Loading...
HomeMy WebLinkAboutColton Joint Unified School District y SETTLEMENT AGREEMENT AND MUTUAL GENERAL RELEASE THIS WRITING REPRESENTS THE SETTLEMENT AGREEMENT AND GENERAL RELEASE,hereinafter referred to as "AGREEMENT," made and entered into,in the City of Grand Terrace, to be performed in the City of Grand Terrace, on this 19th day of January , 2012, by and between the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF GRAND TERRACE, hereinafter referred to as "AGENCY " and COLTON JOINT UNIFIED SCHOOL DISTRICT,hereinafter referred to as "DISTRICT." WHEREAS,disputes exist between AGENCY and DISTRICT regarding DISTRICT'S entitlement to allocation of pass through funds by AGENCY for fiscal years 1997-98 though 2002-03, and the calculation of such allocations; WHEREAS,AGENCY and DISTRICT agree that certain calculation errors were made in allocations of pass through payments of AGENCY tax increment for the fiscal years 1997-98 through 2002-03 and that such errors were corrected in subsequent fiscal years; WHEREAS, AGENCY and DISTRICT have negotiated a settlement of their dispute on whether and how past errors in allocations of pass through payments should be repaid or adjusted; WHEREAS, AGENCY and DISTRICT agree that DISTRICT's allocation from AGENCY for pass through payment for the fiscal year 2010-11 is the amount of Two Hundred Twenty Eight Thousand One Hundred Fifty Two Dollars($228,152),net of a credit owed to Agency pursuant to The Second Tax Increment Agreement entered into between the parties in or about March 2002; and, WHEREAS, the AGENCY and DISTRICT wish to forever resolve, settle, and discharge their differences under circumstances where neither party admits the validity of any of the contentions of the other party,including whether or not DISTRICT would be entitled to any other or further rights or relief. NOW,THEREFORE, IT IS AGREED BETWEEN AGENCY AND DISTRICT as follows: 1. Benefits. AGENCY shall pay to DISTRICT the sum of One Million, One Hundred Fifty Eight Thousand Eight Hundred Eighty Eight Dollars ($1,158,888). This sum represents the total funds to be paid to DISTRICT by AGENCY for fiscal years 1997-98, 1998-99, 1999-00, 2000-01, 2001-02, 2002-03 and 2010-11 taking into account, and offsetting as appropriate, credits and overpayments made due to calculation errors and any claimed allocation rights during those fiscal years. All funds agreed to be paid to DISTRICT by AGENCY hereunder shall be paid in full within thirty(30) days from the execution of this AGREEMENT. Settlement Agreement and Mutual General Release Page 2 2. Complete Release by Both Parties. Each party does hereby releases, acquits and discharges the other and the City of Grand Terrace, hereinafter referred to as "CITY," their respective agents, officers, employees, council members, and attorneys from any and all claims each party has, or may have, whether now known or not relating to events leading up to this AGREEMENT. 3. Knowing and Voluntary Waiver by the Parties. The parties expressly waive and relinquish all rights and benefits afforded by the provisions of Section 1542 of the Civil Code and acknowledge that, even if later facts of any kind or description are discovered which create a liability of the AGENCY, DISTRICT or CITY previously unknown and not suspected by either party, such liability will have been forever released by this AGREEMENT. Section 1542 of the Civil Code provides as follows: A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. 4. Non-Admission of Liability. By execution of this AGREEMENT neither party admits to the allegations,contentions, or claims of the other party and each parties❑ allegations, contentions, and claims are denied by each other party hereto. 5. Sole and Entire Agreement. The provisions of this AGREEMENT contain all the agreements and promises made by any signatory hereto concerning the subject matter of this release and any prior understandings or representations that are contrary to, or in addition to, the agreements contained in this AGREEMENT and are of no effect and have been merged into the written provisions of this AGREEMENT. 6. Amendment and Modification. For purposes of interpretation of this AGREEMENT, neither party shall be deemed the author of this document and it shall not be construed in favor of or against any party. The parties may not amend, revise or modify in whole or in part,the terms set forth herein, except pursuant to a separate writing agreed upon and signed by both parties. 7. Jurisdiction and Venue. This AGREEMENT and all questions relating to its validity, interpretation,performance, and enforcement shall be governed by and construed in accordance with the laws of the State of California. Both parties further agree that San Bernardino County, California, shall be the venue • Settlement Agreement and Mutual General Release Page 3 for any action or proceeding that maybe brought or arise out of, in connection with or by reason of this AGREEMENT. 8. Severability. The provisions of this AGREEMENT are severable, and if any part of it is found to be unenforceable, the other paragraphs shall remain in full force and effect. This AGREEMENT shall survive the termination of any arrangements contained herein. 9. Attorney's Fees. Should any dispute develop between the parties hereto concerning the terms of this AGREEMENT,the prevailing party in any proceeding which may result therefrom shall be entitled to recover from the other its reasonable attorneys' fees incurred in such proceeding. 10. Authority. Each undersigned represents and warrants that its signature hereinbelow has the power, authority and right to bind their respective parties to each of the terms of this AGREEMENT, and shall indemnify AGENCY, DISTRICT, and CITY fully, including reasonable costs and attorney's fees, for any injuries or damages to AGENCY,DISTRICT, and CITY in the event that such authority or power is not, in fact,held by the signatory or is withdrawn. Executed this 19th day of January , 2012, at Ct:trD,c) , California. WE, THE UNDERSIGNED, HEREBY CERTIFY THAT WE HAVE READ THIS ENTIRE AGREEMENT AND HAVE HAD THE TERMS USED THEREIN AND THE CONSEQUENCES THEREOF EXPLAINED BY OUR RESPECTIVE ATTORNEYS. WE FULLY UNDERSTAND THE TERMS AND CONSEQUENCES OF THIS SETTLEMENT AGREEMENT AND GENERAL RELEASE. COMMUNITY REDEVELOPMENT AGENCY COLTON JOINT UNIFIED SCHOOL OF THE CITY OF GRAND TERRACE DISTRICT Date: / — 25 ^ IZ Date: / y//t j7/ By: By: /�e/. t.„-- APPROVED AS TO FORM: APPROVED AS TO FORM: Dated: I 2 20( z Dated: B ' By: Agency Counsel