Agmt04 cinema - closing docs - Laserfiche WebLink

Browse Search

, " --, A. Developer, City and Agency have agreed to compromise their respective --, claims and enter into this Amendment No. One without admitting any fault or responsibility for the alleged delays in completion of the Project, costs associated with those delays, or other facts, and for the purpose of resolving Developer's Claims (as used herein, "Claims" shall mean all claims, demands, obligations, damages, actions, and causes of action of any kind for any relief whatever, on any basis whatever, whether known or not, whether asserted or not, whether fixed or contingent, against the City and/or Agency, their employees, representatives and agents of any kind arising out of or relating to the Public Parking Facility). This Amendment represents that compromise and release and is a negotiated settlement for all of Developer's work, Services, changes, proposed changes and Claims arising out of or related to events or circumstances occurring prior to the execution of this Amendment No. One. S. The increased amount of the Not-to-Exceed Parking Facility Cost set forth above is a negotiated compromise and settlement of Developer's disputed Claims. It includes compensation for any and all amounts for which Developer sought or could have sought payment through Wentz' Change Order Requests No. 1 through 86, inclusive, as well as compensation for delays in construction of the Public Parking Facility and Project arising from or related to events or circumstances prior to the date this Amendment is signed. C. Developer acknowledges its awareness of Section 1542 of the California Civil Code, which provides as follows: A general release does not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor. Developer further represents that it intends to, and does, waive and relinquish any right or benefit which it has or which it may have under Section 1542 of the California Civil Code with respect to Claims for compensation any and all amounts for which Developer 9 770727v 16 33786/0001 ... . ._--- .......