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Effective Date of this Agreement. Nothing herein is deemed to limit the City's authority related
<br /> to the exercise of its police power or its right to make any discretionary approvals, including in
<br /> connection with the Entitlement Process and/or any future development activities on the
<br /> Property.
<br /> 7. Mutual Releases. Each Party does hereby release, acquit and forever discharge
<br /> the other party, their representatives, officers, agents, servants, employees, heirs, administrators,
<br /> executors, attorneys, partners, co-venturers, insurers, stockholders, predecessors, successors and
<br /> assigns of and from any and all actions, causes of action, claims, demands, damages, costs, liens,
<br /> expenses, liabilities, attorneys' fees and debts whatsoever, in law or in equity, which any Party
<br /> has or may have, whether known or unknown, suspected or unsuspected relating to the
<br /> Demolition Activities. Notwithstanding the foregoing, this release specifically excludes the
<br /> continuing rights and obligations of the Parties relating to the Entitlement Process and the City's
<br /> authority related to the exercise of its police power or its right to make any discretionary
<br /> approvals, including in connection with the Entitlement Process and/or any future development
<br /> activities on the Property.
<br /> 8. Waiver of Civil Code Section 1542. The Parties do hereby expressly waive the
<br /> provisions of Section 1542 of the Civil Code of the State of California, which provides as
<br /> follows:
<br /> A general release does not extend to claims which the creditor
<br /> does not know or suspect to exist in his or her favor at the time
<br /> of executing the release, which if known by him or her must
<br /> have materially affected his or her settlement with the debtor.
<br /> 9. Mutual Draftin�. This Agreement shall be deemed to have been drafted by or on
<br /> behalf of each of the Parties hereto. The Parties agree that they have each had an opportunity,
<br /> with counsel, to participate in the drafting of this Agreement, and that this Agreement will not be
<br /> construed against any Party on the basis of that Party having responsibility for the drafting of this
<br /> Agreement.
<br /> 10. Enforceabilitv. This Agreement will not become valid and enforceable unless and
<br /> until signed on behalf of each of the Parties. However, the Agreement will be binding and
<br /> enforceable as soon as it is signed by both Parties and a copy is transmitted by mail or electronic
<br /> mail so that both Parties have a copy of this Agreement bearing signatures of the other Party.
<br /> 11. Time is of the Essence. Time is of the essence for this Agreement.
<br /> 12. No Inducement to Settlement. Each Party represents and warrants that the other
<br /> Party, and its respective principals, agents, attorneys, or representatives, have not made any
<br /> promise, representation, or warranty whatsoever, whether express, implied or statutory, which is
<br /> not contained in this Agreement concerning the rights, duties and defenses asserted in the
<br /> Lawsuit or otherwise to induce the execution of this Agreement. The Parties are not bound by
<br /> any representations or inducements which are not set forth in writing in this Agreement. Each
<br /> Party represents and warrants that it has not executed, approved or entered into this Agreement in
<br /> reliance upon any promise, representation or warranty which is not contained within this written
<br /> ATTY/AGR/2014.215/COLBERT SETTLEMENT AGREEMENT-1016 WARREN AVE
<br /> REV:10-29-14 PT
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