Laserfiche WebLink
0411?!ZQO~ 14:22 <br />#396E ?.004 /006 <br />agreement that are uttlcnowm to the parties at tl-e time of the execution of this agreement or that may <br />arise in the future. However, the parties have negotiated this agreement in full itrtowledge of the <br />possibility of additional claims or injuries, intend this agreement to settle and finally dispose of all <br />such claims or in}yes arising out of the above-described transaction. <br />i~. <br />TER~'IS OF AG~EMEN'T <br />In consideration of the mutual promises and agreements contained in this agreement, <br />including the recitals set forth above, the parties agree as follows: <br />1. .The City of Clarksville, Texas will pay to the City of Paris, Texas a total of <br />$40,000.00 payal?le as follows: $1 O,OOp.00 will be paid on or before May 1 S, 2008. Thereafter, the <br />City of Clarksville, Texas X11 pay the City of Paris, Texas three additional $ ] 0,000.00 payments <br />ott May 1 S, 2009, May 15, 2010, and May 15, 2011. No interest will be awing by the City of <br />Clarksville, Texas .provided these payments are made on ar before the dates described herein. <br />However, should ~~1ie Ci ty of Clarksville, Texas be delinquent or late in making any of the payments, <br />that interest will. accrue on such late payments at floe rate of five percent (5%) per annum. The <br />lawsuit described in this a~eement will be mutually dismissed, with prejudice, with each party to <br />bear its own, costs. <br />Yl<I. <br />This agreement is a compromise of doubtful and disputed claims, nothing is this agreement <br />is an admission ai' liability of any party, and nothing in this agreement maybe interpreted as an <br />admission of liabr`.lity. Each, party to this agreement expressly denies liability to every other party <br />to this agreement. <br />['ompromise Sexlcmex!t A~[ectnent <br />City of Paris, Texas v. Cite of Clarksville, Texas 2 <br />ry (l (;::11 <br />