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<br /> <br />SETTLEMENT AND MUTUAL GENERAL RELEASE <br />BETWEEN THE CITY OF SUNNY ISLESBEACH <br />AND AWNINGS OF HOLLYWOOD <br />CONTRACT NO. CtOll-074 <br /> <br />This Settlement Agreement and Mutual Gcneral Rclcase ("Agreemcnt and <br />Release") is entered by and between the City of Sunny Isles Beach, located at 18070 <br />Collins Avenue, Sunny Isles Beach, Florida, 33160 (the "City") and Awnings of <br />Hollywood, Inc. d/b/a American Made Awnings, located at 5828 Washington Street, <br />Hollywood, FL 33023 (the "Contractor). Collectively, the City and Contractor are <br />referred to as Parties. <br /> <br />1. The Parties mutually agrce that thc original contract price to the City for <br />the fabrication and installation of one (I) new walkway awning at Pelican Community <br />Park in the amount of $23,740.00 (twenty three thousand seven hundred forty dollars) <br />shall be reduced to a final. revised contract price of $17,645.17 (seventeen thousand six <br />hundred forty five dollars and seventeen ccnts) inclusive of all costs and fees. as more <br />particularly set fort in attached Exhibit "^" attached hereto and made a part hereof. <br /> <br />2. The termination of the contract between the City and Contractor for the <br />fabrication and installation of the walkway awning at Pelican Community Park (City <br />Contract No. C091 0-051) is conditioned upon the exchange of mutual general releases <br />which are contained herein and the closing of all permits associated with this contract. <br />The termination of the contract shall become effecti ve after the execution of this <br />Agreement and Release and all of the permits have been closed. <br /> <br />3. Now therefore, in consideration of the mutual covenants and <br />agreements contained herein and other good and valuable consideration, the receipt <br />and sufficiency of which are hereby acknowledged and conclusively established. the <br />City and its affiliates, subsidiaries. related entities, of1icers. directors. members, managers. <br />successors, and assigns (the "Releasing Party") does hereby remise, release. acquit. satisfy <br />and forever discharge Contractor and its subsidiaries. related entities. officers, <br />dircctors, shareholders, successors. assigns. agents. (the "Released Party") of and from <br />any and all manner of all claims, suits, debts. sums of money. accounts, contracts, <br />controversies, agreements, promises. damages, demands and causes of actions arising or <br />claimed as arising between the Releasing Party and Released Party with respect to the <br />fabrication and installation of the walkway awning at Pelican Community Park in the <br />City of Sunny Isles Beach, Florida (the "Project"), from the beginning of time to the day <br />of these presents. <br /> <br />4. Now therefore, in consideration of the mutual covenants and <br />agreements contained herein and other good and valuable consideration, the receipt <br />and sufficiency of which are hereby acknowledged and conclusively established. <br />Contractor and its heirs, successors and assigns. and on behalf of its past, present and <br />future related or affiliated companies. incorporators. shareholders. directors. managers. <br />officers, employees. agents. insurer. and attorneys (thc "Relcasing Party") does hereby <br /> <br />eIOII.O?.! SITII.EMENT AND MIITUAI. (il:NI'[{AI. [{I:I.EASI: <br /> <br />Page I of 3 <br /> <br />\!'~, <br />I'" ...' ;" <br />".' ;/ .~. ,J <br />