10-2186 Release/Settlement Agreement with Commerical Insurance Alliance

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RESOLUTION 10-2186 A RESOLUTION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING THE EXECUTION OF A RELEASE AND SETTLEMENT AGREEMENT BETWEEN COMMERCIAL INSURANCE ALLIANCE AND THE CITY OF CASSELBERRY; PROVIDING FOR CONFLICTS, SEVERABILITY, AND EFFECTIVE DATE. WHEREAS, the City Commission of the City of Casselberry desires to settle with COMMERCIAL INSURANCE ALLIANCE (hereinafter "CIA"), the surety company providing the bid bond to Garden World of Holiday, and the defendant named in the lawsuit filed in the Circuit Court in and for Seminole County, Florida, styled City of Casselberry v. Commercial Insurance Alliance, Case No. 2009 -CA -006086; and WHEREAS, the City sued CIA claiming that $25,000 is owed to the City based on the bid bond issued in favor of the City in the event that Garden World failed to furnish a bond for the faithful performance of a contract between Garden World and the City; and WHEREAS, CIA has offered $15,000 to settle the lawsuit, and the Commission finds it in the best interests of the City to settle for this amount to avoid future litigation expenses. NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF CASSELBERRY, FLORIDA, AS FOLLOWS: SECTION I. The City Commission of the City of Casselberry hereby approves the Release and Settlement Agreement with CIA (attached as "Exhibit A"), and authorizes the Mayor to execute said document on behalf of the City. SECTION II. Conflicts. All Resolutions or parts of Resolutions in conflict with any of the provisions of this Resolution are hereby repealed. SECTION III. Severability. If any Section or portion of a Section of this Resolution proves to be invalid, unlawful, or unconstitutional, it shall not be held to invalidate or impair the validity, force, or effect of any other Section or part of this Resolution. SECTION IV. Effective Date. This Resolution shall become effective immediately upon its passage and adoption. PASSED AND ADOPTED this 11"'h day of tp , A.D., 2010. ATTEST: onna Gardner, City Clerk 0- - � " -, �,- � (-Z, - Charlene Glancy Mayor/Commissioner