SETTLEMENT AGREEMENT AND RELEASE 

This Settlement Agreement and Release ("Agreement") is made and entered into by and 

between The Federal Deposit Insurance Corporation, as receiver for NetBank, F,S.B. ("FDIC" or 

"Plaintiff’), on the one hand and Optimum Title, LLC ("Optimum" or "Defendant") on the other 

hand The FDIC and Optimum are referred to collectively as the ’Parties." 

RECITALS 

A. WHEREAS, the FDIC filed a lawsuit against Optimum entitled Federal Deposit 

lnsuiance Coiroralionas Receiver of NeWank F.S.B. v. Opiiinwn Title, LLG, in United States 

District Court, Middle District of Florida, Tampa Division, Case No.: 8:10-cv-01486-SDMMAP (the "Action"). 

B. WHEREAS, Optimum denies liability in the Action and for the damages alleged; 

C. WHEREAS, the Parties desire to resolve the FDIC’s claims against Optimum, 

and agree as follows: 

AGREEMENT AND MUTUAL RELEASE 

NOW, THEREFORE in consideration of the undertakings contained in this agreement, 

and other good, valuable and sufficient consideration, the sufficiency of which is hereby 

acknowledged, the Parties agree as follows: 

1. Preaiæblc, Recitals and Exhibits. The foregoing preamble and recitals are true and 

correct and are integral parts of this agreement. 

2. Settlement Payment by Optimum to FDIC. No later than thirty (30) business days 

following full execution of this Agreement, Defendant Optimum shall pay Plaintiff the amount 

of Fifty Thousand Dollars and No Cents $50,000.00). This settlement payment shall be made 

by sending a check payable to the "FDIC as rceiver for NetBank, FSB" Reference: Optimum 

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Settlement, to be delivered to Robert J. DeHenzel Jr., Counsel, Federal Deposit Insurance 

Corporation 3501 Fairfax Drive, VS-E-7002, Arlington, Virginia 22226. The payee’s Federal 

(b)(2),(b)(4) 

tax -ID number -i The Parties agree that timely payment of the settlement amount is 

an essential term of this agreement, and a condition to the effectiveness of this agreement. 

3 Dismissal of the Action. Together with the execution of this agreement, counsel 

for Plaintiff and Defendant shall execute a Stipulation of Dismissal of the Action against 

Optimum, with prejudice, Upon the receipt and clearing of the Settlement Payment, so that good 

and clear funds in the amount agreed to herein are actually received by Plaintiff, counsel for 

Plaintiff shall file the executed Stipulation of Dismissal with the Court. 

4. Court to Retain Jurisdiction. The Parties agree that the court shall have 

continuing jurisdiction to enforce the provisions of this Agreement to the fullest extent permitted 

by law, 

5. Release by Plaintiff. The FDIC hereby releases and forever discharges Optimum 

and its current and former employees, agents, sureties, bonding companies, insurers, attorneys, 

companies, successors, assigns and affiliates, of and from any and all claims, and demands of 

every kind and nature, in law, equity or otherwise, known and unknown, suspected and 

unsuspected, disclosed and undisclosed, for damages actual and consequential, attorneys’ fees 

and costs, past, present and future, arising out of the claims or causes of action set forth in the 

Action, except as expressly reserved in Paragraph 6, below. 

6. Express Reservations froii.. Release by Plaintiff. Notwithstanding any other 

provision contained herein, by this agreement, Plaintiff does not release, and expressly preserves 

fully and to the same extent as if the Agreement had not been executed (a) any claims or causes 

of action that do not arise from or relate to the facts, occurrences and transactions alleged in the 
Action, (b) any claims brought on behalf of another failed institution or another governmental 

entity, and that do not arise from or relate to the facts, occurrences and transactions alleged in the 

Action, or (c) any claims relating to the facts, occurrences and transactions alleged in the Action 

against any other person or entity not released in Paragraph 5, above. This agreement does not 

waive or release any claim Plaintiff may have relating to or arising from any loan oilier than the 

loan at issue in the Action. In addition, this agreement does not purport to waive, nor is it 

intended to waive, any claims which could be brought by the United States through either the 

Department of Justice, the United States Attorney’s Office, or any other federal department or 

agency, including any tights, if appropriate, to court ordered restitution pursuant to the relevant 

provisions of the Victim and Witness Protection Act, 18 U.S.C. § 363, et seq. 

7. Release by Defendant. Defendant hereby releases and forever discharges Plaintiff 

and its current and former officers, directors, employees, agents, insurers, attorneys, subsidiaries, 

predecessors, related companies, parent companies, successors, and assigns, and affiliates, of and 

from any and all claims, and demands of every kind and nature, in law, equity, or otherwise, 

known and unknown, suspected and unsuspected, disclosed and undisclosed, for damages actual 

and consequential, attorneys’ fees and costs, past, present and future, arising out of the claims set 

forth in the Action. 

S. Representations and Warranties. The Parties represent and warrant to and agree 

with each other as follows; 

a. FDIC owns and holds, and is the sole and exclusive owner and holder, of the 

claims which were or could have been asserted in the Action. 

b. FDIC and Optimum have the legal authority and capacity to enter into this 

Agreement and the persons signing this Agreement for FDIC and Optimum have 

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authority to execute it, Each Party or attorney whose signature is affixed hereto in 

a representative capacity represents and warrants that he or she is authorized to 

execute this agreement on behalf of and to bind the entity on whose behalf his or 

her signature is affixed and that he or she is acting in the scope of such agency 

and authority. Each Party specifically represents and warrants that no signatures 

other than those made on this Agreement are necessary to bind the Parties to all of 

the obligations imposed by the Agreement. 

c. Plaintiff and Defendant have received independent legal advice from attorneys of 

their choice with respect to the advisability of entering into this Agreement and of 

giving the releases provided herein. 

d. In connection with the execution of this Agreement and the making of the 

settlement provided for herein, no Party to this Agreement has relied upon any 

statement, representation or promise of any other Party not expressly contained 

herein. 

a, This Agreement is fully integrated and contains the entire agreement of the Parties 

hereto, There are no agreements or understandings between the Parties hereto 

relating to the matters and releases referred to in this Agreement other than as set 

forth in this Agreement, and this Agreement supersedes and replaces any and all 

prior negotiations and agreements between the Parties hereto, whether written or 

oral. 

f. Plaintiff and Defendant have made such investigation of the facts pertaining to the 

releases contained herein as they deem necessary. 

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g. The terms of this Agreement are contractual and are the result of negotiation 

among the Parties. Each Party has cooperated in the drafting and preparation of 

Us Agreement. Hence, in any construction to be made of this Agreement, the 

role of the Party in drafting and preparation of (he Agreement shall not be referred 

to in order to construe the Agreement against that Patty, and that canon of 

contractual interpretation shall not be applied. 

h. This Agreement has been carefully read by each of the Parties and the contents 

thereof are known and understood by each of the Parties. This Agreement is 

signed freely by each Party executing it. 

1. The Patties have not assigned or transferred any of their claims being released 

herein. 

9. Consideration. The consideration received in connection with this Agreenient is 

fair, adequate and substantial and consists only of the terms set forth in this Agreement. 

10. Modifications. This Agreemeirt may not be amended, canceled, revoked or 

otherwise modified except by written agreement subscribed by all of the Parties to be charged 

with such modification. 

Ii. Agreement Binding on Successors and Assigns. This Agreement shall be binding 

upon, and shall inure to the benefit of, the Parties hereto and their respective officers, directors, 

Joint venturers, partners, members, employees, agents, servants, heirs, administrators, executors, 

assignors, predecessors in interest, successors, representatives and assigns. 

12. Apiicable Law. This Agreement has been negotiated and exchanged in the State 

of Florida. As such, this Agreement and all matters relating thereto shall be governed by the 

laws of the State of Florida withunt regard to its principles of conflicts of law. In addition, in the 

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event of any disputes arising between the Parties out of this Agreement, the Patties agree that the 

exclusive venue in which all disputes shall be resolved shall be by way of an action filed in the 

United States District Court for the Middle District of Florida. 

13. Execution and Delivery Regithd - Effective Date. This instrument shall not be 

considered to be the Agreement(defined above) or an enforceable contract, nor shall it create 

any obligation whatsoever on the part of any or all of the Parties, nor shall it or any of its terms 

constitute an undertaking by any of the Patties unless and until the date on which counterparts of 

it have been signed by and exchanged amongst all Parties (via facsimile, e-mail or otherwise) 

(the "Effective Date"). Until the Effective Date, any Party who may already have signed and 

exchanged one or more counterparts of this agreement with other Parties shall have the right to 

revoke such signature. On the Effective Date, this instrument shall become the Agreement and 

shall become a binding and enforceable contract. 

14. Counterparts. This Agreement may be executed in one or more counterparts, each 

of which when executed and delivered shall be an original, and all of which when executed shall 

constitute one and the same instrument. Signatures on this Agreement, of any counterpart of this 

Agiecment, transmitted by facsimile machine or electronic mail in .pdf format shall have the 

same force and effect as original signatures, 

IS. Construction. Each of the masculine, feminine and neuter genders shall include 

the others. The singular shall include the plural and vice-versa, 

16. Severability. In the event any provision of this Agreement shall be held to be 

void, voidable or unenforceable, the remaining provisions shall remain in Rill force and effect 

17. Attorneys Fees and Costs. Plaintiff and Defendant each agree to pay their own 

costs, attorneys’ fees and expenses incurred in connection with the Action; the foregoing 

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notwithstanding, however, each party shall timely pay its obligations as due in the Action, 

Including without limitation 

18. Optimum paying all outstanding Plaintiff’s expert fees incurred during 

Optimum’s deposition of Plaintiffs two (2) experts, which is identified as follows; $998.07 to 

The Lynn Group, Inc. and $730.00 to Baxter, Baker, Sidle, Conn & Jones, PA. 

a) FDIC’s pro rata share of the cost of duplicating trial exhibits, which is 

$1,201.96. 

19,Captions- and Headings. The captions paragraph numbers and paragraph 

headings appearing in this Agreement are inserted only as a matter of convenience and in no way 

define, limit, construe or describe the scope or intent of this agreement, nor in any way affect this 

Agreement. 

20. Notices. Any notice required under this Agreement shall be in writing and shall 

be sent via both e-mail and either by (I) hand delivery or certified or registered mail, postage 

prepaid, with return receipt requested, or (ii) fax, with a conformed copy by US Mail, postage 

prepaid, and with such writing to be addressed to the Parties as follows: 

Person To Receive Notice Notification Information 

Defendant: 

Mr. Leland Wallace 

Optimum Title 

5260 State Road 64 

Bradenton, Florida 

With a copy to: Andrew Showen 

Attorney for Optimum 

1900 Summit Tower Blvd., Suite 500 

Orlando, Florida 32810 

(b)(4),(b)(6) 

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Person To Receive Notice Notification Information 

Plaintiff: Robert J. DeFlenzel, Jr. 

Counsel 

Federal Deposit Insurance Corporation 

3501 Fairfax Drive, VS-B-7002 

Arlington, Virginia 22226 

(103) 5622361 

With a copy to: 

William Rudow 

Rudow Law Group, LLC 

5603 Newbury Street 

Baltimore MI) ’M014 

(b)(4)(b)(6) 

Facsiiiii 

Email: IŁ 

The above addresses may be changed by any Party as to such Party by providing the other 

Parties notice of any address change in the same manner as is provided above, and which change 

shall be effective as to any Party upon receipt of written notice from the other Party. In the event 

that written notice, demand, or request is made as provided in this paragraph, that writing shall 

be deemed to have been received by the Party to whom it was addressed on the earliest of (1) the 

date that the notice was hand delivered, (ii) the date the notice was sent via facsimile (so long as 

a facsimile transmittal confirmation sheet is contemporaneously generated by the facsimile 

machine from which the transmission occurred), or (iii) three days after properly addressed 

notice was deposited with the U.S. Postal Service, applicable postage prepaid. 

21. Remedies, All Parties shall be entitled to all remedies available at law or in 

equity for any violation of this Agreement, including, but not limited to the remedy of specific 

performance. 

22. Further Assurances. The Parties shall execute such other documents as may be 

reasonably necessary to carry out the terms and conditions of this Agreement. 

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23. Survival. All warranties, representations, covenants, and agreements set forth 

herein shall survive the Effective Date. 

24. Compliance Dates, In the event that any date specified in this Agreement shall be 

on a Saturday, Sunday, or a holiday, then the date so specified shall be deemed to be the next 

business day following such date, and compliance by such business day hereunder shall not be 

deemed a default by either of the Parties under this Agreement. 

25. Waiver, The waiver by one Party of the performance of any covenant or 

condition herein shall not invalidate this Agreement, nor shall it be considered to be a waiver by 

such Party of any other covenant or condition or of any later instance of the previously waived 

covenant or condition. The waiver by any Parties of the time for performing any act shall not 

constitute a waiver at the time for performing any other act or an identical act required to be 

performed at a later time. 

26. Entire Agreement, This Agreement contains the complete agreement of the 

Parties concerning the subjects of this agreement and supersedes a11 prior drafts of this Agreement 

and all other prior agreements, promises, acknowledgements, representations and warranties, if 

any, that may have been made between or among the Parties concerning that subject of this 

agreement, whether in connection with the negotiation of this agreement or otherwise. This 

agreement has been the product of negotiation. The Parties have had the opportunity to obtain 

independent advice from counsel. Prior draft documents were prepared, exchanged and 

discussed by some or all of the Parties before finally reaching and entering into this agreement, 

In any number of instances, words used in prior drafts may have been changed or removed from 

the language ultimately agreed to in this Agreement. In the event of a dispute over the meaning 

of any of the provisions or requirements of this Agreement, the fact that other words may have 

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been used or deleted from earlier draft documents or provisions in such draft documents that 

were modified before being included herein, shall not be used 10 aid in the construction of the 

meaning and legal effect of this Agreement. This Agreement may not be modified or changed 

except by a written instrument executed by all of the Parties and ho rights under it may be 

waived except by a wilting signed by the waiving Party. No promises, representations, 

warranties, agreements or other understandings exist between the parties with respect to the 

subject matter of this agreement, and this agreement supersedes and discharges any and all prior 

promises, acknowledgements, representations, warranties, agreements or other understandings 

that existed or may have existed between the Parties. 

(b)(6) 

(b)(6) 

Dated: , , 2011 

APPROVED AS TO FORM: (b)(6) 

Dated: )c I < ,2011 

Robert J. 13efre-nzel,4F. I 

Authorized on behalf of The Federal Deposit 

Insurance Corporation, as receiver for Netl3ank, 

FS.R. 

B 

PLEASE INSERT______ 

Authorized on behalf of Optimum 

R i i dirw TRW runih 

-

James J.J/ebb T 

JWebbftitrani.corn 

2200 Suffrust International Center 

One SE Third Ave. 

Suite 2200 

Fax 

for =t

fluntitie Federal Deposit Insurance 

Corporation, as Receiver for Netl3ank, F.S.B. 

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