Agmt26 Juva Retail RWC Inc. Settlement Agreement

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ATTY/AGR/SETTLEMENTS/2026/JUVA RETAIL RWC INC./JUVA RETAIL RWC INC. SETTLEMENT AGREEMENT REV: 04-24-26 MI Page 3 of 9 L. On March 2, 2026, the City issued a notice of assessment to Permittee (“Notice of Assessment”), a true and correct copy of which is attached hereto as Exhibit A. M. On March 13, 2026, Permittee requested an administrative hearing to contest the Notice of Assessment. N. As partially documented above, disputes have arisen among Permittee, Purchaser, and the City regarding Permittee’s obligations to pay unpaid taxes, penalties, and interest (“Disputes”). Purchaser generally supports Permittee regarding the Disputes. O. The Parties, wishing to avoid the uncertainties, delay, and expense of continuing with the Disputes, including without limitation in administrative and or judicial proceedings, agree to settle upon the following terms. TERMS In consideration of the Recitals set forth above, the terms and conditions of this Agreement and other valuable consideration, the adequacy of which is hereby acknowledged, Permittee and the City agree as follows: 1. Recitals: The foregoing Recitals are true and correct and incorporated herein. 2. Settlement Payment: a. Amount: Permittee shall pay to the City, and the City shall accept, Two Hundred Twelve Thousand Two Hundred Ninety-eight dollars and forty-seven cents ($212,298.47) (“Settlement Payment”) in full settlement and compromise of the Disputes, and in release and discharge of any and all claims and causes of action arising out of Permittee’s failure to remit payment for the tax period spanning December 2023 through September 2025 under the terms and conditions set forth in this Agreement. Settlement Payment shall be made as follows: i. Within five (5) business days of the City’s approval of this Agreement, Permittee shall make an initial payment of Twelve Thousand Two Hundred Ninety-eight dollars and forty-seven cents ($12,298.47). ii. Thereafter, on a monthly basis, Permittee shall make additional payments in the amount of Twelve Thousand Five Hundred dollars ($12,500) for a period of sixteen (16) months until the remaining Two Hundred Thousand dollars ($200,000.00) is repaid in full. iii. Permittee shall deliver payments to the City’s Finance Department through check, cashier’s check, money order, or cash. b. Penalties and Interest for Late- or Non-payment: Permittee shall be subject to penalties and interest for late payment. A penalty of ten percent (10%) of the amount owed will be assessed for late payments. An additional penalty of ten percent (10%) shall be imposed for each subsequent ten (10) day period the amount owed remains unpaid.