SF.TTLEMENT AND RELEASE AGREEMENT 

This Settlement and Release Agreement ("Agreement") is made by, between, and among 

the following undersigned parties: 

The Plaintiff Federal Deposit Insurance Corporation as Receiver for IndyMac Bank, 

F.S.B. (''FDIC-R"), and Law Office of Siam Joseph, P.A. ("Defendant"), (individually, the 

FDIC-R and Defendant may be referred to herein as "Party" and collectively as the "Pru1ies"). 

RECITALS 

WHEREAS: 

Prior to July 11, 2008, IndyMac Bank, F.S.B. ("Bank") was a depository institution 

organized and existing W1der the laws ofthe United States; 

On July 11, 2008, the Office ofThrift Supervision closed the Dank and pursuant to 

12 U.S.C. § 1821(c), the Federal Deposit Insurance Corporation was appointe<.l Receiver. In 

accordance with 12 U.S.C. § 1821(d), the FD1C-R succeeded to all rights, titles, powers and 

privileges of the Bank, including those with respect to it'l assets. 

Among the assets to which the FDIC-R succeeded were certain of the Bank's claims, 

demands, and causes of action that arc the subject of this Agreement; 

On July 9, 2014, the FDIC-R filed a complaint for money damages against DeJ~ndunt and 

Attorneys' Title Insurance Fund, Inc. This claim for damages is now pending in 1he United 

States District Cowi for the Southern District of Florida in Federal Deposit Insurance 

Corpora/ion as Receive!'for Indyl11ac Ban"' F.S.B., v. Attorneys Title Insurance Fund, Inc., et. 

a/., Case Nmnbcr 9: 14-cv-80915 ("Action"). Defendant has denied liability in the Action. 

The undersigned Parties deem it in their best interests to t.'1lter into this Agreement to 

avoid the unce1tainty and expense of further litigation. 

NOW, THEREFORE, in consideration of the promises, undertakings, payments, and 

releases stated herein, the sufficiency of which consideration is hereby acknowledged, the 

undersigned Pa1tics agree, each with the other, as follows: 
SECTION 1: Payment to Ic'DICHR 

A. As an essential covenant and condition to this Agreement, the Defendant agrees to 

pay the FDIC-R the sum of twenty five thousand dollars ($25,000.00) ("the Settlement 

Payment"), within sixty (60) days ofthe execution of this Agreement. 

B. Defendant shall deliver the Settlement Payment to the FDIC-R by direct wire 

transfer into an account designated by FDIC-R by notice to the attorneys for the Defendant or by 

certified or cashier's check drawn upon a depository institution acceptable to FDIC-R and made 

payable to Mo1tgage Recovery Law Group Client Trust Account. 

In the event that any of the installments of the Settlement Payment are not delivered to 

the FDIC-R (or its counsel) by the date set fot1h in Section LA, ahove, interest shall accrue on all 

unpaid amounts at the rate of 5% per annwn from such due date until the date of payment. 

However, if said Settlement Funds are not delivered to the FDIC-R by the due date, as a result of 

the FDIC-R's failure to execute this Agreement, no interest shall accrue until five days after the 

FDIC-R executes the Agreement. 

C. If the FDIC-R does not receive the Settlement Payment in full on or before 

the datc(s) determined by subsection A above, then the FDIC-R, in its sole discretion, shall have 

the right at any time prior to receipt of the Settlement Payment in full (including all accrued 

interest) to: 

1. Extend the period of time for the Settlement Payment, including interest 

accruing from the date determined by subsection A above, through the date of payment ot a rate 

calculated in accordance with 26 U.S.C. § 6621 (a)(3); or 

2. Enforce this Agreement, in which event the Defendant agrees to 

jurisdiction in United States District Court in the Southern District of Florida and to pay all of 

the FDIC-R's reasonable attorney's fees and costs expended in enforcing the terms of this 

Agreement; or 

3. Terminate the Agreement, move to vacate uny dismissal order, to which 

the Defendant agrees to consent, and re-institute <m action on the FDIC-R's claims. The 

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Defendant fw1hcr agrees to waive any defense based on any statute oflimitations that would bar 

any of the FDIC-R's claims and waive all objections, defenses, claims or counterclaims, and 

covenant and agree not to assert any objections, defenses, claims or counterclaims that did not 

exist or were othe1wise unavailable as of the date this Agreement was fully executed; and/or 

4. Seek any other relief available to it in Jaw or equity. 

Any extension of time under Section I.C.l for delivery of the Settlement Payment or 

acceptimce of a portion of the Settlement Payment shall not prejudice the FDIC-R's rights to take 

any of the actions set forth in Section I.C.2 through I.C.4 at any time prior to receipt of 

Settlement Payment (including all accrued interest) in full. 

SECTION 11: Stipulation and Dismissal 

Within ten business days after the latter of(l) full execution ofthis Af,'Teement by all of 

the Parties, and (2) receipt of the Settlement Payment, in full, the FDIC-R shall file a stipulation 

of dismissal with prejudice of the Defendant, executed by the attorneys for all Parties hereto, in 

the Action. 

SEC'110N III: Releases 

A. 111c FDIC-R's Releases. 

Upon receipt of the Settlement Payment in full and except as provided in Section IJJ.C., 

the FDIC>R, for itself and its successors and assigns, hereby releases and discharges the 

Defendant and its respective heirs, executors, trustees, administrators, representatives, 

successors) and assigns, from any and all claims, demands, obligations, damages, actions, and 

causes of action, direct or indjrcct, in law or in equity, belonging to the FDIC-R, thal arise from 

or relate to the causes of action alleged in the Action. 

B. The Defendant's Release. 

Effective simultaneously with the release granted in Section III. A. above, the Defendant, 

on behalf of itself individually, and its respective heirs, executors, trustees, administrators, 

agents, representatiws, attorneys, successors, and assigns, hereby releases and discharges the 

FDlC-R, and its employees, officers, directors, representatives, altomeys, successors and assigns, 

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from any and all claims> demands> obJigations, damages, actions, and causes of action> direct or 

indirect> in law or in equity, that arise from or relate to the causes of action alleged in the Action. 

C. Exceptions from Releases by FDIC-R. 

1. Notwithstanding any other provision of this Agreement> the FDIC·R does 

not release, and expressly preserves fully and to the same extent as if this Agreement had not 

been executed, any claims or causes of action: 

a. Against the Defendant or any other person or entity for liability> if 

any, incurred as the maker, endorser or guarantor of any promissory note or indebtedness 

payable or owed by them to FDJC-R, the Bank, other fmancial institutions, or any other person 

or entity, including without limitation any such claims acquired by FDIC-R as successor in 

interest to the Bank or any person or entity other than Bank; and 

b. Against any person or entity not expressly released by the FDIC-R 

in this Agreement. 

2. Notwithstanding any other provision of this Agreement, nothing in this 

Agreement shall be construed or interpreted as limiting, waiving, releasing, or compromising the 

jmisdiction and authority of the Federal Deposit Insurance Corporation in the exercise of its 

supervisory or regulatory authority or to diminish its ability to institute administrative 

enforcement or other proceedings seeking removal, prohibition, or any other relief it is 

authorized to seek pursuant to its supervisory or regulat01y authority against any person. 

3. Notwithstanding <my other provi::don of this Agreement, this Agreement 

does not pw:port to waive, or jntcnd to waive, any claims that could be brought by the United 

States through the D~partment of Justice, the United States Attorney's Office for any federal 

judicial district, or any other department or agency ofthc United States as defined by 18 U.S.C. 

§ 6. In addition, the FDIC-R specifically reserves the right to seek court-ordered restitution 

pursuant to the relevant provisions of the Mandatory Victims Re::;titution Act, 18 U.S.C. §§ 3322 

and 3663 ~-t §.~q,_, if appropriate. 

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SECTION IV: Representations and Acknowledgements 

A. Authorized Signatories. All of the Wtdersigned persons represent and warrant that 

they are Parties hereto or arc authorized to sign this Agreement on behalf of the respective Party, 

and that they have the full power and authority to bind such Party to each and every provision of 

this Agreement. This Agreement shall be binding upon and inw·e to the benefit of the 

undersigned Parties and their respective heirs, executors, trustees, administrators, representatives, 

successors and assigns. 

B. Advice of Counsel. Each Party hereby acknowledges that he, she, or it has 

consulted with and obtained the advice of counsel prior to executing this Agreement, and that 

this Agreement has been explained to that Party by his or her counsel. 

SECTION V: Reasonable Cooperation 

A. The Parties agree to cooperate in good faith to effectuate all the terms and 

conditions of this Agreement, including doing, or causing their agents and attorneys to do, 

whatever is reasonably necessary to effectuate the signing, delive1y, execution, filing, recording, 

and entry, of any documents necessary to conclude the Action and to otherwise pelform the 

terms ofthis Agreement. 

SECTION VI: Other Matters 

A. No Admission of Liability. The undersigned Parties each acknowledge and agree 

that the matters set forth in this Agreement constitute the settlement and compromise of disputed 

claims und defenses, that this Agreement is not ~m admission or evidence of liability or intirmity 

by any of them regarding <my claim or defense, and that the Agreement shall not be oflcrcd or 

received in evidence by or against any Party except to enforce its terms. 

B. Execution in CQunterparts. This Agreement may be executed in cmmterparts by 

one or more of the Patties and all such counterparts when so executed shaJl together constitute 

the final Agreement, as if one document had been signed by all Pmtics; and each such 

counterpart, upon execution and delivery, shall be deemed a complete original, binding the 

Patties subscribed thereto upon the execution by all Purties to this Agreement. 

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C. Choice of Law. 'Ibis Agreement shall be interpreted, construed and enforced 

according to applicable federal law, or in its absence, the laws of the State of Florida. 

D. Notices. Any notices required herewtder shall be sent by registered mail, first 

class, return receipt requested, and by email, to the following: 

If to the FDIC-R: 

Paul A. Levin, Esq. 

Mortgage Recovery Law Group 

700 N. Brand Blvd., Suite 830 

Glendale, California 91203 

(818) 630-7901 

If to the Defendant: 

Marilyn I" Maloy 

Maloy Law Group, LLC 

540 NW 165 Street Road, Ste. 21 0 

Miami, Florida 33169 

(786) 483-7541 

E. Entire Agreement and Amendments. 'fbis Ag1·ccmcnt constitutes the entire 

agreement and understanding between <md among the undersigned Parties concerning the matters 

set forth herein and sup~;;rscdcs any prior agrt!ements or understandings. 1bis Agreement may 

not be amended or modifioo, nor may any of its provisions be waived, except in writing signed 

by the Parties bound thereby) or by tl1eir respective authorized attomey(s), or other 

rcprcscntativc(s). 

F. Titles and Captions. Al_l section tit1es and captions contained in this Agreement 

arc for convenience only and shall not atlcct the interpretation of this Agreement. 

G. No Confidentiality. The W1dersigncd Parties acknowledge that this Agreement 

shall not be confidential and wiJl be disclosed pursuant to the .Federal Deposit Insurance 

Corporation's applicable policies, procedme.s, and other legal requirements. 

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be executed 

by each of them or their duly authorized representatives on the dates hereinafter subscribed. 

FEDERAL DEPOSIT INSURANCE CORPORATION AS 

RECEIVER FOR INDYMAC BANK, F.S.B. 

(b)(6t ...... oate,3:l::z:'3~-n;-- - svd--- L 

TITLE: ___ C <:) u _lt-l $'Q.. { 

PRINT NAME:- ~ C..~«~ ~L. f\_ \~ \ ( 

LAW OFFICE OF SIAM JOSEPH, P.A 

(b)(6).._, .......... _ .......... .. .................................................................................... - ............................... . ................................................................................................................. 

nate: ~3 J t .r 

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