SW4130801_Separation Agreement/Property Settlement_20130905

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COUNTY OFCHATHAM aK2794 m356-363
SEPARATION AGRF,EMENT AND PROPERTY SETTLEMENT
THIS SEPARATION AND PROPERTY SETTLEMENT AGREEMENT, made and entered
into as of this 3rdday of March, 2009, by and between CAROLINE ALLEN HINSHAW, of
Alamance County, North Carolina, hereinafter called "Caroline" and DANIEL HINSHAW, of
Chatham County, North Carolina, hereinafter called "Daniel";
WHEREAS, the parties hereto were lawfully married to each other on April 15, 2005; and,
WHEREAS, then was one (1) child hom of the marriage, namely William Alien Hinshaw,
who was born on September 17, 2005, and
WHEREAS, due to unfortunate irreconcilable differences, the parties separated on or about
January 5, 2007, and intend to continuously live separate and apart; and
WHEREAS, various unfortunate and unhappy difficulties, disputes, and differences have
arisen between the parties, as a result of which they are no longer able to live together in peace
and harmony, and it is therefore necessary for the health, happiness, and well being of both
parties that they should continue to live separate and apart from each other; and
WHEREAS, the parties mutually have decided and agreed to live separate and apart for the
remainder of their natural lives, terminate the marriage relationship, and each go her or his own
way unmolested by the other, both understanding and agreeing that either party may apply to the
court for an absolute uncontested divorce on grounds of mutual separation of the parties at such
time as the parties have been continuously separate for one (1) year or more, and
WHEREAS, the said parties desire to enter into this separation agreement for the purpose of
confirming their mutual separation, settling their property rights, achieving an equitable
distribution of their marital property, and making arrangements in connection therewith;
NOW, THEREFORE, FOR AND IN CONSIDERATION of the mutual covenants, promises,
and agreements Herein declared and set forth, and in compliance with . '.S. Sect'on 50-30 d
the parties hereto agree as follows:
Sr&ti ,i1. CUSTODY AND CHILD SUPPORT
A. That Caroline shall have sole custody of the minor child, William Allen Hinshaw, subject
to visitation rights to Daniel as hereinafter set forth.
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B. "that Daniel shall have reasonable visitation with William, which shall be as follows:
l . Beginning the first weekend following the execution of this agreement and on alternating
weekends thereafter, Daniel shall have William with him from 6:00 p.m. on Friday until
6:00 p.m. Sunday.
I. Beginning in 2007 and in each year thereafter from 8:00 a.m. until 4:00 p,m. on
Christmas Eve; and from 1:00 p.m. until 6:00 p.m. on Christmas Day.
3. At such other titnos as the parties shall mutually agree.
C. That both Caroline and Daniel love William and are concerned about his welfare and will
cooperate with each other to provide for his psychological, educational, and medical needs.
Neither Daniel nor Caroline will make any derogatory enrntncnts about the other parent in the
presence of the William. Neither Daniel nor Caroline will do anything to estrange William from
the other party or to impair William's high regard for the other parent.
Section 2, Child Support
Daniel shall pay to Caroline for the support of his minor child, William, the sum of $110.50
on the first Friday following the execution of this agreement, and $110.50 on each Friday
thereafter.
Sec,tion 3. Life Insurance for Benerit of William
Daniel shall maintain in good standing, with a reputable company, life insurance on his life in
an amount of at least S 150,000, with William named as beneficiary until William reaches the age
of 19 years; and, thereafter, life insurance in an amount of at least $100.000. with William as
beneficiary, for so long as he has an obligation to provide any funds in support of William's
college education.
Caroline shall maintain in good standing, with a reputable company, life insurance on her life
which she has through her employment, with William named as beneficiary, until such time as
her obligation to provide fifly percent of William's college education ceases.
Daniel and Caroline agree to provide each other on the first day of each year, proof that each
has maintained their respective life insurance policies in full force and effect.
Section q. College Education
Daniel will agree to pay directly fifty percent (50%) of funds required to cover the ordinary
and necessary expenses, including but not limited to, tuition, fees, books, housing, and other
ordinary and necessary expenses of a four-year college education for William. Daniel's
obligation under this paragraph shall not exceed the average annual cast for an in -state resident
to attend the university of North Carolina at Chapel ]-till and shall also be contingent upon
William making satisfactory academic progress.
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It is agreed that if William begins college prior to his I $1b birthday, any payment made toward
such college expenses shall he a credit against any child support payments required hereunder.
Sccti n 5. Personal Property
That by way of property settlement and equitable distribution pursuant to N.C,G.S. Section
0� 2Q(d , the parties have agreed and provided for a settlement and distribution of the marital
property and divisible property, and have further agreed and provided for a settlement of all other
property rights, whether arising under any provision of the laws of the State of North Carolina or
arising under any provision of the laws of any other jurisdiction. Their property settlement and
distribution of marital property and divisible property, as well as marital debts is as follows:
A. Marital Personal Property:
Caroline shall be entitled to exclusive ownership and possession of all items of tangible
and intangible personal property now in her possession or under her control as her
separate property, fro from any claim of Daniel.
2. Daniel shall be entitled to exclusive ownership and possession of all items of
tangible and intangible personal property now in his possession or under his control
as his separate property, free from any claim of Caroline,
3. Automobile: On the date of separation, Caroline owned a 2003 Toyota 4-Runner
automobile which is titled in her name, and said automobile is and shall be the separate property
of Caroline free from any claim of Daniel. Caroline shall be solely responsible for all
indebtedness secured by a lien on said vehicle and shall hold Daniel harmless therefrom, to
include court costs and attorneys fees. On the date of separation, Daniel owned a 2002 Toyota
Tacoma truck which is titled in his name, and said vehicle is and shall be the separate property of
Daniri free from any claim of Caroline. Daniel shall be solely responsible for all indebtedness
secured by a lien on said vehicle and shall hold Caroline harmless therefrom, to include court
costs and attorneys fees. Each party shall at all times maintain liability insurance on their
respective vehicle.
4, Daniel shall be entitled to sole ownership and possession, as his separate property, of any
and all rotimmcnt accounts in his name whether the same be IRA's, 401 K's or otherwise, free
from any claim of Caroline. Caroline shall be entitled to sole ownership and possession, as her
separate property, of any and all retirement accounts in her name whether the same be IRA's,
401 K's or otherwise, free from any claim of Daniel.
5. The parties have it joint bank account with a balance of approximately $23.00. Said
account shall be closed and the proceeds shall be paid to Caroline.
13. Debts: As of the date of separation the parties owed the following debts:
l _ Caroline has a VISA credit card account, and she accepts sole responsibility for any
indebtedness owed on said account.
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2. As an inducement to Caroline to enter into this agreement, Daniel represents that he has
no credit card accounts, or other indebtedness except that indebtedness secured by a lien
on his vehicle.
Section 6. REAL PROPERTY
A. The parties own no teal properly which could be considered as marital property. That by
way of property settlement and equitable distribution pursuant to N.f,,G.S, Section 50-201d),
Daniel acknowledges that Caroline owns as her separate property a mobile home and the land
upon which it is situated which is located at 781 Clark Road, Snow Camp, N. C. 27349.
Caroline shall continue to own said mobile home and land as her separate property free from any
claim of Daniel.
Section 7. ALIMONY
That both parties do hereby waive, release, and relinquish any and all rights, whether past,
present, or future which either of them may have against the other to receive permanent alimony,
alimony pendcrae Fite, or any other support from the other. It is agreed that in the event that
either Daniel or Caroline should institute suit for divorce that neither will pray of the Court or
otherwise ask for counsel fees, alimony pendente lite, permanent alimony, or subsistence of any
character, and it is agreed that no separate suit will be commenced or cross -action filed therefor,
The waiver made by each party is a waiver of property rights and is a part of the property
settlement provisions of this agreement and is considered an "executed transaction" at such time
as this document is signed by the parties.
Section 8. DEBTS SINCE DATE OF SEPARATION
A. Each party shall be responsible for any and all debts created by him or her since the date
of separation, and each party shall hold the other harmless as to any such obligation.
C. Each parry shall be solely responsible for the payments in regards to his or her vehicle and
shall indemnify and hold the other harmless as to said obligation, including attorneys fees and
court costs.
Section . MODIFICATION
It is agreed that if an action for absolute divorce is instituted at any time hereafter by either
party in this or any other jurisdiction, the parties shall be bound by all of the terms hereof,
however, this agreement shall not be incorporated into any decree that may be granted in such
divorce action and shall not be adopted by the court as its own determination of the parry's rights
and duties concerning equitable distribution and property rights, and shall not be merged in such
decree, but shall survive the same and shall be forever binding and conclusive on the parties
hereto, except as incorporation of the language of this agreement might be necessary in order to
completely effectuate an equitable distribution of the marital property of the parties and to
comply with any requirements of the federal or state tax laws in order to comply with said laws
in order to minimize the tax consequences of the transfer of any property between the parties.
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Section 10. LEGAL REPRESENTATION BY COUNSEL
Daniel and Caroline have engaged in direct negotiations in reaching this agreement. Caroline
has employed the services of Robert L. Gunn, of the law firm of Gunn & Messick, LLP, to
prepare this agreement and to represent her in this matter, and Daniel acknowledges that he has
received no advice or representation from said law firm or any of its members..
55�Ltl2p 11. MUTUAL RELEASE
A. SEPARATION AND SEPARATE DEBTS AND LEFT ALONE. From and after the
execution of this agreement, both parties shall henceforth live wholly separate and apart from
each other in the same manner as if they had never been married to each other, and it shall be
lawful for each to live separate and apart from the other and to continue to so live and reside and
associate from time to time, at such place or places, with such person or persons, w either such
party shall see fit, and to conduct, carry on, and engage in any employment, trade, or business
that either such party may deem fit, all for the separate use and benefit of such party, and free
from any control, restraint, authority, or interference, directly or indirectly, by the other, in all
respects, as if such parties were sole and unmarried; and further, each party will contract in the
future, and he contracted with, independent of the other, and neither party shall be liable for any
debts or obligations incurred by the other, nor shall either party contract any debt for which the
other shall be liable.
Neither patty shall molest or bother the other, directly or indirectly, nor compel, nor attempt
to compel, the other to cohabit or live with him or her in any way whatsoever, nor shall either
interfere in any way with the other's right to live at such place or places as he or she shall see Gt,
or with such other person or persons as he or she shall see fit.
B. IWE TRADER — MUTUAL RELEASE OF RIGHTS. Caroline, for herself, her heirs,
executors, administrators, and assigns, hereby releases and relinquishes unto Daniel, his heirs,
executors, administrators, and assigns, all rights of future support (except as detailed in this
agreement), all right of dower, inheritance, descent, and distribution, the right to dissent from his
u1t], and any and all other rights arising out of the marriage relationship under present or future
laws, and to any and all property or interest in property, real, personal, and mixed, now owned or
hereafter acquired by Daniel, and hereby agrees that Daniel may henceforth acquire, hold,
manage, alienate, lease, and convey his said property without her knowledge, further consent, or
joinder, in accordance with the provisions of hLQjJh CgoljMc t 39- 4, just the
same as if she had never been married to him, and further does hereby release, relinquish, and
renounce any and all right to administer upon his estate.
Daniel, for himself, his heirs, executors, administrators, and assigns, hereby releases and
relinquishes unto Caroline, her heirs, executors, administrators, and assigns, all right of futwu
support, all right of courtesy, inheritance, descent, and distribution, the right to dissent from her
will, and any and all other rights arising out of the marriage relationship under present or future
laws, and to any and all property or interest in property, real, personal, and mixed, now owned or
hereafter acquired by Caroline, and hereby agrees that Caroline may henceforth acquire, hold,
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manage, alienate, Icase, and convey said property without his knowledge, further consent, or
joinder, in accordance with the provisions of North CargIina C� ell Statute,§ 39-13.4, just the
same as if he had never been married to her, and further does hereby release, relinquish, and
renounce any and all right to administer upon her estate.
C. FUTURE CONVEYANCE. It is agreed on the part of each party hereto that in the event
of a sale, transfer, or other conveyance of property, real, personal, or mixed, now owned or
hereafter acquired by either party, if it should become necessary to guarantee or pass good title
thereto, that the other party to this agreement should he called upon to execute any deed,
convcyance, bill of sale, or other legal instrument concerning the dealing in such property, then
in such event, the other party to this agreement agrees to and will sign any instrument or
conveyance which may be reasonably required to perfect title in the party to whom it is sought to
be conveyed, and it is covenanted and agreed between the parties that each of them shall and
will, at any time or times hereafter, make, execute, and deliver any and all such other and further
assurances as the other party shall reasonably require for the purpose of giving full effect to these
agreements and to this covenant, so long as no obligation is thereby imposed upon the party
whose signature is sought by the other.
D. DIVORCE. Nothing herein shall be deemed to prevent either of the parties from
obtaining an absolute divorce from the other. In the event that such an action is instituted, the
parties shall be bound by all terms of this agreement.
E. ENTIRE UNDERSTANDING. That this agreement contains the entire understanding of
the parties, and that there are no rcpresenta6ons, warranties, covenants, or undcrtakingfv other
than those expressly set forth herein.
F. MODIFICATION. That a modification or waiver of any of the provisions 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.
0. SEVERAAILITY. That if any provision of this agreement is held to be invalid or
unenforceable, all other provisions shall nevertheless continue in full force and c!f'eci.
H. EFFECT OF RECONCILIKI]ON ON PROPERTY SETTLEMENT. In the event of
reconciliation and resumption of the marital relationship between the parties, the provisions of
this agreement for settlement of property rights shall nevertheless continue in full force and
e[Tcet without abatement of any term or provision hereof, except as otherwise provided by
written agreement duly executed by each of the parties after the date of the reconciliation_
1. ATTORNEY'S FEES. If either party breaches any of the terms of this agreement, the
breaching party shall be required to pay reasonable attorney's fees for the party whose rights
were violated as a result of said breach.
J. EQUITA13LF, DIS-HUBUT10N.'lhe property settlement as provided herein is the act of
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]anicl and Caroline in equitably dividing their property as provided under N.C.G,S. Section 50-
!M. Each releases the other from any further claim which would or might arise in favor of
:itlter under 1` C.G.S. Sect on 50-20, or any other state or federal law Involving the division of
property acquired during the marriage now in effect or hereinafter passed or decided.
K. WAIVER OF GRIEVANCES --RELEASES. Any conduct on the part of either party
xcurring prior to the execution of this agreement which may have constituted a basis for any
regal claim by either party against the other or against a third party, is hereby waived and
�cicased and will not be used by either party against the other in any future proceedings against
them. Daniel and Caroline release byway of third party beneficiary contract any claim they may
have against any third party arising out of the dissolution of this marriage. The consideration for
this waiver is the execution of this Separation Agreement.
L. FORWARDING CORR>rSPONDENCE. Each party agrees that he and she will promptly
forward to the other all mail and other correspondence received addressed to the other party
scpamtcly,
IN WITNESS WHEREOF, we have hereunto set our hands and seals, after first adopting the
word "seal" next to our names, as our personal seals to DUPLICATE ORIGINALS of this
agreement, one of which is retained by each party, this the day and year first above written.
(fNV& J&,- (SEAL)
CAROLINE ALLEN HINSHAW
�}..:1.. !k-s- .-- - (SEAL)
DANIEL FIINSHAW
REMAMER OF PAGE INTIyMS2NALLY LEFr ALANK
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STATE OF NORTH CAROLINA
COUNTY OF ALAWCE
1, a Notary Public in and for Alamance County, North Carolina, do hereby certify
that CAROLINE AL LEN HINSKA W personally appeared MfOre me this day and acknowledged
the due execution of the foregoing instrument.
Witness my hand apd-Ntariai seal, this the 3rd day of March. 2009.
7ZAN
P ntcd e: Jam G. Fork
otary Pu 'c
..
My Commission Expires: 9-26-09
STATE OF NORTH CA ROLIN A
COUNTY OF ALAMNCE
I,aNotary Public inand for Alamance County, North Carolina, do hereby certify
that DANIEL HINSHAW personally appeared before me this day and acknowledged the due
execution of the foregoing instrument.
itness my hand d 'al seal, this the 3rd day of March, 2009.
Prin d C: Aleit G.'tark-
JA ",-1,
No y Publi ..... .......14.-%
IL
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My Commission Expires: 9-26-09
8
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