Estate of Eugene E. Stone, III, Deceased, C. Rivers Stone, E.E. Stone, IV, Mary Stone Fraser & Rosalie Stone Morris, Co-Personal Representatives - Page 34

                                       - 19 -                                         
                         death, the remaining E.E. Stone, III/Allene                  
                         W. Stone estate after estate taxes would be                  
                         distributed equally to the four children or                  
                         that Child’s designated beneficiaries.                       
                    C.   FAMILY SETTLEMENT AGREEMENT                                  
                              The Children and Grandchildren (or their                
                         guardians ad litem) and the Stone Foundation                 
                         (if necessary) shall execute a Family Settle-                
                         ment Agreement (pursuant to S.C. Code � 62-3-                
                         1101 et seq.) which provides for a division                  
                         inter se [sic], in the manner set forth in *                 
                         * * [other parts of this agreement] in the                   
                         event E.E. Stone, III, or Allene W. Stone                    
                         fail to change or maintain their Wills in the                
                         same manner.                                                 
                  *       *       *       *       *       *       *                   
                    F.   POWERS OF ATTORNEY                                           
                              All existing powers of attorney for E.E.                
                         Stone, III and Allene W. Stone will be re-                   
                         voked and new, limited, permanent powers of                  
                         attorney executed that have been pre-approved                
                         by all four children to provide management of                
                         parents’ monthly cash needs, management of                   
                         the maintenance of houses, cars, health care,                
                         etc., of both parents.  All accounts relative                
                         to the parents will be audited by the Trust-                 
                         ees’ accounting firm.                                        
                  *       *       *       *       *       *       *                   
                    H.   ARBITRATION                                                  
                              The Children shall use their best efforts to            
                         agree on the allocation of the property of the               
                         estate of E.E. Stone, III and Allene W. Stone.               
                         It is agreed that Rivers Stone shall receive                 
                         Piney Mountain from the estate of E.E. Stone,                
                         III and Allene W. Stone provided, however,                   
                         Rivers Stone shall not be entitled to receive                
                         more than one-fourth of the total value of                   
                         the net estates after estate taxes.                          
                         It is further agreed that Mary Fraser shall                  
                         receive one-half (�) of the Cedar Mountain                   
                         property from the estate of E.E. Stone, III                  

Page:  Previous  9  10  11  12  13  14  15  16  17  18  19  20  21  22  23  24  25  26  27  28  Next

Last modified: May 25, 2011