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4. COLTON now hereby releases and forever dis- <br />charges GRAND TERRACE and its predecessors, successors, <br />assigns, officers, councilmembers, and each past and present <br />employee, agent, representative, attorney, witness and any <br />other person, firm, or corporation now, previously or here- <br />after affiliated in any manner with any of the above, from <br />any and all claims, demands, causes of action, obligations, <br />damages and liabilities, whether or not known, suspected, or <br />claimed, which COLTON may have against or claim to have <br />against GRAND TERRACE, or any of them, by reason of any act, <br />failur.e to act, cause, matter or event whatsoever, including <br />but not limited to any related to the existence of the <br />subject matters encompassed within, and all claims which <br />were raised or could have been raised in Case No. 229708 or <br />by reason of the existence of that action. <br />5. COLTON acknowledges that it has been advised <br />by its attorneys concerning, and is familiar with, the <br />provisions of California Civil Code Section 1542, which <br />provides as follows: <br />"A general release does not extend to <br />claims which the creditor does not know <br />or suspect to exist in his favor at the <br />time of executing the release, which if <br />known by him must have materially <br />affected his settlement with the debtor." <br />COLTON in that connection, acknowledges that it may <br />have sustained damages, loss, cost or expense that is pre- <br />sently unknown or unsuspected, and that such damages, loss, <br />-4- <br />