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SETTLEMENTAND RELEASE AGREEMENT 

THIS SETTLEMENT AND RELEASE AGREEMENT ("Agreement") is madeand 

•entered into by and between the FDICas Conservatorof IndyMac Federal Bank, .FSB, locatedat 

888 East Walnut Street, Pasadena, CA 91 101 ("IndyMac"), and Paul E. Kalmar (''Kalmar").

IndyMac and Kalmarare sometimes referred to herein individuallyas the "Party"and 

collectively as tlre "Parties." 

RECITALS

WHEREAS, IndyMac has filed claims againSt Kalmar in the 11ctit.m: The 6.<'k allfi.ipo~lt 

1~tilice Corp(Jra/Wtt; ~ Conservator'of JmlyMac Federo.J.iJa~ .FSB y .. MichaeJ Gr~ene, id 

·aJ •• K.ing:O:runty S~qr CouitCase No •. 07:.2-3256(}..3 SEA related to his appt:ai~;it' of certain 

residential ~lemrte o~ated at 14ft . iAike· Stickney Drive·, Lynnwood, Washington c•ctai.ms")~ . . 

In oomiduadoo of the recitals listed ab<t~ the ~yen ants mtd prom.ises iu ~hls 

Agt~em.e:m~ afid fur other gnod an(i va:luahle consideration,. the receipt and sufficiency of ~bjch . 

are: here.~y ackooWledg~. flle ?artii3S .a_;r.ee as foiJows~ 

·1. lNCORPOM TION:QF REGITA~. The RBcitals·-are ineotpQramd herein by 

reference as· thoogh Mly.set (<nth h., · 

; 2. . MU1UAL.REWSE4 F~tfle sole amsideration of the &Wn of 17,500;0Q~ robe 

paid .. to JrtdyMac by Kalmar as set .forth e.l w. the ,Parties hereby rcleue each ·other from mty 

and all :cl~ms or damages whatsoever1 : including those for. contribution. in4emni.ty · nnd 

·suhrogati.oil, ~ted to -tb~ Claims. Witlilil five deys of ex:emrtiao.of this Agreement; Indy~~ 

ShalJ execute a:dismissal .ofits romj:daint with prejudice. 

3. P.AYMBNT A.ND TERM~ Of PAYMENt. Kalmar shall pay to !ndyMac a total 

:_6f $17~00 as pmyjded h~ 

3, 1. Within l S days of eucution oftbl.s Agrerolerit;.Kalmar will pay $2,500 to IndyMa~. 

·3.2. Kalmar·will pay the:remairim,g $15.,000 b~ce in 24 eq~ m\'>mhl:st n.<ttallment:~ of 

$625~00 \hlsUU~ Payffient!11) • . 

:3.3, The In.stallrtl.«tt.Payments shall be reoe.ived l,)y tbe firnt of every month. K.alrt:IM 

sluillrnake tbe fuSi such pa}'Inmt .on or-before ·February 15~. 2009. 

3.4, .A11.pa.yme:Dts under this ·agreement $aii be made by cl.leclc llayab!e to the LarkinS 

Ya~ ~ cli~t trust acco~· and truilled to: Christop'ber J~ Kayser. tarki.rls Vamtt:a 

:r..Le., ~ t ·s,V ~~Streel Suite '1 450, PortlAnd, Oregon 91212 • . 

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3.5. In. order to &eeure rulpayme,o.ts under t.his greemert~ I<.a.lnwrwiU ex«:Ute the 

;ttt~ahed de¢d f.~st ("Deed p(tnM.•') f(}t ~ lienefitoflndyMac.. 

3~ BYENT OF DEFAuLJ. Time-m of the .essence. with~~ Ka nar~s 

:pe.tfomiance .. ofhis obliga~ons under th~ A.~t . K$lat ~l be m:emed.m demultif.ne: 

faiis to :rnalw timely payment of My ofhis obligations. under this Agreement • . ~ .. ~!>' ,..,...y.,:'7' ............. ........ --...... - .... - .. - - ... -·"''l' ......... . '" .,. .... ,.,_ ..................... ............................. ,. 

4, . :b1 the eyenHbat:~ is in ~tO.fanynfhls obHgatiom 

under tfri~r agreement, IildyMac will provide ~r with wri.tfen, ·r¥mee o:fbiS ~efiiult. tftJre ·ddamt iS. not. Cuted·withm five days of the·date of ~ notioo, the wiire MJoUllt: owmg under .thls 

.Ag.reemerit wUi ~me m:nnedjately dile.md payable: to fudyMac ~ ltidyMac will have the 

·right to· pursae any and tdl· remedies. to oollect those. amQ\ll1t$ Wcludlng Without iil;n:itation the 

~es set:fbrth.in Hie Deed ~fTnist. ·umyMBC Siiall, be «Hilled to ~11~ attom~y fees ancl . 

. (;(ISm incnrred in ool!ectiono·reprdless of~er. it'institutes .foriruil lepl ~ to 

enforce its ·ri&ht · rop~}"fnent nnder this Agreement. IndyMac will.further be entitled.to· int~~st · 

:olf ftrim the' date of default' on the entire· rcinahrlng ri.npaid runount$·at a default inreroot mte of 

Q%, . 

5. LBGAL ADVICE: Th:e .. f. am~ acknowl~g~ that :tney baYe S()Ugl,\t :and o{ltaiile(\ 

· ndepend~t .lf!Sal a(lvi~ :tp tl:le extent they deemed ~tecessacyt prior to the eoceciltion o.fth.is .Agreement urther~~ P.arti~ w.led~ that they have reaii· ~ Aw.mneut in Us A 

~erstand Mty lrs consequences. aru~· ·agree..fteely and vQl.u:ntarilY \\1th.it$ eot:!~ts: prior ro ~ 

~eciti~~ this ~;etrt.. · · · 

· 6. BINntNG EFPEcr. This. Agreement shall b~ tli,nding upon $ld )nure to the 

~etlt oft1te es $ t11dr respective hei!s; teg~trepr.esentatives, successor,s and assi . 

Eacll. party heMo and the ~oos sign..ing below: w~ t11at the ~nmgningbefuw orrsucb 

:panyts bcllB.lfis authorized to do so and to 'bind such party to the. tern'\8 ~$is ~mn~l 

. 7. NO ADMisS:lQN Qf LIA§IIJTY. The parties adk;nowledge: that this settlenien.t. 

does riot represem·m ~ion <>f fault. 

'8. . $EOOLliTIONDF. OIS}!QIES, If$y di~t'< ati~~ roncerning the te.rms· of this . 

. greemen~ the Parties agree stew Ol,gan wUl arbitrate the diSp.ute and any decision· t~ndeted 

will be fillal· ·am1 b~ Qtl: the Parties. Attorney fees and. aU cost~ ot such arbitration shall be· 

!l"Ward~ to the.prevailing ~y. 

·g, CONSTRUQIIQH. The :f.arth.$ to 1his Agreement have had· the. opporlunity to 

read. ~te:. review and.present this ~t to tounsel of their own.cltoo.Sing and agree· 

·that a.tty nile t:jf <:OO.Strut#.on:to the effect·dnit anibigujties are to be resolved agfiitistthe drafting 

:Part.yt shaU ·o,e>t· apply to the mteipretmion ofthi.s Agr~ent thls A~ent ~~ be nstrued . 

. as a Whole.' in e wi.th.its fhlr meanW! arut ~ aceon:lim~ With the Ia~ ofttte United 

States of America. and to the eXfeJit that.state :law would ~lyli.Q4er· appliCable f~erallaw .the 

.sbite.ofWashfugton. Th~ laitguage of this Ag;teerrumt:slian not bt: ~ fur. or 11gair.st any ·par.tirular .Party. · 

.· .. 10. ~Nf.IDEN'JJALJIX. Ex~topon written wnsent:prlbe;;t®.~p~y. the part~~;S 

:a.n(ftheir CO~.,tn&el.sbalJ not:makej .iSs1lt; ime~ encom,age! permit or .authorize, issue~ furnish 

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··--v.· 

.information for~ romment upon, gossip m- pBrticipaJ.e ir,t an_y matmet b~ ~Y publi~ <tr private 

statement to. any person or. entity~ concerning the tctms of this. Agreen:u.mt, including the fact or 

amount of paymentl or the reaS6ns or the ~ances ooncerrJng the. parties' s:.."ttlemen.t of 

their ~l~ms, ~cept that ·too partie:s or thei' counsel may disclose S1.Wh to the partiest accountants 

in oormection.only with tax. preparation. Additionally. the parties and their counsel may disclose 

the terms of this Agteement to a court of COIIlpetent jurisdiction as necessary ro.enfo~e or 

administer this Agreement or.to comply with that oourt~s order. · 

t L SBPARATECOUNTERPARTS. This Agreeffienhnaybe eXecuted in one.or 

more counterparts, .each ofwhicb Shall be deemerl an Qriginal d~ent, and all ofwhich1 when 

taken to:gether, shali ~deemed to constitute a single. document Fax sigru£tures and 

electronically ~tted signatUres (for example: ·pdf file8) shaH ·oonstitute original signatures 

for the purpose ofthls Agreement . 

. JN WITNESS wHEREOF> the undersigned have ex~uted this Settlement and Rele~Se 

Agreement. · 

J(bfo11"""~ 

Dnt~:._..,._.,;;;O-ljoi~:;...,l,f...._. ~~.t)q_.,.... .L . . _,..·. ~-~-,_........-

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The Federal Deposit Insunuice Corpcratio~ 

as ConserVator for IndyMac Federal Bank . . . ~ 

.FSB.