Ord 2001-063 - Laserfiche WebLink

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WHEREAS, the City and EI Paso Parties (collectively, the "Settling Parties") wish to fully and fmally settle any and threatened litigation and all claims and damages asserted or that could be asserted by the City (collectively, the "Claims") against the EI Paso Parties related to the presence of the natural gas transmission pipelines owned by the EI Paso Parties, in existence as of the date of this agreement, in right-of-way owned or controlled by the City, or the failure by the EI Paso Parties to pay street rental, franchise or other fees to the City as compensation to the City for use of City right-of-way during the period of time leading up to and including the date of this agreement, as herein provided; and WHEREAS, without admission ofliability by or to any party, the City and the EI Paso Parties desire to avoid the vexation and uncertainties of litigation over the Claims, and fully and fmally resolve the Claims and buy peace; NOW, THEREFORE, FORAND IN CONSIDERATION of the mutual promises and agreements herein contained, including the foregoing recitals which form an integral part of this Release and Settlement Agreement, and in consideration of the Agreed Settlement Sum and the Ordinance Granting a Permit And Consent enacted by the City Council of San Marcos and other good and valuable consideration, and in order to buy their respective peace, the receipt and independent adequacy of all elements of such consideration being acknowledged by the parties hereto, the parties hereby contract, covenant and agree as follows: 1. DEFINITIONS. The following terms are defmed as follows when used within this Agreement: -3-