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Home My WebLink About06-22-15 � -� ESTATE OF THOMAS A. HOSIE, JR. No. 21-13-359 SETTLEMENT AGREEMENT THIS AGREEMENT, made this � day of � a t'�e , ��, between John C. Oszustowicz, Executor of the Estate of Thomas A. Hosie, Jr., ("Executor"), and Marcia Heckert, an adult individual, Fern Gardner, an adult individual, Marilyn Rhodes, an adult individual (incorrectly named in Will as Dolores Rhodes), Seamus Hennessey, an adult individual, Mount Saint Mary's University, TT Dunnmyre, an adult individual, and Todd Seltzer, an adult individual (incorrectly named in Will as Todd Schultz) (collectively referred to hereinafter as the "Beneficiaries"). WITNESSETH: WHEREAS, Thomas A. Hosie, Jr., ("Decedent") died on March 16, 2013; and WHEREAS, pursuant to the Will of the Decedent dated March 1, 2013, a copy of which is attached hereto and marked Exhibit "A", John Oszustowicz was appointed Executor of the Decedent's Estate by the Cumberland County Register of Wills by appropriate action of the Register of Wills on March 28, 2013, and docketed at No. 21-13-359; and WHEREAS, the Executor has truly and appropriately administered the Estate of the Decedent; and WHEREAS, the Executor has 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, tile Exec�ator will timely file the appropriate Pennsylvania and Federal Income Tax Returns for the Estate; and WHEREAS, the Executor has accomplished the payment of all obligations owing on the Decedent's Estate, except for any final income taxes and attorney's fees for which funds have been reserved; and WHEREAS, the Executor provided the opportunity to all Beneficiaries to examine all records of the Decedent in the possession of the Executor and to examine all,records of the �_: � c.� � ,_yJ � Estate; and `- ca �_ ';'�; c� _ . . .,,., ., ,-, ,__. - ;-= _ .. . .�.� -,-�' `.s �.., �'.3 -1- T f\� � i,; ; ;. N -' �� 1,' _ ;.� ' r,'� ' E�� .\�' � � 4.� �� \Y , c� ;-� �.��_�,,.�� WHEREAS, the Executor has made various partial distributions to the Beneficiaries; and WHEREAS, the Executor is prepared to achieve the final distribution of the Decedent's Estate subject to the reserve as set forth below; and WHEREAS, the Executor and all Beneficiaries desire that the administration of the Estate of the Decedent be terminated without the expense and delay af a court accounting and the Parties are willing to enter into this Family Settlement Agreement in order to expedite the conclusion of the Estate; and WHEREAS, the Executor desires 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: 1. 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 and agree that Marilyn Rhodes of Harrisburg, Pennsylvania, is the correctly named beneficiary and that it was a clerical error in the said Will when naming Dolores Rhodes. 3. The parties acknowledge and agree that Todd Seltzer of Lemoyne, Pennsylvania, is the correctly named beneticiary and that it was a clerical error in the said Will when naming Todd Schultz. 4. 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. 5. 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 with the other -2- heirs and with the aforesaid Executor that they will contribute 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 Executor after the signing, sealing and delivery of this Estate Settlement Agreement. 6. The parties agree that the Executor may distribute the remaining assets of the Estate equally between Marcia Heckert, Fern Gardner, Marilyn Rhodes (incorrectly named in Will as Dolores Rhodes), Seamus Hennessey, Mount Saint Mary's University, TT Dunnmyre and Todd Seltzer (incorrectly named in the Will as Todd Schultz) subject to any retention of funds which the Executor feels is appropriate in order to pay any taxes or contingent bills. In the event any funds are retained and after payment of any bills, the Executor will split equally the balance remaining between Marcia Heckert, Fern Gardner, Marilyn Rhodes (incorrectly named in Will as Dolores Rhodes), Seamus Hennessey, Mount Saint Mary's University, TT Dunnmyre and Todd Seltzer (incorrectly named in the Will as Todd Schultz) without any further action required by the parties. The parties further acknowledge and agree that certain funds have been designated to the benefit of Lonnie Maxwell under Item 7 of the Will, and that the Executor may or may not invest those monies. The Executor is permitted to use that money as permitted under Item 7 of the Will without any obligation to the parties hereto, including an obligation to preserve or invest. If any monies remain available upon the death of Lonnie Maxwell, the parties agree to accept their proportional share as distributed by the Executor without the need for a formal accounting. 7. 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 Thomas A. Hosie, Jr., or its Executor, John C. Oszustowicz, 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 Executor from all liabilities, whether due to his negligence or otherwise, which they may have by reason of their -3- administration of the Estate. This Release, however, shall not release the Executor from any claims relating to fraud or claims relating to any willful action of the Executor in failing to disclose or account for assets of the Estate which the Executor may have received. Furthermore, this Release shall not be binding until signing of this Agreement by the Executor and all named Beneficiaries. 8. Each party acknowledges that he/she may present this Agreement to their own private attorney for legal advice if such parties desire such individual legal advice. 9. The parties agree that this Agreement shall be binding upon themselves, their successors, assigns and personal representatives. This Agreement may be signed in any number of counterparts. 10. This Agreement may be signed in any number of counterparts. Provided this Agreement is executed by the Executor, any individual signing hereto will be bound to the Agreement, whether the same is executed by any other party or not. [Signature lines on next page] -4- �; , - IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITNESS: ESTAT OF THOMAS A. HOSIE, JR. # ;,� ��,.,.i � John . Oszust wicz, Executor WITNESS: BENEFICIARIES: �� .� .J ��l G�',f,r- /��,...eg-� Marcia Heckert Fern Gardner Marilyn Rhodes Seamus Hennessey Todd Seltzer TT Dunnmyre Mount Saint Mary's University By: Name: Title: ESTATE OF THOMAS A.HOSIE,JR. No.21-13-359 Settlement Agreement Signature Page -5- � ., , �� IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITNESS: ESTAT F THOMAS A. HOSIE, JR. <:_. ,�� John C. O zustowicz, Executor WITNESS: BENEFICIARIES: Marcia Heckert , �� _ ,�Qn.�,°.,�� sLr�s^ �,�, � Fern Gardner Marilyn Rhodes Seamus Hennessey Todd Seltzer TT Dunnmyre Mount Saint Mary's University By: Name: Title: ESTATE OF THOMAS A.HOSIE,JR. No.21-13-359 Settlement Agreement Signature Page -5- IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and yeaz first above written. WITNESS: ESTATE THOMAS A. HOSIE, JR. , �,�.. i�" John C. zustowicz, Executor WITNESS: BENEFICIARIES: Marcia Heckert Fern Gardner � �� .��2 �:�� .. �,�,r,�;, �,�,G��n'L.s :�,,, ? z 2 Marilyn odes ,.. ''� � Seamus nnessey Todd Seltzer TT Dunnmyre Mount Saint Mary's University �3y:_ Name: Title: ESTATE OF THOMAS A.HOSIE,JR. No.21-13-359 Settlement Agreement Signature Page -5- � .� � IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and yeaz first above written. WITNESS: ESTATE OF THOMAS A. HOSIE, JR. � � � � � John C. Oszu` or�vicz, Executor �� WITNESS: BENEFICIARIES: Marcia Heckert Fern Gardner � � Marilyn Rhodes i n � �.k.�-. - 1 Seamus Hennessey Todd Seltzer TT Dunnmyre Mount Saint Mary's University By: Name: Title: ESTATE OF THOMAS A.HOSIE,JR. No.21-13-359 Settlement Agreement Signature Page -5- IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITNESS: ESTATE THOMAS A. HOSIE, JR. ��, ,, John C. Osz towicz, Executor WITNESS: BENEFICIARIES: Marcia Heckert Fern Gardner Marilyn Rhodes Seamus Hennessey �..� �� Todd Seltzer TT Dunnmyre Mount Saint Mary's University By:_ Name: Title: ESTATE OF THOMAS A. HOSIE,JR. No.21-13-359 Settlement Agreement Signature Page -5- IN WITNESS WHEREOF, the parties have hereunto set their hands and seals the day and year first above written. WITTJE ; ESTAT F THOMAS A. HOSIE, JR. (,�`��r;r��, ^�.,_ John C. szustowicz, Executor WIT'NESS: BENEFICIARIES: Marcia Heckert Fern Gardner Marilyn Rhodes Seamus Hennessey Todd Seltzer / �� ' � � `i!� � � C��l .�� .� .�./y'/�7 Dunnmyre Mount Saint Mary's University By: . Name: Title: ESTATE OF THOMAS A.HOSIE,JR. No.21-13-359 Settlement Agreement Signature Page -5- IN WITNESS WHEREOF, the parties have hereunto set the�r hands and seals the day and year first above written. WITNESS: ESTATE THOMAS A. HOSIE, JR. e,_. ,i'� 4� John C. Os stowicz, Executor WITNESS: BENEFICIARIES: Marcia Heckert Fern Gardner Marilyn Rhodes Seamus Hennessey Todd Seltzer TT Dunnmyre Mount Saint Mary's University ��°cr� �� y: �_�:� Name: C��'��,(j�' � • �(�C(1 d1Qn Title: V i�--�. �"��►��°5�l�C�'��?JfUfI�V�(S��'y ��tnC�eWl�nf ESTATE OF THOMAS A.HOSIE,JR. No.21-13-359 Settlement Agreement Signature Page -5- F:IFILFS\Climu\IS299 Hoaie�15299.4.EA Tsz Iswe115299.4.rdca�e,a�rcimt.order.p'Pd ESTATE OF THOMAS A. HOSIE, JR. CUMBERLAND COUNTY FILE NO. 21-13-359 RELEAS KNOW ALL MEN BY THESE PRESENTS that the undersigned,one of the legatees under the Last Will and Testament of Thomas A. Hosie,Jr., late of Cumberland County,Pennsylvania, deceased,do hereby acknowledge re�eipt of the Irish art and collectibtes from John C.Oszustowicz, Executor,or the fair market value if directed to be sald by said Execuior,in full satisfaction of the specific bequest under the terms of Item 6 of said Last Will and Testament. AND,THEREFORE,I,the undersigned,do by these presents remise,release,quit-claim,and forever discharge the said Executor aforesaid, his successors and assigns, heirs, executors, administrators and attorneys,of and from the aforesaid specific bequest,and of and from all actions, suits, paymeats, accounts, reckonings, claims and demands whatever, from the beginning of the world to the day of the date of these presents. AND,THEREFORE,I,the undersigned,do by these presents remise,release,quit-claim,and forever dischazge the said Executor aforesaid, his successors and assigns, heirs, executors, administratars and attorneys, of and from the aforesaid specific bequests, and I do further hereby covenant and agree that should any liability come due to the estate of the said decedent after the signing of this Release,which liability causes an insolvency in such estate,I do hereby covenant and agree with the other heirs and with the aforesaid Executor that I will contribute my pro rata share of such liabilities of the estate causing such insolvency, as limited by the value of the items distributed to me as aforesaid, to satisfy such claims, demands, suits, or causes of action which may be successfully prosecuted against the said estate or the aforesaid Executor after the signing,sealing and delivery of this Release. AND I hereby consent and agree that the Orphans' Court of Cumberland County may discharge the said Executor upon application,without further notice to me. IN WITNESS WHEREOF, I have hereunto set my hand and seal this �+h day of N'�v e,,,,, b� ,r ,2014. Witness: ANCIENT ORDER OF HIBERNIANS OF CUMBERLAND COUNTY By. '��.."..,,_�,,.n �, v.ti� �l�'�u�Pa e c�y�i-�o � Print Name: `�t''�r, a�,. � • <�-, K>.,,� Print Title: �' ;� ., ,��e.-� C .,,,b�� 4��I��t•n fijr Fr�,;�`,e�'� G r��r o � 1��. �j�r.��, 2�n5 �nrm.ir�rmr s . , E.x��b��- a � � d � LAST WILL AND TI�STAMENT � OF THOMAS A. F�JSIE I, THOMAS A. HOSIE, of Cumberland (>�unty, Pennsylvania, do make, publish and declare this as and for my Last Will and TE�stament, hereby expressly revoking all wills and codicils made by me heretofore, and dis�aose of my estate as follows: ITEM 1: I direct the payment of my just c�ebts and funeral expenses, including a suitable and proper grave marker, as soon as conveniently can be done following my decease. ITEM 2: I direct that all State and Fede�r��l Transfer Inheritance Tax, Estate Tax, Succession Tax or any other tax, including :��y interest, assessments or penalties thereon, that may become due and payable b�� virtue of my death, or by virtue of the ;c passing of any property either under my Last Will and Testament, or in any other manner, shall be paid from my residuary estate, just as� if such taxes were my debts, and no beneficiary shall be required to pay or refund any��art thereof. ITEM 3: I give a life estate for his lifetime in my residence and ownership of all personal household property located at 387 �,�Valton St., Lemoyne, PA to LONNIE MAXWELL. Upon the death of LONNIE MA;�:VVELL, I give the house to MARCIA HECKERT. ITEM 4: I give, devise and bequeath ��y automobile to LONNIE MAXWELL. Any loans against such property shall be paid fr: m the residuary of my estate. ITEM 5: I give, devise and bequeath any.�r�terest I have in tracts of ground on Hill Street, Mt. Holly Springs, PA identified as F`,:rcel No. 23-12-0340-003 to MARCIA � HECKERT. � ITEM 6: I give, devise, and bequeath al; of my Irish art and Collectibles to the Ancient Order of Hibernians of Cumber�and Cou��7ty. ITEM 7: I give $100,000 to be held in T��:ast by JOHN C. OSZUSTOWICZ. This Trust shall be managed and the funds utilizeci as needed to pay taxes, insurance, television/cable/internet, and utility expenses cj!� my property and $200 per month to LONNIE MAXWELL for his lifetime. Upon the c�eath of LONNIE MAXWELL, this Trust shall terminate and the remaining assets distri�.�uted according to ITEM 8 below or to the survivors of them. ITEM 8: All the rest, residue and remai��er of my estate of whatsoever nature and wheresoever situate, I give, devise as follovra: 18.5% to MARCIA HECKERT of Mt. Holly�Springs, PA 18.5% to FERN GARDNER of Mt. Holly 4?rings, PA 18.5% to DOLORES RHODES of Harrisb�_irg, PA 18.5% to SEAMUS HENNESSEY of Cherry Hill, NJ 18.5% to MOUNT SAINT MARY'S UNIVF-'RSITY Scholarship fund 5% to TT DUNNMYRE of Harrisburg, �'A 2.5% to TODD SCHULTZ of Camp Hill, �'A ITEM 9: In the administration of my est�te my Executor shall have the following powers without leave of court in addition to, but -�ot in limitation of, the powers granted by law to the Executors of estates, which powers :�'�all continue after the termination of my �� estate until actual distribution of the assets: 2 , i A. To receive in the estate and to retair any assets, real or personal, to which I may be entitled at the time of my death, whicf; my Executor may deem for the best , interest of the estate without being required to r_�nvert said assets into so-called "legal investments". B. To invest and reinvest in such securit�es as a prudent investor of intelligence and discretion would buy for himself for investmant, and not for speculation, giving due regard to the safety of the principal and the ade��uacy of the income, and without being limited to the so-called "legal investments" of th� Commonwealth of Pennsylvania, said investment authority to include the right to inves{: in any Discretionary or Legal Common Trust Fund that may be administered and rT�:anaged by a Corporate Executor or Corporate Trustee. C. To sell or buy real estate without Coui�:.;order at public or private sale; to make, execute and deliver or receive good and suffic:ant deeds of conveyance and give or receive good title therefor; to reinvest the proce�:�s as if they had originated in personal property; to mortgage or encumber any real ,��state comprising part of my estate, borrowing the necessary funds from himself or �rom any other source; to improve any property or otherwise expend principal fund:;. for the upkeep and welfare of any properties; to release, vacate and abandon the :;�me; to grant and acquire licenses and easements with respect thereto; to make impr,�vements to or upon the same; and in general to do all things necessary in the manac�ment of the properties as if he is the owner thereof, including the right to let property �nd to make leases for any term. The purchaser shall not be required to see to the prc��.�er application of proceeds but may pay the same over to the Executor selling the same. ., . 3 D. To make distribution hereunder in ca�:yi or of property and securities in kind at fair market value at the time of such distributic�-i and in such a manner as to be fair, equitable and just to all concerned. Distribut cns of property and securities are not required to be identical among the beneficiariF:�,, and some may receive one type of property or security while another may receive ar��ther type of property or security. E. To exercise any election or privilege c;iven by the federal and other tax laws, including but not limited to, the election of the al;:�rnate valuation date for federal estate tax purposes, the election to claim deductior;� for federal estate tax or for federal income tax purposes, and the election of the rnethod of payment of pension, profit- sharing, HR-10, individual retirement accoun`, and any other similar benefits. In addition, my Executor, in his sole discretio:�, may make or not make equitable adjustment among the beneficiaries, without tf;�� consent of the beneficiaries, for the exercise or non-exercise of any election or privil�*_�es. ITEM 10: I nominate, constitute and aK�_�oint JOHN C. OSZUSTOWICZ, to be Executor of this, my Last Will and Testament. If;JOHN C. OSZUSTOWICZ is unable or unwilling to serve or continue to serve as Exec�.K.or, I appoint MARCIA HECKERT to be Executrix of this, my Last Will and Testament.,_. No Executor shall be required to give bond. ITEM 11: Wherever the context require�., the masculine gender shall include the � , 4 feminine gender and neuter gender, and vice ��rsa, and the singular shall include the plural, and vice versa. IN WITNESS WHEREOF, I have hereun':� set my hand and seal this �day of i�%��'�Y'�t`�� , 2013. _ -- ; �.�..-,� .��-_ � �� ,-v�v �; THOMAS A. HOSIE Signed, sealed, published, acknowledgr:cl and declared by the above-named Testator, THOMAS A. HOSIE, as and for his Las'� Will and Testament, in the presence of us, who, at his request, in his presence and in th<� presence of each other, have hereunto subscribed our names as witnesses thereto. , . _ Of � .� � . - �� ,� .;�%-- :' � , ��: � t � , .�'_ j 4 't ��"'�,��'�.�:u`,(��-�� Of _1�'"�C:�'Y;��--1 �i'>f`�,;1�'� , i�-1' �=� ` , J i 5 COMMONWEALTH OF PENNSYLVANIA j ; SS: COUNTY OF CUMBERLAND ; I, THOMAS A. HOSIE, Testator, who sign�.;�� the foregoing instrument, having been duly qualified according to law, acknowledge that � signed and executed the instrument as my free and voluntary act for the purposes therei�? contained. .l-Y��-��r1��-� ,'f:��_,_.- ��NOMAS A. HOSIE Sworn to or affirmed and acknowledged before me by THOMAS A. HOSIE, the Testator, this L day Of �i�`(;�4 Jl_..�`\ , ZO'I3. COMMONWEALTFi OF PE4VNSYLVANTA Notarlal Seai� � �� Kimberly R.leo,Notary Public �f�� Carlisle Boro,Cumberland County Notary Public My Commission Expires Oct. 10,Zoi3 COMMONWEALTH OF PENNSYLVANIA } '� SS: COUNTY OF CUMBERLAND �► We, the undersigned witnesses who sigri�:d the foregoing instrument, being duly qualified according to law, depose and say that,;,;�e were present and saw Testator sign and execute the instrument as his Last Will and -,�estament; that he signed and executed it willingly as his free and voluntary act for the K�!�rposes therein expressed; that each of us in his sight and hearing signed the Will as wit:nsses; that Testator is known to each of us; and that to the best of our knowledge and �r',�servation the Testator was at the time eighteen (18) years of age or older, of sound r�iind and under no constraint or undue influence. � -._ 4 �I �'��-�.% 1 i I 1t_ � F?-... � �� V��v1� < �i:��! `.. ... �' � . Sworn to or affirmed and subscribed to before me by �.�uV'lr'� '. (��Z�%SfL6ti'�CZ and�t� �c% �t('_r'C� �c,1� witnesses, this � day of �1C��►��h , 2013. � �� Notary Public COMMONWEA�TH OF P�NNSYLVANII� � �.___�_�_ , � Notar�al Seal I K�mberly R.Leo,Nota.ry?�OIiC i 6 i Garlisla 8tiro,Cumoerland County j j My uommission Expires Oct.10,2013 � - �- ;.�.