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This is a legally binding Assumption of Risk and Release, Waiver, Discharge, Indemnity and Covenant Not to Sue. SETTLEMENT AGREEMENT, LIMITED RELEASE, WAIVER AND COVENANT.Applicants are encouraged to familiarize themselves with the terms of that statute and regulations before completing this application. 2 Participant agrees to release and not sue Colorado Mesa University, the State of. A release of liability will relinquish or destroy the injured party's cause of action. Shall be deemed as a release, waiver, discharge, and covenant not to sue the abovenamed College, including but not.