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SETTLEMENT AGREEMENT AND RELEASE THIS SETTLEMENT AGREEMENT and RELEASE ("Agreement") is made and entered into by and between CHEVRON PRODUCTS COMPANY, a division of CHEVRON U.S.A. INC., a Pennsylvania corporation ("Chevron"), and COUNTY OF MARION, OREGON, a body politic, incorporated in the State of Oregon, ("Owner") as follows: RECITALS WHEREAS; Owner is the current owner of property located at 595 Court Street, Salem, Oregon, previously known as Chevron Station No. 9-1008 (the "Property"); and WHEREAS; Chevron sold the Property to Owner pursuant to a Purchase and Sa1e Agreemer~t dated I~~ovember lb, 1994 as amended by Amendment No. 1 to Purchase and Sale Agreement dated August 26, 1997; and WHEREAS; an underground waste oil tank allegedly from Chevron's previous operations was discovered on the Property by Owner subsequent to such sale for which Owner claims to have incurred costs and expenses associated with its removal; and WHEREAS; a dispute now exists between Owner and Chevron regarding Chevron's obligation to reimburse Owner for such costs and expenses; and WHEREAS; the parties wish to resolve the dispute between them in an amicable manner. NOW THEREFORE, in consideration of the foregoing, and in consideration of the mutual provisions of this Agreement, the parties hereto agree as follows: l. Settlement Pavment. Chevron agrees to pay Owner and Owner agrees to accept the sum of Eleven Thousand Five Hundred Forty Nine and 50/100 Dollars ($11,549.50) in full and complete settlement, satisfaction and release of any and all claims Owner may have, known or unknown, against Chevron regarding Chevron's obligation, if any, to reimburse Owner for costs which it has incurred associated with the remeva! of said tank. Suid payrr~e:~t shall be made within fifteen (15) business days after execution and delivery of this Agreement by the parties. 2. Disputes. If a dispute arises between the parties relating to this Agreement, the parties hereto agree to use the following procedure prior to pursing other legal remedies: A. A meeting sha11 be held promptly between the parties attended by individuals with decision-making authority who will attempt in good faith to negotiate a resolution of the dispute. B. If within fifteen (15) days after convening such meeting, the parties have not succeeded in negotiating a resolution, they agree to submit the dispute to mediation utilizing a mediator who is mutually acceptable, and to bear equally the costs of the mediation. Diamondl9-1008.doc Page 1