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HomeMy WebLinkAbout09-08-05i -C`S - c7(;~5-- FAMILY SETTLEMENT AGREEMENT KNOW ALL MEN BY THESE PRESENTS that DUANE D. BAUER died January 6, 2005 with a Will dated December 12, 2003. MARGUERITE BAUER CHRISTY and DAVID DUANE BAUER were appointed Executors on January 14, 2005 in the Office of the Register of Wills of New Cumberland County, Pennsylvania under File No. 21-OS-0035. WHEREAS, the Will of DAUNE D. BAUER states: ITEM II. I give devise and bequeath to LOIS V. BAUER, my wife, my automobile, all household furnishings and appliances and a life estate in my house situate and known as 1202 Allen Street, New Cumberland, Pennsylvania, b~ any replacement thereof with Lois V. Bauer to pay all property taxes, reasonable fire, storm and liability insurance on the premises and minor :. maintenance and repairs. ~;• ITEMII (A): Pay out of income and and/or corpus the sum of $9, 000.00 in advance annually to Lois Bauer, my wife during her lifetime- written on to document) commencing on the date of my death. WHEREAS, by this Agreement, LOIS V. BAUER, beneficiary and spouse of the decedent and MARGUERITE BAUER CHRISTY and DAVID DUANE BAUER, Executors and beneficiaries in the above-mentioned decedent' Will, do acknowledge that we desire that the estate be distributed without the formality of a court accounting. WHEREAS, the parties intending to be legally bound: Agree that LOIS V. BAUER disclaims any rights to the life estate of the said real estate property as set forth in ITEM II for the sum of Thirty siz thousand ($36,000.00) Dollars and agrees to sign a separate agreement disclaiming her life estate. 2. Agree that LOIS V. BAUER relinquishes all responsibility for the payment of a112005 real estate taxes. Furthermore, all reasonable fire, storm and liability insurance on the premises will be paid by the said Estate after the signing of this agreement or when the new ~` MAR-28-2005 04:37 PM KEEN KEEN & GDOD 6104669633 r.bs will be paid by the said Estate after the signing of this agreement or when the new premium is due on said property. LOIS V. BAUER will send any tax billls and insurance information now in her possession to Executors of the Estate. .I. Agree that LOIS V. BAUER is to receive the automobile (1997 Mercury) and the household furnishings and appliances on Exhibit "A". 5ald title to the car will be transferred to LOTS V. BAUER and she will receive all items set forth in the attached Schedule A. It is agreed that ail personal property left at the home will be the responsibility of the Estate to distribute in kind or discard and LO1S V. BAUER does relinquish all rights to said personal property after the moving date(within 30 days) agreed to by the parties. LOIS V, BAUER to personally vacate said premises within said 30 days. ~. Agree that LOIS V, BAUER receive a payment of $9,000.00 for the year 2005 as full and final payment under the terms of the Trust as mentioned in ITEM II (A) of this the Will and she relinquishes all rights to any future payments of $9,000.00. S. Agree that LOTS V. BAUER relinquishes the diamond ring valued at $23,000.00 to the Estate. 6. Agree that LOIS V. BAUER, spouse of the decedent has been fully informed of her right to take against the Will and based on the representation of the value of the Estate through a letter dated February 21, 2005 from Robert E. Myers, Esquire does hereby irrevocably waive the Election to take against the Will. 7. Agree this Family Settlement Agreement is binding on the parties, heirs successors and assigns and is not effected by the death or disability of any of the parties and the check for the sum of Forty five thousand ($45,000.00) will be paid to said LOIS V. BAUER, her personal representative, heirs or assigns as follows: a. One half or Twenty two thousand five hundred ($22, 500.00) Dollars at the time of the signing of the agreement. b. One half or Twenty two thousand five hundred ($22,500.00) Dollars at the time the home is vacated including items set forth in Schedule A of this agreement. It is understood that Lois V. Bauer and all items will be moved within thirty days of the signing of this agreement. c. It is understood that Robert Myers, Esquire will hold the second payment until final payment is made to LOIS V. BAUER. WHEREAS, LOIS V. BAUER does hereby forever remise, release, quitclaim and forever discharge MARGUERITE BAUER CHRISTY and DAVID DUANE BAUER as Executors and the ESTATE OF DUANE D. BAUER, with respect to any and all actions, suits, payments, accounts, reckonings, claims and demands whatsoever for or by release of their administration of the ESTATE OF DUANE D. BAUER IN WITNESS WHEREOF, we have hereunto set our hands and seals this 8th day of April, 2005. ~.. ~ ~-a~ 'L~ ~~ G~~,.~.a- (SEAL) Lois Y. Bauer (Signatures of the Executors, MARGUERITE CHRISTY and DAVID BAITER} continued on next page) 3 MAR-28-2005 04:38 FM KEEN KEEN & GOOD 610466'j655 r_n~ (~~?7,c~~c ~~'~,t~`~~ J~LG.'~(1rrLtGL ~,C.l~ ' `'"'.r[.r'~t" ~ ( EA ~' Margu it auer Christy individually and as Ex c tvr f the Esta of Duane D. Bauer ~~~ (SEAL) David Duane Sauer, individually and as Executor of the Estate of Duane D. Bauer MAR-28-2005 04:38 PM KEEN KEEN & GOOD 61 b4bb'jbBS rv~o Schedule A 1. Computer and computer table 2. TV , DVD and VHS player in family room 3. Bedroom furniture belonging to Lois in storage 4. Bose radio S. Baker's rack in kitchen 6. Lais's personal effects including jewelry, clothing, coat and shoes and items Duane and Lois bought together while married e.g. gifts to each other, personal papers excluding Duanc's personal papers, personal photographs 7. Thomas Kincaid pictures 8. Porch Swing 5 ~"y ~L