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ESTATE OF RICHARD R. GRAY � � � f�T� ����� �
FAMILY SETTLEMENT AGREEMENT � � F,� ,� � �:�,
Cumberland County File No. 21-12-1204 � � ,�.; '�' `�'
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THIS AGREEMENT,made this �r� day of September,2013,betw�`�n�phri R.,�'rray�nd��`�
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Michael J. Gray,Executors of the Estate of Richard R. Gray ("Executors"), �rid John Rr,�ray�n��,� : �
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Michael J. Gray (in their individual capacities) (collectively referred to hereinafter as the
"Beneficiaries").
WITNESSETH:
WHEREAS, Richard R. Gray ("Decedent")died on September 30,2012; and
WHEREAS,pursuant to the Will of the Decedent dated August 23, 1989,a copy of which
is attached hereto and marked Exhibit "A," John R. Gray and Michael J. Gray were appointed
Executors of the Decedent's Estate by the Cumberland County Register of Wills by appropriate
action of the Register of Wills on November 16, 2012, and docketed at No. 21-12-1204; and
WHEREAS, the Executors have truly and appropriately administered the Estate of the
Decedent; and
WHEREAS,the Executors have filed the appropriate Pennsylvania lnheritance Tax Return
for the Estate and the Return has been audited with a determination being issued by the Pennsylvania
Department of Revenue accepting the Return as filed; and
WHEREAS,the Executors will timely file the appropriate Pennsylvania and Federal Income
Tax Returns for the Estate; and
WHEREAS,the Executors have accomplished the payment of all obligations owing on the
Decedent's Estate,except for attorneys fees for which funds have been reserved; and
WHEREAS, the Executors provided the opportunity to a11 Beneficiaries to examine all
records of the Decedent in the possession of the Executors and to examine all records of the Esta.te;
and
WHEREAS,the Executors have made partial distributions to the Beneficiaries; and
WHEREAS,the Executors are prepared to achieve the final distribution of the Decedent's
Estate subject to the reserve as set forth below; and
WHEREAS,the Executors and a11 Beneficiaries desire that the administration of the Estate
of the Decedent be terminated without the expense and delay of a court accounting and the Parties
are willing to enter into this Estate Settlement Agreement in order to expedite the conclusion of the
Estate; and
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WHEREAS,the Executors desire to make a distribution to the Beneficiaries,pay attorney's
fees owing, retain certain funds in order to finalize any tax returns and any other miscellaneous
obligations that may accrue,with any retained funds to be distributed to the Beneficiaries at a later
date.
NOW,THEREFORE,the parties in consideration of their mutual covenants herein expressed
and intending to be legally bound hereby,agree as follows: ,
l.
The above-named Beneficiaries hereby waive the filing of a Formal Accounting and
Schedule of Distribution in the Estate of the Decedent.
2.
The parties acknowledge that they have been provided with an opportunity to examine all
paperwork and accounting of all expenses and revenues from the Estate of the Decedent.
3.
The parties acknowledge that should any liability come due to the Estate of the said
Decedent after the signing of this Agreement, they hereby covenant and agree that they will
contn�bute pro rata their share of the Estate to satisfy any and all claims, demands, suits,or causes
of action which may be successfully prosecuted against the said Estate or the aforesaid Executrix
after the signing, sealing and delivery of this Estate Settlement Agreement.
4.
The parties agree that the sum of FIVE THOUSAND ONE HLJNDRED DOLLARS and
33/100 ($5,100.33) remains in the Estate account to be distributed subject to the payment of
remaining bills. The sum of SEVEN HLJNDRED FIFTY DOLLARS and 00/100 ($750.00) shall
be disbursed to Martson Law Offices as payment for legal fees owing at this time,and the additional
sum of FIVE HtJNDRED DOLLARS and 00/100 ($500.00)to be paid to Martson Law Offices to
cover fees in connection with estate income tax preparation necessary in order to conclude the
Estate. The parties agree that the remaining THREE THOUSAND EIGHT HLTNDRED FIFTY
DOLLARS and 33/100 ($3,850.33) shall be split equally between the parties, and said payments
shall conclude the distribution of the Estate assets,except for the obligations otherwise set forth in
this Agreement.
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5.
The parties hereby forever release, compromise, settle and discharge any and all claims,
demands,actions or causes of actions,legal or equitable,absolute or contingent which any of them
may have against any other party hereto or against the Estate of Richard R. Gray or its Executors,
John R.Gray and Michael J.Gray,by reason of any matter or thing growing out of or relating to any
property or assets of said Estate, or growing out of or relating to any act of the Executor in the
administration of the Estate. This Release shall release the Executors from all liabilities,whether
due to his negligence or otherwise, which they may have by reason of their administration of the
Esta.te. This Release,however, shall not release the Executors from any claims relating to fraud or
claims relating to any willful action of the Executors in failing to disclose or account for assets of
the Estate which the Executors may have received. Furthermore,this Release shall not be binding
until signing of this Agreement by the Executors and all named Beneficiaries.
6.
Each party acknowledges that he may present this Agreement to their own private attorney
for legal advice if such parties desire such individual legal advice.
7.
The parties agree that this Agreement shall be binding upon themselves, their successors,
assigns and personal representatives.
IN WITNESS WHEREOF,the parties have hereunto set their hands and seals the day an�i�
year first above written.
WITNESS: ESTATE OF RICHARD R. GRAY
�
_ . Gray, Executor
Michael J. y, xec or
WITNESS: BE EFIC RIES:
V
. Gray
%�'(
,
Michael J. G
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LAST �iILL AND TESTAMENT OF RICBARD R. GBAY
I, RICHARD �. GRAY, of the Borough of Mechanicsburg, County of
Cumberland and State of Pennsylvania, being of sound and disposing mind,
memory and underatanding, do make, publish and declare this my Last Will
and Testament, hereby revoking and making void any and all former Wills
by me at any time heretofore made.
� 1.
I direct the payment of all my just debts and funeral expenses
as soon after my decease as the same can be conveniently done.
2.
I give, devise and bequeath all the rest, residue and remainder
of my estate, real, personal and mixed, of whatsoever nature and whereso-
ever the same may be situate, to my wife, MARY L. GBAY, absolutely and
unconditionally.
3.
In the event that my said wife, MABY L. GRAY, should prede-
cease me, or should she die at about the same time as I do, such as in
an accident common to both of us, then in su�h event, I give, devise
and bequeath my entire estate, real, personal and mixed, whatsoever
and wheresoever situate, to my two sons, to wit, JO� R. GRAY and
_1_ Exhibit "A"
,
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MICBAEL J. GRAY, share and share alike, per stirpes.
A. I nominate, conatitute and appoint THE FIBST B�Ai�i� AND
TBIIST CO�F'Al'�Y OF M�CHA�ICSBIIR�G, PA. to be the Guardian and Trustee
of the estate of any minor issue and/or beneficiaries of a de-
ceased child of mine who shall share in my eatate hereunder,
for and during the term of their minority, to wit, until such
time as they attain the age of twenty-one (21) years, with the
right and authority in said Trustee, at ita sole discretion, to
apply the principal as well as the income of each such minor's
respective estate to insure their comfortable care, support and
education, with particular emphasis to the application of said
funds to their college education or other technical or profea-
sional training after they graduate froat High School, without
the necesaity on iCs part of first securing a Decree or Order
of Court before doing so.
4.
LA.STI.Y, I nominate, constitute and appoint my wife, 1KABY L.
G�AY, to be the Executrix of this, my Last Will and Testament, and in
the event she should predecease me, or should she be unable or unwill-
ing to serve in such capacity for any reason, then I nominate, consti-
tute and appoint my two sons, J0� R. GRAY and 1�IC8AEL J. GBAY, to be
Co-Executors of this, my Last Will and Testament, in her place and
stead.
II� WITNESS iiHEREOF, I have hereunto set my hand and seal this
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•�•3 day of August, A. D. 1989.
,
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�-' • Richard R. Gray
Signed, sealed, published and declared by the above-named
RICBABD R. GBAY, as and for his Last Will and Teatament, in the
presence of us, who, at his request and in his presence, and in the
presence of each other, have hereunto subscribed our namea as wit-
nessea.
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CO'[�IONWEALTH OF PENNSYLVANIA )
: SS.
COUIVTY OF CUMBERLAND )
I, _ xICHASD 8. GBAY , tha taetat or __
whos• nam� is Signed to the attached or foregoing inetrum.nt, having
basn duly qualified according to law, do hereby acknowledg• that I
aigned and executed ths instrument as my Last Will and Testamant;
that I signed it willingly; and tbat I signed it as my fres and volun-
tary act and daed, for the purpoeea therein contained.
Sworn and af f inaad to and acknowl�dged bsf or• m� by
xICBABD A. GBA? , th• tsatam_, thi• 23rd
dsy o� _ Auguat . A. D. 1989.
IN111R1�t �.�K.
WIRr S. RNINSM�. «�!�R� vWllC�
COIrIIriONWEALTH OF PENNSYLVANIA ) ��_� �' ���� �'
$$. Ny CwwlssiM [���rfs St*� 21. 19l1
:
' COtTNTY OF CUMBERLAND )
We, the undereigned, J. 8,088�T STSQFFI�
and _,�ILyl� �A? BALII� , th• witnesaea whos• namee are
, signed to tht attach�d or foregoing instrument. b�in� duly qualified
according to law, depo�• and say that wt w4r• present and saw tbs
testat o�_, 8I B , sign and exe-
cuCe ths iaatrumsnt ae his Last Will and Testamsnt; that th�
said testat or , gICIIABD g, G�? , executed it as
his/baea�t f rea and voluntary act f or tha purposes tharain expraesed;
that each of us� in th� heering and sighc of the testa��_, signed
ths Will ae witneases; and that to the best of our knowledge, ths
tastato� wae, at tha time, aighteen (18) or more years of age,
of sound mind, and undsr no conetraint, durees or uadua inf luence.
�
Swotn and subacribed to before
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me t�tis 23rd day of
August , 1989.
N(llA�tl�l SEA4
�ARY S. Ms1�:1N� N�t�Rr rtl�lIC
� l�CMANiCSiv�. NkO. CUMI�ERIl1N0 00.
� s- C�w�ssi�n Ex�trn Se�t. 21. 19li