HomeMy WebLinkAbout05-12-08 (8)
IN RE:
HERHSEY TRUST COMPANY
EXECUTOR OF THE ESTATE of
Genevieve W. Castrodale, deceased
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RECEIPT, RELEASE, APPROVAL OF
ACCOUNT AND INDEMNITY AGREEMENT
This Receipt, Release, Approval of Account and Indemnity Agreement (hereinafter called the
"Release") is given this 1L- day of /'1'Lili?.f1 , 2008, by l.iU.feJ.4 _ SI,afw in
his (her) capacity as Vi U I~s(d~ D.f lY1/ sr/M W!'f,J(-f of Presbyterian Homes
Inc. (hereinafter called the "Beneficiary"), to and in favor of Hershey Trust Company, a
Pennsylvania Company with its principal office located at Hershey, Pennsylvania 17033
(hereinafter called the "Trust Company").
For the purpose of inducing the Company to make the distribution described herein
and intending to be legally bound, the Beneficiary hereby represents, warrants, covenants and
agrees as follows:
1. Background. Upon the death of Genevieve W. Castro dale on November 25,
2006, Hershey Trust Company and Anne C. Golovin were named Executors ofthe Estate of
Genevieve W. Castrodale in accordance with her Last Will and Testament, dated August 22,
1985 and codicil dated July 14, 1995. Estate administration is now complete and the
Executor is prepared to make distribution in accordance with Item IV (a) of the Last Will
and Testament.
2. Acknowledgment of Receipt and Release of Trust Company. In consideration
of distribution being made as described on page s 16 and 17 ofthe enclosed First and Final
Account, the Beneficiary releases absolutely and discharges the Trust Company and its
officers, directors, employees, agents, representatives, successors and assigns from any
liability whatsoever in connection with both such distribution and the administration
generally of the Estate of Genevieve W. Castrodale to which this distribution relates.
3. Indemnity Agreement. The Beneficiary agrees to indemnify the Trust Company
and hold it harmless, to the extent of any funds or assets received by the Beneficiary from the
Trust Company hereunder, from and against the Beneficiary's pro rata share of any and all
liability (including attorneys' fees and other costs or expenses of defense) to which the Trust
Company may be subjected by reason of its administration of the Estate of Genevieve W.
Castrodale. In connection with this Agreement, the Beneficiary agrees to refund or return,
promptly upon the Trust Company's written demand, any funds or assets distributed by the
Trust Company 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 of law or of fact.
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4. Approval of Accounting. The Beneficiary has examined the attached account of
the Trust Company and accepts and approves it as being true, correct and complete in all
particulars, and approves a waiver of an income accounting.
5. Miscellaneous. The construction, effect, validity and performance ofthis Release
shall be governed in all respects by the internal substantive law of the Commonwealth of
Pennsylvania.
The provisions ofthis Release shall be deemed severable in the event that anyone 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 and its successors and assigns.
IN WITNESS WHEREOF, the Beneficiary has executed and sealed this Release on
the date first above inscribed in the presence of a notary.
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vNJam~t~i 4~~ (SEAL)
Title: Vi C<. Iresid~1 IYi.(ssldh S t./ff#
STATE OF NORTH CAROLINA
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COUNTY OF
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On the /7 &, day of /iff ILl" ' 2008, before me, the
s scriber, a Notary Public in and for the Stat and County aforesaId, personally appeared,
O-il rL .. /ria , in his Qher)) capacity as
. /1/ /.{) ({) LL f of Presbyterian Homes Inc., Beneficiary herein, who
executed e same intending to be legally bound.
Witness my hand and Notarial Seal the day and year aforesaid.
~Lw O-J, 1< ~/l::LL{ ~
Notary Public
COMMONWEAL Trl OF PENNSYLVANIA
Notarial Seal
Susan K. Nailor, Notary Public
Silver Spring Twp.. Cumberland County
My Commission Expires Nov. 22, 2008
Member. Pen~Svi\!2:';? t','sociation Of Notaries