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HomeMy WebLinkAbout99-00411 ," ,.~ .. . " ~ '. MARITAL SETTLEMENT AGREEMENT TillS AGREEMENT, made on this lut!1 day of ,iLL ty 1999 between Brad E. Tate, residing at 3155 Old Carlisle Road, Gardners, P A 17324 hereinafter called the husband, and Terri L. Tate, currently receiving mail at P.O. Box 1211, Carlisle, PA 17013, hereinafter call cd the wife. WITNESSETH: I. The parties were married on June 3, 1995, in Westminster, Maryland, and rcmain married as of the date of this Agreement. 2. The parties have no minor children of their relationship. 3. Wife has filcd an action for divorce in the Court of Common Pleas of Cumberland County, Pennsylvania, action number 99-411. 4. The parties had the opportunity to be represented by separate, independent legal counsel in the negotiation and memorializing of this Agreement: Husband has been represented by Mark D. Beauchat, Esquire, 116 Baltimore Street, Gettysburg, Pennsylvania. Wife has been represented by Wayne F. Shade, 53 West Pomfret Street, Carlisle, PA 17013. 5. In consequence of disputes and irreconcilable differences, the parties have heretofore separated and are now and for some time have been living apart. In view of their intention to live apart for the rest of their lives, they are desirous of settling their respective property rights. 6. The parties intend, and it is the purpose of this document, to memorialize the agreement of the parties for a complete and final settlement of all claims that either party may have against the other for alimony pendente lite, alimony, maintenance, equitable distribution of marital property, court costs, counsel fees, and for all other relief that could be granted pursuant to the Divorce Code or raised in conjunction with the separation and divorce of the parties. NOW THEREFORE, in exchange for the mutual promises made herein and for other good and valuable consideration, receipt of which is hereby acknowledged, the parties agree as follows: SECTION ONE LIVING SEPARATE The parties may hereafter live separate and apart, each free from all dominion, restraint and control by the other, whether direct or indirect, as fully as if unmarried. Each party may Page I " .. , hereafter reside at such place or places as he or she may sclect. Each may for her or his separate benefit, engage in any cmployment, business or profession hc or she may choose. SECTION TWO NO MOLESTATION OR INTERFERENCE Neither party shall molest or interfere with the other nor compel or attempt to compel the other to cohabit or dwell with her or him, by any means whatsoever, by legal action or otherwise. SECTION THREE DIVISION OF PROPERTY The parties have heretofore divided up their separate and marital property to their mutual satisfaction as herein described. Henceforth each of them shall own and enjoy, independently of any claim or right of the other, all items of real and personal property of every kind, whether now or hereafter owned by her or him, with full power to dispose of the same as fully and completely as if she or he were unmarried. 3.01 Person<illy: All tangible personal property acquired by either party prior to, during, or subsequent to marriage, whether separately or together, and which is deemed to be marital property located at 3155 Old Carlisle Road, Gardners, P A 17324 at the date and time of the execution of this agreement, shall be distributed to husband as his sole and separate property. All tangible personal property acquired by either party prior to, during, or subsequent to marriage, whether separately or together, and which is deemed to be marital property and in the possession or control of wife at the time of execution of this agreement, shall be distributed to Wife as her sole and separate property. 3.02 Vehicles: The parties are the lessors of two vehicles. The parties agree to be responsible for all payment and costs associated with their respective vehicles. Wife assumes all responsibility for the Toyota 4 Runner and husband assumes all responsibility for the Toyota truck. 3.03 Life Insurance: Husband and wife hereby mutually release and relinquish to the other all his or her right, title and interest, if any, in and to any insurance now carried by the husband or wife on his or her own life, if any. The husband and wife specifically waive and release any claim with respect to such life insurance by reason of the fact that some of the premiums were paid out of his or her funds during the married life of the parties. Page 2 3.04 Beal!y.: Prior to sepal'lltion, the partics rcsidcd at 3155 Carli sic Road, Gardners, PA 17324. This propcrty shall bccomc thc sole and cxclusive properly of the husband at such time as he has refinanced the property to have wife's name removcd form the mortgage, to have the two outstanding loan accounts at PSECU satisfied and terminated and wife has been paid the lump sum of $20,000.00. Wife agrees to cooperate in thc refinancing as necd be so long as she would not be required to be obligated for repayment of the loan in any respect. Wife further agrees to deed the property into husband's name alone at the time of refinancing the debt and payment and termination of the PSECU accounts. It is the agreement of the parlies that the refll1ancing take place within 45 days of the date wife executes this agreement. If husband is unable to conclude the agreed refinancing and loan repayment and termination during the 45 day period, her agrees to have the real property listed for sale with a qualified Realtor. It is agreed that the listing price would be $150,000.00 and that the parties would be required to accept any offer of$143,000.00 or more which would not involve seller financing in any form or payment of any closing costs of the buyer. The proceeds from any sale will first be used to pay any normal settlement charges associated with the sale of the real estate. The net proceeds, if any shall be used to payoff the marital debts listed in Section 4.03. The payoffs will be made by the seller's settlement attorney directly out of the proceeds of the settlement. If, after the payment of these debts there are still net proceeds available, they shall be split equally between the parties. I the property is sold, husband will not be required to make the $20,000.00 lump sum payment. It is specifically noted that the $20,000.00 payment is not alimony and should not be considered such for any purposes. In the event of the sale of the property, wife's claims for net fair rental value from the date of separation of the parties will be preserved. 3.05 Division of Pensions: It is acknowledged that both husband and wife may be entitled to pension benefits upon his or her respective retirement. Each party hereby waives, releases and relinquishes any and all right that she or he may now have or may hereafter acquire to share in or receive benefits from the pension of the other party. 3.06 Medical Insurance Covera~: Both parties will be responsible to provide for their own respective health insurance. 3.07 Seoarate Pro!)erty: It is acknowledged that both parties have property that may be marital in nature but is solely in the name of one party or lhe other. Except as expressly provided Page 3 herein to the contrary, each party shall have, retain and enjoy indepcndcntly of any claim, right or demand of thc othcr party, all propcrty of cvcry kind, naturc and dcscription and whercinsoevcr situated which is now owned or held or is hcrcafter acquircd by hcr or him, or stands in her or his name. SECTION FOUR DEBTS AND OBLIGATIONS 4.0 I Except for any debt or obligation of either party to the other under this agreement, or as otherwise expressly provided for herein, each party agrees to pay and hold the other harmless from all personal debts and obligations incurred by him or her from the date hercof. 4.02 Husband and wife shall be solely responsible for and shall hold each other harmless from any and all liability which is solely in eithcr of their names alone and is not specifically dealt with elsewhere in this agreement. 4.03 Husband specifieally agrees to payoff all of the following marital debts at the time of his refinancing of the property known as 3155 Old Carlisle Road, Gardners, P A 17324 a. Chevy Chase credit card - approximate balance $546.00 b. ANBCC credit card - approximate balance $2894.00 c. Two scparate Household Bank debts - appro xi male balances $2017.00 and $1191.00 respectively d. John Deere account - approximate balance $2497.00 e. Two separate Pennsylvania State Employee's Credit Union accounts _ approximate balances $4160.00 and $2433.00 respectively f Sears - approximate balance $895.00 g. Value City - approximate balance $282.00 4.04 Each party represents and warrants to the other that she or he has not incurred any debt, obligation, or other liability other than those described in this agreement, on which the other party is or may be liable. Each party covenants and agrees that if any claim, action or proceeding is hereafter initiated seeking to hold the other party liable for any other debt, obligation, liability, act or omission of such party, such party will at his or her own cxpense defend the other against any such claim or demand, whether or not well founded, and that she or he will indemnify and hold harmless the other party ill respect of all damages rcsulting lherefrom. Page 4 .. : 4.05 Husband and wife agree to givc each other prompt written notice of any litigation thrcatencd or institutcd against cithcr party which might constitutc thc basis of a claim for indemnity by either the husband or wife against the othcr pursuant to the terms of this agreement. 4.06 Husband and wife both acknowledge and recognize that as of the date of this agrcement, the party responsible for the payment of the debts, as set forth in subsection 4.03 hereof, must take affirmative action to cause the non-responsible party's name to be removed from those accounts as stated in subsection 4.03. Surrender of any credit cards by the said non-responsible party 10 the responsible party regarding each of thesc accounts is hcreby acknowledged. SECTION FIVE RELEASE OF ESTATE IUGllTS Each party expressly releases all right to share in the estate of the other party, or to serve as executor or administrator of the estate of the other party, except only as provided by will or codicil executed after the date of this agreement. SECTION SIX ALIMONY The parties hereby agree that neither party shall be liable for alimony in this matter. SECTION SEVEN TAXES 7.01 The parties are under no duty to file a "joint" tax return for 1998 but if the parties are legally able to, and so choose to file jointly, any refund shall be split equally between the parties. Ifthere is an amount owed to the IRS, it will be paid equally by both parties. Starting in 1999 and all years thereafter the parties will file separate tax returns. It is anticipated that they will be single but in the event that the parties are still married they will again have the option stated in paragraph 7.01. SECTION EIGllT ATTORNEY'S FEES AND OTHER COSTS Husband and wife shall each be responsible for their own attorney's fees incurred in connection with the negotiation, preparation, and execution of this agreement and in connection with any relief sought by either party in conneclion with the divorce of the parties. Page 5 SECTION NINE EXECUTION OF NECESSARY INSTRUMENTS The parties, and cach of them scpal'lltely, shall herealler execute all instillments nccessary to carry out the terms of this agreement. This includes but is not limited to, car titles, the deed to the marital home, and all other documents associated with the real estate transfer. SECTION TEN ENFORCEMENT 10.01 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 that may be available, and the defaulting party shall pay the reasonable legal fees for such services rendered by the non-defaulting party's attorney in any action or proceeding to compel performance hereunder. Reasonable counsel fees shall be defined as reasonable hours expended at the then hourly rate of counsel for the prevailing party. Such counsel fees shall extend to any independent proceedings necessary to collect counsel fees or to enforce any other judgment or decree in connection with the agreement. Such counsel fees would be payable as alimony so as to constitute an exception to discharge in banklllPtcy but would not be deductible by the payor or taxable to the payee for income tax purposes. 10.02 It is further agreed that this Agreement shall be incorporated into any decree hereafter entered by any court of competent jurisdiction in any divorce proceedings. This Agreement shall survive the incorporation into a divorce decree, it being the intent of the parties that this Agreement shall be enforceable as a contract as well as a decree of court, to the end that any remedies available to either party derived from the incorporation of this Agreament into a divorce decree shall be additional to the remedies available at law or equity for the breach of, or enforcement of a contract. SECTION ELEVEN INTERPRET A nON This Agreement shall be interpreted in accordance with the laws of the Commonwealth of Pennsylvania. SECTION TWELVE HEADINGS Section and subsection headings contained in this Agreement are for convenience only, and are not substantive content of the Agreement. Page 6 . SECTION TIIIRTEEN MODIFICATION No amcndment, alteration, or modification of this Agreement shall be valid or enforceable unless contained in a writing sign cd and dated by the partics. SECTION FOURTEEN BINDING EFFECT This Agreement shall be binding on the parties hercto, their heirs, personal representatives, and assigns. SECTION FIFTEEN FULL DISCLOSURE Each party represents to the other that husband and wife have been advised that this settlement is agreed to based on the parties knowledge of the marital assets. The parties understand that they have a right to discovery at their respective expense. Each party has entered into this agreement after exercising or waiving their respective rights to pursue discovery. SECTION SIXTEEN ENTIRE AGREEMENT This Agreement contains the entire understanding of the parties and there are no representations, warranties, covenants or undertakings other than those expressly set forth herein. husband and wife 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 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 Divorce Code or any amendments thereto. Husband and Wife each voluntarily and intelligently waive and relinquish 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. Page 7 >- ~ r.:: u; v: S ,- N :';)<.; ~~~~;: 0:.", ::!.: C)-:::. 'J. ...1- 0- (:':\~ (~)i:..; ":,">- ..:r :~,:';'0 Cl,':,~ ,'oj .J.2 U.l'~- rcz --l... CL Ll.JuJ G':"':' LW 1~)0- ~: (/) .2: '.J.. C" 3 0 0'" iJ; ..:t ~ :;;;: In Z- ~ N :::><1': u.l9 ..).~, S:2 ("j ~~)~ e>: - ~ H'" :L 0~ (~~-) - ':;,;.tr, ," .- '-"7 , Wft ('.l ._1..- rr:Z I FPL:-;~ 0- '_UuJ - , w.) lOU- r..: en .<; ~ IJ_ ~ :::> 0 C1' 0 " .., I' . ..<:'>,",/,:',::i:,.,<" , I, " ..' . '. .,..,J A,.;.'4,":':.I:_;~~~~.!:;"::::'J.~~J!)lm;.r.:;~'t':~~-1"''', '.'w' ':ol., ,,', .",'.. ...,.......,' . , 5, The parties have been living separate and apart since January 14, 1999, 6, Plaintiff avers as the grounds on which this action is based that Defendant has offered such indignities to the person of the Plaintit1: the innocent and injured spouse, as to render the condition of Plaintiff intolerable and the life of Plaintiff burdensome. In the alternative, Plaintiff avers as the grounds on which this action is based that the marriage of the parties is irretrievably broken, 7. There have been no prior actions for divorce or annulment of this marriage in Pennsylvania or in any other jurisdiction, 8. This Action in Divorce is not collusive. 9. Both parties to this Action in Divorce are legally capable of managing their own concerns, 10, Defendant herein is not a member of the armed forces of the United States of America. WAYNE F. SIlADE Attorney nlloaw 53Wcsll'omfrclStrccl Carlisle, Pennsylvania 17013 -2- Z 332 854 972 US Postal Service Receipt for Certified Mail No Insurance Coverage Provldod. Do nol use for Internatlonaf Mall 500 roverse Scnllo Brad E. Tate Slroel & Number 3155 Old Carlisle Road GO~~irri~ta~'J~IPm.: 17324 c) ~-:l 0 U) .., ~~: ~ i' ; /:;1 :;J ~_: : : .. ';1 :JJ ,- i" ~,rn ".CJ " '0 ':' I ., ;~:; ;::J~;:~ }'.-u r', ')b orn , .--t .',- ~> =::~ ::n ". -< Postage $ ,55 Certified Fee 1. 40 Spadal Delivery Fee Restricted Delivery Fee 2.75 "' '" Roturn Receipt Showing \0 '" 1. 25 ~ Whom & Dale Delivered l Rem Rec,;p<5/'0wr9 to Whom. Dale, & Addressee's Address 0 $ 0 TOTAL Postage & Fees 5.95 '" '" Poslmam or Dale E t1. January 22, 1999 U) Q. . .. ""~',:,,...;j-:''>':,i~;x.;'';''1''';!1,., . 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