and as <br />ordered by the District Court on December 13, 2000. <br />3. Covenant to Remediate. <br />3.1 Covenant to Remediate. Roof Owner covenants and agrees that by accepting the <br />Roof Replacement Compensation recited herein, Roof Owner agrees to remove, replace and <br />� <br />_. �. <br />� <br />
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