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No. 2007-55704 

INDYMAC BANK, FSB AND INDYMAC § 

BANK, FSB d/b/a CONSTRUCTION § 

LENDING CORPORATION OF § 

AMEruCA· § 

§ 

v § 

§ 

SOUTHERN TITLE INSURANCE CORP.; § 

RELUffiLETITLECON.WANY, § 

INTERNATIONALKELLEYGROUP, § 

LLC d/b/a KG MORTGAGE, PAC § 

APPRAISAL INC., MYRICK BEASLEY, § 

MARY ANN SOLIZ, KRYSTAL SOLIZ, § 

JESSICA MARTINEZ, KENDRICK DEAL§ 

STATE OF TEXAS 

COUNTY OF HARRIS 

§ 

§ 

§ 

IN TilE DISTRICT COURT OF 

HARRIS COUNTY, TEXAS 

21STH ruDICIALDISTRICT 

SETTLEMENT AGREEMENT AND RELEASE 

D The parties to this Settlement Agreement and Release are The Federal Deposit 

Insurance Corporation as Receiver for IndyMac Federal Bank, FSB ("IndyMac"), on the 

one hand, and Southern Title Insurance Corporation ("Southern Title"), on the other 

hand. 

Whereas, IndyMac brought suit in the above-styled cause against Southern Title, 

and asserted causes of action arising from a closing protection lett~r dated October 17, 

2005, issued by SOuthern Title. 

Whereas, IndyMac also asserted causes of action arising from alleged 

irregularities in the closing, which occurred at Escrow Associates of Texas, d/b/a Reliable 

Title Company on October 28, 20 . 
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Whereas, IndyMac also asserted causes of action based upon various tort theories, . 

arising from the closing on October 28, 2005. 

Whereas, Southern Title denied the allegations of IndyMac, and asserted various 

affirmative defenses. 

Whereas, the parties desire to settle and compromise the disputes listed above, as 

well as all other controversies underlying the above-styled cause. 

For and in consideration of the mutual promises and undertakings set forth herein, 

the parties agree as follows: 

1. Southern Title will pay $15,000.00 to the Locke Lord Bissell & Liddell, 

LLP Trust Account. 

2. IndyMac will dismiss with prejudice its action against Southern Title in 

the above-styled cause. 

For and in consideration of the payment of $15,000.00, and the other promises 

and undertakings of Southern Title, the receipt and sufficiency of which are hereby 

acknowledged, IndyMac, Plaintiff in the above-styled cause, does hereby fully and 

forever release, discharge, and acquit Southern Title, Defendant in the above-styled 

cause, together with its officers, directors, employees, agents, representatives, successors, 

and assigns, o~ from, and against any and all claims and eauses of action of whatsoever 

nature, known or unknown, contingent or absolute, direct or indirect, past, present, or 

future, heretofore or hereafter arising or accruing in any manner out of or in connection 

with the matters made the basis of the above-styled cause, and out of or in connection 

with the issuance of the October 17, 2005 closing protection letter related to Myrick 

Beasley, and out of or m connection Wlfli the closing at Reliable Title Company on 
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October 28, 2005, which actions arose on or before the date of execution of this 

Settlement Agreement and Release. 

For and in consideration of the promises and undertakings oflndyMac, the receipt 

and sufficiency of which are hereby acknowledged, Southern Title, Defendant in the 

above-styled cause, does hereby fully and forever release, discharge, and acquit IndyMac, 

Plaintiff in the above-styled cause, together with its officers, directors, shareholders, 

employees, agents, representatives, successors, and ~signs, of, from, and against any and 

·all claims and causes of action of whatsoever nature, known or unlrnown, contingent or 

absolute, direct or indirect, past, present, or future, heretofore or hereafter arising or 

accruing in any manner out of or in connection with the matters made the basis of the 

above-styled cause, and out of or in connection with the issuance of the October 17, 2005 

closing protection letter related to Myrick Beasley, and out of or in connection with the 

closing a,t Reliable Title Company on October 28, 2005, which transactions arose on or 

before the date of execution of this Settlement Agreement and Release. 

For and in the same consideration, IndyMac and Southern Title agree that they 

will file an Agreed Partial Take-Nothing Judgment in the above-styled cause, 

substantially in the form attached hereto as Exhibit "A", and incorporated herein. 

The parties agree that this Settlement Agreement and Release covers all claims 

and causes of action, which were asserted in the above-styled cause, as wells as all claims 

and causes of action, which in the exercise of diligence, might have been asserted, arising 

from the facts underlying the above-styled cause. 

The persons signing this Settlement Agreement and Release specifically 

represented to all other pwties that they have authority to sign on behalf of their 
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respective parties, and they acknowledge that all other parties are reliable on such 

representations. 

This agreement is governed by the laws of the state of Texas, and is performable 

in Harris County, Texas. 

IT IS EXPRESSLY AGREED by the parties that the execution and delivery of 

this instrument, and the payment of the consideration hereunder, are in no way an 

admission of liability or fault by any of the parties, but are a Settlement Agreement and 

Release of all claims made by the parties hereto against each other, by which such parties 

are forever buying their peace. 

SIGNED on the dates indicated. 
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D rick B. Carson 

Sate BarNo. 24001847 

LOCKE LORD BISSELL & LIDDELL 

LLP 

600 Travis, Suite 3400 

Houston. Texas 77002 

---[ . d - lir~~~~!;;)) 

Robert T. Mowrey 

State Bar No.I I - Jason L. San;=de=rs=---------, 

State Bar No.I 1-- -

Johnathan E. Collins 

Stat~ Bar No~ - u ~ _ 

LOCKE LORD BISSELL & LIDDELL 

LLP 

2200 Ross Avenue, Suite 2200 

. Dallas, Texas 75201 

I l

(felephone) 

···· · (felecopy) 

ATTORNEYS FOR THE FEDERAL 

DEPOSIT INSURANCE CORPORATION 

AS RECEIVER FOR INDYMAC 

FEDERAL BANK, FSB, PLAINTIFF 

MCCORMICK HANCOCK & NEWTON 

By: I ·lu 

Date: De e.l.W.Ju- 11 _ ;;L 0 tY 1 

~~--- 1900 West Loop South, Suite 700 

Houston. Texas 77027 

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ATTORNEYS FOR SOUTHERN TITLE 

INSURANCE CORPORATION, 

DEFENDANT 

R:\datal\lem\south\indy'qllcadingsiSettlementAgreement and Release· Final 

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