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HomeMy WebLinkAbout98-03170 I....,.-'"'....-~ " . , )W.ARRIAGE SETIUMENT AGREEMENT TInS AGREEMENT is made and entered into between Heather p, Barley, and Stephen D. Barley, hereinafter referred to as Husband and Wife. The parties were married on September 24, 1994 and there are no children born or adopted of their marriage, to wit. As a consequence of disputes and unhappy differences, the parties have separated. The partles desire to confirm their separation and make arrangements in connection therewith, including the settlement of their property rights, support, and all other rights and obligations arising out of the marriage relationship. It is therefore agreed: 1. CONSIDERATION The consideration for thls Agreement is the mutual piOmises and agreements herein contained, 2. SEP ARA nON AND NONINTERFERENCE A. It will be lawful for each party at all times hereafter to live separate and apart from the other party at such place or places as he or she may from time to time choose or deem fit. B. Each party shall be free from interference, authority and control, direct or inqirect, by the other, as fully as Ifhe or she were single and unmlllTied. Neither shall bother the other or compel or endeavor to compel the other to cohabit or dwell with him or her. . 3 . MUIU AL RJl.1E..t\SE Subject to the provisions of this Agreement, cach party has released and discharged, and by this Agreement does for himself or herself, and his or her heirs, legal represcntatives. cxecutors, administrators, and assigns, release and discharge the other of and from all causes of action. claims, rights, or demands whatsocver, in law or equily, which either of the parties ever had or now has against the other, except any or all cause or causes of action for divorce. 4. ELJbL!2LSCLQSJJIU~ The provisions of this Agreement and their legal effect are fully understood by each party to this Agreement, and each party acknowledges that the Agrccment is fair and equitable, that it is being entered into voluntarily, and that it is not the result of any duress or undue influence. Husband and Wife each represent and warrant 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 such party has an interest, of the sources and amount of the income of such party of every type whatsoever, and of all other facts relating to the subject matter of this Agreement. Wife acknowledges that she was represented by Kathleen Carey Daley, Esquire, in reaching this Agreement, and Husband acknowledges that he was represented by Mark C. Duffie, Esquire, in reaching this Agreel11entBoth parties represent that the terms of this Agreement have been fully explained to them by their respective counsel. , 5. B.Q!.1ITAIllJUJIVISION By thi~ Agreement. the parties have intended to effect an equitable division of their marital property. Thls division is not intended by the parties to constitute in any way a sale or exchange of assets, 6. SUBSEOUENT DIVORCE A. AGREEMENT NOT 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 not predicated upon nor made subject to any agreement for institution, prosecution, defense. or for the non-prosecution or non-defense of any action for divorce; provided, however, that 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, or 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 thls warranty, covenant and representation is made for the specific purpose of inducing Husbllnd and Wife to execute the Agreement. Husband and Wife each knowingly and understandingly hereby waives any and all possible claims that this Agreement is, for any reason, illegal or for any reason whatsoever. unenforceable in whole or in part. Husband and Wife each do hereby "'arrant, covenant and agree that, in any possible 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. B. ENTRY AS PART OF DECREE. It is the intention of the parties that the Agreement shall survive any action for divorce which may be instituted or prosecuted by either party and no order, judgment or decree of divorce, temporary, final or permanent, shall alTe~,t 01' modify the financial terms of this Agreement. This Agreement shall be incorporated in but shall not merge into any such judgment or decree of final divorce, but shall be incorporated for the purposes of enforcement only. C. MUTUAL CONSENT DIVORCE. The parties agree and acknowledge that their marriage is irretrievably broken, that they do not desire marital counseling, and that they both consent to the entry ofa decree in divorce pursuant to 23 Pa.C.S.A. Section 3301(c). Accordingly, both parties agree to f0l1hwith execute such consents, affidavits, or other documents and to direct their respective attorneys to forthwith file such consents, affidavits, or other documents as may be necessary to promptly proceed to obtain a divorce pursuant to said 23 Pa.C.S.A. Section 3301(c), Upon request, to the extent permitted by law and the applicable Rules of Civil Procedure, the named defendant in such divorce action shall execute any waivers of notice or other waivers necessary to expedite such divorce. 7. DIVISION OF PERSONAL PROPERTY Wife agrees that all of the property in the possession of Husband shall be the sole and separate property of Husband; and Husband agrees that all of the property in the possession of Wife shall be the sole and separate property of Wife. The parties do hereby specifically waive, release, renounce and forever abandon whatever claims, if any, he or she may have with respect to the above items which shall become the sole and separate property of the other. 8. lli'llSlQr-.LQ.I'.MQTOR VEHICLES With respect to the motor vehicles owned by one or both of the parties, they agree as follows: The vehicle currently in the possession of Husband shall become the sole and separate property of Husband. Husband agrees to refinance the loan on this vehicle so as to remove Wife's name from this debt. The titles to the said motor vehicle shall be executed by the parties, if appropriate, for effectuating transfer as herein provided, on the date of execution of this Agreement or at any time thereafter at the request of either party. 9. DI~POSITION OF P~OPERTY From and after the date of the signing of this Agreement, both parties shall have complete freedom of disposition as to his/her separate property and any property which is in their possession or control pursuant to thls Agreement and may mortgage, sell, grant, conveyor otherwise encumber or dispose of such propcrty, whethcr real or personal, whether 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. 10. DIVISION OF REAL PROPERTY Husband and Wife hereby agree and acknowledge that they own certain real property located at 120 East Coover Street, Mechanicsburg, Pennsylvania 17055, as tenants by the entireties, Wife hereby agrees to convey all her right. title and interest in said property to Husband. Wife . agrees to execute a deed or other instrument of conveyancing necessary to ellectuate this transfer at the time of the execution of this document. The parties acknowledge that there is an existing m0l1gage against this property held by Huntington Mortgage Company In the approxzimate amount of $88,000.00. Husband agrees to obtain refinancing of this debt to satisfY Wife's obligations under this loan. Husband shall begin the refinancing process immediately upon execution of this document and shall have Wife's obligation satisfied within 90 days of the date of the execution of this agreement. In the meantime, Husband shall hold Wife harmless and indemnify her from liability for this mortgage obligation and other obligations arising from this property. II. PAYMENT OF SPECIFIED OBL.!QA TIONS The parties agree that they have divided all joint marital obliglltions to their mutual satisfaction and .that all joint credit accounts will be cancelled or discontinued by the pal1ies. 12. .LEGAL..fliliS Each party shall pay his or her own attorneys fees. 13. ALIMONY Both parties acknowledge and agree thaI the provisions of this Agreemllnt providing for equitable distribution of marital property are fail', adequate and satisfactory to them and are accepted by them in lieu of and in full and flnul settlement and satisfaction of any claims or demands that either may now or hereafter have against the other for support, maintenance, alimony pendente lite or alimony. Husband and Wife further, voluntarily and intelligently, waive and relinquish any right to seek from the other any payment for support, maintenance, alimony pendente lite or alimony. 14. PENSION PROGRAM Except as provided herein each party hereto shall maintain sole ownership over his or her individual pension plan, profit sharing or similar retirement plan acquired individually 01' as the result ofcontributlons by his or her employer. Husband agrees to transfer $6,000.00 from his T1AA-CREF account to an IRA account in Wife's name. This transfer shall be made pursuant to a Qualified Domestic Relations Order ami shall be a non-taxable transfer. As to all other benefits Wife hereby releases any interest that she has in the retirement bencfits of Husband accumulatcd as the result of his employment by Dickinson College and any othcr additional benefits he may have accrued. Husband hereby releases any interest that he has in the retirement benefits of Wifc accumulated as the result of her employment by Searle Laboratories and any other additional benefits she may have accrued. 15. MISCELLANEOUS The parti'.ls agree that at the time of execution of this Agreement, Husband shall pay to Wife the sum ofTwenty-four Thousand ($24,000.00) Dollars. The parties acknowledge that Wife owned stocks prior to this marriage. In consideration of the mutual agreements and promises contained herein, Husband waives any interest in these stocks that he may have. . . All assets including, but not limited to, savings accounts, checking accounts, certificates of deposit, stocks and life insurance policies shall be the sole and separate property of the title holder of said asset, howver, the panies agree that any amounts remaining in the joint savings account shall be Husband's sole and separate propeny. The parties believe and agree, and have been so advised by their respective attorneys, that the division ofpropeny heretofore made by this Agreement is a non-taxable division of property between co-owners rather than a taxable sale or exchange of such property. Each party promises not to take any position with respect to the adjusted basis of the property assigned to Itim or her or with respect to any other issue whic~ is inconsistent with the position sct fonh in the preceding sentence on his or her federal or state income tax returns. The panies have heretofore filed joint federal and state tax returns. Both parties agree that in the event any deficiency in federal, state or local income tax is proposed, or any assessment of any such tax is made against either of them, each will indemnitY 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 the cause of the misrepresentations or failures to disclose the nature and extent of his or her separate income on the aforesaid joint returns. 16. GENERAL PROVISIONS A. WARRANTY AS TO EXISTING OBLIGATIONS - Each pany represents that they have not heretofore incurred or contracted for any debt or liability or obligation for which the estate of the other pliny may be responsible or liable except as may be provided for in this Agreement. Each party agrees to indemnify or hold the other party harmless from and against any and all such debts, liabilities, or obligations of every kind which may have heretofore been incurred by them, including those for necessities, except for the obligations arising out of this Agreement. B. WARRANTY AS TO FUTURE OBLIGATIONS - Wife and Husband each covenant, warrant, represent, and agree that each will now and at all times hereafter save harmless and keep the other indemnified rrom aU debts, charges, and liabilities incurred by the other after the executi0n date of this Agreement, except as may be othelwise specificaliy provided for by the terms of this Agreement and that neither of them shall hereafter incur any liability whatsoever for which the estate of the other may be liable. C. SEVERABILITY -Ifany term, condition, clause, or provision of this Agreement shall be determined or declared to be void or invalid in law 01' otherwise, then only that ternl, 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 obligations under anyone or more of the paragraphs herein, with the exception of the satisfaction of the conditions precedent, shall in no way void or alter the remaining obligations of the parties. D. OTHER DOCUMENTATION - Wife and Husband 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 effectuation of this Agreement, and as their respective counsel shall mutually agree should be so executed in order to carry out fully and effectively the terms of this Agreement. E. ENTIRE AGREEMENT. This Agreement contah13 the entire understanding ofthll parties, and there are no representations, warranties, covenants, or undertakings other than those elfpressly set forth herein. F. WAIVER OR MODIFICATION TO BE IN WRITING .1-10 modil1cation or waiver of any of the terms hereof shall be valid unless in writing and signed by both parties lInd no waiver of any breach hereof or default hereunder shall be deemed a waiver of any subsequent default of the same or similar nature. G. MUTUAL COOPERATION. Each party she.!l, at any time and from time to time hereafter, take any and all steps and elfecute, acknowledge, and deliver to the other party any and all further instruments and/or documents that the other party may reasonably require for the purpose of giving full force and effect to the provisions of this Agreement. H. LAW GOVERNING. This Agreement shall be construed and govemed in accordance with the laws of the Commonwealth of Pennsylvania. I. BINDING EFFECT. Except as otherwise stated herein, this Agreement shall be binding and shall inure to the benefit of the parties hereto and their respective heirs, executors, administrators, successors, and assigns. 1. NO WAIVER OF DEF AUL T . This Agreement shall remain in full force and effect unless and until terminated under and pursuan: to the terms ofthis Agreement. The failure of either party to insist upon strict performance of any of the provisions of this Agreement shall in no way affect the right of such party hereafter to enforce the same, nor shall the waiver of any breach of any provision hereof be construed as a waiver of any subsilQuent default of the same or similar nature, nor shall it be construed as a waiver of strict performance of any other obligations herein. .., ' ,I K. HEADINGS NOT PART OF AGREEMliNT. Any heading preceding the text oflhe several paragraphs and Ruhparl\graphs hereof arc inserted solely for convenience or rllference and shall not constitute a pnrt of this Agreement nor 9hall they ntlcct its meaning, constmction, or effect. L. ADDRESS OF PARTIES. Each party shall at all timlls keep the other informed of his or her place of residence, lmd shall promptly notily the other of any change, giving the address of the new place of residence until all ohligations under this agreement have been satisfied. M. WAIVER OF CLAIMS AGAINST ESTATES. Except as herein otherwise provided, each party may dispose of his or her property in any way, and each party hereby waives and relinquishes any and all rights he or she may have or hereafter acquire, under the present or future lawn of Pennsylvania or another jurisdiction, to share in the property or the estate of the other as a result of the marital relationship, including, without limitation, dower, curtesy, their statutory equivalents, widow's allowance, homestead rights, right to take in intestacy, right to take against the will of other, and right to act as administrator or eXeC\ltor of the other's estate, and each party will, at the request of the other, execute, acknowledge, and deliver any and all instillments which may be necessary or advisable to carry into effect this mutual waiver and relinquishment of all such interests, rights and claims. N. ATTORNEY'S FEES FOR ENFORCEMENT. In the event that either party breaches any provision of this Agreement, and the other party retains counsel to assist in enforcing the terms thercof. the parties hereby agree that the breaching party will pay all reasonable attorneys' fees, court costs, and expenses incurred by the other party in enforcing the Agreement. i,: ~~, I' (." ~ i " . l;d ,\J ( I , I'j~ I; Lt, ( , , , I"l t:'; . tJ'. I , II I.,. f l.. t. , i t., lJ.. (Q .I C.) Cl~l I.) ~.>-~ ~:'I' [\.: <.,~ , "'r ".n .. ) - 1,,( \ N ) ('/" ;<) i ref {ISI Ct, 7 ' '" C'" ~I j i.l I n!/i I~ L!nJ f <. J' , [''ft. U 1-1., (,n -.> 0 0' u ,..... ..:.1' ,. ('" , '-; (f; t.-.,~ r':o >' N , , I , t: f",:~ ~ . ...-.., I. .,<,-, U (;\.-.. l".~ r I.{, (. in (,1' I U1' , ~:,_II ' I.. _! d U. L! , , .I " e;,; II. (~tJ :) 0 CiI ()