Settlement Deed
Settlement Deed
This Settlement Deed ("Deed") is entered into on this [Date], by and between [Your Name], residing at [Your Company Address] ("Plaintiff"), and [Defendant's Name], residing at [Defendant's Address] ("Defendant"). Hereinafter collectively referred to as the "Parties."
I. Recitals
Whereas, the Parties have been engaged in a legal dispute regarding the ownership of a parcel of land situated in [Location of the Property];
Whereas, the Parties desire to amicably resolve the said dispute and avoid further litigation expenses;
Whereas, the Parties have mutually agreed to settle the dispute on the terms and conditions set forth herein;
II. Terms and Conditions
2.1 Settlement Amount: Defendant agrees to pay Plaintiff the sum of Seven Hundred Thousand dollars ($700,000.00) as full and final settlement of all claims and disputes between the Parties.
2.2 Payment Schedule: The Settlement Amount shall be paid in six (6) equal monthly installments of One Hundred Twenty Thousand dollars ($120,000.00) each, commencing on June 1st, 2055, and continuing on the 1st day of each succeeding month thereafter until the entire Settlement Amount is paid in full.
2.3 Release and Discharge: Upon receipt of the final installment of the Settlement Amount, Plaintiff hereby releases and discharges Defendant, its agents, employees, and representatives, from any claims, demands, actions, causes of action, liabilities, and obligations, known or unknown, arising out of or in any way related to the dispute.
2.4 Confidentiality: The Parties agree to keep the terms and conditions of this Settlement Deed confidential and shall not disclose them to any third party, except as required by law.
2.5 No Admission of Liability: The execution of this Settlement Deed shall not be construed as an admission of liability or fault by either Party.
2.6 Governing Law: This Settlement Deed shall be governed by and construed by the laws of [Jurisdiction], without regard to its conflict of law principles.
III. General Provisions
3.1 Entire Agreement: This Settlement Deed constitutes the entire agreement between the Parties concerning the subject matter hereof and supersedes all prior agreements and understandings, whether oral or written.
3.2 Amendment: Any modification or amendment to this Settlement Deed must be made in writing and signed by both Parties.
3.3 Severability: If any provision of this Settlement Deed is held to be invalid or unenforceable, such provision shall be severed from this Deed, and the remaining provisions shall continue to be valid and enforceable to the fullest extent permitted by law.
IV. Execution
IN WITNESS WHEREOF, the Parties hereto have executed this Settlement Deed on the date first above written.
[Your Name]
[Date]
Plaintiff
[Defendant's Name]
[Date]
Defendant
Witness 1
[Witness 1 Name]
[Date]
Witness 2
[Witness 2 Name]
[Date]
V. Acknowledgment
On this [Date], before me, [Notary's Name], a notary public in and for the said state, personally appeared [Your Name], known to me to be the person described in and who executed the foregoing instrument, and acknowledged that he/she executed the same as his/her free act and deed.
Witness my hand and official seal.
Notary Public: [NOTARY'S NAME]
My Commission Expires: [EXPIRATION DATE]
