View - City of Lathrop

obligations of DSIC and TCN to the Ciry under Exhibit A hereto and the 98K Bonds and
contingent on T2A 17 completing the Tract 3438 and Tract 3073 parks as detailed in the recitals
above and in pazagraph 4 below shall satisfy all of the obligations of DSIC and TCN to the City
under the attached Exhibits B and C and BOND
5691355 and Sb9134S Within five 5 business
days of the payment from DSIC to VALLEY counsel for VALLEY shall
file a dismissal with
prejudice of DSIC and CTTY in the Action The Parties aree that the previous settlement
agreement of the Action attached as Exhibit E is rescinded in its entirety from its inception by this
Agreement
4 Valley and TCN hereby irrevocably offer to dedicate to the CITY all improvements
that have been completed by TCN or VALLEY which are described in Recitals A B and R throuah
V The CITY hereby accepts the improvements as complete and releases TCN DSIC and Valley of
any further responsibility for the improvements
5 The City agrees to release and retum the originals of the 98k Bonds o counsel for
DSIC upon payment to theCIY by DSIC of the7233 00 provided for in Paza raph 3 hereof
The
City shalI adopt a Resolution confirming the acceptance of this Abeement and the release of the
98K Bonds within twen y 20 days of the receipt of the payment to the CTI Y provided for in
Parabaph 3 hereof
6 Contingent upon RD 17 completing the Tract 3438 and Tract 3073 Parks at no cost to
TCN or DSIC DSIC and TCN herein waive any right to construct and any right of reimbursement as
provided in parabaph 1 of the Park Improvement Abeement Tract 3438 and the Park Improvement
Agreement Tract 3073
7 DSIC remains obligated under the respective bonds for Tract 3438 and 3073 and TCN
remains obligated to complete the constrttction of those lineaz parks until City releases the
correspondi g bonds However The City agrees to release and return the originals of the Tract 3438
6
35