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2 <br /> SETTLEMENT AGREEMENT <br /> This Settlement Agreement is dated for reference purposes February 2020,by and <br /> among the CITY OF EVERETT(the"City"or"Plaintiff);U.S.GOLDEN EAGLE FARMS LP <br /> and GOLDEN EAGLE FARMS LTD(collectively,"Golden Eagle"or"Defendants"). <br /> RECITALS <br /> A. In 2017,Golden Eagle excavated a drainage ditch on its property,which the City <br /> claims caused damage to Lowell-Larimer Road. Golden Eagle denies this. <br /> F. On September 4,2019,the City served a summons and complaint on Golden <br /> Eagle,regarding the alleged damage to Lowell-Larimer Road(the"Lawsuit). The Lawsuit <br /> complaint is attached as Exhibit A. The City has not filed the Lawsuit. <br /> C. The City and Golden.Eagle wish to settle their disputes,in accordance with the <br /> terms and conditions of this Settlement Agreement <br /> AGREEMENT <br /> For good and valuable consideration,the receipt and sufficiency of which is <br /> acknowledged,the City and Golden Eagle agree as follows: <br /> SECTION 1: SETTLEMENT PAYMENT <br /> No later than 10 business days after the date of full execution of this Agreement <br /> (including any City Council approvals needed),Golden Eagle,through its insurer,shall pay to <br /> the City an amount equal to$213,660.90. <br /> SECTION 2: RELEASE <br /> Except for Golden Eagle's obligations concerning payment under this Settlement <br /> Agreement,the City hereby effective upon delivery of the payment set forth in Section 1 releases <br /> and fully and forever discharges Golden Eagle,and any principals,agents,subsidiaries,directors, <br /> agents,and insurers,from any and all claims,demands,debts,guarantees,liabilities,obligations, <br /> Eros,general,special or consequential damages,losses,or potential losses,through any and all <br /> actions or causes of action of any nature whatsoever,whether known or unknown,foreseen or <br /> . unforeseen,at law or in equity or by statute,that the City now has or that may subsequently accrue <br /> to the City,that arise from damage to Lowell-Larimer Road caused by Golden Eagle's 2017 <br /> excavation. <br /> SECTION 3: LAWSUIT <br /> The City will not file the Lawsuit. 'The parties agree that this Agreement has the same <br /> effect as a dismissal with prejudice of the Lawsuit. <br /> SECTION 4: MISCELLANEOUS PROVISIONS <br /> A. Governing Law. The laws of the State of Washington,without giving effect to <br /> Page 1 <br /> 4 <br />