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<br />SETTLEMENT AGREEMENT AND RELEASE
<br />(Aldo G. Parenti and Debra L. Parenti)
<br />
<br />III vi This Settlement Agreement and Release ("Agreement") is entered into as of the
<br />q11\.day of May, 2004, by and between the City of Redwood City, a charter city and
<br />municipal corporation of the State of California ("City"), and Aldo G. Parenti and Debra
<br />L. Parenti ("Claimants") (hereinafter referred to collectively as "Parties").
<br />
<br />WHEREAS, Claimants have filed a claim against the City of Redwood City as a
<br />result of alleged water damage to Claimants' property located at 772 Bain Place in
<br />Redwood City; and
<br />
<br />WHEREAS, such alleged property damage was allegedly incurred on or about
<br />December 16, 2002; and
<br />
<br />WHEREAS, the Parties wish to settle the Claimants' claim.
<br />
<br />NOW, THEREFORE, in consideration of the payment by City to Claimants of the
<br />sum of TWO THOUSAND FOUR HUNDRED DOLLARS ($2,400.00), and other
<br />valuable consideration, each Party, on its own behalf, and on behalf of its successors
<br />and assigns, does hereby agree as follows:
<br />
<br />1. No later than ten (10) calendar days from the date first written above, City
<br />shall pay Claimants the sum of TWO THOUSAND FOUR HUNDRED DOLLARS
<br />($2,400.00), ("Payment") in the form of a cashier's check, wire transfer, or City check
<br />payable to "Aldo G. Parenti and Debra L. Parenti."
<br />
<br />2. Upon payment of the sum required by paragraph 1, Claimants, on behalf
<br />of themselves, their successors and assigns, and in consideration of the terms and
<br />conditions set forth herein, hereby release and forever discharge all claims, causes of
<br />actions, and damages they now have or may have, known or unknown, against City, its
<br />council, boards, commissioners, officers, employees and agents, and their respective
<br />successors and assigns, that arise out of or in connection with the water damage
<br />allegedly incurred on or about December 16, 2002, whether said claims, assertions, or
<br />allegations were made or not, and hereby covenants not to sue City, its council, boards,
<br />commissioners, officers, employees and agents, in connection therewith.
<br />
<br />3. Claimants hereby agree to defend, indemnify, and save harmless City, its
<br />council, boards, commissioners, officers, employees and agents, from and against any
<br />and all claims, suits, actions, liability, loss, damage, expense, cost (including, without
<br />limitation, costs and fees of litigation) of every nature, kind or descriptions, which may
<br />be brought against, or suffered or sustained by City, its council, boards, commissioners,
<br />officers, employees and agents arising out of or in connection with the water damage
<br />allegedly incurred on or about December 16, 2002.
<br />
<br />Atty/AgrlSettiement AgreementParenti
<br />051304
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