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Settlement Agreement with US Bank National Association 070010 // SETTLEMENT AGREEMENT AND RELEASE BY AND BETWEEN US BANK NATIONAL ASSOCIATION,AS CERTIFICATE TRUSTEE FOR AMH-21 TRUST AND THE CITY OF MIAMI BEACH, FLORIDA This Settlement Agreement and Release ("Agreement"), is made and entered into this' ' day of WJ?.. k , 2020 ("Execution Date"), by and between US Bank National Association, as Certificate Trustee forAMH-21 Trust("AMH-21")and The City Of Miami Beach, Florida("City"). AMH-21 and the City are jointly referred as the"Parties". RECITALS WHEREAS, subsequent to the demolition of the unsafe structure located at the 800 84th Street, Miami Beach, Florida / Folio Number: 02-3202-008-1570 (the "Property") by the City of Miami Beach, Florida (the "City") pursuant to a Miami-Dade County Unsafe Structures Board Order(the"USB Order"), U.S. Bank Trust National Association as Certificate Trustee for AMH-21 ("AMH-21") filed a lawsuit against the City asserting claims for inverse condemnation and for deprivation of its procedural due process rights under the Fourteenth Amendment to the Constitution of the United States of America and 42 U.S.C. §1983; and WHEREAS,the City in response to the lawsuit, asserted a Counterclaim against AMH-21 for foreclosure of its municipal liens for unpaid utilities,for the costs incurred by the City in securing and demolishing the Property pursuant to the USB Order, and for other sums due and owed to the City; and WHEREAS, this matter is pending before the Honorable Marcia G. Cooke, United States District Judge, Case No. 19-20805-CIV-Cooke/Goldman (the"Action")with a jury trial date of July 20, 2020; and WHEREAS, AMH-21 and the City wish to avoid the expense, delay and uncertainty of lengthy litigation and appeals, and agree it is in their respective mutual best interests to resolve their disputes; and WHEREAS, AMH-21 and the City have engaged in settlement negotiations and entered into a tentative settlement in the amount of$199,173.54 to be paid by the City to AMH-21 to settle all claims asserted by AMH-21 in the lawsuit as well as all claims asserted by the City in its Counterclaim, subject to approval by the Mayor and City Commission; and WHEREAS, on March 11, 2020, in Resolution 2020-31196, attached as Exhibit "A", the City Commission approved a settlement between AMH-21 and the City in the amount of $199,173.54 and authorized the City Manager and City Attorney to take the necessary and appropriate steps for the implementation thereof; and further authorized the Mayor and City Clerk to execute any documents and/or agreements to effectuate the terms of the settlement. NOW, THEREFORE, in consideration of the mutual promises, agreements, undertakings, representations, releases and covenants contained herein, and for other good and valuable consideration, the sufficiency of which are hereby acknowledged by the Parties, and with the intent to be legally bound, AMH-21 and the City hereby agree as follows: 1. Settlement. AMH-21 hereby settles and compromises all claims of any kind or nature (including any claims for attorney's fees and costs), which AMH-21 had or may have had against the City for issues relating to or arising of the demolition of the Property that AMH-21 has attributed to the City,and the City hereby settles and compromises all claims of any kind or nature (including any claims for attorney's fees and costs), which the City has or may have had against AMH-21 relating to the Property up through and including the date of this Agreement. The Parties acknowledge that this Settlement is a compromise of the damages AMH-21 is seeking as to the demolition of the Property, and of the damages the City is seeking in its Counterclaim. 2. Settlement Terms. In consideration for the releases executed herein,AMH-21 and City agrees as follows: a. Within thirty (30) days of the Execution Date of this Agreement, City shall pay AMH-21 the sum of One Hundred Ninety-Nine Thousand One Hundred Seventy-Three Dollars and Fifty-Four Cents($199,173.54)of which payment shall be made check or wire transfer to AMH-21's lawyers trust account at Ritter,Zaretsky, Lieber&Jaime, LLP,Attn:Vivian A. Jaime, Esq., with an address 2800 Biscayne Blvd., Suite 500, Miami, FL 33137; b. Within thirty(30)days of the Execution Date of this Agreement,the City will issue and record Satisfaction of Liens for the following priority liens: i. Claim of Lien recorded on April 29,2015 in Official Records Book 29596 at Page 3776 for UTB Account 52145-01; ii. Notice of Priority Lien recorded on December 19, 2014 in Official Records Book 29435 at Page 3957 for Invoice#14-0258 (BG Group); iii. Notice of Priority Lien recorded on February 17, 2015 in Official Records Book 29503 at Page 4935 for Invoice US2013-016B (Miami- Dade County Unsafe Structures Board); iv. Notice of Priority Lien recorded on February 18, 2015 in Official Records Book 29504 at Page 1405 for Invoice#10073 (A Quick Board Up Services, Inc.) c. Within ninety (90) days of the Execution Date of this Agreement, the City will dismiss the following cases pending before the Special Master in and for'the City of Miami Beach, Florida: i. JC08000839—Line Martin; ii. JC09000035—Line Martin; iii. JC09000036— Line Martin; iv. JC09001096— Line Martin; and v. JB09000375—Line Martin, and all fines and court costs shall be waived. The next scheduled hearing date is June 4, 2020. d. Within thirty(30)days of the Execution Date of this Agreement,the City will dismiss and waive all sums due in connection with the following invoices/charges: i. US2016-00125—Unsafe Structures ii. RTX 1833801 — unfiled resort tax returns for 800-06 84th Street apartments; iii. RTX 1758001 —unfiled resort tax returns for Pablo Lorenzo iv. Invoice 44804—Line Martin v. Invoice 46595—Line Martin vi. nvoice 48370/CE13010543—Line Martin vii. nvoice 50267/CE13011287—Line Martin viii. nvoice 10964/CE09000351 —Line Martin ix. nvoice 11720/CE09001316—Line Martin x. nvoice 22643/CE11007015—Line Martin xi. nvoice 23899/CE11007250—Line Martin xii. nvoice 35544/CE12014465—Line Martin xiii. nvoice 26671/CE11013752— Line Martin xiv. nvoice 53559/CE13013810— Line Martin xv. nvoice 56586/CE14005213—Line Martin xvi. nvoice 60404/CE14011742—Line Martin e. AMH-21 will be responsible for payment of the utility bills generated post March 23, 2020 billing cycle. 3. Releases. In further consideration of the execution of this Agreement, the Parties for themselves and their respective parent companies, subsidiaries, divisions, affiliates, unit owners, insurers, officers, directors, agents, employees, subcontractors, representatives, successors and assigns (the "AMH-21 Releasors" and the "City Releasors"), hereby execute, subject to the conditions and exclusions set forth in this Agreement, the following Releases: a. The AMH-21 Releasors Release of the City Releasors:AMH-21 Releasors does hereby remise, release, acquit,satisfy, and forever discharge the City Releasors of and from any and all manner of claims, action, and actions, cause and causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, executions, claims, liabilities, and demands whatsoever, in law or in equity pertaining to the Property, which AMH-21 Releasors have held or now hold, ever had, now have, for any and all Claims, whether known or unknown, whether they were or could have been asserted in the Action, including, without limitation, all Crossclaims, Counterclaims and any and all other causes of action at law and equity pertaining to the Property. The AMH-21 Releasors understand and expressly agree that this Agreement extends to all claims pertaining to the demolition of the Property of every nature and kind, known or unknown, patent or latent, suspected or unsuspected, past, present, or future, arising from or attributable to any past actions or omissions of the City Releasors whether set forth in any pleadings or charge referred to herein or not, whether they were brought or could have been brought in the Action, and that any and all rights granted to the AMH-21 Releasors under any state law or federal law or regulation limiting the general nature of this Release are hereby expressly waived for the Property. b. The City's Releasors' Release of AMH-21 Releasors: The City Releasors do hereby remise, release, acquit, satisfy, and forever discharge the AMH-21 Releasors of and from any and all manner of claims, action, and actions, cause and causes of action, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, specialties, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, executions, claims, liabilities, and demands whatsoever, in law or in equity pertaining to the Property, which the City Releasors have held or now hold, ever had, now have, for any and all Claims, whether known or unknown, whether they were or could have been asserted in the Action, including, without limitation, all Crossclaims, Counterclaims and any and all other causes of action at law and equity pertaining to the Property. The City Releasors understand and expressly agree that this Agreement extends to all claims pertaining to the Property of every nature and kind, known or unknown, patent or latent, suspected or unsuspected, past, present, or future, arising from or attributable to any past actions or omissions of the AMH-21 Releasors whether set forth in any pleadings or charge referred to herein or not, whether they were brought or could have been brought in the Action, and that any and all rights granted to the City Releasors under any state law or federal law or regulation limiting the general nature of this Release are hereby expressly waived for the Property. c. Further Assurances and Cooperation: Each of the Parties hereby shall execute and deliver such additional documents, instruments, conveyances, and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and give effect to the transactions contemplated hereby. 4. Settlement Accord and Satisfaction.This Agreement is intended to and does settle and resolve all claims known or unknown, arising from, relating to, and in connection with the Property only, including the demolition,and constitutes a full and complete accord and satisfaction between and among the AMH-21 Releasers, and the City Releasers which are not now known and not previously discoverable with the exercise of due diligence. 5. Dismissal. a. AMH-21 will dismiss, with prejudice, provided that the court will reserve jurisdiction to enforce the terms of this Settlement Agreement, the claims against the City as asserted in the Action, with each Party to bear its own attorney's fees and costs within ten (10) days of the receipt of this fully executed Agreement. b. The City will dismiss, with prejudice, provided that the court will reserve jurisdiction to enforce the terms of this Settlement Agreement, the claims against AMH-21 as asserted in its Counterclaim, with each Party to bear its own attorney's fees and costs within ten (10) days of the receipt of this fully executed Agreement and the tender and clearance of the settlement funds set forth in Paragraph 2a above. 6. No Admission of Liability. The Parties acknowledge and agree that the claims in this Action are disputed claims and that the execution of this Agreement by the Parties, and the foregoing exclusions from the settlement set forth in this Agreement, are not intended to and shall not in any way constitute or be deemed an admission or acceptance of any liability by the Parties or an admission against interest by the Parties. There shall not be any implication by any trier of fact or law of any admission or acceptance of liability or admission against interest by the Parties. 7. Binding Effect. This Agreement shall be binding upon the Parties, and their respective successors and assigns. 8. Attorney's Fees. If any legal action, proceeding, or hearing is brought by either Party to resolve a dispute regarding payment, as provided in this Agreement, then the prevailing party shall be entitled to recover reasonable attorney's fees and court costs incurred. The Parties shall bear their own attorney's fees and costs relating to the Action to date. 9. Miscellaneous. The Parties further agree as follows: a. The Parties acknowledge and agree that this Agreement is fully and adequately supported by consideration and is fair and reasonable. The Parties further acknowledge and agree that: (i) each Party has had the opportunity to consult with, and has in fact consulted with, such professionals, experts and legal counsel of its choice as such Party may have desired with respect to all matters settled and resolved herein; (ii) each Party has participated fully in the negotiation and preparation of this Agreement; and (iii) each Party has carefully reviewed this Agreement and is entering into same freely. Accordingly, this Agreement shall not be more strictly construed against any Party. b. The Recitals set forth herein are true and correct to the best of the Parties' knowledge, information and belief, and they are incorporated into, and made part of, this Agreement. c. The Parties hereto understand and agree that this Agreement will not be binding on the Parties to this Agreement until such time as the City Commission of the City of Miami Beach has approved same, and the Agreement is fully executed by the Parties to the Agreement. City Commission approval is a material condition precedent to the execution and enforceability of this Agreement, without which the City does not agree to and is not subject to the terms and conditions contained herein. d. Each of the signatories hereto represents that he or she has authority to execute this Agreement and to bind the Party on whose behalf he or she has signed. e. This Agreement shall be construed and governed in accordance with the laws of the State of Florida and the sole and exclusive venue for any lawsuit relating to this Agreement is Miami-Dade County, Florida. f. In construing this Agreement, the singular shall be held to include the plural,the plural shall be held to include the singular,the use of any gender shall be held to include every other and all genders, and captions and paragraph headings shall be disregarded g. All of the exhibits attached to this Agreement are incorporated into, and made a part of, this Agreement. 10. Entire Agreement. This Agreement, together with any documents referenced herein, constitute the full and entire agreement and understanding between the Parties with respect to the subject matter hereof, and there are no agreements, representations or warranties except as specifically set forth herein. All prior discussions, negotiations, letters, demands and writings of any kind are fully merged into this Agreement and are to be construed to be of no further force or effect, it being the intention of the Parties that this Agreement shall serve as the sole and entire expression of their agreement and understanding. 11. Modification; Waiver. This Agreement may only be modified in writing signed by both Parties. No waiver or modification of the Agreement or of any covenant,condition or limitation contained herein, shall be valid unless in writing and signed by all Parties to the Agreement, or their authorized counsel. 12. Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original but all of which together represent one instrument. Each Party shall execute seven (7) original copies of the Agreement. 13. Severability. If any provision of this Agreement is held or rendered illegal or unenforceable, it shall be considered separate and severable from this Agreement and the remaining provisions of this Agreement shall remain in full force and effect and bind the Parties as though the illegal or unenforceable provision had never been included in the Agreement. 14. Captions; References. The captions of this Agreement are for the purpose of convenience of reference only and in no way define, limit or describe the scope or intent of the Agreement or in any way affect the terms and conditions of this Agreement. All references in the Agreement to the terms "herein," "hereunder," "hereof and words of similar import shall refer to this Agreement, as distinguished from the Paragraph, Section and/or Subsection within which such term is located, unless otherwise specified. 15. Third Parties. Nothing express or implied in this Agreement is intended or should be construed to confer upon or give any person or entity, other than AMH-21 and the City, any rights or remedies under or by reason of this Agreement including, without limitation, any other Defendants named or to be named in the Action. EXECUTED AS OF THE DAY AND YEAR FIRST ABOVE WRITTEN. Signed, sealed and acknowledged the presence of:, WITNESSES: US BANK TRUST NATIONAL ASSOCIATION,AS C • E TRU , - AMH 21 TRUST By:IA . it y' B . ' Print ame: Ind! Y1 ��� •." �CZ-1'(lar, I0,��LCbS a u-thOf"l Zee/ ATT ' ,dA -*e Print Name:_Ah4,,,,, mn� By: LAI �,�i0/1( ../N- OFA4414- [SEAL] 6 in of) . J i r1�� STATE OF FLORIDA ) )ss: COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me, by means of, physical presence or I=1 online no arization, this 2-( day of rncOrcii , 2g20 bylQrnrs re,--a;t LQ .n/j i; / U ' Olt ry12n�t 1�r 2 9� LC , as e, or l/M ot-US Bank Trust National ` Association, As Certificate Trustee For AMH 21 Trust. They are personally known to me or produced valid Florida driver's licenses as identification • Ashton Hamerlin d4Z My commission ex �,NOTARY PUBLIC 4:4' MtSTATE OF FLORIDA Notary Public, State of Florida4,. 1 a+2 Comm#GG931033 Print Name: Ash-A , -yrne✓h-; iN Expires 11/23/2023 [Signatures continued on the following page] WITNESSES: CITY OF MIAMI BEACH, FLORIDA, a municipal 0 corporation of the State of Florida A fiLLii.... , ' By:#9.°... --C, --:-:": "-:-.77-\173m...„ S. yi nt Name: Or ' >f�.�-tib,e Dan Gelber, or >' ` ATTEST: Com. -���� ;�, By: tel ' (cftp �` ; tRa eI Gra ado, Cit Cldrk STATE OF FLORIDA ) I -- 4,- 4 .<0 � COUNTY OF MIAMI-DADE ) h4h� '/`'f, 26�`' t°<'``°'l The foregoing instrument was acknowledged before me, by means of ' hysical presence or D online notarization, this 71 ' day of lVCfir' ! , 2020 by Dan Gelber, as Mayor, and Rafael Granado, as City Clerk of the CITY OF MIAMI BEACH, FLORIDA, a municipal corporation of the State of Florida, on behalf of such municipal corporation. They are personally known to me or produced valict Figala driver's Iicensesk ;'dentific-tion „iiNpa m.My commission expire �`� Nn.-.......�R,ti��'% f A %`4L I�/ -��°0MBER� ;•° Nota Publ c, a e of F•ri .....i: J s S-.. t *▪ . .0 •���m Print Name: / /'l a-/ A• ar'7,J _ W Z• #GG 916386 l• 'epj•°1'F nded lho�,e p.z". 40/1111111100 ��, ,,,Lt��� APPROVED AS TO i;>'-v 3 FORM & LANGUAGE �' .. f.`.? � ; -- & FOR EXECUTION *kaVW Dat IIUCDRp �,-.-• .;�_ � ity Attorney - . e1 r r I; l i, I iii 4 i "A" , i s i i. , RESOLUTION NO. 2020-31196 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING THE SETTLEMENT BETWEEN US BANK NATIONAL ASSOCIATION, AS CERTIFICATE TRUSTEE FOR AMH-21 TRUST AND THE CITY OF MIAMI BEACH, FLORIDA, IN THE AMOUNT OF $199,173.54; AND AUTHORIZING THE CITY MANAGER AND CITY ATTORNEY TO TAKE THE NECESSARY AND APPROPRIATE STEPS FOR THE IMPLEMENTATION THEREOF; AND FURTHER AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE ANY DOCUMENTS AND/OR AGREEMENTS, AS REQUIRED, TO EFFECTUATE THE • TERMS OF THE SETTLEMENT. WHEREAS, subsequent to the demolition of the unsafe structure located at the 800 84th Street, Miami Beach, Florida (the "Property") by the City of Miami Beach, Florida (the "City") pursuant to a Miami-Dade County Unsafe Structures Board Order (the "USB Order"), U.S. Bank Trust National Association as Certificate Trustee for AMH-21 ("AMH21")filed a lawsuit against the City asserting claims for inverse condemnation and for deprivation of its procedural due process rights under the Fourteenth Amendment to the Constitution of the United States of America and 42 U.S.C. §1983; and WHEREAS, the City in response to the lawsuit, asserted a Counterclaim against AMH21 for foreclosure of its municipal liens for unpaid utilities and for the costs incurred by the City in securing and demolishing the Property pursuant to the USB Order; and WHEREAS,this matter is pending before the Honorable Marcia G. Cooke, United States District • Judge, Case No. 19-20805-CIV-Cooke/Goldman with a jury trial date of July 20, 2020; and WHEREAS, AMH21 and the City wish to avoid the expense, delay and uncertainty of lengthy litigation and appeals, and agree it is in their respective mutual best interests to resolve their disputes; and • WHEREAS, AMH21 and the City have engaged in settlement negotiations and have entered into a tentative settlement in the amount of$199,173.54 to be paid by the City to AMH21 to settle all claims asserted by AMH21 in the lawsuit as well as all claims asserted by the City in its Counterclaim, subject to approval by the Mayor and City Commission. NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, the Mayor and City Commission of the City of Miami Beach, Florida, approving the settlement between US Bank National Association, as Certificate Trustee for AMH-21 Trust and the City of Miami Beach, Florida, in the amount of$199,173.54; and authorizing the City Manager and City Attorney to take the necessary and appropriate steps for the implementation thereof; and further authorizing the Mayor and City Clerk to execute any documents and/or agreements, as required, to effectuate the terms of the settlement. PASSED AND ADOPTED this /8 day of Artit--- , 2020. _M` ; Dan Gelber, Mayor ATTEST: 5; APPROVED AS TO .Ili[ORP ORATED; FORM & NGUAGE ra 3g .�- &FOR E ECUTION Rafae14. G anado, Ci y Clerk Z 1S' z 3rZ U City Attorney,,,,, / Date Resolutions-C7 C MIAMI BEACH COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Commission FROM: Raul J.Aguila, City Attorney DATE: March 18,2020 .SUBJECT:A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA,APPROVING THE SETTLEMENT BETWEEN US BANK NATIONAL ASSOCIATION, AS CERTIFICATE TRUSTEE FOR AMH-21 TRUST AND THE CITY OF MIAMI BEACH, FLORIDA, IN THE AMOUNT OF $199,173.54;AND AUTHORIZING THE CITY MANAGER AND CITYATTORNEY TO TAKE THE NECESSARYAND APPROPRIATE STEPS FOR THE IMPLEMENTATION THEREOF; AND FURTHER AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE ANY DOCUMENTS AND/OR AGREEMENTS, AS REQUIRED, TO EFFECTUATE THE TERMS OF THE SETTLEMENT. RECOMMENDATION Administration and CityAttomeyrecommend approval of the settlement. Applicable Area Not Applicable Is this a"Residents Right Does this item utilize G.O. to Know" item,pursuant to Bond Funds? City Code Section 2-14? No No Legislative Tracking • Office of the City Attorney ATTACHMENTS: Description o Memo o Reso • Page 453 of 1097 Ir.. , . BEACH City of Miami Booth, 1700 Convention Canter Drive,Miami Beach,Florida 33139,www.miamibeochfl.gov COMMISSION MEMORANDUM TO: Honorable Mayor and Members of the City Comrrlssion FROM: Raul J.Aguila. City Attorney DATE: • March 10, 2020 SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY ,OF MIAMI BEACH, FLORIDA, APPROVING THE SETTLEMENT BETWEEN US BANK NATIONAL ASSOCIATION, AS CERTIFICATE TRUSTEE FOR AMH-21 TRUST AND THE CITY OF MIAMI BEACH, FLORIDA, IN THE AMOUNT OF $199,173.54; AND AUTHORIZING THE CITY MANAGER AND CITY ATTORNEY TO TAKE THE NECESSARY AND APPROPRIATE STEPS FOR THE IMPLEMENTATION THEREOF; AND FURTHER AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE ANY DOCUMENTS AND/OR AGREEMENTS,AS REQUIRED, TO EFFECTUATE THE TERMS OF THE SETTLEMENT. ADMINISTRATION/CITY ATTORNEY RECOMMENDATION For reasons outlined in this Memorandum, Administration and City Attorney recommend that the Mayor and City Commission approve the settlement between US Bank National Association, as Certificate Trustee for AMH-21 Trust and the City of Miami Beach, Florida, In the amount of $199,173.54; and authorize the City Manager and City Attorney to take the necessary and appropriate steps for the implementation thereof; and further authorize the Mayor and City Clerk to execute any documents and/or agreements, as required, to effectuate the terms of the settlement. BACKGROUND Subsequent to the demolition of the unsafe structure located at the 800 84th Street, Miami Beach. Florida(the"Property")by the City of Miami Beach, Florida(the"City")pursuant to a Miami-Dade County Unsafe Structures Board Order(the"USB Order"), U.S. Bank Trust National Association as Certificate Trustee for AMH-21 ("AMH21")filed a lawsuit against the City asserting claims for inverse condemnation and for deprivation of its procedural due process rights under the Fourteenth Amendment to the Constitution of the United States of America and 42 U.S.C.§1983. In response to the lawsuit,the City asserted a Counterclaim against AMH21 for foreclosure of its municipal liens for unpaid utilities and for the costs incurred by the City in securing and demolishing the Property pursuant to the USB Order. Page 454 of 1097 Commission Memorandum March 10, 2020 Page 2 The lawsuit is pending before the Honorable Marcia G.Cooke, United States District Judge, Case No. 19-20805-CIV-Cooke/Goldman with a jury trial date of July 20, 2020. In order to avoid the expense,delay and uncertainty of lengthy litigation and appeals,AMH-21 and the City agree it is in their respective mutual best interests to resolve the pending litigation. FISCAL IMPACT STATEMENT Pursuant to Section 2-12 of the City Code,the proposed settlement will not result in a fiscal impact on the City's budget. • • 1 Page 455 of 1097