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1 <br />2 <br />3 <br />4 <br />5 <br />b <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />an amended complaint (the "Amended Complaint") asserting an additional claim for breach <br />of contract and seeking specific performance of its purported right to purchase Colton Palms <br />pursuant to an option provision in the Disposition and Development Agreement dated July <br />18, 1989. On August 12, 2004, Colton Non -Profit filed an answer to the Amended Complaint <br />contesting all allegations made therein (the "Amended Answer'); and <br />WHEREAS, CSI resigned as the agent for the project on April 1, 2004; and <br />WHEREAS, on May 19, 2004, Colton Non -Profit filed a separate action against the <br />City and the Agency entitled Colton Non -Profit Senior Housing, Inc. v. City of Colton, et al., <br />Case No. SCV SS115619 (the "Colton Non -Profit Action"). The complaint in the Colton Non - <br />Profit Action (the "Cross -Complaint") sought declaratory relief regarding Colton Non -Profit's <br />ownership of, and right to operate, Colton Palms, as well as the ownership of the Turner <br />Settlement Funds and the Turner Settlement Earned Interest. On August 5, 2004, the City <br />and the Agency filed an answer to the Cross -Complaint generally denying all claims made <br />therein (the "Cross -Answer"); and <br />WHEREAS, it is now the intention of the Parties to settle and dispose of, fully, finally <br />and completely, any and all existing or potential claims, demands, obligations, damages, <br />liabilities, complaints, suits, actions, causes of action, and rights of appeal, both known and <br />unknown, as set forth below. <br />WHEREAS, the terms of the Settlement Agreement are outlined in the Settlement <br />Agreement and Release attached hereto as Exhibit "A;" and <br />WHEREAS, Section 33413.5 of the California Community Redevelopment Law <br />(Health and Safety Code, Section 33000 et seq.) requires the Agency to adopt by resolution <br />a replacement housing plan not less than 30 days prior to the execution of an agreement for <br />acquisition of real property, or the execution of an agreement for the disposition and <br />development of property, or the execution of an owner participation agreement, which <br />2 <br />