HomeMy WebLinkAboutSETTLEMENT AGREEMENT AND RELEASE BETWEEN AUGUSTA, GEORGIA AND HUTCH HOLDING, INC. AND MORETZ & ASSOCIATES REALTY, LLC SETTLEMENT AGREEMENT AND RELEASE
This document sets forth the terms and conditions of the Agreement and General Release
(hereinafter "Agreement") by and between Hutch Holdings Inc. and Moretz & Associates
Reality, LLC (hereinafter "the Releasors") and Augusta, Georgia, (referred herein as "Augusta,
Georgia" or "Releasee"). The term "Releasee" as used herein shall be defined as Augusta,
Georgia, and all current and former commissioners, employees, servants, agents, officials,
insurers, and attorneys, in their official and individual capacities, together with their
predecessors, successors and assigns, both jointly and severally. In consideration of the mutual
covenants and agreements set forth below, the parties agree as follows:
RECITALS
On or about May 3, 2017 the Augusta Utilities Department provided its Notice of Intent to
Terminate its Commercial Lease Agreement for 360 Bay Street, Augusta, GA 30901 (the
"Premises") to Moretz &Associates Reality for Hutch Holdings Inc.
Subsequently, there were various issues that arose that prolonged the Augusta Utilities
Department from vacating the premises until September/October 2017.
Moretz & Associates Reality for Hutch Holdings Inc. provided notice and demand for
additional monies to be paid by the Augusta Utilities Department for additional rent payments
and other incidentals, related to the Premises (the "Dispute").
Augusta, Georgia, denies and continues to deny any liability to Releasors for claims arising out
of or related to this dispute, and desire to purchase their peace and to avoid the problem and
expense of litigation.
Releasors enter into this Release in order to provide for certain payments in full, final and
complete settlement, satisfaction and discharge of any and all past, present or future claims
which are or which might have been the subject of the Dispute upon the terms and conditions set
forth herein. Releasors desire to remise, release, acquit and forever discharge Augusta, Georgia,
their respective past, present and future employees, partners, officers, directors, shareholders,
principals, parents, direct or indirect subsidiaries and subsidiaries thereof, affiliates, divisions,
agents, representatives, predecessors, successors, insurers, attorneys and assigns (collectively
"Releasees.)"
NOW THEREFORE, Releasors agree as follows:
1. RELEASE BY RELEASORS. In consideration of the payment of Fifteen Thousand Dollars
and Zero Cents ($15, 000.00) (the "Payment"), Releasors have agreed to settle all claims against
Augusta, Georgia related to the "Dispute". Releasors do hereby fully, finally, and completely
remise, release, acquit and forever discharge the Releasees of and from any and all past, present
or future claims, demands, obligations, lawsuits, actions, causes of action, wrongful death
claims, rights, damages, costs, expenses and compensation of any kind or nature whatsoever,
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known or unknown, foreseen or unforeseen, direct or indirect, fixed or contingent, whether based
on a tort, contract or other theory of recovery, and regardless of the theory of damages, which
Releasors ever had, now have, or which may hereinafter accrue or otherwise be acquired on
account of, or in any way growing out of, related to, or arising from, in any manner or fashion,
the Dispute. This release on thepart of Releasors shall be a fullybindingand complete
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settlement between Releasors and Releasees.
In addition, it is specifically understood and agreed that the Payment is intended to compensate
the Releasors for property damage, injuries, pecuniary damages and other elements of general
damage and economic and non-economic damages that are uncertain in amount and that
Releasors specifically agree that in consideration of the Payment, Releasors release any and all
claims that they ever had, now have or may have for all items or damages, whether general or
specific or punitive or exemplary, based upon, resulting from, arising out of, relating to, or
connected directly or indirectly to the Dispute.
2. SETTLEMENT NOT AN ADMISSION OF LIABILITY. Releasors agree that this Release
is the compromise of doubtful and disputed claims and that the Payment made is not to be
construed as an admission of liability, negligence, willful and wanton conduct, or fault of any
kind whatsoever by Releasees, nor the validity of any claim to damages, but is to be construed as
a compromise and settlement of all issues for purposes of avoiding controversy, litigation and
expense. Releasors further agree that all claims or allegations of fault, liability, negligence, and
legal responsibility have been and are denied by Releasees.
3. INDEMNIFICATION BY RELEASORS. Releasors, in consideration of the promises set
forth herein, the receipt and sufficiency of which is hereby acknowledged, hereby agree to
defend, indemnify and hold harmless Releasees against any and all claims, demands, and causes
of action, including, but not limited to claims for contribution and indemnity, based upon
allegations of negligence, strict liability or any other allegation of fault by Releasees that are
asserted by any person or entity that the Releasors may make a claim against on account of,
based upon, relating to or arising out of the Dispute.
4. ATTORNEY'S FEES AND COURT COSTS. As between Releasors and Releasees, each
party shall bear its own attorneys fees and expenses and court costs incurred in connection with
the lawsuit, this Release, the matters and documents referred to herein, the entry of a final
judgment and all related matters.
5. RELEASORS' REPRESENTATIONS AND WARRANTIES. In return for the foregoing
consideration, the Releasors hereby warrant and represent that they are the sole owners of any
claims, rights, counts, causes of action, obligations and demands released by the Releasors
pursuant to this Release and which are in fact, released by the Releasors pursuant to this Release
and that no other persons or entities have any interest in any claims, rights, counts, causes of
action, obligations or demands which the Releasors release pursuant to this Release and further
covenant that they have not assigned any claims they may have against the Releasees to any
person or entity.
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6. EXECUTION. Releasors represent and warrant that the person executing this Agreement are
duly authorized to do so, that this Agreement constitutes a valid and binding obligation and that
it is authorized to act on behalf of all persons or entities described in this Release's definition of
Releasors concerning all matters addressed in this Agreement.
7. SUCCESSORS. This Release shall be binding upon and inure to the benefit of the Parties and
their respective successors and assigns.
8. ENTIRE AGREEMENT. Releasors hereby agree and represent that no promise or agreement
not herein expressed has been made to them, and that this Release contains the entire
understanding of the Releasors regarding the matters contained herein and that the terms of this
Release are contractual and not merely a recital.
[SIGNATURES ON FOLLOWING PAGE]
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IN AGREEMENT HERETO, the Releasors and the below representative of Augusta, Georgia
set their hand and seal.
Hutch Holdings, Inc.
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