This settlement agreement (the agreement) is entered into by and between Michael and the Plantiffs C.W., Mary, John, Lynne, Ted, Ben, Phil(collectively to hereafter as "Plaintiffs")
Whereas, on November 30, 2010, the plaintiffs obtained a judgement in the amount of $54,610.00, in the county Indiana superior court number 2 ("the court"), identified as case No. 2 (the judgement) for attorney fee's in enforcing certain restrictive covenant violations related to real estate commonly known as Lane, IN. (the real estate)
Whereas, plaintiffs have incurred at least $27,346.50 in legal fees and $285.96 in court cost since November 30, 2010 in attempting to collect the judgement.
Whereas, plaintiffs claim that they are entitled to recover said amounts from based on the language of certain restrictive covenants associated with the judgement.
Whereas, claims that plaintiffs' claimed attorney's fee after November 30, 2010 are not reasonable.
Whereas, and plaintiffs have determined that it is in their best interest to compromiseand settle any and all disputes between them with respect to the above written cause number as set forth below.
Now therefore, in exchange for the consideration set forth below, the parties agree as follows:
1. Payment to Plaintiffs agrees to pay seventy six thousand and 00/100 dollars (76,000.00) (the settlement amount) the settlement amount shall be paid on or before (60) days after this agreement is signed by all parties.
2. Specific real estate improvements. within sixty (60) days after this agreement is signed by all parties, agrees to improve the real estate in the following three (3) ways:
a. grass seeding professional tilling under the existing yard and professional reseeding
b. Construction of permanent porch: a cement porch in harmony with the other homes in estates with the following dimensions and features.
i. Rise Eight (8) inch step into home entrance. further steps if needed from pathway described below in 2(c).
ii. Width: equal to the existing front door overhead roof covering.
iii. Length: equal to the existing front door overhead roof covering.
iv. height: six (6) inch deck top
v. footer: cement footer to bottom of porch deck.
c. construction of pathway: a cement walkway to the permanent porch described in 2(b) from either the sidewalk or the street curb or from both. the walkway shall be in harmony with the other homes in estates and have the following dimensions and features:
i. height/thickness: four(4) inches.
ii. Width: no smaller than thirty-six (36) inches, and no wider than the permanent porch deck width, as described in 2(b)(ii)
3. satisfaction of judgement and release. within fourteen (14) days after compliance with paragraphs 1 and 2 of this agreement, plaintiffs shall execute and file a satisfaction of judgement and release with the court with regard to any and all claims they have or may assert against in the above written case number. If fails to comply with paragraphs 1 and 2 of this agreement, he shall be responsible for attorney fees related to enforcement of this agreement.
4. non-admission. nothing contained in this agreement, or any action by the parties in resolving this matter, shall be considered or construed as an admission that either party committed any wrongdoing, violated any law or regulation, or was entitled to any relief in litigation
. the parties entered into this agreement solely to avoid the further time, expense, and uncertainty of litigation.
5. no further consideration. this agreement represents the entire agreement between the parties and there are no other written or oral agreements. the consideration for this agreement is the covenants, promises, consideration and contingent release contained in this agreement. there is no further consideration.
6. governing law. this agreement shall be governed by, and construed in accordance with, the laws of the state of indiana.
7. miscellaneous. the parties have read and understand all the terms of this agreement, and they are knowingly and voluntarily entering into this agreement based on the advice of their own counsel. this agreement is a negotiated document and there is no contractual presumption based upon one party being deemed the drafter of the agreement. this agreement supersedes and replaces any document previously agrees to by mr. and the plaintiffs. any waiver of any provisions shall constitute a waiver of any other provision (whether or not similar) or a continuing waiver.
. except to enforce this agreement in a court of law following a default, the terms of this agreement shall be kept confidential by the plaintiffs and mr. the plaintiffs are permitted to disclose that they have entered into this agreement, but they are not permitted to disclose the terms of this agreement except in a court of law
9. it is acknowledged that the parties may execute this