HomeMy WebLinkAboutCAG2021-420 - Original - Hytek Finishes Company - CR 2A Settlement Agreement - 05/14/2020CR 2A — Settlement Agreement
In re City of Kent — South 224th Street Improvement Project (Hytek Finishes Co)
King County Superior Court Cause No. 18-2-55748-8 KNT
Petitioner The City of Kent ("City") and Respondent Hytek Finishes Co. ("Hytek") have agreed
in mediation today as follows:
(1) The parties agree to submit a Stipulated Amended Judgment and Decree of Appropriation
("Amended. Judgment") for entry by the court in the above -referenced condemnation
proceeding ("Condemnation"). The Amended Judgment shall:
(a) Replace Exhibit A to the September 19, 2019 Judgment to reflect that the
"Property" being taken in the Condemnation includes the entirety of King County
Tax Parcel Nos. 383000-0030, 383000-0055, and 383000-0070, and removes the
exclusion of the "east 250 feet" of Parcel A.
(b) Amend the Principal Judgment Amount ("Just Compensation") --previously
$550,000 and deposited into the Court Registry on August 20, 2019 to be
$600,000.
(2) The $50,000 being added to the Just Compensation as a result of this mediation will be
subject to the accrual of interest that is described in Paragraph 4.2 of the September 19,
2019 Judgment, except that the start date for accrual of interest on the $50,000 shall be
the date of entry of the Amended Judgment.
(3) The parties agree to promptly execute all documents necessary to effectuate the
settlement and transfer title of the property to the City of Kent. The parties agree that the
City's pending arbitration matter scheduled for hearing on June 22, 2020, and its case
deadlines, will be stayed while the parties effectuate the settlement. The City agrees to
dismiss the arbitration after entry and recording of the Amended Judgment.
(4) Any dispute as to the terms of this CR 2A agreement shall be submitted to binding
arbitration before Judge Steve Scott (Ret.), and at arbitration Judge Scott shall have the
authority to refer to his notes and recollections from the mediation, as well as his
subjective understanding upon deal points and language contained in this CR 2A
Agreement. Judge Scott shall also have the discretion to award the prevailing party its
attorney's fees and costs.
R. Gerard Lutz