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HomeMy WebLinkAbout96-05889 \ '" .- '"" ... 0) ~ '" .~ . c.. -- oJ ~ ) ( ~ \ 31 I , I , 0"\ 00 : 00 i If>\ I I I , , PROPER'r'i SETTLEMENT "'~ THIS AGREEMENT, made this '1-- AGREEMENT day of IL~~Vt?fl'f.u.tj 1996, by and between JOHN B. MERRIS, (hereinafter called "Husband") and CHRISTINA M. MERRIS, (hereinafter called "Wife"). WIT N E SSE T H: WHEREAS, the parties hereto are Husband and Wife, having been married on June 13, 1989 at Lititz, Lancaster County, Pennsylvania, and they have no children; and WHEREAS, difficulties have arisen between the parties as a result of which they now desire to live separate and apart and by this Agreement to settle all financial and property rights between them; and WHEREAS, in preparing this Agreement and negotiations contemporaneously therewith, Husband was represented by R. Mark Thomas, Esquire, and Wife was represented Jason M. Weinstock, Esquire; and WHEREAS, Husband and Wife respectfully acknowledge that before signing this Agreement they have been fully advised by their respective counsel of their rights and obligations, or have waived the right to be fully advised by their respective counsel of their rights and obligations, and have read carefully and understand the terms of this Agreement, and have freely consented to this Agreement, believing it to be fair, just and equitable; and WHEREAS, Husband and wife are satisfied that they understand the value and extent of all property which would be considered "marital property" under the pennsylvania Divorce Reform Act, whether titled or owned separately or jointly as well as the value and extent of nonmarital property held or expected to be held by each other; and NOW, THEREFORE, in consideration of the mutual promises and undertakings set forth herein and intending to be legally bound hereby, the parties hereto do agree as follows: 1. MUTUAL SEPARATION - Husband and Wife shall be free from constraint or control by the other as fully as if he or she were unmarried. Neither shall disturb, trouble and interfere in any way with the other or with any person for associating with the other. 2. MUTUAL RELEASE Husband relinquishes his inchoate intestate right in the estate of Wife, and Wife relinquishes her inchoate intestate right in the estate of Husband, and each of the parties hereto by these presents, for himself or herself, his or her heirs, executors, administrators or assigns, does remise, release, quit claim and forever discharge the other party hereto, his or her heirs, executors, administrators or assigns, or any of them, of any and all claims, demands, damages, actions, causes of action or suits at law or in equity, of whatsoever kind or nature, for or because of any matter or thing done, admitted or suffered to be done by said other party prior to and including the date hereof; further, the parties acknowledge that all rights under the Pennsylvania Divorce Code that are not specifically incorporated herein are hereby expressly waived. 2 3. DIVORCE - Husband has filed a Complaint in Divorce and Equitable Distribution. The parties agree that each of them will execute an Affidavit of Consent and a Waiver of a right to receive a notice of intention to seek entry of a Divorce Decree. These documents will be executed by both parties immediately after the expiration of the 90 day waiting period from the date of service of the Complaint. 4. EFFECT OF DIVORCE DECREE - This Agreement shall continue in full force and effect after such time as a final decree in divorce may be entered with respect to the parties. 5. AGREEMENT TO BE INCORPORATED IN DIVORCE DECREE - The terms of this Agreement shall be incorporated into any divorce decree which may be entered with respect to the parties. The Court of Common Pleas, which may enter such divorce decree, shall retain continuing jurisdiction over the parties and the subject matter of the Agreement for the purpose of enforcement of any of the provisions thereof. 6. DATE OF EXECUTION - The "date of execution" or "execution date" of this Agreement shall be defined as the date upon which it is executed by the parties if they have each executed the Agreement on the same date. Otherwise, the "date of execution" or "execution date" of this Agreement shall be defined as the date of execution by the party last executing this Agreement. 7. PERSONAL PROPERTY - The parties have physically divided and distributed their household goods ~nd other tangible personal 3 property. They mutually agree that each shall hereafter be the sole and separate owner of all such personalty now in their respective possessions free and clear of all rights, claims and interests of the other party. This agreement shall constitute a bill of sale by and from each party to the other to document the individual full ownerships by each party of the personalty now in their respective possessions. Specifically, if there is any question, the parties hereby agree that Husband shall retain possession and ownership in full of a 1962 Corvette which he owned prior to the marriage, and Husband shall retain full ownership and control over individual retirement accounts which total approximately $43,000.00, but which were owned by Husband prior to the marriage and of which only approximately $10,000.00 would be considered marital property. Husband hereby agrees to make a one-time payment in the amount of $2,500.00 cash to liif.e as part of the distribution of the marital assets. Wife hereby retains possession of, as well as f~ll ownership and control over, the following pieces of equipment which are located on the marital property: 1. Tractor 2. Manure spreader 3. Mower Wife will retain full ownership and control over the five (5) horses which the parties purchased during the life of the marriage 4 and which are currently being boarded at the marital residenc~. wife will retain full ownership and control over the 1990 Ford pickup truck, and in addition, Wife will be responsible for all payments which remain due and owing on the 1990 Ford pickup truck. 8. MARITAL RESIDENCE - Husband and Wife hold title as tenants by the entireties to a 15 acre farm which includes a house, barn, and garage, and which is located at 236 Brick Church Road, Newville, Cumberland county, pennsyl vania, (the "marital residence"). The parties hereby agree as follows with respect to the marital residence: A. wife will make arrangements to refinance the outstanding mortgage obligation on the marital residence so that the mortgage will be in her name alone and her sole responsibility, and thereafter, Husband shall deliver to Wife a duly executed and acknowledged Deed conveying all of Husband's right, title and interest in and to the marital residence. B. There is presently outstanding against the marital residence a mortgage in favor of GMAC. Wife has advised Husband that GMAC is willing to remove his name from the obligation provided that he executes the necessary documents required by GMAC. Husband agrees that he will execute such documents and Wife agrees that she will be solely responsible for the timely payment of all past, present and future principal, interest and other fees due under this mortgage. 5 9. DEBTS - The fOllowing debts have been identified by the parties as marital debts: A. 199~ Ford pickup truck B. VISA credit card ($1,000.00) e. Business obligation ($1,700.00) D. J.e. Penney's card & Discover credit card (The combined debt obligation on these two cards is approximately $3,000.00) Husband hereby agrees to assume the debt obligations with respect to the business obligation in the approximate amount of $1,700.00 and the combined J.e. Penney's and Discover credit card indebtedness in the approximate amount of $3,000.00. Wife hereby agrees to assume any outstanding debt obligations due on the 1990 Ford pickup truck and the VISA credit card obligation. Each party hereto shall be solely responsible for the payment of the debt obligations which they have assumed pursuant to this Agreement. Each party agrees to hold the other free and harmless and to indemnify the other from any and all liability which may arise as a result of the debts assumed by the other party. Both parties agree that, in the future, neither shall cause or permit to be charged to or against the other any purchase or purchases which either may hereafter make and shall not hereafter create any engagements, debts or obligations in the name of or against each other. 6 10. ALUIONY - 'rhis Agreement does not provide for the payment of alimony to either party. Wife hereby acknowledges that she will not receive any alimony pursuant to this Agreement and hereby agrees not to seek any alimony or additional spousal support in any form whatsoever from the Husband as of the date of the execution of this Agreement. 11. ENFORCEMENT If either party defaults in the due performance of any of the terms, conditions and covenants of this Agreement on his or her part to be performed, the non-defaulting party shall have the right to SU' for specific performance or damages for the breach of this Agreement, and the defaUlting party shall pay the reasonable legal fees for any services rendered by the non-defaulting party's attorney in any action or proceeding to compel the defaulting party's due performance hereunder as well as costs for bringing the action or proceeding. 12. EXECUTION OF DOCUMENTS - The parties agree to execute all documents, including but not limited to, deeds of title that are reasonably necessary to effectuate the purpose of this Agreement. In the event that either party shall refuse or fail to execute and/or acknowledge any such document, then the other party shall have, and is hereby granted, the right and power to appoint one or more times any person or persons of his or her choosing as attorney-in-fact for the other party to so execute and acknowledge such documents. 7 13. CONTRAC'l' INTERPRETATION For purposes of contract interpretation and for the purpose of resolving any ambiguity herein, Husband and Wife agree that this Agreement was prepared jointly by their respective attorneys. 14. AFTER-ACQUIRED PRQfl;IITX - Each of the parties shall hereafter own and enjoy, independently of any claim or right of the other, all items of property, be they real, personal or mixed, tangible or intangible, which are acquired by him or her after execution of this Agreement, with full power in him or her to dispose of the same as fully and effectively, in all respects and for all purposes, as though he or she were unmarried. 15. MISCELLANEOUS A. This Agreement constitutes the entire agreement between the parties, being the final and complete settlement of all matters between them and supersedes any prior written or oral agreements between them respecting the within subject matter. There are no representations, agreements, arrangements or understandings, oral or written, between and among the parties hereto relating to the subject matter of this Agreement which are not fully expressed herein. B. This Agreement may not be amended, modified, altered or revoked except in writing executed by both the parties hereto. C. This Agreement may not be assigned by either party without the prior written consent of the other party. D. This Agreement may be executed in multiple 8 . - - ~ ,J.. ')- C) -;- ~ -I- ~ ~ Mf - () i'J: "I - )J i :?" ; J ~ ., .. '. "~ ~ -:r >-- c , , :::> ~~ )' , '-? 0 ~ ~ ~f: ,'. c.. ., ':"j ~'0 . ~ I ~ ,n \,1 ~ I" '" ':=: ~ -...;: -"4It ..... ' ,"1-1 6,.. 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