Loading...
HomeMy WebLinkAboutVFW SETTLEMENT 07/03/2025 SETTLEMENT AGREEMENT AND RELEASE THIS SETTLEMENT AGREEMENT AND RELEASE is made and entered into by and between City of Batesville, Arkansas("City") and Harry B. Stokes Post No. 4501, Veterans of Foreign Wars("VFW"). WITNESSETH: WHEREAS, on or about May 31, 2024 the City, Arkansas initiated condemnation proceeding located at 1680 Chaney Drive, Batesville ("property")owned by the VFW. WHEREAS, that the City paid the VFW $610,000 in the Summer of 2024 for ownership of said property. WHEREAS, the VFW contested that this payment was not a fair and just compensation ("Dispute"), and the condemnation proceeding in Independence County Circuit Court Case No. 32CV-24-171 is still pending as to total fair and just compensation due. WHEREAS, City and VFW desire to settle fully and finally all differences between them arising from the Dispute. NOW, THEREFORE, in consideration of the premises and mutual promises herein contained,IT IS AGREED as follows: FIRST: City agrees that they pay to VFW an additional $268,750 (the "Settlement Amount"), due to be paid to VFW upon both parties executing this agreement. This additional compensation means that the City will have paid the sum total of$878,750 for the VFW property located at 1680 Chaney Drive. Page 1 of 3 SECOND: In exchange for said payment by City, VFW agrees to dismiss its claim Independence County Circuit Court Case No. 32CV-24-171 and not pursue any other legal causes of action based on the City's condemnation of said property. THIRD: The Parties hereby mutually release, acquit and forever discharge one another from all claims, costs and expenses (including but not limited to attorney's fees), damages, actions, and causes of action, whether in law or in equity, and whether known or unknown, suspected or unsuspected, related to or arising out of the subject matter of the Dispute. FOURTH: This Settlement Agreement and Release shall not in any way be construed as an admission by Parties of any acts of wrongdoing whatsoever with respect to the Dispute and neither the existence of this Agreement nor the terms herein contained shall be used as an admission or evidence of wrongdoing by any party. FIFTH: Parties acknowledge that they have been represented in negotiations for and preparation of this Settlement Agreement and Release by counsel of their own choosing, and each of them or their authorized representative has read this Settlement Agreement and Release and has had its contents fully explained to them by counsel of their own choosing and is fully aware of its contents and its legal effect. SIXTH: This Settlement Agreement and Release sets forth the full and final agreement between the parties hereto and neither party is relying on any statement, representation or promise made by any party that is not specifically included herein. This Agreement may only be modified by a writing executed by both parties hereto. SEVENTH: This Settlement Agreement and Release may be executed in any number of counterparts by original or electronic signature, and each such counterpart Page 2 of 3 shall be considered an original,but all of which together shall constitute one and the same agreement and shall be fully effective against all persons executing it. THIS SETTLEMENT AGREEMENT AND RELEASE INCLUDES A RELEASE OF CLAIMS. Executed this of t k 2025. ANIEL R. HANEY ATFORNEY for Harry B. Stokes Post No. 4501 Veterans of Foreign Wars of the United States, Inc. 467k o a BARBARA HENSON Authorized Agent for the Harry B. Stokes Post No. 4501 Veterans of Foreign Wars of the United States, Inc. RICK EL Mayor of the City of Batesville, Arkansas jAmey HY EITZ'for the C atesville,Arkansas Page 3 of 3