HomeMy WebLinkAboutAgr 1998-11-12 (Midstate Construction)PROJECT
Tiburon Town Hall
New Construction Contract
(dated June 3, f996)
SETTLEMENT AGREEMENT
Parties
The parties to this Agreement are Midstate Construction Corporation, a California
Corporation ("Midstate"), and the Town of Tiburon, a California Municipal Corporation
("Tiburon").
Terms of Agreement
For good and valuable consideration, the receipt of which is acknowledged, the parties
agree as follows:
Within five days of the execution of this Agreement by Tiburon, Midstate agrees to
pay Tiburon the sum of $6,431 as outlined on Attachment "A" hereto. The
settlement sum shall be remitted to Robert L. Kleinert, Town Manager of Tiburon.
2. Within five days of the execution of this Agreement by Midstate, Tiburon shall
authorize Trans Pacific National Bank to release the securities held in lieu of
retention at Trans Pacific to Midstate. The amount of the security held is $40,051,
plus accrued interest.
3. Effective upon execution of this Agreement, and payment of the sum set forth in
Paragraph 1, and the release of the funds set forth in Paragraph 2, each party for
itself and its directors, officers, employees, agents, attorneys, representatives,
sureties, insurers, successors, and assigns, hereby releases the other party and its
respective directors, officers, employees, partners, affiliates, agents, attorneys,
representatives, sureties, insurers, successors and assigns from any and all claims
arising from or related to the Project.
4. The releases in Paragraph 3 apply to all past, present and future claims (whether
known or unknown, accrued or unaccrued, legal or equitable, actual or potential),
except for the following
a. Rights to indemnity or contribution in connection with claims asserted by
third parties after the date of this Agreement.
b. Claims relating to or arising from latent deficiencies in Midstate's work and
indemnity and contribution rights in connection with such latent deficiency
claims. The release does specifically include substitution of materials in the
electrical component of the project and issues surrounding the back
priming of the siding.
C. Any warranties still in effect.
5. With regard to the matters released, each party waives the rights granted by
Section 1542 of the California Civil Code, which states as follows:
A general release does not extend to claims which the creditor does not
know or suspect to exist in his favor at the time of executing the release,
which, if known by him, must have materially affected his settlement with
the debtor.
6. This Agreement embodies a compromise of disputed issues and is made in good
faith. The parties understand that no party hereto admits any negligence, breach of
contract or any wrongdoing in connection with the matters herein referred to, and
that the compromise embodied in this Agreement is not an admission of any fault,
liability or culpability by any party.
7. This Agreement benefits and is binding upon each party hereto and his or her
principals, heirs, legatees, transferees, parents, subsidiaries, successors and assigns.
Each party warrants that it has full ownership of the claims released by it.
8. In the event that any portion of this Agreement shall be found void or voidable by
a court of competent jurisdiction, such portion shall be stricken and the Agreement
reformed to as closely approximate, as the law permits, the intent of the stricken
portion or portions.
9. Each party acknowledges that the drafting of this Agreement was the product of
negotiation, that no party is the author of this Agreement, that this Agreement
shall not be construed against any party on the ground that such party authorized
or drafted this Agreement, and that each signatory has the authority to sign on
behalf of the party indicated below.
10. This Agreement may be executed in counterparts and is effective upon the
signature of the document by all parties hereto.
DATED: Z
By
Its:
DATED: We// 14 ?,p
Approved as to Form:
By:
Its
MIDSTATE CONSTRUCTION CORPORATION
Roger Nels~7
President
TOWN OF TIBURON
Robert L. Kleinert
Town Manager
Ann R. Danfo , T n Attorney
2
ATTACHMENT "A"
(SETTLEMENT AGREEMENT - dated November 6, 1996)
Credits due the Town of Tiburon from Midstate Construction Corporation:
1. Approved change Order No. 64:
Credit for Uninsulated ducts - $ 11231
2. Electrical credits negotiated 5/8/98
Nos. 1 - 6 and 8 - 23,618
3. Credit for substitution of 11 yard lights.
Reference: Tiburon letters dated 8/12/98
and 9/3/98. - 23582
TOTAL CREDITS DUE TOWN OF TIBURON = $ 6,431
3
TOWN OF TIBURON
Sent Via Fax
1505 TIBURON BOULEVARD • TIBURON • CALIFORNIA 94920 • (415) 435-7373
FAX (415) 435-2438
TIBURON FINANCE OFFICE
From: Richard Stranzl, Finance Director
Office: (415) 435-7378
Fax: (415) 435-2438
to: TRANS PACIFIC NATIONAL BANK
Mr. Barney Schley
fax M 415/495-5154
re: Release of Security Funds Held in Retention
date: November 17, 1998
pages: , attached to cover sheet.
Dear Mr. Schley:
By way of this letter, and in accordance with the Settlement Agreement between the Town of Tiburon
and Midstate Construction, the Town of Tiburon releases its interest in the securities held in lieu of
retention to Midstate Construction of Petaluma.
Please call me at 415/435-7378 should you have questions.
Sincerely,
TOWN OF TIBURON
BY
Richard Stranzl
cc: R. Treboutat, Controller
Midstate Construction
by FAX
Post-it" Fax Note 7671
Date
pages
To
From
Co./Dept 1
Co.
~
Phone #
hone #
Fax #07047 _ -7 4~a
x
I T-gSMISSION ',dERIFICATION REPORT
TIME: 1111711998 03:11
NAME: TOWN OF TIBURON
FTC : 4154352438
TEL : 4154357373
DATE DIME
11117 03:10
FAX NO. /NAME
17077624606
DURATION
00:00:38
PAGE (S)
0
RESULT
OK
MODE
STANDARD
I 7 "ISMISSION VERIFICATION REPORT
TIME: 1111711998 03:09
NAME: TOWN OF TIBURON
FAQ; : 4154952438
TEL : 4154357373
DATE, TIME
11117 03:07
FAQ; NO./NAME
4955154
DURATION
00:00:29
PAGE(S)
01
RESULT
OK
MODE
STANDARD