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D. The PARTIES agree that this AGREEMENT satisfies all claims regarding the acquisition <br />of the subject PROPERTY such as residential relocation, furniture, fixtures and equipment, <br />business relocation, loss of business goodwill and the purchase of the real property in a <br />global settlement amount of $840,000.00. The PARTIES acknowledge that they are <br />waiving significant legal rights and/or claims by entering into this AGREEMENT. Each <br />PARTY has consulted with legal coLmsel, has a full and complete understanding of the <br />terms and legal effect of the AGREEMENT, and intends to be bound thereby. <br />TERMS OF AGREEMENT <br />1. Payment: The CITY shall pay to LEES the sum of $840,000.00 (Eight Hundred <br />and Forty Thousand Dollars) as the final total compensation for the acquisition of the subject <br />PROPERTY. The CITY as soon as practical after full execution of this Agreement and Deed <br />attached hereto as Exhibit 1, but in no event later than twenty (20) days thereafter, shall pay <br />$840,000.00 via wire transfer as follows: AlvaradoSmith Client Trust Account, Acct # 844164988, <br />Routing Number 322271627, Swift # Chasus33. The LEES agree, that the consideration received <br />pursuant to this paragraph constitutes full satisfaction of any and all obligations of the CITY to the <br />LEES. <br />2. Condemnation, CITY and LEES acknowledge that this transaction is a negotiated <br />settlement in lieu of CITY exercising its power of eminent domain. CITY and LEES further <br />acknowledge that CITY is acquiring the Subject Property set forth herein under the threat of the <br />power of eminent domain._ <br />3. CITY and LEES agree that LEES may remain in the PROPERTY for thirty days from <br />the date that the $840,000 payment described in Paragraph I above is tendered or June 30, 2016, <br />whichever date is later. The LEES will provide any keys to the CITY immediately upon the vacation <br />Page 2 of 8 <br />4376691.1 - N1476J <br />