Thurston Marital Settlement Agreement

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    IN THE CIRCUIT COURT OF THE SEVENTH JUDIC IAL CIRCUIT ,IN AND FOR ST. JOHNS COUNTY , FLORIDACaseNo.: !'R-OOO f I J 3Division: .::::.5 _~~ _IN RE THE MARRIAGE OF:

    SHERR IL L THURSTON ,Wife,and

    RO BE RT A . T HU RST ON ,Husband~TALSETTLEMENTAGREEMENT

    T his A greem ent is m ade in connection w ith an action for dissolution betw eenS herrill T hu rsto n, referred to as "W ife" h erein, an d R obert A . T hu rsto n, referred to as"H usband" herein , w ho are sw orn and agree as follow s:WHEREAS, th e p arties h ereto w ere m arried to each o th er o n o r ab out F ebru ary8, 1985, in U pper s t . C la ir, PA ;WHEREAS, no children w ere born to or adopted by the parties involved in this

    actio n, and n on e are exp ected ;WHEREAS, Wife has filed a petition for dissolution of m arriage in the abovecase, and this A greem ent is in tended to be introduced into evidence in such action, tobe incorporated in a F inal Judgm ent entered therein;WHEREAS, th e p artie s a ck now le dg e th at irre co nc ila ble d iffe re nc es e xis t, th atthe m arriage is irretrievably broken, and that the parties in tend to live separate andapart from each other;WHEREAS, the parties w ish to settle betw een them selves, now and forever,

    th eir re sp ectiv e rig hts, d uties, a nd o blig atio ns re gard in g p ro perty a nd liab ilitie s;WHEREAS, each party has read this A greem ent and understands its term s andc on se qu en ce s, a nd e ac h p arty b eliev es th at th is A greem en t is fa ir,ju st, an d re aso na ble;

    srSTWHEREAS, each party has assented to this A greem ent freely and volunw ith ou t coercio n o r d uress;

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    NOW,THEREFORE, in c on sid era tio n o f th e mu tu al c ov en an ts, p rom ise s a ndundertakings set forth herein , and for other good and valuab le consideration, theparties have agreed and do hereby agree as follow s:ARTICLE IREAL ESTATE

    The Marital Residence1.1 T here exists certain real p roperty in w hich one or both parties m ay claiman in terest, h erein referred to as th e "M a rital R esid en ce," lo cated at 7 3 N . T ifto n Wa y,P onte V ed raF L 3208 2-3319 .1 .2 T he M arital R esidence shall be the property of H usband, and W ife hereby

    w aives and releases an y an d all claim o r interest in said prop erty . W ife sh all executeand deliver a special w arranty or quitcla im deed to convey any and all such in terestin said property to Husband. W ife hereby assigns to Husband any and all of herin terest in any escrow accounts, hom eow ner's insurance policies, and/or u tilitydeposits in connection w ith the M arital R esidence. H usband shall pay all taxes andin su ran ce o n th e M a rital R esid en ce as o f D ecemb er 1 ,20 09 . H usb an d sh all b e en titledto take any item ized deductions availab le under the In ternal Revenue Code inco nn ectio n w ith th e M a rital R esid en ce, in clu din g item s su ch a s m o rtg ag e in terest an dreal estate taxes for the tax year in w hich this A greem ent is executed, and every yearthereafter.ARTICLEllRETIREMENT

    2.1 E ach party shall receive any and all benefits existing by reason of h is orh er p ast, p resen t, o r fu tu re em p lo ym en t o r m ilitary serv ice, in clu din g b ut n ot lim itedto an y p ro fit-sh arin g p lan , retirem en t p la n, K eo gh p lan , p en sio n p lan , em p lo yee sto cko ptio n p lan , 40 1(k ) p lan , em p lo yee sav in gs p lan , m ilitary retire d p ay , acc ru ed u np aidbonuses, or disability plan, w hether m atured or unm atured, accrued or unaccrued,vested or o th erw ise, tog ether w ith all increases thereof, the proceeds therefro m andany other rights related thereto . T he other party hereby w aives and releases any anda ll c la im s o r in te re st th ere in .

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    ARTiCLEmDMSION OF OTHER ASSETS AND LIABILITIES

    3.1 Identification and Value of Property and Debt During the marriage,Husband and W ife accumulated m arital property and m arital debt. P rior to thee xe cu tio n o f this A greem ent, H usband and W ife have had discussions concerning theidentity of all m arital property and m arital debt and the approxim ate value of suchproperty and debt. N either H usband nor W ife has relie d o n a ny re pre se nta tio n, w h ic hmay have been m ade by the other as to the identity or value of any such property anddebt. H usband and W ife acknow ledge that they have had full and am ple opportunityto co nd uct an in dep en den t in vestig atio n co ncern in g th e id en tificatio n an d v alue o f allproperty and debt of the parties as of the date of separation and as of the date of theex ec utio n o f this Agreem en t. H usb an d an d W ife are satisfied w ith th eir o wn o pin io nsas to the identification and value of any such property and debt. H usband and W ifew aiv e a ny a nd a ll c la im s a risin g o ut o f a ny a lle ge d m isre pre se nta tio n o r n on disclo su rem ade by the other party , or his or her representatives, pertain ing to the fm ancialc onditio n o r status o f th e o th er p arty , th e id en tific atio n a nd v alu e o f p ro pe rty o r a ssets,and the identification of any debts or liabilities, regardless of w hen any such allegedm isrep resen tatio n or n on disclo su re m ay h av e o ccu rred .

    3.2 Vehicles. Husband hereby transfers to W ife all of his rig ht, title an dinterest inand to the 2003 C hevrolet T ahoe. W ife shall be re sp on sib le fo r th e p aym en tof all ad valorem taxes and insurance prem ium s w ith respect to such autom obile.3.3 L ife Insurance. Husband shall be en titled to all life insu ran ce po liciesow ned by H usband, and W ife. shall be entitled to all life insurance policies ow ned byW ife. H usband and W ife hereby release all right, title and in terest in and to any suchpolicies ow ned by the other party.3.4 Investm ent Property .H usband shall be entitled to all sto ck s, b on ds, an dan y p ro ceed s in an y b ro kerag e o r in vestm ent acco un ts inhis individual nam e as of thedate of execution of this A greem ent. W ife shall be entitled to all stocks, bonds, andany proceeds in any brokerage or investm ent accounts in her individual nam e as of thedate of execution of this A greem ent. H Usband and W ife hereby release all r igh t, t it le

    and interest in and to a ny su ch in ve stm e nt p ro pe rty inthe nam e of the other party.- '"3.5 Bank A ccounts. H usband-shall be entitled to all funds in any checking,savings, or other bank account in his individual nam e as of the date of execution ofth is A greem en t. W ife sh all be entitled to all funds in any checking, savings, or otherbank . accoun t inher individual nam e as of the date of execution of this A greem eH usband and W ife hereby release all right and interest in and to any such accoun2=[ST Page Lof 9 RAT

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    the nam e of the other party.3.6 B usiness In terests. H usband hereby transfers to W ife all of h is righ t, titleand in terest in and to H airm ax, L .L .C .; A lfreda, LLC ; the salons doing business at

    Independence M all as The R age and H airw orks; all o f the righ ts w ith respect to thesale of The R age salon form erly owned in W est V irg in ia; and any other en tity orbusiness in w hich H usband had an interest as of the date of th is agreem ent. W ife shallbe responsib le for all deb ts of the businesses transferred to her, except H usband shallb e sole ly lia ble fo r a nd a ll pa st d ue lo cal, fe de ra l an d sta te tax es, in tere st a nd p en altie sincurred prior to January I, 2009. H usband hereby resigns from any position he holdsw ith in a ny o f th es e b us in es se s. H u sb an d h ere by a pp oin ts W i fe , a s h is a tto rn ey -in -fa ct,to execute all docum ents and take all reasonable action necessary to effectuate theterm s of th is paragraph . T his designation of atto rney-in-fact is m ade pursuant to theprovisions of N .C . G en. S tat. 32A -I, e t ~ and Husband in tends for W ife 'sau thority to continue in effect no tw ithstanding any fu ture physical or m entali ncapac it y .3.7 O th er P erso na l P ro pe rty . A ll h ou se ho ld fu rn ish in gs, fu rn itu re , a pp lia nc esand other personal property have been div ided betw een H usband and W ife prior to theexecution of th is Agreem ent. H usband and W ife shall be the so le owners of thepersonal property curren tly in their actual or constructive possession, regard less ofw hose nam e the property m ay be titled . H usband and W ife relinquish all righ t, titleand interest in and to the personal property w hich is in the actual or constructivepossession of the other party. W ife shall have as her so le and separate property allp roperty stored in both M artin S elf S torage units in W ilm ington .3.8 U nidentified or U ndistribu ted M arita l P roperty . A ny unidentified orundistribu ted m arita l property shall be deem ed to be the so le and exclusive propertyof the party w ho has physical or constructive possession of the property ,. o r in w hosen am e th e p ro pe rty is title d.3.9 D istribu tion of D ebts. H usband and W ife have disclosed to each otherall deb ts incurred by either during the m arriage through the date of the execution ofth is A greem ent. E xcept as o therw ise referred to in th is A greem ent, there are no otherma rita l d eb ts .3 .10 H usband 's D ebts. H usband shall be so lely responsible the fo llow ingd eb ts: th e in de bte dn es s a sso cia te d w ith th e re al p ro pe rty in F lo rid a, th e d eb t a ss oc ia te dw ith a ll o th er p ro pe rty d istrib ute d to H usb an d a bo ve, all lo ca l, fe de ra l a nd sta te ta xe s,in terest and penalties incurred prior to January I., 2009 by the parties ind iv idualljo in tly o r th ro ug h a ny b usine ss in te re st in w hich e ith er p arty h ad a n in tere st, h is hcare and liv ing assistance expenses, and all cred it cards and other debts in . olename.

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    3.11 W ife 's D ebts. W ife shall be so lely responsible fo r the fo llow ing debts:the secured indeb tedness associa ted w ith her au tom obile and other propertyd istributed to W ife above (excep t the tax liability distribu ted to H usband), and allcredit cards and other deb ts in . her so le nam e.3.12 Incur N o O ther D ebts. N either party shall incur any deb t in jo int nam eso r in th e o th er p arty 's n am e h ereafter.3.1 3 In dem nity . E ach p arty shall ind em nify and h old h arm less the other partyfo r a ll d eb ts assig ned p ursu an t to th is A g reem e nt.

    General Provisions3.14 Full and C om ple te D isc losure. E ach party hereto w arrants and agreesthat he or she has m ade a fu ll and com plete disclosure to the other party of all m arita la nd n onmarita l p ro pe rty , in come, a sse ts a nd lia bilitie s.3.15 O ther Inform ation or Instrum ents. E ach party agrees to provide to theother p arty any n ecessary info rm ation o r to ex ecu te an d/or deliv er an y instrum ent ordocum ent necessary to transfer title or in terest in property consisten t w ith thisAgreement .3.1 6 N on disch ar~ eab le in B an kru ptcy . A ll term s o f t his A greem e nt p ertain in gto th e division o f m arital p roperty , in clud ing b ut not lim ited to any h old harm less orindem nification prov isions, are specifically intended by the parties to be

    n on disc harg eab le in th e ev en t o f b an kru ptcy .ARTICLE IVN O A LIM O NY

    4.1 B oth parties w aive any claim for alim ony, w hether tem porary, "bridge-the gap ," rehabilitative, perm anent, or lum p sum . N o prov ision of th is A greem entsho uld be co nstrued as paymen t of alim on y b y either party .ARTICLE VTAX ISSUES

    Federal Income Taxes for Tax Year 20095 .1 For tax year 2009, each party shall file an individual incom e tax returnin acco rdan ce w ith th e Interna l R ev enu e C od e.5 .2 U nless o therw ise specified inth is A g re em en t, an d in ad ditio n to in com esfST Page 5 of 9

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    attrib uta ble to each p arty 's resp ectiv e n onm arital p ro perty , each p arty m u st rep ort asthe p arty 's in com e on e-half of all incom e attribu table to m arital p ro perty , includ in gearn in gs from p erso na l se rv ic es receiv ed o n o r b efo re th e d ate o fth e d isso lu tio n o f th em arriage. A dditionally , each party m ay take credit for a ll of the reporting party 'sestim ated tax paym ents and federal incom e tax payroll w ithholding deductionsoccu rrin g after th e date of the dissolution of the m arriag e, and, to the ex tent allow edb y law , all d ed uctio ns, ex em p tio ns, cre dits, an d ad ju stm en ts attrib utab le to h is o r h erincom e an d expen ses after the date of th e dissolution o f the m arriage.

    5 .3 E ach party shall tim ely pay his or her tax liability in connection w ith thetax re tu rn filed by such party . A ny refund received as a resu lt o f a party 's tax returnshall be the sole property of the party filing such tax return.5 .4 E ach party shall indem nify and hold harm less the other party for such

    tax es, liab ilities, d eficien cies, assessm en ts, p en alties, o r in terest d ue th ereo n o r th eom ission o f taxable in com e o r claim of erron eou s dedu ctio ns o f the applicable party .Other Prov is ion s

    5 .5 A tto rney is N ot T ax Expert. T he parties acknow ledge that any attorneyinvo lved w ith this A greem ent does not claim to be an expert in tax m atters. E achparty states that he or she has consulted or has had the opportun ity to consult w ith atax professional to fully evaluate the tax im plications and consequences of th isAgreement .5 .6 R equest for Inform ation and C ooperation. It is ag reed that each partyshall prov ide any inform ation reasonably necessary to prepare federal incom e taxreturns, w ithin thirty (30) days of rece ip t of a w ritten request for th e sam e. E ach p artyshall reasonab ly coo perate w ith th e other in the p reparation o f in com e tax returns asset forth hereinabove. W ith in five days of receipt o f w ritten no tice from the o therparty , each party w ill allow th e o ther party access to th ese record s in o rder to resp ondto an IR S exam ination or request for inform ation . Purposes for w hich access to suchreco rd s w ill b e g ran ted in clu des, b ut is n ot lim ited to , th e d eterm in atio n o f ac qu isitio ndates o r tax basis, and such access shall include the right to copy the records.5 .7 P reservation of Inform ation . E ach party shall p reserve fo r a period ofsev en y ears from th e d ate o f th e filin g o f th e ap plicab le tax retu rn , all fin an cial reco rd srelating to the m arital p ro perty . E ach party shall preserv e ind efin itely , an y reco rd sw hich determ ine or affect th e tax basis in a ny ma rita l p ro p er ty .5 .8 No W aiver of "Innocent Spouse". T he parties agree that no th ingcontained herein shall be construed as or is in tended as a w aiver of any rights thap arty has u nder the "Inn ocen t S po use" pro visio ns of the Interna l R evenu e C ode.

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    ARTICLE VICOURT COSTS ANDATTORNEY'S FEES6.1 A ny costs of court, inclu din g the filing fee fo r th e petition fo r d isso lu tion ,w ill be borne by the party incurring the sam e.6 .2 E ach party w ill be responsib le for h is or her ow n attorney 's fees incurredherein.

    ARTICLE VIIGENERAL PROVISIONS

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    7.1 M utual R elease. E ach party w aives, re leases and relinquishes any actualor poten tia l righ t, c la im or cause of action against the o ther party , includ ing b ut n otlim ited to asserting a claim against the estate of the o ther party or to act as a personalrepresen tative o f such estate , except as o therw ise provided for in th is A greem ent ora ri sin g he reunde r.

    7 .2 R esolu tion o f Futu re D isputes. In the event of any disagreem entregard ing an issue betw een the parties, the parties shall first confer and exercisereason able efforts to reso lve such a dispute . E xcept in an em ergency , before a partyfiles leg al actio n regard ing an issue of any such disp ute o r regard ing m odificatio n ofa ny te rm s a nd c on ditio ns o f t his A gre em e nt, th at p arty sh all m a ke a g oo d fa ith a ttem ptto su bm it th e d isp ute o r c on tro ve rsy to m e dia tio n.7.3 R econcilia tion . In the event of a reconcilia tion o r resum ption o f m arita lre la tions, th is A greem ent or its provisions sh all no t b e abrogated in any w ay w ith outfu rth er w ritte n a gre em e nt o f th e p artie s.7 .4 N o O ral A greem ents. T he parties agree that th is A greem ent constitu testhe entire agreem ent of the parties, that th is A greem ent supersedes any prioru nderstand ing s or agreem ents betw een them , and th at there are no represen tations,w a rra ntie s, o r o ra l a gre em e nts o th er th an th ose e xp re ssly se t fo rth h ere in .7.5 N o W aiver o f B reach . The failu re of a party to insist on stric tp erform ance of a ny provision of th is A greem ent shall n ot be construed to constitu te

    a w a!".er of a breach of any o ther provision or of a subsequent breach o f the sam eprOVISIon .7.6 Severab ility . T his A greem en t is severab le , and if any term or p rov isi nis determ ined to be unenforceable , th is shall no t render the rem ainder eAg r eemen t unen fo rceab le .

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    7 .7 O ther A cts. Each party agrees to tim ely perform such other acts that arereasonably necessary or that m ay be reasonably requested by the other party toe ffe ctu ate th e p ro vis io ns o f th is Ag re em ent.7 .8 Surv ival of A greem ent: N o M erger. T his A greem ent m ay be offered in toevidence by either party in an action for d isso lu tion of m arriage, and m ay beincorpo rated by reference in a final judgm ent en tered therein . N otw ithstandingin co rp ora tio n, th is A gre em en t sh all n ot b e m e rg ed in su ch ju dgme nt b ut sh all su rv iv ethe judgm ent and be binding on the parties.7 .9 R em edies for E nforcem ent. T he term s and p rovisions of th is A greem enta re en fo rceab le inc on tra ct, in a dd itio n to a ny rem ed ie s fo r e nfo rc em en t th at m ay a lsob e av aila ble u nd er a ny fin al ju dgm en t o f d isso lu tio n o f m a rria ge e nte re d b etw e en th epart ies.I, SHERRILL THURSTON, certify that I have been open and honest inentering into this Agreement. I am satisfied with this Agreement and intend tobe bound by it.

    D ated: N ovem ber 5 , 2009~~S RR ILL THURSTON

    STA TE O F FL OR ID ACO UN TY OF ST . JO HN S

    Sw orn to or affirm ed and subscribed before m e on ~ " 5 1 , ? l { ! J jby SH ER RIL L T HURST ON . ~iN O T A R Y PI1BUC~TATE O F F L O R I D A ;C ~l : W - ' - _ Lynne R. Menshouse Y P LIC - STATE OF FLOR IDA~ .~ C o m m i s s i o n # D D 7 3 5 9 5 3"""",, , ~ Expi re s: NOV.19 ,2011B ON DE D 1 1lR U A TL AN TIC B ON DIN G C O., IN C.

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    P rin ted N am e of N otaryP e rs on ally k nown~ P roduced identification 1Ty pe o f id en tific atio n p ro du ce d _ _ . . . . , # . _ _ ( ! _ _ . - - ' - } . . . . . . ; ; I - - - _ . _

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    I, RO BERT A. THURSTON, certify that I have been open and honest inentering into th is A greem ent. I am satisfied w ith th is A greem ent and in tend tobe bound by it.

    D ated: N ovem ber 5 , 2009

    STA TE O F FLO RID ACOUNTY OF ST . JOHNSSw orn to (or affirm ed) and subscribed before m e on ;~ 5;, c 2 t ! Y )__ byROBERT A . THURSTON . ., "T">

    N O T A R Y P U B I 1 C - S T A T E O F F L O R I D A ' . ~~'7&WMa-" ' i ' " L y n n e R. M e n s h o u s e LIC - STATE OF ORIDA E C o m m i s s io n # D D 7 3 S 9 S 3\",....l Exp ires : NOV .1 9, 2 01 1B ON DE D T HR U A TL AN TIC B ON DIN G C O., IN C.

    P rinted N am e of N otaryP erso na lly k nown= x Produced iden ti fic a ti on II / 7 " \Type o f id en tific atio n p ro du ce d _ L - f \ t _ C _ _ 1 _ . _ . ; ; ; ; . V _ : ; ~ ~ _

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