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<br />interest protection or privilege. The Parties shall, subject to
<br />applicable law, keep confidential all documents and records created
<br />by either Party (or by a Party’s agents or contractors) in connection
<br />with (A) the adjustment of Residential Claims, (B) the determination
<br />of settlement amounts for Residential Claims, or (C) the arbitration
<br />process set forth in subsection 4(iv).
<br />5. Settlement Consideration. The Parties acknowledge and agree that the
<br />City’s and Hos Brothers’ respective payments made pursuant to Section 4 above are good
<br />and valuable consideration for this Settlement Agreement, given the risks and costs
<br />associated with potential litigation, which is intended to be avoided by this Settlement
<br />Agreement. It is agreed that, upon the City’s receipt of the Reimbursement Payment
<br />associated with a Residential Claim, such Residential Claim is released under the terms set
<br />forth in Section 6 herein, irrespective of whether any other Residential Claim has not been
<br />resolved.
<br />6. Releases.
<br />a. Persons/Entities Released. Unless specifically excepted in this
<br />Settlement Agreement, the following persons and entities are released in accordance
<br />with subsection (b) below: the City, Hos Brothers Construction Inc. (“Hos Bros”), the
<br />Hos Brothers Designee(s), American Alternative Insurance Corp. (“AAIC”), Gallagher
<br />Bassett (“GB”), excess insurers, reinsurers, and each of their respective past and
<br />present owners, elected officials, officers, managers, employees, agents, attorneys,
<br />representatives, and insurers, and further including their present and future parent and
<br />subsidiary companies, affiliates, related entities, predecessors, successors, assigns,
<br />spouses, directors, servants, heirs, executors, administrators, and beneficiaries
<br />(collectively the “Party Releasees”).
<br />b. Claims Released. The Party Releasees as to each other are released
<br />and discharged fully and completely from and against each and every Residential
<br />Claim for which (i) the City has issued to the Residential Claimant a Settlement
<br />Payment, (ii) the City has obtained an executed Residential Claimant Release, and
<br />(iii) the City has received a full Reimbursement Payment from Hos Brothers (the
<br />“Released Residential Claims”). Such release encompasses without limitation any
<br />and all liability, rights, claims, demands, actions, judgments, and causes of action,
<br />in law or in equity, under statutory or common law, contractual or extra-contractual,
<br />known or unknown, past, present or future, claimed or unclaimed, direct or indirect,
<br />fixed or contingent, liquidated or uncertain, latent or patent, of any kind
<br />whatsoever, arising out of or in any way relating to the Released Residential Claims
<br />and the Claims Adjustment Procedure with respect to such Released Residential
<br />Claims, regardless of whether any such Released Residential Claim is for or
<br />comprises property damages, personal injury, torts, statutory claims, environmental
<br />claims or damages, attorney fees, costs, hedonic, punitive, or administrative
<br />damages or any other type of damages related to or arising from the Released
<br />Residential Claims.
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