) ) ) THESE MATTERS are before the court based on the parties announcing to the court that

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1 STATE OF SOUTH CAROLINA COUNTY OF HORR Y Carolyn Montgomery, Plaintiff, vs. The Town of Atlantic Beach, Defendant. STATE OF SOUTH CAROLINA COUNTY OF HORRY Tyson Beach Group, LLC, Plaintiff, vs. The Town of Atlantic Beach, Defendant. IN THE COURT OF COMMON PLEAS FIFTEENTH JUDICIAL CIRCUIT CIVIL ACTION NO: 2008-CP CONSENT ORDER OF SETTLEMENT IN THE COURT OF COMMON PLEAS FIFTEENTH JUDICIAL CIRCUIT CIVIL ACTION NO: 2010-CP R ", c:::> r- --:T'. C"'> ~ -*,". 3:,..., r- z 0,c.:, -.; A:Jf"F1 ~ ::r.:: -yo! A:I: (A OC: -.,e> 0 ~I ne:? :t:. oft!. 02: :x co C::(f Z "'- ("" -. ::0 --- ~' -i~ -<, ::0 c:n 0 ~ s: THESE MATTERS are before the court based on the parties announcing to the court that the above-referenced cases have been settled by a global agreement by and among the parties under the following terms and conditions: BACKGROUND I. On March 14, 2008, Plaintiff Carolyn Montgomery brought suit against the Town of Atlantic Beach in that matter entitled Carolyn Montgomery vs. Town of Atlantic Beach, civil action no: 2008-CP , for breach of contract concerning that Employment Agreement between the parties whereby the Town hired Plaintiff to be its Town Manager. This matter was

2 tried by a bench trial before the Honorable Larry B. Hyman, Jr. on September 1-2, By Order dated September 15, 2010, Judge Hyman awarded Plaintiff the sum of $83, plus prejudgment interest in the amount of $38, On September 14, 2010, Plaintiff filed a Motion for Attorney's Fees pursuant to S.c. Code Ann in the amount of $24, Judge Hyman heard this motion on May 29, No ruling has been issued at this time. Post-judgment interest has continued to accrue on the amounts due. Payments totaling $56, have been made to the Plaintiff in partial satisfaction of the judgment. 2. On March 18, 2008, Plaintiff Tyson Beach Group, LLC filed suit against the Town of Atlantic Beach Tyson Beach Group, LLC vs. Town of Atlantic Beach, civil action no: 2010-CP R, to collect on a Loan Agreement and Promissory Note dated January 30, 2002, executed by the Town in favor of Tyson Beach Group. Plaintiff advanced the Town $ i90,000 under these documents. The Note bears interest at ten (10% percent per annum. The Note further allows for the recovery of reasonable attorney's fees for Tyson Beach. One payment of $15,000 has been made on this note. SETTLEMENT TERMS._. L_.. Forthepurposes.of.settlernent.cthe parties agn~e_that.thefollowing.amounts.are. presently owed on these three ma~ers as of June 1, 2012, including post-judgment interest and attorney's fees where applicable: Montgomery v. Town of Atlantic Beach, 2008-CP , the sum of $105,79436 Tyson Beach Group, LLC v. Town of Atlantic Beach, 20IO-CP R, the surn of $358, To facilitate the settlement of this matter, Tyson Beaeh 2

3 Group has agreed-to reduce the interest on the note by one-half. Therefore, the parties agree the total amount due to Tyson Beach Group is $266, Therefore, the total due from the Town of Atlantic Beach to the Plaintiffs for the purpose of settlement is the sum of $372, The accrual of all further interest and attorney's fees, from June 1,2012, except as set forth below, is suspended. 2. The Town of Atlantic Beach shall pay to the trust account of Thomas & Brittain, P.A., P.O. Box 1290, Myrtle Beach, SC 29578, as attorneys for the Plaintiffs, forty-eight (48 consecutive monthly payments of $7,763.20each in full and complete satisfaction of the abovereferenced claims. Payments shall begin on November" 15, 2012, and shall be made on the 15 th of each subsequent month, and if the is" falls on a weekend or legal holiday, then the next.. business day thereafter. All sums not paid on or before the date due, shall bear interest at the then prevailing judgment rate. Payments shall be applied pro rata to each matter and specifically 28.39%. of the sums paid shall be applied to the matter of Carolyn Montgomery v. Town of Atlantic Beach, 2010-CP-26-2I09 and 71.61% shall be applied to the matter of Tyson Beach Group, LLC v. Town of Atlantic Beach, 201 O-CP R. Thomas & Brittain shall be... _.. entitled..to.retain.one-third of all. sums.paid into. its rrust account. until.all outstanding.attorney's. _... " fees in these matters between Thomas & Brittain and the Plaintiffs shall pe paid in full. The Town shall expressly provide for the payment of these sums in its annual budgets for Fiscal Years Ending 2014,2015,2016 and To insure compliance with this provision, all annual budgets for FYE 2014, 2015, 2016, and 2017 shall be provided to Thomas & Brittain no later than the July 1 of the relevant fiscal year. In any budget shortfall, the sums required to be paid hereunder shall take priority over all other expenses and indebtedness of the Town except for 3

4 '. taxes and employment withholding, existing bonded indebtedness incurred prior to the filing of his order, budgeted payroll, and other priorities as specifically provided by statute. 3. This Court takes judicial notice of the various legal problems of the Town, and of the Town's checkered history in complying with Orders of this Court. This Court retains jurisdiction to enforce the terms of this Order and shall retain all such powers given to this Court by law to enforce the same. Should the Town be in default of its obligations herein, Plaintiffs shall move to invoke the contempt powers of this Court. Among other remedies, this Court shall have the authority to issue a mandatory injunction to require the Town to authorize the Horry County Treasurer's Office to make payments directly to Thomas & Brittain, P.A. as set forth in the preceding paragraph from those taxes collected by the Treasurer's Office on behalf of the.. Town prior to remitting the funds to the Town in amounts sufficient to satisfy the outstanding arrears. In any contempt proceedings, the Plaintiffs shall be entitled to reasonable attorneys fees incurred. 4. The Town may and is encouraged to pre-pay its obligations to the Plaintiff's hereunder. All prepayments made will be allocated as set forth in the paragraph 2 above. The parties-may- change.the, allocation.ofany.prepayment.if, the.change.in allocation.is, reduced- to.. _ writing and executed by each of the parties. 5. Should all payments during Fiscal Year Ending 2013 be timely made, then Plaintiffs shall dismiss each of the' above-referenced cases with prejudice and satisfy the judgments of record. The filing of the stipulations and satisfactions shall not affect the Town's further obligations under this Order. 4

5 AND IT IS SO ORDERED...\ 1 ~~/~::r-_/ Larry B. Hyman, Jr. Circuit Court Judge, Fifteenth Judicial Circuit Io-<2~ '-----, Conway, South Carolina 5

6 CONSENT ORDER OF SETTLEMENT Carolyn Montgomery vs. The ToWn of Atlantic Beach Tyson Beach Group, LLC VS. The Town of Atlantic Beach Civil Action Nos: 2008-CP and 2010-CP R CharI. Jordan, Jr. TH MAS & BRITTAIN, P.A. P.O. Box f290 Myrtle Beach, SC Attorney for Plaintiff 6

7 CONSENT ORDER OF SETTLEMENT Carolyn Montgomery vs. The Town of Atlantic Beach Tyson Beach Group, LLC vs. The Town of Atlantic Beach Civil Action Nos: 2008-CP-26-2I09 and 2010-CP IR WE CONSENT: C~~~~ Calvin Blanton Town Manager Town of Atlantic Beach 717 so" Avenue S. Atlantic Beach, SC

This document has been electronically entered in the records of the United States Bankruptcy Court for the Southern District of Ohio.

Case 216-ap-02087 Doc 14 Filed 02/07/17 Entered 02/08/17 081038 Desc Main Document Page 1 of 5 This document has been electronically entered in the records of the United States Bankruptcy Court for the