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<br /> (c) Tenant agrees to vacate the premises on or before March 31, 2011. ("Vacate
<br /> Date"). Should Tenant remain in occupancy beyond the Vacate Date, a Two
<br /> Hundred Fifty Dollar ($250) per day penalty will be deducted from Tenant's
<br /> Settlement Payment, for each day of occupancy beyond the Vacate Date unless
<br /> a written request for an extension has been submitted and consequently
<br /> approved by the City or its Agents.
<br /> (d) Tenant's receipt of full payment of the consideration referenced in section 1 (a)
<br /> above, shall constitute full satisfaction of any and all of the City's obligations to
<br /> Tenant relating to the City's acquisition of said Acquired Property.
<br /> (e) As a matter of record, the compensation paid in accordance with this ASA shall
<br /> be proportioned in the following amounts: Relocation Expenses in the amount of
<br /> $165,000; Tenant's liquor license in the amount of $25,000; and the remaining
<br /> payment of $888,510 for loss of Inventory, leasehold, furniture, fixtures and
<br /> equipment, loss of business goodwill, attorney fees, appraisal fees, or remaining
<br /> damages of any nature.
<br /> (f) Upon receipt of final payment, Tenant will relinquish to City their liquor license
<br /> and remaining business inventory. As part of this ASA, Tenant has the option to
<br /> keep their liquor license and reducing the final settlement by $25,000.
<br /> 2. Release
<br /> (a) Nothing contained herein shall constitute a release or discharge by either party
<br /> for any of the undertakings of the other party to this Settlement Agreement. This
<br /> Agreement shall serve as a full release and discharge by the Parties, on behalf of
<br /> themselves, their agents, representatives, assigns, trustees, administrators,
<br /> attorneys, heirs, relatives, spouses, ex-spouses, beneficiaries, and successors in
<br /> interest, in consideration of the mutual covenants and promises contained herein,
<br /> of the Tenant, the City of Santa Ana, the City of Santa Ana Public Works Agency,
<br /> and those parties' accountants, other professionals, agents, representatives,
<br /> assigns, employees, administrators, trustees, insurers, attorneys, heirs,
<br /> beneficiaries, and successors in interest (collectively the "Released Parties"),
<br /> from all rights, claims or cross-claims, demands, actions, or causes of action,
<br /> including those for damages, compensation, relocation assistance, relocation
<br /> benefits, loss of goodwill, property interest, compensation for personal property
<br /> (loss of inventory), furniture, fixtures and equipment, punitive damages, interest,
<br /> costs, attorney's and appraisal fees, injunctive or declaratory relief, or for relief by
<br /> way of writ of mandate, or for demands, damages, refunds, debts, liabilities,
<br /> reckonings, accounts, obligations, costs, expenses, liens, actions, causes, and
<br /> causes of action of whatever kind, at law or in equity, that the Parties have now
<br /> or may have against any of the Released Parties arising from the facts and
<br /> circumstances described in this Agreement including but not limited to (1) the
<br /> acquisition of the Property by the City, (2) Tenant's leasehold interest, if any, in
<br /> the Property (or any portion thereof) or (3) any other right or interest Tenant may
<br /> have, assert, or claim by reason of City's actions or failure to act, including, but
<br /> not limited to, any claim to relocation assistance, relocation benefits or
<br /> compensation for property or loss of goodwill from the City.
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