SETTLEMENT AGREEMENT ANn RELEASE 

"6--

This Settlement Agteement and Rd ea:se ("Agreemc.nt'') is made as of this 3Ci' .... day of 

April 2013, by thL Federal Deposit Insurance Corporation, as receiver of Hl!iven Tru:wBank 

r 1orida ( .. F'DIC-R"') and l?\!tcr 0. Larsen La.rsert)~ by and throu~h his. undersigned counsel 

( cotl.:ctively "the Part1cs"). 

.RECITALS 

WHERE..o\S. Haven Trust Baok. Florida {"FffBP' or ><Bank') w~s a State Chanered Non 

Member Commercial Ban k, the deposits of which were .insur-ed by the Fede.rai Deposit .Insurance 

rpor tion~ .and a wholly-owned subsidiary of H. Financial Florida) lrw ... a one bank holding 

WHEREAS~ Larren sero..~d as a director on ~ B~ .rd of Dire(;tt,:.rs of l·JTHF from 

Octobe.r I. 2007 to Octob.;r 5. 2009; a.n{i 

WHEREAS, on or about ptember 24.20 l 0. the Florida Oftice of Financial Regulation 

1hr Hf BF C"FPIC-R"). In accordance with i2 U.S,C. * l81.l(d), the DIC~R :succeeded ki ull 

right'i1. titles, po,v\!rs and privileges of the Bank, cl ~!ding those witb r..:spect to its assets; and 

WI IEREAS, the ~nk 's set~ bek>nging to th~ FDtC-R include any and all .ofthe i~ s 

arising fi·om th~ per orm~nce. non ~rf at~C(; ::.nd manner ofp~r hrm nce <.lftheir reSp\!ctivc 

functions~ duties and acts as din~ctQts, officern. and/or ~m lo ces of the nk ; and 

WHEREAS. on or about Sept{;mbi.:;r 24, 2010~ F!rst Southern Bank~ Bcca Raton, florida 

pursuant to a ::ha ~ .and As um on ~.\,greement with the C- ~ and 
WHHREAS, on December 3. 201 0, the fDlC·R sent a notice of potential drums. (••FDJC 

l~l ')_to L.arse-11 and other funner HTBF ofilccrs and directo."S detailing vmmgfut acts tbat 

th~·y, ~directors andior o·fficers of HTBF, might be·Hable fer by allegedly parrk:ipaling in, 

~rmltt· mg, · ana!oJ · -- .,. · h · 1r ct· • • l t' h · r:.d · ' t:lwng t<) ~nl pructJces t at were a egc j)' m orca.c 1 o t e1r lJ tt ;~u y 

ks~ were negligent and gn')ssiy negligent and that allegedly caused millions o-fdo!lars in 

WHEREAS, th~ Parties dct:m i1 in their beSt nt~re h to i!nlcr into thi:; /\grec,;menl t(') 

NOW. THEREFORE, in deratlon ofth•..; promises. i.mdertakingh. pa ments~ and 

dea:s~s 5tati:.:d herein, the sutrlckncy of which .consideratloo is l~r by acknowkdgw, \.he 

und(..'rsigned Pru1.ies tlgre~, each ''.:hh the other, as follows: 

S.EC"ffON I: Payment to .FDIC-.R. 

A. As an ~ntia ! cove.nant and cnndition1-o this m<:nt, on or eior~ ·~ uy 2, 

8 . Larsen shal! deliver h~ Settlcm.ent Payment of $50.00v tc 1h~ FDfC·R by direct 

wire <::~n fer l.o: 

AODHESS: Federal 1-i<::iln\.~ Loan Hank ofNew· York, New York 

Muin Office, 1 {} l Park Av nue, New Y'ork NY I 0178..0599, 2l2-

68l-6000 (TeL number)~ ::U:!-44 t-6890 (Fa.x numb~r) 

(b)( 4_) ~---...........,J~l.O.u.,oU+JNG ' I 

(b)(4) .................................. . .... ................... . 

FOR CREDIT TO~ FDIC National Uquidation Account. AC(.ount 

l ······HH. I OBI~ Haven Trust Bank Florida (FIN Hl29.3}~ roft~ssiona! Liubilily I ········ I ········ -----(h.).(A) 

Dl F Fnnd--·-Cor.m~r Gary Flshcr, 904-25-6-3734;, Peter M. C~sey~ 7{)3~5 1 6- 13 ~ 

cte cm: ~ uv~.:n T l'l1St 8an.k Florida (f'JN 10:!93) ?rofc.ssional Liability {371(10) 

DIF Fund. 

2 
C. Tfihc- FDIC·R do s nut. t: ~ tlw Settlement Pa:yment in fuli on or he fore th.;: 

dat(i t'l:~r in~d by sub!>~£ ion A alxwe. then the FDIC-R.. in its sole discretion. ~haJJ have lhe 

right to: 

. e\ tctld the period <Jf timt fot' payment, lnduding intct~ t accnting from the 

date id~ntified in subst>.Clion A above, through ~e dntc of payment in fuH at a rtm: 

c~ lcui d h1 ()cc:ordancc with :!6 U.S.C. §662 t(A)(1); 

2. at any time prior to receipt c:lfpnyment in full {ind ud ing uc nr~d interest), 

ded aN thi.'\ agreement null and void; 

3. at any tim\: ~'1or to retcipt of pu~mcnt itl full (including Ztccrued lmer~st . 

cn·fbr;:-t.· th is i\grcenKnr and. in such l;! nt. Larsen agre.es Ul jtiri~ ictkm in federal 

Dis!rict Court in the l\1id<i!e District of Florldt:i1 and io pay aH oft he FDlC~R~s tensonabf\: 

ut.tomey·s tb;s ;md CO·st:<> i:! pe nd d in \::rtforcing the tcrrns o f this Agrt..-em nt~ and/Qr 

4. st:ck any Nh~r rellef availabk to it In law \)r equity. 

SECTfON U ; Rele<4Sts. 

,\. }he DK~R s Rdeas~~ 

Effoct.ivc- upun r':ccipt <lfthe Sctt1crnent P:a~·men r. and ~pt as pnwhfi:d in SECT! ON 

I !I .C., th;;: f DJC -R. for rtjid f ~tnd its succe:>sors and assigns, hereby rdeases and dis..:;.harg:\:!'i 

La ~n and his r~sp~-ct vc repre~entativcs, at.tom,;;ys, heirs, ~c utor~, administnnors, ~uc~c~1 ~i~r;~ 

and 11 ign ~. n·om !irl)' and ;:i ll claims, demand::;. ohligat11.)tlS, damages~ actions,. and caust:S of 

\\Ction. din:"~ or indirect, in taw (H' in equitJ. bdonglng to th~ FDfCAR. h~th~r ~ :!1. \JC6 : •;;<;<.1i , 

assi . ('fr any tnher lp dty! that arise from m rdate to. the pertbnnatKie, no.np.erform.ancl;!.. or 

mnnner of performance of L,arsen· s functions. dm.rcs and actions s a Bank director. 

3 
Eft~l:.~t e ~imultancou sly with the rekfl.!)C in SECTtON H.A. aoove, Larsen. on behr.ifof 

the FDIC-R and its ._::mployccs, <.)meers, directors, agents. representativllls. attorn~ys. succe.ssors 

and !\Sig s, from an)' and ail claims. d~rmmds. obligatktn~! damages. actions, and CalJSC5 of 

~<:tkm~ direct or indire-.::t.. in ia"'' or in equity) that arise from or relate n~ rhe .Bank or to lh;;; 

incurred as the maker. ~ndorser Or ':!Utlrantor of anv vi'Omisscrv HOI.~ or inde te ne~;s n;.wab!e 1Jr - • " ~~>,; ,~ " 

;nvcd by them to fDJC-R. th<; nk ~ First Southern, other financial ns tutios1.~. or any ulher 

~rs n \'r n 1thy. indud1ng o~1t !i !t ~i on any claims acquired by FDlC-R a~ successor in 

interest t() ~:, Bunk nr any pl;lrson or l!ntiiy other Uun Bank; 

b. again.s:i any person on:intit)'. including but n'Jl lirr it~d 1<,, !bnncr 

!' as(~d by tht:. FDK>R in this Aqreement; ~nd 

2. <:~t wilhst."ltlding any oth<:r provision of this Agreement, nothing herdn 

limits~ waives. releases, diminh>hes or C(~rnpromi es the jurisdiction and au!hority oftht ft:deraf 

4 
f)i;!pO~ t ht~umnce Corporation in th<: c,•\.ercise onts ::~ uperv isury or regulatory authority tO 

lnstltute ~dm ni.?!i rat! vi! enforcement or othet procc:cdings ~t!ek ng removal, prohibition, civil 

pen~lties, re!>tltution ~ (lr otlv.:r relief it i;;; nutlmrized to ek ptn'sllilnt to its supcrvisol) nr 

reg.ulatory authority agains't. any pe!Son, induding rs n. 

d<:>i.!S not waive any daims whlch <'4)\f!d be brought by the Un t~ ta1es through the Department 

of Justice. th'i {..lnitcd Sta1~ Attorney's Oflke for .!Illy fedf.roJ judicial dil;trict, the United St~t~~ 

ur ~r\:'d n:.l't.itut.ion pursu~m tQ the rd evam provisions of the Vk tim and Witness rot~tion A,;L 

18 U.S.C. § 3663, et. seq., fap p~ia!c. 

SECTION lU: Waiver ofDh1dends uHf Procce.ds from Litiga tion. 

To the 'l.cn , if y. that Larsen l~ or was a \hareholder of .h~ Bank or its h.ol<Hng 

L~tr ut on upon resolution fth~ rec~iv{;rsh p ofth~ Bank or proceeds in any Htig!l.li()n rh.at ha.s 

en "- r ~ou d be brought agnlnst the Unit\:d ~ta.tcs b~scd 011 or arising vm ~ in whole or in 

fn and ~ Jn: and ell sw:.:h dividends. payments or other distributions, or pr ~. 

SECTION IV: Tcrmin~ io . 

5 
statute cflimitatio ~ or any th~r time-bast;d defcrtse with spt! ct to an)' rutd aU FDJC Cif'.ims 

that the FDK>R rrurr bril1g, c>e~pt that any and i!H cld~mses. .avaHable to Larseti as of .;.~ /,.late: of 

SECTJON \': Notic~s • 

.A ny n.otTces requirt:d h0retmder sh~H b~ sem by r~giswred mail. t1rs-t ci.ass, renn'n ri:~e1 t 

Pl.1~r M. sey 

c~)Uns-d, Prof~ .~ ll~t~l Liabilily t :nil 

Federui DeJ.X>5it lrmmmcc- Ccrp. 

3501 'S. Fairlitx Drive VS·B-7010 

Arl!wH,m, VA 2:!2.29 

(b )( -··· ( ........ ... ·.... ........ ] oo:>) s·r 5· ns3 

(b)(6.....,..__ fL·-_· _____ __.\ 

SECTION VJ: Othe-r Matte-rs. 

6 
by ai ! parri.;s to this Ag e.: nt. 

pov.:~.:r and authorily tD bind .such party to c~~c h a.nd ry provbion of this Ag.re~ment. hi ~ 

or rdicd on by any party concerning t"h\s Agrecmt:-nt and its e.xhibit.s other than tno c ntai ~d 

7 
This Agreemt' .. nt may not be ru.nend\.\:i Gt modified, nor may any c•f hs provisions be 

attorney(s) <lr other rept~S('ntati vc(s). 

F. SW¢~itk Rcprc~ tati~ l!>, W'!l.rrautie~ at)~ Qj_sc!flimer. 

The Partie:; expressly ackru::wledg.<; that. in determining to ~ttic ihe claims: rdea-;;ed 

herein,, tht! FDiC has reas.nn.ahly and justifiably rd ied up!."O the &~ .;;c r~ y of l1n.a l1c:iaJ inform<'ttit.:m 

d"l;! H:.:.rins and C\1nditions of this Agrc~:ment., including doing, or cuus.ini their agents and 

f.iJ.:.: tkm tequired under hi~ Agreement Such CO<.)petatiol'l .shall consist of: 

or Ct»tlt~~i, F..:quci>t~d by the FDlC:-R, as dc!crmined by th\: FDIC-tt i'n it.s ui~ Jbc,·etlon. without 

the necessity c f subpoena;. 
b. appe-aring as re:west~ct by the £C R ~tt rt;; r;n le timt~ and 

plac.;,;s !{)r tt. ;v .s regarding r..:l v:1. t Bank facts, as d~tem1i o\.+d by the FDIC-R if, its l~;: .· 

fcd;;ra! lav •• ot· in its absence. thz: lraema.J laws ot' ' State- of Florida. \\·ithout regard tt~ ~ 

Any legal :action brnr.rght to mfo ;;~ hi ~ re nt !~ ll be brought in the Cnitcd ar~s 

Di mi~:t Court forth~ Middle Dbll'kt ofFlorlda. 

1() thai nartv hv his. her or its . t ·· • v 

.lfany pmvision ofihi$ nt is hd d unenfor.ccabie.. thcn.i;uch provision wiit f.f 
fED;;;~ \: . D!::P.(i:)ft .fN~.t~R.'J~"C:E C()l{_Pi)-RAT!\!!\ . 

. :\ -~ lkc -.:i-. ~; f~~ H~<:ri Trasi Bac'Ui LFrid~ 

(b)( 6_)"---------~· "· .. -r-f: ·•r I -;. "··· , .. r ..;,, . ~ -·---,."' :•. ·r ·····-·- ... --------··--······-- ~ ( ""' ·····---·1·····-···········--------···--··· I :·;ii;~ .;: ······.l+ .:':~· .. ~:'<_ .... .;;\ ~' ·' u ; : .·. · . 

L---------------------------~ --------~ 

(b )(6) .................. -·-P<·;:. :· : ~-3~e>~::;~:rn .I .................. . - :i i::~ (O, Ll.!1icrJ ....... L.