Nury Ogsaen, )
Plaintiff ) NO.____________
) Divorce Settlement Agreement
vs. )
Werner Ogsaen )
Respondent )
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Settlement Agreement
Section 1- Intent
Paragraph 1: It is the intent of both parties to capture the spirit a friendly and amicable divorce between two long standing friends and married partners. It is further understood that both parties are long term residents of California and have property to divide, including two income producing business, several automobiles and two homes. As such, this agreement captures the spirit of an amicable divorce while ensuring that the business model or plan establishes a fair and equitable business partnership. Additionally, both parties, by affixing their signatures on the last page of this document, agree that they have completely and voluntarily accepted the terms of this agreement and will do their best to fulfill this document’s requirements.
Section 2 - Basic Concepts
Paragraph 2: Both parties agree to the following settlement concepts. The concepts are outlined in more detail throughout this document. The agreement’s basic concepts are:
a) Werner will hold the deed to the 4916 J Parkway house.
b) The Ogsaen’s own several homes. When any of the homes sell, the profit (or loss) will be divided equally (50/50) between both parties.
c) Nury will hold the deed to the Dipper Way property.
d) Both parties have agreed to default on 9352 Trendholm property. The losses for the property will be divided between the two parties. The default on this property began in April 2009.
e) It is understood that both parties each have a house full of “furnishings, decorations and personal belongings”. Both parties agree that all furnishings, decorations and personal belongings currently in possession of each party, will remain with said party.
f) Automobiles owned by the Ogsaens will be transferred and titled as follows:
i) 2002 Toyota Celica to be transferred to Janelle Ogsaen, the couples’ eldest daughter. Transfer date will take place within 60 days of the signing of this document and acceptance by the court.
ii) Ownership of the 2004 Nissan Qwest will be transferred to Nury Ogsaen. Transfer date will take place within 60 days of the signing of this document and acceptance by the court.
iii) Ownership of 1992 Dodge Caravan will remain with Werner Ogsaen
iv) 2006 Toyota Van will remain with Werner Ogsaen.
v) Ownership of the Nissan Pickup 1984 will be transferred to Werner Ogsaen. Transfer date will take place within 60 days of the signing of this document and acceptance by the court.
g) Income from the business will be divided as outlined below in section 6 (six) .
h) Both parties agree that they owe taxes to Federal and State authorities. It is agreed by both parties that whatever the tax liability is for any year up until the conclusion of this divorce, both parties will split the outstanding balance equally, 50/50.
i) Income from Families First belongs to Nury Ogsaen (as outlined below)
j) Bills: Each party stipulates that they will is responsible for paying their own bills as outlined below.
Section 3 – Home Title Transfers & Mortgage Payments
Paragraph 3: It is understood by both parties that the J Parkway mortgage will be paid for personally by Werner out of his personal funds as long as he is in business. Once the business closes or ends, then the mortgage will be paid for by both parties.
Paragraph 4: It is understood by both parties that the Dipper Way mortgage, as well as the property’s insurance and taxes, will be paid for by Werner. The money will come from Nury’s monthly disbursements. In other words, out of the profit that Nury sees from the income outlined in section 6 (below), the monthly mortgage payment will be deducted to pay for the Dipper Way mortgage.
Paragraph 5: It is understood that both parties will own ½ interests in the home, equally and as partners, and as such, when the properties are sold, they will split the profits (or losses) equally.
Section 4 – Automobiles – Ownerships, Transfers & Insurance
Paragraph 6: Automobiles owned by the Ogsaen will be owned as follows:
i) 2002 Toyota Celica to be transferred to Janelle Ogsaen, the couples’ eldest daughter. Transfer date is within 60 days of the approval of this agreement by the court.
ii) Ownership of the 2004 Nissan Qwest will be transferred to Nury Ogsaen. Transfer date is within 60 days of the approval of this agreement by the court.
iii) Ownership of 1992 Dodge Caravan will remain with Werner Ogsaen
iv) 2006 Toyota Van will remain with Werner Ogsaen.
v) Ownership of the Nissan Pickup 1984 will be transferred to Werner Ogsaen.
Paragraph 7: The transfer fees for the automobiles shall be paid for by the respective owner.
Section 5 – Taxes
Paragraph 8: Both parties understand that they owe taxes for the years 2009 or 2010. The exact amount owed is unknown, but is estimated to be about $5,000 combined for all years.
Paragraph 9: All taxes owed by the Ogsaens for these time periods, will be paid for equally (50/50) by both parties. Taxes starting in 2011 and on will apply according to paragraph 16, the income division structure.
Paragraph 10: In order to pay for the taxes, Nury gives Werner the authority to withdraw an agreed upon amount, $100 (one hundred dollars) per month from her earnings to pay off the tax debts. He will also be able to withdraw any monies necessary to pay for the home’s insurance.
Paragraph 11: An exact total of the complete amount owed, with a payment schedule, will be determined within ninety days of the signing of this document. The total amount will then be split in ½ (half) by the couple and paid for equally over an established and agreed upon time period.
Section 6 - Income Division(s)
Paragraph 12: Both parties are in the Foster Home business since 1983.
Paragraph 13: Both businesses are active and profitable.
Paragraph 14: Both parties understand and agree that they are entitled to pay for their bills while earning a respectable living.
Paragraph 15: Werner and Nury agree that they are entitled to a fair salary/wage for the operation of their businesses.
Paragraph 16: Werner and Nury agree to the following payment of income:
- A profit from the income of the Parkway facility/business belongs to Nury and shall not exceed 30% of the business profit.
- For the first 730 days after the divorce (years one and two), Nury will be paid a maximum of 6% per client, per month to a maximum total of $3,540.
- For the next 1030 days (staring on the first day of year 3), Nury will be paid a maximum of 5% per client, per month, to a maximum of $3,840 per month.
- For the next 730 days (years 5 & 6), Nury will be paid a maximum of 4% per client, per month, for a maximum total of $4,100.
- The agreement outlined in this document is good for 2590 (two thousand, five hundred and ninety days) consecutive days. On the 2591 (two thousand, five hundred and ninety-first day), this financial arrangement automatically dissolves.
Paragraph 17: All income from different home care business belongs to Nury.
Paragraph 18: If the Parkway facility/business is sold or goes out of business, this agreement ends and all profits will be split by the two parties based on the current income structure.
Paragraph 19: Werner reserves the right to place his name, or any other name, on the Parkway facility/business Care Home Facility license. When he does, Werner has the option to either drop Nury’s name or to keep both names on the License. Once this happens, Werner has the right to reduce Nury’s income based on the percentage amount the state decreases its support for the business, or the decrease in profit amount from the business. The amount in both instances will be split 50/50 between the two parties. For example, if the loss in revenue equals 5% (five percent) then each party will lose 2.5% (two and a half percent) in revenue.
Paragraph 20: If one party decides to end the business or sell their shares of the business, they must provide the other party with the right of first refusal to purchase said shares of the business.
Section 7 – Outstanding Bills & Responsibility
Paragraph 21: Werner and Nury agree that they have outstanding bills.
Paragraph 22: Werner and Nury have taken an inventory and divided up the outstanding bills.
Paragraph 23: Werner and Nury have categorized the bills into personal and business costs and as such, have agreed to pay the bills as follows:
Paragraph 24: Werner and Nury agree that WERNER is responsible for the following personal bills:
Loan Monthly Total owed
· Wells Fargo $150 $2,200
· Capital One* $125 $3100
· Shell $100 $1,100
· Chase $157 $6930
· Sutter Medical $50 $293
· VAMU?Chase $259 $4221
· IRS $200 $1900
· Van Toyota 2002 $600 $5200
· Geico $314
· Verizon $100
· Van – Toyota $600 $16100
(* Note: Card reference number – last 4 digits – 7203)
Paragraph 25: Werner and Nury agree that WERNER is responsible for the following business oriented bills related to the J Parkway business/property:
Loan Monthly
· SMUD $487
· Sac County $160
· ATT $129
· KHMSI – Mortgage $2479
· Business bond $150
· Direct TV $185
· PG & E $80
· California Water $85
Paragraph 26: Werner and Nury agree that NURY is responsible for the following personal bills:
Nury is responsible for the following bills:
Loan Monthly Total owed
· Sears ` $150 $5619.00
· Capitol One $100 $2100
· Nordstrom $170 $1600
· Sears $139 $1400
· American Express $264 $16100
· Geico $314
· Verizon $100
Paragraph 27: Werner and Nury agree that NURY is responsible for the following business oriented bills related to the Dipper Way Business:
Loan Monthly
· SMUD $160
· Sac County Utilities $160
· City of Elk Grove $98
· Homeowners Ins. $285
· Comcast/phone $74
· Direct TV $90
· PGE $80
Section 8 – Misc.
Paragraph 28: If either party decides that they want to sell their interest in the business, they must first provide the other party with the right of first refusal to purchase their share.
Paragraph 29: If one party denies the right of first refusal, the other party may then sell their interests to another party, without the consent of the other party.
Paragraph 30: If the business is sold, the parties will split the profits based on the current income structure.
Paragraph 31: Any additional business expenses at the Parkway Facility related to labor, staffing or outside consulting will be covered by parties on a percentage basis related to paragraph 16.
Section 9 – License
Paragraph 32: Werner and Nury have been in the business of providing home care services for over 28 years. As such, as a married couple, Nury’s name was placed on the business license. Both parties recognize that any changes in the license affects their income. As such, Nury has agreed to not only keep her license “up-to-date”, but also to keep her name on said license for as long as this agreement is in effect in accordance with paragraph 18.
Section 10 – Requests
Paragraph 33: Werner and Nury request that the court accept this Settlement Agreement and grant the divorce at their earliest opportunity.
Dated: _________________.
By: _________________________________________________
Werner Osaegon, Respondent, in Pro Per
Dated: _________________.
By: _________________________________________________
Nury Osaegon, Plaintiff
