Release of Claim

RELEASE OF CLAIMS

THIS RELEASE OF CLAIMS (the “Release”) is made as of this day of March, 2021 by
and between CAMELBACK SPRING TRAINING LLC, a Delaware limited liability company (“Releasor”),
and CITY OF GLENDALE, an Arizona municipal corporation (“Releasee”’).

RECITALS:

A. Releasor and the City of Phoenix (“Phoenix”) have entered into an Agreement for the
Purchase and Sale of City-Owned Property, pursuant to which Releasor has the right to purchase certain
real property known as Maricopa County Assessor Parcel Number 102-59-019 (the “Property”).

B. The Property is subject to that certain Drainage Easement dated August 2, 1990, and
recorded as Document No. 1990-0365462, Official Records of Maricopa County, Arizona (the “Official
Records”), which Drainage Easement benefits multiple adjacent property owners, including, without
limitation, Releasee.

Cc. In connection with Releasor’s acquisition and development of the Property, Releasor has
requested that Releasee agree to release its interest in the Drainage Easement pursuant to that certain
Release of Drainage Easement to be recorded in the Official Records concurrently with Releasor’s
acquisition of the Property.

D. In consideration for Releasee’s execution and delivery of the Release of Drainage
Easement, Releasor desires to release Releasee from any claims in connection therewith as provided in
this Release.

NOW, THEREFORE, in consideration of the foregoing Recitals and the mutual covenants and
agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Releasor and Releasee, intending to be legally bound, agree as follows:

l. Release of Claims. In consideration for Releasee’s execution and delivery of the Release
of Drainage Easement, Releasor hereby releases, remises, and forever discharges Releasee and its
officers, directors, employees, attorneys, successors, and assigns (the “Released Parties”) of, for, and from
all damage, loss, claims, demands, liabilities, obligations, actions and causes of action whatsoever
(collectively, ““Claims”) which Releasor may now have or claim to have against the Released Parties,
whether presently known or unknown, whether now accrued or hereafter arising, solely to the extent
caused by Releasee’s execution and delivery of the Release of Drainage Easement. The aforementioned
release shall become effective only upon Releasor’s acquisition of the Property. In the event Releasor
fails to acquire the Property, this Release shall be null and void and of no effect.

2. Entire Agreement. This Release constitutes the entire agreement between the parties with
respect to the subject matter of this Release, and there are no other covenants, agreements, promises,
terms, provisions, conditions, undertakings, or understandings, either oral or written, between them
concerning the subject matter of this Release. No subsequent agreement between the parties shall be
binding upon the parties unless it is in writing and signed by all of the parties or the party to be bound.

3. Severability. If any clause or provision of this Release is determined to be illegal,
invalid, or unenforceable under any present or future law by the final judgment of a court of competent
jurisdiction, such clause or provision shall be ineffective, but the remainder of this Release will not be
affected thereby.

17953568.3/045844.0002

4. Construction. The parties acknowledge that each party and its counsel have reviewed and
approved this Release and that the normal rule of construction to the effect that any ambiguities are to be
resolved against the drafting party shall not be employed in the interpretation of this Release or any
amendments or exhibits hereto.

5. Counterpart Execution. This Release may be executed in two or more counterparts, each
of which shall be deemed an original instrument and all of which combined shall constitute one and the
same instrument.

6. Successors and Assigns. All of the provisions of this Release shall be binding upon and
shall inure to the benefit of Releasor, Releasee, the Released Parties, and their respective successors and
assigns.

7. Applicable Law. This Release shall be governed by and construed in accordance with the
internal laws of the State of Arizona (without regard for its conflicts of law principles).

8. Waivers. No waiver of any of the provisions of this Release shall constitute a waiver of
any other provisions, whether or not similar, nor shall any waiver be a continuing waiver. Except as
expressly provided in this Release, no waiver shall be binding upon any party unless executed in writing
by the party to be bound. Either party may waive any provisions of this Release intended for its benefit;
provided, however, that such waiver shall in no way excuse the other party from the performance of any
of its other obligations under this Release.

9. Headings. Paragraph or other headings contained in this Release are for reference
purposes only and are not intended to affect in any way the meaning or interpretation of this Release.

[Signatures on the next page]

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IN WITNESS WHEREOF, this Release is executed as of the date first above written.
RELEASEE:
City OF GLENDALE, an Arizona municipal corporation

City Manager

By: Date

APPROVED AS TO FORM: ATTEST:

City Attorney City Clerk

RELEASOR:

CAMELBACK SPRING TRAINING, LLC

erton, President & General Manager

ae OA Date_Alemal & out

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