4.10 SR 04-15-2024 - Laserfiche WebLink

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SETTLEMENT AGREEMENT AND RELEASE THIS SETTLEMENT AGREEMENT AND RELEASE ("Agreement") is fully effective as of March , 2024 and is entered into by the following parties on behalf of themselves and their heirs, personal representatives, successors, assigns, subrogees, insurers, attorneys and persons identified in interest with all of the foregoing (individually a "Party" and collectively the "Parties"): I. City of Elk River, Minnesota (sometimes referred to as "the City" or "the Plaintiff'); 2. Bolton & Menk, Inc. ("BMI"); 3. Rice Lake Contracting Corp. ("RLC"); 4. Vessco, Inc. ("Vessco"); 5. Schwing Bioset Incorporated ("SBI"); The Parties identified in Paragraphs 2 through 5 above are hereinafter collectively referred to as the "Defendants." RECITALS A. The City commenced an action against BMI in Sherburne County, Minnesota, Court File No. 71-CV-22-399 (the "Action") claiming damages for breach of contract and professional negligence arising out of the City of Elk River's Wastewater Treatment Facility Improvements Project (the "Original Project."). BMI was the engineer for the Original Project and RLC was the general contractor for the Original Project. The Original Project scope of work included the installation of wastewater screw presses and Vessco was the screw press supplier. The City alleged that BMI specified screw presses that did not meet the performance requirements of the City. BMI denied the City's claims and brought third -party claims for contribution, indemnity, and negligence against RLC, Vessco, and SBL BMI also brought breach of contract claims against Vessco and RLC based on its alleged third party beneficiary status, and also brought negligent misrepresentation and promissory estoppel claims against SBI. B. The Defendants denied all liability for the claims alleged and all damages claimed against each other in the Action. City of Elk River / BMI /RLC/ Vessco/SBI I Settlement Agreement Page 108 of 201