- 16 - thereof--Thoner, Murray, and Chaky (the makers)--a suit was instigated to force payment (the lawsuit). The lawsuit was settled pursuant to a document entitled "Compromise and Settlement Agreement, Indemnity Agreement, and Release in Full" (the settlement agreement). Both Teresa and Tracy executed the settlement agreement. In pertinent part, the settlement agreement provides as follows: The makers shall pay $1,700,000 to Teresa and the same amount to Tracy and shall convey to each certain real property; the $2 million notes shall be delivered to the makers; each of the daughters represents that she "is the sole owner and holder of said promissory note, and that she has not assigned (collaterally or absolutely), pledged or hypothecated said promissory note". Following execution of the settlement agreement, Tracy wrote in her own handwriting on the face of the $2 million note endorsed to her: Paid in full by cashier's check #202259 drawn on Allied Champions Bank /s/ Tracy C. Parker Tracy received a check for $1.7 million upon signing and surrendering the note. Likewise, following execution of the settlement agreement, Teresa wrote in her own handwriting on the face of the $2 million note endorsed to her: Paid in full by cashier’s check #202260 drawn on Allied Champions Bank. /s/ Terry Parker DavisPage: Previous 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 Next
Last modified: May 25, 2011