it is telling the court that the dismissal of the case is conditioned upon a settlement which if paid will allow them to dismiss the case by no later than 8/1/14. This will allow the trial date to be vacated. The court will set a compliance hearing date to check on the status of the dismissal for some time after the stated date that the dismissal will be filed to make sure that this has been done.
Without reading the whole document, I am making some educated guesses. Sounds like this is a Stipulation for Entry of Judgment. In your settlement, you probably agreed to a payment arrangement that will take longer than 45 days. So, the complaint will be dismissed without prejudice and the matter will be taken off the trial calendar. If you default on the settlement, the complaint will be re-filed and the matter put back on the trial calendar or there may be a paragraph that allows the plaintiff to obtain a judgment against you by default. If you have questions, you should have an attorney review the entire document before you sign it.
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