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f <br /> WHEREAS on or about July 19, 2001,pursuant to an order of the San Joaquin <br /> County Superior Court, the District obtained an order of possession for the Subject <br /> Property. That order was served on the on all owners as of August 30, 2001. <br /> WHEREAS the Parties to this Agreement desire to compromise and settle the <br /> issues relating to acquisition and just compensation for the Subject Property contained in <br /> Exhibit"A,'.'as well as any damages to the remainder of Landowners' property, and <br /> whereas the Parties acknowledge that this Agreement is being entered into for the sole <br /> purpose of avoiding the vexation,uncertainties,and expense of litigation, including <br /> uncertainties regarding the right to take the Subject Property and the issue of just <br /> compensation for the taking thereof; <br /> WHEREAS the Parties believe that This Agreement provides a resolution <br /> consistent with the need for District to maintain and augment its existing land disposal <br /> facilities, while allowing Landowners to enjoy more advanced use of currently <br /> undeveloped property, adjacent to the District, constituting the remainder parcel in the <br /> Lawsuits. <br /> Agreement <br /> NOW THEREFORE, and in consideration of the promises and mutual covenants <br /> and Agreements contained herein, the Parties hereby agree as follows: <br /> 1. Upon execution of this Agreement by all Parties,Landowners,on behalf <br /> of themselves and all of their successors and assigns, in whatever manner, agree to lease <br /> the Subject Property to the District for the purposes of land disposal facilities for so long <br /> as the District shall continue to require the use of the Subject Property for those purposes. <br /> The lease payment shall be$1.00 per year,payable on June 1,2004, and annually on each <br /> successive June 1, or within 60 days of a written demand by Landowners or their <br /> successors, whichever is later. Failure to make such payment will not be grounds for <br /> termination of the Lease. <br /> 2. The term of the lease shall be for so long as the District continues to <br /> require the Subject Property for use as a land disposal facility. <br /> 3. At any time the District ceases to require the property for land disposal <br /> facilities, the District shall notify Landowners or their successors thereof in writing, and <br /> shall, within one year of such notice, return the Subject Property to bare land,the <br /> condition it was in at the time of the initial possession by the District. All such costs of <br /> returning the property to its prior condition shall be bome by the District. <br /> 4. During the term of occupancy of Subject Property by the District, the <br /> District shall be responsible for reimbursement to Landowners of all property taxes <br /> assessed against the Subject Property. During the term of the Lease, District shall <br /> maintain property and casualty insurance of reasonable value naming Landowners, and <br /> each of them, as additional insureds and shall indemnify and hold harmless Landowners, <br /> 2 <br /> 368557-6 <br />