EXHIBIT 10.6
MUTUAL RELEASE
AGREEMENT
THIS MUTUAL RELEASE AGREEMENT
(“Agreement”) is entered into on this December 13,
2005 between SRI/Surgical Express, Inc. f/k/a Sterile Recoveries,
Inc. (“SRI”) and Coastal Hillsborough Partners, LLP
(“Coastal”), individually and on behalf of their
agents, representatives and attorneys, who shall collectively be
referred to from time to time herein as the “Parties”
and who may individually be referred to from time to time as a
“Party,” as the context indicates.
WHEREAS the Parties are currently
engaged in a lawsuit pending in the Circuit Court of the Thirteenth
Judicial Circuit in and for Hillsborough County, Florida styled as
SRI/Surgical Express, Inc. f/k/a Sterile Recoveries, Inc. v.
Coastal Hillsborough Partners, LLP (Case No. 04-04193-H),
which shall hereinafter be referred to as the
“Litigation;”
WHEREAS the Parties agreed at a
Court ordered mediation held on October 14, 2005 to terms
settling all aspects of the Litigation as well as all other claims
and disputes existing between the Parties including, but not
limited to, all disputes related to the leased property that is the
subject of the Litigation located at 12425 Race Track Road, Tampa,
Florida, and which shall hereinafter be referred to as the
“Property;” and
WHEREAS, pursuant to the mediation
settlement and a Purchase and Sale Agreement dated
December 13, 2005 (the “Purchase Agreement”), SRI
is purchasing the Property from Coastal and this Agreement shall be
executed and effective as of the closing of the
conveyance.
NOW THEREFORE, in consideration of
the above recitals, the mutual covenants contained herein and other
good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged as in hand paid, the Parties,
intending to be legally bound, agree as follows:
1. The Parties acknowledge and agree
that the above recitals are true and correct and are a material
part hereof.
2. SRI, for itself and its
successors, assigns, representatives, personal representatives,
estates, partners, shareholders, subsidiaries, members, affiliates,
parent companies, related companies, predecessors, assignors,
assignees, principals, attorneys, employees, officers, directors
and agents of any and all kind (“SRI Releasing Party”),
does hereby, now and forever, fully and finally release, acquit and
discharge Coastal and its successors, assigns, partners, members,
representatives, attorneys, employees, former employees, present
and former officers, present and former directors, principals,
present and former shareholders, subsidiaries, affiliates, parent
companies, predecessors, assignors, assignees, predecessors,
tenants, related companies and agents of any and all kind
(“SRI Released Party”) from any and claims, damages,
demands, actions, liabilities, responsibilities, causes of action,
rents, covenants, suits, and any and all liability of any nature,
known and unknown which the SRI Releasing P
