WHEREAS, Buyer’s Purchase Agreement and Deposit Receipt stated that the parcels
were being sold “AS IS, WHERE IS” without any warranty as to their use or condition
whatsoever and subject to all matters of record which may impact the use of the parcels;
WHEREAS, Buyer wishes to retain title to Parcel 83 and develop the property but has
incurred expenses, including purchase price, taxes, and engineering costs, and will incur
mitigation costs to address the asbestos;
WHEREAS, City is desirous of responsible development; and
WHEREAS, the parties desire to compromise, settle, buy complete peace from, and
terminate any and all known and unknown disputes, claims, controversies, demands, actions,
causes of action, and litigation as exist between them arising from or in any way related to the
transfer of title for Parcel 83 and the asbestos therein, and in order to avoid the risk, nuisance
time, and expense of any litigation.
NOW, THEREFORE, in consideration of the recitals stated above, which are hereby
incorporated into this Agreement and made a part hereof, and in consideration of the mutual
promises, covenants, agreements, representations and warranties contained herein, the receipt
and sufficiency of which are hereby acknowledged, it is agreed between the parties as follows:
1. Payment and Recording of Notice. City shall pay Buyer $83,081.81 within 10
businesses days of Buyer executing this Agreement. Buyer shall execute concurrently with this
Agreement, and the City shall cause to be recorded in the Hillsborough County Registry of
Deeds, a notice of asbestos substantially in the form attached hereto as Exhibit A.
2s General Release of Claims by the City of Nashua. In consideration of the mutual
promises, covenants, agreements, and representations contained herein, the City, on behalf of
itself and its officers, employees, officials, representatives, agents and assigns, fully release
Larry Kittle, and his successors, heirs and assigns, from all known and unknown claims, causes
of action, suits, litigation, demands, and obligations of every kind, including claims for damages,
attorneys’ fees and any other form of relief available at law or in equity, which the City has or
may have by means of any matter, cause, or thing whatsoever from the beginning of time to the
Effective Date of this Agreement. Without limiting the generality of the foregoing, this release
includes all matters arising out of or in connection with the transfer of title of Parcel 83 from the
beginning of time to the Effective Date of this Agreement, including, but not limited to any and
all claims which could have been set forth regarding asbestos on the parcel.
3. General Release of Claims by Larry Kittle. In consideration of payment
described in Paragraph 1 above, and the mutual promises, covenants, agreements, and
representations contained herein, Larry Kittle, on behalf of himself and his successors, heirs and
assigns, agents, and insurers, fully release the City and its officers, employees, officials,
representatives, agents and assigns, from all known and unknown claims, causes of action, suits,
litigation, demands, and obligations of every kind, including claims for damages, attorneys’ fees
and any other form of relief available at law or in equity, which Larry Kittle has or may have by
means of any matter, cause, or thing whatsoever from the beginning of time to the Effective Date
Environmental Indemnity and Release Agreement
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