SETTLEMENT AND RELEASE AGREEMENT
THIS SETTLEMENT AND RELEASE AGREEMENT (hereinafter “THE AGREEMENT”) is hereby entered into on this ………………day of …….……………. Two Thousand and ……………………………
BETWEEN
- MANUEL JOSE CASTELLANO SUAREZ and EDGAR ANTONIO NAVA who are plaintiffs in a lawsuit, 2017-73108, currently filed in the 295th District Court of Harris County, Texas. They shall hereinafter be referred to as “THE PLAINTIFFS”.
AND
- GEORGE JONATHAN CHAPMAN MORALES D.B.A CJS INTERNATIONAL SUPPLIES who is the Defendant in the aforementioned lawsuit filed in the 295th District Court of Harris County. This Party shall hereinafter be referred to as “THE DEFENDANT”.
In the course of this contract, both parties to the contract mentioned above have been individually referred to as “Party” and jointly as “Parties”.
RECITALS
- The Defendant herein entered into an agreement with the Plaintiffs herein for the purpose of borrowing money from the said Plaintiffs in the sum of $44,800 (Forty Four Thousand and Eight Hundred Dollars)to fund a business opportunity.
- The Parties herein had agreed that the Defendant would repay the amount on or before ………. To which the Defendant declined, refused and/or neglected to repay the amount as agreed.
- In a bid to recover the amount, the Plaintiffs herein filed cause number 2017-73108 in the 295th District Court of Harris County Texas.
- The Parties herein have agreed to fully release and discharge each other concerning their claims and potential claims arising out of the subject matter pursuant to the terms and conditions set forth herein below;
NOW THESE TERMS ARE AGREED UPON BY THE PARTIES:
CONSIDERATION
- The Defendant herein shall pay the Plaintiffs FIFTY-THREE THOUSAND, FIVE HUNDRED DOLLARS ($53,500) (hereinafter the “SETTLEMENT AMOUNT”), which amount shall be deemed as the full and final amount. The Settlement Amount shall be paid in accordance with the schedule set out below;
MARCH JUNE SEPTEMBER DECEMBER
$3,000 $3000 $ 3000 $3000
APRIL MAY JULY AUGUST OCTOBER NOVEMBER $300 $300 $300 $300 $300 $300
- The amounts set out in this schedule shall be payable on or before the 1st day of each month set out above failure to which this contract will be revoked and the Plaintiffs shall be ay liberty to sue for breach of contract, the outstanding amount, attorney’s fees and any possible damages.
- The settlement amounts shall follow the schedule set above until the outstanding amount of $53,500 is fully paid.
- The aforementioned lawsuit, cause number 2017-73108 filed by the Plaintiffs shall remain in abeyance until such a time the Settlement Amount is fully paid or in the event the Defendant breaches the terms of this agreement, to which the Plaintiffs may proceed with the suit.
TERM OF THE CONTRACT
- This contract shall run for a period of ……….. and shall begin from the date of its execution of parties until payment of the entire settlement amount. Notwithstanding this clause, if the Defendant breaches the terms of this agreement, it shall be deemed terminated and the Plaintiff may proceed with litigation.
BINDING TERMS
- The terms and conditions of this agreement shall be binding upon the parties herein.
ENTIRE AGREEMENT
- This Agreement contains the whole agreement and understanding between the parties herein and supersedes all previous Agreements (if any) whether written or oral between the parties in respect of such matters.
ADDITIONAL PROVISIONS
- Successors and Assigns: This Agreement will be binding on and inure to the benefit of the Parties’ successors, assigns, agents and representatives.
- Captions: The titles and headings of the articles, sections and paragraphs of this Agreement have been included only for convenience and reference and will not be construed to extend, limit, describe or define the substance of any article, section or paragraph contained herein.
- No Promise or Representation: The parties warrant and represent and do hereby state and represent that they have made no promise or agreement to the other (Not expressed specifically within the Agreement) in executing this Agreement. The Parties each separately and expressly warrant that they are not relying upon any statement or representation of any agent of the parties being released hereby. No party has relied upon any agreement or representation not set forth or referenced herein whether the same may be oral or written.
- Applicable Law and Venue: The Parties expressly agree that this Agreement is executed and delivered and is intended to be performed in Harris County, Texas and that the law of the State of Texas will govern the validity, construction, enforcement and interpretation of any dispute or actions relating to or arising from this agreement without regard to choice or conflict of law principles. Any claims or actions relating to or arising from this agreement will be brought exclusively in any court of competent jurisdiction in Harris County, Texas and the Parties consent to jurisdiction in any such court and waive any objections to jurisdiction or venue in any such court including but not limited to claims based on lack of jurisdiction, forum non conveniens, or improper or inappropriate venue.
- Authority: Each party herein warrants and represents that it has full power and authority to enter into this agreement and to bind the Parties, that all necessary consents and approvals have been obtained and that no other consent, approval or action is required.
- Counterparts: This Agreement may be executed in several counterparts, each of which will be deemed to be an original, but all of which together will constitute one and the same instrument representing the Agreement.
- Informed Parties: Each of the parties to this Agreement separately represents and warrants that before signing this Agreement, it has fully informed itself of the terms, contents, conditions and effects of the Agreement and in making this Agreement, it has had the opportunity to consult with legal counsel of its own choosing. Each Party further warrants that the Agreement was executed by it voluntarily and that all statements, representations and agreements contained in the Agreement are contractual in nature and not mere recitations of facts.
- Cooperation: The Parties agree to cooperate in executing any supplemental or additional documents as may be necessary and appropriate to the conclusion of this matter consistent with the tenure of this Agreement.
- Severability: Each part of this Agreement is intended to be separate, and if any term, covenant, condition or provision hereof is illegal, invalid or unenforceable for any reason whatsoever, such illegality, invalidity or unenforceability will not affect the legality, validity and enforceability of the remaining parts of the Agreement.
THE REMAINDER OF THIS PAGE HAS BEEN LEFT BLANK INTENTIONALLY
IN WITNESS whereof the parties hereto have executed this Contract the day and year hereinabove written.
MANUEL JOSE CASTELLANO SUAREZ
……………………………………………………………………
EDGAR ANTONIO NAVA
……………………………………………………………………..
THE STATE OF TEXAS ∞
COUNTY OF HARRIS ∞
This instrument was acknowledged before me on …………January 2019 by MANUEL JOSE CASTELLANO AND EDGAR ANTONIO NAVA.
……………………………………………………………
Notary Public in and for the State of Texas
GEORGE JONATHAN CHAPMAN MORALES D.B.A CJS INTRTNATIONAL SUPPLIES
……………………………………………………………………………………….
THE STATE OF TEXAS ∞
COUNTY OF HARRIS ∞
This instrument was acknowledged before me on …………January 2019 by GEORGE JONATHAN CHAPMAN MORALES.
……………………………………………………………
Notary Public in and for the State of Texas
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