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(C � ►\� <br />Community & Economic Development n5,n <br />1200 County -City Building, 227 West Jefferson, South Bend, Indiana 46601 -1830 Phone 574/235 -9371 Fax 574/235- <br />9021 <br />To: Redevelopment missiork <br />From: Ann Kolata <br />Subject: Approval of Confidential Settlement Agreement and Release <br />Date: October 28, 2010 <br />Our environmental attorneys have negotiated a Confidential Settlement Agreement and Release with <br />Affiliated FM Insurance Company related to environmental claims made by the Commission <br />concerning the former Oliver Plow property. The insurance company provided coverage to the <br />former owners but their coverage picked up on claims above the amount of our judgment. Because <br />of this, Affiliated FM is willing to pay the Commission and the City of South Bend a small amount <br />that has been approved by our Legal Department to settle this claim. There is still one remaining <br />claim against another insurer. This agreement only covers Affiliated FM Insurance Company. I'm <br />asking that you approve this Settlement. <br />Please contact me at 235 -9374 or akolata(a,southbendin.gov if you have any questions. <br />Commission memo - Affiliated FM Insurance october 28 2010.doc What We Do Today Makes A <br />Difference! <br />