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TERMS.
<br />1.1 Settlement Payment The City shall pay Lonerock in the amount of Two Hundred
<br />Ninety -Five Thousand Dollars and Zero Cents ($295,000.00) for settlement of any and all claims
<br />and amounts due on the Project, including, but not limited to, the Dispute and Action (the
<br />"Settlement Payment"). Payment of the Settlement Payment shall be made within sixty (60)
<br />calendar days of final signature of this Settlement Agreement.
<br />1.2 Dismissal of Action with Prejudice. Lonerock will file a Request for Dismissal
<br />(with prejudice) of the Action within five (5) calendar days after the Settlement Payment has been
<br />received. Lonerock will provide the City's counsel a conformed copy of the entered dismissal
<br />within five (5) calendar days of receipt from the court.
<br />2. FULL SETTLEMENT.
<br />2.1 Except for the obligations set forth in the Agreement or otherwise noted herein, the
<br />Parties acknowledge that the Settlement Payment and dismissal of the Action shall constitute full
<br />and final settlement of all claims the Parties have against one another, including, but not limited
<br />to, compensation for all contract amounts and pending change orders, change order proposals and
<br />requests, contract balance, claims, backcharges, and credits related to the Dispute, Action, and
<br />Project.
<br />3. RELEASES.
<br />3.1 Release Of Claims by City.
<br />Except as set forth by this Settlement Agreement and as reserved in Section 3.5 below, City
<br />releases and discharges all claims of every kind whatsoever whether known or unknown, which
<br />City or any of its officials, officers, agents, representatives, employees, successors and/or assigns,
<br />asserts or could assert against Lonerock or any of its officials, officers, agents, shareholders,
<br />representatives, sureties, insurers, employees, predecessor, successors and/or assigns, relating to
<br />the Dispute, Action, and Project ("City Releases").
<br />3.2 Release Of Claims by Lonerock.
<br />Except as set forth by this Settlement Agreement and as reserved in Section 3.5 below,
<br />Lonerock releases and discharges all claims of every kind whatsoever whether known or unknown,
<br />which Lonerock or any of its officials, officers, agents, shareholders, representatives, employees,
<br />predecessors, successors and/or assigns, asserts or could assert against City or any of its officials,
<br />officers, consultants, agents, shareholders, representatives, sureties, insurers, employees,
<br />architects, engineers, construction managers, predecessor, successors and/or assigns, relating to
<br />the Dispute, Action, and Project ("Lonerock Releases").
<br />3.3 Released Matters.
<br />The City Releases and Lonerock Releases are collectively referred to as the "Released
<br />Matters." Specifically excluded from the Released Matters include any liability or obligation
<br />created by this Settlement Agreement.
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