Settlement of Litigation Agreement 2020

SETTLEMENT OF LITIGATION AGREEMENT This Settlement of Litigation Agreement (the “Agreement”) is entered into this___ day of » 2020, by and between WEST ESSEX HIGHLANDS, INC., a corporation of the State of New Jersey having a businéss address of 820 Morris Turnpike, Short Hills, New Jersey 07078 (“WEHI”), the TOWNSHIP OF WEST ORANGE, County of Essex, State of New Jersey, a municipal corporation of the State of New Jersey with a business address of 66 Main Street, West Orange, New Jersey 07052 (the “Township”), and WEST ESSEX HIGHLANDS CONDOMINIUM ASSOCIATION, INC., having an address of 1 Reger Lane, West Orange, New Jersey 07052 (the “Association”), Collectively, WEHI, the Township and the Association shall be referred to as the “Parties,” WITNESSETH: WHEREAS, this Agreement concerns the development of real property consisting of approximately 120.5 acres generally located in the northwest corer of the Township adjacent to the northern terminus of Warner Road, which property is specifically identified as Block 179, Lot 32 on the Township's Official Tax Map (the “Subject Property”); and ‘WHEREAS, the Subject Property is generally bordered by the Township of Essex Fells (“Essex Fells”) to the west, the Township of Verona (“Verona”) to the north, and the West Essex Highlands Condominium development in West Orange (the “Condominivm”) to the south; WHEREAS, the Association is duly constituted condominium association for the Condominium; WHEREAS, WEHI is the owner of the Subject Property; and WHEREAS, the Township instituted certain litigation now pending in the Superior Court of New Jersey, Law Division, Essex County captioned In the Matter of the Application of the