HomeMy WebLinkAbout2982 j
2. Should t ~ Former Wife sell the two bedroom
condominium provided for in Paragraph 4 of the Property
Settlement Agreement executed October 31, 1977, between the
parties, then the Former Husband shall continue to make
monthly payments of Two Hundred Fifty-Two Dollars ($252)
directly to the Former Wife for a term equal to the life of
the mortgage presently existing on the two bedroom condominium,
being Loan No. 051913 at Albany Savings of Kingston, New
York, with a principal balance as of December 31, 1979, of
$32,230.83. The Former Husband shall continue to be obligated
to maintain life insurance to insure the direct payments to
the Former Wife. If the Former Husband has not already done
so, he shall acquire adequate insurance immediately, equal
to the outstanding principal balance of the existing nortgage,
and in the interim, until such assurance is acquired his
estate shall be obligated to pay any outstanding principal
balance should the Former Husband die prior to the issuance
of said policy.
This provision contemplates the sale by the
Former Wife of her present condominium residence and the
purpose of this provision is to permit such sale and to
continue to provide for the monthly payments and security
C
therefor.
3. The Former Husband shall pay to the Former
Wife by separate check an additional Twenty-Five Dollars
($25) a month as a gasoline allowance required by the
t
initial agreement between the parties.
4. The Former Husband remains obligated to
provide the Former Wife medical hospitalization and surgical
insurance at the same level she would have enjoyed if she
had remained an employee of the Former ;-Iusband's company.
Y
Tnis insurance coverage shall be provided solely at the
expense of the Former Husband and not deducted from any
t r
f payments due the Former Wife. ~
5. The husband shall pay to the attorney for the
Former 4Jife, Eleanor Levingston Schockett, the total sum of
Five Thousand Five hundred Dollars ($5,500) which is full
- 2 - riK
9G01(~ PbGE~~', ~1~ a