part two
DEBTS
8. Except as otherwise provided in this Agreement, such debts will be and remain the debts of the party described and the other party will have no financial obligations with respect to paying back the debts unless either party seeks redress from the court to invalidate this agreement then either party will be entitled to the full debt.
9. Unless a particular debt is documented as being owed by both parties, the following types of debts will not be deemed as shared debts:
a. any debts already owing by one party at the date of execution of this Agreement.
b. Any future debts where both names are listed on such agreement or instrument or otherwise. Since there is a non commingle provision within this agreement. Any future debts and property are the sole responsibility of the individual with the only exception of Tax debts and liabilities that are payable to the Federal Government or State Tax Board.
10. In the event of a separation, if commingled each party will be financially responsible for 50% of any jointly-acquired or jointly-held debts, regardless of the initial or ongoing proportion of each party�s borrowed amount, unless the parties otherwise agree in writing thereafter.
CHILDREN
11. The parties further acknowledge that in the event of a separation, any rights and obligations of the parties relating to the children of the parties, including the issues of child support, custody and access, will be governed by Federal laws and/or the laws of the State of California.
12. The parties recognize the authority of the court to determine what arrangements are in the best interests of the children, and understand that court orders may affect the arrangement of the parties as stated in this Agreement.
SUPPORT
13. In the event that there is a separation of the parties, Neither party will be entitled to spousal support, alimony, or putative damages. In order to form a better marriage both parties agree that it is in the best interest of their marriage to not further burden either party in the event of annulment, dissolution or divorce. In addition any equitable relief governed by the laws of California shall include a copy of this agreement and shall be considered as a defacto waiver of interest or ownership or claim to one another.
(a) For purposes of this agreement Spousal Support is defined as any real money to be exchanged for the benefit of the other. Which will lawfully include money in the form of income earned by either party, property, or other convertible instruments including bank accounts, pensions, or interests earned. Such Support is waved by both parties.
(b)Both parties agree to waive alimony, palimony, or any other avenue in which to gain support from the other with the exception of support of a child, as it is defined under California law. This waiver can only be terminated by both parties agreement in writing. In the event of a child support under this section shall only be interpreted to mean support in the financial obligation of one party to the other on a equitable award that a court may award to make the parties whole for the purpose of child rearing. Such waiver has been thoroughly explained to both parties and both parties have been made aware fully that they have no right to any form of financial support of the other in the event of nullity, dissolution, or divorce or otherwise separation from the other. This includes any form of Temporary Support pending a final order in the event of divorce, annulment or dissolution. Such support is waived by both parties.
14. The parties realize that their respective financial circumstances may be altered in the future by changes in their health, the cost of living, their employment, their marital status, the breakdown of their relationship, or otherwise. No such changes shall give either party the right to seek additional support under any legislation, Federal or State. It is understood by each party that this Agreement represents a final disposition of all maintenance and support issues between them.
ESTATES AND TESTAMENTARY DISPOSITION
15. So long as the parties are together at the time of death of one of the parties, the parties desire to grant each other the following specific rights and release each other from all other claims and rights they may afterward acquire as a result of their cohabitation:
a. rights to death or survivor benefits under any government or employer pension plan.
whether by way of present or future legislation, Federal or State, or under the law of any jurisdiction.
16. Nothing in this Agreement limits or affects either party�s right to make specific or general gifts or bequests to the other party pursuant to any will or testamentary disposition in effect at the time of death of the deceased party.
17. Any employee IRA, 401K, or other employment related retirement fund shall be distributed to the other party only in the event of the death of one party. In the event of dissolution of marriage, annulment, or divorce both parties agree that they will not seek the others employment benefits.
SEVERABILITY
18. Should any portion of this Agreement be held by a court of law to be invalid, unenforceable, or void, such holding will not have the effect of invalidating or voiding the remainder of this Agreement, and the parties agree that the portion so held to be invalid, unenforceable, or void, will be deemed amended, reduced in scope, or otherwise stricken only to the extent required for purposes of validity and enforcement in the jurisdiction of such holding.
INTENTION OF THE PARTIES
19. Notwithstanding that the parties acknowledge and agree that their circumstances at the execution of this Agreement may change for many reasons, including but without limiting the generality of the foregoing, the passage of years, it is nonetheless their intention to be bound strictly by the terms of this Agreement at all times.
DUTY OF GOOD FAITH
20. This Agreement creates a fiduciary relationship between the parties in which each party agrees to act with the utmost of good faith and fair dealing toward the other in all aspects of this Agreement.
FURTHER DOCUMENTATION
21. The parties agree to provide and execute such further documentation as may be reasonably required to give full force and effect to each term of this Agreement.
TITLE/HEADINGS
22. The headings of this Agreement form no part of it, and will be deemed to have been inserted for convenience only.
ENUREMENT
23. This Agreement will be binding upon and will enure to the benefit of the parties, their respective heirs, executors, administrators, and assigns.
GOVERNING LAW
24. The laws of the State of California will govern the interpretation of this agreement, and the status, ownership, and division of property between the parties wherever either or both of them may from time to time reside. In the event there is a future conflict arising from this contract, the date of such agreement shall serve as the governing body for purposes of litigation.
TERMINATION OR AMENDMENT
25. This Agreement may only be terminated or amended by the parties in writing signed by both of them.
ORIGINAL AGREEMENT NOT REQUIRED
26. In the event this agreement is lost, stolen, removed, altered, or otherwise unavailable a copy of agreement shall serve as an original document. Which could include a photocopy stored in digital format, microfiche, or any other medium. BOTH parties agree that they shall retain a copy of this original agreement. IN the event there is a conflict which arises, BOTH parties agree that the WITNESS shall retain a copy of AGREEMENT and shall testify to its authenticity as IT was witness before him or her. BOTH parties waive notary.
IN WITNESS WHEREOF the parties have hereunto set their hands and seals as of the day and year first written above. BOTH parties agree they have read, understand, the above agreement. Further BOTH parties agree that this is legally binding on both parties. In the event that any of this agreement is held invalid under the laws of California, then the remaining part of the contract is still valid. BOTH parties agree they are of sound mind and that they enter this agreement freely without duress, influence, or other mitigating factors that may have compelled them to sign this agreement. BOTH parties have produced a copy of their IDENTIFICATION and has been satisfied to the WITNESS.