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damages incurred in this action (the "Settlement Payment") made payable to City of Santa Ana. The payments shall be made to "City of Santa Ana" as follows: City of Santa Ana, Santa Ana City Attorney's Office, 20 Civic Center Plaza, M29, P. O. Box 1988, Santa Ana, California 92702. The Settlement Payment shall made shall be paid to the City pursuant to the following payment schedule: (1) The amount of Five Thousand Dollars ($5,000.00) shall be paid within thirty (30) days of the execution of this Agreement; and (2) The remaining balance of Fourteen Thousand Four Hundred Fifty $14,450.00 shall be paid in equal monthly installments of Five Hundred Dollars ($500.00) each commencing within sixty (60) days of the execution of this Agreement and continuing for a period of twenty-four (24) months on the first (I") of each month; and (3) Following the twenty-fourth (24") monthly payment a balloon payment of Two Thousand Four Hundred and Fifty Dollars ($2,450.00) shall be due for the retraining balance within thirty (30) days from the last monthly payment. Withdrawal of Lis Pendens. The City shall withdraw the recorded Notice of Pendency of Action filed at the Orange County Clerk -Recorder's Office against the Property within five (5) business days after the request for dismissal of this Action is filed. 4. Release. (a) Notwithstanding the provisions of Civil Code section 1542, Defendant hereto hereby irrevocably and unconditionally release and forever discharge Plaintiffs and each and all of Plaintiffs' officers, agents, directors, supervisors, employees, agents, representatives, and Plaintiffs' successors and assigns and all persons acting by, through, under, or in concert with Plaintiffs from any and all charges, complaints, claims, violations and liabilities of any kind or nature whatsoever, known or unknown suspected or unsuspected (hereinafter referred to as a "Claim" or "Claims") which Defendant at any time heretofore had or claimed to have or which Defendant at any time now or hereafter may have or claim to have, which relates or pertains to the Property in any manner and/or to the allegations contained in the complaint filed in the Action. (b) Notwithstanding the provisions of Civil Code section 1542, Plaintiffs hereto hereby irrevocably and unconditionally release and forever discharge Defendant and each and all of Defendant's officers, agents, directors, supervisors, employees, agents, representatives, trustees, prior trustees successors and assigns and all persons acting by, through, under, or in concert with Defendant from any and all Claim or Claims which Plaintiffs at any time heretofore had or claimed to have or which Plaintiffs at any time now or hereafter may have or claim to have, which relates or pertains to the Property in any manner and/or to the allegations contained in the complaint filed in the Action. 2