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Century Indemnity Company 10/5/2025
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Century Indemnity Company 10/5/2025
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Last modified
10/8/2025 1:43:31 PM
Creation date
10/8/2025 1:41:34 PM
Metadata
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Template:
Contracts
Contractor's Name
Century Indemnity Company
Approval Date
10/5/2025
Council Approval Date
10/1/2025
End Date
10/5/2025
Department
Legal
Department Project Manager
Tim Benedict
Subject / Project Title
SETTLEMENT AGREEMENT AND SITE RELEASE
Tracking Number
0004977
Total Compensation
$1,311,609.00
Contract Type
Agreement
Contract Subtype
Settlement Agreements
Retention Period
6 Years Then Destroy
Imported from EPIC
No
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A. The City of Everett, on its own behalf and on behalf of the City Releasees, hereby <br />fully, finally and completely acquits, releases and forever discharges the Insurers' Releasees, and <br />each of them, from and covenant not to sue the Insurers' Releasees, or any of them, for any and all <br />Claims, expenses and compensation of any kind and nature whatsoever, relating to, arising out of, <br />andior in connection with the Policies which arise from or relate to: (a) the GTS Site; (b) the VCP <br />Claim; (c) any other property or location which Environmental Contamination has actually or <br />allegedly emanated from, migrated from or been transported, moved or in any way released <br />from the GTS Site, but only to the extent of Environmental Contamination from the GTS Site; (d) <br />the negotiation and execution of this Agreement; and (e) relating to the GTS Site, any alleged bad <br />faith, alleged violation of any statute or regulation, including, but not limited to, Unfair Claim <br />Practices Acts (specifically including the Insurance Fair Conduct Act), Consumer Protection Acts, <br />or other similar statutes of each of the fifty (50) states (when applicable) based upon any act or <br />omission of the Insurers' Releasees, or any of them, whether sounding in breach of contract, <br />breach of express or implied warranty, breach of any duty of good faith and fair dealing, breach <br />of statutory duties, actual or constructive breach of fiduciary duty, actual or constructive fraud, <br />unfair insurance acts or practices, unfair or deceptive acts or trade practices, or any other theory <br />relating to any alleged misconduct or wrongdoing of any kind by the Insurers' Releasees, or any <br />of them. All Claims released by this Section IV.A. will be referred to hereinafter as the "City of <br />Everett Released Claims." <br />B. The City of Everett, on its own behalf and on behalf of the City Releasees, hereby <br />withdraws all requests, demands and tenders for indemnity, defense or any and all other <br />reimbursement made to the Insurers' Releasees, and each of them, relating to the GTS Site, <br />including but not limited to any and all Claims under the Policies relating to the GTS Site, <br />
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