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G. City and Peltier, having negotiated at arm's length in good faith, have voluntarily <br />agreed to a settlement of the Condemnation Action, whereby, among other things, (1) City will <br />transfer any interests it has obtained in Parcel 1 by way of quitclaim deed to Peltier; (2) Peltier will <br />grant a drainage and utility easement to City; (3) City will pay Peltier $61,179.29 plus $9,000 in <br />attorneys' fees, for a total resolution amount of $70,179.29; (4) the Parties will stipulate to <br />disbursement of the Quick -Take Deposit to City; and (5) the Final Certificate to be filed and <br />recorded in the Condemnation Action will reflect no acquisition of property interests by <br />condemnation. <br />H. Therefore, the Parties wish to resolve the Condemnation Action to the extent and <br />as set forth in this Settlement Agreement. <br />NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and <br />exhibits contained and referenced herein, the Parties hereto, on behalf of themselves, their <br />successors, and assigns, agree as follows: <br />1. Recitals. The above recitals are hereby incorporated into this Settlement Agreement <br />as if fully set forth herein. <br />2. Quitclaim Deed from City. City will execute the quitclaim deed attached as Exhibit <br />3. Drainage and Utility Easement. Peltier and Salo will execute the drainage and <br />utility easement attached as Exhibit C. <br />4. Payment. The City will promptly make a payment of $61,179.29 plus $9,000 in <br />attorneys' fees, for a total resolution amount of $70,179.29 by check made out to Peltier Lake, <br />LLC and Fredrikson & Byron, P.A upon receiving the Drainage and Utility Easement. <br />-2- <br />