HomeMy WebLinkAbout12-07-07 (3)
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RECEIPT OF DISTRIBUTION. RELEASE AND INDEMNITY AG~~NTnl
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~ This Jtl-12.se, and indemnity agreement (hereinafter called the "RELEAS~...'~f~iven.18is
~ day of 2007, by: !..~! Q -'71 :x
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OMS Internamtional ~~ U1
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(hereinafter called the "BENEFICIARY") to and in favor of Ben L. Kocher and Frederick W.
Kocher, CO-EXECUTORS of the Estate of MARGARET M. KOCHER, Deceased (hereinafter called
"CO-EXECUTORS").
For the purpose of inducing the Executor to make the distribution described herein, and intending
to be legally bound, the Beneficiary hereby represents, warrants, covenants and agrees as follows:
1 Acknowledgment of Receipt - The Beneficiary acknowledges that they will receive of and from
the Fiduciary the following securities upon returning this Receipt & Release document properly
signed, witnessed and notarized to the department.
Final Distribution in the form of Check #1034 the amount of $2,042.05
2 Release - AND THEREFORE, the Beneficiary hereby does by these presents remise, release,
quit-claim, and forever discharge the said Co-Executors, their heirs, successors and assigns of and
from the said payments to me and of and from all actions, suits, payments, accounts, reckonings,
claims and demands whatsoever, for or by reason thereof, or of any other act, matter, cause or
thing whatsoever.
3 Indemnity Agreement - The Co-Executors have indicated a willingness to make a distribution
without the adjudication by the Court. Accordingly, the Beneficiary agrees to indemnify the
Co-Executors and hold the harmless, to the extent of any funds or assets received by the
Beneficiary from the Co-Executors hereunder, from and against the Beneficiary's pro rata share
of any and all liability (including attorney's fees and other costs or expenses of defense) to which
the Co-Executors may be subjected by reason of its administration of the account. In connection
with this Agreement, the Beneficiary agrees to:
a) Refund or return, promptly upon the Co-Executor's written demand, any funds or assets
distributed by the Co-Executor to the Beneficiary, if the distribution thereof is determined
at any time to have been an erroneous or negligent distribution to the Beneficiary,
whether such error or negligence was or was claimed to have been premised upon a
mistake oflaw or of fact.
b) Modify and displace any otherwise applicable period limiting the time within which the
Co-Executor's action to collect an erroneous or negligent distribution must be
commenced, so as to provide that the Co-Executors need not commence an action to
collect an erroneous or negligent distribution to the Beneficiary until two (2) years after
such time as the Co-Executors shall have obtained actual knowledge of such error or
negligence.
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4 Miscellaneous - The construction, effect, validity and performance of this Release shall be
governed in all respects by the laws of the Commonwealth of Pennsylvania.
The provisions of this Release shall be deemed severable in the event that one or more thereof shall be
deemed invalid or unenforceable, with the effect that the remaining provisions shall persist as if such
invalid or unenforceable provision had never been a part hereof.
This Release shall bind the Beneficiary their heirs, representatives, successors, and assigns together with
any children with respect to whom the Beneficiary is a natural guardian.
IN WITNESS WHEREOF, the Beneficiary has executed and sealed this Release on the date first
above inscribed and the presence of at least two (2) witnesses.
Messiah Village