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FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383
NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024
Exhibit D
FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383
NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024
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FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076
NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024
ESTEWART Please send all mail fo:
) Ones r y
LLP TROYOFFICE
28 SECOND
ATTORNEYS& COUNSELORS
AT LAW STREET
TROY, NY 12180
PHONE:(518) 274-5820
Direct Dial: (518) 270-1253
Email: Bneidl@joneshacker.com 200 HARBORSIDE
DRIVE, SUITE300
SCHENECTADY,NY12305 PHONE:
(518) 783-3843
511 BR OADWAY
SARATOGA
SPRINGS, NY 12866
PHONE:(518) 584-8886
February 23, 2024 41 STATESTREET, SUlTE 604-05
ALBANY,NY 12207
Via NYSCEF PHONE:(518) 486-8800
FAX: (518) 274-5875
Hon. Christi Acker, J.S.C.
Supreme Court, Dutchess County www.joneshacker.com
10 Market Street
Poughkeepsie, N.Y. 12601
Re: 323 Wall Street, LLC v. Rossin, et. al.
Index No. 2023-07122
Dear Judge Acker:
Enclosed is a fully executed Settlement Stipulation, which I respectfully present to be So
Ordered by the Court (the “So Ordered” line is on page 8). In §4 of the Settlement Stipulation, the
parties agreed to have the Stipulation “So Ordered.”
Simultaneously, I am filing a stand-alone copy of Exhibit B to the Settlement Stipulation
as a “Proposed Judgment” for the Court’s execution. Pursuant to §3 of the Settlement Stipulation,
the parties’ mutually consent to the entry of that judgment. If you have any questions do not
hesitate to contact me.
Sincerely,
E. STEWART JONES HACKER MURPHY, LLP
Benjamin F. Neidl, Esq.
c.c. Richard DuVall, Esq. (via NYSCEF)(e/enclosure)
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FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076
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SETTLEMENT STIPULATION
This Settlement Stipulation (the "Stipulation") is made by and among 323 WALL
STREET OWNERS, LLC, 3 Garden Street, Rhinebeck, N.Y. 12572 ("323 Wall"), BACKSTAGE
STUDIO PRODUCTIONS, INC., 21 Lund Court, Woodstock, N.Y. 12498 ("BSP"), Teri Rossin,
1717 N. Bayshore Drive, #3147, Miami, FL 33132 ("Rossin"), and Trevor Dunworth, 136 Saint
James Street, Kingston, N.Y. 12401 ("Dunworth").
1. DEFINITIONS As used in this Stipulation, the following tenns shall have the following
meanings:
Wall" Stipulation and
a. "323 means 323 Wall Street Owners, LLC, a party to this
the plaintiff in the Action.
"Action" Supreme Court in
b. means a civil action pending in the New York State
and for the County of Dutchess entitled 323 Wall Street Owners, LLC v. Backstage
Studio Terri Rossin and Trevor Index No. 2022-
Productions, 2nc., Dunworth,
50076.
"Appeal"
c. means an appeal filed in the NY S Supreme Court, Appellate Division,
Second Department, entitled 323 Wall Street Owners, LLC v. Terri Rossin, and
Trevor Dunworth, Case No. 2023-50374
"Assignment"
d. means the Assignment referenced in §6 of this Stipulation and
annexed as Exhibit C to this Stipulation, assigning the Insurance Policy and the
Insurance Claims from the Defendants to 323 Wall.
"BSP"
e. means Backstage Studio Productions, Inc, a party to this Stipulation and a
defendant in the Action.
Payment"
f. "Cash means the Twenty Thousand and 00/100 ($20,000.00) sum that
BSP will pay to 323 Wall, as provided for in §5 of this Agreement.
"Defendants"
g. means BSP, Rossin and Dunworth collectively.
"Dunworth"
h. means Trevor Dunworth, a Party to this Stipulation and a defendant
in the Action.
Date"
i. "Execution means the first date by which all of the Parties (as defined
herein) have signed their acknowledged signatures to this Stipulation.
Claims"
j. "Insurance means any claims for indemnity that any of the Defendants
made or could have made to any of the insurer(s) referenced in the Assignment,
1
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SETTLEMENT STIPULATION
This Settlement Stipulation (the "Stipulation") is made by and among 323 WALL
STREETOWNERS, LLC, 3 Garden Street, Rhinebeck,N.Y. 12572 ("323 Wall"), BACKSTAGE
STUDIO PRODUCTIONS, INC., 21 Lund Court, Woodstock, N.Y. 12498 ("BSP"), Teri Rossin,
1717 N. Bayshore Drive, #3147, Miami, FL 33132 ("Rossin"), and Trevor Dunworth, 136 Saint
James Street, Kingston, N.Y. 12401 ("Dunworth").
1. DEFINITIONS As used in this Stipulation, the following terms shall have the following
meanings:
Wall"
a. "323 means 323 Wall Street Owners, LLC, a party to this Stipulation and
the plaintiff in the Action.
"Action"
b. means a civil action pending in the New York State Supreme Court in
and for the County of Dutchess entitled 323 Wall Street Owners, LLC v. Backstage
Studio Terri Rossin and Trevor Index No. 2022-
Productions, Inc., Dunworth,
50076.
"Appeal"
c. means an appeal filed in the NYS Supreme Court, Appellate Division,
Second Department, entitled 323 Wall Street Owners, LLC v. Terri Rossin, and
Trevor Dunworth, Case No. 2023-50374
"Assignment"
d. means the Assignment referenced in §6 of this Stipulation and
annexed as Exhibit C to this Stipulation, assigning the Insurance Policy and the
Insurance Claims from the Defendants to 323 Wall.
"BSP"
e. means Backstage Studio Productions, Inc, a party to this Stipulation and a
defendant in the Action.
Payment"
f. "Cash means the Twenty Thousand and 00/100 ($20,000.00) sum that
BSP will pay to 323 Wall, as provided for in §5 of this Agreement.
"Defendants"
g. means BSP, Rossin and Dunworth collectively.
"Dunworth"
h. means Trevor Dunworth, a Party to this Stipulation and a defendant
in the Action.
Date"
i. "Execution means the first date by which all of the Parties (as defined
herein) have signed their acknowledged signatures to this Stipulation.
Claims"
J. "Insurance means any claims for indemnity that any of the Defendants
made or could have made to any of the insurer(s) referenced in the Assignment,
1
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pursuant to the Insurance Policy, arising from or relating to loss and/or damage of
or at the Premises.
Policy" a certain insurance issued Eastern Mutual
k. "Insurance means policy by
Insurance Company to BSP, having Policy ID of SMP143228.
"Judgment" the
1. means the judgment in the form annexed hereto as Exhibit B, that
Court will execute and enter per agreement of the parties, pursuant to §3 and §4
hereof.
"Parties" "Party." "Parties"
m. / The term refers collectively to 323 Wall, BSP, Teri
"Party."
Rossin and Trevor Dunworth, and each of those entities is individually a
"Premises" New
n. means 323 Wall Street, Kingston, York (parcel # 48.331-1-13),
including the commercial building erected thereon, and described by metes and
bounds in a Bargain and Sale Deed recorded in the Ulster County Clerk's Office on
January 30, 2018, at Volume 6261 of Deeds, Page 88, Instrument #2018-00001502.
"Rossin"
0. means Teri Rossin, a party to this Agreement and a defendant in the
Action.
Releasees"
p. "Rossin and Dunworth means the releasees defined by that term in §8
of this Agreement.
2. PURPOSE. The purpose of this Settlement Stipulation is to bring full and final closure to
the Action and the Appeal in the manner set forth herein. By this Settlement Stipulation, as more
particularly set forth below, BSP will concede liability, without admissions, and stipulate to the
entry of a judgment, and will pay the Cash Payment to 323 Wall, and 323 Wall will, in turn, fully
and completely release Dunworth and Rossin, and thereafter look solely to the insurance company
issuing the Policy for recovery, pursuant to the Assignment, and/or pursuant to N.Y. Insurance
Law §3420.
3. BSP'S CONSENT TO JUDGMENT. Defendants specifically deny that they caused
damage to the Premises intentionally, wantonly or willfully, but, without admission of any fault or
wrongdoing of any kind, in consideration of the promises, undertakings and consideration set forth
herein, for the purpose of resolving the Litigation, agree to permit entry of the Judgment in the
Action, in favor of 323 Wall and solely against BSP, in amount of One Million One Hundred
2
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pursuant to the Insurance Policy, from or relating to loss and/or damage of
arising
or at the Premises.
Policy" issued Eastern Mutual
k. "Insurance means a certain insurance policy by
Insurance Company to BSP, having Policy ID of SMP143228.
"Judgment" the
1. means the judgment in the form annexed hereto as Exhibit B, that
Court will execute and enter per agreement of the parties, pursuant to §3 and §4
hereof.
"Parties" "Party." "Parties"
m. / The term refers collectively to 323 Wall, BSP, Teri
"Party."
Rossin and Trevor Dunworth, and each of those entities is individually a
"Premises"
n. means 323 Wall Street, Kingston, New York (parcel # 48.331-1-13),
including the commercial building erected thereon, and described by metes and
bounds in a Bargain and Sale Deed recorded in the Ulster County Clerk's Office on
January 30, 2018, at Volume 6261 of Deeds, Page 88, Instrument #2018-00001502.
"Rossin" a party Agreement and
0. means Teri Rossin, to this a defendant in the
Action.
Releasees"
p. "Rossin and Dunworth means the releasees defined by that term in §8
of this Agreement.
2. PURPOSE. The purpose of this Settlement Stipulation is to bring full and final closure to
the Action and the Appeal in the manner set forth herein. By this Settlement Stipulation, as more
particularly set forth below, BSP will concede liability, without admissions, and stipulate to the
entry of a judgment, and will pay the Cash Payment to 323 Wall, and 323 Wall will in turn, fully
and completely release Dunworth and Rossin, and thereafter ter look solely to the insurance company
issuing the Policy for recovery, pursuant to the Assignment, and/or pursuant to N.Y. Insurance
Law §3420.
3. BSP'S CONSENT TO JUDGMENT. Defendants specifically deny that they caused
damage to the Premises intentionally, wantonly or willfully, but, without admission of any fault or
wrongdoing of any kind, in consideration ofthe promises, undertakings and consideration set forth
herein, for the purpose of resolving the Litigation, agree to permit entry of the Judgment in the
Action, in favor of 323 Wall and solely against BSP, in amount of One Million One Hundred
2
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Forty-Two Thousand Five Hundred One 80/100 Dollars ($1,142,501.80), in the form annexed
hereto as Exhibit B, based on 323 Wall's claimed damages listed in Exhibit A hereto.
4. COURT APPROVAL AND EXECUTION OF JUDMGENT. Within one (1) business
day after the Effective Date of this Agreement, counsel for 323 Wall will electronically file this
Stipulation to be so ordered by the Court, and submit the stipulated Judgment (Exhibit B) to be
Parties'
executed by the Court. The signatures on this Stipulation shall be deemed acceptance and
approval of all of its tenus, and a statement to the Court that said Parties approve of the Stipulation
being so ordered, and the Judgment being entered.
5. CASH PAYMENT. In consideration for 323 Wall's promises and undertakings and
releases made in this Settlement Stipulation, BSP shall pay 323 Wall the sum of Twenty Thousand
and 00/100 Dollars ($20,000.00) in United States currency (the "Cash Payment") within three
(3) days of the complete execution of this Stipulation. BSP shall deliver the Cash Payment to 323
Wall by wire transfer. Through counsel, 323 Wall will provide the Defendants with the bank and
account information necessary to effectuate the wire transfer of the Cash Payment. When the
Judgment is docketed, 323 Wall will also record with the Dutchess County Clerk a partial
satisfaction ofjudgment, crediting the judgment debtor with the payment of Twenty Thousand and
00/100 Dollars ($20,000.00). If BSP fails to make the Cash Payment, 323 Wall shall have the
right to terminate this agreement.
DEFENDANTS'
6. EXECUTION AND DELIVERY OF ASSIGNMENT TO 323
WALL. In consideration for 323 Wall's promises and undertakings made in this Settlement
Agreement, within one (1) business day of the Effective Date of this Agreement, the Defendant
BSP will execute the Assignment annexed hereto as Exhibit C and deliver it (in original) by Fed
Ex or other national carrier, to 323 Wall's attorney, Benjamin F. Neidl, Esq., E. Stewart Jones
3
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Forty-Two Thousand Five Hundred One 80/100 Dollars ($1,142,501.80), in the form annexed
hereto as Exhibit B, based on 323 Wall's claimed damages listed in Exhibit A hereto.
4. COURT APPROVAL AND EXECUTION OF JUDMGENT. Within one (1) business
after the Effective Date of this Agreement, counsel for 323 Wall will electronically file this
day
Stipulation to be so ordered by the Court, and submit the stipulated Judgment (Exhibit B) to be
Parties'
executed by the Court. The signatures on this Stipulation shall be deemed acceptance and
approval of all of its terms, and a statement to the Court that said Parties approve of the Stipulation
being so ordered, and the Judgment being entered.
5. CASH PAYMENT. In consideration for 323 Wall's promises and undertakings and
releases made in this Settlement Stipulation, BSP shall pay 323 Wall the sum of Twenty Thousand
and 00/100 Dollars ($20,000.00) in United States currency (the "Cash Payment") within three
(3) days of the complete execution of this Stipulation. BSP shall deliver the Cash Payment to 323
Wall by wire transfer. Through counsel, 323 Wall will provide the Defendants with the bank and
account information necessary to effectuate the wire transfer of the Cash Payment. When the
Judgment is docketed, 323 Wall will also record with the Dutchess County Clerk a partial
satisfaction ofjudgment, crediting the judgment debtor with the payment of Twenty Thousand and
00/100 Dollars ($20,000.00). If BSP fails to make the Cash Payment, 323 Wall shall have the
right to terminate this agreement.
DEFENDANTS'
6. EXECUTION AND DEL1VERY OF ASSIGNMENT TO 323
WALL. In consideration for 323 Wall's promises and undertakings made in this Settlement
Agreement, within one (1) business day of the Effective Date of this Agreement, the Defendant
BSP will execute the Assignment annexed hereto as Exhibit C and deliver it (in original) by Fed
Ex or other national carrier, to 323 Wall's attorney, Benjamin F. Neidl, Esq., E. Stewart Jones
3
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Hacker Murphy, LLP at 200 Harborside Drive, Suite 300, Schenectady, N.Y. 12305. The
Defendants recognize and acknowledge that the purpose of the Assignment is for the Defendants
to transfer all of their right, title and interest in the Insurance Policy and the Insurance Claims, if
any, to 323 Wall, and that 323 Wall's objective, as assignee, is to pursue recovery from the Eastern
Mutual Insurance for that portion of the losses claimed in the Action in excess of the Cash
Payment. Defendants make no warranty or representation to 323 Wall or anyone else about the
availability of coverage for the Claims or the viability of any claim under the Insurance Policy. If
any other further or different assignment document is reasonably necessary to permit 323 Wall to
assert its proposed claim under the Insurance Policy as Assignee, the parties agree to execute and
deliver such upon written reques
Preview
FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 Exhibit D FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 ESTEWART Please send all mail fo: ) Ones r y LLP TROYOFFICE 28 SECOND ATTORNEYS& COUNSELORS AT LAW STREET TROY, NY 12180 PHONE:(518) 274-5820 Direct Dial: (518) 270-1253 Email: Bneidl@joneshacker.com 200 HARBORSIDE DRIVE, SUITE300 SCHENECTADY,NY12305 PHONE: (518) 783-3843 511 BR OADWAY SARATOGA SPRINGS, NY 12866 PHONE:(518) 584-8886 February 23, 2024 41 STATESTREET, SUlTE 604-05 ALBANY,NY 12207 Via NYSCEF PHONE:(518) 486-8800 FAX: (518) 274-5875 Hon. Christi Acker, J.S.C. Supreme Court, Dutchess County www.joneshacker.com 10 Market Street Poughkeepsie, N.Y. 12601 Re: 323 Wall Street, LLC v. Rossin, et. al. Index No. 2023-07122 Dear Judge Acker: Enclosed is a fully executed Settlement Stipulation, which I respectfully present to be So Ordered by the Court (the “So Ordered” line is on page 8). In §4 of the Settlement Stipulation, the parties agreed to have the Stipulation “So Ordered.” Simultaneously, I am filing a stand-alone copy of Exhibit B to the Settlement Stipulation as a “Proposed Judgment” for the Court’s execution. Pursuant to §3 of the Settlement Stipulation, the parties’ mutually consent to the entry of that judgment. If you have any questions do not hesitate to contact me. Sincerely, E. STEWART JONES HACKER MURPHY, LLP Benjamin F. Neidl, Esq. c.c. Richard DuVall, Esq. (via NYSCEF)(e/enclosure) 1 of 38 FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 SETTLEMENT STIPULATION This Settlement Stipulation (the "Stipulation") is made by and among 323 WALL STREET OWNERS, LLC, 3 Garden Street, Rhinebeck, N.Y. 12572 ("323 Wall"), BACKSTAGE STUDIO PRODUCTIONS, INC., 21 Lund Court, Woodstock, N.Y. 12498 ("BSP"), Teri Rossin, 1717 N. Bayshore Drive, #3147, Miami, FL 33132 ("Rossin"), and Trevor Dunworth, 136 Saint James Street, Kingston, N.Y. 12401 ("Dunworth"). 1. DEFINITIONS As used in this Stipulation, the following tenns shall have the following meanings: Wall" Stipulation and a. "323 means 323 Wall Street Owners, LLC, a party to this the plaintiff in the Action. "Action" Supreme Court in b. means a civil action pending in the New York State and for the County of Dutchess entitled 323 Wall Street Owners, LLC v. Backstage Studio Terri Rossin and Trevor Index No. 2022- Productions, 2nc., Dunworth, 50076. "Appeal" c. means an appeal filed in the NY S Supreme Court, Appellate Division, Second Department, entitled 323 Wall Street Owners, LLC v. Terri Rossin, and Trevor Dunworth, Case No. 2023-50374 "Assignment" d. means the Assignment referenced in §6 of this Stipulation and annexed as Exhibit C to this Stipulation, assigning the Insurance Policy and the Insurance Claims from the Defendants to 323 Wall. "BSP" e. means Backstage Studio Productions, Inc, a party to this Stipulation and a defendant in the Action. Payment" f. "Cash means the Twenty Thousand and 00/100 ($20,000.00) sum that BSP will pay to 323 Wall, as provided for in §5 of this Agreement. "Defendants" g. means BSP, Rossin and Dunworth collectively. "Dunworth" h. means Trevor Dunworth, a Party to this Stipulation and a defendant in the Action. Date" i. "Execution means the first date by which all of the Parties (as defined herein) have signed their acknowledged signatures to this Stipulation. Claims" j. "Insurance means any claims for indemnity that any of the Defendants made or could have made to any of the insurer(s) referenced in the Assignment, 1 2 of 38 FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 SETTLEMENT STIPULATION This Settlement Stipulation (the "Stipulation") is made by and among 323 WALL STREETOWNERS, LLC, 3 Garden Street, Rhinebeck,N.Y. 12572 ("323 Wall"), BACKSTAGE STUDIO PRODUCTIONS, INC., 21 Lund Court, Woodstock, N.Y. 12498 ("BSP"), Teri Rossin, 1717 N. Bayshore Drive, #3147, Miami, FL 33132 ("Rossin"), and Trevor Dunworth, 136 Saint James Street, Kingston, N.Y. 12401 ("Dunworth"). 1. DEFINITIONS As used in this Stipulation, the following terms shall have the following meanings: Wall" a. "323 means 323 Wall Street Owners, LLC, a party to this Stipulation and the plaintiff in the Action. "Action" b. means a civil action pending in the New York State Supreme Court in and for the County of Dutchess entitled 323 Wall Street Owners, LLC v. Backstage Studio Terri Rossin and Trevor Index No. 2022- Productions, Inc., Dunworth, 50076. "Appeal" c. means an appeal filed in the NYS Supreme Court, Appellate Division, Second Department, entitled 323 Wall Street Owners, LLC v. Terri Rossin, and Trevor Dunworth, Case No. 2023-50374 "Assignment" d. means the Assignment referenced in §6 of this Stipulation and annexed as Exhibit C to this Stipulation, assigning the Insurance Policy and the Insurance Claims from the Defendants to 323 Wall. "BSP" e. means Backstage Studio Productions, Inc, a party to this Stipulation and a defendant in the Action. Payment" f. "Cash means the Twenty Thousand and 00/100 ($20,000.00) sum that BSP will pay to 323 Wall, as provided for in §5 of this Agreement. "Defendants" g. means BSP, Rossin and Dunworth collectively. "Dunworth" h. means Trevor Dunworth, a Party to this Stipulation and a defendant in the Action. Date" i. "Execution means the first date by which all of the Parties (as defined herein) have signed their acknowledged signatures to this Stipulation. Claims" J. "Insurance means any claims for indemnity that any of the Defendants made or could have made to any of the insurer(s) referenced in the Assignment, 1 3 of 38 FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 pursuant to the Insurance Policy, arising from or relating to loss and/or damage of or at the Premises. Policy" a certain insurance issued Eastern Mutual k. "Insurance means policy by Insurance Company to BSP, having Policy ID of SMP143228. "Judgment" the 1. means the judgment in the form annexed hereto as Exhibit B, that Court will execute and enter per agreement of the parties, pursuant to §3 and §4 hereof. "Parties" "Party." "Parties" m. / The term refers collectively to 323 Wall, BSP, Teri "Party." Rossin and Trevor Dunworth, and each of those entities is individually a "Premises" New n. means 323 Wall Street, Kingston, York (parcel # 48.331-1-13), including the commercial building erected thereon, and described by metes and bounds in a Bargain and Sale Deed recorded in the Ulster County Clerk's Office on January 30, 2018, at Volume 6261 of Deeds, Page 88, Instrument #2018-00001502. "Rossin" 0. means Teri Rossin, a party to this Agreement and a defendant in the Action. Releasees" p. "Rossin and Dunworth means the releasees defined by that term in §8 of this Agreement. 2. PURPOSE. The purpose of this Settlement Stipulation is to bring full and final closure to the Action and the Appeal in the manner set forth herein. By this Settlement Stipulation, as more particularly set forth below, BSP will concede liability, without admissions, and stipulate to the entry of a judgment, and will pay the Cash Payment to 323 Wall, and 323 Wall will, in turn, fully and completely release Dunworth and Rossin, and thereafter look solely to the insurance company issuing the Policy for recovery, pursuant to the Assignment, and/or pursuant to N.Y. Insurance Law §3420. 3. BSP'S CONSENT TO JUDGMENT. Defendants specifically deny that they caused damage to the Premises intentionally, wantonly or willfully, but, without admission of any fault or wrongdoing of any kind, in consideration of the promises, undertakings and consideration set forth herein, for the purpose of resolving the Litigation, agree to permit entry of the Judgment in the Action, in favor of 323 Wall and solely against BSP, in amount of One Million One Hundred 2 4 of 38 FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 pursuant to the Insurance Policy, from or relating to loss and/or damage of arising or at the Premises. Policy" issued Eastern Mutual k. "Insurance means a certain insurance policy by Insurance Company to BSP, having Policy ID of SMP143228. "Judgment" the 1. means the judgment in the form annexed hereto as Exhibit B, that Court will execute and enter per agreement of the parties, pursuant to §3 and §4 hereof. "Parties" "Party." "Parties" m. / The term refers collectively to 323 Wall, BSP, Teri "Party." Rossin and Trevor Dunworth, and each of those entities is individually a "Premises" n. means 323 Wall Street, Kingston, New York (parcel # 48.331-1-13), including the commercial building erected thereon, and described by metes and bounds in a Bargain and Sale Deed recorded in the Ulster County Clerk's Office on January 30, 2018, at Volume 6261 of Deeds, Page 88, Instrument #2018-00001502. "Rossin" a party Agreement and 0. means Teri Rossin, to this a defendant in the Action. Releasees" p. "Rossin and Dunworth means the releasees defined by that term in §8 of this Agreement. 2. PURPOSE. The purpose of this Settlement Stipulation is to bring full and final closure to the Action and the Appeal in the manner set forth herein. By this Settlement Stipulation, as more particularly set forth below, BSP will concede liability, without admissions, and stipulate to the entry of a judgment, and will pay the Cash Payment to 323 Wall, and 323 Wall will in turn, fully and completely release Dunworth and Rossin, and thereafter ter look solely to the insurance company issuing the Policy for recovery, pursuant to the Assignment, and/or pursuant to N.Y. Insurance Law §3420. 3. BSP'S CONSENT TO JUDGMENT. Defendants specifically deny that they caused damage to the Premises intentionally, wantonly or willfully, but, without admission of any fault or wrongdoing of any kind, in consideration ofthe promises, undertakings and consideration set forth herein, for the purpose of resolving the Litigation, agree to permit entry of the Judgment in the Action, in favor of 323 Wall and solely against BSP, in amount of One Million One Hundred 2 5 of 38 FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 Forty-Two Thousand Five Hundred One 80/100 Dollars ($1,142,501.80), in the form annexed hereto as Exhibit B, based on 323 Wall's claimed damages listed in Exhibit A hereto. 4. COURT APPROVAL AND EXECUTION OF JUDMGENT. Within one (1) business day after the Effective Date of this Agreement, counsel for 323 Wall will electronically file this Stipulation to be so ordered by the Court, and submit the stipulated Judgment (Exhibit B) to be Parties' executed by the Court. The signatures on this Stipulation shall be deemed acceptance and approval of all of its tenus, and a statement to the Court that said Parties approve of the Stipulation being so ordered, and the Judgment being entered. 5. CASH PAYMENT. In consideration for 323 Wall's promises and undertakings and releases made in this Settlement Stipulation, BSP shall pay 323 Wall the sum of Twenty Thousand and 00/100 Dollars ($20,000.00) in United States currency (the "Cash Payment") within three (3) days of the complete execution of this Stipulation. BSP shall deliver the Cash Payment to 323 Wall by wire transfer. Through counsel, 323 Wall will provide the Defendants with the bank and account information necessary to effectuate the wire transfer of the Cash Payment. When the Judgment is docketed, 323 Wall will also record with the Dutchess County Clerk a partial satisfaction ofjudgment, crediting the judgment debtor with the payment of Twenty Thousand and 00/100 Dollars ($20,000.00). If BSP fails to make the Cash Payment, 323 Wall shall have the right to terminate this agreement. DEFENDANTS' 6. EXECUTION AND DELIVERY OF ASSIGNMENT TO 323 WALL. In consideration for 323 Wall's promises and undertakings made in this Settlement Agreement, within one (1) business day of the Effective Date of this Agreement, the Defendant BSP will execute the Assignment annexed hereto as Exhibit C and deliver it (in original) by Fed Ex or other national carrier, to 323 Wall's attorney, Benjamin F. Neidl, Esq., E. Stewart Jones 3 6 of 38 FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 Forty-Two Thousand Five Hundred One 80/100 Dollars ($1,142,501.80), in the form annexed hereto as Exhibit B, based on 323 Wall's claimed damages listed in Exhibit A hereto. 4. COURT APPROVAL AND EXECUTION OF JUDMGENT. Within one (1) business after the Effective Date of this Agreement, counsel for 323 Wall will electronically file this day Stipulation to be so ordered by the Court, and submit the stipulated Judgment (Exhibit B) to be Parties' executed by the Court. The signatures on this Stipulation shall be deemed acceptance and approval of all of its terms, and a statement to the Court that said Parties approve of the Stipulation being so ordered, and the Judgment being entered. 5. CASH PAYMENT. In consideration for 323 Wall's promises and undertakings and releases made in this Settlement Stipulation, BSP shall pay 323 Wall the sum of Twenty Thousand and 00/100 Dollars ($20,000.00) in United States currency (the "Cash Payment") within three (3) days of the complete execution of this Stipulation. BSP shall deliver the Cash Payment to 323 Wall by wire transfer. Through counsel, 323 Wall will provide the Defendants with the bank and account information necessary to effectuate the wire transfer of the Cash Payment. When the Judgment is docketed, 323 Wall will also record with the Dutchess County Clerk a partial satisfaction ofjudgment, crediting the judgment debtor with the payment of Twenty Thousand and 00/100 Dollars ($20,000.00). If BSP fails to make the Cash Payment, 323 Wall shall have the right to terminate this agreement. DEFENDANTS' 6. EXECUTION AND DEL1VERY OF ASSIGNMENT TO 323 WALL. In consideration for 323 Wall's promises and undertakings made in this Settlement Agreement, within one (1) business day of the Effective Date of this Agreement, the Defendant BSP will execute the Assignment annexed hereto as Exhibit C and deliver it (in original) by Fed Ex or other national carrier, to 323 Wall's attorney, Benjamin F. Neidl, Esq., E. Stewart Jones 3 7 of 38 FILED: DUTCHESS COUNTY CLERK 06/10/2024 10:51 AM INDEX NO. 2024-52383 NYSCEF DOC. NO. 5 RECEIVED NYSCEF: 06/10/2024 . FILED: DUTCHESS COUNTY CLERK 02/23/2024 04:11 PM INDEX NO. 2022-50076 NYSCEF DOC. NO. 46 RECEIVED NYSCEF: 02/23/2024 Hacker Murphy, LLP at 200 Harborside Drive, Suite 300, Schenectady, N.Y. 12305. The Defendants recognize and acknowledge that the purpose of the Assignment is for the Defendants to transfer all of their right, title and interest in the Insurance Policy and the Insurance Claims, if any, to 323 Wall, and that 323 Wall's objective, as assignee, is to pursue recovery from the Eastern Mutual Insurance for that portion of the losses claimed in the Action in excess of the Cash Payment. Defendants make no warranty or representation to 323 Wall or anyone else about the availability of coverage for the Claims or the viability of any claim under the Insurance Policy. If any other further or different assignment document is reasonably necessary to permit 323 Wall to assert its proposed claim under the Insurance Policy as Assignee, the parties agree to execute and deliver such upon written reques