Azarian Wrecking vs City of Racine Complaint alleges :Fraud" Machinery Row

the eminent domain process applicable, it would have the right to have its property appraised as if this had been a property acquisition by the City of Racine and to receive just compensation based on such appraisal as if the City were to be the party acquiring the property. The undersigned owner, has been fiilly informed of its rights under the law of eminent domain of the State of Wisconsin and has been furnished with the brochures of the Department of Commerce entitled “The Rights of Landowners Under Wisconsin Eminent Domain Law — Procedures Under Sec. 32.06 Wisconsin Statutes,” and Wisconsin Relocation Rights — Business, Farm and Nonprofit Organizations. In furtherance of the transfer of the property interest described above, Owner waives its rights, if any, that it may have to the steps prescribed by such law for acquisition of the interests in the property above-described, including the right to an appraisal of such interest and to accept settlement in the above-stated amount as full and final payment for the property interests being acquired by FDP MR, LLC. (Emphasis added.) See Exhibit “A.” 43. Sam Azarian or Harry Azarian was not represented by an attorney during the sale of the properties and during the signing of the Waivers.

44. Plaintiffs Sam Azarian d/b/a Sam Azarian & Sons Marina, Inc. and Azar, LLC collectively got $1.1 million for sale of the properties, which is $641,100 less than the total appraised value of $ 1,741,100.

45. On or about January 14, 2015, Gerta Jenson d/b/a BJJ, LLC sold her 820 Water Street property for $ 1.9 million. Jenson was paid $842,600 more than the assessed property value of $1,057,400. It is unknown if Jenson had a 10% holdback applied to the property sale, but, upon information and belief, a portion from the sale was later added to the reserve account. It is unknown if Jenson had to sign a Waiver from the CITY, and what the Waiver contained.

46. Plaintiff Sam Azarian’s properties were purchased entirely with funds transferred from an intergovernmental fund, not private funds.

47. In January 2015, the Developers Agreement regarding the properties was drafted by the CITY’s Attorney Elaine Sutton Ekes, changed the purpose of the 10% holdback for