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GENERAL RELEASE 

A1~D SETTLEMENT AGREEMENT 

1. J>ARTIES 

The parties to this General Release and Settlement Agreement ("Agreement") are Federal 

Deposit Insurance Corporation as conservator oflndyMac Federal Bank F.S.B., fka lndyMac Bank, 

F.S.B. (''IndyMac"), on the one hand, and Mark Ryan and Forsythe Appraisals, LLC (collectively 

''Appraiser"), on the other hand, and hereinafter may be referred to collectively as the "Parties". 

2. RECITALS 

2.1 On or about October 15, 2007, Indy Mac filed a lawsuit entitled IndyMac Bank, FSB 

vs. Afark Ryan, Forsythe Appraisals, LLC, Nevada District Court Case No. 

A549938 ("Action"). 

2.2 Indy Mac claims that it relied on an appraisal report for property in funding two 

mmtgage loans and that Appraiser knew IndyMac's lenders would rely on the 

appraisal report in deciding whether or not to fund the two mortgage loans (Joan 

numbers I · · · ~in the amounts of$564,000.00 and $141,000.00, 

respectively. 

:?..3 Appraiser disputes Indy Mac's claims relating to the appraisal report and has refused 

to indemnify lndyMac for its alleged losses stating that the electronic signature on 

Appraiser's appraisal report was w1authorizcd and misappropriated. 

2.4 The Patties hereto have now agreed to resolve their dispute. 

3. AGREEMENT BETWEEN THE PARTIES 

72601~.1 

3.1 Appraiser agrees to pay the sum of Three Thousand Five Hundred Dollars 

($3,500.00) payable to lndyMac and Anderson, McPharlin & Conners LLP, its 

attorneys. The issuance of said draft is not, nor is it to be, constmed as an 

admission of liability, which are each and all uncertain, doubtful and disputed by 

Appraiser. 

3.2 Indy Mac does hereby fully release, acquit and discharge Appraiser, its insurers 

and all other persons, firms, associations and corporations interested and 

concerned, of and from all known and unkno'l'm claims, actions, administrative 

proceedings, causes of action and suits for damages, at law and in equity, filed or 

otherw·ise, including loss of compensation, profits, interest and use, services, Joss 

and diminishment of estate, costs and expenses, \vhich it now has or may 

hereafter acquire by reason of any loss of or damage to any properly right or 

rights arising out of the allegations in the Complaint entitled Indy Mac Bank, FSB 

vs. Mark Ryan, Forsythe Appraisals, LLC, Nevada District Court Case No. 

AS49938. 
Page 228 

3.3 Appraiser does hereby fully release, acquit and discharge Indy Mac, its insurers and 

all other persons, firms, associations and corporations interested and concerned, of 

and from all known and unknown claims, actions, administrative proceedings, 

causes of action and suits for damages, at law and in equity, filed or otherwise, 

including loss of compensation, profits, interest and use, services, loss and 

diminishment of estate, costs and expenses, which it now has or may hereaf1er 

acquire by reason of any Joss of or damage to any pro petty right or rights atising 

out of the allegations in the Complaint entitled lndy:Hac Bank, FSB ~·s. A,Jark Ryan, 

Forsythe Appraisal~·. LLC, Nevada District Court Case No. A549938. 

3.4 The Parties shall bear their own costs and attorneys' fees. 

3.5 The executiou and delivery of documents provided for herein is in 

consideration for the execution arid delivery of releases and other agreements 

contained in this Agreement. 

4. RELEA..~E AND WARRANTY 

726014 I 

4.1 For the consideration set forth in this Agreement. the receipt and adequacy of which 

is hereby acknowledged, the Parties to this Agreement, and each of them, do 

hereby release and forever discharge each other, and each of their associates, 

ovmers, stock-holders, predecessors, successors, heirs, spouses, executors, 

administrators, assigns, agents, insurers_, directors, officers .. partners, joint 

venturers, lawyers, and all persons acting by, through, under, or in c.oncert with 

them, or any of them, from any and all claims, demands, actions or causes of 

action, or obligations, liabilities, indebtedness, breaches of contract, breaches of 

duty, suits, liens, lawsuits, costs, or expenses of any nature whatsoever, known or 

unknown, fixed or contingent (except any agreements or claims arising directly 

from this Agreement), arising out of, based upon, or relating to ilie 

matte-rs/lawsuit/property referred to in the Recitals herein. 

4.2 The Parties do hereby covenant and agree that they will pursue no claim or cause of 

action against the other parties hereto, their successors, assigns, agents, 

insurers, employees, attorneys-at-law, or any of them, collectively or individually, 

for any type of relief that in any fashion involves or arises from the 

matters/lawsuit/property referred to in the Recitals herein, including prosecution 

thereof. 

4.3 Each of the Parties hereto represents and warrants to the other that each has full 

power, capacity, aud authority to enter into this Agreement, and that none of them 

has sold, as!:>igned, or in any manner transferred any claims which any of them ever 

had against the other to any third party, and that no other releases or settlements are 

necessary from any other person or entity to release and discharge completely the 

other patties from the claims specified above. 

4.4 It is the intention of the Parties in executing this Agreement that it shall be 

effective as a bar to each and every claim, demand, and cause of action above 

specified. Parties hereto expressly consent that the releases contained in this 

Agreement shall be given full force and effect according to the provisions of this 
Page 229 

Agreement, including those releases and provisions relating to unknown and 

unsuspected claims, demands, and causes of action of the Parties to this 

Agreement. 

4.5 As further consideration for the entry into this Agreement, the Parties, and each of 

them, warrant and represent that neither they, nor any corporation or entity in which 

they are an O'A11er, which is controlled by them, or in which they have an interest, 

intends to assert any claim or file any lawsuit against any other party to this 

Agreement. 

5. EXECUTION NOT AN ADMISSION 

By entering into this Agreement, no parly hereto admits that the claims of the other were or 

arc valid or meritorious. Each party hereto has in the past denied and C{)ntinues to deny the 

claims, assertions, allegations, and contentions of the others, and this Agreement and the 

underlying settlement are strictly for the pW])OSe of compromising disputes. 

6. ADVICE OF COUNSEL 

Each patty represents and warrants that, in agreeing to the terms of this Agreement, it has 

read the document, has had the document explained by counsel of its choice, is aware of the 

content and legal effect of the document, and is acting on the advice of counsel of its choice and 

not in reliance on any representation of the other parties to the Agreement, except as expressly set 

forth herein. 

7. CONFIDENTIALITY 

i2~014.1 

7.1 The Parties agree that they wHlnot respond to or in any way participate in or 

contribute to any public or private discussion, notice, or other publicity 

concerning, or in any way relating to the claims at issue herein, the actions and 

proceedings refened to above, the settlement of this dispute, execution of this 

Agreement, the terms hereof or the events preceding same. The Parties further 

agree not to publish or disseminate any non-public information or documents 

obtained by them in conjunction with the released matters including, without 

limitation thereto, any information or documents produced by or to him in 

discovery responses or filed with the court. The Parties hereby agree that 

disclosure of any infonnation in violation of the foregoing shall constitute and be 

treated a~ a material breach of this Agreement. 

7.2 Notwithstanding this confidentiality agreement, the terms and ex.istence of this 

Agreement may be communicated by the Parties to their attorneys, to their 

accow\tants in conjunction with the rendition of professional services, to the 

Franchise Tax Board, Internal Revenue Service, or any such other governmental 

agency as required by law, or to such other persons when required by legal process. 

Any disclosure as set forth above shall be accompanied by a disclosure of the 

existence of this confidentiality clause and a request that the party to whom 

disclosure is made not further disclose the information. 
Page 230 

8. MISCELLANEOUS 

8.1 Each of the Parties hereto agrees to execute and deliver to each of the other Parties 

hereto. all additional documents, instruments, and agreements, and to take such 

additional action as is reasonably required to implement the terms and conditions 

of this Agreement 

8.2 The Parties agree that the rights and obligations arising out of the Agreement, and 

each of its tenns, shall be assignable 1:md delegable, respectively, and shall inure to 

the benefit of and be binding upon the heirs, personal representatives, successors, 

and assigns of the Parties, and each of them. 

8.3 In any action at Jaw or in equily to enforce any of the provisions or rights tmder this 

Agreement., the prevailing pa.11y shall be entitled to recover from the unsuccessful 

party all costs, expenses, and reasonable attorneys' fees incurred by the prevailing 

party (including, without limitations, such costs, expenses, and fees on appeal) and, 

if such prevailing party shall recover judgment in any such action or proceeding, 

such cosl<; and expenses, including those of eKpert witnesses and attorneys' fees, 

shall be incli.1ded as a pmt of the judgment. 

8.4 This Agreement contains the entire Agreement and understanding concerning the 

subject matter herein and supersedes and replaces any prior negotiations and 

agreement between the Parties hereto or any other, either writte11 or oral, except as 

expressly provided herein. 

.. 
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Page 231 

8.5 This Agreement shall be interpreted under the lavvs of the State of Nevada, and shall 

be construed according to its fair meaning, and shall not be strictly consln1ed against 

any patty hereto. 

8.6 The Patties may execute duplicate originals of this Agreement, in counterparts, or of 

any documents they are required to sign or fumish hereunder. 

DATED: 4/9/0 ~----

DATED: ------· 

DATED: 

Approved as to Form and Content: 

DATED: Y.-'\-CfJ 

726014 I 

INDYMAC FEDERAL BANK 

By: I I 

hs: Vice Prbsident 

FORSYTHE APPRAISALS, LLC 

By: _____________ _ 

Its: 

MARK RYAN 

By: __________ _ 

Mark Ryan 

ANDERSON, McPHARLIN & CONNERS LLP 

B y:.L-~--,-----,.---,---,-____,..,----,-,---,--,-l-::--c:----r----, aniec . Ma hall, Nevada Bar_.-::N-"o'-'----,_____J 

Zachary T. Ball, Nevada BarN 

Attorneys for Federal Deposit Insurance 

Corporation as conservator oflndyMac 

Federal Bank F.S.B., flea IndyMac 

Bank, F.S.B. 

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