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Settlement Agreement between The Colorado & Wyoming Railway <br />Company and Frank J. Villa, Jr. ("Trustee's Motion"). A copy of <br />the Release is attached as Exhibit 1 hereto. <br />BACKGROUND <br />1. On or about January 4, 1993, Villa filed Civil <br />Action No. 93-C-3 in the United States District Court for the <br />District of Colorado (the "District Court case") against the C&W <br />seeking damages incurred under the provisions of the Federal <br />Employers' Liability Act, 45 U.S.C. $ 51, et sea. On January 25, <br />1993, Villa filed with the United States Bankruptcy for the <br />District of Utah, Central Division, a proof of claim in the <br />amount of $200,000.00 predicated upon the personal injury claim <br />in the District Court case. <br />2. Previously, William J. westmark, Chapter 11 <br />Railway Trustee for The Colorado & Wyoming Railway Company, filed <br />the Trustee's Motion which asked the Court to approve a <br />settlement offer to Villa in the amount of $87,500.00. Due to <br />potential objections by the Debtors in Possession and Creditors' <br />Committee, the hearing on the Trustee's Motion was continued <br />without date and never rescheduled. <br />3 The Release resolves the claims brought by Villa <br />against the CfiW in the District Court case. <br />4. Villa, formerly the president of the Colorado & <br />Wyoming Railway Company, alleges that he suffered injuries to his <br />-2- <br />