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HomeMy WebLinkAboutExhibitr f GENERAL MUTUAL RELEASE KNOW ALL MEN BY THESE PRESENTS THAT: 1. We, the City of Miami, its officials, employees, and all of its departments and divisions, their agents, servants, attorneys and employees (collectively, the "Insured'') and The North River Insurance Company ("North River") and each of its predecessors, successors, assigns, divisions, subsidiaries, affiliates, holding companies, parent companies, merged companies, and acquired companies, and their individual employees, officers, directors, principals, agents, attorneys, representatives, and third -party administrator RiverStone Claims Management, LLC, (collectively, the "Insurer"), voluntarily and knowingly execute this mutual release with the express intention of eliminating the liabilities and obligations described below. 2. Disputes and differences that we mutually desire to settle have arisen between us regarding insurance coverage for a claim brought against the Insured by the Estate of Richard Beatty, Case No. 02-23643 (S.D. Fla.) (the "Beatty Claim"), under Public Entity Excess Liability Policy No. 544-000062-6 (the "Policy") issued by North River to the Insured. The Insured and Insurer have asserted various claims and causes of action against each other with respect to their disputes regarding insurance coverage for the Beatty Claim as reflected in the pleadings filed in an action styled, City of Miami v. North River Insurance Co., Case No. 09:23025-Civ-Jordan/McAiley, currently pending in the United States District Court for the Southern District of Florida (the "Beatty Coverage Action"). 3. The purpose of this agreement is to resolve forever all current and future disputes between the Insured and the Insurer with respect to potential insurance coverage for the Beatty Claim arising under or related to the Policy, including but not limited to the Beatty Coverage Action. Through this agreement, the Insured and the Insurer are forever releasing, relinquishing, r acquitting and surrendering all rights, actual or alleged, under the Policy and/or applicable law with respect to the Beatty Claim and the Beatty Coverage Action. 4. Nothing contained herein shall be construed to be an admission of any kind by any party. This agreement is a negotiated settlement of disputed claims and is not intended to, nor will it be construed as, a construction or interpretation of the Policy, or as any policy of or agreement for insurance. Rather, it is the intent of the parties in entering into this agreement to resolve all disputes between the parties arising from or related to potential insurance coverage for the Beatty Claim under the Policy. This agreement, or the handling of the Beatty Claim, including any actions by any of the parties in connection with the Beatty Claim and the Beatty Coverage Action, will not be used for any purpose whatsoever to create, prove, or interpret any alleged obligations under any insurance policy or any other claims that may be asserted by the Insured or any other person, corporation, governmental agency, entity or party against the Insurer. 5. The consideration for this mutual release is as follows: a. North River has agreed to pay the Insured the sum of thirty-five thousand dollars ($35,000) within forty-five (45) days after its receipt of this General Mutual Release executed by the Insured. b. The Insured and North River agree to file a joint stipulation of voluntary dismissal, with prejudice, in the Beatty Coverage Action. C. The Insured and North River agree that each party shall bear its own attorneys' fees and costs for the Beatty Coverage Action. d. Other valuable consideration. Page 2 of 5 a 6. Except for any breaches of this agreement, in exchange for the consideration identified in Paragraph 5 above, the Insured expressly forever releases, relinquishes, acquits and surrenders all claims for potential insurance coverage for the Beatty Claim under the Policy and forever releases, relinquishes, acquits and fully discharges the Insurer from or for any and all obligations, duties and responsibilities of any nature for the Beatty Claim, including, but not limited to, (1) claims that the Insurer indemnify and/or pay defense costs or expenses to the Insured; and (2) claims for compensatory damages, punitive damages, extra -contractual damages or remedies, statutory damages or other relief based upon any allegation of unfair dealing, unfair or deceptive trade practices, improper defense or settlement practices, violations of an insurance or other statutory code, bad faith, breach of fiduciary duty, breach of contractual duty, fraud, malice or oppression, defamation, intentional tort, or other actual or alleged act or omission in connection with the investigation, handling, adjustment, litigation, or settlement of any claims arising out of the Beatty Claim or the Beatty Coverage Action. 7. Except for any breaches of this agreement, in exchange for the consideration identified in Paragraph 5 above, the Insurer expressly releases, relinquishes, acquits and surrenders all claims arising out of the Beatty Claim and forever releases, relinquishes, acquits and fully discharges the Insured from or for any and all obligations, duties and responsibilities of any nature for the Beatty Claim, including, but not limited to, (1) claims that Insured reimburse indemnity payments made by the Insurer in respect of the Beatty Claim; and (2) claims for compensatory damages, punitive damages, extra -contractual damages or remedies, or other relief based upon any allegation of breach of fiduciary duty, breach of contractual duty, fraud, malice or oppression, defamation, intentional tort or other actual or alleged. act or omission in Page 3 of 5 connection with the investigation, handling, litigation, or settlement of any claims arising out of the Beatty Claim or the Beatty Coverage Action. City of Aliami, a Florida Municipal Corporation M0 - Carlos Carlos Migoya, City Manager Or his Designee Date: Approved as to Form and Legal Sufficiency: Julie O. Bru, City Attorney Or her Designee Date: The North Riy�, nsurance Company By: Title: �l Date: Page 4 of 5 r STATE OF f ss: COUNTY OF I HEREBY CERTIFY that on this day, the foregoing instrument was acknowledged and executed before me this /4I day of 2010, by and who is personally known to me or has produced/yS L-mse' as identification. WITNESS my hand and official seal in the County and State this day of '�q VV, 2010. My Commission Expires: lvl( /ID Page 5 of 5 >b !A 1- Totary Public, State of �w