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-r <br />7_ The Village is willing to permit Plaintiffs ~(a) to <br />continue their current use of the Property as a public commercial <br />golf course, and related uses, pursuant to their special use <br />permit, and (b) to alter, modify or construct or reconstruct <br />improvements on the Property pertaining to its use as a public <br />commercial golf course. The Village is willing to permit Plain- <br />tiffs to make improvements to the Property, or otherwise alter, <br />modify, or reconstruct current improvements, as specified herein, <br />without concern for forfeiture of their special use permit. <br />8. The parties now desire to resolve their disputes and <br />differences and have concluded that it is in their best interests <br />to amicably resolve their differences in a manner which provides <br />..for the orderly use __ .~ of the Property and the <br />dismissal of the Federal Litigation. <br />NOW, THEREFORE, the parties hereto, for themselves and their <br />successors and permitted assigns, heirs and personal representa- <br />tives, as applicable,. in consideration of the mutual covenants <br />herein contained, agree as follows: <br />1. The parties will dismiss the Federal Litigation, with <br />prejudice, by means of a Stipulated Entry to be filed with the <br />Court as promptly as possible after final passage of the authoriz- <br />ing legislation by the Village and full execution of this Agreement <br />by the Village, in substantially the form attached hereto as <br />.Exhibit "B". Upon filing the Stipulated Entry, the Plaintiffs on <br />one hand, and the Village and Individual.Defendants on the other <br />hand, and their respective heirs, personal representatives, <br />successors and assigns, as applicable, expressly release the other <br />group, and their or its respective heirs, personal representatives, <br />successors and assigns, from all liability for claims, demands, <br />actions, causes of action, judgments and executions arising out of <br />the transactions or occurrences alleged in the pleadings of the <br />respective parties of the Federal Litigation. <br />2. The parties will immediately. enter into an Option <br />Agreement with respect to the purchase of the Property, a copy of <br />which is attached hereto as Exhibit "C" (the "Option Agreement") <br />thereby providing the Village with an option to purchase the <br />Property upon terms specified in the Option Agreement, during a <br />period of time which will commence on the day of , <br />1992, and terminate upon the earlier of (a) the day of <br />1997 or (b) the date that title to the Property is <br />conveyed to the Village pursuant to the Option Agreement (the <br />"Option Period"). <br />3. The Village will (a) forgive the past-due balances of the <br />amusement tax currently due and owing with respect to the golf <br />course operation on the Property, and (b) abate the amusement tax <br />as to the said golf course operation, and shall not impose any such <br />-~ <br />d ~ Y ~ W~ ~~~ ~~ ~'~~/ ~~4~' ~ <br />-2- <br />