Laserfiche WebLink
ALL INCLUSIVE SETTLEMENT AGREEMENT <br />This Agreement ( "Agreement ") is made by and between the City of Santa Ana, a public <br />body, corporate and politic ( "Agency ") and Chris Yoh and Sharon Yoh ( "Tenants "). The <br />Agency and Tenants are hereinafter sometimes referred collectively as the "Parties." <br />RECITALS <br />A. Tenants operate a business, commonly known as Luv N Donuts, and are the <br />occupants of real property located at 410 N Bristol St. Unit A., Santa Ana, CA (the <br />"Property "). <br />B. A portion of the Property has been acquired by the Agency for the Bristol Street <br />Widening Project. Tenants currently occupy the Property under a lease dated May 6, <br />1985, which commenced on May 6, 1985 and will terminate on August 1, 2012, by <br />means of a hand delivered written 90 Day Notice to Vacate (collectively, the <br />"Lease "). <br />C. The Parties desire to resolve all issues relating to the Tenants' loss of business <br />goodwill in accordance with the terms and conditions set forth below. <br />D. The Parties acknowledge that the payment as set forth in Section 1(a) and other <br />consideration given in connection with this Agreement are the result of a compromise <br />and settlement of disputed claims, and shall never, at any time or for any purpose, be <br />considered an admission of liability or responsibility on the part of any of the parties <br />herein released. <br />NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and <br />covenants hereinafter set forth, it is hereby agreed by and among the Parties that: <br />1. Consideration <br />(a) The Agency shall pay to Tenants the sum of $26,000.00 (Twenty -Six Thousand <br />Dollars) (Tenants Settlement Payment) as total compensation for goodwill loss <br />and any and all related expenses and claims as more fully described in paragraph <br />1(b) below. Upon full execution of this Agreement, the Agency will begin <br />processing a payment, payable to Chris Yoh and Sharon Yoh, in the amount of <br />$26,000.00. Payment is to be made after Tenants relocate to 410 N. Bristol Street, <br />unit E, Santa Ana, CA 92703. <br />(b) Tenants agree that the consideration received pursuant to paragraph 1(a) above <br />constitutes full satisfaction of any and all obligations of the Agency to Tenants, <br />including, without limitation, any obligations for interest of any kind in the real <br />estate and leasehold, loss of business goodwill, interest, attorney's fees, or <br />damages of any nature. <br />(c) Tenants will vacate the premises on or before August 1, 2012 <br />1 of 7 <br />25H -4 <br />