Debt Settlement Agreement
THIS DEBT SETTLEMENT (this "Agreement") dated this day of
,
BETWEEN:
Digital fleet llc of 350 N Orleans St, Chicago, IL 60654, USA
(the "Releasor")
OF THE FIRST PART
AND
Digital fleet llc of 350 N Orleans St, Chicago, IL 60654, USA
(the "Releasee")
OF THE SECOND PART
IN CONSIDERATION OF the covenants and agreements contained in this Agreement and other good and valuable consideration, the receipt of which is hereby acknowledged, the parties to this Agreement agree as follows:
Consideration
1. In consideration of
, the receipt and sufficiency of which consideration is acknowledged, the Releasor releases and forever discharges the Releasee, its owners, directors, officers, employees, agents, assigns, legal representatives and successors from all manner of actions, causes of action, debts, accounts, bonds, contracts, claims and demands which have been or may be sustained as a consequence of the failure of the Releasee to repay in full the debt owed to the Releasor described below. Initials: Page 1 of 6 Details of Debt
2. It is acknowledged by the parties that the outstanding debt owed by the Releasee to the Releasor is the amount of $9,700.00 USD, remaining from the original debt amount of
$14,780.00 USD, owed to the Releasor since June 2, 2025. The debt arose from: Client payed more than the amount and this is returning amount back to client. Concurrent Release
3. The Releasor acknowledges that this Agreement is given with the express intention of effecting the extinguishment of certain obligations owed to the Releasor, and with the intention of binding the Releasor's spouse, heirs, executors, administrators, legal representatives and assigns.
Full and Final Settlement
4. For the above noted consideration, the parties to this Agreement agree not to make claim or take proceedings against any other person or corporation which might claim contribution or indemnity under the provisions of any statute or otherwise. 5. It is declared that the terms of this settlement are fully understood; that the amount or type of consideration stated is the sole consideration for this Agreement and that the sum is accepted voluntarily for the purpose of making a full and final compromise, adjustment and settlement of all claims for losses resulting or which may result from the above noted debt.
6. This Agreement is given in full knowledge that the consideration given, as noted above, is being accepted as full and final satisfaction of the full debt claim. 7. This Agreement contains the entire agreement between the parties to this settlement and the terms of this Agreement are contractual and not a mere recital. No Admission of Liability
8. It is agreed that the payment is not deemed to be an admission of liability on the part of the Releasee.
Initials: Page 2 of 6 Governing Law
9. This Agreement will be governed by and construed in accordance with the laws of the State of Illinois.
Termination of Legal Proceedings
10. This Agreement is also accepted by the Releasor in full and final satisfaction and settlement of any court proceedings with regard to the Dispute and all legal costs payable to the Releasor in connection with the court proceedings and the Releasor does hereby covenant, agree and represent that:
a. The Releasor shall forthwith wholly discontinue the court proceedings, and b. Neither the Releasor, nor anyone else to the Releasor's knowledge, has caused or will cause to be commenced any further legal proceedings against any person by reason of this Dispute, or by reason of any injuries, loss or damage the Releasor may have suffered, including proceedings against any person who has or might claim contribution or indemnity from the Releasor, and c. The Releasor has not, and will not hereafter make any assignment to any other person of any claim against the Releasee with respect to the Dispute. Initials: Page 3 of 6 IN WITNESS WHEREOF the Releasor and Releasee have duly affixed their signatures under hand and seal on this day of, .
Digital fleet llc
Digital fleet llc
Per:
(Seal)
Initials: Page 4 of 6 NOTARY ACKNOWLEDGMENT - RELEASOR
STATE OF ILLINOIS
COUNTY OF
I,, a Notary Public in and for said state, certify that Digital fleet llc, known to me (or satisfactorily proven) to be the person whose name is subscribed to the foregoing instrument, personally appeared before me on the day of,, and acknowledged to me that he/she signed and delivered the same as his/her free and voluntary act, for the uses and purposes therein set forth. (Notary Seal)
Notary Public
My commission expires:
Initials: Page 5 of 6
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NOTARY ACKNOWLEDGMENT - RELEASEE
STATE OF ILLINOIS
COUNTY OF
I,, a Notary Public in and for said state, certify that, known to me (or satisfactorily proven) to be the person whose name is subscribed to the foregoing instrument, personally appeared before me on the day of,, and acknowledged to me that he/she signed and delivered the same as his/her free and voluntary act, for the uses and purposes therein set forth. (Notary Seal)
Notary Public
My commission expires:
Initials: Page 6 of 6