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<br />RELEASE OF CLAIMS <br /> <br />In consideration of the Settlement Agreement entered into by and between Ronnie and <br /> <br /> <br />Yvonne Halpaus ("Halpaus"), Defendants Windsor Development LLP ("Windsor") and the City <br /> <br /> <br />of Elk River ("City"), in the matter of Ronnie Halpaus et al. v. Windsor Development LLP. et <br /> <br /> <br />al. Court File No. 02-12929 (the "Case"), relating to the property legally described as Lot 14, <br /> <br /> <br />Block 1, M-Vale Addition (the "Property"), the undersigned on behalf of themselves, their heirs, <br /> <br />executors, assigns, and subsequent owners of the Property, hereby release and forever discharge <br /> <br />the City, their officers, employees, agents and insurers, from any and all claims, suits and or <br /> <br />damages, of every kind, nature and description which they had, or may have, known, or <br /> <br />unknown, specifically including, but not in any way limiting the generality of the foregoing <br /> <br />release, all claims, now and in the future, related to the development or approval of the Seven <br /> <br />Oaks Development adjacent to the Property and any actions or inaction by the City with respect <br /> <br />to the diversion, discharge or accumulation of water on the Property in any way arising or <br /> <br />resulting from the Seven Oaks Development whether based on theories of tort, inverse <br /> <br />condemnation or any other theory. <br /> <br />This Release touches and concerns the Property, and this Release is intended to and does <br /> <br />run with the Property, constituting a binding covenant. This Agreement is made for the benefit <br />