Tibor Guenther Horwath and Christel Horwath - Page 8

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          tor’s Release and Assignment” (1997 release) with respect to the            
          1992 contract.  The 1997 release provided in pertinent part:                
                    Pursuant to the terms of Contract No. DASG60-92-C-                
               0069 [1992 contract] and in consideration of the sum of                
               One Million Fourty [sic] Nine Thousand One Hundred                     
               Seventeen Dollars and NO cents ($1,049,117.00) which                   
               has been or is to be paid under said contract with TG&C                
               Associates, Inc. (hereinafter called “the Contractor”)                 
               or its assignees, if any, the Contractor, upon payment                 
               of said sum by the UNITED STATES OF AMERICA (hereinaf-                 
               ter called “the Government”), does hereby:                             
                         1.   Remise, release and discharge the                       
                    Government, its officers, agents, and employ-                     
                    ees of or from all liabilities, obligations,                      
                    claims, and demands, whatsoever, under or                         
                    arising from the Contract * * *                                   
               At the time the 1992 contract was terminated, the computer             
          simulator was the property of TGC.  During the taxable years at             
          issue and continuing until the time of trial in this case, the              
          computer simulator was located in the basement of petitioners’              
          residence.                                                                  
               On February 18, 1998, TGC filed a formal complaint with the            
          Missile Defense Command concerning improper disclosure of TGC’s             
          proprietary data.                                                           
               On May 27, 1998, SDC notified TGC by letter that it was                
          terminating the 1996 contract pursuant to that contract’s limita-           
          tion of funds clause.  As of that date, SDC had paid TGC only               
          $1,015,805 of the original contract amount of $8,169,616.                   
               On March 31, 1999, TGC entered into a contract (1999 con-              
          tract) with the United States Army Armament Research, Develop-              






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