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�: <br />��ij l" 19s3 <br />0 (y3J <br />CITY OF NEWPORT BEACH <br />OFFICE OF THE CITY MANAGER <br />January 10, 1983 <br />TO: MAYOR AND CITY COUNCIL <br />COUNCIL AGENDA ITEM F -2(e) <br />FROM: City Manager <br />SUBJECT: MEMORANDUM OF SETTLEMENT (ARMSTRONG AND MOBIL OIL COMPANY) <br />On December 13, 1982, the City Council adopted a <br />resolution approving a Memorandum of Settlement between the City <br />and Armstrong /Mobil Oil Company. The approved memorandum had <br />language that was not acceptable to Mr. Armstrong. While he had <br />approved of the concept for settlement, he had not had time to <br />read the actual memorandum before the Council action. Because <br />of his nonapproval of the accepted memorandum, a new memorandum <br />has been negotiated. The same concepts are present in the pro- <br />posed memorandum, but inasmuch as the language has changed it <br />is the opinion of the City Attorney that the Council reapprove <br />the memorandum. The following is provided by the memorandum. -- <br />1. That the City of Newport Beach will assume all <br />of its costs associated with both the eminent domain and the <br />contract action. <br />2. Armstrong and Mobil will assume all their costs <br />associated with both the eminent domain and the contract action. <br />3. Armstrong and Mobil shall grant to the City all <br />easements and rights that they have which are necessary for the <br />production of tidelands oil. <br />4. The City shall pay to Armstrong $226,507 (the <br />appraised value) as payment for the surface oil production equip- <br />ment ('pumps, pipes, etc.) to be conveyed by Armstrong to the <br />City. <br />5. Neither the City nor Armstrong /Mobil will appeal <br />the eminent domain and the contract court actions. <br />As indicated above, this memorandum contains all of <br />the essential elements as the original memorandum, but worded <br />in a different manner. Basically, the memorandum will settle <br />