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,t ,.t <br />0 <br />SETTLEMENT AGREEMENT AND RELEASE <br />This Agreement is made and entered into this day of , 2006 between the <br />SOUTH BEND REDEVELOPMENT AUTHORITY ( "SBRA ") and MARATHON PIPE LINE <br />LLC, a Delaware limited liability company ( "MPL "): <br />RECITALS <br />WHEREAS, MPL owns (i) that Right of Way Agreement granted 5/15/1957 and <br />recorded 5/27/1957 in the St. Joseph County Recorders Office at Book 567, pages 113 -114, as <br />amended by the Partial Release of Right of Way Agreement executed on 7/16/93 and recorded <br />7/22/93 at the St. Joseph County Recorder's Office as Record Number 9328170 (collectively, <br />"Easement No. F); (ii) that Right of Way Agreement granted 6/8/1957 and recorded in the St. <br />Joseph County Recorders Office at Book 568, page 21, as amended by the Partial Release of <br />Right of Way Agreement executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County <br />Recorder's Office as Record Number 9328168 (collectively, "Easement No. 2 "); and (iii) that <br />Right of Way Agreement granted 5/13/1957 and recorded in the St. Joseph County Recorders <br />Office at Book 568, page 19, as amended by the Partial Release of Right of Way Agreement <br />executed on 7/16/93 and recorded 7/22/93 at the St. Joseph County Recorder's Office as Record <br />Number 9328169 (collectively, "Easement No. 3 "; and collectively with Easement No. 1 and <br />Easement No. 2, the "Pipeline Easements "); and <br />WHEREAS, the SBRA owns several parcels of property encumbered by the Pipeline <br />Easements, which property is more particularly defined and described at Exhibit A (the "Site ") <br />and is depicted at Exhibit B; and <br />WHEREAS, the SBRA desires to provide for the development of Lot 3A and a portion of <br />Lot 7 (as such terms are defined in Exhibit A and depicted at Exhibit B) as depicted at Exhibit C <br />identified infra as a hotel it believes complimentary to the uses of the surrounding golf course <br />and office park (collectively, the "Hotel Site "); and <br />WHEREAS, the SBRA contends it is obligated to convey the Hotel Site to the South <br />Bend Redevelopment Commission (the "Commission ") pursuant the terms of a certain <br />agreement previously executed between the SBRA and the Commission, and in anticipation <br />thereof, the Commission has entered into a certain Contract for Sale of Land for Private <br />Development, by and among the Commission, JF +A Properties, Ltd. /CII &P and County <br />Mayo /SB, LLC (collectively, the "Developer "); and <br />WHEREAS, the SBRA and the Developer anticipate conducting improvements on the <br />Hotel Site, including portions of the Hotel Site subject to the Pipeline Easements, pursuant to the <br />plans and specifications set forth at Exhibit C (the "Proposed Developer Improvements "); and <br />WHEREAS, an asphalt drive that runs through the Easement No. 1 has been constructed <br />on Lot 1 B and Lot I C subsequent to the execution of Easement No. 1 (the "Asphalt Drive "), <br />which MPL contends was constructed without MPL's consent and infringes upon its rights set <br />forth in said Easement No. 1; and <br />WHEREAS, the SBRA desires for the Asphalt Drive to exist under the conditions and for <br />Page 1 of 6 <br />