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HomeMy WebLinkAbout98-03303 , qr---- 3303 MARITAL. SETTLEMENT AGREEMENT THLf; A (,'REEMENT, made this2t day of -/21i2:jL ~_c_. 1999, by and between HOWARD j, COVER, JR. hereinaller referred to as "IHJSBAND", and CAROLE L, COVER, hereinafter referred to as "WIFE", WITNESSETH, Thnt: WHEREAS, the parties hereto are husband nnd wife, having been lawfully joined in marriage on August 5, 1961, in Harrisburg, Dauphin County, Pennsylvania; WHEREAS, there are no minor children of this marriage; WHEREAS, it is the intention of the parties to settle fully and tinnily their respective financial and property rights and obligations as between each other arising out of the marriage relationship or otherwise, including without limitation (I) the settling of all matters between them relating to the ownership of real and personal property; (2) the settling of all matters between them relating to the past, present and future support and/or maintenance of HUSBAND and WiFE; and (3) the settling of all matters between them relating to any and all rights, titles and interests, claims and possible claims in or agninst the estate of the other, NOW THEREFORE, with the foregoing recitals being hereinaller incorporated by reference and deemed an essential part hereof in consideration of the foregoing recitals, the mutual promises, covenants and undertakings herein set forth, and for good and valuable consideration, receipt of which is hereby acknowledged by each of the parties hereto, HUSBAND and WIFE, each intending to be legally bound hereby, covenant and agree as follows: t. t\DVICE OF CotJNSn HUSBAND and WIFE declare thai they have each had a full and fair opporlllnity to obtain independent legal advice of counsel of their selection, has been independently represented by Barbara Sumple-Sullivan, Esquire, WIFE is cognizant of her right to legal representation IInd declares that she has been independently represented by Bradley L, Grillie, Esquire, Each party further declares that th()y are executing this agreement freely and voluntarily, having obtained such knowledge and disclosure of there legal rights and obligations and that they acknowledge that this agreement is fair and equitable and is not the result of any fraud, coercion, duress, undue influence or collusion, 2. PERSONAL RIGHTS HUSBAND and WIFE may and shall, at all times hereafter, live separllte and apart, Each shall be free from all control, restraint, interference or authority, direct or indirect, by the other in all respects as if she or he were unmarried, except as may be necessary to carry out the provisions of this Agreement. Each may reside at such place or places as she or he may select. Each may, for his or her separate use or benefit, conduct, carryon and engage in any business, occupation, profession or employment which to him or her may seem advisable, This provision shall not be taken, however, to be an admission on the part of either HUSBAND 01' WIFE of the lawfulness of the causcs which led to, or resulted in, the continuation of their living apart. HUSBAND and WIFE shall not molest, harass, or malign the other or the respective families of each other, nor compel the other to cohabit or dwell in any manner with him or her, nor in any way interfere with the peaceful existence, separate from each other. 2 3. DEBTS Each party represents that they have not contracted any debt or liability for the other lor which the estate of the other party may he responsible or liable cxcept as otherwise provided herein, and that except only for Ihe righls arising out of this Agreement, neithcr party will hereafl(1r incur any liability whatsoever for which the othor party or the estate of the other party will be liable. Each party agrees to indemnity and hold harmless th)111 and against all future obligations of every kind incurred by them, including those for necessities, 4. WAIVERjlf APPRAISAL AND INVENTORY The parties acknowledge and agree that they have each had an opPof1unity to value or have appraised any and all marital property, and they do hereby waive a formal appraisal and inventory of same, and no statement or representation by either party as to value shall be deemed a misstatement or misrepresentation to the other or be deemed tl'audult1nt, 5, MARITAL AND..NQN.:M.ARITAL ASSnS HUSBAND and WIFE do he-reby acknowledge that they have heretofore divided t.he non- marital assets and marital assets including but without limitation, jewelry, clothes, furniture and other assets wherevefsituated whether real, personal or mixed, tangible or intangible, HUSBAND agrees thllt except as set forth on Exhibit "A", all assets in the possession of WIFE shall be the sole and separate property of WIFE, Additionally, IIUSBAND shall return the following items to WIFE within thirty (30) days of execution of this Agreement: a. Keys to Wall Gun Cabinet; 3 solely responsible for all expenses and debts associated with this property pending its sale, This includes but is not limited to any mortgages, home equity loans, taxes, insurance, utilities, etc. Upon sale, all net proceeds from the sale of this property shall be paid to WIFE, WIFE agrees to indemnifY and hold HUSBAND harmless from all such expense,q and debts. WIFE shall also be responsible for all HUSBAND's attorney's fees incurred in defense of any claim or suit brought against him arising from said debts or to enforce this indemnification, 7, REAL,ESTATE - TIOGA COUNTY The parties jointly own property located at Shinhollow Road and Asaph Road, Gaines, Tioga County, Pennsylvania, Said house is encumbered by a mortgage in the amount of approximately $7,500.00 with a monthly payment 01'$291.86 per month, The parties agree that HUSBAND shall transfer all his rights, title and interest in said real estate to WIFE, WIFE shall be solely responsible for all debt and expenses associated with this property, This includes but is not limited to any mortgages, home equity loans, taxes, insurance, utilities, etc, WIFE agrees to indemnifY and hold HUSBAND harmless from all such expenses and debts, WIFE shall also be responsible for all HUSBAND's attorney's fees incurred in defense of any claim or suit brought against him arising from said debts or to enforce this indemnification, However, it is noted that if title to this property shall transfer within three (3) years from the execution of this Agreement, WIFE shall pay HUSBAND the sum of Fifteen Thousand Dollars ($15,000,00) immediately upon such transfer, If HUSBAND dies before said transfer, this lump sum payment by WIFE is void and there shall be no claim by HUSBAND's estate, WIFE shall either refinance or satisfY the mortgage associated with this property within 5 ,ninety (90) from the execution of this Agreement. If WIFE fails to obtain HUSBAND's release ll'om the mortgage associated with this pl'Opeliy within ninety (90) days, WIFE shall immediately IIslthe property for sale, HUSBAND shall execute a deed relinquishing his interest in said property within ten (10) days upon presentment by WIFE. Said deed shall be held in escrow by HUSBAND's attorney until HUSBAND is released from the mortgage associated with this property HUSBAND further agrees to reimburse WIFE one-half (1/2) of the actual cost of the appraisal of said Tioga property, 8. MOTOR VEHICLES WIFE shall have sole title and ownership of the parties' 1995 Honda Accord LX. HUSBAND shall have sole title and ownership of the parties' 1993 Ford Ranger, WIFE's vehicle is encumbered but said lien is scheduled to be satisfied on 01' about the execution of this Agreement, WIFE agrees to indemnity and hold HUSBAND harmless for said debt. WIFE agrees to be responsible for all HUSBAND's attorneys' fees incurred in defense of any claim or suit brought against him arising from said debts or incurred to enforce this indemnification. The parties agree that HUSBAND shall retain the parties' boat and trailer. There are no liens associated with this. The parties uBree to execute whatevei' documents necessary to effectuate these transfers, 9. PENSION Each party hereby waives any and all c1uims that he or she may have against the other to 6 this agreement in lieu of and in full and final settlement and satisfaction of all claims and demands that either may now or hereafter have a!jainst the other for equitable distribution, alimony, alimony pendente lite, counsel fees, costs and expenses or other provisions for their support and maintenance before, during and after the commencement of any proceeding for divorce or annulment between the parties, 14. t\FTERACQ\LlRED PERS.QNAL PROPf,RTY/FIJTlJRE EARNINGS Each of the parties shall hereafter own and enjoy independently of any claim or right of the other, all items of personal property, tangible or intangible, hereafter acquired by HUSBAND or WIFE, with nlll power in him or her to dispose of the same as fully and etlectively, in all respects and for all purposes, as though he or she were unmarried. 15. ALIMONY. SUPPORT t\ND MAINTENANCE Both parties acknowledge and agree that the provisions of this Agreement providing for equitable distribution of marital property arc fair, adequate and satisfactory to them and arc accepted by them in lieu of and in full and final satisfaction of any claims or demands that eith",r may noW or hereafter have against the other for sUPPoli, maintenance or alimony, HUSBAND and WIFE further, voluntarily and intelligently, waive and relinquish any right to seek from the other any payment for spousal support, alimony and maintenance, 16. SIDlSJ;OUENT DIVORCE A decree in divorce, entered by a court of competent jurisdiction to either party, shall not 8 . \ suspend, supersede or affect the terms of this Agreement Simullaneous with execution of this Agreement, both partios agree to execute all papors necessary to enter n Consent Decree concerning the provisions of this Agreement in the Court of Common Pleas ofCumberlnnd County, Pennsylvania, or any other Court of competent jurisdiction, as a palt of a resolution of any divorce action filed, This Agreement, and the terms and conditions contained herein, as well as the enforcement of said terms and conditions, sh~.lI hI) contingent upon the granting of a Divorce Decree to either palty by the Court of Common Pleas of Cumberland County, Pennsylvania, or any other Court of competent jurisdiction. Both parties hereto agree that this Agreement may be incorporated into a separate Court Order but shall not merged in such order in the Court of Conlin on Pleas of Cumberland County, Pennsylvania, 17. OTHER DO.cIlME!frA:t:lilll HUSBAND and WIFE covenant and agree that upon request of the other party, they will forthwllh execute and deliver to the other party. any and all written instnlments, assignments, relellses, satisfactions, deeds, notes or such other writings as may be necessary or desirable for the 18, MUTUAL WAIVER AND RELEASE OF RIGHTS ANI) CLAIMS IN ESTATE I I ~ It f ,r.l proper effectuation of this Agreement, Each party hereby releases, waives and relinquishes any and all rights which he 01' she may now have, 01' may hereafter have, against the other party \lnder the present or future laws of any jurisdiction (a) to share in the estate of the other party upon the other party's death and (b) to act ,'j I as executor/rix or administrator/rix of the other party's estate, 9 , \ 19. MJJ.TUAL REl&SE HUSBAND and WIFE cach do hcrcby mutually ren1i~e, release, quitclaim and forever discharge the other and the estate of such other, tllr all time to come, and Illr all purposes whatsoever, of and from any and all rights, title and interests, or claims in or against the property (including income and gain from property hereafter accruing) of the other 01' against the estate of such other, of whatever nature and wheresoever situate, which she or he now has or at any lime hereafter may have against such other, the e~tate of such other or any part thereof, whether arising out of any former nets, contracts. engagements or liabilities of such other or by way of equitable distribution, dower or courtesy, or claims in the nature of dower or courtesy of 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, cOlllmonwealth or territory of the United States, 01' (c) any other country, 01' and rights which HUSBAND 01' WIFE may have or at any time hereafter have for the past, present 01' future support or maintenancl' limony, alimony pendente lite, counsel fees, costs or expenses, whethcr arising as a result vi thc marital relation or otherwise, except, and only except, all rights and Agreemerlts and obligations of whatsoever lIature arising 01' which may arise under this Agrecment 01' for the breach of any thereof. Each of the parties hereto further covenants and agrees Illr himself and herself and his or her heirs, executors, administrators and assigns, that hc or she will never, at any time hcreafter, 10 sue the other party or his 01' her heirs, executors, administrators and us signs, for the purpose of enforcing any of the rights rolin<)uished undor this parugraph, Each of the parties further covenants and agrees that he 01' she will permit uny will of the other to be pl'Obuted and allow administration upon his or her personal, real or mixed estate und allow etlects to be taken out by the person 01' persons who would have been entitled to do so had HUSBAND or WIFE died during the lifetime of the other. Each of the parties hereby releases, relinquishes and waives any and all right to act as executor or executrix or administrator 01' administratrix of the other's estate, It is the intention of HUSBAND and WIFE to give to each other by the execution of this Marital Settlement Agreement a filII, complete and general release with respect to any and all property of any kind or nature, real, persona.l 01' mixed, which the other now owns or may hereafter acquire, except and only except all rights and Agreements und obligations of whatsoever nature arising or which may arise under this Agreement or for the breach of any thereof. 20. SUCCESSOR'S RIGHTS AND LIABILITIES This Agreement shall, except as otherwise provided herein, be binding upon and inure to the benefit of the parties hereto, their respective heirs, executors, administrators, successors or assigns, 21, SEVERABILITY If any provision in this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall nevertheless continue in full force and effect without being impaired or invalidated in any way II .' 22. ENTIRE AGREFMIlliI HUSBAND and WIFE do hereby covenant and warrant that this Agreement contains all ofthe representations, promises and Agreements made by either of them to the other for the purposes set forth in the preamble hereinabove; that there are no claims, promises or representations not herein contained, either oral or written. which shall or may be charged or enforced or enforceable unless reduced to writing and signed by both of the parties hereto, 23. BINDING EFFECT OF AGREEMf!~NTIWAIY.EB This Agreement shall remain in full force and el1ect unless and until terminated under and pursuant to the terms of this Agreement. The failure of either party to insist upon strict performance of the provisions of this Agreement shall not be construed as a waiver of any subsequent default of the same or similar nature, nor shall such failure be construed as a waiver of any other term, condition, clause or provision of this Agreement, 24. BREACH If either party breaches any provision of this Agreement. the other party shall have the right, at his or her election, to slle for damages for slIch breach or seek such other remedies or relief as may be available to him or her, and the party breaching this contract shall be responsible for payment ofreasonable legal fees and costs incurred by the other in enforcing their rights under this Agreement. 12 . co, ~ - .. ~ ~:$ ! E (.) ~1:' d 2~ '~ ~ ..... ,,,u, I .;'J& IN ~ ~~ ~ g:: .~ .~ mi. " 'r " 'I, , " , I " i" " , " ~. I , . '>,' , " "- '; ~ 'i . ~ .,. w. r ~ "~"i' ,~.~ . d- >- ("I ~ f.!.: C;~ '. r'.:- ,,~~ r' d'1 " ~ ..c. ~.II, 2C; , ~.... H"' CL. _. 1'1 f-~': 'l~f: ~,I I(,-~ I __.,l_ '-:fE~" I....! (\-- ;? l'Ii--d " [11, "'.J ;'!!.L t'~.) , ~:> 0) ~::l; "- U~ I.) " , '. ! " '-- ~- ,~ I. , ,,, ,I '~-; /, " '-f ~ ..~ . , t.- ,I ~ fl ~ ($ i S 3 ~ ,~' ~I'II, . ~ :I g , . ::) - 'ill i 8 I .1: " 1/ ',0 ,I, -I,; 'j " ,-j.' ! P) ~ - (.; :~ ~ d ! i ,I - I ~ ~ ~. ~ ~ a. "j 'f " '; ~ ' , u ;, " , ',I, H , !, i', " F ,p. ",-1 ',,- , " 'f! '" ~ -, .'... ~. . , I, " " ',1 , ?f ......) (:; - f". ., ~~ 1J.l9 ......, (~) t;,. t)'1C, if: '- .;: fF~.' lj" ('Jt:l '. @ ,J ".i. t) f... I/J.. I ,(1". Cfl" ;;e ~rE ":J.. ~ f-, .., "'j cr. ~ c C1\ () '. w (<) ~ f-' .. -;)<r ~Jt? C"I ()5l 't"o :r:: I:)...." ::fi f"r:' a.. C)~ l~b m~ f,- ~l_ I WI,' :-..}U! ;z: U'; "1" :::J f -, a t5 O"l 0'\ , , " >- PI ~ 0'; r .. "5 !"I2 M R;.'Ji f1;( , x: C:j: J? Q. I") :-:'l C\:, ,- :;::, @" - ';Sf!> IJ I ci ~ ftll,! ~ ilIff! r.:: .., W t1. g: ~ 0 " . ., . 1i; M ~ <0; - "" ~9 .. ::S<:r M u;9 f~ :c: C.}~I a.. (') ;:3 -~... to... CJ - ~:r.~1 (]~ {J. I ..Jl!,io .U.J ;e rh~ il: :=J ~Q -, !5 CI'\ :5 CI'\ (J . ; . . 1 tj . .... ..-\ II. Do you own a motor vehicle or any interest in a motor vehicle either individually or jointly with another person 01' entity? If so, state as to each such vehicle; a. The make, model, year, color, and serialllumber of the motor vehicle; b. Whose name appears on the registration 01' title certificate; c, The location and cmrent custodian of the motor vehicle; d, The purchase price of the motor vehicle; e, Is there an encumbrance on any vehicle and. ifso, state the name of the lien holder, current halance owing, and the date same is to be satisfied; and [ The market value of the motor vehicle, a, 1995 Honda Accord LX b, Carole L. Covel' c, Carole L, Cover d, $19,000,00 e, Chase Automotive Finance $832,60 May 15, 1999 f, Unknown a, 1993 Ford Ranger Truck b. Howard J, Cover, Jr, and Carole I" Cover c. Howard.J. Cover, Jr. d . $19,000,00 e. None f, Unknown 12, Do you own 01' Illaintain any savings 01' checking accounts, certificates of deposit, money market accounts, mutual fund accounts, or IRA 01' Keogh accounts, either individually, jointly with another individual 01' entity, or in the name of any entity in which you have any ownership interest or other involvement? lf so, as to each such account 01' certificate state: a. The identity of the institution in which you have the account; b, The balance in each account as of the date of separation; c. The title and number or identifying reference "I' the account 01' certificate; d, The identity of any joint owner of the account 01' certificate and the nature of youI' joint ownership; e, The nature of the account 01' certificate; f. The purchase price of the cellificate; g, The dates and amounts of YOUI' deposits or contributions for the last two (2) years; h. The dates and amounts of YOUI' withdrawals for the last two (2) years; and 1. The current balance of the account 01' value of the certificate, IRA Mass MlItl!at $13,783,77 8-403-450 No deposits and no withdrawato over the past 2 years See question No. 17 and prior reoponses, 7 20, Are you the owner 01' bcneficiary 01' any policies of life insurance, For each such policy, state: a, The namc of each owner of such policy; b. The name of the benet1cillry of each such policy; c. Thc face amount of ellch such policy; d. The accrued cash value of each such policy; e, The datc each policy was purchllsed; f. Whether the policy was whole. life 01' term life; IInd g, The nature IInd II1ll0unt of any loan against any policy. the disposition of the proceeds from the loan and the date said loan was incurred, a. Carole L. Cover b, ~oward ", Covel', Jr. c. $10,000,00 d. $2,504,10 e. 1/07/83 f. Whole Life g. None 21. Do you own or have any interest in any other assets not already disclosed? If so, please identilY same, the estimated value, and identilY its current location? None 11 :l5, Regllrding the withdf'llw specified below fimn Members First Federal Credit Union Account No 4129J, plellse advise of the purpose of the withdrawal, the disposition of the IIssets withdrawn, L~ Amount a, 6/01/98 $ 500,00 b. 6/04/98 600,00 c. 6/09/98 480,00 d. 6/10/98 7,000.00 a, Lakeside Marine for repairs to boat in Plaintiff's pOBsesaion, b, Oary Wray [or work/repairs to garage at marital residence, c, Payment on Members 1st VISA account, d, Funds removed by Defendant when Plaintiff notified her he was leaving her for an adulterou3 relationship and had removed funds, 26, Please indicate the date and method of payment for the June II'" Cabin payment. Identity: a. The bank from which the Ilmds were pllid. b. The source of the funds underlying the payment lI'om said account on June II'" (e,g., wife's salary, transfer from other account, etc,) Members lot f'CE Wlfes Salary check U490 Dated: February 23, 1999 BarBara Sumple-Sullivan, Esquire Attorney for Plaintitl' 549 Bridge Street New Cumberland, P A 17070-1931 (717) 774-1445 SupremeCoul'lI.D, No, 32317 Date Answers are due: Mlll'ch 25, 1999 1 3