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VVI. -IV i. J. ZVV1I . i• V , a p 1tU:444-4'11`9 �r, stir � r WH'EKEAS 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 the 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 any damages to the remainder of Landowners' property,and whereas the parties acknowledge that this Agreement is being ontereLl 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 ofjust compensation for the taking thereof, WHEREAS the Parties believe that this Agreoment provides a resolution consistent with the need for District to maintain and augment its existing land disposal thcilities,while allowing Landowners to enjoy more advanced use of currently undevoloped 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 herein,the Parties hereby agree as follow;;: 1. Upon execution of this Agreement by all Parties,Landowners, on behalf of themselves and all of their successors and assigns,in whatever manner, agree to lease the Subject Property to the District for the purposes of land disposal flicili ties for so long as the District shall continue to require the use of the Subject Propert-f for those purposes. The lease payment shall be$1.00 per year,payable on June 1, 2004, and annually on each suceeasive Juno 1,or within 60 days of a vnitten 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 for 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 property for land disposal facilities,the District shall notify Landowners or their successors thereof in writin&and shell,within one year of such notioe,return the Subject Property to bare land,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 borne by the District. 4. During the term of occupancy of Subject Property by..he District,the District shall be responsible for reimbursoment to Landowners of all property taxes assessed against the Subject Property. During the term of the Lease, 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 3158557.6