203-22 Mutual General Release Covenant Not to Sue and Dismissal of Litigaiton - (combined).pdf

vacate its Resolution No. 99-19 and all other actions taken based thereon including, but not limited to, the designation of the Property as an area in need of redevelopment under the LRHL and the execution of any redevelopment agreements or adoption of redevelopment plans, the parties agree to advise the New Jersey Supreme Court of said actions and agree to abide by the Supreme Court’s decision regarding the disposition of the Supreme Court Docket No. 086087. If, and when, the Supreme Court dismisses Supreme Court Docket No. 086087, the Mutual Releases set forth in Paragraph 2, above, shall include all claims related to New Jersey Supreme Court Docket No. 086087 and the actions related thereto. Nothing herein shall be deemed as an admission, agreement, or acknowledgement that the actions under review in New Jersey Supreme Court Docket No. 086087 were valid, invalid or otherwise precedential notwithstanding any decision of any Court. Nothing contained herein shall preclude the Township from adopting any financial agreement under the Long-Term Tax Exemption Law pursuant to N.J.S.A. 40A:20-1 et seq. or any other applicable statute or regulation. 4. No Admission of Liability – The Parties recognize that this Agreement is a compromise of disputed claims. Nothing in this Agreement will be considered evidence of or an admission with respect to liability or the truth of any of the allegations made in connection with the Parties’ dispute, whether the allegations are of fact or law. 5. Complete Agreement – This Agreement constitutes a single, integrated written contract, expresses the entire agreement of the Parties with respect to the matters contained herein, and supersedes all negotiations, prior discussions and preliminary agreements, whether oral or written. Any modifications to this Agreement will be effective only if in writing and signed by the Party to be charged or otherwise adversely affected by it. 4