06-043, Dolphin Swim School
Rescission Aareement
and Mutual Release
The City of Cupertino (City), 10300 Torre Avenue, Cupertino, California
95014-3255 and Joseph He and Xiaohong Wang, and California Dolphin Swim
School, a California corporation (CDSS), P.O. Box 2835, Union City, CA 94587
agree as follows:
1. Consent to Rescission. The parties hereby consent and agree to
rescind that certain lease dated December 6, 2005 between them for the lease of
certain premises more specifically described as the swimming pool, men's and
women's locker rooms, mechanical room, storage/office area and related parking
located at 21111 Stevens Creek Boulevard in Cupertino, California.
2. Return of all Deposits. City will forthwith upon execution of this
Agreement return all deposits, in the amount of One Hundred Thirty-four
Thousand Five Hundred Dollars and no cents ($134,500) made by CDSS as
described in the lease, together with accrued interest at a rate equal to the
average interest earned by City with respect to its portfolio of investments.
3. Reimbursement of Costs Incurred by CDSS. City will forthwith
upon execution of this agreement reimburse CDSS the sum of Eight Thousand
Five Hundred Thirteen Dollars and Fifty-two Cents ($8,513.52)
which costs were incurred by CDSS in preparing to occupy the leased premises.
4. Surrender of Riahts. The parties mutually agree to forego all other
rights and benefits provided under the lease described above, as consideration
for the rescission of that lease.
5. Mutual Release of all Claims. Except as provided in this
agreement, each party releases the other from any and all rights, claims, and
actions that each may have or may have against the other arising out of the
above described lease.
6. Release of Unknown Claims. EACH PARTY ACKNOWLEDGES
AND AGREES THAT THIS RESCISSION AGREEMENT AND MUTUAL
RELEASE APPLIES TO ALL CLAIMS FOR INJURIES, DAMAGES, OR LOSSES
TO EACH PARTY OR EACH PARTY'S PROPERTY REAL OR PERSONAL
(WHETHER THOSE INJURIES, DAMAGES OR LOSSES ARE KNOWN OR
UNKNOWN, FORSEEN OR UNFORSEEN, PATENT OR LATENT) THAT EACH
MAY HAVE AGAINST THE OTHER, AND BOTH PARTIES WAIVE THE
APPLICATION OF CIVIL CODE SECTION 1542 TO THIS RELEASE.
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CITY OF CUPERTINO
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David W. Knapp, c~nager
ATTEST:
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CALIFORNIA DOLPHIN SWIM SCHOOL
BY:~
JOSEPH HE, President and Chairperson of the
Board of California Dolphin Swim School, a
California corporation
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XIAOHONG WANG; s an individu~,
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JOSEPH HE, as an individual
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