Agmt22 Alison Madden - Laserfiche WebLink

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b. Second Installment Payment to Tenant: Within fourteen (14) days of Tenant's full compliance with Section 4 below, the City shall mail a second installment payment to Tenant in the sum of Fifteen Thousand Dollars ($15,000) ("Second Installment") to Alison Madden at P.O. Box 620650, Woodside, CA 94062, or to such other mailing address for which Tenant has provided notice to the City pursuant to Section 12(l) below. Alternatively, if Tenant has timely scheduled an appointment with the City Clerk, for a date and time when City Hall is open, Tenant can pick up the Second Installment at City Hall. C. Third Installment Payment to Tenant: Within twenty-one (21) days of Tenant's full compliance with Sections 4, 5, and 6(a) below, the City shall deliver a third installment payment to Madden, which shall constitute the balance owed of the Settlement Payment (Settlement Payment less First Installment and Second Installment) in the sum of Three Hundred Eight -Five Thousand Dollars ($385,000) ("Third Installment"), to Alison Madden at P.O. Box 620650, Woodside, CA 94062, or to such other mailing address for which Tenant has provided notice to the City pursuant to Section 12(l) below. Alternatively, if Tenant has timely scheduled an appointment with the City Clerk, for a date and time when City Hall is open, Tenant can pick up the Third Installment at City Hall. 4. Removal of Grace; Conveyance and Vacation of Inferno: a. Removal of Grace: i. Tenant will remove Grace from Docktown within twenty-eight (28) days of the Effective Date. ii. If Tenant has not removed Grace from Docktown within twenty-eight (28) days of the Effective Date and the City has timely paid the First Installment: (A) Tenant will be deemed to have abandoned Grace, and (B) the City shall, in addition to any and all other rights and remedies, have the right to take possession of Grace and to demolish, destroy, sell, keep, or otherwise take any action the City decides, in its exclusive discretion, to take with respect to Grace. b. Conveyance of Inferno: Tenant has conveyed Inferno to the City as discussed in the Recitals, and the written rental agreement between Tenant and the City for Inferno is deemed terminated. C. Vacation of Inferno: Tenant shall vacate Inferno and remove any all personal property from Inferno, including without limitation hazardous materials of any kind, within twenty-eight (28) days of the Effective Date. The City is authorized to take possession of Inferno upon Tenant's notice to the City that she has vacated Inferno, or on the 29th day after the Effective Date, whichever is sooner. d. As -is Transfer of Inferno: Tenant is conveying, and the City is accepting, Inferno in its as -is and present condition as of the Effective Date, and Tenant makes no warranty as to the condition of Inferno and waives any implied warranty of fitness for a ATN/AGR/SETTLEMENTS/SETTLEMENT AGREEMENT -ALISON MADDEN REV: 07-21-22 VR Page 4 of 13