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HomeMy WebLinkAbout01-10-11 1 ':1.. ~. .J: 4:.%=J.~ .DTI ~\!G STATE OF NORTH CARO>~,~A~ r~ ((~ ~. ~ ~ %~ :~ :~ IN IwGLl COUNTY OF HENDERSONV COURT OF JUSTICE SUPER~O COURT DIVISION ORPHH~'S ~ F 1~1~ r~~Y - ~E~9~ ~(~. E CLERK ~U~T C ~v'~~f ~L~^~'~ C~ PA- IN THE MATTER OF THE WILL OF I ~~~14~ ~ ~ 4 ~ 0"~' t` ~ tf ~ 3 LEOTA L. SCHINDLER, Deceased. JiJDGMENT APPROVING FAMILY SETTLEMENT AGREEMENT THIS MATTER CAME BEFORE the undersigned Judge presiding over the General Court of Justice in and for Henderson County, North Carolina upon the Motion of the Caveators and Propounders pursuant to N.C.G.S. § 31-37.1 for approval of a Family Settlement Agreement entered into by the parties and for entry of a Judgment effecting the terms and conditions of the Family Settlement Agreement. From the record and evidence presented, the Court makes the following: FINDINGS OF FACT 1. Leota L. Schindler, (hereinafter "Decedent") died on May 5, 2009 in Henderson County, North Carolina. 2. On July 13, 2009, Daniel L. Schindler, the Decedent's eldest son, presented for probate in the office of the Clerk of Superior Court for Henderson County, North Carolina, a paper writing executed on Apri128, 2009 as the Last Will and Testament of the Decedent. 3. Daniel L. Schindler was named Executor of the Decedent's Estate in that paper writing. Letters of Administration were issued to Daniel L. Schindler in that capacity on July 13, 2009 and he has been serving as Executor of the Decedent's Estate since that time. 4. On August 4, 2009, a Caveat entitled "In The Matter of the Will of Leota L. Schindler, Deceased" was filed in the Superior Court of Henderson County by David M. Schindler and Donald I. Schindler (a/k/a Stefan Schindler), the Decedent's two other sons. The Caveators, as Decedent's direct descendants, are individuals who would inherit from the Decedent upon her death intestate. Both Caveators are also named as beneficiaries under an earlier will executed by the Decedent. 5. The Propounders are all legatees under the April 28, 2009 paper writing that has been admitted to probate. 6. The Caveators alleged that the April 28, 2009 paper writing was not the Decedent's Last Will and Testament as it was made at the time of its execution as a result of fraud, duress and/or undue influence and at a time when the Decedent lacked the requisite mental capacity to execute a will. 7. The Propounders denied the allegations upon which the Caveators sought to set aside the Will. 8. The parties have engaged in discovery, and the exchange of information including interviewing numerous potential witnesses, written discovery and taking depositions in this proceeding. 9• Karen Schmit is a named legatee under the paper writing admitted to probate. Ms. Schmit elected not to appear and align herself with either party in this proceeding. Pursuant to a previously entered Order of this Court, Ms. Schmit is nonetheless bound by the resolution of this Caveat proceeding byway of a Family Settlement Agreement. 10. All parties who have any pecuniary interest in the Decedent's Estate. have joined in the Family Settlement Agreement. As noted above, Karen Schmit, who elected not to align herself with either the Propounders or the Caveators, is bound by the terms of the Family Settlement Agreement. 11. The parties to the Family Settlement Agreement recognize and acknowledge that the matters asserted by the Caveators in the Caveat have been asserted in good faith upon reasonable basis in fact, and that the Propounders propounded the Will in good faith upon reasonable basis in fact. The parties fiu~ther recognize and acknowledge that the contentions by the Caveators and Propounders present genuine issues of contested fact requiring a jury trial if the case were not concluded by agreement, that the result of any such trial would be uncertain and that the costs of any such trial would be great, would significantly reduce the value of the Decedent's Estate available for distribution, would likely result in ill will and acrimonious debate and would result in substantial delay in the settlement and distribution of the Decedent's Estate. 12. The Family Settlement Agreement, a copy of which is attached to and incorporated herein by reference, is fair, reasonable and equitable in all respects, has been entered into in good faith after lengthy negotiations with the assistance of counsel and has been entered into by the parties, who are all of full age and competent. 13. Based upon the evidence presented, the Family Settlement Agreement is fair and reasonable to all the parties, has been fairly and reasonably negotiated and has been entered into as the result of arm's length negotiations between all parties and serves and promotes the best interest and welfare of all the parties and of the Estate. 14. The Family Settlement Agreement attached hereto and incorporated herein by reference should therefore be approved in all respects. UPON THE FORGOING FINDINGS OF FACT, the Court makes the following: CONCLUSIONS OF LAW This Court has jurisdiction over the subject matter and the parties to this action. 2. The Family Settlement Agreement is fair and reasonable and in the best interest of all parties. The Family Settlement Agreement has been fairly entered into as the result of arm's length negotiations with the assistance of experienced counsel and the rights of others, including creditors, if any, of the Decedent's Estate are not adversely affected by the Family Settlement Agreement. 3. The Family Settlement Agreement attached hereto and incorporated herein by reference is a valid and enforceable contract binding upon the parties and should be approved and confirmed in all respects. 4. Daniel L. Schindler, in his capacity as Executor of the Decedent's Estate, shall be authorized, empowered and directed to administer and distribute the Decedent's Estate pursuant to the terms of the April 28, 2009 Will admitted to probate as amended by the terms of the Family Settlement Agreement. NOW, THEREFORE, based upon the evidence presented and the forgoing Findings of Fact and Conclusions of Law, it is Ordered, Adjudged and Decreed that: The Court has jurisdiction over the subject matter and of all parties to this action; 2. The Family Settlement Agreement attached hereto and incorporated herein by reference shall be and hereby is approved in all respects; 3. Daniel L. Schindler, in his capacity as Executor of the Decedent's Estate, is authorized, empowered and directed to administer and distribute the Decedent's Estate pursuant to the terms of the April 28, 2009 Will admitted to probate as amended by the terms of the Family Settlement Agreement. 4. The Apri128, 2009 Will, a copy of which is attached and incorporated herein by reference, as amended by the Family Settlement Agreement, is hereby sustained and admitted to probate in solemn form pursuant to N.C.G.S. §31-37.1; 5. Karen Schmit is bound by the resolution of this matter as set forth in the Family Settlement Agreement; STATE OF NORTH CARO~ ~'~ COUNTY OF HEIVDERSON IN THE GENERAL COURT OF JUSTICE ~~~~ ~~ _~ ~ ~. ~ ~ ; SUPERIOR COURT DIVISION BEFORE THE CLERK 50~~ i,:;`;, ~ 11'. ~~i. 09 E 501 IN THE MATTER OF HE WILL OF LEOTA L. SCHINDLER, Deceased. FAMILY SETTLEMENT AGREEMEN T This Family Settlement Agreement made this _ by and between David M. Schindler and Donald I. Schrnd erl (a/k/a Stefan Schindler ereina 10, "Caveators"), Daniel L. Schindler, Rebecca Nurick and Cynthia Schindler Ko e~aver (hereinafter "Propounders"), and Darnel L. Schindler, in his representative capacity a sExecu er of the Estate of Leota L. Schindler (hereinafter, "Decedent's Estate" or the "Estate"), for RECITALS 1 • Leota L. Schindler, (hereinafter "Decedent") died on May 5, 2009, in Henderson County, North Carolina. 2• On July 13, 2009, Daniel L. Schindler, Decedent's eldest son, presented for probate in the office of the Clerk of Superior Court for Henderson County, North Carolina a paper writing executed on April 28, 2009 purporting to be the Decedent's Last Will and Testament. The paper writing was admitted to probate on that date and Letters of Administratio were issued to Daniel L. Schindler on July 13, 2009 as Executor of the Decedent's Estate. He has been serving in that capacity since that time. 3• On August 4, 2009, a caveat to the Apri128, 2009 paper writing was filed in the Superior Court of Henderson County by David M. Schindler and Donald I. Schindler a/k/a Stefan Schindler), the Decedent's other two sons, seeking to set aside the April 28, 2009 (a er writing (hereinafter, the "Caveat"). They are persons who would inherit from the Decedent u on her death intestate and both of them would inherit under a former will of the Decede P nt. 4• The Propounders are legatees under the paper writing admitted to probate 5• Karen Schmit is a legatee under the paper writing admitted to probate. Ms. Schmit elected to not align herself with either the Caveators or the Propounders in this matter. However, pursuant to an Order of this Court, Ms. Schmit is nonetheless bound by the resolution of this matter through this Family Settlement Agreement. 6• The Caveators were represented by their attorney Stephen J. Grabenstein of the Van Winkle Law Firm. The Propounders were represented by E. Thomison Holman of Adams Hendon, Carson, Crow & Saenger, P.A.. 7• This Family Settlement Agreement was made and entered into following length arms length negotiations between the parties with the assistance of their counsel and after the parties had engaged in extensive discovery in the caveat proceeding. 8• The parties recognize that the contention of the Caveators, to wit, that the A ril 28, 2009 Will was executed as the result of undue influence and while the Decedent was un duress and that the Decedent lacked necessary mental capacity at the time she executed the w er and that the contentions of the Propounders that the Decedent was not unduly influenced in anl~ way or under any duress when she executed the April 28, 2009 and that she possessed the necessary mental capacity to execute a will at that time have been made with reasonable basis in fact and in good faith so that there are substantial issues of fact that would require a 'ur tri no settlement agreement were made. J y al if 9• The parties further acknowledge that the trial of the Caveat would have resulted in extended adversarial litigation and may have resulted in ill will and harsh feelings between the parties, which the parties desire to avoid, all of which has influenced the decision made b the parties to enter into this Family Settlement Agreement. y 10. The parties further acknowledge that if the Caveat were to proceed to trial various substantial additional legal expenses and costs would be incurred, there would be substantial delay in the settlement and distribution of the Decedent's Estate and that the outcome of such litigation would be uncertain, all of which has also influenced the decision made b the parties to enter into this Family Settlement Agreement. y Based upon the foregoing factors, in order to avoid the additional expenses of litigation in order to obtain a known and certain result, in order to avoid the possibility of ill will and harsh eelings that would likely result from continuing the Caveat proceeding, to bring about a sure and satisfactory result to the controversy and for other good and valuable consideration, the recei t and sufficiency of which is hereby acknowledged, the parties have entered into this Famil Settlement Agreement upon the following terms and conditions subject to the approval of a Superior Court Judge presiding over the Courts of Henderson County, North Carolina in accordance with the applicable requirements of law. AGREEMENT Now, therefore, based upon the factors recited above and in further consideration of the respective promises, covenants, and agreements of the parties as hereinafter set forth, the parties agree as follows: 1 • The paper writing dated April 28, 2009, shall be admitted to probate in solemn form without the necessity of a jury verdict pursuant to the provisions of N.C.G.S. Section 31 - 37.1. 2• The Executor of the Decedent's Estate shall distribute the assets of the Decedent's Estate as follows: 2 a. The Executor of the Decedent's Estate shall distribute to David M. Schindler and Donald I. Schindler (a!k/a Stefan Schindler), two of Decedent's direct descendants, the total sum of two hundred seventy-two thousand two hundred and fifty dollars ($272,250.00) with $136,125.00 being distributed to David and $136,125.00 bein distributed to Donald. Such payment shall be made through counsel for the Caveato g and shall be paid within sixty (60) days of a Judge for the Superior Court for Henderson County approving this Family Settlement Agreement. The understand that in the event of additional, presently unknown claims of any creditor being made against the Decedent's Estate, excluding any claim or obligation incurred on behalf of the Estate by Daniel L. Schindler as Executor of the Estate, or any claim or obligation relating to the home or any other asset of the Estate being distributed to the Propounders pursuant to paragraph 2(d) below, the Executor or other representative of the Decedent's Estate, may bring before the Clerk of Superior Court for Henderson County, N.C., or other appropriate clerk, court, venue or jurisdiction, an action, claim or other proceeding to recover from the Caveators, under a pro rata theory or other available theory, law, or claim, a portion of the funds that may be necessary to pay or satisfy said claim, any such action, claim or proceeding being expressly excluded from the release set forth in paragraph 7.a. and b., below. The parties understand that the Caveators contest both the Executor's right to take such action and the Executor's pro rata theory or other available theory, law or claim for handling any such non-excluded claim. [This provision is not intended to, and shall not, increase or alter in any way the obligation of the Estate or any other person to any creditor of the Estate other than as otherwise provided by applicable law; the provisions hereof are not intended to benefit any creditor of the Estate.J b. The distribution described in the precedin interest, claim or right of any kind which Da d M. ~ ndleraand DonalduI.1 Schind er (a/k/a Stefan Schindler), and/or their respective heirs, executors, administrators, representatives, successors or assigns, have in the Decedent's Estate. Without limitation as to the foregoing, except as maybe reasonably necessary to effectuate the distributions to be made to them pursuant to paragraph 2.a. above, neither David M. Schindler nor Donald I. Schindler will have the right to participate in, or receive any information relating to, the administration of the Estate after the approval of this Family Settlement Agreement. c. The Decedent's Decoration of Chivalry pin was to have been distributed by the Executor of the Decedent's Estate to Karen Schmit. The Executor believes that the pm was in his personal briefcase that was stolen, along with a laptop computer and other personal items, following a recent meeting with Propounder's counsel. To the extent the pin can be recoveredllocated, it shall be distributed to Karen Schmitt if it is not recoveredllocated, Executor, considering the sentimental and monetary value of the pin buf ultimately in his sole discretion, shall determine an appropriate replacement item of personal property from the Estate and distribute it to Kazen Schmit in replacement for the pin. d. After the distributions to be made pursuant to paragraphs 2.a. and 2.c. above, the remaining assets of the Decedent's Estate shall be distributed such that thirty-seven and one-half percent (37.5%) are distributed to Daniel Schindler, thirty-one and one quarter percent (31.25%) are distributed to Rebecca Nurick and thirty_one and one quarter percent (31.25%) are distributed to Cynthia Schindler Koppenhaver. The remaining assets of the Decedent's Estate to be distributed to Daniel Schindler, Rebecca Nurick and Cynthia Koppenhaver hereunder include, among any other remaining Estate assets, the net proceeds from the sale of Decedent's home located at 2875 Sunset Dr., Camp Hill, PA 17011, which home shall be listed for sale and sold by Daniel Schindler, as Executor, in accordance with applicable law. It is understood and agreed that the distributions to be made pursuant to this paragraph 2.d., shall be made only after the distribution discussed in paragraph 2.a. payment of all loans, advances, debts, expenses, costs of administrationdand other valid obligations of the Estate shall have been paid. Without limitation as to other debts and obligations of the Estate, Rebecca Nurick and Cynthia Schindler Koppenhaver understand and acknowledge that Daniel Schindler and Che 1 Schindler have advanced funds for the benefit of the Estate for which they are entitled to reimbursement, and may (with no obligation to do so) advance additional funds for the benefit of the Estate (including but not necessarily limited to funds to allow for the payments to Caveators pursuant to paragraph 2.a., above, and/or the Decedent's home), for which they would also be entitled to reimbursement. e. 'The parties understand and agree that Mrs. Schindler's personal property will remain in the possession of, and owned by, the party currently holding or possessing the personal property, whether the personal property was acquired or obtained before or after the Decedent's death. The parties further understand and agree that if any part to this proceeding is interested in a specific item of tangible personal property, he or she can make a request for that item to the person possessing the item but may not compel or force a transfer of ownership of any requested item, any such decision being solely at the discretion of the party owning/possessing the personal property 3• It is understood and agreed that, (a)all attorneys' fees, advanced expenses and other costs incurred by or for the benefit of any of the Caveators in connection with the Caveat the Decedent's Estate (including its administration) or the Decedent, personally, includin ,but g not united to, attorneys' fees, advanced expenses and costs owed to the Van Winkle Law Firm in Asheville, NC, and Cunningham and Chernicoff, P.C., in Harrisburg, PA, shall be paid b the Caveators from the distributions made to them pursuant to paragraph 2.a., above or from the Caveators' personal funds, and; (b) that the attorneys' fees, advanced expenses and other costs incurred by the propounders and Daniel Schindler, as Executor of the Estate, in connection with the Caveat or the Decedent's Estate (including its administration), including, but not limited to attorneys' fees owed, advanced expenses and costs owed to the law firm of Adams Hendon arson Crow & Saenger, P.A., and McGuire Wood & Bissette, P.A., in Asheville, NC., and McNees Wallace & Nurick, LLC, in Harrisburg, PA, shall be paid from, or reimbursed to the paying Propounder from, the assets of the Decedent's Estate remaining after satisfaction of the distributions made to Caveators pursuant to paragraph 2.a., above. 4 4• The Parties shall not disclose the existence of this Settlement Agreement or the contents or terms thereof to any person or entity beyond what is required to obtain Court approval of the Family Settlement Agreement, without the prior written consent of the other parties. Notwithstanding the foregoing, the parties may disclose this Agreement and the terms of this Settlement to their attorneys, accountants, financial and tax advisors, and spouses. 5• The Parties further understand and agree that no art documentation or information from this caveat proceedin p y may make use of any whether in North Carolina, Pennsylvania or any other jurisdictiony Without limit tlol°ira~tpute, foregoing, this agreement is intended to, and shall, ex ressl ° the any deposition taken in this matter in or relating to any othereproa eed ng o~ dispute cnrrentl f pending between any or all of the parties or signatories to this Agreement, or any other dis ute that may arise in the future, whether as evidence, impeachment or otherwise. The de ositions and other discovery in this matter shall be subject to the confidentiality provision re erred to above, and the parties shall instruct their respective counsel for Caveators and Propounders to comply with this requirement. 6• Upon approval of this Settlement Agreement pursuant to N.C.G.S. Section 31- 37.1, the parties authorize the presiding judge to enter Jud sustaining and upholding the Will as modified by the t r~insn of ithis Famly t Settlem nt Agreement. 7.a. Upon approval of this Family Settlement Agreement, and except as provided for by the terms of this Family Settlement Agreement, Caveators, and Barbara Schindler, wife of David Schindler, for themselves, their heirs, executors, administrators, successors representatives, agents, and assigns, release, acquit and forever discharge each of the Propounders, and Cheryl Schindler, wife of Daniel Schindler, and their respective heirs executors, administrators, successors, representatives, agents and assigns, of and from any and all claims, demands, damages, costs, expenses, and causes of actions, of any kind or nature, ast present or future, arising out of or relating in any way to: the Caveat; the Decedent's Estatep the administration of the Decedent's Estate; the transfer of property and/or assets by the Decedent directly or through any fiduciary, during her lifetime; any fiduciary duty or other obli ation g owed at any time by any of the Propounders or Cheryl Schindler to the Decedent; defamation, libel, slander or any other claim or cause of action arising out of communications b the Propounders or Cheryl Schindler with the Decedent or her attorneys (including Robert Kline and/or concerning the Decedent, her Estate, her roe ) estate (wherever located) or her property and/or asset during her lifetim Without linutatio~ her to other matters not included within, or affected b n as acknowledge that this release is not intended to affect or release,rand shal not affect or relessly any claims, disputes, issues or other matters ast ase, and David Schindler relating to or arising out of the ongoing arbitrationematter beinel ondu dler in Pennsylvania concerning business disputes between said parties concerning Schindler's Inc and other businesses/entities. b• Upon approval of this Family Settlement Agreement, and except as provided for by the terms of this Family Settlement Agreement, Propounders, and Cheryl Schindler, wife of 5 Daniel Schindler, for themselves, their heirs, executors, administrators, successors representatives, agents, and assigns, release, acquit and forever discharge each of the Caveators, an Barbara Schindler, wife of David Schindler, and their respective heirs, executors, administrators, successors, representatives, agents and assigns, of and from any and all claims demands, damages, costs, expenses, and causes of actions, of any kind or nature, past, present or future, arising out of or relating in any wa to: admimstration of the Decedent's Estate; the transfer off propertyaand/or asset sb t'the D ate; the directly or through any fiduci Y ecedent, owed at any time by and of theyCavea ors or 1Barbara Sc~~e c to duty or other obligation libel, slander or any other claim or cause of action arising out of coDmmunicaho s bati~he Caveators or Barbara Schindler with the Decedent or her attorneys (including Robert Kline and/or concerning the Decedent, her Estate, her roe ) estate (wherever located) or her property and/or asset during her lifetime.~Without limitation her to other matters not included within, or affected b n as acknowledge that this release is not intended to affect or release,rand shall no affect or releasly any claims, disputes, issues or other matters ast e p ,present or future, between Daniel Schindler and David Schindler relating to or arising out of the ongoing arbitration matter being conducted in Pennsylvania concerning business disputes between said parties concerning Schindler's Inc. and other businesses/entities. g• The parties each agree to execute any additional instruments that may be reasonably required to complete the settlement as contemplated by this Family Settlement Agreement, provided such additional instruments are in a form reasonably satisfactory to counsel for the respective parties. 9• Counsel for the parties shall take all necess this Agreement to a judge presiding over the Superior Court o Henderson County for ap srovalt It is understood and agreed that this Family Settlement Agreement shall not become effective until and unless a judgment of the Superior Court has been entered approving it in all respects and findings of fact have been made that this Agreement is in and serves the best interest of all parties. The parties further agree that if a ud this Family Settlement Agreement in full, unconditionally and without moth or Court approving appeal, to move to amend the judgment or to correct the 'ud fication, all rights to which would prevent the judgment from being immediat Iy, ~lytandtfinally er o~ eable and effective are irrevocably waived and released. 10. This agreement shall be and is binding upon the parties and shall enure to the benefit of the parties, their respective heirs, representatives, successors and assigns. 11. Each party to this Family Settlement Agreement acknowledges receipt of full and fair consideration for their respective promises and covenants of the parties as herein set forth. 12. The parties covenant and agree that this Agreement sets forth all terms and conditions upon which they have agreed, that there are no conditions or agreements other than those stated in this instrument and that all prior negotiations and representations have .been merged into and terminated by this instrument. 6 13. The law of the State of North C 1' aro ma shall govern alt aspects of the Family Settlement Agreement. 14. This agreement may be executed in multiple counterparts, which together shall constitute the original. In Witness Whereof the parties have hereunto affixed their respective signatures and seals as of the day and st above written. ~, David M. c ndler (SEAL) (SEAL) Donald I. Schindler (a/k/a Stefan Schindler) Rebecca Nurick (SEAL) Daniel L. Schindler, Individually Eand) as Executor of the Estate Leota L. Schindler, Deceased. (SEAL) Cynthia Schindler Koppenhaver o~.-~- ~-~ .DO~ (SEAL) Barbara Schindler Cheryl Schindler SEAL 13. The law of the State of North C Settlement Agreement. arolma shall govern atl aspects of the Family 14. This agreement may be executed in multiple counterparts, which together shall constitute the original. In Witness Whereof the parties have hereunto affixed their respective signatures and seals as of the day and year first above written. (SEAL) ~ 1 d~.~ /n David M. Schindler -~+~r~,SEAL) Do ld I. Schindler (a/k/a Stefan Schindler) Rebecca Nurick (SEAL) (SEAL) Daniel L. Schindler, Individually and as Executor of the Estate Leota L. Schindler, Deceased. (SEAL) Cynthia Schindler Koppenhaver Barbara Schindler (SEAL) Chervl Schindler SEAL 13. The law of the State of North Carolina shall govern all aspects of the Family Settlement Agreement. 14. This agreement may be executed in multiple counterparts, which together shall constitute the original. In Witness Whereof the parties have hereunto affixed their respective signatures and seals as of the day and year first above written. David M. Schindler (SEAL) Rebecca Nurick (SEAL) Cynthia Schindler Koppenhaver (SEAL) Donald I. Schindler (SEAL) (a/k/a Stefan Schindler) aniel L. Schindler, IndividuallySEand) as Executor of the Estate Leota L. Schindler, Deceased. Barbara Schindler ~~ Gt ~ ~.~rG ~ rs Chery S 'ndler (SEAL) 7 12. The parties covenant and agree that this Agreement sets forth all terms conditions upon which they have agreed, that there are no conditions or agreements and those stated in this instrument and that all prior negotiations and representations have other than mto and terminated by this instrument. been merged 13. The law of the State of North Carolina shall govern all aspects of the F Settlement Agreement. amily 14. This agreement may be executed in multiple counterparts, which to shall constitute the original. gether In Witness Whereof the parties have hereunto affixed their respective signatures an as of the day and year first above written. d seals David M. Schindler (SEAL) ~-`" (SEAL) Rebecca Nurick Donald I. Schindler (SEAL) (a/k/a Stefan Schindler) Daniel L. Schindler, IndividuallyE and as Executor of the Estate Leota L. Schindler, Deceased. Cynthia Schindler Koppenhaver (SEAL) Cheryl Schindler SEAL Barbara Schindler (SEAL) 7 11. Each party to this Family Settlement Agreement acknowledges receipt of full and fair consideration for their respective promises and covenants of the parties as herein set forth. 12. The parties covenant and agree that this Agreement sets forth all terms and conditions upon which they have agreed, that there are no conditions or agreements other than those stated in this instrument and that all prior negotiations and representations have been merged into and terminated by this instrument. 13. The law of the State of North Carolina shall govern all aspects of the Family Settlement Agreement. 14. This agreement may be executed in multiple counterparts, which together shall constitute the original. In Witness Whereof the parties have hereunto affixed their respective signatures and seals as of the day and year first above written. David M. Schindler (SEAL) Donald I. Schindler (SEAT') (a/k/a Stefan Schindler) Rebecca Nurick (SEAL) l~ ~~ / (S ) ynthia Schindler Koppenhaver Daniel L. Schindler, Individually and ash) Executor of the Estate Leota L. Schindler, Deceased. Barbara Schindler Cheryl Schindler SEAL