Page 4

3.5  Non-Admission/Non-Evidentiary, This Agreement represents a compromised
settlement of a disputed claim and is not and shall be construed as an admission of any issue of

fact or law or as an admission or adjudication of any liability or wrongdoing and shall not be
admissible in any other suit or proceeding.

3.6  Suecessors in Interest, Unless specifically stated otherwise in this Agreement,
this Agreement shall be binding upon and inure to the benefit of the parties and their respective
subsidiaries, divisions, predecessors, successors, officers, directors, employees, stockholders,
administrators, executors, heirs, trustees and beneficiaries. This Agreement is not assignable by
any Party without written consent of the other party.

3.7 Authority to Exeente, The Parties signing this Agroement warrant and represent
that they have the sole right and authority to settle, compromise and release all claims herein. The

Parties further represent and warrant to each other that they or the person signing this Agreement
on their behalf is over the age of eighteen (18), is of sound mind and otherwise competent to
execute this Agreement and has the authority to execute this Agreement.

3.8 Severability. Whenever possible, each provision of this Agreement will be
interpreted in such a manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law, such provision will
be ineffective only to the extent of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement.

IN WITNESS WHEREOF, the Parties state that they have read this Agreement, that
they understand its contents, that they are not relying upon any representations in executing this
Agreement not expressly set forth herein, and that they have hereunder set their hands freely and
voluntarily as of the dates here below.

Date: _
On behalf of Federal Deposit Insurance
Corporation as Reggiver for First National
Bank of Reval sce in interest to the
First Natio: ank of Arizona
(b)(6)
Date: 2. y en | N

Or SPORE 2 ugh Ri Riggs Realty,
L\4 ix. i

E (b)(8)
Date: a PLY, ‘4
TZ Lisa Fisher

(b)(6)



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

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Page 1
SETTLEMENT AGREEMENT AND RELEASE

This Settlement Agreement and Release (the “Agreement”) is entered into this

day of January 2011, by and between plaintiff Federal Deposit Insurance Corporation, as
Receiver for First National Bank of Nevada, as successor in interest to the First National Bank of
Arizona (“FDIC”) and defendants Century 21/Hugh-Riggs Realty, Inc, (“Century 21°) and Lisa
Fisher (“Fisher”) (collectively, the “Defendants”), in full settlement and release of all claims
arising out of the lawsuit captioned First National Bank of Arizona v. Rizwan Awwal, Century
21/Hugh-Riggs Realty, Ine., Lisa Fisher, Simply Stated LLC, Sunset Mortgage Co., LP, John
Does 1-5, and XYZ Corporations 1-5, Docket No.: GLO-1019-08, Superior Court of New Jersey,
Gloucester County, Law Division (the “Underlying Litigation”), as set forth more fully below.
These entities and individuals may hereinafter also be referred to individually or collectively as
“Party” and/or the “Parties.”

L. DEFINITIONS

11 “FDIC” shall mean Federal Deposit Insurance Corporation as Receiver for First
National Bank of Nevada as successor in interest to the First National Bank of Arizona and any
and all of its subsidiaries, predecessors, successors, related or affiliated partnerships or
corporations or other forms of business venture, assigns, divisions, parent corporations, officers,
directors, partners, general partners, limited partners, agents, distributors, employees,
stockholders (in their capacity as such), representatives, administrators, executors, heirs, trustees,
beneficiaries, insurers, attorneys, whether named or unnamed.

1.2 “Century 21” shall mean Century 21/Hugh-Riggs Realty, Inc., and any and all of
its subsidiaries, predecessors, successors, related or affiliated partnerships or corporations or
other forms of business venture, assigns, divisions, parent corporations, officers, directors,
partners, general partners, limited partners, agents, distributors, employees, stockholders (in their
capacity as such), representatives, administrators, executors, heirs, trustees, beneficiaries,
insurers, attorneys, whether named or unnamed.

1.3 “Fisher” shall mean Lisa Fisher, individually, and personally, as well as in her
official capacity as an employee, agent and/or representative of Century 21/Hugh-Riggs Realty,
along with her respective heirs, representatives, executors, administrators and beneficiaries.

TL RECITALS

21 WHEREAS, the Complaint initially filed by the First National Bank of Arizona
and subsequently assumed by the FDIC in the Underlying Litigation alleges Defendants are
liable to the FDIC based on various theories of fraud and/or negligence in connection with a
March 15, 2007 mortgage issued by First National Bank of Arizona, loan no.[___—..Jn the

amount of $457,900 (the “Loan”), to borrower Rizwan Awwal, for real property situated at LJ

[= _____] Turnersville, NJ 08012.

2.2 WHEREAS, by entering into this Agreement, the Parties now desire to avoid the
cost and uncertainty of further prosecution and defense of this matter, and by this Agreement

ie}


Page 2

resolve in good faith all claims among the Parties asserted or which could have been asserted in
the Underlying Litigation, without the necessity of trial and without admitting liability,
obligation, matter or thing whatsoever.

2.3 WHEREAS, while entering into this Agreement, Defendants deny any liability or
wrongdoing to FDIC in connection with the Loan.

NOW, THEREFORE, in consideration of the foregoing and promises and covenants
contained herein, the Parties specifically agree as follows:

WW, TERMS

a1 Release, For and in consideration of the payments and commitments set forth
herein to FDIC, the Parties fully and finally and forever release, acquit, waive, give up and
discharge one another from any and all claims, suits, damages and causes of action for
negligence, breach and fraud, along with any claims for fees and costs, which the Parties have
ever had, now have or may have in the future in account of arising out of the allegations as set
forth in the Complaint and Underlying Litigation, whether at law or in equity, whether under
State or Federal law or regulation, whether known or unknown, whether suspected or
unsuspected without limitation or restriction whatsoever.

3.2 Payment, Within twenty-one (21) days of Defendants receipt of the executed
Agreement from the FDIC, the Defendants shall pay to FDIC the sum of Twelve Thousand Five
Hundred Dollars ($12,500.00) in the form of a cashier's or certified check.

3.3 Dismissal. FDIC shall provide Defendants with a Stipulation of Dismissal with
Prejudice (“Stipulation”) along with the executed Agreement. Defendants shall hold the
Stipulation in escrow until the settlement funds have been forwarded to FDIC at which point
Defendants will file the Stipulation with the court.

3A Legal Representation/ Acceptance of Terms. In executing this Agreement, the
Parties acknowledge that they have consulted with and have had the advice and counsel of an
attorney of their choosing who is dually admitted to practice in the State of New Jersey, that they
are satisfied with the terms incorporated herein, that this Agreement represents a full and fair
settlement after independent investigation and without fraud, duress or undue influence, and that
they have obtained all of the facts necessary for them to make a fully informed decision to enter
into this Agreement. The Parties acknowledge that they have equal knowledge and bargaining
power in negotiating and executing this Agreement, that any rule of construction of contracts
resolving any ambiguities against the drafting party shall be inapplicable to this Agreement.
Furthermore, the Parties hereto acknowledge that the terms of this Agreement are contractual,
not a mere recital, and are the result of negotiations between the parties. This Agreement
contains the entire agreement and understanding between the parties concerning the subject
matter of this Agreement, and supersedes and replaces any and all prior, written or oral
negotiations, discussions, representations, proposed agreements and agreements, including any
supplements thereto, between the parties related to the subject matter of this Agreement.


(b)(6)

Page 3

3.5 Non-Admission/Non-Evidentiary, This Agreement represents a compromised
settlersent of a disputed claim and is not and shall be construed as an admission of any issue of
fact or law or ag an admission or adjudication of any liability or wrongdoing and shall not be
admissible in any other suit or proceeding.

3.6  Suevessors in Interest. Unless specifically stated otherwise in this Agreement,
this Agreement shall be binding upon and inure to the benefit of the parties and their respective
subsidiaries, divisions, predecessors, successors, officers, directors, employees, stockholders,
administrators, executors, heirs, trustees and beneficiaries. This Agreement is not assignable by
any Party without written consent of the other party.

3.7 Authority to Execute. The Parties signing this Agreement warrant and represent
that they have the sole right and authority to settle, compromise and release all claims herein. The
Parties further represent and warrant to each other that they or the person signing this Agreement
on their behalf is over the age of eighteen (18), is of sound mind and otherwise competent to
execute this Agreement and has the authority to execute this Agreement.

3.8 Severability, Whenever possible, each provision of this Agreement will be
interpreted in such a manner as to be effective and valid under applicable law, but ifany provision
of this Agreement is held to be prohibited by or invalid under applicable law, such provision will
be ineffective only ta the extent of such prohibition or invalidity, without invalidating the
remainder of such provision or the remaining provisions of this Agreement.

IN WITNESS WHEREOF, the Parties state that they have read this Agreement, that
they understand its contents, that they are not relying upon any representations in executing this
Agreement not expressly set forth herein, and that they have hereunder set their hands freely and
voluntarily as of the dates here below.

Date: &/ F/ dei}

On behaly of Federal Deposit Insurance
Corporation as Receiver for First National
Bank of Nevada as successor in interest to the
First National Bank of Arizona

Date: _

On behalf of Century 21/Hugh-Riggs Realty,
Inc.

Date:

Lisa Fisher

4453855