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foreclosure of the Real Property Collateral and certain <br /> improvements thereto made by the Debtor pre-petition, the <br /> Chapter 7 Case, and all matters directly or indirectly related <br /> thereto, upon the terms and conditions set forth below, for the <br /> purpose of avoiding the burden, expense and uncertainty of <br /> continuing litigation, and for the purpose of putting to rest the <br /> controversies engendered thereby. <br /> T. Nothing contained in this Agreement may be used or <br /> construed by any party hereto, or any other person, as an <br /> admission of liability or concession in any amount, kind or <br /> degree whatsoever by any party hereto. This Agreement shall not <br /> be offered or received as evidence in any action or proceeding in <br /> any court or other tribunal, as an admission or concession of <br /> liability on the part of any party hereto, or as any reflection <br /> on the merits of the claims of the parties hereto. <br /> NOW, THEREFORE, in consideration of the foregoing <br /> obligations and promises and their respective agreements set <br /> forth herein, the parties hereto hereby agree as follows: <br /> I. PAYMENT AND PERFORMANCE: <br /> 1. The obligations and agreements of the parties set <br /> forth in this Agreement are conditioned upon entry by the <br /> Bankruptcy Court of a final order approving this Agreement in the <br /> Chapter 7 Case. <br /> 2. The effective date of this Agreement shall be ten <br /> (10) days after the entry of the order of the Bankruptcy Court <br /> approving this Agreement, provided that no stay is imposed <br /> thereupon or timely appeal taken therefrom (the "Effective <br /> Date") . <br /> 3. The Recitals set forth hereinabove are integral to <br /> the agreement between the parties hereto and each Recital is a <br /> material provision of this Agreement. <br /> 4. On the Effective Date, without any further action <br /> by the Bankruptcy Court or any party hereto: <br /> a. Barclays will release $1, 000 to the Estate as <br /> an agreed surcharge for the preservation of Barclays' collateral <br /> and to reimburse the Estate for the time of the Trustee and his <br /> counsel in reviewing records related to certain fixtures located <br /> on the Real Property Collateral (on or about January 6, 1994, <br /> Barclays deposited the foregoing sum with the Trustee) ; <br /> b. Barclays and ITL-Cross will be granted relief <br /> from the automatic stay to permit immediate application in full <br /> of the Credit Balance to reduce the BC Obligations; <br /> 3435\A002F_MPB 5 <br />