Marigold Development Corp. v. Marigold Development and Construction, Inc.

[SEC-SICD * CASE NO. 04-94-4755. October 4, 1994.] MARIGOLD DEVELOPMENT CORPORATION , petitioner , vs . MARIGOLD DEVELOPMENT AND CONSTRUCTION, INC. , respondent . DECISION Submitted by the parties, assisted by their respective counsels, is a "Compromise Agreement" dated August 18, 1994 for approval, the pertinent terms and conditions thereof are herein below quoted: dctai "1. In order to avoid any confusion to the public, the respondent, without necessarily admitting any fault on its part, hereby undertakes to amend, at its own expenses, its Articles of Incorporation by changing its corporate name from MARIGOLD DEVELOPMENT CONSTRUCTION, INC. to MARIGOLD HOMES, INC., within thirty (30) days from the execution of this Compromise Agreement. 2. Upon compliance with paragraph 1 above, the parties hereby waive any and all causes of action and/or counterclaims against each other and the parties shall bear their respective costs and expenses. 3. It is hereby understood that the judgment that will be rendered on the basis if this Compromise Agreement shall be immediately executory, and that any failure and/or refusal of the respondent to comply with the terms and conditions hereof shall entitle the petitioner for the issuance of a writ or execution." Finding the Compromise Agreement to be not contrary to law, morals, good customs, public order or public policy, the same is hereby approved and Decision is hereby rendered in accordance therewith. The parties are hereby directed to faithfully comply with the terms and conditions of the said Compromise Agreement from hereon. prLL SO ORDERED. (SGD.) ELPIDIO S. SALGADO Hearing Officer