2014-121 Council Resolution - Laserfiche WebLink

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3. Release of Claims. In consideration of the reduction of the Special Assessment described above, the Bank does hereby, for itself and for its heirs, executors, administrators, successors, and assigns, releases, acquits, and forever discharge the City and its current or former Council members, agents, employees, servants, successors, insurers, and attorneys from any and all claims, actions, causes of action, demands, rights, damages, costs, loss of service, expense, and compensation whatsoever, including claims for attorneys' fees, known or unknown, asserted or unasserted, which arise out of or in any way relate to the original Special Assessment or the City's adoption of the Special Assessment. 4. Dismissal of Current Claims. The Bank shall dismisses, with prejudice and on the merits, all claims and causes of action which are or could have been made in the Anoka District Court appeal entitled First Resource Bank, organized and existing under the laws of Minnesota, as successor owner to Patriot Bank Minnesota, organized and existing under the laws of Minnesota, as successor owner to East Lino Lakes, LLC, a Minnesota limited liability company v. City of Lino Lakes (Court File No. 02 -CV -11- 7766), with each Party to bear its own costs, expenses and attorney fees. Upon executing this Agreement, the Bank will execute the Stipulation of Dismissal attached hereto as Exhibit 1. 5. No Wrongdoing. The Parties understand and agree that this Agreement is the compromise of a disputed claim and that the reduction of the Special Assessment cannot be construed as an admission of liability or wrongdoing on the part of any Party. 6. Equal Drafting, Choice of Law and Severability. This Agreement must be deemed to have been drafted equally by the Parties. This Agreement will be governed by the laws of the State of Minnesota. If any provision of this Agreement is held unenforceable by a court of law, the remainder of the Agreement shall remain in full force and effect. 7. Authority. The individuals signing below warrant that they have authority from their respective governing bodies to execute this Agreement and to bind their respective Parties. 8. Entire Agreement. This Agreement is a legally binding contract that represents the entire agreement between the Parties. This Agreement supersedes any and all prior agreements between the Parties as to the subject matter of this Agreement. No Party has relied on any statement or promise that is not contained in this Agreement. No changes or additions to this Agreement are valid unless they are in writing and signed by all Parties.