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2 <br />may have already been reported or asserted against the City and/or Hos Brothers and all <br />Residential Claims that may be asserted against the City and/or Hos Brothers in the future. <br />4. Claims Adjustment Procedure. The Parties recognize that each of them, <br />through their respective “Designee,” should have an opportunity to review the Residential <br />Claims in accordance with the following Claims Adjustment Procedure: <br />a. Claim Filings. For each Residential Claim filed with the City in <br />accordance with RCW 4.96.020 on the required Tort Claim Form, the City or the <br />City Designee shall forward that documentation to the Hos Brothers Designee <br />identified in Section 9 below. <br />b. Claim Documentation. For each Residential Claim filed, the City <br />or the City Designee will gather the claim documentation that it determines is <br />sufficient to proceed with adjustment of the Residential Claim. <br />c. Claim Analysis. <br />(i) Adjustment Standards. In making the adjustments described <br />herein, the Parties agree to use recognized standards for the <br />adjustment of real and personal property liability claims, and <br />consideration will be given to the age and condition of personal <br />property to arrive at an actual cash value for those items where <br />depreciation may be applied (the “Adjustment Standards”). <br />(ii) City Initial Recommendation. After documentation has been <br />gathered and reviewed, the City or the City Designee shall prepare <br />a draft report of its findings and propose a recommended settlement <br />amount in accordance with the Adjustment Standards, and shall <br />forward the report and recommendation to the Hos Brothers <br />Designee for review and consideration. Hos Brothers or the Hos <br />Brothers Designee shall within 14 days inform the City’s Designee <br />if Hos Brothers or the Hos Brothers’ Designee agrees with the City’s <br />recommendation or wishes to meet to discuss the Residential Claim <br />in accordance with the Adjustment Standards. If Hos Brothers <br />agrees with the City’s recommended settlement amount, that <br />amount shall be the agreed “Adjusted Settlement Amount” for <br />resolution of the Residential Claim. If Hos Brothers does not agree <br />with the City’s recommended settlement amount, the Parties shall <br />confer in good faith regarding an Adjusted Settlement Amount for <br />that Residential Claim. <br />(iii) Residential Claimant Reimbursement. After determination of an <br />agreed Adjusted Settlement Amount for a Residential Claim, the <br />City shall offer the Adjusted Settlement Amount to the Residential <br />Claimant, on the condition that the Residential Claimant executes a <br />“Residential Claimant Release” in substantially the form attached