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Home My WebLink About04-05-11 (2)IN RE: THE ESTATE OF DAVID G. SHPYELY, LATE OF MECHANICSBURG BOROUGH CUMBERLAND COUNTY PENNSYLVANIA O r~.s r^ ~ r+ ~..n ~ 't7 ~~m ~(J1~ '~ 4'1 C ~O~r7 x~ ~~ THE COURT OF COMMOI~;PI~.AS i~~ O ; CUMBERLAND COUNTY, PENNSYLVIA ORPHANS' COURT DIVISION N0.21-10-00537 RECEIPT, RF.i.F.ACE, REFUNDING AND INDEMNITY AGREEMENT CONCERNING DISTRIBUTION FROM ESTATE THIS AGREEMENT, based upon the family circumstances outlined, is entered into with the Co- Executors by each beneficiary, from the date of formalization of her separate Consent: 1. DAVID G. SHIVELY died Testate on May 19, 2010. 2. Decedent's Will, dated September 25, 2008 provided for various bequests, and designated Rebecca L. Bailey and Jeffrey L. Bailey as Co-Executors. 3. Said Will was accepted by the Register of Wills of Cumberland County for probate on May 24, 2010, and steps necessary to complete the administration were undertaken by the Co- Executors. 4. David G. Shively, as Setilor, created a Funded Revocable Trust dated February 1, 2005, which directs, inter alia, that the sum of Fifty Thousand Dollars ($50,000.00) beset aside, the interest of which is to be distributed to Settlor's spouse, Vivian J. Shively. 5. David G. Shively, as SeWor, created a Funded Revocable Trust dated February 1, 2005, which directs, inter alia, that the sum of Foriy-Five Thousand Dollars ($45,000.00), or an amount equal to Twenty Per-Cent (209b) of the net value of the corpus of this Trust, be paid outright to the stepson of Settlor, Harry B. Mensch. 6. The beneficiaries desire that the distribution of the assets of the Estate be made without the formality of an Accounting in the Orphans' Court Division of the Cumberland County, Pennsylvania Court of Common Pleas, and the Co-Executors are willing to make this distribution upon the execution of this Agreement. 7. The beneficiaries desire to forever settle and compromise any and all claims and rights which they may possess, now or hereafter, in the Estate and to confirm their acceptance of the distribution in satisfaction of the bequest contained in the decedent's Last Will and Testament. The beneficiaries wish to release the Co-Executors and to indemnify them against any and all claims that may be asserted against the Estate with the Co-Executors after the date hereof. 9. The Co-Executors are willing to make a distribution of informal settlement of the Estate in consideration of the indemnification and agreements hereinafter provided by the beneficiaries. NOW, THEREFORE, in consideration of the foregoing and intending to be legally bound hereby, jointly and severally, the beneficiaries do, for themselves, their heirs, personal representatives, successors and assigns, agree as follows: A. Represent and warrant that they have read and they understand this Agreement and confirm that the facts set forth above are true and correct, to the best of their knowledge, information and belief. B. Declare that they have sufficient information to make an informed waiver of their right to a formal accounting with the Court, and do hereby waive the filing and auditing of said formal accounting. C. Acknowledge that the distributive share shall be in satisfaction of their respective entitlements under the Will. D. Release, remise, quitclaim and forever discharge the Co-Executors, their heirs, personal representatives, successors and assigns, from and against all claims that they, as residuary beneficiaries of the Estate, had, now have, or may in the future have in connection with the Estate. E. Agree to refund, on demand, all or any part of their proportionate share of any aforesaid distribution, which has been determined by the Co-Executors, or by the Court, or by any court of competent jurisdiction, to have been improperly made. Agree to indemnify and hold harmless the Co-Executors, their heirs, personal representatives, successors and assigns, from and against any and all claims, loss, liability or.damage (whether or not related to the negligence of the Co-Executors that may hereafter be asserted against the Estate or against the Co-Executors. G. Agree to execute such additional documents as may be necessary to effectuate the agreements set forth herein. H. Acknowledge that this Agreement shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. Consent to the Court exercising personal jurisdiction over them in any suit or action arising out of the enforcement of this Agreement. IN WITNESS WHEREOF, the beneficiaries have set their hands and seals to the Consents attached hereto, to be effective as of the date first above written. CONSENT TO RECEIPT, RELEASE RF.F[JNDING AND INDEMNITY AGREEMENT CONCERNING DISTRIBUTION FROM ESTATE The undersigned, Frederick A. Souders, Attorney-in-Fact for VIVIAN J. SHIVELY, a beneficiary of the Last Will and Testament of DAVID G. SHIVELY, Deceased, hereby consents to the Receipt, Release, Refunding and IndemnityAgreement Concerning Distribution From Estate, a copy of which has been provided to him. The undersigned also acknowledges receipt of the beneficiary's share of the Estate, as more particularly described in the aforesaid Agreement, including the Accounting, subject to all the terms and conditions specified therein. VIVIAN J. SHIVELY Br ~~~ t4 S ~~~ Frederick A. Souders Attorney-in-Fact COMMONWEALTH OF PENNSYLVANIA C~ ~~ a SS. COUNTY OF ---~_-_--- _ On this, the ~ t!'___ day of Uri~~ "k _--, 2014, before me, a Notary Public, the undersigned officer, personally appeared Fredenc A. Souders, Attorney-in-Fact for VIVIAN J. SHIVELY, known to me to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purpose therein contained. IN WITNESS WHEREOF, I have hereunto set my hand and Notarial Seal. COMMONWEALTH OF F'ENNSYWANIA t+arw Sw KffsEen M. Ga~Ern, Nobuy Public CaAhN Baro, CumbrWd County CommlNbn EtryMM Fb.11, 201 S , of Nolarks - __ .C~ NO ARY PUBLIC CONSENT TO RECEIPT, RELEASE REFUNDING AND INDEMNITY AGREEMENT CONCERNING DISTRIBUTION FROM ESTATE The undersigned, HARRY B. MENSCH, per Item 4. B. of the Funded Revocable Trust Agreement of Settlor DAVID G. SHIVELY, now Deceased, hereby consents to the Receipt, Release, Refunding and Indemnity Agreement Concerning Distribution From Estate. The undersigned also acknowledges receipt of the amount set forth in the Funded Revocable Trust Agreement. _L HARRY B. SCH STATE OF _ `.~ ~.~~ m ~ COUNTY OF f'`~LC1 [~-CVdX~1 SS. On this, the _~~~ day of ~~ ~ 1),Q_rvr ~OQrC~ , 2010, before me, a Notary Public, the undersigned officer, personally appeared HARRY B. MENSCH, known to me to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purpose therein contained. IN WITNESS WHEREOF, I have hereunto set my hand and Notarial Seal. ~~~~-- O ARY UBLIC . (" J y~ K GYP/FtIyI 1 e `t ~ fe ~ df~~'. '~'1,Q 7.. t. ,, g'b BE~'~l[ s.h.~ i;:;. ~ ~'r:~ tl.~tgAMl1 +f`P,;zt~ FX~. ~•4-2011 ~~~~ ~~. CONSENT TO RECEIPT, RELEASE REFUNDING AND INDEMNITY AGREEMENT CON ERNING DISTRIBUTION FROM ESTATE The undersigned, REBECCA L. BAILEY, a beneficiary of the Last Will and Testament of DAVID G. SHTi~ELY, Deceased, hereby consents to the Receipt, Release, Refunding and Indemnity Agreement Concerning Distribution From Estate, a copy of which has been provided to her. The undersigned also acknowledges receipt of her share of the Estate, as more particulazly described in the aforesaid Agreement, including the Accounting, subject to all the terms and conditions~s ecified there~inQ. , L' /,,L'./ll:Cq /1 REBECCA L. BAILEY COMMONWF.AI~.TH OF PENNSYLVANIA SS. COUNTY OF __ On this, the _ /~~__ day of , 2010, before me, a Notary hblic, the undersigned officer, personally appeazed REBECCA L. BAILEY, known to me to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purpose therein contained. IN WITNESS WHEREOF, I have hereu)~o set my hand and 1)iotari~' Seal. aoMrtot~nuen~ni t~urtsnvaNV- Natarulseal Janet S. Gore, Notary Public 9 Born, York County tNy CannfNlDn Oct. 25, 2014 Member. Perw~Marue AssodafJon d Notaries