SETTLEMENT AND RELEASE AGREEMENT 

This Settlement and Release Agreement ("Abrreemenf') 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 Attorneys Title Insurance Fund, Inc. ("Defendant"), (individually, the 

FDIC~R and Defendant may be rctcrrcd to herein as "Party" and collectively as the HParties"). 

RECITALS 

WHEREAS: 

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

organized and existing under the laws of the United States; 

On July 11, 2008, the Office of Thrift Supervision closed the Bank and pursuant to 

12 U.S.C. § 182l(c), the Federal Deposit Insurance Corporation was appointed Receiver. In 

accordance with 12 U.S.C. § 1821(d), the FDIC~R alleges it succeeded to all tights, titles, powers 

and privileges of the Bank, including those with respect to its assets. 

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

demands, ami causes of action that are the subject of this Agreement; 

On July 9, /.014, the FDIC-R filed a complaint tor money damages against Defendant and 

Law Office of Siam Joseph •. This claim for damages is now pending in the United States District 

Court for the Southern District of Florida in Federal Deposit Insurance Cmporation as Receiver 

jor JndyMac Bank. FS.B., v. Attorneys Title insurance Fund, Inc., et. al., Case Number 9:14-cv80915 ("Action"). Defendant has denied liability in the Action. 

The undersigned Parties deem it in their best interests to enter into this Agreement to 

avoid the wtccrtainty and expense of fmiher litigation. 

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

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

undersigned Parties agree, each with the other, as follows: 
SECTION I: Payment to FDIC~R . 

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

pay the FDIC-R the sum oftwo hundred thirty thousand dollars ($230,000.00) ("the Settlement 

Payment"), within thlrty (30) days ofthe execution of this Agreement. 

B. Defendant shall deliver the Settlement Payment to the FDIC-R by trust account 

check drawn upon a depository institution acceptable to FDIC-R and made payable to "FDIC as 

Receiver for IndyMac Bank, FSB" and delivered to Mortgage Recovery Law Group, 700 N. 

Brand Blvd. Suite 830, Glendale, California 91203. 

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

the F'DIC-R (or its counsel) by the date set forth in Section I.A, above, interest shall accrue on all 

unpaid amounts at the rate of 5% per annum 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 date(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 detem1incd by subsection A above, through the date of payment at a rate 

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

2. EnJ:orce 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 FDJC-R's reasonab.le attomey's fees and costs expended jn enforcing the terms of this 

Agreement; or 

3. Tenninatc the Agreement, move to vacate any disn1issal order, to which 

the Defendant agrees to consent, and re-institute an action on the PDIC-H.'s claims. The 

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Defendant further agrees to waive any defense based on any statute of limitations 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 otherwise unavailable as of the date this Agreement was fully executed; and/or 

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

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

acceptance 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 II: Stipulation and Dismiss~! 

Within ten business days after the latter of(l) full execution of this Agreement 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, executed by the attorneys for all Parties hereto, in the Action. 

SECTION III: Releases 

A. The FDIC-R's Releases. 

Upon receipt ofthc Scttlel.Jl~nt Payment in full and except as provided in Section III. 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 

ca11scs of action, direct or indirect, in law or in equity, belonging to the FDIC-R, that arise from 

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

B. The Dcfcnda.J?.!~S R~Je~~~! 

Effective simultaneously with the release granted in Section III.A. ahove, the Ddcndant, 

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

agents, representatives, attorneys, successors, and assigns, hereby rdeases and discharges the 

FDIC-R, and its employees, officers, directors, representatives, attorneys, successors and assigns, 

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from any and all c1aims, demands, obligations, 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 docs 

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 FDIC-R, the Dank, other financial institutions, or any other person 

or entity, including without limitation any such claims acquired by FOIC-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 FDJC-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 

jurisdiction 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 regulatory authority against any person. 

3. Notwithstanding any other provision of this Agreement, this Agreement 

does not purp011 to waive, or intend to waive, any claims that could be brought by the United 

States through the Department of Justice, the United States Attorney's Office for any federal 

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

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

pursuant to the relevant provisions ofthe Mandatory Victims Restitution Act, 18 U.S.C. §§ 332?. 

and 3663 ct. seq., if appropriate. 

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SECTION IV: Representations and Aclmowlcdgements 

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

they are Parties hereto or are 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 inure to the benefit of the 

tmdcrsigned 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 

consu]ted with and obtained the advice of counsel prior to executing this Agreement, and that 

this Agreement has been explained to that Pat1y by his or her counsel. 

Slt~CTION 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, delivery, execution, filing, recording, 

and entry, of any documents necessary to conclude the Action and to otherwise perforn1 the 

terms of this Agreement. 

SI!:CTlON 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 and defenses, that this Agreement is not an admission or evidence ofliability or infirmity 

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

received in evidence by or against any Party except to enforce its tern1s. 

B. Execution in Cotmte1:parts. This Agreement may be executed in cotmterparts by 

one or more of the Parties and all such counterpm·ts when so executed shall together constitute 

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

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

Parties subscribed thexcto upon the execution by all Parties to this Agreement. 

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

according to applicable f~derallaw, or in its absence, the laws of the State ofFlorida. 

D. Notices. Any notices required herem1der shall be sent by registered mail, first 

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

Ifto the FDIC~R: 

Paul A. Levin, Esq. 

Mortgage Recovery Law Group 

700 N. Bt·and Dlvd., Suite 830 

Glendale, California 91203 

(818) 630-7901 

If to the Defendant: 

Mario M. Ruiz, Esq. 

Cohen Rui1: P.A. 

201 S. Biscayne Blvd., Suite 850 

Miami, Florida 33131-2310 

(305) 702-3000 

E. Entire Agreement and Amendments. This A&rrecment constitutes the entire 

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

set forth herein and supersedes any prior agreements or understandings. This Agreement may 

nut be amended or modified, nor may any of its provisions be waived, except in writing signed 

by the I'arties bound thereby, m· by their respective authorized attorney(s), or other 

rcpresentati ve( s). 

1··. Titles and Captions. All section titles and captions contained in this Agreement 

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

G. No Confidentiality. The undersigned Pruties acknowledge that this Agreement 

shall not be confidtmtial and will be disclosed pursuant to the Federal Deposit Insurance 

Corporation's applicable policies, procedures, and other legal rcquiremcnL'l. 

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IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to he 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. 

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PRINT NAME: R \G\.d.~ s" ~~ tl 

AITORNEYS' TITLE INSURANCE PUND, INC. 

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DaJ.e: ?, )t o/t5 BY: 

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TITLE: I Ce-_ 

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