9/5/2007 - SETTLEMENT AGREEMENT ISSUED (122(h)). SETTLING PARTY: RELIABLE EXPRESS, INC. PAYMENT OF RESPONSE COSTS: SALE OR AUCTION OF SITE PROPERTY: IN CONSIDERATION OF THE CONVENENT NOT TO SUE BY EPA, SETTLING PARTY HAS AGREED TO SELL OR AUCTION THE SITE PROPERTY AND TO PAY ALL NET SALES PROCEEDS TO EPA.
PAYMENT OF NET SALES PROCEEDS TO EPA: SETTLING PARTY SHALL USE IT BEST EFFORTS TO SELL THE SITE PROPERTY WITHIN 3 YRS. IN CONSIDERATION OF THE MUTUAL PROMISES AND CONENANTS CONTAINED IN THIS SETTLEMENT AGMT, SETTLING PARTY HAS COMMISSIONED AND PAID FOR THE AS CLEAN APPRAISAL. THE APPRAISED VALUE OF THE SITE IS $775,000. IF THE PROPERTY IS NOT SOLD WITHIN 3 YRS, SETTLING PARTY SHALL SELL THE PROPERTY AT A PUBLIC AUCTION.