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RELEASE AND SETTLEM.ENT AGREEMENT 

This Release and Settlern{..'llt Agreement (hereinafter referred to as "Agreemenr) is 

entered into this 2~-Hpay of .l\v~ ).).$. \: , 2009, by and between tl1e federal DepOsit 

Insurance Corporation, as Receiver for IndyMac Federal Bank, FSB (hereinafter referred to as 

"FDIC'); Steven E. Good, Sr. and Good Residential Appraisals Home Inspections (hereinafter 

collectively referred to as "Good"); and Nonnan, Hubbard & Associates (hereinafter refened to 

as the "Nl!A''), with respect to the claims made in the case captioned Federal Deposit Insurance 

Corporation; as Conservatorfor bufylvfac Federal Bank, FSB v, Good Residential Appraisals 

Home Inspections, et al., United States District Court fi1r the \Vestem District of New York1 

Case No. 08-CV -6281 (hereinafter referred to as the ''Litigation"). 

RECITAI.S 

WHEREAS, TndyMac Bank, F.S.B ("Indy1Vfac") fimdcd a mortgage loan secured by the 

~~~(4)JI:>.) property.Iooatedat)L._. _____ ..... !Pittsford, New York (hereinafter referred to as the 

.. Property''). 

WHEREAS, NHA contracted with Good to perform an appraisal of the Property 

(hereinafter referred to as the ·~Appraisal"). 

WHEREAS, lndy1vfac asserted claims in the Litigation against Good and NHA based on 

the Appraisal; 

WHEREAS, FDIC is entitled to pursue the claims asserted in the Litigation by IndyMac 

and collect any recovery based on such claims; 

\\r'HEREAS, Good and NHA ex"Prcssly deny any liability relating to tho asserted claims in 

the Litigation; and 
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WHEREAS, to avoid any further expense of litigation, .FDIC, Good, and N!fA 

voluntarily enter into this Agreement. 

In consideration of the above and for such other good and valuable consideration, L~e 

sum and sufficiency of which is hereby acknowledged and based on the mutual promises and 

conditions contained herein, FDlC, Good, and NHA agree as follows: 

l. Recitals. The above Recitals are fncortJorated here]n by reference and made a 

part of this Agreement. 

2. Dismissal and Release. FDIC, through counsel, shall execute a Dismissal with 

·Prejudice and without costs or attorney's fees to any party regarding all claims asserted by 

lndyll!ac and continued by FDTC against Good and NHA. in the Litigation; and the parties shall 

release one another as follows. 

For and in. consideration of the terms and conditions of this Agreemelll, Good and NHA, 

their officers, directors, shareholders, insurers, employees, ov.mers, agents, affiliates, suc-cessors, 

estates, heirs, insurance carriers1 fiduciaries, and assigns, jointly and severally, do mutually agree 

to absolutely and unconditionally release each other from any and aU claims, demands, actions or 

causes of action, of whatever nature or description, known or unlalo\vn, now existing or hereafter 

acquired, and whether or not asserted in the Litigation, which Good and NHA had, has, claims to 

have, or may hereafter acquire against each other arising out of tbe facts and .circumstances 

alleged in the Litigation. 

For and in consideration of the payment of$90,000 (Ninety Thousand Dollars) io be paid 

immediately upon execution of this Agreement., and in consideration of the terms and conditions 

of this Agreement, FDIC, its officers, directors, shareholders, employees, agents, affiliates: 

successors, and assigns, jointly and severaUy, do absolutely and unconditionally release Good 

2 
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and NHA, their officers, directors, shareholders, insun .. 'Ts, employees, owners~ agents, affiliates, 

successors, estates, heirs, insurance caniers, fiduciaries, and assigns, jointly and severally, from 

any and all claims, demands, actions or causes of action, of whatever nature or description, 

known or unknown, now existing or hereafter acquired~ and whether or not asserted in the 

Litigation~ which FDTC had, has, claims to have, or may hereafter acquire against Good and/or 

NHA, arising out of the facts and circumstances alleged in the Litlgation. 

Nothing in this Dismissal and Release waives any claim, cause of action, or any rights to 

contribution or other claims held by FDIC, Good, andior NHA existing currently or arising in the 

future, against any other individual or entity not expressly released by this Agreement. 

3. Confidentiality. This Agreement and the implementation of any of its tetms arc 

and shall remain confidential except as provided by 12 U.S.C. Section 1821(s). The parties may 

only disclose the terms of this Agreement to related or affiJiated corporate entities, financial 

regulators, lending institutions, and to any other person or entity where disclosure is otherwise 

required by law. Other than as expressly provided for in this paragraph, this Agreement and the 

terms hereof shall .not be disclosed to any person or entity not a party to this Agreement unless so 

o.rdered by a court oflaw. 

4. Attorney~s Fees and Costs. Each party shall bear its o":n attorney's fees and 

costs with respect to the Litigation. 

5. Amendment. This Agreement may not be amended or modified at any time 

except by any instrument in writing executed by all of the parties hereto. 

6. Counterpart Execution. This Agreement may be executed m two or more 

counterparts, each of which shall be deemed an original, hut all ofwhich together shall constitute 

one in the same instrument. 

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7. Integrated Agreement. TI1is Agreement sets forth the entire understanding 

between the parties concerning the subject matter of this Agreement and incorporates all prior 

negotiations and understandings. There are no covenants, promises, agreements, conditions or 

understandings, either oral or written, between them relating to the subject matter of this 

Agreement other than those set forth herein. No representation or warranty has been made by or 

on behalf of any party to this Agreement (or any officer, director~ employee or agent thereof) to 

induce any other party to enter into this Agreement or to abide by or consummate any 

transactions contemplated by any tenns of this Agreement, except representations and warranties, 

if any, expressly set forth herein. If any portion of this Agreement is found to be unenforceable, 

the parties desire that all other portions that can be separated from the unenforceable portion or 

appropriately limited in scope shaH remain fully valid and enforceable. The parties also agree 

that, without receiving further consideration, they will sign and deliver such documents and do 

anything else that is reasonably necessary 1n the future to make the provisions of this Agreement 

effective. 

8. Authority. Each person signing this Agreement on beha)f of any entity warrants 

or represents that he/she has the full and complete authority to enter into this Agreement on 

behalf of that entity. 

IN WITNESS WHEREOF, the parties to this Agreement have executed this Agreement as 

of the date indicated by each party's signature. 

4 
Witnesses 

(b)(6) 

···········!.....___ -------JPage 5 

Federal Deposit Insurance Corporation} as 

Receiver for Indy Mac Federal Bank, FSB 

By:l '-________ ...... ! (~)(@) 

Printed Name: N~ JJdc-\. E~ e_d_ Name: fs\' e. \., .. ""H.\. S 1. c; \ ~ 

(b)(6) ····················!········ I Title: C 0 c 1 c.,t s., .. ( L. --------~--_J-: -;-;-------; Date: 7S - 2 Y. - :2 00~ .. > ~.:;. / -/;' ~ n~ / .1'/./_ ·"f:'"' 

Printed Name: /)M?tf f../'':-..(./'~v--e ~K ~ 

Witnesses 

Printed Name: _____ _ 

Printed Name:----------

Witnesses 

Printed Name: ______ _ 

Printed Name:-------·---

Witnesses 

Printed Name: _________ _ 

Printed Name:----------

5 

Steven E. Good, Sr, 

Date; 

Good Residential Appraisals Home 

Inspections 

By: 

Name; ----·---·---·-----·------ Tit1e: 

Date: 

Norman Hubbard & Associates 

By: 

Nrume: ______________ _ 

Title: 

Date: 
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Pri.nd Name:. _______ _ 

Printed N!Une! _______ _ 

Witn~es 

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. ~tedName:~r\\ · ~ f \~\x~ (\1-e ~ .. 

(b )(6) 

Wltnu&ea 

~~N~e: ______________ _ 

Printed Name: ~-- ---

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Federal Deposii Insurance Corporation. as 

~ver for lndyMac Federal~ FSB 

By: 

Name:----.......-- -- Title: 

Date: 

Steven B. Good. Sr. ,,-..... ·acnr 

·-- ~ (b)(6) 

Good Residential Appraisals Home 

Inspections r-----------··· ····- ··"~>----~ 

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Nonnan Hubbard & Associates 

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