HomeMy WebLinkAbout01-2817 FX
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IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY
STATE OF
PENNA.
ROBERT S. GOODRICH.
Plaintiff
NO.
01-2817
CIVIL TERM
VERSUS
KATHY J. GOODRICH,
Defendant
DECREE IN
DIVORCE
AND NOW,
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DECREED THAT
ROBERT S. GOODRICH
, PLAINTIFF,
KATHY J. GOODRICH
AND
, DEFENDANT,
ARE DIVORCED FROM THE BONDS OF MATRIMONY.
THE COURT RETAINS JURISDICTION OF THE FOLLOWING CLAIMS WHICH HAVE
BEEN RAISED OF RECORD IN THIS ACTION FOR WHICH A FINAL ORDER HAS NOT
YET BEEN ENTERED;
Further, the Matrimonial Settlement Agreement executed by the
parties on January 31, 2002 is incorporated into said Decree.
The parties are ordered to comply with the terms of said
Agreement.
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ATTEST:
PROTHONOTARY
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County of PH~ifi* Cumberland
DIVORCE INFORMATION SHEET
Pursuant to Act 2001- 82 , Vital Statistic Forms are not
required effective January 1,2002. However, the Prothonotary is
required to provide the following information, in lieu of the
Vital Statistics Form.
Please complete the appropriate information and file with the
Prothonotary.
Docket Number
01-2817 CIVIL TERM
Plaintiffs Name
. Robert S. Goodrich
.
Plaintiffs Social
Security Number
268-40-0561
.
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Defendant's Name : Kathy J. Goodrich
Defendant's Social
Security Number
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171-54-4944
Years Married
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10 - 14 ;
<5 ;
5-9 ;
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15 - 19 ;
20 - 24 ;
25 - 29 ;
30 +
Divorce Information Sheet
]/1/02
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: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
~ NO. C I - 2J'/7 c':..>l'L ~'VLh..
: CIVIL ACTION - LAW -. 1
ROBERT S. GOODRICH,
Plaintiff
KATHY 1. GOODRICH,
Defendant
: IN DIVORCE
NOTICE TO DEFEND AND CLAIM RIGHTS
You have been sued in court. If you wish.to defend against the claims set forth in
the following pages, you must take prompt action. You are warned that if you fail to do
so, the case may proceed without you and a decree of divorce or annulment may be
entered against you by the court. A judgment may also be entered against you for any
other claim or relief requested in these papers by the Plaintiff. You may lose money or
property or other rights important to you, including custody or visitation of your children.
When the ground for the divorce is indignities or irretrievable breakdown of the
marriage, you may request marriage counseling. A list of marriage counselors is available
in the Office of the Prothonotary at:
CUMBERLAND COUNTY COURTHOUSE. 1 COURTHOUSE SOUARE.
CARLISLE. PENNSYLVANIA 17013.
IF YOU DO NOT FILE A CLAIM FOR ALIMONY, DIVISION OF
PROPERTY, LAWYER'S FEES OR EXPENSES BEFORE A DIVORCE OR
ANNULMENT IS GRANTED, YOU MAY LOSE THE RIGHT TO CLAIM ANY
OF THEM.
YOU SHOULD TAKE TillS PAPER TO YOUR LAWYER AT ONCE. IF
YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR
TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU
CAN GET LEGAL HELP.
CUMBERLAND COUNTY BAR ASSOCIATION
2 LIBERTY AVENUE
CARLISLE, PENNSYLVANIA 17013
TELEPHONE: (717) 249-3166
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ROBERT S. GOODRICH,
Plaintiff
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
v.
: NO.
CIVIL ACTION - LAW
KATHY J. GOODRICH,
Defendant
IN DIVORCE
NOTICIA
Le han demandado a usted en la corte, Si usted Quiere defenderse de estas
dcmandas expuestas en las paginas siguientes, usted tiene que tomar accion pronto. Sea
avisado que si usted no se defiende, la corte tomara medidas y un decreto en divorcio 0
anulacion puede ser entrado contract used por la corte. Una orden contra useted tambien
puede ser entrada por calquier queja 0 alivio que is pedido en la peticion de demanda.
Usted puede perder dinero 0 sus propiedades 0 otros derechos importantes para usted,
inclusivamente custodia 0 derecho a visitar sus hijos.
Quando el fundamente para el divorcie es indignidades 0 el ropimiento del
matrimonio, usted puede pedir aconsejo sobre su matrimonio. Una lista de consijeros es
disponible en la oficina del Protonotario en el :
CUMBERLAND COUNTY COURTHOUSE. 1 COURTHOUSE SOUARE.
CARLISLE. PENNSYLVANIA 17013.
Si usted no archiva en la corte enforma escrita su demanda para assistencia de
divorcio, division de propiedad, honorarios 0 costas para su abogado antes que la corte
entre una orden en divorcio 0 anulacion, usted puede perder su derecho a damandar
cualquiera de esto.
Lleve"esta demanda a un abogado 0 si no tiene el dinero suficiente de pagar tal
servico, vaya en persona 0 llame por telefono a la oficina cuya direccion se encuentra
estcrita abajo para averiguar donde se puede consequir asistencia legal.
CUMBERLAND COUNTY BAR ASSOCIATION
2 LIBERTY AVENUE
CARLISLE, PENNSYLVANIA 17013
TELEPHONE: (717) 249-3166
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IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
~ NO. O/-;J '1/"7 ~ ~..uv-
: CIVIL ACTION - LAW
ROBERT S. GOODRICH,
Plaintiff
KATHY 1. GOODRICH,
Defendant
: IN DIVORCE
COMPLAINT IN DIVORCE
UNDER SECTION 3301 (C) OR 3301(>>) OF THE DIVORCE CODE
AND NOW COMES the above named Plaintiff by his attorney, Gary L.
Rothschild, Esquire, and seeks to obtain a decree in Divorce from the above named
Defendant, upon the grounds hereinafter more fully set forth:
1. Plaintiff is Robert S. Goodrich who currently resides 2209 Canterbury Drive,
Mechanicsburg, Cumberland County, Pennsylvania 17055, having so resided since 2000.
2. Defendant is Kathy J. Goodrich who currently resides at 1775 Surmnerfield
Drive, Mechanicsburg, Cumberland County, Pennsylvania 17055, having so resided since
1994.
3. Plaintiff and Defendant have both been bona fide residents in the
Commonwealth for at least six months immediately previous to the filing of this
Complaint.
4. The Plaintiff and Defendant were married on December 26, 1988 in Florida.
5. Plaintiff has been advised of the availability of counseling and that he may
have the right to request that the court require the parties to participate in counseling.
6. There have been no prior actions of divorce or for annulment between the
parties.
7. The marriage is irretrievably broken.
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8. The Defendant is not a member of the Armed Services of the United States or
any of its allies.
9. The Plaintiff and Defendant are both citizens of the United States.
10. Plaintiff avers that there is one minor child of the parties.
WHEREFORE, the Plaintiff prays your Honorable Court to enter a Decree in Divorce
from the bonds of matrimony.
Respectfully submitted
Date: sh;bl
By:
Gar L. Rothschild, Esquire
Supreme Court I.D. No, 62041
3211 North Front Street, Suite 303
Harrisburg, P A 17110
(717) 221-8330
Attorney for Plaintiff
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VERIFICATION
I verify that the statements made in this Complaint are true and correct. I
understand that false statements herein are made subject to the penalties of 18 Pa.C.S. g
4904 relating to unswom falsification to authorities.
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, Robert S. Goodrich
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ROBERT S. GOODRICH,
Plaintiff
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
v.
: NO. 01 - 2817 (Civil Term)
: CIVIL ACTION - LAW
KATHY J. GOODRICH,
Defendant
: IN DIVORCE
ACCEPTANCE OF SERVICE
I, P. Richard Wagner, Esquire hereby accept service of Plaintiff's Complaint In
Divorce Under Section 3301 (C) or 3301 (D) Of The Divorce Code. I hereby certify that I
represent the above-captioned Defendant, Kathy 1. Goodrich, and further certify that I am
authorized to accept service on behalf of said Defendant.
Date: ~/r; ~/
MANKE WAGNER
HERSHEY & TULLY
2233 N. Front St.
Harrisburg, P A 17110
(717) 234-7051
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ROBERT S. GOODRICH,
Plaintiff
IN THE CO\JRT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
v.
: NO. 01 - 2817 (Civil Term)
CIVIL ACTION - LAW
KATHY J. GOODRICH,
Defendant
IN DIVORCE
AFFIDAVIT OF CONSENT
1. A Complaint in Divorce under g 330l(C) of the Divorce Code was filed on
May 9, 2001.
2. The marriage of Plaintiff and Defendant is irretrievably broken and ninety
(90) days have elapsed from the date of filing and service of the Complaint.
3. I consent to the entry of a final decree of divorce after service of notice of
intention to request entry of the decree.
I verify that the statements made in this affidavit are true and correct. I understand
that false statements herein are made subject to the penalties of 18 Pa.C.S. S 4904 relating
to unsworn falsification to authorities.
Date: I VI
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Robert S. Goodrich, Plaintiff
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ROBERT S. GOODRICH,
Plaintiff
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
v.
: NO. 0] - 2817 (Civil Term)
CIVIL ACTION - LAW
KATHY J. GOODRICH,
Defendant
IN DIVORCE
WAIVER OF NOTICE OF INTENTION TO REOUEST
ENTRY OF A DIVORCE DECREE
UNDER & 3301 (C) OF THE DIVORCE CODE
], I consent to the entry of a final decree of divorce without notice.
2. I understand that I may lose rights concerning alimony, division of property,
lawyer's fees or expenses if! do not claim them before a divorce is granted.
3. I understand that I will not be divorced until a divorce decree is entered by the
Court and that a copy of the decree will be sent to me immediately after it is
filed with the prothonotary.
I verify that the statements made in this affidavit are true and correct. I understand
that false statements herein are made subject to the penalties of 18 Pa.C.S. g 4904 relating
to unsworn falsification to authorities.
Date: ~ ,jl dJ,
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Robert S. Goodrich, Plaintiff
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ROBERT S. GOODRICH,
Plaintiff
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
v.
NO. 01 - 2817 (Civil Term)
CIVIL ACTION - LAW
KATHY J. GOODRICH,
Defendant
IN DIVORCE
AFFIDAVIT OF CONSENT
1. A Complaint in Divorce under ~ 3301(C) ofthe Divorce Code was filed on
May 9, 2001.
2. The marriage of Plaintiff and Defendant is irretrievably broken and ninety
(90) days have elapsed from the date of filing and service ofthe Complaint.
3. I consent to the entry of a final decree of divorce after service of notice of
intention to request entry of the decree.
I verify that the statements made in this affidavit are true and correct. I understand
that false statements herein are made subject to the penalties of 18 Pa.C.S. S 4904 relating
to unsworn falsification to authorities.
By: k
Kathy
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ROBERT S. GOODRICH,
Plaintiff
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
v.
: NO. 01 ~2817 (Civil Term)
: CIVIL ACTION - LAW
KATHY J. GOODRICH,
Defendant
: IN DIVORCE
WAIVER OF NOTICE OF INTENTION TO REOUEST
ENTRY OF A DIVORCE DECREE
UNDER ~ 3301 (C) OF THE DIVORCE CODE
1. I consent to the entry of a final decree of divorce without notice.
2. I understand that I may lose rights concerning alimony, division of property,
lawyer's fees or expenses if I do not claim them before a divorce is granted.
3. I understand that I will not be divorced until a divorce decree is entered by the
Court and that a copy of the decree will be sent to me immediately after it is
filed with the prothonotary.
I verify that the statements made in this affidavit are true and correct. I understand
that false statements herein are made subject to the penalties of 18 Pa.C.S. S 4904 relating
to unsworn falsification to authorities.
Date:
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ROBERT S. GOODRICH,
Plaintiff
: IN THE COURT OF COMMON PLEAS
: CUMBERLAND COUNTY, PENNSYLVANIA
v.
: NO. 01-2817 CIVIL TERM
: CIVIL ACTION - LAW
KATHY J. GOODRICH,
Defendant
: IN DIVORCE
PRAECIPE TO TRANSMIT RECORD
TO THE PROTHONOTARY:
Please transmit the record, together with the following information, to the Court for
entry of a Divorce Decree:
1. Ground for Divorce: 3301(c) of the Divorce Code.
2. Date and manner of service of the complaint: Acceptance of service by
Defendant'sattorney, P. Richard Wagner, Esquire on May 11,2001.
3. Date of execution of the affidavit of consent required by Section 3301(c) of the
Divorce Code: By Plaintiff 1/31/02 ; By Defendant 1/31/02.
4. Related claims pending: None.
5. Date Plaintiffs Waiver of Notice in ~3301(c) Divorce was filed with the
Prothonotary: 2/07/02;
Date Defendant's Waiver of Notice in S3301(c) Divorce was filed with the
Prothonotary: 2/07/02.
Dated: zj"'kc
G . Rothschild, Esquire
Sup. Ct.l.D. No. 62041
2215 Forest Hills Drive, Suite 35
Harrisburg, PA 17H2
(717) 540-3510
Attomey for Plaintiff
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MATRIMONIAL SETTLEMENT AGREEMENT
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THIS AGREEMENT, made this 31 day of r,"",,1ffU1 , 2002, by and between
KATHY J. GOODRICH, hereinafter referred to as "Wife" and ROBERT S.
GOODRICH, hereinafter referred to "Husband".
WITNESSETH:
WHEREAS, the parties hereto, being Husband and Wife were lawfully married
on December 26, 1988 in Florida; and
WHEREAS, there is one minor child of the parties, Samantha E. Goodrich, born
May 6, 1995; and
WHEREAS, Husband has commenced an action in divorce in the Court of
Common Pleas of Cumberland County, docketed to No. 01-2817 (hereinafter referred to
as the "Divorce Action") on May 9, 2001; and
WHEREAS, diverse and unhappy differences, disputes and difficulties have
arisen between the parties and it is the intention of Husband and Wife to live separate and
apart for the rest of their natural lives, and the parties hereto are desirous of settling fully
and finally their respective financial and property rights and obligations as between each
other including, without limitation 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 and future support,
alimony and/or maintenance of each other; and in general, the settling of any and all
claims and possible claims by one against the other or against their respective estate.
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NOW THEREFORE, in consideration of the premises and mutual promises,
covenants and undertakings hereinafter set forth and for other 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:
1. INCORPORATION OF PREAMBLE
The recitals set forth in the Preamble of this Agreement are incorporated herein
and made a part hereof as if fully set forth in the body of the Agreement.
2. AGREEMENT NOT A BAR TO DIVORCE PROCEEDINGS
This Agreement shall not be considered to affect or bar the right of Husband and
Wife to an absolute divorce on legal grounds if such grounds now exist or shall hereafter
exist or to such defense as may be available to either party. This Agreement is not
intended to condone and shall not be deemed to be condonation on the part of either party
hereto of any act or acts on the part of the other party, which have occasioned the
disputes or unhappy differences which have occurred or may occur subsequent to the date
hereof. The parties acknowledge that their marriage is irretrievably broken and that they
shall secure a mutual consent no-fault divorce pursuant to the terms of Section 3301 ( c)
of the Divorce Code. Each party shall execute an "Affidavit of Consent" and "Waiver of
Notice ofIntention To Request Entry of a Divorce Decree" upon the expiration of the
mandatory ninety (90) day waiting period.
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3. EFFECT OF DIVORCE DECREE
The parties agree that unless otherwise specifically provided herein, 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.
4. AGREEMENT TO BE INCORPORATED IN DIVORCE DECREE
The parties agree that the terms of this Agreement shall be incorporated into any
Divorce Decree which may be entered with respect to them and specifically referenced in
the Divorce Decree.
5. NON-MERGER
It is the parties' intent that this Agreement does not and will not merge with the
Divorce Decree, but rather shall continue to have independent contractual significance,
Each party maintains his or her contractual remedies as well as court ordered remedies as
the result of the aforesaid incorporation or as otherwise provided by law or statute. Those
remedies shall include, but not be limited to, damages, resulting from breach of this
Agreement, specific enforcement of this Agreement and remedies pertaining to failure to
comply with an Order of Court or Agreement pertaining to equitable distribution,
alimony, alimony pendent lite, counsel fees and costs as set forth in the Pennsylvania
Divorce Code or other similar statutes now in effect and as amended or hereinafter
enacted.
6. DATE OF EXECUTION
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. DISTRIBUTION DATE
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The transfer of property, funds, documents and/or any other thing or provided
herein shall only take place on the "distribution date" which shall be defined as the date
of execution of this Agreement unless otherwise specified herein.
8. FINANCIAL DISCLOSURE
The parties confirm that each has relied on the accuracy of the financial disclosure
of the other, as an inducement to the execution of this Agreement.
9. SEPARATION
Husband and Wife shall at all times hereafter have the right to live separate and
apart from each other and to reside from time to time at such place or places as they
respectively deem fit, free from any control, restraint, or interference whatsoever by the
other. Neither party shall molest the other or endeavor to compel the other to cohabit or
dwell with him or her by any legal or other proceeding. The foregoing provision shall not
be taken to be an admission on the part of either Husband or Wife of the lawfulness or
unlawfulness of the causes leading to their living apart.
10. DIVISION OF BANK ACCOUNTS, INVESTMENT ACCOUNTS &
JOINT STOCK HOLDINGS
A. Bank Accounts. The parties acknowledge that they have divided their marital
bank/credit union accounts to their satisfaction and that any bank/credit union
accounts held solely in individual names shall become the sole and separate
property of the party in whose name it is registered. Each party does hereby
specifically waive, release, renounce and forever abandon whatever right,
title, interest or claim he/she may have in the other party's respective
accounts.
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B. Investment Accounts. The parties acknowledge that they are the owners of the
following accounts and desire and agree to the following division of the same:
I. Oppenheimer Main Street account number 7011374516 with a current
balance of approximately $ 1,900.00. Wife shall maintain this account
for the benefit of the parties' minor child as needed in the future.
2. Oppenheimer Main Street account number 7012911326 with a current
balance of approximately $ 16,000.00. Wife shall maintain this
account for the benefit of the parties' minor child as needed in the
future.
3. Oppenheimer Main Street account number 7011882688 with a current
balance of approximately $ 16,000.00. Husband shall maintain this
account for the benefit of the parties' minor child as needed in the
future.
4. GoldenSelect Annuity account number IOOOI85-0Y with a current
balance of approximately $ 42,500.00. This account shall be divided
equally between the parties.
C. Life Insurance. The parties currently maintain various insurance policies as set
forth below. It is the parties agreement that these policies be retained by the
party indicated as follows:
1. Equitable Life ofIowa whole life policy number 0001860390, with an
account value of approximately $ 73,800.00 and a cash surrender value
of approximately $ 56,600.00 shall be retained by Husband.
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2. Equitable Life of Iowa universal life policy number U97879 with a
current value of approximately $ 16,200.00 and a cash surrender value
of approximately $ 11,300,00 shall be retained by Husband.
3. Equitable Life ofIowa whole life policy number 0001860389, with a
current value of approximately $ 28,500.00 and a cash surrender value
of approximately $ 24,200.00 shall be retained by Wife.
4. USG term life insurance policy number TU0002661 , with a zero cash
surrender value, shall be retained by Wife.
D. Stock Holdings. The parties acknowledge that they each are the owner of fifty
(50%) percent of MARKET SQUARE, INC. (hereinafter referred to as "the
corporation") and as such desire to continue to own said percentage
ownership. The parties have already or shall, contemporaneously with the
signing of this Agreement, sign an agreement entitled SHAREHOLDER
BUY/SELL AGREEMENT (hereinafter referred to as the "buy/sell
agreement"), a copy of which shall be attached to this Agreement as Exhibit
"A" and incorporated herein. This buy/sell agreement shall govern the
ownership, transfer and restrictions relating to the stock in the corporation and
such other restrictions, rights and obligations as set forth in the buy/sell
agreement.
11. DISABILITY INSURANCE. The parties currently maintain disability
insurance through their employer. The current monthly premium on Husband's
insurance is $ 250.00 greater than Wife's monthly premium. The parties mutually
agree that Wife shall receive this difference, which mayor may not change in the
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future, each month from their employer as a "draw" to equalize the parties'
payments.
12. AUTOMOBILES.
The parties agree that Husband and Wife each operate two vehicles (a
Jaquar and a Jeep) which are owned or leased by their employer. Husband and Wife
waive any and all claims to the vehicle operated by the other.
13. PERSONAL PROPERTY
The parties agree that Husband shall receive the "clock collection" consisting of
all antique clocks purchased during the marriage. The parties hereto mutually agree that
they have divided all other furniture, household furnishings, appliances and other
household personal property between them in a manner agreeable to both parties. The
parties also mutually agree that, except as set forth in this agreement, each party shall
from and after the date ofthis Agreement be the sole and separate owner of all tangible
personal property in his or her possession.
14. EMPLOYEE BENEFIT PLANS
Currently Husband has a 401(k) with a value of approximately $ 73,000.00 and
Wife has a 401 (k) account with a balance of approximately $ 62,000.00. Except as may
otherwise be provided herein, each ofthe parties does specifically waive, release
renounce and forever abandon all of his or her right, title, interest or claim, whatever it
may be in any Pension Plan, Retirement Plan, Profit Sharing Plan, 401 (k) Plan, Keogh
Plan, Stock Plan, ESOPP, Tax Deferred Savings Plan and/or any other employee benefit
plan (collectively refen'ed to as "Employee Benefit Plans") and hereafter said Employee
BenefitPlans shall become the sole and separate property of the party named in the
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Employee Benefit Plans or through whose employment said Employee Benefit Plans are
carried.
15. REAL PROPERTY
A. Marital Residence. The parties acknowledge that the real estate known as
1775 Summerfield Drive, Mechanicsburg, Cumberland County, Pennsylvania
(hereinafter referred to as the "Marital Residence") which was acquired jointly during the
marriage has been transferred into Wife's name alone. The marital residence is subject to
a mortgage with the M & T Bank, which currently has of an outstanding balance of
approximately $ 231,500.00. Wife agrees to indemnify, protect and save Husband
hamlless from said mortgage and all future encumbrances. Husband does specifically
waive, release, renounce and forever abandon whatever right, title and interest he may
have in the marital residence which shall become the sole and separate property of Wife.
The parties acknowledge that they know of no mortgages, liens, encumbrances or other
indebtedness to which the residence is subject to, except those mortgages, liens,
encumbrances or other indebtedness set forth in this Paragraph.
B. Land and Office Building. The parties acknowledge and agree that they
own real estate lying and being situate in, Hampden Township, Cumberland County,
Pennsylvania, known as 6240 Carlisle Pike, but more fully described in the Deed
attached as Exhibit "A" to the Partnership Agreement, upon which is situate a
commercial building (the land and all buildings, contents and improvements thereon
hereinafter.shall be referred to collectively as the "Commercial Land"). The commercial
land was acquired during the marriage but deeded solely in Wife's name. The parties
agree that the commercial land and all buildings, contents and improvements thereon
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shall be transferred into the names of Husband and Wife as Tenants By The Entireties, as
Husband and Wife. The commercial land and building(s) are subject to a mortgage with
the M & T Bank. The total of the outstanding balance of the mortgage is approximately
$ 313,300.00. The parties acknowledge that they know of no mortgages, liens,
encumbrances or other indebtedness to which the commercial land or building(s) is
subject to, except those mortgages, liens, encumbrances or other indebtedness set forth in
this Paragraph. The parties have already or shall, contemporaneously with the signing of
this Agreement, sign an agreement entitled PARTNERSHIP AGREEMENT (hereinafter
referred to as the "Partnership Agreement"), a copy of which shall be attached to this
Agreement as Exhibit "B" and incorporated herein. The partnership agreement shall
govern the ownership, transfer and restrictions relating to the Commercial Land and such
other restrictions, rights and obligations as set forth in the partnership agreement.
C, Husband's Residence. Subsequent to the parties separation, Husband
acquired real property located at 2209 Canterbury Drive, Mechanicsburg, Cumberland
County, Pennsylvania (hereinafter referred to as "Husband's Residence"). Wife does
specifically waive, release, renounce and forever abandon whatever right, title and
interest she may have in Husband's residence which shall become the sole and separate
property of Husband. Husband's residence is subject to a mortgage with the M & T
Bank, which currently has of an outstanding balance of approximately $ 234,000.00.
Husband agrees to indemnify, protect and save Wife harmless from said mortgage and all
future encumbrances. The parties acknowledge that they know of no mortgages, liens,
encumbrances or other indebtedness to which Husband's residence is subject to, except
those mortgages, liens, encumbrances or other indebtedness set forth in this Paragraph.
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16. MISCELLANEOUS PROPERTY
All marital property not otherwise mentioned in this Agreement shall be hereafter
owned by the party to whom the property is titled; and if untitled, by the party in
possession. This Agreement shall constitute a sufficient Bill Of Sale to evidence the
transfer of any and all rights in such property from each party to the other.
17. DEBTS/ POTENTIAL LIABILITIES
A. Credit Card Debts. Husband has no credit card debts or liabilities other
than accounts regularly paid in full. Husband agrees that any credit card debts he has or
incurs in the future shall be his sole responsibility, and he agrees to pay them as they
become due, and to indemnify and hold Wife and her property harmless for any and all
such debts, obligations and liabilities. The parties acknowledge that they have no joint
debts nor any individual debts except for those debts specifically identified previously in
this agreement.
B. Credit Card Debts. Wife has no credit card debts or liabilities other than
accounts regularly paid in full. Wife agrees that any credit card debts she has or incurs in
the future shall be her sole responsibility, and she agrees to pay them as they become due,
and to indemnify and hold Husband and his property hannless for any and all such debts,
obligations and liabilities. The parties acknowledge that they have no joint debts nor any
individual debts except for those debts specifically identified previously in this
agreement.
C. Other Liabilities. A liability not disclosed in this Agreement will be the
sole responsibility of the party who has incurred or rnay hereafter incur it, and each
agrees to pay it as the same become(s) due, and to indemnify and hold the other party and
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his or her property harmless for any and all such debts, obligations and liabilities. From
the date of the execution of this Agreement, each party shall use only those credit cards
and accounts for which that party is individually liable and the parties agree to not use
any credit card or other debt instrument for which the parties have joint liability or any
potential liability . The parties agree to cooperate in closing any remaining accounts
which provide for joint liability.
18. MEDICAL INSURANCE.
The parties currently maintain medical insurance coverage through their
employer. The parties agree that they shall continue to provide said insurance for
themselves and their minor child. All non-covered medical expenses shall be paid by the
party incurring said expense. All non-covered medical expenses for the parties' minor
child shall be shared equally by the parties. Wife agrees to pay for said non-covered
expenses and Husband agrees to remit one-half of said expenses to Wife upon receipt of
supporting documentation from Wife.
19.
CHILD
CUSTODY AND FINANCIAL ARRANGEMENTS CONCERNING
A. CUSTODY: The parties hereto mutually agree that they shall have
shared legal and physical custody of their minor child, Samantha
Goodrich. Both parties understand that this arrangement is modifiable.
The parties agree to keep each other informed as to the well being of
Samantha.
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B. CHILD SUPPORT: The parties agree that neither party shall pay child
support for Samantha. Both parties understand that this arrangement is
modifiable by either party upon a change in circumstance.
C. DAY CARE AND PRIVATE SCHOOL: The parties mutually agree to
equally pay for Samantha's day care and private schooling. Wife
agrees to pay for said expenses and Husband agrees to remit one-half
of said expenses to Wife upon receipt of supporting documentation
from Wife.
D. COLLEGE EXPENSES: The parties desire to assist their daughter in
attending college and therefore have established accounts as set forth
above. The parties agree to make annual contributions to the aforesaid
accounts. The amount of said contributions shall be established by
agreement of the parties, however, the minimum annual contribution
shall be $ 1,000.00 from each party. These monies shall revert to the
contributor should Samantha die prior to the completion of her
education or if upon Samantha's attaining the age of22 she is not
enrolled at a college.
E. OTHER EXPENSES: Neither party shall be responsible for any other
expenses, relating to Samantha, for which either party desires
contribution or reimbursement unless agreed to by both parties.
F. LIFE INSURANCE: Each party agrees to maintain life insurance, with
a death payment of not less than $225,000.00, until the parties' minor
child attains the age of 18 years. The beneficiary of said policy or
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policies shall be the other party to this agreernent. The proceeds from
the insurance policy (ies) and income therefrom shall be utilized for
the needs of the child including, support, housing, food, medical care
and education. Documentation of the existence of said policies shall be
provided to the other party upon request.
G. GUARDIANSHIP: It is the desire of the parties that should they both
die, prior to Samantha attaining the age of majority, that Wife's sister,
KAREN PRIAR, be named guardian of Samantha.
20. LEGAL FEES. COSTS AND EXPENSES
Wife acknowledges that she has been represented by P. Richard Wagner, Esquire
and Husband acknowledges that he has been represented by Gary L. Rothschild, Esquire
relative to this Agreement and the above referenced divorce action. The parties
acknowledge and agree that each shall be responsible for the payment of any fees owed
to their respective attorney. Husband and Wife do hereby waive, release and give up any
rights which they may have against the other for payment of counsel fees. The parties
acknowledge and agree that each shall be responsible for the payment of any and all costs
and expenses incurred by that party. Except as stated herein to the contrary Husband and
Wife do hereby waive, release and give up any rights which they may have against the
other for payment of costs and expenses.
21. OTHER WRITINGS
Each ofthe parties hereto agree to execute any and all documents, deeds, bills of
sale or other writings necessary to carry out the intent and language ofthis Agreement.
22. DISCLOSURE AND WAIVER OF PROCEDURAL RIGHTS
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Each party understands that he or she had the right to obtain from the other party a
complete inventory or list of all of the property that either or both parties owned at the
time of separation and at the time and/or owned at this time and that each party had the
right to have all such property valued by means of appraisals or otherwise. Both parties
understand that they have the right to have a court hold hearings and make decisions on
the matters covered by this Agreement. Both parties understand that a court decision
concerning the parties' respective rights and obligations might be different from the
provisions of this Agreement.
Each party hereby acknowledges that this Agreement is fair and equitable, that it
adequately provides for his or her needs and is in his or her best interests, and that the
Agreement is not the result of any fraud, duress, or undue influence exercised by either
party upon the other or by any other person or persons upon either party. Both parties
hereby waive the following procedural rights:
A. The right to obtain an inventory and appraisement of all marital and
non-marital property as defined by the Pennsylvania Divorce Code.
B. The right to obtain an income and expense statement of the other party
as provided by the Pennsylvania Divorce Code.
C. The right to have property identified and appraised.
D. The right to discovery as provided by the Pennsylvania Rules of Civil
Procedure.
E. The right to have the court determine which property is marital and
which is non-marital, and equitably divide and distribute between the
parties that property which the court determines to be marital, and to
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set aside to a party that property which the court determines to be that
parties' non-marital property.
F. The right to have the court decide any other rights, remedies,
privileges, or obligations covered by this Agreement and/or arising out
of the marital relationship, including but not limited to possible claims
for divorce, child support, spousal support, alimony, alimony pendente
lite (temporary alimony), equitable distribution, custody, visitation,
counsel fees, costs and expenses.
23. FURTHER DEBT
Wife agrees that she shall not contract or incur any debt or liability for which
Husband or his property or estate might be responsible and shall indemnify and save
Husband harmless from any and all claims or demands made against Husband by reason
of debts or obligations incurred by Wife.
24. FURTHER DEBT
Husband agrees that he shall not contract or incur any debt or liability for which
Wife or her property or estate might be responsible and shall indemnify and save Wife
harmless from any and all claims or demands made against Wife by reason of debts or
obligations incurred by Husband.
25. MUTUAL RELEASE
Except as otherwise provided herein and so long as this Agreement is not
modified or canceled by subsequent Agreement, the parties hereby release and discharge
absolutely and forever each other from any and all rights, claims and demands, past,
present and future, including, but not limited to the following: spousal support, alimony,
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alimony pendente lite, division of property, claims or rights of dower and right to live in
the marital home, right to act as executor or administrator of the other's estate, rights as
devisee or legatee in the Last Will and Testament of the other, any claim or right as
beneficiary in any life insurance policy of the other and any claim or right in the
distributive share or intestate share of the other parties' estate.
26. TAX ON PROPERTY DIVISION.
The parties hereby agree and express their intent that any transfers of property
pursuant to this Agreement shall be within the scope and applicability of the Deficit
Reduction Act of 1984 or other similar tax acts (hereinafter the "Act"), specifically, the
provisions of the said Act pertaining to transfers of property between spouses or former
spouses. The parties agree to sign and cause to be filed any elections or other documents
required by the Internal Revenue Service to render the Act applicable to the transfers set
forth in this Agreement, without recognition of gain on such transfers and subject to the
carry-over basis provision of said Act. As to transfers to which the Act may not or does
not apply, Husband shall be solely responsible for any and all taxes that may be assessed
or become due from Husband, and Wife shall be solely responsible for any and all taxes
that may be assessed or become due from Wife as a result of or arising from this
Agreement.
27. TAX RETURNS
A. Tax Returns. The parties have filed joint income tax returns, including federal,
state and local returns, for the calendar years prior to and including 1998. The parties
have filed separate tax returns for calendar year 1999 and 2000 and shall continue to file
separate returns for calendar year 2001 and future years. Both parties agree that in the
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event any deficiency in federal, state or local income tax is proposed, or any assessment
of any such tax is made against either party, each agrees to indemnify and hold harmless
the other from and against any loss or liability for any such tax deficiency or assessment
therewith. Such tax, interest, penalty or expense shall be paid solely and entirely by the
individual who is finally determined to be the cause ofthe misrepresentations or failures
to disclose the nature and extent of his or her separate income on the aforesaid tax
returns.
B. Dependencv Exemption for Samantha Goodrich. The parties agree to alternate
claiming Samantha Goodrich as a dependent on their tax returns in the future. The parties
agree to execute any and all documents required to effectuate said dependency filing. The
parties agree that for the year ended December 31, 2001 Husband shall be entitled to
claim Samantha and for the year ended December 31, 2002 Wife shall be entitled to
claim Samantha. The parties shall continue said alternation for all future years.
28. FINAL EOUITABLE DISTRIBUTION OF PROPERTY
The parties agree that the division of all property set forth in this Agreement is
equitable and in the event an action in divorce is commenced, if not already pending,
both parties relinquish the right to divide said property in any manner not consistent with
the terms set forth herein. It is further the intent, understanding and agreement of the
parties that this Agreement is a full, final, complete and equitable property division,
29. ENTIRE AGREEMENT
This Agreement constitutes the entire understanding between the parties, and
there are no covenants, conditions, representations or agreements, oral or written, of any
nature whatsoever, other than those contained herein.
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30. LEGALLY BINDING
It is the intent ofthe parties hereto to be legally bound hereby and this Agreement
shall bind the parties hereto and their respective heirs, executors, administrators and
assigns.
31. FULL DISCLOSURE
Each party asserts that she or he has made a full and complete disclosure of all the
real, personal and all other property or assets of whatsoever nature and wheresoever
located belonging in any way to each of them, of all debts and encumbrances incurred in
any manner whatsoever by each of them, of all sources and amounts of income received
or receivable by each of them, and of every other fact relatinginany way to the subject
matter of this Agreement. These disclosures are part of the consideration made by each
party for entering into this Agreement.
32. SOCIAL SECURITY NUMBERS
Husband hereby acknowledges and warrants that his Social Security number is
268-40-0561, Wife hereby acknowledges and warrants that her Social Security number is
171-54A944.
33, BREACH AND COSTS TO ENFORCE
In the event that either party defaults in the performance of any duties or
obligations required by the terms of this Agreement and either extra-judicial or judicial
proceedings are commenced to enforce such duty or obligation, then the party found to be
in default shall be liable for all expenses of curing the default, including, but not limited
to reasonable attorneys' fees, court costs and expenses.
34. BANKRUPTCY
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In the event that either party hereafter obtains a discharge in bankruptcy whereby
debts that are herein assumed by that party would then become the sole liability of the
non-discharged party, or where one party would be discharged of his or her obligation to
the non-discharged party under any provision regarding equitable distribution of marital
property, then this agreement may be modified by a court of competent jurisdiction in
order to effect a net distribution of assets and assumption of liabilities as intended by this
agreement.
35. AGREEMENT ENTERED INTO VOLUNTARILY AND AGREEMENT
CLEARLY UNDERSTOOD
Each party to this Agreement acknowledges and declares that he or she
respectively:
A. Has carefully read each paragraph and each provision of this
Agreement;
B. Has given careful and mature thought to the making of this
Agreement;
C. Is fully and completely informed as to the facts relating to the subject
matter of this Agreement, including the parties' assets and liabilities;
D. Has reviewed this Agreement with his/her respective counsel and
received guidance as to his/her rights and obligations under this
Agreement;
E. Enters into this Agreement voluntarily after receiving the advice of
independent counsel; and
F. Fully and completely understands each provision of this Agreement,
both as to the subject matter and legal effect.
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36. AMENDMENT OR MODIFICATION
This Agreement may only be amended or modified by a written instrument signed
by both parties.
37. SEVERABILITY
If any term, condition, clause or provision of this Agreement shall be determined
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 obligations or duties under this Agreement or any
one or more of the paragraphs of this Agreement, with the exception of the satisfaction of
any conditions precedent, shall in no way void or alter the remaining obligations or duties
ofthe parties.
~. LAW APPLICABLE
This Agreement shall be governed, construed and enforced under the statutes and
case law of the Commonwealth of Pennsylvania.
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39. HEADINGS NOT PART OF AGREEMENT
Any headings preceding the text of the paragraphs and subparagraphs herein are
inserted solely for convenience of reference and shall not constitute a part of this
Agreement nor shall they affect its meaning, construction or effect.
BY SIGNING THIS AGREEMENT, EACH PARTY ACKNOWLEDGES
HAVING READ AND UNDERSTOOD THE ENTIRE AGREEMENT, AND EACH
PARTY ACKNOWLEDGES THAT THE PROVISIONS OF THIS AGREEMENT
SHALL BE AS BINDING UPON THE PARTIES AS IF THEY WERE ORDERED BY
THE COURT AFTER A FULL HEARING.
IN WITNESS WHEREOF, the parties hereto have executed this Agreement the
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ERT S. GOODRICH ("Husband") - J
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COMMONWEALTH OF PENNSYLVANIA
COUNTYOF ~
On this, the 31# day of ~
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2002, before me, a Notary
Public in and for the State and County aforesaid, the undersigned officer, personally
appeared KATHY J. GOODRICH, known to me (or satisfactorily proven) to be the
person described in the foregoing instrument, and acknowledged that she executed the
same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
N,~~LL-
(SEAL)
COMMONWEALTH OF PENNSYLVANIA
-- \IlOTf\RiALS"iI'i.:''"'' -,' i
CYNTH'AJ. RULE, Notary Pub!lc. j
Camp Hill Boro., CumbeT\and?Co~~:ii4
M Commission E~plr.".~ J ":'.:.,,4, ~","C-
COUNTY OF
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On this, the 3/,c:;t day of ~_ 2002, before me, a Notary
Public in and for the State and County aforesaid, the undersigned officer, personally
appeared ROBERT S. GOODRICH, known to me (or satisfactorily proven) to be the
person described in the foregoing instrument, and acknowledged that he executed the
same for the purposes therein contained.
IN WITNESS WHEREOF, I hereunto set my hand and official seal.
~~~ (SEAL)
'. Notary ubhc
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SHAREHOLDER BUY/SELL AGREEMENT
THIS AGREEMENT, made and entered into as of the 31" day of January, 2002, by and
among KATHY J. GOODRICH, an adult individual residing in Cumberland County,
Pennsylvania; ROBERT GOODRICH, an adult individual residing in Cumberland County,
Pennsylvania; and MARKET SQUARE, INC., a Pennsylvania business corporation having
offices located at 6240 Carlisle Pike, Hampden Township, Cumberland County, Pennsylvania
(hereinafter the "Corporation"). The individual parties to this Agreernent are sometimes referred
to singularly as "Shareholder" or collectively as "Shareholders."
WIT N E SSE T H:
WHEREAS, the Shareholders are owners of 100% of the issued and outstanding capital
stock of the Corporation;
WHEREAS, with a view to the stable and competent managernent of the Corporation,
and in the best interests of the Corporation and its Shareholders, the parties hereto have
determined to restrict the exercise of shareholder ownership rights in the capital stock of the
Corporation; and
WHEREAS the parties wish to enter into this Agreement to set forth the terms and
conditions of the understandings among them.
NOW, THEREFORE, in consideration of the mutual covenants and conditions contained
herein, and intending to be legally bound, the parties hereto agree as follows:
I, RESTRICTED SHARES. So long as this Agreement shall remain in effect, no
Shareholder shall sell, assigu, transfer, mortgage, alienate, hypothecate, give away or in any way
encumber or dispose of the shares of stock of the Corporation which he or she now owns or
hereafter acquires, except as herein permitted and provided. As used herein, the phrase" sell and
transfer" or "sold and transferred" shall include selling, assigning, transferring, alienating, giving
away or otherwise disposing of stock.
2. RESTRICTIONS ON LIFETIME TRANSFERS. Shares may be sold and
transferred by the Shareholders during their respective lifetimes only to the Corporation, to the
other Shareholder, to issue of a Shareholder, to a fiduciary for the benefit of Shareholder's issue,
and as otherwise expressly authorized by this Agreement. The shares so transferred shall be
subject to the same restrictions and conditions of this Agreement as they were in the hands of the
transferor. A condition precedent to the shares being sold and transferred shall be compliance
with all remaining terms and conditions of this Agreement.
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3. RIGHTS OF FIRST REFUSAL. In the event that a Shareholder shall desire to
sell or transfer shares in the Corporation to a party other than a party identified in Paragraph 2
hereof, he or she shall first offer to sell the shares to the Corporation, and the Corporation shall
have the right to purchase the shares as set forth herein. Corporation shall have the right to
purchase all, but not less than all, of the shares offered by the Shareholder at the Fair Market
Value of the shares agreed upon annually by the Shareholders, based upon the balance sheet of
the Corporation prepared by its regular accountants for the end ofthe fiscal year immediately
preceding the date that the Shareholder offers to sell his or her shares, with consideration being
given for goodwill and going concern value of the Corporation. The parties agree that the Fair
Market Value of the Corporation in effect from the date of this Agreement through December 31,
2002, is the amount set forth on Exhibit "A" attached hereto and incorporated herein by this
reference. The Fair Market Value for all subsequent years shall likewise be agreed upon by
unanimous vote at a rneeting of Shareholders taking place after January I and before February 28
of each year, retroactively effective to January 1. The Fair Market Value agreed upon annually
by the Shareholders shall be endorsed on Exhibit "A" attached hereto. If the Shareholders fail to
agree upon a Fair Market Value for the Corporation's shares in any year as required by this
Agreement, then the Fair Market Value most recently agreed upoJi;by the Shareholders shall
continue in effect, with an increase of 5% per year being applied to the most recently agreed-
upon Fair Market Value.
In the event that the Corporation shall elect not to purchase the shares of the selling
Shareholder, then the non-selling Shareholder shall have the option of purchasing all of the
shares so offered at the agreed-upon Fair Market Value then in effect. If the non-selling
Shareholder elects not to purchase the shares of the selling Shareholder, then the selling
Shareholder may sell or transfer all, but not less than all, of his or her shares to any third party
during the ensuing six (6) months. After the six (6) month period, if a sale or transfer has not
been consummated, then the rights of first refusal set forth herein shall again apply.
Payment for shares sold either to the Corporation or to the non-selling Shareholder shall
be made over a five (5) year period in principal installments equal to one-fifth of the total amount
due, with the first such installment being due one (1) year after the date of closing on the transfer
and each subsequent installment being due annually thereafter until the entire purchase price is
paid in full. Interest at the rate of six percent (6%) per annum shall accrue on the outstanding
unpaid balance from the date of closing and shall be paid annually with each installment of
principal. The purchaser shall have the right to prepay the purchase price in whole or in part
without prepayment penalty or unaccrued interest.
4. TERMINATION OF EMPLOYMENT.
(a) Redemption. In the event that a Shareholder is employed by the
Corporation and leaves employment, then the departing Shareholder rnay elect to tender all of his
or her shares to the Corporation for redemption, and the Corporation shall redeem said shares, at
a purchase price equal to the Fair Market Value of the shares agreed upon and paid in accordance
with the provisions of Paragraph 3 hereof.
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(b) Covenant Not to Comoete. In consideration of the agreement to redeem a
Shareholder's shares upon termination of employment with the Corporation, each Shareholder
agrees that he or she will not, either individually, in partnership, or as the officer, shareholder or
director of any corporation, compete with the Corporation for a period of one (I) year after the
date on which employment terminates (the "Non-Compete Period") and within a three hundred
(300) mile radius of the Borough of Camp Hill, Pennsylvania, During the Non-Compete Period,
the departing Shareholder shall not own, operate, manage or engage in, directly or indirectly, any
form of business or enterprise within the prohibited geographical area that has as one of its
purposes the development and promotion of trade shows. Additionally, the departing Share-
holder shall also maintain as confidential and not use for his or her benefit any trade secrets of
the Corporation.
5. DEATH OF A SHAREHOLDER Upon the death of any Shareholder, the
personal representative of such deceased Shareholder shall sell the shares to the Corporation or,
if the Corporation declines to purchase, to the surviving Shareholder in accordance with the
terms of Paragraph 3 of this Agreement. Should the Corporation or the surviving Shareholder
carry life insurance on the life of the deceased Shareholder, the insurance proceeds payable to the
Corporation or to the surviving Shareholder on account of the death of a Shareholder may be
utilized to pay, in whole or in part, the unpaid purchase price. The said persona1.representative
shall comply with the requirements of Pennsylvania law by tendering the consent to transfer '
securities as required to be obtained by Pennsylvania corporations under the Inheritance Tax Law
of Pennsylvania.
6. ENFORCEMENT OF THIS AGREEMENT.
(a) Transfers of shares shall be rnade only upon books of the Corporation, and
prior to any new certificate being issued, the old certificates must be surrendered for cancellation.
(b) No shares shall be transferred upon the books ofthe Corporation, nor shall
any sale, transfer or other disposition thereof, become effective unless and until all the terms and
conditions of this Agreement are first performed. In case of violation of this Agreement by an
attempt to transfer shares without cornpliance with the terms hereof, the person or persons for
whose benefit these rights and privileges are provided shall have the right to compel the holder or
transferee to transfer and deliver such shares in accordance with the rights and privileges and at
the price hereinabove provided.
(c) Shares shall not be transferable on the books of the Corporation until the
transferee shall have joined in this Agreement and shall have agreed to be bound by the terms
hereof in relation to such shares.
7. MODIFICATION OF THIS AGREEMENT. The terms of this Agreement may be
changed and any of the restrictions with respect to the transfer of shares may be modified or
waived, including cancellation of this Agreement, upon the written consent of the holders of one
hundred percent (100%) ofthe issued and outstanding shares of the Corporation.
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8. NOTATION ON SHARES. In order to give notice of this Agreement to any
prospective purchaser of shares, each certificate evidencing ownership of shares in the
Corporation shall set forth on its face the following reference: "These shares are subject to a
written Agreement dated January 31,2002, restricting their transferability, a copy of which is
held by the Secretary of the Corporation."
9. DEFINITIONS.
(a) The word "transfer" as used in this Agreement shall include, but not be
limited to, the selling, gifting, assigning, hypothecation, pledging, encumbering or otherwise
disposing of, whether during the lifetime of a shareholder or following his or her death.
(b) The word "issue" in this Agreement shall mean a child or grandchild by
blood or adoption.
10. BINDING EFFECT.
-'
(a) The parties hereto intend to be legally bound by the terms of this
Agreement. All of the terms, conditions, covenants, rights and privileges herein contained shall
bind each of the parties hereto, their heirs, executors, administrators, successors and assigns, and
also any assignees for the benefit of creditors, receivers and trustees in bankruptcy or insolvency;
provided, however, that any person who may hereafter become a shareholder, as permitted in
Paragraph 2 of this Agreement, shall not be entitled to the benefits of any of the rights and privi-
leges of a shareholder until he or she signs the joinder required by Paragraph 6( d) hereof.
(b) The Corporation shall be bound by this Agreement and shall be required to
carry out this Agreement.
IN WITNESS WHEREOF, the undersigned Shareholders have set their hands and seals,
and Corporation has caused this Agreement to be executed in its name and on its behalf by its
President, and its corporate seal to be hereunto affixed and attested to by its Secretary. .
WITNESS:
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"Shareholders"
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ATTEST:
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MARKET SQUARE, INC.
By a~f4~c~
Rooert S. Goodrich, President
"Corporation"
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Value 1/1/02 - 12/31/02
Value 1/1/03 - 12/31/03
Value 1/1/04 - 12/31/04
Value 1/1/05 - 12/31/05
Value 1/1/06 -12/31/06
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EXHIBIT "A"
FAIR MARKET VALUE OF ALL
OUTSTANDING SHARES OF
MARKET SOUARE. INC.
$500.000
$
$
$
$
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Kathy J. Goodrich
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Robert S. Goodrich
Kathy J. Goodrich
Robert S, Goodrich
Kathy J. Goodrich
Robert S. Goodrich
Kathy J. Goodrich
Robert S. Goodrich
11II
PARTNERSHIP AGREEMENT
THIS AGREEMENT, made and entered into this \'-I--!'I..- day of January, 2002, by
and between KATHY J. GOODRICH and ROBERT S. GOODRICH, currently husband and
wife, adult individuals (hereinafter collectively the "Partners" or individually as "K. Goodrich
and R. Goodrich"),
WITNESSETH:
.WHEREAS, the Partners are currently married but intend to divorce in the near future;
and
WHEREAS, the Partners own certain real estate as tenants by the entireties, but wish that
their continuing ownership rights be govemed by the terms of this Partnership Agreement rather
than by real property rules governing tenancy by the entireties or t~nancy in common.
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NOW, THEREFORE, in consideration of the rnutual covenants and conditions contained
herein, and intending to be legally bound hereby, the parties hereto agree as follows:
ARTICLE I
Name and Place of Business
Section 1.1 - Name: The parties do hereby form a general partnership under the name of
Goodrich General Partnership (the "Partnership") to own and manage real estate and to engage in
such other business enterprises as from time to time might be agreed upon by and among the
Partners.
Section 1.2 - Office: The office of the Partnership shall be located at 6240 Carlisle Pike,
Hampden Township, Cumberland County, Pennsylvania, or at such other location as the Partners
shall from time to tirne designate in writing.
ARTICLE II
Term: Accounting Period
Section 2.1 - Term: The term of the Partnership shall begin on the date ofthis Agreement
and shall continue until terminated as hereinafter provided,
Section 22 - Accounting Period: The Partnership shall operate on a calendar year basis.
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ARTICLE ill
Contribution
Section 3.1 - Original Contribution: Upon the effective date of this Agreement, the
Partners shall each contribute their undivided one-half interest in real property more fully
described on Exhibit "A" attached hereto. Record title to the real property need not be changed
to the name of the Partnership, but each of the Partners acknowledges that his or her rights in said
real property, and the rights of his or her heirs and personal representatives, shall nevertheless be
governed by the terms of this Agreement and shall not be govemed by real property rules relating
to tenancy by the entireties or tenancy in common. Any additional capital contribution required
of the Partners shall only be determined and established in accordance with Section 3.2.
Section 3.2 - Additional Capital: If at any time or times hereafter the Partners
unanimously determine that further capital is required in the interest of the Partnership and that
the capital of the Partnership should be increased, additional capital shall be contributed by the
Partners in the respective percentages set forth in Section 4.1. No interest shall be paid on the
initial or on any subsequent contributions to the capital of the Partnership.
ARTICLE IV
Profits and Losses
Section 4.1 - Partners' Share of Profits and Losses: The net profits and losses of the
Partnership shall be distributed to or chargeable to the Partners in equal percentages as follows:
K. Goodrich
R. Goodrich
Total
50%
50%
100%
Section 4.2 - Income Accounts: An individual income account shall be maintained for
each Partner. Profits and losses shall be credited or debited to the individual income accounts of
the Partners as soon as practicable after Decernber 31 of each year or at such more frequent times
as agreed to by the Partners,
Section 4.3 - Withdrawals: Each Partner shall be entitled to withdraw from his individual
income account such amounts as are agreed upon by the Partners from time to time. As between
the Partners, said withdrawal amounts shall bear the same ratio to each other as the ratio of
profits and losses are being shared by the Partners under Section 4.1 for said period. Such sums
so withdrawn shall be charged to said Partner, and at the annual accounting shall be charged
against his share of the profits. Ifhis share of the profits shall not be equal to the sum so
withdrawn, said Partner shall at once pay the deficiency into the Partnership. Any credit
remaining in the individual income accounts at the end of each calendar year shall not be
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transferred to the individual capital accounts ofthe respective Partners, but shall remain in the
individual income accounts of the Partners.
ARTICLE V
Liabilities and Judgments
Section 5.1 - Liabilities: The Partnership shall not incur liabilities except in accordance
with Section 6.3 hereof.
Section 5.2 - Judgments: Neither the Partnership nor any of the Partners shall suffer a
judgment lien against Partnership assets or against assets owned by the Partners trading and
doing business in the name of the Partnership. In the event of entry of a judgment lien against
Partnership assets as a result of any Partner's actions, or in case of entry of a judgment against
any Partner, the Partner suffering the judgment shall discharge same and cause it to be released
within thirty (30) days of entry or shall bond the judgment pending appeal. No Partnership
interest shall be subject to attachment or other legal process, to th~ontrol or interference of any
creditor or spouse of any Partner, or to anticipation or alienation by any Partner.
ARTICLE VI
Administration of the Partnership
Section 6.1 - Banking: All funds of the Partnership shall be deposited in its name in such
bank account or accOlmts as shall be designated by the Partners. Withdrawals therefrom may be
made upon checks signed by both Partners.
Section 6.2 - Books: The Partnership books shall be maintained at the principal office of
the Partnership, and each Partner or his duly authorized attorneys or accountants shall at all times
have access thereto.
Section 6.3 - Management: Each of the Partners shall have a voice in the management of
the Partnership. Withollt the unanimous consent of both K. Goodrich and R. Goodrich, the
Partnership may not:
(a) Borrow money for Partnership purposes or utilize collateral owned by the
Partnership as security for such loans;
(b) Assign, transfer, pledge, compromise or release any of the claims of, or
debts due, the Partnership, except upon payment in full or arbitrate or consent to the
arbitratioRof any disputes or controversies of the Partnership;
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(c) Make, execute or deliver any assignment for the benefit of creditors; or
any bond, confession of judgment, chattel mortgage, deed, guarantee, indemnity bond,
surety bond, or contract to sell or contract of sale of all or substantially all of the property
of the Partnership;
(d) Encumber any Partnership asset or any interest therein or enter into any
contract for any such purpose;
(e) Incur any Partnership liability in excess of One Thousand Dollars
($1,000); or
(f) Sell or transfer any Partnership asset.
In absence of consensus between the Partners, the Partnership shall be dissolved and all real
estate assets of the Partnership shall be liquidated in accordance with the provisions of
Paragraph 7.l, Voluntary Termination.
,
./
ARTICLE VII
Voluntary Termination
Section 7.l - Voluntary Termination: The Partnership maybe dissolved at anytime by
agreement of the Partners, in which event the Partners shall proceed with reasonable promptness
to sell the assets o'\,vned by the Partnership and to liquidate the business of the Partnership. The
Partnership shall be dissolved also by the sale of all assets owned by the Partnership. Upon
dissolution, the assets of the Partnership business shall be used and distributed in the following
order:
-;-
(a) To payor provide for the payment of all Partnership liabilities and
liquidating expenses and obligations;
(b) To balance the income accounts of the Partners in proportion to their
respective Partnership interests;
(c) To discharge the balance of the income accounts of the Partners;
(d) To balance the capital accounts of the Partners in proportion to their
respective Partnership interests;
(e) To discharge the balance ofthe capital accounts of the Partners; and
(f) Any excess shall be distributed to the Partners in proportion to their
respective Partnership interests.
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Section 7.2 - Gains or Losses: Any gain or loss on disposition of Partnership assets in the
process ofliquidation shall be credited or charged to the Partners in the proportion of their
interests in profits of losses. Any property distributed in kind in the liquidation shall be valued
and treated as though the property were sold and the cash proceeds were distributed. The
difference between the value of property distributed in kind and its book value shall be treated as
a gain or loss on sale of the property and shall be credited orcharged to the Partners in the
proportions of their interests in profits and losses.
Section 7.3 - Balance Owed bv a Partner: Should either Partner have a debit balance in
his capital account, whether by reason of losses in liquidating Partnership assets or otherwise, the
debit balance shall represent an obligation from him to the other Partner, to be paid in cash
. within thirty (30) days after written demand by the other Partner.
ARTICLE VIII
Transfer of Ownership Interest
./
Section 8.1 - Sale of a Partnership Interest: A Partner shall not sell, transfer, or otherwise
dispose of all or any part of his Partnership interest or any interest in real estate held for the
benefit of the Partnership without first giving written notice to the Partnership, including the .
name of the person to whom he intends to sell, transfer, or dispose of his interest, and the price
and term of any propose sale.
Section 8.2 - Partnership Option to Purchase: Within ninety (90) days after the receipt of
the written notice referred to in Section 8.1, the Partnership may, at its option, exercisable in
writing, purchase and retire the interest of the Partner desiring to sell his interest. The valuation
of the interest and the terms of payment shall be as set forth in Section lOA and Section lO.6 or
as set forth in the notice of the proposed sale, whichever is less.
Section 8.3 - Assignment of Interest: If the Partnership does not exercise its option under
Section 8.2, the Partner giving the notice shall be free to sell, transfer, or otherwise dispose of his
Partnership or real estate interest to the person or persons specified in the notice, and under the
same terms and at the same price in the case of a sale. The assignee shall be entitled to receive,
in accordance with the terms of the assignment, the profits to which the assignor otherwise would
be entitled.
Section 804 - Failure to Purchase or Sell Partnership Interest: In the event that the
Partnership does not elect to purchase the interest of the Partner seeking to transfer his interest,
and such interest is not sold in accordance with the provisions hereof within six (6) months of the
date of notice to the Partnership and to the other Partner, said Partner shall remain a partner in
the Partnership in all respects and be again bound by the provisions of this Article Vill.
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ARTICLE IX
Withdrawal or Permanent Disability of a Partner
Section 9.1 - Partnership Ootion to Purchase: Any Partner shall have the right to
withdraw from the Partnership at the end of any fiscal year by written notice of intention to
withdraw served upon the other Partner at the office of the Partnership at least ninety (90) days
before the end of the fiscal year; provided, however, that no more than one (1) Partner may elect
to withdraw in anyone (1) fiscal year (for this purpose, the death or permanent disability of one
(1) or more Partners in any fiscal year shall be deemed to be a withdrawal by a Partner so that if a
Partner dies or becomes disabled in one fiscal year, no other Partner may exercise the right to
withdraw as provided herein). If a Partner is able to withdraw hereunder, or if a partner becomes
permanently disabled for a period extending continuously for a period in excess of one (1) year,
the remaining Partner shall, at his option, have the right either to purchase the withdrawing
Partner's interest in the Partnership or to terminate and liquidate the Partnership business. If the
remaining Partner elects to purchase the interest of the withdrawing Partner, he shall serve notice
in writing of such election upon the withdrawing Partner at the office of the Partnership within
two (2) months after receipt of the notice of intention to withdra..""v.
Section 9.2 - Purchase Price: If the remaining Partner elects to purchase the interest of
the withdrawing Partner, the purchase price shall be determined by an appraisal provided by ail
M.A.I. appraiser mutually acceptable to the parties. Terms of payment shall be as specified in
Section 1004 hereof.
Section 9.3 - Termination Without Purchase: If the remaining Partner elects not to
purchase the interest of the withdrawing Partner, the Partnership shall be terminated as provided
in Article VII.
ARTICLE X
Death of a Partner
Section lO.l - Partnership Option to Purchase: Upon the death of a Partner, the surviving
Partner shall have the option either to terminate the Partnership business as provided in Article
VII hereof, or to cause the Partnership to purchase the interest of the deceased Partner.
Section 10.2 - Valuation: The Partners shall agree upon a mutually acceptable value for
all Partnership property in January of each calendar year and shall note the agreed-upon value on
Exhibit "B" attached hereto, which shall be executed annually by the Partners. The agreed-upon
value shall apply during the ensuing calendar year and until a new valuation is agreed upon and
noted on Exhibit "B."
Section 10.3 - Waiver ofJudicial Valuation: The Partners, for themselves, their heirs,
personal representatives, successors and assigns, hereby agree that the method of valuing the
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Partnership assets herein provided shall be the sole, exclusive and binding method upon all
parties and Partnership interests, and hereby waive the right to have such asset valuation
determined in a court or any other judicial forum.
Section 1004 - Terms ofPavment: The surviving Partner acquiring the Partnership
interest shall, at the election ofthe surviving Partner, make payment for the Partnership interest
either in cash within ninety (90) days of the election to purchase, or in three (3) equal annual
installments, the first such installment to be paid within ninety (90) days of the election to
purchase and the remaining installments to be paid each succeeding year on the anniversary date
of payment of the first installment. If the three (3) year pay-out method is elected, the surviving
Partners shall pay iriterest on a per annum basis on the unpaid principal balance remaining during
the applicable year at the large business prime rate declared by M&T Bank or other comparable
commercial bank in the Harrisburg, Pennsylvania, metropolitan area.
Section lO.5 - Termination Alternative: If the remaining Partner does not elect to
purchase the Partnership interest of the disabled or deceased Partner, he shall proceed with
reasonable promptness to terminate the Partnership as provided iri-Article VII hereof.
Section 10.6 - Losses Upon Termination: The surviving Partner and the disabled Partner
or the personal representative of the deceased Partner shall share profits and losses of the
Partnership during the period of liquidation in the proportions specified in Section 4.l, except
that the disabled Partner or the estate, representatives or trustees of the deceased Partner shall
not be liable for losses in excess of the disabled or deceased Partner's interest in the Partnership
at the time of his disability or death.
Section 1 O. 7 - Death Taxes: In the event that the Internal Revenue Service andlor state
taxing authority audits the estate of the deceased Partner and determines that the valuation of the
Partnership property as reflected on Exhibit "B" is less than the actual fair market value of the
property, then the surviving Partner shall pay all death taxes attributable to the increase in value
assessed by the taxing authorities.
ARTICLE XI
Arbitration
Section 11.1 - If any controversy or claim arising out of this Partnership Agreement
cannot be settled by the Partners, the controversy or claim shall be settled by arbitration in
accordance with the Rules of the American Arbitration Association then in effect, and judgment
on the award may be entered in any court having jurisdiction.
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IN WITNESS WHEREOF, the parties hereto have hereunto set their hands and seals the
day and year first above written.
WITNESS:
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(SEAL)
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OBERT S. GOODRICH
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ALL those certain two tracts or parcels of land and premises, situate, lying and being in the
To"nship of Hampden, County of Cumberland and Commonwealth of Pennsylvania, more
particularly described as follows:
Tract A:
Said tract is more particularly bounded and described according to a survey and plan thereof, made
by Ernest 1. Walker, Professional Engineer, dated January 2, 1979, as follows, to wit:
Beginning at a point in the center line of the Carlisle Pike (U.S. Route 11) at the corner oflands
now or late of Earl H. Esch, et ux; thence along lands of Esch South 07 degrees 24 minutes
00 seconds West, a distance of 260.00 feet to a point at corner of lands now or late of John E.
Boland; thence along lands of Boland South 65 degrees 17 minutes 30 seconds East, a distance of
130.00 feet to a point along other lands now or late of Boland; thence along said lands of Boland
North 07 degrees 24 minutes 00 Seconds East, a distance of260.00 feet to a point in the old center
line of the Carlisle Pike (U.S. Route 11); thence along said old center line North 65 degrees
17 minutes 30 seconds West, a distance of 130.0 feet to the point and place ofBEGlNNING.
BEING Tr~ct A on the final subdivision plan of Do rex, Inc., which said pla.'1 is recorded in the
Cumberland County Recorder of Deeds Office.
Tract B:
SAID tract is more particularly bounded and described in a survey of Em est J. Walker, Registered
Surveyor, dated January 2, 1979, as follows:
BEGI.i'Ii'NING at a point on the western side of lands now or late of Earl H. Esch and Nellie E.
Esch, his wife, which point is 260 feet from the centerline of HarrisbtlTg-Carlisle state road,
Route 11; thence along said lands ofEsch, South 07 degrees 24 minutes West, 240 feet to a 50-feet
wide private right-of-way; thence along the northern line of said private right-of-way South
65 degrees 17 minutes 10 seconds East, 230 feet to a point; thence along the lands oOohn E. Boland
and Lillian R. Boland, North 07 degrees 24 minutes East, 240 feet to a point; thence North
65 degrees 17 minutes 30 seconds West, 130 feet to the point and place ofBEGJNj\,'lNG.
TRACT B was previously subject to a right-of-way for the benefit of Do rex, Inc., its successors
and assigns, which right-of-way was reserved by deed dated April 8, 1980, and recorded
November 17, 1986, in Cumberland County Deed Book H, Volume 32, Page 700. Dorex, Inc.
merged into Doranco, Inc., the surviving corporation, ptlTsuant to certain Articles of Merger filed
with the Pennsylvania Department of State on December 16, 1986. Doranco, Inc. hereby terminates
its rights under the aforesaid right-of-,vay and thus the right-of-way is now extinguished.
TRACTS A AND B BEING the same premises which Doranco, Inc., by its Deed dated
April I?, 1996 and recorded in the Office of the Recorder of Deeds in and for Cumberland County
on April 19, 1996, in Deed Book 137, Page 1033, granted and conveyed unto Kathy J. Goodrich, a
married woman, Grantor herein.
EXH1BfT d
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EXHIBIT "B"
REAL ESTATE VALUATIONS
6240 Carlisle Pike
Hampden Township, Cumberland County:
Value 1/1/02 -12/31/02
Value 1/1/03 - l2/31/03
Value 1/1/04 - 12/31/04
Value 111/05 - 12/31/05
Value 1/1/06 - 12/31/06
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$ 400,000.00
$
$
$
$
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;"'Kathy J. Goodrich
Robert S. Goodrich
.. Kathy J. Goodrich
Robert S. Goodrich
Kathy J. Goodrich
Robert S. Goodrich
Kathy J. Goodrich
Robert S. Goodrich
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