Divorce - Burns, Janice M_3/21/2005t
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STATE OF INDIA\'A )
)SS:
COUNTY OF GIBSON )
IN RE: THE MARRIAGE OF
JANICE Mr`BIIRL�1�
Petitioner,
and
DENNIS R.�B�RI�S
Respondent.
IN THE GIBSON CIRCUIT COURT
►�1I�I.���17�i
CAUSE NO. 26C01-O501-DR-0001
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PROPERTY SETTLEMENT AGREEMENT r l��t CO`�rt
THIS PROPERTY SETTLEMENT AGREEiviENT, made and entered into by and
between Janice M. Burns (hereinafter referred to as "�i�ife") and Dennis R. Bums (hereinafter
referred to as "Husband"),
WITNESSETH:
�1'HEREAS, the parties hereto are Husband and Wife and are parties to a pending
Dissolution of Marriage action in the Gibson Circuit Court which action �vas filed on January >,
200�;and,
�VHEREAS, the parties have accumulated certain propem� and debts in their marriage
and do desire to and have reached agreement concerning disposition of said property and said
debts:
NO�V THEREFORE, in consideration of the mutual promises and covenants herein it is
agreed to by the parties as follows:
1. That the «'ife shall be declazed sole owner of certain personal property; namely,
bedroom suite, cedar chest, old sewing machine, rocking horse, recliner, washer and dryer, and
all personal property presently in her possession except that property which is othenvise and
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specifically named herein. The Husband may have use of the �ti�asher and dryer until such time
as the marital residence is sold.
2. That the Husband shall be declared sole o«�ner of ceRain personal property presently
in his possession except that propem� �ti�hich is othenvise and specifically named herein.
3. That the \Vife shall be dedared sole o���ner of the 2001 Pontiac and ���ill save and hold
the Husband harmless from any responsibility for payment of the lien indebtedness thereon.
4. That the Husband shall be declazed sole owner of the 2003 Pontiac and will save and
hold the Nife harmless from any responsibility for payment of the lien indebtedness thereon.
5. That the parties o«�n free and clear of any liens a 1994 GMC truck and the Husband
shall be declared sole owner of said vehicle.
6. That the parties o«m free and cleaz of any liens a four-wheeler «�hich the Husband
shall keep as his sole and exclusive property, and the sum of 51,000.00 shall be paid to \Vife
�vithin 120 da}�s for her interest in said vehicle.
7. That the parties o�vn free and clear of any liens t�vo motorcycles, and the \Vife shall be
declared o�vner of the Ka���asaki and the Husband shall be declared o�imer of the Honda.
8. That the Husband is participant in a 401-K Plan Countr}�mark Cooperati��e, LLP, plus
he is owner of an IR� Old \'ational Banl: Im�estment Sen�ices; and the \Vife shall be entitled to
one-half the value of both accounts as of the date of sepazation.
9. That the �'��ife shall be responsible for credit cazd indebtedness in her name, and the
Husband shall be responsible for credit card indebtedness in his name, and each shall hold spouse
hannless from any responsibilih� indebtedness.
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10. That each pazty shall pay the sum of $2,�00.00 to �Vife's father for a personal loan to
purchase carpet for marital residence. Each party shall make a diligent effort to pay said amount
within _ days hereof.
11. That the parties are o��ners of real property commonly l:nown as R.R. 4; Princeton,
Indiana, and said real property shall be sold with the proceeds divided equally between the
parties. The parties a�ree that the Husband shall have possession of mazital residence and shall
keep current the mortgage payments, ta�es, insurance and maintenance thereon, until sold. If the
propertv has not sold �vithin six months, then the Husband shall mal:e every reasonable effort to
refinance the home in his name alone, and he shall then pay to R'ife one-half of the difference
bet�veen the vafue of the property and the indebtedness of the mortgage loan o«�ed by the parties
prior to refinance. The value of the real estate must be mutually a�reed upon; if the parties
cannot aeree, then the property shall be appraised by an established and independent source.
Should the parties seek their o��n appraisal by separate, independent appraisers, and should the
value be different, then the value shall be established by using the average of both appraisals.
12. That both parties shall sign such deeds, certificates of title, or other instruments
necessarv to cam� out the terms of this Aereement.
IN �l'ITI�'ESS �VHEREOF, the parties have hereunto executed this Propert}� Settlement
Agreement on the dates as shown below.
DATED
3-/�-OS _ � ���a
NICE Nf. BURI`'S
DATED: 3—��—��
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DEN�IIS R. BURi�IS