No that temperature is not OK. If you have a forced air incubator the temperature should be 99.5 F. If it is a still air the location where you take the temperature is important. When it is still, warm air rises so you can get a difference in temperature reading depending on where you are in the incubator. The recommended temperature for a still air incubator is 101.5 F taken at the top of the eggs.
It's possible you could get some chicks to hatch depending on some things, but you are not likely to have a good hatch even if you get a few chicks. You will be a lot better off getting it down to the right temperature.
So you are using reservoirs for humidity. I don't know how many you have or how big individual reservoirs are. If it were me I'd do what it took to remove all the water I could from all the reservoirs and run the incubator until the humidity stabilizes. The humidity will not stabilize until all wet surfaces are dry. See what humidity you have. If necessary add water to one reservoir at a time until you get it where you want it.