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TERMS
<br /> THEREFORE, in consideration of the terms herein, including the foregoing recitals, the
<br /> parties hereby agree as follows:
<br /> 1. Settlement. T. Bailey, Inc.'s insurer shall pay Plaintiffs the total sum of Two
<br /> Million, Nine Hundred Thousand Dollars, and No Cents ($2,900,000.00). The total shall be
<br /> paid as follows:
<br /> a. Two Million, Six Hundred Sixty Thousand Dollars, and No Cents
<br /> ($2,660,000.00) shall be paid in total to Plaintiff insurers Lexington Insurance
<br /> Company, Allied World Assurance Company (U.S.), Inc., Certain Underwriters at
<br /> Lloyds of London subscribing to policy Nos. B075ORNAFG1803649,
<br /> RNAFG 1803649,and Ace American Insurance Company. The funds shall be made
<br /> payable to: Denenberg Tuffley, PLLC IOLTA Account.
<br /> b. One Hundred, Forty Thousand Dollars, and No Cents ($140,000.00) shall
<br /> be paid in total to Plaintiff Certain Underwriters at Lloyds of London subscribing
<br /> to Policy No. PD-I 1055-00. The funds shall be made payable to: Nielsen,Zehe&
<br /> Antas, P.C. Trust Account.
<br /> c. One I-kindred Thousand Dollars, and No Cents($100,000.00)shall be paid
<br /> in total to the City of Everett. The funds shall be made payable to: The City of
<br /> Everett.
<br /> 2. Release by Plaintiffs In consideration of the promises and covenants made and
<br /> expressed herein, and except as otherwise provided herein, Plaintiffs, on behalf of themselves,
<br /> their predecessors, owners, members, successors, assigns, attorneys, insurance carriers, agents,
<br /> consultants, servants, employees, representatives, family members, and heirs do hereby release,
<br /> relieve, acquit, and forever discharge any and all Claims that were brought, could have been
<br /> brought,or relate to,or arise from the Lawsuit. This release includes all such foregoing described
<br /> Claims against any defendant named,or not named (e.g.T. Bailey, Ultraflote, DOES, et al.). The
<br /> release under this Section 2 becomes effective immediately after the Plaintiffs receive the entire
<br /> settlement payment on behalf of T. Bailey, Inc.
<br /> 3. Release by T. Bailey. In consideration of the promises and covenants made and
<br /> expressed herein, and except as otherwise provided herein, Defendant on behalf of itself, its
<br /> predecessors, owners, members, successors, assigns, attorneys, insurance carriers, agents,
<br /> consultants, servants, employees, representatives, family members, and heirs does hereby release,
<br /> relieve, acquit, and forever discharge Plaintiffs from any and all Claims brought, that could have
<br /> been brought, or relate to or arise from the Lawsuit. The release under this Section 3 becomes
<br /> effective immediately after the Plaintiffs file the dismissal with prejudice of the Lawsuit. Any and
<br /> all Claims by T. Bailey against others, including its Claims against Ultraflote and its agent Ronald
<br /> Case#21-2-0061 1-3 1 Page 2 of 5 Settlement Agreement
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