HomeMy WebLinkAbout0358 6. Life Insurance Coverage
The Husband shall make the parties' minor children the
irrevocable beneficiaries of his present life insurance policies until
all three children shall have attained 18 years of aRe, and•''shall
im~nediately notify all respective insurance companies in this regard
so that any and all changes in beneficiaries on said policies can
be made. In the event that the Husband does not have such insurance,
he shall obtain life insurance on his life in the minimum amount of
$20.000.00. The children shall be designated as irrevocable benefic-
iaries of said policy or policies, and the obligation to maintain
• this insurance shall continue until all three children shall have
attafned 18 years of age.
During the life of this:Agreement, the Husband shall keep
the aforementioned insurance policies in full force and effect, pay
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all dues~ premiums and assessments promptly when due and furnish
evidence that said policies are in fu11 force and effect to the Wife
upon her request. The Husband during the life of this Agreement shall
not have the power to borrow against or pled$e the policies or to
surrender them. After the Husband's obligation hereunder shall cease,
the Wife and children shall have the right to continue said insurance
~ without cost to the Husband.
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; 7. Personal Prooerty and Household Furnishings
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' Zhe parties hereto have divided the furniture, household
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f furnishings and all articles of personal property, clothing and
accessories, to their mutual satisfaction. Henceforth, each of the ?
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parties shall own~ have and enjoy independent of any claim or right
of the other party, all items of personal property of every kind,
nature and description, and wheresoever situate, which are now
owned or held by him or her, with full right to dispose of the same. `
Personal Property listed on Schedule A, which is attached
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~ hereto and incorpo~ated by reference herein is hereby declared to
~ be the sole property of the Wife. The Husband hereby quitclaims in
~ favor of the Wife any right, title or interest he may have in this
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