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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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including but not limited to any alleged defense or indemnity obligation concerning the GTS <br />Site, the DOE Claim and hereby covenants and agrees to forever relinquish and abandon any and <br />all rights and Claims against the Insurers' Releasees, and each of them, with respect to such Claims <br />relating to the GTS Site. <br />C. Insurers' hereby fully, finally and completely acquit, release and forever discharge <br />the City Releasees, and each of them, from and covenant not to sue the City Releasees or any of <br />them, for any and all Claims, expenses and compensation of any kind and nature whatsoever, <br />relating to, arising out of, and/or in connection with the Policies and arising from or related to: (a) <br />the GTS Site; (b) the VCP Claim; (c) any other property or location onto which Environmental <br />Contamination has actually or allegedly emanated from, migrated from or been transported, moved <br />or in any way released from the GTS Site, but only to the extent of Environmental Contamination <br />from the GTS Site; (d) the negotiation and execution of this Agreement. <br />V. THIRD PARTIES <br />A. Except as otherwise set forth in this Agreement, no actions taken or payments made <br />pursuant to this Agreement will constitute a release of, or be construed as relieving, any third party <br />of any financial or other obligation it had, presently has or may have in the future. <br />B. Nothing herein shall in any way preclude or prohibit the Insurers from bringing or <br />pursuing any Claims against any of their reinsurers and/or retrocessionaires; notwithstanding <br />anything to the contrary in this Agreement, the Insurers retain all of their rights to pursue <br />reinsurance and to enforce any and all contracts with reinsurers and/or retrocessionaires. <br />VI. JUDGMENT REDUCTION/ CREDIT OFFSET <br />The City of Everett warrants that as of the Effective Date it does not have a judgment <br />against any other Person in connection with any of the Claims released under this Agreement. If <br />
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