Based on the context provided, here is a template for a settlement agreement concerning a land dispute that adheres to the legal requirements specified in the documents:
SETTLEMENT AGREEMENT
This Settlement Agreement (“Agreement”) is made on this [Insert Date] by and between:
[Party A Name], residing at [Party A Address] (hereinafter referred to as “Party A”)
and
[Party B Name], residing at [Party B Address] (hereinafter referred to as “Party B”).
Recitals
WHEREAS, Party A and Party B are involved in a dispute concerning the land located at [Insert Property Address or Legal Description] (hereinafter referred to as “the Property”);
WHEREAS, the parties wish to resolve this dispute without further litigation;
NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:
1. Settlement Terms
a. Party A shall [describe actions or payment to be made by Party A], and Party B shall [describe actions or payment to be made by Party B].
b. The parties acknowledge that this Agreement represents a full and final settlement of all claims relating to the Property.
2. Execution and Attestation
a. This Agreement shall be reduced to writing as required by Section 2 of the Prevention of Frauds Ordinance.
b. This Agreement shall be signed by Party A and Party B in the presence of a licensed notary public and two or more witnesses present at the same time.
c. The execution of this Agreement shall be duly attested by such notary and witnesses.
3. Binding Agreement
This Agreement shall be binding as between the parties and enforceable in law as a valid contract, in accordance with the Commercial Mediation Centre of Sri Lanka (Amendment) Act, No. 37 of 2005.
4. Filing with the Court
A certified copy of this Agreement shall be filed in the court, and shall have effect as if it were a judgment of the court, as per the provisions outlined in [filename: 7-2007_E.pdf, 3776.pdf].
5. Confidentiality
The parties agree to maintain the confidentiality of the terms of this settlement, except as required by law or as necessary to enforce the terms of this Agreement.
6. Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, understandings, and agreements between the parties.
IN WITNESS WHEREOF, the parties have executed this Settlement Agreement as of the date first above written.
[Signature of Party A] ___________________________ Date: _______________
[Signature of Party B] ___________________________ Date: _______________
Notary Attestation
State of [State]
County of [County]
On [Insert Date], before me, [Notary’s Name], Notary Public, personally appeared [Names of the signatories], known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument and acknowledged that they executed the same for the purposes therein contained.
In witness whereof, I hereunto set my hand and official seal.
[Notary Signature] ___________________________ Date: _______________
My Commission Expires: _______________________
Witnesses
[Signature of Witness #1] _______________________ Date: _______________
[Signature of Witness #2] _______________________ Date: _______________
Please note that this template is based on the context provided and is not a substitute for professional legal advice. It is important to consult with a licensed attorney to ensure that the settlement agreement complies with all applicable laws and regulations, and that it is properly executed by the parties and their legal representatives.
