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<br />Case #21-2-00611-31 Page 1 of 4 Settlement Agreement
<br />SETTLEMENT AGREEMENT AND MUTUAL RELEASE OF ALL CLAIMS
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<br />This Settlement Agreement and Mutual Release of All Claims (“Settlement Agreement”),
<br />is by and between the parties, on the one hand T. Bailey, Inc. and its insurer Westchester Surplus
<br />Lines Insurance Company (“Defendant”), and on the other the City of Everett and its insurers
<br />Lexington Insurance Company, Allied World Assurance Company (U.S.), Inc., Certain
<br />Underwriters at Lloyds of London subscribing to policy Nos. B0750RNAFG1803649,
<br />RNAFG1803649, and PD-11055-00, and Ace American Insurance Company (“Plaintiffs”).
<br />Collectively, Defendant and Plaintiffs are called “the Parties” herein.
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<br />DEFINITIONS
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<br />“Parties” means Plaintiffs and Defendants and their respective heirs, successors,
<br />predecessors, agents, employees, owners, members, shareholders, attorneys, administrators,
<br />officers, insurers and assigns.
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<br />The term “Project” means the East Clearwell Roof Replacement Project undertaken by the
<br />City of Everett by contract with T. Bailey, Inc. dated September 13, 2017.
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<br />“Lawsuit” means the civil action in Snohomish County Superior Court, Cause No. 21-2-
<br />00611-31, known as City of Everett, et al. v. T. Bailey, et al. which resulted from a roof collapse
<br />at the East Clearwell facility located in Sultan/Monroe Washington on, or about, February 13,
<br />2019.
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<br /> “Claims” means any and all past, present, or future claims for loss, defect, deficiency, or
<br />damage, known or unknown, latent or patent, hidden or unhidden, which have allegedly occurred
<br />and/or which may occur in the future, including but not limited to causes of actions, or rights of any
<br />nature, which were or could have been brought by the Plaintiffs against any defendant named, or not
<br />named, which relates to or arises out of the subject matter of the Lawsuit (the roof collapse).
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<br />RECITALS
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<br />WHEREFORE, Plaintiffs filed a Complaint to initiate the Lawsuit on February 11, 2021,
<br />alleging that Defendant and Ultraflote owed Plaintiffs damages in the sum of $3,676,957.82, plus
<br />interest and costs. Defendant and Ultraflote have yet to file a responsive pleading. Plaintiffs will
<br />receive, per the terms and conditions described herein, a combined $2,900,000.00 from T. Bailey,
<br />Inc.’s insurer on its behalf, which will cause Plaintiffs to dismiss with prejudice their Claims
<br />alleged in the Lawsuit, including those against Ultraflote and John Does 1 through 20. It is also
<br />understood between the Parties that this Settlement Agreement is not to be construed as an
<br />admission of liability by any party, and this Settlement Agreement arises from a compromise of
<br />disputed Claims, and that this Settlement Agreement is made solely to avoid the inconvenience
<br />and expense of litigation.
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