HomeMy WebLinkAbout910334.tiff RELEASE AGREEMENT
THIS RELEASE AGREEMENT is made and entered into this nit
day of l tN , 1991, by and between WELD COUNTY,
COLORADO, b( and through the Board of County Commissioners of Weld
County, Colorado, 915 Tenth Street, Greeley, Colorado 80631,
hereinafter referred to as "Weld County, " and PHOENIX COMPUTER
SYSTEMS, INC. , 8340 East Raintree Drive, Suite B-2 , Scottsdale,
Arizona 85260, hereinafter referred to as "Phoenix Computer. "
WITNESSETH:
WHEREAS, on February 6, 1991, Weld County accepted the bid by
Phoenix Computer in the sum of $51, 176 . 00 for the purchase by
Phoenix Computer of equipment owned by Weld County and described in
the attached Exhibit "A" , and
WHEREAS, the acceptance of the bid by Weld County was
communicated to Phoenix Computer both by telephone on February 6,
1991, and by letter dated February 6 , 1991, a copy of which is
attached hereto as Exhibit "B" , and
WHEREAS, the bid documents, signed by Joseph P. Prochelo,
President for Phoenix Computer, a copy of which is attached hereto
as Exhibit "C" , was as a contract with Weld County for the purchase
by Phoenix Computer of the computer equipment described in Exhibit
"A" for the sum of $51, 176 . 00, and
WHEREAS, along with the bid, Phoenix Computer provided Weld
County :with a retainer fee of $500 . 00 , and
WHEREAS, Phoenix Computer failed to purchase said computer
equipment as required by the contract.
NOW, THEREFORE, in consideration of the payment of $13, 000 . 00
in six ( 6 ) equal installments, according to the schedule as set
forth in Section II below, and compliance with the conditions set
Page 1 of 4 Pages
91O334
lP000 4 , ,
forth in Section III below, and the other consideration, mutual
promises and agreements of the parties as set forth below, the
parties hereto agree as follows :
I . RELEASE AND WAIVER
Weld County, for the consideration as set forth below and as
stated above, and only upon Phoenix Computer' s compliance with the
conditions as set forth in Section III below, does hereby and for
its heirs, executors, administrators, successors, and assigns,
release, quit, and forever discharge Phoenix Computer, its
officers, directors, shareholders, employees, agents, servants,
successors, heirs, executors, and administrators, from any and all
claims, actions, causes of action, demands, rights, damages, costs,
loss of service, expenses, and compensation whatsoever which Weld
County now has, or which it may hereafter accrue on account of, as
the result of, or in any way associated with Phoenix Computer' s
failure to purchase the computer equipment listed in Exhibit "A"
for the sum of $51, 176 . 00 as agreed to by way of the contract which
is embodied in the attached Exhibit "B. "
II . CONSIDERATION
The consideration for this Release Agreement is as follows :
A. Phoenix Computer shall pay Weld County, Colorado, the sum
of $13,000 . 00, with all payments made payable to: The Board of
County Commissioners of Weld County, Colorado, P. O. Box 758,
Greeley, Colorado 80632 , and payable in six (6) equal installments
and on the dates as hereinafter set forth:
Date Due Payment Amount
April 15, 1991 $ 2, 166 . 67
May 15, 1991 $ 2 , 166 . 67
June 15, 1991 $ 2 , 166 . 66
July 15, 1991 $ 2 , 166 . 66
August 15, 1991 $ 2 , 166 . 67
September 15, 1991 $ 2 , 166 . 67
TOTAL $13,000 . 00
3
Page 2 of 4 Pages
Any payments not received on the requisite dates shall incur
interest at the rate of eighteen percent ( 18%) per annum.
B. Weld County will keep the $500 . 00 retainer which Phoenix
Computer submitted to Weld County with its bid on February 1, 1991 .
C. Weld County shall provide a letter to Phoenix Computer
after September 1, 1991, which states that all the conditions of
this Release Agreement have been met and the Release is in effect,
only if the conditions as set forth in Section III below have been
met as of that date.
III . CONDITIONS OF RELEASE
The parties hereto agree that the following conditions shall
govern this Release Agreement and that this Release Agreement shall
not become effective until and unless the conditions set forth
below have been met, as determined by Weld County:
A. The receipt by Weld County of the sum of $13, 000 . 00
according to the schedule and in the amounts set forth in Section
II above.
B. The provision by Weld County of a letter from the Board
of County Commissioners of Weld County, Colorado, to Phoenix
Computer after September 1, 1991, which states that the sum of
$13, 000 . 00 has been received by Weld County according to the
schedule and in the amounts set forth in Section II above. Weld
County shall not unreasonably withhold this letter.
IV. SCOPE
It is understood and agreed by the parties that this Release
Agreement is the compromise of a doubtful and disputed claim, past,
present, or future, and that the consideration made is not to be
construed as an admission of liability on the part of the party or
Page 3 of 4 Pages
9. 1.0331.
parties hereby released and that said releasees deny liability
therefor and intend merely to avoid litigation by this settlement .
v. REPRESENTATIONS
Weld County and Phoenix Computer warrant and represent to one
another that no promise or agreement not expressed herein has been
made to any other party, and that this Agreement constitutes the
entire agreement between the parties for the purposes set forth
herein and that the terms of this Agreement are contractual and not
mere recitals . Weld County and Phoenix Computer also acknowledge
that they have read this Agreement and have had the opportunity to
consult with their respective attorneys prior to executing the
Agreement and that they fully understand the terms of this
Agreement as set forth herein.
SIGNED this j'alitiv day of it ),L,_, , 1991 .
/11y �1 �I���� WELD COUNTY, COLORADO, by and
ATTEST: / through the Board of County Com-
missioners of Weld County,
Weld County Clerk to the Board Colorado
BY: id./ffel� ���4-4 By:
Deputy Clerk to the.--56a-td Go , Chairman
PHOEN COMPUTER EMS, INC.
By-
oseph P. Prochelo, President
BSCRIBED AND SWORN to before me this 0 day of
cii , 1991 .
WITNESS my hand and official seal .
oia'reif N e4e,
Notary Public
My commission expires :
/ G^' . : , ;i.:,
Page 4 of 4 Pages
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