- 45 - essary portion of the proceeds from the life insurance policy maintained on E.E. Stone, III, by Stone Manufacturing Co. shall be reserved and used by Stone Manufacturing Co. to consumate [sic] the purchase of the Cherrydale house. [I.] CEDAR MOUNTAIN DIVISION The division of Cedar Mountain for purposes of the Chart and the Mary Fra- ser Limited Partnership shall be as follows: (1) The parties agree to the two-page Cedar Mountain division map * * * which has been signed by * * * [the children]. * * * (2) The deeds to 1,054.415 acres from E.E. Stone, III, to the Mary Fraser Limited Partnership will reserve for the 1,054.415-acre tract a * * * qualified road right-of-way and utility permanent easements through the adjacent 582.672-acre Life Estate Tract following the route of the existing roads * * *. (3) A provision shall be included in the Family Settlement Agreement acknowledging the Children’s agree- ment that the Mary Fraser Limited Partnership shall receive the Mary Fraser Parcel, and that the remain- der interest in the Life Estate Parcel shall be given to Ann [sic] Logan Ministries, Inc., a 501(c)(3) charitable organization, with E.E. Stone, III, retaining a life estate in the Life Estate Parcel. * * * * * * * L. MAINTENANCE OF PARENTS The four Children, shall jointly bear the responsibility for the financial mainte- nance of E.E. Stone, III and Allene W. Stone during their lives, utilizing the assetsPage: Previous 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 Next
Last modified: May 25, 2011