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<br />e <br /> <br />e <br /> <br />damages, and any and all other damages, fees or costs to which Tenants are or may be <br />entitled as a result of City's acquisition of the Property for the Project. <br /> <br />b. Upon execution of this ASA, City will process an initial payment to Tenant JC <br />Realtors, Inc., in the amount of FIFTY THOUSAND AND NOlI 00 DOLLARS <br />($50,000.00); and to Tenant Jeronimo Chavez and Guadalupe Chavez dba Jeronimo <br />Chavez Income Tax & Real Estate a payment in the amount of FIFTY THOUSAND <br />AND NOll 00 DOLLARS ($50,000.00). <br /> <br />c. City will process a final payment to Tenant JC Realtors, Inc. in the amount of FIFTY <br />THOUSAND AND NOll 00 DOLLARS ($50,000.00), and to Tenant Jeronimo <br />Chavez and Guadalupe Chavez, dba Jeronimo Chavez Income Tax & Real Estate in <br />the amount of FIFTY THOUSAND AND NOlI 00 DOLLARS ($50,000.00), upon <br />satisfactory evidence to City that the following conditions have been satisfied: <br />Tenants have (1) vacated the Property; (2) executed and delivered to City a <br />Certificate of Abandonment of the Property, and (3) confirmed in writing to City that <br />any and all hazardous materials have been removed from the Property in accordance <br />with all applicable federal and state laws, ordinances andlor regulations. Each <br />payment referenced in this paragraph shall be subject to offsets as described in <br />section 2(a)(b), below. <br /> <br />d. Tenant's receipt of full payment of the consideration referenced in section I (a) (b) & <br />(c), above, will constitute full satisfaction of any and all of City's obligations to <br />compensate Tenants relating to City's acquisition of the Property for the Project. <br /> <br />e. As a matter of record, the compensation paid to Tenants in accordance with this ASA <br />shall be proportioned in the following amounts: <br /> <br />I. Relocation benefits paid to JC Realtors, Inc. shall equal TEN THOUSAND AND <br />NOlI 00 DOLLARS ($10,000.00); Relocation benefits paid to Jeronimo Chavez <br />and Guadalupe Chavez dba Jeronimo Chavez Income Tax & Real Estate shall <br />equal TEN THOUSAND AND NOlI 00 DOLLARS ($10,000.00). <br /> <br />2. Payment to Tenant JC Realtors, Inc, for Tenant owned improvements pertaining <br />to realty shall equal ONE THOUSAND EIGHT HUNDRED EIGHTY TWO <br />AND 501100 DOLLARS ($1,882.50); Payment to Tenant Jeronimo Chavez and <br />Guadalupe Chavez dba Jeronimo Chavez Income Tax & Real Estate for Tenant <br />owned improvements pertaining to realty shall be ONE THOUSAND EIGHT <br />HUNDRED EIGHTY TWO AND 501100 DOLLARS ($1,882.50). <br /> <br />3. Payment to Tenant JC Realtors, Inc. for Leasehold bonus value and potential loss <br />of business goodwill shall equal EIGHTY EIGHT THOUSAND ONE <br />HUNDRED SEVENTEEN AND 501100 DOLLARS ($88,117.50); Payment to <br />Jeronimo Chavez and Guadalupe Chavez dba Jeronimo Chavez Income Tax & <br />Real Estate for Leasehold bonus value and potential loss of business goodwill <br /> <br />Acquisition Settlement Agreement <br />Page 2 of8 <br /> <br />