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01-6-57-70-225 26,311.00
<br />In-Home Services Grant
<br />01-9-57-60-331 16,794.00
<br />Minor Office Equipment
<br />
<br />29?
<br />
<br /> 2,759.00 29,070.00
<br /> 2,759.00 19,553.00
<br />
<br />01-6-57-7~-620 1,800.00 1,700.00 3,500.00
<br /> In-Hom~ Services Prod. Inc.
<br />01-9-57-69-331 19,553.00 1,700.00 21,253.00
<br /> Minor Office Equipment
<br />
<br />Coddle Creek Reservoir - Approval of Settlement A~reement end Mutual Release
<br />Between Cabarrus County and Blythe Industries and Adoption of Budget Amendments
<br />
<br /> UPON MOTION of Commissioner Mills, seconded by Commissioner Carpenter and
<br />unanimously carried, the Board approved the following Settlement Agreement and
<br />Mutual Release between Blythe Construction, Inc. and Cabarrus County and adopted
<br />the following budget amendments.,
<br />
<br /> SETTLEMENT A~ REEMENT AND MUTUAL RELEASE
<br />
<br /> ' THIS AGREEMENT dated as of May 19, 1997, is made and entered
<br />into by and between BLYTHE CONSTRUCTION, INC. (formerly Blythe
<br />Industries, Inc.) ("Blythe") and CABARRUS COUNTY, NORTH CAROLINA
<br />(the "County").
<br /> Back~round and Purpose
<br /> A. Blythe is the plaintiff and counterdefendant, and the
<br />County is the defendant and counterplaintiff, in a civil action
<br />pending in the General Court of Justice, Superior Court Division,
<br />Cabarrus County, North Carolina, 96-CVS-01355 (the "Action").
<br /> 5. The Action arises out of and relates to two contracts (the
<br />"Contracts") between the County, as owner, and Blythe, as general
<br />contractor, for the construction of the Coddle Creek Dam and
<br />Reservoir in Cabarrus County (collectively, the "Project"), one
<br />dated December 27, 1990, for constructing the embankment, dam and
<br />related improvements, and the other dated November 20, 1992, for
<br />timbering, o,learing, grubbing and earthwork.
<br /> C. The' Action arises out of a dispute concerning the amount
<br />due Blythe as final payment under each of the Contracts.
<br /> D. Blythe and the County have now agreed on a lump sum amount
<br />payable as a compromise settlement of the Action and as final
<br />payment on account of both Contracts.
<br />
<br /> Agreement and Releases
<br /> In consideration of the premises and the mutual covenants and
<br />releases set forth herein and for other good and valuable
<br />consideration, the receipt and sufficiency of which are hereby
<br />acknowledged, the parties hereto, for themselves and their
<br />successors and assigns, agree as follows:
<br />
<br /> 1. O~l or be~l~e May 26, 1997, the County shall pay glythe the
<br />sum of one million, two hundred fifty thousand and 00/100 dollars
<br />($1,250,000.00), which sum shall constitute final payment for all of
<br />the work performed by or through Blythe under or with respect to the
<br />Contracts, including all of the original, changed and extra work on
<br />the Project.
<br /> 2. For and in consideration of the payment to be made pursuant
<br />to paragraph 1, Blythe releases and fully discharges the County and
<br />its co~nlss[oners, officers, employees and agents, and their heirs,
<br />successors and assigns, from any and all claims, demands, liens,
<br />actions, liabilities, obligations, and causes of action, arising out
<br />of or relating to the Project or the Contracts, whether known or
<br />unknown, contingent or not contingent, liquidated or unliquidated,
<br />except claims for the enforcement of glythe's rights hereunder.
<br /> 3. Effective upon complete execution of this Agreement, the
<br />County releases and fully discharges 51ythe and its shareholders,
<br />directors, officers, sureties and agents, and their heirs,
<br />successors and assigns, from any and all claims, demands, liens,
<br />actions, liabilities, obligations and causes of action, arising out
<br />of or relating to the Project or the Contracts, whether known 6r
<br />unknown, contingent or not contingent, liquidated or unlfquidated,
<br />except claims for the enforcement of the County's rights hereunder.
<br />
<br />
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