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them which may be due for any years prior to
1972, and the Wife shall endorse any such
drafts upon request of the Husband.
Pursuant to the Agreement, petitioner received a $90,000
equity interest in the marital residence, various items of
household furnishings, beneficiary rights in a $200,000 insurance
policy in trust (that was later canceled), and a right to use a
Florida condominium owned by Mr. Rangos in exchange for her
interests in Mr. Rangos' various businesses and real estate.
At the time the Agreement was signed, Mr. Rangos' net worth
was between $2-3 million. Mr. Rangos owned all the stock of U.S.
Utilities Service Co. (U.S. Utilities), a Pennsylvania corporation.
On February 1, 1972, U.S. Utilities hired petitioner as a public
relations consultant for 5 years. As compensation, U.S. Utilities
paid petitioner $1,041 per month. This payment was considered one-
half of the alimony payment she was to receive from Mr. Rangos
pursuant to Paragraph 11 of the Agreement. Although petitioner
only worked for U.S. Utilities until February 1973, she continued
receiving the $1,041 payment from the company every month
thereafter.
Both parties were represented by counsel in the negotiations
and execution of the Agreement. Mr. Rangos' attorney drafted the
Agreement.
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