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STIPULATED SETTLEMENT AGREEMENT (KEYBANK)

US v. Cassini CR05-0166P - 1 -

UNITED STATES ATTORNEY

700 STEWART STREET, SUITE 5220

SEATTLE, WASHINGTON 98101-1271

(206) 553-7970

Judge Marsha J. Pechman

UNITED STATES DISTRICT COURT

WESTERN DISTRICT OF WASHINGTON

AT SEATTLE

UNITED STATES OF AMERICA, )

)

Plaintiff, ) Case No. CR05-166MJP

)

v. ) STIPULATED SETTLEMENT

) AGREEMENT TO AMEND PRELIMINARY

MICHAEL ALAN CASSINI, ) ORDER OF FORFEITURE TO RECOGNIZE

a/k/a Jeffrey Michael Leavitt ) CLAIM OF KEYBANK, USA, N.A. TO THE

) 2003 COBALT 293 BOAT, VIN #1142980,

Defendant. ) HIN #FGE29010J203 )

IT IS HEREBY STIPULATED by and between Plaintiff, United States of America, and

claimant, KeyBank USA, N.A. (“KeyBank”), by and through their undersigned counsel of

record, to settle according to the following terms:

1. The defendant’s interest in the following asset was forfeited to the United States of

America pursuant to the Preliminary Order of Forfeiture entered on July 28, 2005:

A. a 2003 Cobalt 293 boat, VIN #1142980, and HIN #FGE29010J203;

2. On or about September 14, 2005, KeyBank filed a Claim and Petition of

Lienholder for Ancillary Hearing regarding the above named vessel. The United States agrees to

recognize the petition of KeyBank, as having a valid security interest in the vessel, and to release

the vessel, including Twin 2003 Volvo Engines, Serial Numbers 4012085118 and 4012085120,

to KeyBank, except as specified in paragraph 3 below, in lieu of obtaining a final order of

forfeiture. KeyBank is the only petitioner in the ancillary proceeding in this case claiming a

secured interest in the vessel.

Case 2:05-cr-00166-MJP Document 77 Filed 02/08/06 Page 1 of 4
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STIPULATED SETTLEMENT AGREEMENT (KEYBANK)

US v. Cassini CR05-0166P - 2 -

UNITED STATES ATTORNEY

700 STEWART STREET, SUITE 5220

SEATTLE, WASHINGTON 98101-1271

(206) 553-7970

3. During the course of this prosecution the government has incurred expenses,

including storage costs through January 24, 2005, in the amount of $6,208.37 for the vessel. 

KeyBank agrees that the United States of America will be compensated for all costs incurred up

to the date of court approval of this stipulation; said costs to be paid by cashier’s check or

money order made payable to U.S. Marshal’s Service. Upon entry of the Order approving this

stipulation, the vessel and motors will be released to KeyBank at the place of storage, and

KeyBank will be responsible for picking up the said vessel and motors. 

4. KeyBank agrees that this stipulated agreement shall constitute full settlement and

satisfaction of any and all claims by KeyBank to the said vessel, and all claims resulting from

the incidents or circumstances giving rise to this lawsuit as pertains to the vessel.

5. The parties further agree that upon entry of the Order approving this stipulation

and release of the vessel to KeyBank by the U.S. Marshal Service, KeyBank shall be entitled to

physical possession, free of any claim of the United States. In addition, the United States has no

objection to the State of Washington Department of Licensing, upon proper application by

KeyBank, issuing title in the vessel to KeyBank without further Order of the United States

District Court.

6. Petitioner KeyBank agrees to release and hold harmless the United States, the

United States Department of Justice, the Federal Bureau of Investigation, the United States

Marshal’s Service, and any agents, servants, and employees of the United States acting in their

individual or official capacities, from any and all claims by KeyBank and its agents which

currently exist or which may arise as a result of the United States’ forfeiture action against

Defendant, Michael Cassini, and the seizure and forfeiture of the vessel.

7. The United States is agreeing to release the vessel to KeyBank under the terms of

this stipulation rather than forfeit the vessel, sell it and pay off the interest of KeyBank, because

it is projected that there will not be sufficient equity left in the vessel, after the lien is paid, to

forfeit to the United States. 

\\

\\

Case 2:05-cr-00166-MJP Document 77 Filed 02/08/06 Page 2 of 4
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STIPULATED SETTLEMENT AGREEMENT (KEYBANK)

US v. Cassini CR05-0166P - 3 -

UNITED STATES ATTORNEY

700 STEWART STREET, SUITE 5220

SEATTLE, WASHINGTON 98101-1271

(206) 553-7970

8. Petitioner KeyBank understands and agrees that by entering into this Stipulated

Settlement Agreement, KeyBank waives any rights to further litigate against the United States 

its interest in the above-listed asset.

Respectfully submitted,

JOHN McKAY

United States Attorney

 S/Richard E. Cohen 

RICHARD E. COHEN

Assistant United States Attorney

700 Stewart Street, Suite 5220

Seattle, Washington 98101-1271

206 553-2242; Fax: 206 553-6934

Richard.E.Cohen@usdoj.gov

 S/Paul V. Rieke 

PAUL V. RIEKE

Attorney for KeyBank USA, N.A.

3035 Island Crest Way

Mercer Island, WA 98040

206 275-1010; Fax: 206 236-1226

prieke@comcast.net

 S/Richard A. Karoly 

RICHARD A. KAROLY

Attorney for Charles Schwab & Co., Inc.

Charles Schwab & Co., Inc.

Office of Corporate Counsel 

101 Montgomery Street

San Francisco, CA 94104

415-636-3221; Fax: 415-636-5304

 S/Richard E. Cohen for 

ANNA E. JOHANSSON** 

CHARLES C. ROBINSON

Attorney for The Commerce Bank of 

Washington, N.A.

Garvey Schubert, Barer

1191 2nd Ave., 18th Floor

Seattle, WA 98101-2939

206-464-3939; Fax: 206-464-0125

Ajohansson@gsblaw.com

Crobinson@gsblaw.com

** Per Telephonic Authorization.

Case 2:05-cr-00166-MJP Document 77 Filed 02/08/06 Page 3 of 4
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STIPULATED SETTLEMENT AGREEMENT (KEYBANK)

US v. Cassini CR05-0166P - 4 -

UNITED STATES ATTORNEY

700 STEWART STREET, SUITE 5220

SEATTLE, WASHINGTON 98101-1271

(206) 553-7970

ORDER

This Stipulated Settlement Agreement is hereby approved.

DATED this _8th day of ___February________, 2006___.

AMarsha J. Pechman

U.S. District Judge

Presented by: 

 S/Richard E. Cohen 

RICHARD E. COHEN, WSBA #10688

Assistant United States Attorney

700 Stewart Street, Suite 5220

Seattle, Washington 98101-1271

206-553-2242; Fax: 206-553-6934

Richard.E.Cohen@usdoj.gov

 S/Paul V. Rieke 

PAUL V. RIEKE

Attorney for KeyBank USA, N.A.

3035 Island Crest Way

Mercer Island, WA 98040

206-275-1010: Fax: 206-236-1226

prieke@comcast.net

Case 2:05-cr-00166-MJP Document 77 Filed 02/08/06 Page 4 of 4