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ATTY/AGR/SETTLEMENTS/2023/SETTLEMENT AGREEMENT - 557 E. BAYSHORE ROAD
<br />REV: 05-17-23 JB
<br />#216638140_v1 7
<br />4. Expiration of Project Permits. The Parties agree that, in light of the circumstances
<br />of the Dispute, the initial expiration date for all Project Permits shall be two (2) years after the
<br />Effective Date (the “Permit Expiration Date”) if the Project use is not established or if a building
<br />permit has not been issued for any work related to the Project on or before the Permit Expiration
<br />Date. Upon written request by Developer prior to the Permit Expiration Date, the City Zoning
<br />Administrator shall grant a one-time, one-year extension of the Project Permits. In addition, with
<br />respect to the Project Permit for the Vesting Tentative Map (File No. ZM2019-001), the expiration
<br />of the Vesting Tentative Map shall be extended in accordance with Government Code § 66452.6(a)
<br />and any other applicable provisions of the Subdivision Map Act (Gov. Code § 66410 et seq.).
<br />5. Mutual Release. Except with respect to the performance of its respective
<br />obligations under this Agreement, each of Developer and City, for itself, and its respective officers,
<br />officials, directors, members, representatives, agents, employees, affiliates, assigns, and
<br />successors-in-interest (each a "Releasing Party"), hereby fully waives and releases and discharges
<br />the other Party, and such other Party's respective officers, officials, directors, members,
<br />representatives, agents, employees, affiliates, assigns, and successors-in-interest (the "Released
<br />Parties"), from any and all claims, demands, actions, causes of action, damages, liabilities, losses,
<br />costs and expenses, including attorneys’ fees, whether known or unknown or foreseeable, which
<br />the Releasing Party now has or may have at any time in the future against any Released Parties
<br />arising directly or indirectly out of or relating to the Dispute, the Fees and Contributions, the
<br />Project MFA Fees, the PRA Request, or the Protest (collectively, “Claims”). The provisions of
<br />this Section shall not release or discharge any Party from any of its covenants or other obligations
<br />under this Agreement. Provided City is not then in breach of any of its covenants or other
<br />obligations under this Agreement or otherwise with respect to the Project, and subject to the
<br />provisions of Section 6(c) below, Developer covenants that it shall not commence, pursue,
<br />participate in, or support any suit, action or proceeding against any Released Parties with respect
<br />to the Dispute, the Protest, the PRA Request, the Fees and Contributions, or the Project MFA Fees,
<br />including, without limitation, Developer’s request pursuant to Gov. Code §66024(b)(2) set forth
<br />in the Protest. In connection with the foregoing release, each Releasing Party hereby waives the
<br />provisions of Section 1542 of the California Civil Code, which reads as follows:
<br />A general release does not extend to claims that the creditor or releasing party does
<br />not know or suspect to exist in his or her favor at the time of executing the release
<br />and that, if known by him or her, would have materially affected his or her settlement
<br />with the debtor or released party.
<br />Each Party represents and warrants that it is the sole owner of the Claims waived and released by
<br />such Party hereunder and that it has not assigned or transferred, or agreed to assign or transfer, any
<br />such Claims. Each Party acknowledges its voluntary and fully informed agreement to the
<br />provisions of this Section by initialing in the appropriate space below:
<br />INITIALS: City:_________ SyRES: _________ VillaSport: _________
<br />
<br /> Redwood Crossing: _________ Syufy: _________
<br />
<br />RS
<br />RS RS
<br />JSMD
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