RIOS, ANTONIO DBA THE SMOG PLACE (Loss of Business Goodwill)

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LOSS OF BUSINESS GOODWILL SETTLEMENT AGREEMENT This Agreement ( "Agreement ") is made by and between the City of Santa Ana, a public body, corporate and politic ( "Agency ") and ANTONIO E. RIOS DBA THE SMOG PLACE ("Tenant"). The Agency and Tenant are hereinafter sometimes referred collectively as the "Parties." RECITALS A. Tenant operates a business, commonly known as The Smog Place, and was the occupant of real property located at 1222 E. Fourth Street, Santa Ana, CA (the "Property ") B. The Property is being acquired by the Agency for the Grand Avenue Widening Project. Tenant occupied the Property at the initiation of negotiations to acquire the fee interest of the Property. C. The Parties desire to resolve all issues relating to the Agency's acquisition of the Property in accordance with the terms and conditions set forth below. D. The Parties acknowledge that the payment as set 'l.'orth in Section l(a) and other consideration given in connection with this Agreement are the result of a negotiated agreement between the parties. NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and covenants hereinafter set forth, it is hereby agreed by and aunong the Parties that: 1. Consideration (a) The Agency shall pay to Tenant the sum of $30,000.00 (Thirty Thousand and 001100 Dollars) (Tenant Settlement Payment) as total compensation for goodwill loss. Upon full execution of this Agreement, the Agency will begin processing a payment, payable to "The Smog Place" in the amount of $30,000.00. (b) Tenant agrees, that the consideration received pursuant to paragraph 1(a) above constitutes full satisfaction of any and all obligations of the Agency to Tenant for loss of business goodwill. (e) Tenant vacated the premises on October 31, 2013. 2. Release (a) Nothing contained herein shall constitute a release or discharge by either party for any of the umdert'akings of the other party to this Settlement Agreement. This Agreement shall serve as a full release and discharge by the Parties, on behalf of themselves, their agents, representatives, assigns, trustees, administrators, attorneys, heirs, relatives, spouses, ex- spouses,' beneficiaries, and successors in interest, in consideration of the mutual covenants and promises contained herein, of the Tenant, the City of Santa Ana, the City of Santa Ana Public Works Agency, I of 6