Settlement A
4/20/05
1) The parties to this agreement are the Black forest Soaring Society, Inc. (BFSS)
and Kelly AirPark Association, Inc. (KAP). This agreement is effective this date.
2) The KAP acknowledges the property rights of the BFSS to the same extent as all
other lot owners in KAP and BFSS shall continue its operations indefinitely, in
accordance with the Covenants. KAP shall not modify or add restrictions that will
restrict the historical use of BFSS.
3) BFSS agrees to abide by the terms and conditions of the Covenants in the same
ways as all other property owners and recognizes KAP authority to regulate the
operation of the airpark in accordance with the Covenants except KAP shall not
modify, change or add covenants that adversely affect or restrict the historical use
of BFSS.
4) The BFSS shall make payment of 75% of the actual maintenance costs of the
park, commencing on June 1, 2005. This shall not be retroactive to any
obligations prior to June 1, 2005.
5) BFSS shall have a standing member on the budget committee, and also a standing
member on the common area committee.
6) BFSS agrees to request of its property aviation insurance carrier that KAP be
added to its policy as an additional insured party.
7) The parties make no admissions of liability in reaching this agreement. This
agreement is made (here??) as a compromise of the dispute and to resolve all
issues in the litigation.
8) The parties shall agree to first submit any disputes to this agreement to mediation
upon notice of the same. If mediation proves unsuccessful, the parties agree to
binding arbitration with an arbitrator agreeable to the parties. The prevailing party
shall be entitled to recover from the losing party.
9) Maintenance costs are defined as reasonable and necessary cost to maintain the
taxiway and runway except overlay and insurance. Maintenance cost shall include
but not be limited to crack seal, seal coat, weeds, taxiway, runway and other
reasonable and necessary cost as defined in the covenants.
The next page is the signature page.