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<br />RELEASE AND SETTLEMENT AGREEMENT
<br />This Release and Settlement Agreement (the "Agreement") is entered in to as of this day
<br />of September 2006, by, between, and among The Shelly Company, on behalf of its parents, subsidiaries,
<br />affiliates, successors, and assigns, including The Osterland Company ("Shelly"), and each of them,
<br />jointly and severally (hereinafter referred to as the "Plaintiffs"), and the City of North Olmsted,
<br />Cuyahoga County, Ohio, its Mayor, Council, Board of Control, officers, officials, agents, and employees,
<br />and (the "North Olmsted") (hereinafter collectively referred to as "Defendant"), all of whom may
<br />singularly be referred to as a"Party" and shall collectively be referred to herein as the "Parties."
<br />WITNESSETH:
<br />WHEREAS, Plaintiffs have filed a lawsuit against the North Olmsted styled Shelly Company, et
<br />al., v. City of North Olmsted, Case No. 05CV574174, in the Cuyahoga County Common Pleas Court
<br />(hereafter referred to as the "Litigation");
<br />WHEREAS, the Parties mutually desire to completely dispose of all claims, actions and causes
<br />of action, whether legal or equitable, which the Parties may have against each other, from the beginning
<br />of time to the date of this Agreement;
<br />WHEREAS, it is understood and agreed that the provisions hereof are not intended to be, and
<br />shall not be taken as, admissions of liability by the Parties, either with respect to the claims and subject
<br />matter of the Litigation or otherwise, and that this Agreement is made simply as a compromise of
<br />disputed claims in order to avoid further costs of future litigation; and
<br />WHEREAS, the releases made and given herein have been made and given without reliance
<br />upon any statement ar representation of the Parties hereto, except for the express representations and
<br />payment described herein.
<br />NOW, THEREFORE, for and in consideration of the above premises, the mutual promises,
<br />releases, and agreements herein contained, and for other good and valuable consideration, the Parties
<br />hereto agree as follows:
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