8/22/2008 - SETTLEMENT AGREEMENT ISSUED. WITHIN 30 DAYS, THE SETTLING PARTIES SHALL, FOR THE SUM OF $10 DOLLARS TO BE PAID BY THE PROPERTY BROKER, EXECUTE A QUITCLAIM DEED CONVEYING THEIR ENTIRE INTERESTS IN THE PROPERTY TO THE PROPERTY BROKER. THE BROKER SHALL UNDERTAKE BEST EFFORTS TO SELL THE PROPERTY BY THE REQUIRED SELL DATE. IF THE PROPERTY OR ANY PORTION OF THE PROPERTY REMAINS UNSOLD BY THE REQUIRED SALE DATE, THE PROPERTY BROKER SHALL SUBMIT THE PROPERTY FOR SALE BY PUBLIC AUCTION WITHIN 60 DAYS OF THE REQUIRED SALE DATE. WITHIN 60 DAYS, THE BROKER SHALL SUBMIT TO EPA, INFORMATION DOCUMENTING ITS BEST EFFORTS TO SELL THE PROPERTY. THE PROPERTY BROKER SHALL THEREAFTER SUBMIT AN UPDATE DOCUMENTING ITS CONTINUING BEST EFFORTS TO SELL THE PROPERTY EVERY 90 DAYS, WITH TEH FIRST UPDATE DUE 150 DAYS FROM THE EFFECTIVE DATE.
IF THE PROPERTY BROKER SELLS THE PROPERTY, EITHER BY ACCEPTANCE OF AN OFFER PURSUANT TO PARAGRAPH 13(a)(iv) OR AT PUBLIC AUCTION PURSUANT TO PARAGRAPH 13(a)(ii), THE PROPERTY BROKER SHALL BE ENTITLED TO AND MAY RETAIN THE LESSER OF 20 PERCENT OF THE NET SALES PROCEEDS OR $30,000. THE BROKER SHALL PAY THE REMAINDER OF THE NET SALES PROCEEDS TO EPA WITHIN 30 DAYS OF THE CLOSING DATE OR AUCTION DATE.
IF THE BROKER FAILS TO SELL THE PROPERTY, EITHER BY ACCEPTANCE OF AN OFFER PURSUANT TO PARAGRAPH 13(a)(iv) OR AT PUBLIC AUCTION PURSUANT TO PARAGRAPH 13(a)(ii), THE U.S. SHALL BE ENTITLED TO ENFORCE OR EXECUTE ITS LIEN ON THE PROPERTY, THRU MEASURES INCL