HomeMy WebLinkAboutSettlement Agreement & General Release Lakeview Terrace LLC, Jungbacker, Alexander & Bishop, Westowne ��Qan,do2.
SETTLEMENT AGREEMENT AND GENERAL RELEASE
THIS SETTLEMENT AGREEMENT AND RELEASE ( "Agreement ") is made this
I y of January, 2011, by and between Lakeview Terrace LLC, Jung.backer Children's
Present Interest Trust, J. Peter Jungbacker, Alexander & Bishop Ltd., 20 Street LLC, and
Oshkosh Westowne, LLC (collectively the "Owners ") on the one hand; and the City of Oshkosh,
Winnebago County, Wisconsin ( "City "), on the other hand.
WHEREAS, the Owners hold record title to real property in the City of Oshkosh and
have filed actions under Section 74.37(3) Wis. Stats., in Winnebago County Circuit Court
claiming excessive real estate taxes paid for the years 2008 and 2009; and
WHEREAS, the Owners, along with the properties owned, the properties' addresses, the
properties' tax parcel numbers, and the civil actions filed, are listed below as follows:
Property Owner Property Address Tax Key No. Civil Action No.
Lakeview 1191 High Ave 0507490000 09 -CV -2525
Terrace 10 -CV -1483
Jungbacker
Children's 1627 Elmwood Ave 1200670500 09 -CV -2526
Present Interest 10 -CV -1483
Trust
066001, 066002,
J. Peter 066003, 066004,
Jungbacker 066008, 066009,
N/A 066012, 066017, 09 -CV -2527
Alexander & 066018, 066020, 10 -CV -1483
Bishop 066023, 066024,
066025, 066026,
066029, 066030
20 Street LLC 1621 W 20 Ave 1323210000 10 -CV -1483
Oshkosh
Westowne, 2231 Westowne Ave 1621510300 10 -CV -1483
LLC
WHEREAS, the City of Oshkosh has denied that the assessments were excessive and
that any of the Owners are entitled to a refund of a portion of taxes paid for the years 2008 and
2009; and
WHEREAS, the Owners by their common stakeholder /manager and the City are
desirous of resolving the dispute without further expense and the uncertainty of a trial in this
matter,
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NOW THEREFORE, in consideration of the following representations, promises and
other valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the
Owners and the City agree as follows:
1. Assessments. The assessed values of the following real property for the years 2008
and 2009 shall be revised and reduced as set forth below.
Property Owner Address PIN 2008 Assessment 2009 Assessment
Lakeview 1191 High Ave 0507490000 $2,179,300.00 $2,179,300.00
Terrace LLC
Jungbacker
Children's 1627 Elmwood Ave 1200670500 $1,174,900.00 $1,174,900.00
Present Interest
Trust
All other assessments for all other Owners and properties in Case No. 09 -CV -2525, 09 -CV -2526,
09 -CV -2527 and 10 -CV -1483 shall remain unchanged from the assessment roll.
2. Refunds. The City shall provide refunds, without interest, to Lakeview Terrace LLC in
the amount of $9,414.42 for the tax year 2008, and $9,614.26 for the tax year 2009; and to
Jungbacker Children's Present Interest Trust in the amount of $8,512.59 for the tax year 2008
and $8,693.28 for the tax year 2009. The refunds shall be paid pursuant to the provisions of
Section 74.41 Wis. Stats. No other refunds shall be made.
3. Release. Lakeview Terrace LLC, Jungbacker Children's Present Interest Trust, J. Peter
Jungbacker, Alexander & Bishop Ltd., 20 Street LLC, and Oshkosh Westowne LLC on behalf
of themselves, their officers, partners, directors, agents, shareholders, subsidiaries, officials and
all other persons or entities who may make a claim of excessive assessments / taxation in
connection with all the properties included in Case Nos. 09 -CV -2525, 09- CV2526, 09 -CV -2527
and 10 -CV -1483, hereby release, satisfy and discharge the City from any and all claims that have
been asserted or could have been asserted for excessive assessments / taxation for the tax years
of 2008 and 2009.
4. Assignment. The releasing parties warrant and represent that no other person or entity
has any interest in any of the claims, assertions, demands, damages or other liabilities or
obligations which are referenced in this Agreement.
5. Dismissal. The releasing parties and the City shall execute a Stipulation and Order for
Dismissal With Prejudice and without further notice or costs for Winnebago County Circuit
Court Case Nos. 09 -CV -2525, 09- CV2526, 09 -CV -2527 and 10 -CV -1483.
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6. Authority. Each party warrants and represents that the undersigned are empowered
with the authority to bind the parties, along with their past, present or future agents, assigns,
directors, partners, employees, members, officers and successors to the provisions of this
Agreement by executing the same.
7. Entire Agreement. The terms of this Agreement constitute the entire agreement of the
parties. This Agreement may only be amended or modified by a writing which specifically refers
to this Agreement and which is signed by the parties.
8. Limitation of Agreement. Nothing in this Agreement shall be deemed a limitation of
the regulatory and taxing authority of the City of Oshkosh as conferred by law. This Agreement
and its terms relate only to the claims and tax years as described and set forth herein.
OWNERS CITY OF OSHKOSH
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Al ( �le a .: et— ,4/ . .eiof---
Lakevi- - a i r Mar khl off Ci Mana .,,/ / � tY Manager
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MOO .4/. „ .. . ids
Jungbacker IT • - P !sent nterest Trust Steven Schwoerer, Ci Assessor
AL Ail .Jh ILiiitAi 14 .J _ 1 Ili J. Peter J ngba• ke V * . ---, 7orenson,'� ' a rney
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Alli fill) ''-' al 0
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Alexander & BiFr d. yy Pamela brig, City Clerk
fjf 20 Street LL
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Oshkosh We • e �' r F f,t t A I 1
riari- tO pay thr �� '
s ;;r'�1nde?' this CitC
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y Comptroller
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