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~ 0 R I G I N A L -- 6/10/96 <br /> <br /> RESOLUTION NO. 12799 <br /> <br /> RESOLUTION APPROVING AND AUTHORIZING EXECUTION <br /> OF SETTLEMENT AGREEMENT <br /> <br /> (CENTRUM III ASSOCIATES) <br /> <br /> WHEREAS, in 1991, Centrum III Associates filed an action (the "Action") <br /> <br />entitled "Centrum III Associates v. City of Redwood City"; and <br /> <br /> WHEREAS, the Action arose out of a disagreement between Centrum III <br />Associates ("Centrum") and the City of Redwood City regarding Facilities Fees <br />which are required to be paid by Centrum or its successor in interest pursuant to <br />a Development Agreement dated August 7, 1986; and <br /> <br /> WHEREAS, the parties to the Action have agreed to settle their respective <br /> <br />claims and dismiss the Action; <br /> NOW, THEREFORE, <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD <br /> <br />CITY AS FOLLOWS: <br /> <br /> That certain agreement entitled "Settlement Agreement and Mutual <br /> <br />General Release of Claims" (form dated 06/05/96) by and between the City of <br />Redwood City, a municipal corporation of the State of Califomia and Centrum III <br />Associates, a California General Partnership, settling the Action entitled <br />"Centrum III Associates v. City of Redwood City," Action No. 358869, San Mateo <br />Superior Court, State of California, a copy of which agreement is on file in the <br />office of the City Clerk, to which copy reference is hereby made for the full <br />particulars thereof, is hereby approved, and the Manager and City Clerk are <br /> <br /> <br />