SETTLEMENT AGREEMENT This Settlement Agreement ("Agreement") is between Laurel, Inc., a United States Virgin Islands corporation ("Laurel, Inc"), and Virginia Mortara ("Mortara"), each referred to herein individually as a "Party" or collectively as the "Parties" as of the date last signed below ("effective date of this Agreement") to settle the matter pending before the Division of Administrative Hearings ("DOAH") ("DOAH Proceeding" or "Proceeding"), and for other good and valuable consideration, the sufficiency and validity of which is hereby acknowledged. The Parties agree as follows: 1. Background. a) On May 2, 2012, FDEP issued a Notice of Determination of Exemption (File No. 50-0311160-001) to Virginia Mortara for the construction of a 6' x 30' dock at 319 El Vedado Way, Palm Beach, FL. b) On January 4, 2013, Laurel, Inc., the owner of an abutting property at 358 El Brillo Way, Palm Beach, Florida, filed its Petition for Formal Administrative Hearing ("Petition") with the FDEP challenging issuance of the Notice of Determination of Exemption. c) The Petition has not been referred to DOAH. The case is currently being held in abeyance by the FDEP. 2. Settlement Actions Entry into this Agreement shall not constitute, shall not be a waiver of, and the Parties shall retain, any rights or actions available to the Parties, in law, in equity, or otherwise, whether arising before or after the effective date of this Agreement, except as expressly set forth herein. a) Modification of FDEP Notice of Determination of Exemption (50-0311160-001). Mortara agrees to include the following limiting conditions in the FDEP Notice of Determination of Exemption: i. No dock, pier, wharf, or mooring piling shall be built, installed, constructed, erected, permitted or allowed on or at the Restricted Parcel waterward of the existing seawall (mean high water line) except only a lateral wharf not more than six feet in width (north to south) and twenty feet