LEE, YONG JAE AND HEA JUNG LEE - Laserfiche WebLink

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SETTLEMENT AGREEMENT AND MUTUAL RELEASE OF CLAIMS This Settlement Agreement and Mutual Release of Claims (hereinafter referred to as the "AGREEMENT") is entered into 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 YONG JAE LEE AND HEA JUNG LEE ( "LEES "). The CITY and LEES are hereinafter sometimes referred to individually as "PARTY" and collectively as the "PARTIES." The Effective Date of this AGREEMENT shall be the date on which the AGREEMENT has been fully executed by the CITY and LEES. In order to avoid the costs, expense, and uncertainty of protracted litigation, the PARTIES hereby enter into this AGREEMENT as set forth below. RECITALS This AGREEMENT is based on the following facts: A. LEES operated an Acupuncture Business, commonly known as Santa Ana Acupuncture located at 1411 North Bristol Street, Santa Ana, CA 92706 ( "PROPERTY "). LEES also owned the PROPERTY, which is unencumbered. B. The PARTIES desire to resolve the CITY's acquisition of the PROPERTY in accordance with the terms and conditions set forth herein. C. The PARTIES acknowledge that the payment as set forth in paragraph I and other consideration given inconncotion 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, Page 1 of 8 43766913 -N]476,1