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HomeMy WebLinkAbout98-02128 "' \ " : ,l " !, \;. ~ lit 1 :>'j ~ d, ~ 2 ~ \ ill.. , .'".\ '1 1 [ I ' J / / \ I _ #i' I , , ; ( \.' ~ I -I .. ) .:a I ~I 0.1 '11 ;;1 (,' " . MARITAL PRO~Jr['r:..MiD SETILEMEJIILAQ!lli.EMENT This Agreement. rnade and entered Into this3/,:iT day of r4<<3 {.l:' T ,1998, between BONNIE K MOORE of 1308 Pheasant Drive South, Carlisle, Cumberland COWlty, Pennsylvania, herelnllfter referred to as "Wife," and CHRISTOPHER T. MOORE, of 925 Coldspring Road, FayettcMUe, Franklin COWlty, Pennsylvania, hereinafter referred to as "Husband." WHEREAS, the parties hereto are now Wife and Husband, having been lawfully married to each other on May 18, 1974, in FayettcMlle, Franklin COWlty, Pennsylvania; and, WHEREAS, certain differences bave arisen by and between the parties as a resuh of which they have now separated RlId the parties hereto are desirous of settling fully and finally their respective financial and property rights and obligation as between each other including, without lintitation by specification: the settling of all matters between them relating to the ownership and equitable distribution of real and personal property; the settling of all matters between them relating to the past, present llIId future support, alimony and/or maintenance of Wife by Husband or of Husband of Wife; and in general, the settling of any and aU claims and pOSSIble claims by one against the other or against their respective estates; and, WHEREAS, both and each of the parties hereto have been advised of their legal rights and the implications of this Agreement and the legal consequences that may and will ensue from the execution hereo~ and each has had the opportunity to consuh with his or her own competent legal colUlsel independent of each other; and, WHEREA S, each party warrants, as part of the consideration of this Agreement, that each has fully and completely disclosed all information of a financial nature requested by the other, and that no infurmation of such nature has been subject to distortimt or in any manner being misrepresented; and WHEREAS, other than as set forth herein, Wife desires finally and forever to relinquish aU of her right of dower, rights as heir or surviving SPOUIIC or otherwillC, actual, cllrrently existing. or inchoate, in and to the real and personal property of the Husband, now owned by him or Milch in the future may be O\\1led by him, and all rights to counsel fees, or expenllCs and other than as set forth herein, Husband likewise wlshes to relinquish all his rights of curtesy, rights as heir or surviving spouse or otherwise, a"1l1al and currently existing or inchoate in and to the real and personal estate of the Wife, currently owned by her or Milch she may 0\\11 in the future; NOW, THEREFORE, the parties hereto intending to be legally bound hereby do hereby mutll8lly agree as follows: I. Advice of Counsel. Husband and Wife acknowledge that they have been given the opportunity to obtain the advice of counsel regarding the provisions of thL~ Agreement and their legal effect in advance of the date set forth above to permit such independent review. Each party acknowledges that he or she has had the opportunity to receive independent legal advice from counsel ofhis or her selection, and that each fully understands the filcts and has been fuDy informed as to his or her legal rights and obligation, and each party acknowledges and accepts that this Agreement ls, and under the circumstances, filir and equitable, after having the opportunity to receive such advice and with such knowledge, and that execution of this Agreement is not the resuh of any improper or illegal agreement or agreements, In addition, each party hereto acknowledges that he or she has had the opportunity to be fuDy advised by his or her respective attorney of the impact of the Pennsylvania Divorce Code, \WlJI'eby the court has the right and dilly to determine aD marital rights of the Parties including divorce, alimony, alimony pendente lite, equitable distn'bution of all marital property or property owned or possessed individually by the other, counsel fees and costs of litigltlon and, fulJy knowing the same and having the opportunity to be fuIJy advised of his or her rights thereunder, each 2 , party hereto ~till desires to execute this Agreement, acknowledging that the terms and conditions set forth herein are fair, just and equitable to each of the parties, and waives his or her respective right to have the Court of Common Pleas of Cumberlond County, or any other court of competent jurisdiction, make any determination or order effecting the respective parties' rights to a divorce, alimony, alimony pendente lite, equitable distribution of all marital property, counsel fees and costs of litigation. 2. Separation. Husband and Wife do hereby mutually agree and consent to live separate and apart and do further agree that it shall be lawful fur the Husband and WIfe at all times hereafter to live separate and apart from each other, and to reside, from time to time, at such place or places as they respectful1y shall deem fit, free from any control or restraint or interference, direct or indirect, by each other. 3. No Molestation, Harassment or Interference. Neither party shall molest, harass or interfere with the other or compel or endeavor to compel the other to cohabit or dwell with him or her by any means whatsoever. 4. Mutual Property and Estate Waiver. Except as otherwise expressly set furth herein, in which event such express provision shall take precedence over this paragraph, the parties hereto intend that from and after the date of this Agreemmt, neither shall, have any spouse's rights in the property or estate of the other, and to that end both parties waive, relinquish, and forbear the rights of dower or curtesy, rights to inherit, rights to claim or take the Husband or Wrlil's or flunily exemption or aDowance, to be vested with letters of administration or letters testanrentary, or to take against any will of the other, and each agrees with the other if either should die intestate, his or her share shall descend to vest in his or her heirs at law, personal representatives, and next of kin, excluding the other as though he or she had died a widow or widower. And each further agrees that should the other die 3 . telltate, his or her property shall descend to and vest ill those persons set forth In the other's Last Will and Testament as though the spouse so design.ted .s benefioiary h.d predeceased the tellt.tor. The parties further agree that they may and can hereafter, as though unmarried, without any joinder by him or her, sell, convey, transfer or encumber any Blld all real estate and personal property whioh either of , thetn now or hereafter own or pos.'ieSS and filrther agree that the recording of this AgreetneIlt shall be conoluslve evidence to all of ht~ or her right to do so, The said Husband and Wife do hereby ilTevocably grant, eaoh to the other, should the exercise of'thJs power hereby given be necessary, the right and the power to appoint one or IIIOre times any person or persons whom the Husband or Wife shall designate to be the attorney-in-fact for the other, in their name and in their stead, to execute and aolmowledge any deed or deeds, releases, quit claims, or satisfactions, under seal or otherwise, to enable either party hereto to aHenate his or her real or personal property, but without any power to iIqlose personal liability for breach of warranty or otherwise, Each of the parties hereto further waives any right of election contained In Chapter 22 of the Pennsylvania Probate Estates and Fiduciaries Code, and any right to seek or have an equitable distn'bution of married property ordered by the Court pursuant to Section 3502 ufthe Divorce Code. Each of the parties hereto further agrees that neither shall hereafter be under any legal obHgations to support the other, pay any expenses for maintenances, funeral, buria~ or otherwise for the other, and to that end each of the parties hereto does hereby waive any right to receive support, aHmony, a1illlOny pendente lite, counsel fees, expenses, or any type of financial assistance whatsoever from the other, ~ as otheJWi.'ie expressly provided for herein. 5, Division of Personal Property. The parties hereto IlUltwllly agree that they have etfected a satisfactory division of the furniture, household furnisbings, appliances and other household personal property between them, and they 4 , IWtually agree that eaM party s1lall from and afler the date hereof be the sole and separate OWller ofall such tangible personal property presently in his or her pos.'lesslon, \Wether said property is heretofore own~ Jointly or individually by the parties hereto, and this Agrooment shall have the effect of an a88lpment or bill of fi8le from each party to the other for such property as may be in the individual p08llCll8ions of each of the parties hertllo, Husband further agrees to transfer to wife the wooden room divider and the water fountain. Further, the parties hereto have divided between themselves, to their mutual fi8tislilction, all items of tangible nnd intangible marital property, including motor vehicles and boat. Wife shall hereinafter own the 1992 CJI'IIId Prix and the 1987 lsuzu \WUe Husband shall hereinafter own the 1986 Astro Van and 1962 row boat. The parties further agree to execute \Watever docUll1Cllts are necessary to transfer title to the vehicles and boat. Neither party shaD make any claim to any such items of marital property, or of the separate personal property of either party, \Wich are now in the pos.'lesslon and/or under the control ofthe other. From and after the date of the signing of this Agreement both parties shall have complete freedom of disposition as to their separate property \Wich is in their possession or control pursuant to, this Agreement and may mortgage, sell, grant, convey or otherwise encwnber or dispose of such property, \Wether real or personal, \Wether such property was acquired before, during or' after marriage, and neither Husband nor Wife need join in, consent to, or acknowledge any deed, mortgage, or other instrument of the other pertaining to such disposition of property, Debt8, Wlfu agrees to assume the debt incurred in connection with a A IT credit eard which is in Wlfu's sole name, approxltnately in the amolDlt 0($2,700,00, Husband agrees to assume the debt incurred in connection with the Federal Visa credit card \Wich is presently the name ofboth parties and 5 III of the debt incllrred In connection with the Bravo, Selrs and I>lsoover credit cards which are solely In Husband's name, The parties agree to be responsible fur any other Individual debts which are presently In their IndMdual nlmes and to indemnifY and hold hannless the other for the aforementioned debts.. 7, future Debts, The parties further agree that neither will Incur any more future debts for which the other may be held liable, and if either party incurs a debt for which the other will be liable, that party Incurring such debt will indemnifY and hold the other hlnnless from any and all liability thereof. 8, Real Property, It is hereby acknowledged by both parties that they are the co-owner8 of two properties which both having mortgages in both partlesllames, Husband agrees to transfer his right, title and interest in and to the parcel of jointly-owned real estate with improvements thereon situate at 1308 Pheasant Dr" South, Carlisle, Cumberland County, Pennsylvania, to Wife to become solely Wife's residence, and to sign all documents necessary to effect said tran~fer of the title to the real estate to Wife's name indMdually contemporaneously with the signing of this Agreement. Wife agrees to indemnifY Husband from any and all mortgages, liens, lines of credit or equity loans that now exist or may exist in the future regarding this residence, Husband agrees to waive any claim or right to rental income from Wife's residence, Both parties agree to refinance the mortgages for their respective residences, The parties acknowledge that they have a combined mortgage liability as of August 31, 1998 of $81,S30,26 ($13,872,14 (Wife's residence) + $67,6S8,12 (Husband's residence)), The parties further acknowledge that they agree to be responSIble for one half of the $81,S30,26 or $40,76S, 13 each, Wife agrees to payoff the $13,872,14 in the refinancing of her residence and pay to Husband 6 $26,892,99 as the remainder of her obligation toward the marital debt of the two residences, Husband agrees to accept $26,892,99 as Wife's sbare ofthe mortgage liability and agrees to apply said amowlt toward the payoff of the mortgage on his residence and provide proof thereof to Wife on or before September 8, 1998, Wife agrees to transfer her right, title and interest in and to the parcel of jointly-owned real estate with improvements thereon situate at 925 Cold spring Rd, Fayetteville, Franklin County, Pennsylvania, to become solely Husband's residence, Wife agrees to sign all documents neces.wy to effect said transfer of the title to the real estate to Husband's name individually, Husband agrees to indemnity Wife from any and all mortglges, liens, lines of credit or equity loans that now exist or may exist in the future regarding this residence, Husband agrees to pay Wife the slim ofSlO,OOO,OO on July I, 1999 payable in a lump sum or payable at $2,000,00 per year for five years beginning July I, 1999 and continuing thereafter each succeeding year until the full .mount is paid, 9, Support, AUmony and Alimony Pendente Ute, Both parties agree to waive any and all rights either may have to support, alimony and/or alimony pendente lite from this time forward into the future, 10, Penllion, Each party agrees to waive any right they may have in the others' pension or retirement plan, Wife lilrther agrees to waive any right sbe may have in Husband's swvivor Benefit Plan with the federal government. Husband agrees to pay Wife $6,000,00 upon retirement from the federal government. II, Counsel Fees and Court Costs, The parties agree to be responsible for their respective legal fees and court costs incurred in the process of any divorce ac..'tion or separation 7 a8feemen1. 12. Divorce. l1te parties acknowledge their intention and asreement to proceed in an .ctlon In divorce to obtain a final decree in divorce by mutual consent on the grounds that their marriage is irretrievably broken, and to settle amicably and fully hereby an claims raised by either party in any divorce action, The parties agree to execute any lUId all docwnents necessary for the entry of a final divorce decree, 13. Breach. In the event that either party breaches any provision of this Marital Property lUId Settlcmenl Agreent('l\t, he or she shall be responsible for any lUId all costs incurred to enforce the terms hereof, including, bllt not limited to, court costs and reasonable counsel fees of the other party. In the event of breach, the other party shall have the right, at his 01' her election, to sue for damages for such breach or to seek sudl other lUId additional remedies as may be available to him or her, 14, Enforcement, The parties agree that this marital settlement agreement or any part or parts hereof may be enforced in any court of competent jurisdiction, I S, Applicable Law and ElliCution, The parties hereto agree that this marital settlement agreement shall be construed under the laws ofthe Commonwea1th of Pennsylvania and shaD bind the parties hereto lUId their respective heirs. executors and assigns, This docwnent shaD be executed as orlginallUld multiple copies. 16. The Entire Agrflement. The parties acknowledge lUId agree that this marital settlement agreement contains the ootire understanding of the parties lUId supCflledes any prior agreement between them. 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