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C. The parties acknowledge that all claims which have <br />been or could be made by any of the parties in said litigation <br />are disputed by the other party as to both validity and amount. <br />The parties desire and intend fully to compromise and settle <br />all such claims and fully and finally resolve all differences <br />in consideration of the provisions of this agreement and upon <br />the basis of the allocation set forth below. The parties have <br />agreed to compromise said dispute for Nine Hundred Thousand <br />Dollars ($900,000.00) with the express understanding that the <br />Nine Hundred Thousand Dollars ($900,000.00) to be paid by <br />District to Volk-McLain is allocated in accordance with the <br />agreement of the parties as set forth in paragraph 5 below. <br />THE PARTIES AGREE AS FOLLOWS: <br />1. Effect of Recitals. The parties agree that <br />recitals A-C above are incorporated herein and made a part <br />hereof as if set forth in full. <br />2. Agreement by District. On or before August 10, <br />1978, District agrees to pay to Volk-McLain the sum of <br />$900,000.00 in cash or certified or cashier's check. <br />3. Dismissal and Release by Volk-McLain. Upon <br />receipt of the payment as set forth hereinabove in Section 2, <br />Volk-McLain agrees to file with the Court of Appeal far the <br />State of California, First Appellate District, Division Two, <br />an abandonment and dismissal of appeal on behalf of Volk- <br />McLain Properties, a limited partnership. <br />Volk-McLain further agrees to take and do all other <br />steps which are or which become necessary to secure a full, <br />final and complete dismissal of the appeal with prejudice. <br />2 <br />