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Settlement Agreement Page 2 NOW THEREFORE, in consideration of the promises, and other good and valuable consideration, and the mutual covenants set forth herein, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows: 1. Recitals. The recitals are part of this Agreement as if fully set forth herein. 2. Contract Accounting. The original Contract was in the amount of Five Million Three Hundred Eighty -Nine Thousand Nine Hundred Seventy -Two and10/100 Dollars ($5,389,972.10), less approved deductive change orders in the amount of One Hundred Seventy - Seven Thousand Four Hundred Forty -One and 89/100 Dollars ($177,441.89). As part of this settlement, the Parties have agreed upon a deductive credit for the costs to be incurred by the County to complete the landscaping scope required under the Contract in the amount of Two Hundred Eighty -Three Thousand Eight Hundred Seventeen and 24/100 Dollars ($283,817.84). Additionally, and as part of this settlement, the Parties have agreed upon a deductive credit'lfor work required under the Contract to be self -performed by the County in the amount of Fifty -Two Thousand Eighty -Two and 14/100 Dollars (552,082.14). To date, the County has made payments to H&D under the Contract in the amount of Four Million Six Hundred Thirteen Thousand Nine Hundred Fifty -Four and 43/100 Dollars ($4,613,954.43), thereby resulting in a final Contract balance due and owing in the amount of Two Hundred Sixty -Two Thousand Six Hundred Seventy -Six and/100 Dollars ($262,676.0). .him 3. GCNA's Claims Under the Bond. GCNA has received various claims by subcontractors, suppliers and/or laborers of H&D for goods and/or services already provided on the Project, such claims exceeding the amount due hereunder from the County. Additionally, to date, GCNA has made payments to such claimants in the total amount of Four Hundred Fifty - Four Thousand Six Hundred Eleven and 08/100 Dollars ($454,611.08): Claimant Claim Date Claim Amount Paid Amount Cornerstone Building Systems 4/28/10 16,095.00 16,095.00 Curry Controls Company 3/8/10 18,833.99 18,833.99 Flow -Rite Plumbing Inc. 6/15/10 6,935.32 6,935.32 Gene's Striping 5/7/10 625.00 625.00 Geosyntec Consultants 5/12/10 2,292.79 2,292.79 HydroMentia 4/30/10 35,025.00 35,025.00 HydroMentia 6/18/10 57,525.00 57,525.00 J. E. Hill Contractors, Inc. 3/2/10 64,117.26 64,117.26 Murray Logan Construction, 7/13/10 3.800.00 3.800.00 Inc. National Lining Systems, Inc. 5/5/10 39,232.50 39,232.50 Paragon Electric of Vero, Inc. 3/19/10 58,783.78 58,783.78