Estate of Marcia P. Hoffman, deceased, Elisabeth Hoffman, Personal Representative - Page 4




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               Article IV, entitled “Alimony”, required Mr. Hoffman to pay            
          decedent, as permanent alimony, the annual sum of $300,000,                 
          payable bimonthly in equal installments of $12,500.  The combined           
          amount of the bimonthly installments, $25,000, was referred to as           
          the “INITIAL BASE MONTHLY ALIMONY AMOUNT.”  The payments                    
          commenced on January 1, 1992, and only the death of decedent or             
          Mr. Hoffman would act to terminate the alimony due.  The payments           
          to decedent were described as alimony for spousal support and               
          were intended by the parties to be taxable to decedent as income            
          and deductible by Mr. Hoffman for Federal income tax purposes.              
               Article VI, entitled “Equitable Division of Marital Estate”,           
          divided the existing marital property of decedent and Mr. Hoffman           
          and was intended to settle all issues regarding the marital                 
          property.  In addition to other obligations, Mr. Hoffman was                
          required to convey to decedent:  (1) One-half of his 55-percent             
          interest in Clubside Partnership (Clubside); (2) 100 percent of             
          the stock of Hoffman Associates, Inc. (Hoffman Associates), and a           
          loan receivable from Hoffman Associates; (3) 770 shares of stock            
          in Walden Lake, Inc. (WLI); and (4) 560 shares of stock in Sun              
          City Center, Inc. (SCC).                                                    
               Paragraph 6.6B of article VI provided for distributions to             
          decedent from WLI and SCC.  In the event that WLI and SCC did not           
          make the distributions by certain dates, Mr. Hoffman personally             
          guaranteed payment of specific amounts to decedent on or before             






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