25H - SETTLEMENTS BRISTOL ST CORRIDOR

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ALL INCLUSIVE SETTLEMENT AGREEMENT This Agreement ("Agreement") is made by and between the City of Santa Ana, a charter city and municipal corporation duly organized and existing under the Constitution and laws of the State of California ("City") and Oro Corporation dba Silva and Silva Enterprises ("Tenant"). The City and Tenant are hereinafter sometimes referred collectively as the "Parties." RECITALS A. Tenant operates a business, commonly known as Silva & Silva Enterprises, located at 918 N. Bristol Street, Santa Ana, CA (the "Property"). B. The City has made an offer to purchase the Property for the Bristol Street Widening Project. The property owners, Jonathan and Delia Silva and City have negotiated a Purchase and Sale Agreement ("PSA") for the Property ("Property"), which will result in the termination of Owner's and Tenant's rights, title and/or interests in the Acquired Property. C. The Parties desire to resolve all issues relating to the City's acquisition of the Property in accordance with the terms and conditions set forth below. D. The Parties acknowledge that the payment as set forth in paragraph 1(a) and other consideration given in connection with this Agreement are the result of a compromise and settlement of disputed claims, and shall never, at any time or for any purpose, be considered an admission of liability or responsibility on the part of any of the parties herein released. NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and covenants hereinafter set forth, it is hereby agreed by and among the Parties that: 1. Consideration (a) The City shall pay to Tenant the sum of $228,000.00 (Two Hundred Twenty Eight Thousand Dollars) (Tenant Settlement Payment) as total compensation for relocation assistance and any and all related expenses and claims as more fully described in paragraph 1(b) below. Upon full execution of this Agreement, the City will begin processing an initial payment, payable to Silva & Silva Enterprises, in the amount of $128,000.00. The City will make the final payment to Tenant in the amount of $100,000.00 after Tenant vacates the Property, signs a Certificate of Abandonment, provides all keys to the Property to the City or to the City's relocation consultant, and provides written verification that all hazardous materials have been legally and properly moved. (b) Tenant agrees, that the consideration received pursuant to paragraph 1(a) above constitutes full satisfaction of any and all obligations of the City to Tenant, including, without limitation, any obligations for relocation assistance, relocation benefits, moving expenses, interest of any kind in the real estate and leasehold, loss of business goodwill, compensation for personal property (loss of inventory), furniture, fixtures and equipment, interest, attorney's fees, appraisal fees, or damages of any nature. 1 of 7 25H-5