CHICAGO — The Archdiocese of Chicago has reached a $12.7 million settlement with 16 survivors of sexual abuse by Catholic priests, Cardinal Francis George announced Aug. 12. Fourteen of the cases involve abuse by 10 priests between 1962 and 1994, the archdiocese reported. Former priest Daniel J. McCormack, who pleaded guilty in 2007 to abusing five children, is responsible for…