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LUU4I: y:Ulnivi & y TEL:948-4919 V0 " r, 'P, 004 WHEREAS on or about July 19, 2001,pursuant to an order o f the San Joaquin County Superior Court,the District obtained an order of possession for the Subject Property. That order was served on tho on all owners as of August 30, 2001. WHEREAS the Parties to this Agreement desire to compromise and settle the issues relating to acquisition and just compensation for the Subject Property contained in Exhibit"A,"as well as my damages to the remainder of Landowners' property, and whereas the Parties acknowledge that this Agreement is being entered into for the sole purpose of avoiding the vexation,uncertainties, and expense of litigation,including uncertainties regarding tho right to take the Subject Property and the issue of just compensation for the taking thereof; WHEREAS the Parties believe that this Agreonment provides :t resolution consistent with the need for District to maintain and augment its existing land disposal facilities,while allowing Landowners to enjoy more advanced use of currently andevoloped property, adjacent to the District,constituting the remainder parcel in the Lawsuits. Agreement NOW THEREFORE, and in consideration of the promises and mutual covenants and Agreements contained heroin,the Parties hereby agree as follow;;: 1. Upon execution of this Agreement by all Parties,Latuiowners, on behalf of themselves and all of their suceeesors and assigns,in whatever manner, agree to leme the Subject Property to the District for the purposes of land disposal f teilities for so long as the District shall continue to require the use of the Subject property for those purposes. The lease payment shall be S 1.00 per year,payable on June 1, 2004, and annually on each successive Juut 1,or within 60 days of it written demand by Landow ners or their successors,whichever is later. Failure to make such payment will not be grounds for termination of the Lease. 2. The term of the lease shall be far so long as the District continues to require the Subject Property for use as a land disposal facility. 3. At any time the District ceases to require the proporty for land disposal facilities,the District shall notify Landowners or their successors thereof in writing,and shall,within one year of such notice,return the Subject Property to bare lend,the condition it was in at the time of the initial possession by the District. All such costs of returning the property to its prior condition shall be bome by the District. 4. During the term of occupancy of Subject Property by.lie District,the District shall be responsible for reimbursoment to Landowners of all property taxos assessed against the Subject Property. During the term of the Losse, District shall maintain property and casualty insurance of reasonable value naming Landowners, and each of them, as additional insureds and shall indemnify and hold harmless Landowners, 2 3aess�.0