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HomeMy WebLinkAbout99-00385 ~ "Exhibit A" and incorporated ~erein by reference thereto; and WHEREAS, certain differences have arisen between the parties, as a consequence of which they have separated and now live separate and apart from each other; and WHEREAS, the parties anticipate that an action in divorce may be filed in the Court at Common Pleas of Cumberland County, PennsYlvania (hereinafter called "Divorce Action"); and WHEREAS, Husband is represented by Philip H. Spare, Esquire of the firm of Snelbaker, Brenneman & Spare, P. C. and Wife is represented by Paul J. Esposito, Esquire of the firm of GOldberg, Katzman & Shipman, P.C.; and WHEREAS, the parties having a full opportunity to be advised of their respective rights, duties and obligations arising out of the marriage and each having a full opportunity to investigate and evaluate the assets, liabilities and all other aspects of each other's property and their jointly Owned assets and liabilities, have come to an agreement for the final settlement of their property and affairs. NOW THEREFORE, in consideration of these presents and the mutual covenants, promises, terms and conditions hereinafter set forth and to be kept and performed by each party hereto, and -2- ~ intending to be legally bound hereby, the parties mutually agree as follows: 1. I/;CORPORA'rION OF PREAMBLE. The foregoing preamble and paragraphs are incorporated by reference herein in their entirety. 2. DECLARATIillLAS TO ASSETS AND WAIVER OF EVALUATION. The parties agree that the items of property set forth in "Exhibit A" are all of the assets which they acquired during their marriage and which would be the subject of equitable distribution if submitted to a court for division under the provisions of the Pennsylvania Divorce Code. The parties declare and agree that they are familiar with said assets and hereby waive the evaluation thereof, although each party declares that she/he has had full opportunity obtain such evaluation. 3. DIVI S ION OF ASSE1:.S.. Upon the execut ion of this Agreement and except as otherwise provided, the parties agree to divide, allocate, retain and/or transfer the assets shown on "Exhibit A" as follows (the items numbers refer to the corresponding numbers on "Exhibit A"': A. ASSETS TO WIFE 1. Proceeds from sale of ",'rital home lOcated at 22 -3- Surrey Lane, Mechanicsburg, Pennsylvania pursuant to Paragraph 4 herein below; 2. Wife's 401(k) retirement plan from her former employer, Orthopedic Institute of Pennsylvania; 3, ~urniture, household goods and other tangible personal property in Wife's possession as of the date of this Agreement; 4. Inheritance from Wife's deceased grandfather; 5. 1997 Mercury Mountaineer Sport Utility Vehicle. B. ASSETS TO HUSBAND 1. Portion of proceeds from sale of ~arital home pursuant to paragraph 4 hereinbelow; 6. Real property known as 1 W. Green Street, Shiremanstown, Pennsylvania; 7. Real Property known as 2. W. Green Street, Shiremanstown, Pennsylvania; 8. Real property known as 221 W. Simpson Street, Mechanicsburg, Pennsylvania; 9. Harris Savings Bank Checking Account No. 182909 10. Harris Savings Bank Checking Account No. 1811710(Rental account) -4- .. 11, Harris Savings Bank Stock 12. Husband's interest in the following property which was gifted to Husband by his parents as part of their estate planning and which property is jointly owned by Husband and his Siblings: a) George's Cleaners, Inc. Stock; b) 336 W. Main Street, Mechanicsburg; c) 209 South Market Street, Mechanicsburg; d) approximately twenty (20) acres located near Dillsburg; and e) approximately seven (7) acres located on Gettysburg Road in Lower Allen Township 13. PNC Bank Savings Account 14. Husband's ownership interest in "Hattie Harris. real estate located in Lower Allen Township, Pennsylvania (Jointly owned with siblings) 15. Husband's Merrill Lynch IRA 16. Household goods and furniture currently in Husband's possession 4. DISPOSITION OF MARITAL HOME. Parties agree to list for sale the marital home located at 22 Surrey Lane, Mechanicsburg, Pennsylvania with a mutually acceptable real estate broker within sixty (60) days of the filing and service of a Divorce Complaint. Parties agree to use their best efforts to sell the home at a -5- . mutually agreeable price. Upon sale of the home, the net sale proceeds will be distributed in the following order: a) One Hundr.ed Fifty Thousand Dollar.s ($150,000.00) to Wife; b) Forty- five Thousand Dollars to Husband; and c) any remaining proceeds to be divided equally between the Parties. Net sale proceeds is the amount remaining after payment of necessary cloaing costs, including but not limited to the mortgage obligation. Husband shall be solely responsible for payment of any capital gains tax due and owing by the Parties as a result of the sale of the marital home. Until such time as final settlement on the sale of the Marital Home, Husband shall pay the monthly mortgage, real estate taxes, repairs and maintenance for the marital home. 5. CUSTODY OF MINOR CHILD. The parties shall enjoy shared legal custody of their minor daughter, RACHEL 8LAINE MANSFIELD. Mother shall have primary physical custody. Father shall have partial physical custody as follows: a. Tuesdays and Thursdays from 4:00 p.m. until 7:00 p.m.; b. Alternating weekends from 9:00 a.m. Saturday until 6:00 p.m. Sunday. Holidays, long weekends, special events and vacation times shall be arranged by agreement of the parties. -6- , 6. CHILD SUPPORT. Husba:ld shall pay the amount of $600.00 per month to Wife for child support so long as the above referenced Custody schedule remains in effect. .,. ALIMONY. Husband shall pay alimony to WUe in the amount of $600.00 per month from the date a final decree in divorce is issued until December 31, 2003. Alimony shall cease in the event of Wife's remarriage, cohabitation or death. It is the intention of the parties that said amounts will be income to Wife and deductible for husband for purposes of income taxes. 8. EDUCATION FUND FOR MINOR CHILD.. Within sixty (60) days of the issuance of a final decree in divorce, Husband shall invest $20,000.00 into a segregated account to be used solely for the purpose of providing RACHEL ELAINE MANSFIELD with a post- secondary education. In the event RACHEL does not attend college or pursue other post-secondary education by age 25, Husband may use said funds for any purpose whatsoever. 9. HEALTH INSURM1CE. Husband shall provide health insurance For Wife for a period of five (5) years from date of issuance of a final decree in divorce or until Wife obtains employment which offers health insurance as a benefit, whichever -7- . Occurs first. Husband shall provide RACHEL ELAINE MANSFIELD with health insurance until she reaches age 18. In the event Wife obtains employment which offers health insurance for dependents at lower cost than Husband could otherwise obtain, Wife shall cooperate with efforts to have daughter Covered by said insurance at Husband's expense. 10. E'U'rURE OBLIGATION~. The parties agree that any and all obligations incurred subsequent to the date of this Agreement, shall be the sole and separate liability and responsibility of the party incurring the obligation and each party agrees that he/she will not incur or attempt to incur any obligations for or on behalf of the other party and will indemnify and hold harmless the other party of and from any and all liability arising from such future obligation. 11. E.~..ElGHTS UNDER DiVORCE COOt:;. Except only as specifically provided to the contrary hereinabove in this Agreement, each party hereby waives and forever releases the other party of and from any and all claims which either may have against the other by reason of and pursuant to the Pennsylvania Divorce Code (and the divorce law of any other jurisdiction) including, but not limited to, alimony, alimony pendente lite, equitable distribution of marital property, counsel fees, costs -8- and expenses, except that the performance of any obligations c'aated hereunder may be enforced by any remedies under th~ Pennsylvania Divorce Code. 12. INDIVIDUAL PROPERT'(. Excopt only as llIay be provided specifically to the contrary hereinabove, each party shall retain all propert.y, real, personal and otherWise, which is presently titled in his or her name and o~nsrship, whether or not said property is or would be deemed to be marital property under the Pennsylvania Divorce Code and each party hereby expressly releases the other f and from any and all right of equitable distribution in and to said individually owned propert~ of such other party. 13. GENERAL RELEASE. Husband relinquishes his inchoate intestate right in the estate of Wife, and Wife relinquishes her inchoate intestate right in the estate of Husband, and each of the part:es hereto by these presents, for himself or herself, his or her heirs, executors, administrators or assigns, does hereby remise, release, qUit-claim and forever. discharge the other party hereto, his or' her heirs, executors, administrators or assigns, or any of them, of any and all claims, demands, damages, actions, causes of action or suits at law or in G1uity of whatsoever kind or nature, for or because of any m~tteT or thing done, omitted or 9- suffered to be done by such other party prior to the date hereof, except that this release shall in no way exonerate or discharge either party from the obligations and promises made or imposed by reason of this Agreement. This Agreement shall not be construed to affect or bar the right of either party to an action for the enforcement or performance of this Agreement which may be instituted pursuant to the remedies available under the Pennsylvania Divorce Code. 14. .s.URVIVAL OF AGREEMENT. It is the intention of the parties that this Post-Nuptlal Agreement shall survive any action in divorce which may be instituted or prosecuted by either party, and no order, judgment or decree of divorce, temporary, interloclltory, final or permanent, shall affect or modify the terms of this Agreement, but said Agreement may be enforced by any remedy at law or in equity, including enforcement proceedings under the Pennsylvania Divorce Code. The parties agree to incorporate this Agreement into a separate order of court to be entered in the Divorce Action, but this Agreement shall not be merged into said order or decree in divorce. 15. l:;QQl:ER8.Tl.QN. The parties agree to cooperate with each other and to make, execute, acknowledge and deliver such instruments and take Such further action as may hereafter be -10- determined to be requlsite and necessary to effoct the purpos~s and intention of this Post-Nuptial Agreement. 16. YOLUNTARY EXECUTION. The provisions of this Agreement and their legal effect have been fully explained to the parties by their respective attorneys. Each party acknowledges that this Post-Nuptial Agreement is fair and equitable, that it is being entered into voluntarily, with full knowledge of the assets of both parties, and that it is not the result of any duress or undue influence. The parties acknowledge that they have been furnished with all information relating to the financial affairs of the other to the extent same has been requested by each of them. 17. ENTIRE AGREEMENT. This Post-Nuptial Agreement contains the entire understanding of the parties and there are no representations, warranties, covenants or undertakings other than those expressly set forth herein. The parties acknowledge and agree that the provisions of this Agreement with respect to the distribution and division of marital and separate property are fair, equitable and satisfactory to them based on the length of their marriage and other relevant factors which have been taken into consideration by the parties. Both parties hereby accept the provisions of this Agreement with respect to the division of -11- property in lieu of and in full and final settlement and satisfaction of all claims and demands that they may now have or hereafter have against the other for equitable distribution of their property by any court of competent jurisdiction purSUant to the Pennsylvania Divorce Code or any amendments thereto. Each party voluntarily and intelligentli waives and relinquishes any right to seek a court ordered determination and distribution of marital property, but nothing herein contained shall constitute a waiver by either party of any rights to seek the relief of any court for the purpose of enforcing the provisions of this Agreement. 18. WAIVEB. The waiver of any term, condition, clause or provision of this Agreement shall in no way be deemed or considered a waiver of any other term, condition, clause or provision of this Agreement. 19. apPLICABLE LAW. This Agreement shall be construed, interpreted and enforced according to the laws of the Commonwealth of Pennsylvania. 20. !:lEADINGS-. The headJ.ngs or titles of the numbered paragraphs of this Agreement have been used only for the purpose of convenience and shall not be resorted to for the purposes of interpretation or construction of the text of this Agreement. -12- 21. BREACH. It is expressly stipulated that if either party fails in the due performance of any of his or her material obligations under this Agreement, the other party shall have the right, at his or her election, to sue for damages for breach thereof, to sue for specific performance or to seek any other legal remedies as may be available, and the defaulting party shall pay the reasonable legal fees for any services rendered by the non-defaulting party's attorney in any action or proceeding to compel performance hereunder. 22. AFTER-ACOUI8ED PROPERTY. Each of the parties shall hereafter own and enjoy independently of any claim or right of the other, all items of property, be they real, personal or mixed, tangible or intangible, which are hereafter acquired by him or her, with full power in him or her to dispose of the same as fully and effectively, in all respects and for all purposes as though he or she were unmarried. 23. COUNSEL FEES. COSTS ~EXPENSES. Each party shall be responsible for his or her own legal fees, costs and expenses incurred in connection with their separation and/or the dissolution of their marriage. 24. INDEMNIFICATION. Each party represents and warrants to the other that he or she has not incurred any debt, obligation, -13- or other liability, other than described in this Agreement, on which the other party is or may b8 liable. Each party covenants and agrees that if any claim, action or proceeding is hereinafter initiated seeking to hold the other party liable for any other debts, obligations, liability, act or omission of Such party, such party will at his or her sole expense, defend the other again3t any SUch claim or demand, whether or not well-founoed, and that he or she will indemnify and hold harmless the other party in respect of all damages as resulting therefrom. Damages as used herein shall include any claim, action, demand, loss, cost, expense, penalty, and other damage, inClUding without limitation, counsel fees and other costs a~d expenses reasonably incurred in investigating or attempting to avoid same or in opposing the imposition thereof or enforcing this indemnity, resulting to Husband or Wife from any inaccurate representation made by or on behalf of either Husband or Wife to the other in this Agreement, any breach of any of the warranties made by Husband or Wife in this Agreement, or breach or default in performance by Husband or Wife of any of the obligations to be performed by such party hereunder. The Husband or Wife agrees to give the other prompt written notice of any litigation threatened or instituted against ~ither party which might constitute the basis for a claim for indemnity pursuant to the terms of this -14- 'oJ EXHIBIT A 1. Marital home located at 22 Surrey Lane, Mechanicsburg, Pennsylvania; 2. Wife's 401 (k) retirement plan from her former employer, Orthopedic Institute of Pennsylvania; 3. Furniture, household goods and other tangible personal property in Wife's possession as of the date of this Agreement; 4. Inheritance from Wife's deceased grandfather; 5. 1997 Mercury Mountaineer Sport Utility Vehicle; 6. Real property known as 1 W. Green Street, Shiremanstown, Pennsylvania; 7. Real Property known as 2. W. Green Street, Shiremanstown, Pennsylvania; 8. Real property known as 221 W. Simpson Street, Mechanicsburg, Pennsylvania; 9. Harris Savings Bank Checking Account No. 182909; 10. Harris Savings Bank Checking Account No. 1811710 (Rental account) ; 11. Harris Savings Bank Stock; 12. Husband's interest in the fOllOWing property which was gifted to Husband by his parents as part of their estate planning and which property is jointly owned by Husband and his siblings: a) George's Cleaners, Inc. Stock; b) 336 W. Main Street, Mechanicsburg; c) 209 South Market Street, Mechanicsburg; d) apprOXimately twenty (20) acres located near Dillsburg; and e) approximately seven (7) acres located on Gettysburg Road in Lower Allen Township ; 13. PNC Bank Money Market Account; 14. Husband's ownership interest in "Hattie Harris" real estate located in Lower Allen Township, Pennsylvania (Jointly owned with siblings); IS. Husband' 3 Merrill Lynch IRA Account; and 16. Household goods and furnIture currently in Husband's possession. .". 0\ >.. h'; - t',.: ,- ~~~I~ .. u, ,..... f2 , , U.I ~:~,: . ()I ~.~. ':_J l' ., ..".., t.,. oi<~-': 11 ['" ("1f, l,. ..... 1-' j.li, I" >.~ ,,- It:!: ~".. " en (j cr. SNtLBAKER., BRENNEMAN 8 SPARE "" r"OU"\IO,..O\l l.o,"rotlATION ATTORNE\'~ AT ,"^W .u Wf!loT MAIN \TIU,n MECH^NICS8\JIlG. I'rNNSYLW,NI^ 17055 r 0 lOX 318 r ACMMlLt <1ln 807-/881 "10",,"0 C 'Nf.LlAXf." XflTH 0 l"tNNt~N N"'LIf" ... ~P^"[ 111 hOI HIj;?ft January 22, 1999 Nancy S. Mansfield 22 surrey Lane Mcchanicsburg, PA 17055 Dear Ms. Mansfield: Enclosed for service upon you is a certified, true and correct copy of a complaint which was filed on behalf of steven R. Mansfield. Very truly yours, Philip H. spare PHS/sZ Enclosure cc: steven R. Mansfield (w/enclosurej Via certified mail, restricted delivery, return receipt requested, Paroel No. Z 462 230 583 I::X\lI.Ol'.l' iI