Critique my settlement letter

[Shannon Trivett]

Former tenant left owing approx. $2000 in unpaid rent, water and damages  

I've recently been contacted by the Husband and he'd like to settle his portion of the liability.   They are still in the process of divorce but he's making large attempts to separate himself from her as quickly as possible.   He asked if I would accept half of the damages and water as his portion and retain the right to pursue her for the additional 50% plus last months rent, late fee and key charge.  I am comfortable with the comprise. Below is my first draft at the settlement agreement I would appreciate a critical eye. 

Also, how would you recommend this be signed, he works out of state but does travel to this area some weekends. 

Thanks

Agreement to Settle

XXXXXXXXXXXXXXXX (Landlord) and XXXXXXXXXXXX (Former Tenant) agree to the following

Premises:  # CCCCC Street, Any City, PA

Mr. XXXXXX agrees to pay 50% of gross damage/cleaning charges ($1,250) and 50% of past due water service (160.67) for a total of $705.34 (SEVEN HUNDRED FIVE DOLLARS AND THIRTY FOUR CENTS)

Tenant will pay the above amount owed in full no later than February 25, 2017, without further demand from Landlord. Payment may only be made money order.

Landlord agrees Payment in full as specified by this agreement releases Mr. XXXXXXXXXX of further obligation to this debt. Landlord reserves the right to pursue XXX  soon to be ex-wife XXX for remaining past due balance as permitted by law.

Landlord agrees not to take any legal action as long as the tenant complies with this agreement. Failure to make any payment on or before stated date is considered a material violation of this agreement and is grounds for further action as permitted by law including but not limited to civil court claim, adverse credit reporting to all three agencies and surrender of tenant information to a collection agency.

All other terms and conditions of original lease will remain in full force and effect.