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WHEREAS, the initial appraisal of the market value of the Property was <br />$360,000.00 of which $255,000.00 was paid to Guerin and $105,000.00 was deposited with <br />the District Court. <br />WHEREAS, the District Court deposit was returned to the City pending disposition <br />of this case. <br />WHEREAS, the City and Guerin disagree as to the necessity of clean up, the <br />responsibility for clean up, and the impact of the release on the market value of the Property. <br />WHEREAS, the City and Guerin desire to resolve their dispute and this litigation by <br />means of this Stipulated Settlement Agreement. <br />DEFINITIONS: <br />"Restricted Fund" is defined as a fund under the control of the City, which includes <br />investmentsapproved pursuant to Minnesota Statutes, accruing interest at the market interest <br />rate. The City shall have sole access to the Restricted Fund at its discretion pursuant to the <br />terms of this Agreement. <br />"Redevelopment Project" is defined as any City approved redevelopment project <br />for the Property. <br />NOW THEREFORE, in considerationofthe following promises and covenants. the <br />parties hereby agree: <br />2 <br />