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