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B. COLTON and GRAND TERRACE now desire to <br />discharge all claims, demands, liabilities, and causes of <br />action against each other, as of the effective date of this <br />Agreement and Release, including, but not limited to, any <br />and all claims, demands, liabilities and causes of action in <br />any manner based upon or arising out of the subject matter <br />of the action described above. <br />C. This Agreement and Release is a compromise of <br />the claims and liabilities alleged by the parties in Case <br />No. 229708 and shall never be treated as an admission of <br />liability by any of the parties for any purpose. <br />D. The Agreeing Parties wish to reduce to writing <br />the full terms of their Agreement and Release. <br />AGREEKENT AND RELEASE <br />NO,W, THEREFORE, in consideration of the following <br />respective conditions and covenants, the parties to this <br />Agreement and Release agree and release each other as <br />follows: <br />1. Immediately upon their attorneys' receipt of a <br />fully signed original or counterpart original(s) of this <br />Agreement and Release, GRAND TERRACE shall deliver to COLTON <br />a check in the sum of One Hundred Twenty -Seven Thousand Four <br />1 ($127,480.00) payable to the CITY <br />Hundred Eighty Dollars <br />OF COLTON, which check shall be immediately negotiable. <br />This sum is allocated as follows: <br />-2- <br />