AG 2018 03 19 - Laserfiche WebLink

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11. In anticipation of condemnation. WSACC commissioned an appraisal report that opined just compensation for the Property was Twenty Eight Thousand Dollars and 00/100 ($28,000.00). 12. The parties to this Agreement, desiring to avoid the cost and expense of further litigation, and without admitting any liability or wrongdoing of any kind, have now reached a compromise and settlement of their disputes and desire to memorialize the terms of their compromise and settlement in this writing as set forth below. STATEMENT OF AGREEMENT NOW, THEREFORE, in consideration of the promises and covenants contained herein, the parties agree as follows: 1. Recitals: The recitals set forth above are incorporated herein as if fully set out. 2. Purchase and Sale of the Property: In lieu of condemnation. WSACC agrees to purchase from the Heirs, and the Heirs agree to sell to WSACC fee simple title to the property within the Existing Leased Area, and a non-exclusive, permanent easement over and across the Proposed Buffer Area. The LandTrst consents to the Heirs selling to WSACC fee simple title to the property within the Existing Leased Area, and a non-exclusive, permanent easement over and across the Proposed Buffer Area. As of the Closing Date (as defined below), the Conservation Easement shall be extinguished with respect to the Existing Leased Area, but shall remain in place with respect to the Proposed Buffer Area. 3. Payment of Compensation and Partial Termination of Conservation Easement: WSACC agrees to pay to the Heirs and the Heirs agree to accept, the total sum of TWENTY EIGHT THOUSAND DOLLARS AND 00/100 ($28,000.00) as full and final payment for the Existing Leased Area and the Proposed Buffer Area (the "Compensation"). Said Compensation shall be paid in good funds upon execution, receipt and recording of (i) a General Warranty Deed 9 738 v.1 3 F-3 Page 293