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HomeMy WebLinkAboutAddendum to Settlement and Release Agreement A-15-591 with RSCO Inc..pdf Agreement No. 15-591 ADDENDUM TO SETTLEMENT AND RELEASE AGREEMENT This Addendum to the Settlement and Release Agreement("Settlement") is entered into between the County of Fresno (the "County") and RSCO dba RISING SUN COMPANY ("RSCO"), and as between said parties, is deemed to modify certain of the terms of payment set forth in the Settlement due to circumstances unforeseen at the time the parties to the Settlement agreed on its terms. RECITALS A. Under the terms of the Settlement,the County is to pay RSCO the sum of$150,000 within 20 business days from receipt by the County the settlement proceeds due the County as identified in paragraphs la through lc, inclusive,of the Settlement. B. Since the parties agreed on the terms and conditions of the Settlement,,RSCO and the County have learned that there is currently a lien that has been filed against any settlement proceeds due to RSCO by Darryl Paul,RSCO's former counsel (the"Paul Lien"), C. The Paul Lien has yet to be resolved and RSCO claims it is invalid. D. The County and RSCO intend to perform the terms of the Settlement and Release Agreement but recognize the need to resolve the lien before payment is made to RSCO. As such,the County and RSCO hereby agree to the following addendum to the Settlement and Release Agreement: . AGREEMENT I RSCO shall institute a declaratory relief and/or interpleader action, whichever it feels is more expeditious,to determine the validity of the Paul Lien. 2. The County agrees to cooperate with RSCO in connection with said action and if necessary to act as Plaintiff in said action;provided that such party alignment does not increase the County's attorneys' fees and expenses. 3. The provisions of Paragraph I(d)of the Settlement are modified to provide that the County shall pay to RSCO the settlement proceeds due RSCO under the terms of the Settlement($150,000) within 20 business days of receipt by the County of the settlement proceeds due the County under the Settlement or within 10 business days from receipt of consent to release the funds from Mr. Paul or final order of the court in the declaratory relieffinterpleader action,whichever is longer. 4. This addendum is made only between the County and RSCO as it only implicates the settlement proceeds owing to RSCO. All other terms and conditions in the Settlement and Release Agreement remain in full force and effect. 29253-00184 3664337.1 Approved as to content: i I Dated: 1 /6 , 2015 p RSC&ba Rising Sun Company I Dated: I/- l 7 ,2015 i County of Fresno J ATTEST: BERNICE E.SEIDEL,Clerk Board of Supervisors By Deputy I Approved as to form: McCormick,Barstow, Sheppard,Wayte Carruth LLP I Dated: >> /7 ,2015 Marshall C.Whitney Attorneys for County df Fresno K&L Gates, i Dated: 2015 othy L, le ce Attorneys for RSCO dba Rising Sun Company,Lauren Sario, William.Sario i I 1 29253-00M 3664337.1 4 i f 4