Loading...
HomeMy WebLinkAbout99-00424 ~ f'"\ MARITAL PROPERTY AND SEITLEMENT AGREEMENT This Agreement, made and entered into this ~ day of a. LYiA.f(_ -' . 1999, between ( LINDA H, MANNA I of7514 a, Mill Run Road, Fort Wayne, Indiana, hereinafter referred to as "Wife," and MICHAELJ, MANNA I of333 Allen Street, Carlisle, Cumberland County, Pennsylvania, hereinafter referred to as "Husband," WHEREAS, the parties hereto are now Wife and Husband, having been lawfully married to each other on October 23, 1988, in Massachusetts; and, WHEREAS, certain dilferences have arisen by and between the parties as a result of much they have now separated and the parties hereto are desirous of settling fully and finally their respective financial and property rights and obligation as between each other including, without limitation by specification: the settling of all matters between them relating to the o\Wership and equitable distn'bution of real and personal property; the sett1ing of all matters betweetl them relating to the past, present and future support, alimony and/or maintenance of Wife by Husband or of Husband of Wife; and in general, the settling of any and all claims and pOSSl'ble claims by one against the other or against their respective estates; and, WHEREAS, both and each of the parties hereto have been advised of their legal rights and the implications of this Agreement and the legal consequences that may and will ensue from the execution hereo~ and each has had the opportunity to consult with his or her own competent legal counsel independent of each other; and, WHEREAS, each party warrants, as part of the consideration of this Agreement, that each has fully and completely disclosed all infonnation of a financial nature requested by the other, and that no infonnation of such nature has been subject to distortion or in any manner being misrepresented; and WHEREAS, other than as set forth herein, Wife desires finally and forever to relinquish all of 1""'\ r-: her right of dower, rights as heir or surviving spouse or otherwise, actua~ currently existing, or inchoate, in and to the real and personal property of the Husband, now owned by him or which in the future may be owned by him, and all rights to counsel fees, or expenses and other than as set forth herein, Husband likewise wishes to relinquisb all his rights of curtesy, rights as heir or swviving spouse or otherwise, actual and currently existing or inchoate in and to the real and personal estate of the Wife, currently O'MIed by her or which she may O'MI in the future; NOW, TI-lEREFORE, the parties hereto intending to be legally bound hereby do hereby mutually agree as foUows; I. Advice of Counsel. Husband and Wife acknowledge that they have been given the opportunity to obtain the advice of counsel regarding the provisions of this Agreement and their legal effect in advance of the date set forth above to pennit such independent review. Each party acknowledges that he or she has had the opportunity to receive independent legal advice from counsel ofhis or her selection, and that each fu11y understands the facts and has been fu11y informed as to his or her legal rights and obligation, and each party acknowledges and accepts that this Agreement is, and under the circumstances, fair and equitable, after having the opportunity to receive such advice and with such knowledge, and that execution of this Agreement is not the result of any improper or illegal agreement or agreements. In addition, each party hereto acknowledges that he or she has had the opportunity to be fu11y advised by his or her respective attomey of the impact of the Pennsylvania Divorce Code, whereby the court has the right and duty to determine aD marital rights of the parties including divorce, alimony, alimony pendente lite, equitable distnbution of all marital property or property owned or possessed individually by the other, counsel fees and costs of litigation and, fu11y knowing the same and having the opportunity to be fu11y advised of his or her rights thereunder, each 2 ~ ("". party hereto still desires to execute this Agreement, acknowledging that the tenns and conditions set forth herein are fair, just and equitable to each of the parties, and waives his or her respective right to have the Court of Common Pleas of Cumberland County, or any other court of competent jurisdiction, make any detennination or order effecting the respective parties' rights to a divorce, alimony, alimony pendente lite, equitable distnlJUtion of all marital property, counsel fees and costs of litigation. 2, Separation. Husband and Wife do hereby mutually agree and consent to live sepamte and apart and do further agree that it shall be lawful for the Husband and Wife at all times hereafter to live separate and apart from each other, and to reside, from time to time, at such place or places as they respectfully shall deem fit, free from any control or restraint or interference, direct or indirect, by each other, 3, No Molestation, Harassment or Interference, Neither party shall molest, harass or interfere with the other or compel or endeavor to compel the other to cohabit or dwell with him or her by any means ooatsoever, 4, Mutual Property and Estate Waiver. Except as otherwise expressly set forth herein, in which event such express provision shall take precedence over this paragraph, the parties hereto intend that from and after the date of this Agreement, neither shall have any spouse's rights in the property or estate of the other, and to that end both parties waive, relinquish, and forbear the rights of dower or curtesy, rights to inherit, rights to claim or take the Husband or Wife's or mmily exemption or allowance, to be vested with letters of administration or letters testamentary, or to take against any will of the other, and each agrees with the other if either should die intestate, his or her share shall descend to vest in his or her heirs at law, personal representatives, and next of kin, excluding the other as though he or she had died a widow or widower. And each further agrees that should the other die I' 3 o r--. . testate, his or her property shall descend to and vest in those persons set forth in the other's Last Will and Testament as though the spouse so designated as beneficiary had predeceased the testator, The parties further agree that they may and can hereafter, as though unmanied, without any joinder by him or her, sel~ convey, transfer or encumber any and all real estate and personal property which either of them now or hereafter OMl or possess and further agree that the recording of this Agreement shall be conclusive evidence to all of his or her right to do so, The said Husband and Wife do hereby irrevocably grant, each to the other, should the exercise of this power hereby given be necessary, the right and the power to appoint one or more times any person or pcrsons whom the Husband or Wife shall designate to be the attomey-in-fiIct for the other, in their name and in their stead, to execute and acknowledge any deed or deeds, releases, quit claims, or satisfactions, under seal or otherwise, to enable either party hereto to alienate his or her real or personal property, but without any power to impose personal liability for breach of warranty or otherwise, Each of the parties hereto further waives any right of election contained in Chapter 22 of the Pennsylvania Probate Estates and Fiduciaries Code, and any right to seek or have an equitable distnbution of manied property ordered by the Court pursuant to Section 3502 of the Divorce Code. Each of the parties hereto further agrees that neither shall hereafter be under any legal ob6gations to support the other, pay any expenses for maintenances, fimera~ buria~ or otherwise for the other, and to that end each of the parties hereto does hereby waive any right to receive support, alimony, alimony pendente lite, counsel fees, expenses, or any type of financial assistance whatsoever from the other, ~ as otherwise expressly provided for herein, 5, Division of Personal Property. The parties agree that they have divided among themselves all of the personal property to their mutual satisfilction including automobiles, all financial accounts, and household furnishings. 4 ,--. Neither party shall make any elaim to any such items of marital property, or of the separate personal property of either party, \\itich are now in the possession alld/or uader the control of the other, From 8lId after the date of the signing of this Agreement both parties shall have complete freedom of disposition as to their separate property \\itich is in their possession or control pUTSU8llt to this Agreement 8lId may mortgage, sel~ grant, convey or otherwise encumber or dispose of such property, whether real or persona~ \\itether such property was acquired before, duri!lg or after marriage, 8lId neither Husb8lld nor Wife need join in, consent to, or acknowledge 8lIY deed, mortgage, or other instrument of the other pertaining to such disposition of property, 6, Debts. The parties agree that all marital debt has been satisfactorily divided, The parties agree to be responsible for 8lIY other individual debts \\itich are presently in their individual names 8lId to indemnify 8lId hold hannless the other for the aforementioned debts., 7, Future Debts, The parties further agree that neither will incur 8lIY more future debts for which the other may be held liable, 8lId if either party incurs a debt for which the other will be liable, that party incurring such debt will indemnifY and hold the other harmless from 8lIY 8lId all liability thereof. 8 , Real Property, The parties acknowledge that a bankruptcy proceeding will be filed in which the real property will be surrendered, 9, Support, Alimony and Alimony Pendente Lite. Both parties agree to waive 8lIY 8lId all rights either may have to spousal support, alimony and/or alimony pendente lite from this time forward into the future, Husb8lld agrees to carry health insur8llce and to pay $200,00 per month in child support for their son, Matthew until Matthew reaches ] 8 years of age or graduates 5 "". .~ from high school, whichever is later, Said payments arc payable twice monthly in increments of $100,00 on or about the lSd' and 30th of each month, Un reimbursed medical expenses shall be the responsibility of Wife, Husband agrees to pay for Matthew to be covered by a health insurance plan through his employment until Matthew attains the age of eighteen (/8; or as long as the health insurance plan will continue to cover the child beyond age 18, so long as said coverage docs not cost Husband any additional money. Husband also agrees to pay one half of extraordinary dental expenses such as braces or other major dental work. Husband agrees to pay toward the undergraduate college expenses of Matthew the amount that would be necessary for him to matriculate as an in-state resident at a state institution such as Penn State University, Such expenses will include tuition, board and room in a dormitory of the college and books. Any other expenses for clothing, spending money, automobiles or any other extras will not be Husband's responsibility unless he should vohmteer to pay them. Matthew would not be required to attend Penn State University, but the expenses at Penn State University would establish the maximum that Husband would be required to pay at any other institution that he would prefer to attend. This obligation extends only for four years from the date that Matthew graduates from high schoo~ unless illness or accident prevents him from completing his college within that time; in such case, any period of disability resulting from accident or injury would be excepted from the four years, 10. Pension, Each party agrees to waive any right they may have in the others' pension or retirement plan, Father agrees to establish a custodial account under the Uniform Transfers to Minors Act in Matthew's name in the amount of $90S.00 representing one half of Husband's 40lK plan 6 .-~ payable to Matthew pursuant to the Act at the age of twenty-one (21), I I. Counsel Fees and Court Costs, The parties agree to be responSIble for their respective legal fees and court costs incurred in the process of any divorce action or separation agreement. 12. Divorce, The parties acknowledge their intention and agreement to proceed in an action in divorce to obtain a final decree in divorce by mutual consent on the grOlUlds that their marriage is irretrievably broken, and to settle amicably and fu1Iy hereby all claims raised by either party in any divorce action, The parties agree to execute any and all documents neceSS8I)' for the enhy of a final divorce decree, 13, Breach, In the event that either party breaches any provision of this Marital Property and Settlement Agreement, he or she shall be responsible for any and all costs incurred to enforce the terms hereof; including, but not limited to, court costs and reasonable counsel fees of the other party, In the event of breach, the other party shall have the right, at his or her election, to sue for damages for such breach or to seek such other and additional remedies as may be available to him or her, 14, Enforcement. The parties agree that this marital settlement agreement or any part or parts hereof may be enforced in any court of competent jurisdiction. 15. Applicable Law and Execution, The parties hereto agree that this marital settlement agreement shall be construed under the laws of the Commonwealth of Pennsylvania and shall bind the parties hereto and their respective heirs, executors and assigns. This document shall be executed as original and multiple copies. 16, The Entire Agreement. The parties acknowledge and agree that this marital settlement agreement contains the entire understanding of the parties and supersedes 7 . -. .... ) t . .. , ': L , .' ( ~.l ; . , '. .' , .. r " , I t.:._ I I ~.L. I ll._ ~- ) " 0 c-, -.. . i " \..0 ;:- (, t:-; ,. - . . ("- OJ ". , -" C) , ~.....J ~~ . " . :) if' L ; " ;\.~ ""." J :.[.1 , ::;~J ) ::-..:.... l!. en ~:.J r' -' (J', U - ~ ~ ~. >- ~~) ~ c- ", i .:; , , .- .., , , , '. : .' ... , .' ..;:.... :.:i ',r; ['1 '. -, L~_ i ;~i . ,.. U... . '.' en :":J C (;"1 C) o:;:"":rto,~ '.... ---,. ~...,. ~. :-....~ l() ">- C'" ,,; f::: I , 1 ;.Jj - . 0> ) , - , - -- J... oJ - j .' - ,'-' '-' " ') , I.!:.) " - . . / ell :"j -. --; rlJ 0::. ., ::::; , -) ~:i I.! c.n (0) 00, u ~ .~ '- "- ,~-....