STIPULATED JUDGMENT AND ORDER FOR ENTRY OF JUDGMENT Trial Date: 10/11/2012
UNDER SECTION 515 OF THE TARIFF ACT OF 1930 AND FOR DECLARATORY RELIEF
IT IS HEREBY STIPULATED between plaintiff CONCORD EXPRESS INC., a California corporation and defendant R2M2 INC., a New York corporation, by and through their respective attorneys of record:
1) That judgment in the amount of $119,166.28 is hereby entered against defendant R2M2 INC., a New York corporation ("Defendant") and in favor of plaintiff CONCORD EXPRESS INC., a California corporation ("Plaintiff");
2) That each party shall be responsible for its own attorneys' fees and costs of suit;
3) That within 30 days from October 11, 2012, Defendant shall pay $80,000 to the Trust Account of Cogswell Nakazawa & Chang, LLP to satisfy the judgment, and Plaintiff's attorney shall promptly inform Defendants' attorney, in writing, that said monies have been forwarded to the shipper, Niu Niu Garments Guangzhou Co., Ltd.;
4) That after the $80,000 payment is made by Defendant towards the judgment, the difference between $119,166.28 and $80,000 shall be forgiven and this judgment is deemed fully satisfied;
5) That Plaintiff, by and through its counsel, will file a full satisfaction of judgment after Defendant makes the $80,000 payment;
6) That each party shall waive the benefits provided by California Civil Code § 1542 concerning the subject of this action;
7) That after Defendant satisfies the judgment, Plaintiff shall accept the defense on behalf of Defendant, in the event any third party files a claim or lawsuit against Defendant relating to the subject of this action; and
8) That if it is proven that it is Plaintiff's omission or commission leading to any third party's claim or lawsuit against Defendant concerning the subject of this action after Defendant satisfies the judgment, Plaintiff shall have no defense to any claim or lawsuit by Defendant in that regard and will allow Defendant to claim Plaintiff's NVOCC bond.
DATED: November 5, 2012 COGSWELL NAKAZAWA & CHANG, LLP By: s/Peiwen Chang Peiwen Chang, Attorneys for Plaintiff CONCORD EXPRESS INC., a California corporation DATED: November 5, 2012 ALEXANDER KWOK-HO YU, ESQ. By: s/Alexander Kwok-Ho Yu Alexander Kwok-Ho Yu, Attorneys for Defendant R2M2 INC., a New York corporation
ORDER Based on the above stipulations between the parties, IT IS SO ORDERED. JUDGMENT IS THEREFORE ENTERED in favor of Plaintiff and against Defendant, pursuant to all the terms and conditions recited above.