Loading...
HomeMy WebLinkAbout98-01332 ,-' . " 01. , SEPA/t1TIQ/V AriP-PROPERTY SEITI.EMENT AGREEMENT THIS AGREEMENT, made this f.1~ dayof ~ ,1998, by and between BRIAN A. ARNOLD, of 4185 Mountain View Road, Mechanicsburg, Cumberland County, Pennsylvania, party of the lirst part, hereinafter referred to as "Husband", AND Jacqueline P. Arnold, of , party of the second part, hereinafter referred to as "Wife", WITNESSETH: WHEREAS, Husband and Wife were married on September 5, 1987 in Cumberland County, Pennsylvania; and WHEREAS, Husband and Wife are residents of the Commonwealth of Pennsylvania and have been so for at least the past six months; WHEREAS, certain differences have arisen between the parties hereto which have made them desirous of living separate and apart from one another; and WHEREAS, Husband and Wife desire to settle and determine certain of their marital rights and obligations, and make an equitable distribution of their marital property, detennine their rights to alimony and support and any other matters which may be considered under the Domestic Relations Code; and WHEREAS, it is the intention and purpose of this Agreement to set forth the :i " , 'I 'I respective rights and duties of the parties while they continu~ to live apart from each other \ : and to settle alllinancial and property rights between them; and i" l:~ , '~ \,;.;",~ ': '..~ '--, ~ " .. 2,2 It is further specifically understood and agreed that the provision of this Agreement relating to the equitable distribution of property of the parties are accepted by each party as a final settlement for all purposes whatsoever, Should either of the parties obtain a decree, judgment or order of separation or divorce in any other state, country, or jurisdiction, each of the parties to this Agreement hereby consents and agrees that this Agreement and all its covenants shall not be affected in any way by any such separation and divorce, 2,) This Agreement shall survive any decree in divorce and shall be forever binding and conclusive on the parties, It is understood by and between the parties that this Agreement shall be incorporated into any decree, divorce or separation, but it shall not be deemed merged in such decree, ARTICLE /// EOUITAB/,E DISTRIBUTION OF MARITAL PROPERTY ),] The parties have attempted to divide their marital property in a manner which confonns to the criteria set forth in the Pennsylvania Divorce Code, and taking into account the following considerations: the length of the marriage; the prior marriages of the parties; the age, health, station, amount and sources of income, vocational skills, emplvyability; estate, liabilities, and needs for each of the parties; the contribution of one party to the education, training or increased earning power to the other party; the \ " opportunity of each party for future acquisition of capital assets and income; the sources of income of both parties, including but not limited to medical, retirement, insurance or other benefits; the contribution or dissipation of each part in the acquisition, preservation, depreciation, or appreciation of marital property, including the contribution of a party as a homemaker; the value of the property set apart to each party; the standard of living of the parties established during their marriage; the economic circumstances of each party, including federal, state and local tax ramifications, at the time of the division of the property is to become effective; and whether the parties will be serving as the custodian of any dependent minor children, 3,2 The division of existing marital property is not intended by the parties to constitute in any way 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, 3,3 Personal Prol1ertv. The parties acknowledge that they have divided their personal property, tangible and intangible, to their mutual satisfaction, The parties further acknowledge that they have the cash, accounts, or other tangible and intangible property in their possession that they wish to have and neither will make any claim whatsoever against the other party for any other items of personal prqperty or assets that are in the other party's possession, ~ , J.4 /Jf~ In,furnnce. Each party agrees that the other party shall have sole ownership of any life insurance policies owned by the other party, Each party shall have the right to borrow against, cash in policies, change beneficiaries, and exercise any other incidents of ownership of the respective policies free of any right or claim by the other party, Each party agrees to sign any documents necessary to waive, relinquish or transfer any rights in such policies to the respective party who presently owns such policies, ),5 Subsequentlv Acquired ProTlerlv, Husband and Wife agree to waive and relinquish any and all right that he or she may now have or hereafter acquire in any real or tangible personal property subsequently acquired by the other party, Husband and Wife specifically agree to waive and relinquish any right in such property that may arise as a result of the marriage relationship. ),6 Real Estate. The parties were the joint owners of real estate located at 423 Bemheisel Bridge Road, Carlisle, Cumberland County, Pennsylvania, Having sold the property on or about April 30, 1998, the parties agree that the proceeds of the sale have already been divided between them to their mutual satisfaction .. .. J,7 Wife agrees to waive, transfer or relinquish any and all of his right, title and interest she has or may have in her individual capacity or as Husband's Wife in any and all pension, retirement, profit-sharing, stock options or similar accounts with Husband's present or past employers or which Husband has secured independently. Husband agrees to waive, transfer or relinquish any and all of his right, title and interest he has or may have in his individual capacity or as Wife's Husband in any and all pension, retirement, profit-sharing, stock options or similar accounts with Wife's present or past employers or which Wife has secured independently, J,8 Vehicles. The parties acknowledge that Wife has and shall retain sole and exclusive possession of the parties' '91 Chevy Cavalier Station Wagon, Husband shall make no claim whatsoever relative to access for use of the aforesaid vehicle and shall make no ownership claim of any nature in the aforesaid vehicle, The parties acknowledge that Husband has in his possession certain 1997 Dodge Ram Pick-up which vehicle shall remain as Husband's sole and exclusive possession, Wife hereby waives, relinquishes and transfers any and all right, title, and interest that she has or may have in the aforesaid vehicle, Husband shall be solely and exclusively responsible for any and all encumbrance of any nature whatsoever in the aforesaid vehicle and shall hold Wife harmless and save her from and against any and all collection activity on account of any such encumbrance.. The parties shall transfer titles as,llecessary to reflect the above ownership within 20 days of the execution of this agreement _ ''''n__._~ .,l 4 J.9 Intanglhle Personal PrOI1t!rfv, The parties acknowledge that they have transferred or waived rights and interest in their intangible personal property, including their various bank accounts, credit union accounts and the like, Neither party will make any claim of any nature whatsoever against the other relative to financial accounts or other investments or intangible personal property that has already been retained by the other party, ARTICLE IV ALIMONY. ALIMONY PENDENTE LITE. SPOUSAL SUPPORT, CHILD SUPPORT AND MAINTENANCE 4,1 The parties have each secured and maintained a substantial and adequate fund with which to provide themselves sufficient resources to provide for their comfort, maintenance and support in the station of life in which they are accustomed, Husband and Wife do hereby waive, release and give up any rights they may respectfully have against the other for alimony, support or maintenance, 4,2 Husband and Wife specifically waive, release and give up any rights for alimony, alimony pendente lite and spousal support pursuant to Chapter 37 of the Domestic Relations Code, ~ '"' . accruing) of the other or against the estate of such other, of whatever nature and wheresoever situate, which he or she now has or at any time hereafter may have against such other, the estate of such other, or any part thereof, whether arising out ofany former acts, contracts, engagements, or liabilities of such other as by way of dower or curtesy, or claims in the nature of dower or curtesy or widow's or widower's rights, family exemption, or similar allowance, or under the intestate laws, or the right to take against the spouse's Will; or the right to treat a lifetime conveyance by the other as testamentary, or all other rights of a surviving spouse to participate in a deceased spouse's estate, whether arising under the laws of (a) Pennsylvania, (b) any state, commonwealth or territory of the United States, or (c) any other country, or any rights which either party may have or at any time hereafter have for past, present, or future support or maintenance, alimony, alimony pendente lite, counsel fees, costs or expenses, whether arising as a result of the marital relation or otherwise, except and only except, all rights and agreements and obligations of whatsoever nature arising or which may arise under this Agreement or for the breach of any thereof. It is the intention of Husband and Wife to give to each other by execution of this Agreement a full, complete, and general release with respect to any and all property of any kind or nature, real or personal, not mixed, which the other now owns or may hereafter acquire, except and only except, all rights and agreements and obligations of whatsoever nature arising or which may arise under this Agreement or for the breach of any thereof. 6,4 . Warrantle,f, Each party represents that they have not herctoforc incurred or contracted for any debt or liability or obligation for which the estate of the other party may be responsiblc or liable, except as may be provided for in this Agreement. Each party agrees to indcmnifY or hold the other party hannless from and against any and all such debts, liabilities or obligations of every kind, including those for necessities, except for the obligations arising out of this Agreement. Husband and Wife each warrant, covenant, represent and agree that each will, now and at all times hereafter, save hannless and keep the other indemnified from all debts, charges, and liabilities incurred by the other after the execution date of this Agreement, except as is otherwise specifically provided for by the terms of this Agreement and that neither of them hereafter incur any liability whatsoever for which the estate of the other may be liable, 6.5 No waiver or modification of any of the terms of this Agreement shall be valid unless in writing and signed by both parties and no waiver of any breach hereof or default hereunder shall be deemed a waiver of any subsequent default of the same or similar nature, 6,6 Husband and Wife covenant and agree that they will forthwith execute any and all written instruments, assignments, releases, satisfactions, deeds, notes or such other writings as may be necessary or desirable for the proper implementation of this Agreement, and as their respective counsel shall mutually agree should be so executed in order to cany fully and effectively the terms of this Agreement. ,- . "'.0- ."~,,.. . 6.7 This Agreement shall be construed in accordance with the laws of the Commonwealth of Pennsylvania which are in effect as of the date of the execution of this Agreement. 6.8 This Agreement shall be binding and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors and assigns, 6,9 This Agreement constitutes the entire understanding of the parties and supersedes any and all prior agreements and negotiations between them, There are no representations or warranties other than those expressly set forth herein, 6,10 Severabilitv. If any term, condition, clause, section, or provision of this Agreement shall be detennined or declared to be void or invalid in law or otherwise, then only that term, condition, clause or provision shall be stricken from this Agreement, and in all other respects, this Agreement shall be valid and continue in full force, effect, and operation, Likewise, the failure of any party to meet his or her obligation under anyone or more of the articles and sections herein shall in no way void or alter the remaining obligations of the parties, 6,11 It is specifically understood and agreed that th!s Agreement constitutes and equitable distribution of property, both real and personal, which was legally and beneficially acquired by Husband and wife, or either of them, during the marriage as contemplated by the Divorce Code of the Commonwealth of Pennsylvania, 6,12 Disclosure. The parties each warrant and represent to the other that he or she has made a full and complete disclosure to the other of all assets of any nature whatsoever in which party has an interest, of the sources, and amount of the income of such party of every type whatsoever, and all other facts relating to the subject matter of this Agreement. 6,13 En(orceabilitv and Consideration. This Agreement shall survive any action for divorce and decree of divorce and 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 the Agreement by either Husband or Wife until it shall have been fully satisfied and performed, The consideration for this contract and agreement is 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 in stipulated, confessed, and admitted by the parties, and the parties intend to be legally bound hereby, In the event either party breaches the aforesaid Agreement and it is determined through appropriate legal action that the alleged party has so beached the Agreement, the breaching party shall be responsible for any and all attorney's fees as well as costs and expenses associated with litigation incurred by the non-breaching party to enforce this Agreement against the breaching party, In the event of breach, the non- breaching party shall have the right, at his or her election, to sue for damages for such (") v:'l 0 ~= CO -1', "'1'] r::: r.- :';"J c: U)u: ':;) i ii :rJ .~_ _,.1 ,- ..',\ '" -,m VI,"': Ul -:J'1' ."... " '- r;";: -~f (-, :.:-; ?~.': ".r, :J:; .'.., ':.~(~ :>':l'--l \.g ':..:rn J>t::: \..J :'~ '" .,.~! ~ ,I:'" -< 0 ~.f.} 0 ~ ::'" '-01 ".. :;J -Jt';) r.:: Q]Ut ~~ ,'ii:f! . -,., "" ,.J" >.T C" ',-" U1 :Jr' .:'.'::. ~ - , r',:: t~:l . :-~ 1 t..' ~::CI t~: 'i::f:l f~~C) :~-:; ~-~:~ ~? ()1T1 :3 ;....) :;.:! -- =.u .- -< . "- 1[,:: .fi::$: \I",' 1(':t1 . ..' :2{ i' '..~ ._1:....., t .. I;' jf...,.'. ',i' ~ :. ' f<;'~ - o 2~ ;:~ ...._.J " f/;": l.w C.J () "1', '-=.-' .:'-i,:~? , i:..'J " j . i:~~JJ .,.() ...jrn =.:..-1 .'-- ... -; ~- " ..J '':J .-.~ ",':,"" ..:.. -' . . ';';'" ..,' -' .,... o~, ~ ~ }\ ...... ..n 'i?J h ,,,",, ....... .., ~ ~ "l !,", c d t Ci -.. t ~ r f \ !~J (") '0 0 s; w '" -og~ r_ ~? , g!u: b~ hliIJ --.1) Z('.. -On-I v~.l" ,.0 '~?6 -.-" ;- ~,... ~:c:.: :;] Aa ,.~:: (', :i.;~~ ")0 s-:' orn ~ ::- S1 m ::oJ -.; (") .f.l 0 ~ 0:> -I' ~f;1 "" ,~ c:: O)U; c;') "'~ ~_.I :11 .;....C. 1') ~~,! :'..': i:Jt? r~L) ~: 2:!:l }~ C"J ....- ~..1 C") ~C) 9- orrt ". -': ::;! ~ ,:,.) ~ (n "< (") ,f.) Q, f~ O:l :0- :;.! "'T1GJ r::: ..:n 929\ 1,.") ill,...... .-.rn -~... I' ',i~ uZ,": l~ ':) -',,"": '..-1 J ~\.J ::>, -J';-r, . '. ')7'J ~:~~; -' .~,..O ? f3:tn ~r.;'~~ .-, ?;} :.:> ,"'" ::<1 ~ (}1 "< ,;"