RELEASE AND SETTLEMENT AGREEMENT ‘This Release and Settlement Agreement (the “Release”) is made tnisLday orth 2021, by and between Basil (“Bill”) Agapion (“Bill Agapion”), Basil N.. Agapion (‘Basil ‘Agapion”), Sophia Agapion, and the City of Greensboro (the “City”, This Release refers to Bill ‘Agapion, Basil Agapion, and Sophia Agapion, collectively, as the “Agapion Family.” This Release refers to the Agapion Family and the City, collectively, as the “Parties.” WITNESSETH WHEREAS, the Agapion Family owns and/or has owned real property throughout the City of Greensboro, including but not limited to the following properties (collectively, the “Properties”): a) 3100, 3102, and 3104 Summit Avenue; b) 400 Berryman Street, ©) 614 Franklin Boulevard, 4d) 605 Waugh Street; ©) 865 South Elm Street, f) 803 Oak Street; g) 2333 and 2335 Floyd Street; h) 814 Dillard Street; i) 2316 Kersey Street; J) 1316 Town Street; k) 3000 Kilkenny Avenue; 1). $23 and 527 W, Terrell Street; m) $26 Julian Street; rn) 311 Summit Avenue; 0) 2012 Sharonbrook Drive; and p) 1403 Martin Luther King Jr. Drive. ‘The term “Properties” includes and incorporates any and all units, apartments, suites, apartments, structures, and improvements associated with each of the previous addresses; and WHEREAS, the City assessed civil penalties and fines against the Agapion Family for alleged violations of several provisions of the Greensboro Code of Ordinances, including but not limited to: the Greensboro Minimum Housing Code (Chapter 11), the Greensboro Fire Prevention and Protection Code (Chapter 10), the Greensboro Alarm Ordinances (Chapter 18) and the Greensboro Land Development Ordinances (collectively, the “Code Violations and Civil Penalties”); and WHEREAS, certain disputes arose between the Parties; and WHERBAS, the City filed a lawsuit against the Agapion Family in the General Court of Justice, Superior Court Division, of Guilford County, North Carolina, bearing file no, 19 CVS 7547 (the “Lawsuit”); and PaBors93118533WHEREAS, the Parties have agreed to compromise and settle all claims and disputes between them, NOW, THEREFORE, in consideration of the foregoing premises and of the mutual promises and covenants set forth below, the sufficiency end receipt of which the Parties acknowledge, the Parties agree as follows: 1. The Agapion Family agrees to pay $200,000.00 (the "Settlement Amount”), The Settlement Amount shall be paid from funds currently escrowed with Morehead Title Insurance Company (the “Escrowed Funds”), The City and the Agapion Family will cooperate to have Morshead Title Insurance Company release the Escrowed Funds{o the trust account of the ‘Agapion Family’s attorney, Nexsen Pruet, PLLC. Nexsen Pruet shall disburse the Settlement Funds to the City as soon as practicable as allowed by the applicable trust account rules of the ‘North Carolina State Bar. 2, The Parties agree to cooperate and to take all additional actions that might be necessary or appropriate to give full force and effect to the terms and intent of this Release, including, but not limited to, documentation from the City evidencing the Code Violations and Civil Penalties have been paid in full by the Agapion Family. 3. The City agrees there are no pending liens, and there are no pending repair assessments or orders that could become lien, asserted by the City related to any time period before August 1, 2019, against the properties / apartment complex commonly known as 3100, 3102, and 3104 Summit Avenue, Greensboro, NC. 4, Within ten (10) days after the City receives the Settlement Amount, the City will file with the Guilford County Clerk of Superior Court a Notice of Voluntary Dismissal, with prejudice, of all claims asserted in the Lawsuit and all claims that would be barred if not asserted in the Lawsuit, The Notice of Voluntary Dismissal will say that each Party shall bear its own costs and attorney fees. 5. Within fen (10) days after the City receives the Settlement Amount, the City close all claims, cases, files, penaities, fines, and matters pending before the City's Minimum. Standards Housing Commission related to the Properties and assessed against the Agapion Family; and 6. Forand in consideration of the above good and valuable consideration, and upon the date of this Release, the City, for itself ts past and present parent entities, subsidiaries, divisions, affliated entities, successors and assigns, and any of their insurers, unconditionally and irrevocably releases, waives, and forever discharges the Agapion Family from all claims, demands, actions, causes of action, penalties, fees, charges, assessments, damages, and expenses, known and unknown, liquidated or unliquidated, that exist on the date of this Release and relate to the Properties referenced above in Paragraph 3. The City doesnot release, waive, or discharge any claims by the City for any outstanding ad valorem property taxes, any claims by the City that acorue after the date of this Release, or any claims against anyone other than the members of the ‘Agapion Family who are specifically identified ebove and named as Defendants in the Lawsuit, pgso1s3118533,7. ‘The Parties further acknowledge and agree that this Release is a compromise of doubtful and disputed claims, and the payment and the releases specified in this Release shall not be construed as an admission of liability on the part of the Agapion Family, all of whom expressly deny any such liability, ‘This Release shall not be construed or used as an admission by the ‘Agapion Family or anyone else that the City’s claims are true or accurate, 8. The City agree that it signs this Retease in reliance upon its own knowledge and its own investigation of the facts and that it does not sign this Release in reliance upon any statement of the Agapion Family. 9. The Parties understand that this Release is a binding and legal agreement between the City and the Agapion Family, 10. The Parties declare that they have carefully read this Release, that they have been fully advised in connection with this Release by legel counsel of their own choice, that this Release has been fully explained, that they understand the Release’s terms and legal effect, and they sign this Release of their own free act, 1, Bach party has had the opportunity to participate in the drafting of this Release, which is the result of negotiations, The Partcs, therefore, specifically agree that, in the event of any dispute with respect to the interpretation of any term of this Release, neither Party shall be deemed to be the drafter, and any ambiguities will not be construed against any party as the tater. 12, This Release shall be governed and interpreted by the laws of the State of North Carolina, 13. This Release contains the entire agreement between the Parties. The terms of this Release are contractual in nature and not merely recitals and shall not be modified or amended except by a written instrument signed by the City, the Agapion Family, or their authorized representatives, 14. This Release may be signed simultaneously in one or more counterparts and may be signed and delivered electronically. Each such counterpart shall be deemed to be an original instrument, but all such countezparts together shall constitute one and the same instrument, NPOBOI3118593IN WITNESS WHEREOF, the parties have caused this Release to be signed by properly authorized individuals with full authority of their respective organizations CITY OF oe Title: 7 CMy Mtensgpr— Title: _@ BASIL (“BILL”) AGAPIOI wr badlBsl) daopeoe BASIL NT, AGAPION powo1s3118533,