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Tell me if I am reading this wrong. Jerry E., the father, signed the agreement in 1949, and the company tried to pay him but he refused.
The man arrested was Jeremy E., the son, who owns property next to his father's. He did not sign any agreement (at least not described in this excerpt). Therefore any agreement previously made, payments previously made, would only affect the father's property, not the son's.
Eminent domain is a bitch, but at least he ought to get some compensation for being wrongfully arrested and be reimbursed for the impounding of his ATV.
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