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PROPERTY SETTLEMENT AND SEPARATION AGREEMENT
.2 ..J /;,__ . .' I
THIS AGREEMENT, made this 1~ day of ~
1996, at Carlisle, Cumberland County, Pennsylvania, by and
between ROBERT J. SOSTAR of 540 Steelstown Road, Newville,
Pennsylvania 17241 (hereinafter referenced as "Husband")
AND
DONNA L. SOSTAR of 540 Steelstown Road, Newville, Pennsylvania
17241 (hereinafter referenced as "Wife").
ARTICLE I
SEPARATION
1.01 SeDaration of Parties. Differences have arisen
between the parties as a result of which they intend to dissolve
their marriage and separate from marital cohabitation as soon as
Wife is conveniently able to arrange for a separate residence.
1.02 Intention to Live AP~. The parties intend to
maintain separate and pErmanent domiciles and to live apart from
each other. It is the intention and purpose of this Agreement to
set forth the respective rights and duties of the parties and to
settle all financial and property rights between them.
ARTICLE II
ENFORCEABILITY AND CONSIDERATION
2.01 Eauitable Distribution of Marital ProDerty. The
parties have attempted to divide their marital property in
accordance with the statutory rights of the parties and in a
manner which conforms to the criteria set forth in S401 of the
Pennsylvania Divorce Code, and taking into account the following
considerations: The age, health, station, amount and sources of
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income, vocational skills, employability, estate, liabilities and
needs of each of the parties; the contributions of each party;
the opportunity of each party for future acquisition of capital
assets and income; the sources of income of each party,
including, but not limited to, medical, retirement, insurance or
other benefits; the contribution or dissipation of each party in
the acquisition, preservation, depreciation or appreciation of
marital property, including the Gontribution of each party as
homemaker; the value of the property set apart to each party; the
standard of living of the parties established during the
marriage; and the economic circumstances of each party at the
time the division of property is to become effective.
The division of existing marital property is not intended by
the parties to constitute in anyway a sale or exchange of assets,
and the division is being effected without the introduction of
outside funds or other property not constituting marital
property. The division of property under this Agreement shall be
in full satisfaction of all rights of equitable distribution of
the parties.
2.02 Incorcoration and Merqer. This Agreement shall be
incorporated but not merged in the decree of divorce contemplated
herein. This Agreement shall survive any &ction for divorce and
decree of divorce and, unless otherwise set forth herein shall
forever be binding and conclusive on the parties; and any
independent action may be brought, either at law or in equity, to
enforce the terms of this Agreement by either Husband or Wife
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until it shall have been fully satisfied and performed. Any
provisions herein concerning property rights shall not be
modifiable. The considerations for this Agreement are the mutual
benefits to be obtained by both of the parties hereto and the
covenants and agreements of each of the parties to the other.
The adequacy of the consideration for all agreements herein
contained is stipulated, confessed and admitted by the parties,
and the parties intend to be legally bound hereby.
2.03 Aareement Predicated on Divorce. It is specifically
understood and agreed, by and between the parties hereto and each
of the said parties does hereby warrant and represent to the
other, that the execution and delivery of this Agreement is
predicated upon an agreement for i~stitution and prosecution of
an action for divorce. Nothing contained in this Agreement shall
prevent or preclude either of the parties hereto from commencing,
instituting or prosecuting any action or actions for divorce,
either absolute or otherwise, upon just, legal and proper
grounds; nor to prevent either party from defending any such
action which has been, mayor shall be instituted by the other
party, nor from making any just or proper defense thereto. It is
warranted, covenanted and represented by Husband and Wife, each
to the other, that this Agreement is lawful and enforceable and
this warranty, covenant and representation is made for the
specific purpose of inducing Husband and Wife to execute the
Agreement. Husband and Wife each knowingly and understandingly
hereby waive any and all possible claims that this Agreement is,
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tor any reason, illegal or tor any reason whatsoever of public
policy, unenforceable in whole or in part. Husband and Wife do
each hereby warrant, covenant and agree that, in any event, he
and she are and shall forever be estopped from asserting any
illegality or unenforceability as to all or any part of this
Agreement.
ARTICLE III
EQUITABLE DIVISION OF MARITAL PROPERTY
3.01 Eauitable Division of Real ProDerty. concurrently
with execution of this Agreement, Wife shall execute a Deed
transferring to Husband all of her interests in the real estate
upon which the marital dwelling is constructed and all of the
improvements thereon erected. The Deed will be held in escrow
until issuance of a full and final Decree in Divorce and
satisfaction of all of Husband's other obligations under the
terms of this Agreement. In consideration of this transfer,
Husband will pay to Wife the sum of Forty-Five Thousand and
No/100 ($45,000.00) Dollars which sum shall be payable without
interest five (5) years from the date of release of the Deed to
Husband. Husband shall be responsible for the costs and
recording fees in connection with the transfer of the Deed.
3.02 Eauitable Division of Personal ProDerty.
(a) The furniture, household goods and other similar
untitled personal property have been divided to the mutual
satisfaction of the parties hereto, and each of the parties
retains absolute ownership of such items in his or her possession
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..
or control at the date of this Agreement. The property shall be
deemed to be in the possession or under the control of either
party if, in the case of tangible personal property, the item is
physically in the possession or control of the party at the time
of the signing of this Agreement and, in the case of intangible
personal property, if any physical or written evidence of
ownership, such as passbook, checkbook, policy or certificate of
insurance or other similar writing is in the possession or
control of the party, unless provided otherwise in this
Agreement;
(b) The parties will execute and deliver any documents
necessary to formally release their rights in or claims to the
employee benefits, including without limitation, employee
pension, stock, profit sharing and savings plans, if any, of the
other; and
(c) The parties will execute and deliver any documents
necessary to formally release their rights and all claims to the
life insurance of the other.
ARTICLE IV
DEBTS OF PARTIES
4.01 Loans. The only loan to which either of the parties
is a party is the mortgage on the marital dwelling. Husband will
see to the release of Wife from that mortgage either by obtaining
a release of Wife from the lender or by refinancing the mortgage
within ninety (90) days from the date of execution of this
Agreement.
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(b) Reasonable counsel tees hereunder shall bo detined as
reasonable hours expended at the then hourly rate ot counsel tor
the prevailing party.
ec) Such counsel fees shall extend to any independent
proceedings necessary to collect counsel tees or to entorce any
other judgment or decree in connection with this Agreement.
ARTICLE VII
GENERAL PROVISIONS
7.01 Income Tax Conseauences. The parties have heretofore
tiled joint federal and state income tax returns. Both parties
agree that in the event any deficiency in f~der.al, state or local
income tax is proposed, or any assessment of any such tax is made
against either of them, each will indemnify and hold harmless the
other from and against any loss or liability for any such tax
deficiency or assessment and any interest, penalty and expense
incurred in connection therewith. Such tax, interest, penalty or
expense shall be paid solely and entirely by the individual who
is finally determined to be responsible for the deficiency or
assessment. Except as otherwise set forth herein, any income tax
incidents ot any kind imposed by virtue of any transfers ot
assets or other payments required under this Agreement will be
the responsibility of the transferee.
7.02 General Release ot All Claims. Each party hereto
releases the other from all claims, liahilities, debts,
Obligations, actions and causes of action of every kind that have
been incurred relating to or arising from the marriage between
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the parties. However, neither party is relieved or discharged
trom any obligation under this Agreement or any other instrument
or document executed pursuant to this Agreement.
7.03 Subseauent Divorce. Nothing herein contained will be
deemed to prevent either of the parties from maintaining a suit
tor absolute divorce against the other in any jurisdiction based
upon any past or future conduct of the other, nor to bar the
other from defending any such suit. In the event any such action
is instituted or concluded, the parties will be bound by all of
the terms of this Agreement.
7.04 Waiver of Estate Cla~. Except as otherwise herein
provided, in the event of the death of either party hereto, each
party hereby waives, releases and relinquishes any and all rights
that he or she may have or may hereafter acquire as the other
parties' spouse under the present or future laws of any
jurisdiction, as follows:
(a) to elect to take against the will or codicils of the
other party now or hereafter enforced;
(b) to share in the other parties' estate in cases of
intestacy;
(c) to act as executor or administrator of the other
parties' estate; and
(d) The right to equitable distribution.
7.05 No Debts and Indemnification. Each party represents
and warrants to t...:: other that he or she will not incur any debt,
obligation or other l.\ability, other than those already described
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in this Agreement, on which the party is or may be liable. Each
party covenants and agrees that if any claim, action or
proceeding is hereafter initiated seeking to hold the other party
liable for any other debt, obligation, liability, act or omission
of such party or for any obligation assumed by a party hereunder,
the party liable will, at his or her sole expense, defend the
other against any claim or demand, whether or not well-founded,
and that he or she will indemnify and hold harmless the other
party in respect to all damages resulting therefrom.
7.06 Full Disclosure. Each party asserts that he or she
has made a full and complete disclosure of all of the real and
personal property of whatsoever nature and wheresoever located
belonging in anyway to each of them, of all sources and amounts
of income received or receivable by each party, and of every
other fact relating in anyway to the subject matter of this
Agreement. These disclosures are part of the considerations made
by each party for entering into this Agreement.
7.07 Riaht to Live Seoaratelv and Free from Interfe~~Q.
Each party will live separately and apart from the other at any
place or places that he or she may select. Neither party will
molest, harass, annoy, injure, threaten or interfere with the
other party in any manner whatsoever. Each party may carryon
and engage in any employment, profession, business or other
activity as he or she may deem advisable for his or her sole use
and benefit. Neither party will interfere with the use,
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ownership, enjoyment or disposition of any property now owned or
hereafter acquired by the other.
7.08 Aareement Voluntary and ClearlY Understood. Each
party to this Agreemont acknowledges and declares that he or she,
respectively:
(a) Is fully and completely informed as to the facts
relating to the subject matter of this Agreement and as to the
rights and liabilities of both parties;
(b) Enters into this Agreement voluntarily after receiving
the advice of independent counselor, having had the opportunity
to do so, having decided not to do so;
(c) Has given careful and mature thought to the making of
this Agreement;
(d) Has carefully read each provision of this Agreement;
and
(e) Fully and completely understands each provision of this
Agreement, both as to the subject matter and legal effect.
7.09 ComDliance. The parties will execute and deliver any
documents necessary to formally conclude any of their obligations
under the terms of this Agreement to each other.
7.10 Default. If either party fails in the due performance
of any of his or her material obligations hereunder, the party
not in default will have the right to act against the other, at
his or her election, to sue for damages for breach hereof, or to
rescind this Agreement or seek sllch other legal remedies as may
be available to either party. Nothing herein shall be construed
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to re.trict or impair either party in the exercise of this
election.
7.11 Amendment or Modification. This Agreement may be
amended or modified only by a written instrument signed by both
parties.
7.12 Successors and Assians. In the event of the death of
either party prior to the issuance of a Decree in Divorce, this
Agreement shall survive the death; and all property, whether
jointly or separately owned, shall be divided under the terms of
this Agreement between the estate of the decedent and the
surviving spouse as though the Decree had issued prior to the
death. Except as otherwise expressly provided herein, this
Agreemant will be binding on and inure to the benefit of the
rospective legatees, devisees, heirs, executors, administrators,
assigns and succe$sors in interest of the parties.
7.13 Law Governina Aareement. This Agreemont will be
governed by and will be construed in accordance with the laws of
the Commonwealth of Pennsylvania in effect at the date of
execution hereof.
7.14 Reconciliation. In the event of reconciliation,
attempted reconciliation or other cohabitation of the parties
hereto after the date of this Agreement, this Agreement shall
remain in full force and effect in the absence of a written
Agreement signed by both parties hereto expressly setting forth
that this Agreement has been revoked or modified.
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I verity that the statements made in this pleading are true
and correct. I understand that talse statements herein are made
subject to the penalties ot 18 Pa.C.B. 54904 relating to unsworn
talsitication to authorities.
Date: April 29, 1996
.~kTA
Robert J. Bostar
WAYNE F. SHADE
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5.
I understand that I will not be divorced until n Divorce
Decree is entered by the Court and that a copy of the Decree will
bs sent to me immediately after it is filed with the
prothonotary.
6.
I have been advised of the availability of marriage
counseling and of my right to counseling and understand that I
may request that the Court require that my spouse and I
participate in cQunseling.
7.
I understand that the Court maintains a list of marriage
counselors in the Domestic Relations Office, which list is
available to me upon request.
8.
Being so advised, I do not request that the Court require
that my spouse and I participate in cQunseling prior to a Divorce
Decree's being handed down by the Court.
9.
I verify that the statements made in this Affidavit are true
and correct. I understand that false statements herein are made
subject to the penalties of 18 Pa.C.S. section 4904 relating to
unsworn falsification to
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authorities.
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Robert J. Sostar
WAYNE F, SHADr.
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