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BOCK 23 r,U?32 MUTUAL RELEASE AND SETTLEMENT AGREEMENT This MUTUAL RELEASE AND SETTI.IMENT AGREEMENT (hereinafter "Agreement") is made effective this day of November, 2009, by and between Lee County, a political subdivision of North Carolina ("Lec County'), on the one hand, and MS Consultants, Inc. ("MS Consultants"), on the other; (Lee County and MS Consultants are referred to collectively as the "Parties"). WHEREAS, on or about November 26, 2001, MS Consultants and Lee Count entered into an Engineering Agreement (the "Contract") pursuant to which MS Consultants was to provide professional engineering services (the "Services") to Lee County for an industrial park expansion (the "Project"), and WHEREAS, a dispute has arisen regarding the Services (the "Dispute"); and WHEREAS, as a result of the Dispute, Lee County filed a civil action (the "Civil Action") in the Superior Court of Lee County, Case No. 09-CVS-00661; AND WHEREAS, the Parties to this Agreement desire to settle, compromise, and resolve the Civil Action, and/or any and all disputes arising out of and related to the Dispute, the Services, the Contract and/or the Project with respect to one another. NOW, THEREFORE, in consideration of the mutual obligations and undertakings hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: L Settlement Payment: In full and complete satisfaction of the Civil Action, MS Consultants shall pay Lee County the sum of $107,000.00 (the "Settlement Payment") as set forth on the schedule attached as Exhibit A hereto. All payments pursuant to Exhibit A shall be made by check payable to Lee County, North Carolina, and delivered to Lisa Minter, Finance Officer, Lee County, PO Box 1968, 106 Hillcrest Drive, Sanford, NC 27331-1968. 2. Credit on Future Work: In addition to the Settlement Payment, MS Consultants shall pay to Lee County an additional $30,000 in the form of credits on any future work completed within five (5) years from the date of this Agreement. The credit shall be in the form of a 10% professional credit given on all billed fees invoiced by or through MS Consultants to Lee County. Lee County may assign this credit in whole or in part with prior notice to MS Consultants. 3. Dismissal: Lee County will file a dismissal with prejudice of the Civil Action within seven (7) days of full execution of this Agreement and approval of this Agreement by the Lee County Commissioners, whichever occurs later. 4. Releases: {0027875].DOC V. COO 1.017243;). WCSR 4255265,1