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04!1?!200i 14:22 <br />agreernent that are unlcnow-n to the parties at the tirne of the execution of thi s agreement or that may <br />arise m the future. However, the parties have negatiated this agreernent in fuU knoWledge of the <br />possibilxty of additional clairns or injtzries, intend Es agreement to settle and finally dispose of a1I <br />such claims or injuries arising out of the abave-described transaction• <br />U. <br />TERlYIS OF ACREEMENT <br />In evn,sidezation of the u3utual promises and agreements contai.ned in this agreement, <br />includiA.g the recitals set forth above, the parties agree as foilows: <br />1. .'The City of Clarksville, Texas will pay to the CYty of Paris, Texas a total of <br />$44,000.00 payarle as follows: $10,000,00 will be paid on or before May 15, 2048. Thereaftez, the <br />City of Clarksville, Texas vzll pay the City of Pazis, Texas three additional$1 0,000.00 payments <br />an May 15, 2009, May 15, 2010, aDd May 15, 2011. No interest vvill be awing by the City af <br />C]arksville, Texas provided these payments are made on or before the dates deseribed hercin. <br />However, should -ihe City of Clarksvitle, Texas be delinquent or late in making aziy of the payments, <br />that interest wi,II. acerue on such late payments at the rate of five percent (5%) per annwnn. The <br />lawsuit described in this ageement will be mutually dismissed, with prejudice, with each party to <br />bear its ovm costs. <br />M. <br />This agreem.en.t is a comQromise of doubtful and disputed claims, notl3ing is this agzeemcnt <br />is a.n admission ar liabili{y of any party, and -nothing in this agreemen# may be interpxeted as an <br />admission of liabi.lity. Each pariy to this agrement expressly denies liability to every oth.er party <br />to this agreexnent. Compromisn Sc:tlcmee!t Agrecment 2 <br />Ciry of Par'ss. Texas v- Ci,t}~ of Clarkbvillc, Texas <br />