HomeMy WebLinkAbout95-04132
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(I IN THE COURT OF COMMON PLEAS (I
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(II OF CUMBERLAND COUNTY 8
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:' STATE OF ~ PENNA. :
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(I CIlIUSTINA LOY, (I
: Plaintiff l\ o. 95 ~41"a2........ 1<) 95 :
(I \". I'SII , (I
(I GARY E. LOY, (I
(I Defendant (I
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(I DECREE IN (I
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! AND NOW, ~ ~~ . \)~" , , " '1" 19O,C it is ordered and (I
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'" decreed that ,.."".,.", ChrIstinaI,.oy . , . ' , , . , ' . , , , , . . . . . , . . '. plaintiff, (I
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Gary E. Loy 'lI'
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(I are divorced from the bonds of matrimony, '"
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(I The court retains jurisdiction of the following claims which have :
(I been raised of record in this action for which a tinal order has not yet (I
(I been entered; All claims sellled, (I
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PROPERTY SETTLEMENT AGREEMENT
THIS AGREEMENT, made thl~m~day of , 1995, by and
between GARY E. LOY, hereinafter called "Husband", and CHRISTINA LOY,
hereinafter called "Wife".
WITNESSETH:
WHEREAS, Husband and Wife were legally married on April 25, 1987;
WHEREAS, differences have arisen between Husband and Wife In consequence
of which they desire to live separ8te and apart from each other; and
WHEREAS, Husband and Wife desire to settle dnd determine their rights and
obligations,
NOW THEREFORE, In consideration of the premises and covenants contained
herein, It Is agreed by and between the parties hereto that:
1, SEPARATION,
It shall be lawful for each party at all times hereafter to live separate and apart
from each other at such place as he or she from time to time shall choose or deem fit.
The foregoing provision shall not be taken as an admission on the part of either party
of the lawfulness or unlawfulness of the causes leading to their living apart.
2, INTERFERENCES,
Each party shall be free from interference, authority and control by the other,
as fully as If he or she were single and unmarried, except as may be necessary to
carry out the provisions of this Agreement, Neither party shall molest or attempt to
endeavor to molest the other, or In any way harass or malign the other, nor In an~'
other way Interfere with the peaceful existence, separate and apart from the other.
3, DIVISION OF REAL PROPERTY,
Husband agrees to transfer all his right, title and Interest In and to the real
estate situated at 210 Chestnut Grove Road, Dillsburg, York County, Pennsylvania,
now titled In the name of Husband and Wife to Wife Individually and agrees to
execute now or In the future any deed or other documents necessary to effect
transfer of title, Husband further agrees that he will assist Wife In securing a
refinancing of the said property In her name only, Said cooperation shall Include, but
not be limited to, the execution of a Spousal Waiver form as required by the lender,
Wife agrees that she shall pay to Husband in the form of equitable distribution
the sum of $38,375,02. This figure was orrived at by taking the appraised value of
the marital home as determined by the appraisal through First United Mortgage
Services Corporation ($135,600.00) and deducting from that figure the mortgage
balance at date of the refinancing settlement ($49,357.96) as well as deducting seven
(7%) percent of the appraised value ($9,492,00) thereby leaving a net equity of
$76,750.04 with Husband's one-half (112) equity being $38,375.02 as
aforementioned, At the time of final settlement, Husband shall pay to Wife from the
aforementioned equitable distribution payment he is to receive, one-half (1/21 of the
cost of the real estate appraisal ($137.501 and one-half (1/2) of the counsel feBs
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genereted by Wife's counsel In the preparation of the Proparty Settlement Agreement
1e253,75), The aforementioned payment to Husband In the form of equitable
distribution was arrived at In consideration of the distribution of all marital assets
Including transfer of title to the marital residence.
After transfer of title has been accomplished as aforementioned, Husband must
vacate the marital property located at 210 Chestnut Grove Road, Dlllsburg,
Pennsylvania no later than April 1, 1995, This date may be extended by mutual
agreement of the parties, however, absent an extension by both parties In writing,
Husband must vacate by said date, Until time Husband vacates the residence, he will
pay $435,00 per month as rant for his right to remain in the property, Said payment
to be made on or before the first of each monlh beginning February 1, 1995,
Husband shall also pay, while he retains a rental right In the property, ons-half (1/2)
of the monthly electric and basic telephone charges as well as any toll calls for which
he Is responsible,
4. DIVISION OF PERSONAL PROPERTY.
The parties have divided belwean them to their mutual satisfaction, personal
effecls, household goods and furnishings and all other articles of personal property
which have heretofore been used in common by them, and neither party will make any
claim to any such Items which are now in the possession or under the control of the
other with the exception of the following items which shall be removed by Husbend
within ten (10) days of the execution of this Agreement: RCA Console TV, RCA VCR,
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Freezer, 1,000 Shares of Harvey Electronics, 1,000 Shares of Crazy Eddie's stock,
Dirt Dsvil, Extension ladder, Roto Tiller, Cash Register, end Jim Beam Bottle
Collection, Should it become necessary, each party agrees to sign any title or
documents necessary to give effect to this paragraph, upon request.
6. COUNSEL FEES,
As previously referenced in Paragraph 3 hereof, Husband agrees to pay one-half
(1/2) of actual counsel fees expended by Wife for the preparation of' this Property
Settlement Agreement. Said fees shall include, not only the preparation of ths
Agreement, but the review of any corraspondence or meetings with Wife In order to
determine the specific provision of the Agreement to be prepared by Wife's attorney.
The said counsel fees generated by the preparation of this document are $507.50,
One-half (1/2) of the aforementioned counsel fees has been specifically designated In
Paragraph 3 hereof and shall be deducted from Husband's equitable distribution
payment at the time of final settlement,
e, TAX ON PROPERTY DIVISION.
Husband hereby agrees to pay all Income taxes assessed against him, If any,
as a result of the division of the property of the parties hereunder, Wife hereby agrees
to pay all Income taxes assessed against her, If any, as a result of the division of the
property of the parties hereunder,
7, MOTOR VEHICLES.
Wife shall retain ownership of the 1988 Nlssan Maxima with a value of
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$6,025,00 and Husband shall retain ownership of the 1993 Nlssan King Cab with a
designated value of $12, 560,00. The parties will execute the documents necessary
to transfer title,
8, PENSIONS,
Each party shall retain their own Individual pensions through their amployer, Fry
Communications. Each party agrees to execule any documents necessary to waive
the claim In the other's pension as aforementioned.
9. IlANK ACCOUNTSIINVESTMENTS.
The parties have divided to their satisfaction on an equal basis, their IDS Funds
as well as 011 cash In the Members First checking and savings accounts,
10, LIFE INSURANCE.
The parties are the owners of the following life Insurance policies which shall
be retained by the Individual designated as owner of the policy:
a. New England Mutual Life Insurance Company Policy No, 08583366; Gary
E, Loy . Owner; Death Benefit. $32.152.00; Cash Value. $2,120,00.
b. Prudential Policy No. 17-050-625, Gary E. Loy. Owner; Death Benefit -
$5,000.00.
c, New England Mutual LIfe Insurance Company Policy No, 08583304;
Christina Loy - Owner, Death 8enefit . $43,431.00; Cash Value. $2,942.00,
Pending a final Decree In Divorce, the parties shall designate each other as
beneficiary on the aforementioned policies. Upon the granting of the final Dacree In
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Divorce, each party has the right to make a change In the beneficiary designation as
aforementioned,
11, 1994 INCOME TAX RETURN,
The parties agree that they shall file a Joint Incoma tax return for the tax year
1994 and shall split equally any refund or liability on said return,
12, BREACH,
If either party breaches any provision of this Agreement, lhe other party shall
have the right, at his or her election, to sue for damages for such breach, The party
breaching this contract shall be responsible for the payment of legal fees end costs
Incurred by the other In enforcing his or her rlghls under this Agreement, or seeking
such other remedy or relief as may be available to him or her,
13. FULL DISCLOSURE,
Husband and Wife each represent and warrant to the other that he or she has
made a full and complete c;Sclosu1e to the other of all assets of any nature
whatsoever In which such party of every type whatsoever and all other facts relating
to the subject matter of this Agreement.
14, ADDITIONAL INSTRUMENT.
Each of the parties shall on demand execute and deliver to the other any deeds,
bills of saJe, assignment, consenlS to change of beneficiary on Insurance policililS, tax
returns and other documents and do or caused to be done any other act or thing that
may be necessary or desirable to the provisions and purposes of this Agreement, If
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either peny fslls on demand to comply with this provision, that party shall pay to the
other sll attorneys' fees, costs and other expenses reasonably Incurred as e result of
such failure,
16, WIFE'S OEm.
Wife represents and warrants to Husband that since the parties' separation she
has not and in the future she will not contract or Incur any debt or liability for which
Husband or his estate might be responsible and shali Indemnify and sava Husband
harmless from any and all claims or demands made against him by reason of debts or
obligations Incurred by her,
16, HUSBAND'S DEBTS.
Husband represents and warrants to Wife that since the parties' separation he
has not and In the future he will not contract or incur any debt or liability for which
Wife or her estate might be responsible and shall Indemnify and save Wife harmless
from any and all claims or demands made against her by reason of debts or obligations
Incurrad by him.
17, WAIVERS OF CLAIMS AGAINST _ESTATES,
Except as herein otherwise provided, each party may dispose of his or her
property In any way, and each party hereby waives and relinquishes any and all rights
he or she may now have or hereafter acquire, under the present or future laws of any
jurisdiction, to share in the property or the estate of the other as a result of the marital
relationship, Including without limitation, dower, curtsy, statutory allowance, widow's
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allowanca, right to taka In Intestacy, right to take against the Will of the other, and
right to act as edmlnlstrator or executor of the other's estate, and each will, to the
request of the other, execute, acknowledge, and deliver any and all Instruments which
may be necessary or advisable to carry into effect this mutual waiver and
relinquishment of all such interests, rights and claims.
18, REPRESENTATION,
'.
It Is recognized by the parties hereto that Christina Loy Is represented by John
J, Connelly, Jr,. Esquire, It is fully understood and agreed that the parties have the
right to have advice of counsel prior to the signing of this Agreement. By the signing
of this Agreement, Husband understands the legal Impact of lhls Agreement and
waives his right to have this Agreement reviewed b\' an attorney of his choosing, end
further acknowledges that the Agreement Is fair and reasonable and Intends to be
legally bound by the terms hereof.
19, VOLUNTARY EXECUTION.
The provisions of this Agreement are fully understood by both parties and each
party acknowledges that this Agreement is fair and equitable, that It Is being entered
Into voluntarily and that it is not the result of any duress or undue influence,
20. ENTIRE AGREEMENT.
This Agreement contains the entire understanding of the parties and there are
no representations. warranties, covenants or undertakings other than those expressly
set forth herein.
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21. PRIOR AGREEMENT,
It Is understood and agreed that any and all property settlement agreements
which mayor have been executed prior to the date and time of this Agreement are
null and void and of no effect,
22. MODIFICATION AND WA~.
Any modification or waiver of any provision of this Agreement shall be effective
only if made in writing and executed with the same formality as this Agreement, The
failure of either party to insist upon strict performance of any of the provisions of this
Agreement shall not be construed as a waiver of any subsequent default of the same
or similar nature.
23, GOVERNING LAW.
This Agreement shall be governed by and shall be construed In eccordance with
the laws of the Commonwealth of Pennsylvania.
24. INDEPENQENT SEPARATE COVENANT$.,
It is specifically understood and agreed by and between the parties hereto that
each paragraph hereof shall be deemed to be a separate and independent covenant
and agreement.
25. VOID CLAUSES,
If any term, condition, clause, or provision of this Agreement shall be
determined or declared to be void or invalid In law or otherwise, then only that term,
condition, clause or provision shall be stricken from this Agreement and In all other
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respects this Agreement shall be valid and continue In full force, effect and operation,
26. ENTRY AS PART OF DECREE,
It Is the Intention of the parties that this Agreement shall survive any action for
. divorce which may be Instituted or prosecuted by either party and no order, Judgement
or decree of divorce, temporary, final or permanent, shall affect or modify the financial
terms of this Agreement. This Agreement shall be made a part of any such Judgment
or decree of finai divorce.
27. DOMESTIC RELATIONS CODE OF THE COMMONWEALTH OF
fUtNSYLVANIA.
Except as specifically provided in this Agreement, each party waives any claim
they may have against the other under the Domestic Relations COd8 of the
Commonwealth of Pennsylvania Including, but not limited to, alimony, alimony
pendente lite, counsel fees, costs and equitable distribution of marital property,
28, RECONCILIATION.
It is specifically agreed to by the parties that this Agreement shall survive any
reconciliation between the parties unl~ss specifically modified or terminated In writing,
29, DIVORCE,
It Is the right of either party under the Domestic Relations Code of the
Commonwsalth of Pennsylvania to file a Complaint in Divorce. The parties agree that.
should a divorce be filed by either party, it shall be filed under Section 3301 (c) of the
Domestic Relations Code. The parties further agree that, at the end of ninety (90)
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5. Date and manner of service of the notice of Intention to file
praecipe to transmit record. a copy of which Is attached:
1.J/6fctS '\,
Date:
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CHRISTINA LOY,
Plaintiff
v.
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
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NO. /J 4 n) (I/,' . C , ~'/1.-
GARY E. LOY,
Defendant
CIVIL ACTION. LAW
IN DIVORCE
NOTICE
You have been sued In Court. If you wish to defend against the claims set
forth In the following papers, you must take prompt action. You are warned that If
you fall to do so, the case may proceed without you and a Decree in Divorce or
annulment may be entered against you by the Court. A judgment may also be entered
against you for any other claim or relief requested in these papers by the Plaintiff.
You may lose money or property or other rights important to you, Including custody
or visitation of your children.
When the ground for the divorce Is Indignities or Irretrievable breakdown of the
marriage, you may request marriage counseling. A list of marriage counselors Is
available In the Office of the Prothonotary at the Cumberland County Court House,
One Courthouse Square, Carlisle, Pennsylvania.
IF YOU DO NOT FILE A CLAIM FOR ALIMONY, DIVISION OF PROPERTY,
LAWYER'S FEES OR EXPENSES BEFORE A DIVORCE OR ANNULMENT IS GRANTED,
YOU MAY LOSE THE RIGHT TO CLAIM ANY OF THEM.
YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU DO
NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE
OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP.
Court Administrator
Cumberland County Court House
Fourth Floor
1 Courthouse Square
Carlisle, Pennsylvania 17013
Phone: (717) 240-6200
John J. Connelly, Jr., Esquire
Attorney for Plaintiff
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I verify that the statements made In this Affidavit are true and correct.
understand that false stetements herein are mede subJect to the penalties of 18 Pa.
C.S.A. Section 4904, relating to unsworn falsification to authorities.
Date: /2//14')"
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