Each party holds the other party unscathed, compensated and defends the other party against any liability arising from a delay in the payment of its respective obligations. However, the parties are aware that any promise to hold any debt, collective or not, is only an obligation between the parties themselves. This obligation does not apply to a commitment by a creditor or other third party with respect to a possible obligation that might exist between the parties and such a creditor. Therefore, the fact that one party has agreed to consider the other party unscathed from such a debt does not in any way prevent such a creditor or another third party from enforcing that obligation on either or both parties. Any such execution may, but is not limited to, legal action, reference to credit bureau reports, garrison and property tax, and the implementation of other enforcement mechanisms of this type. In the event that the party that was held unscathed from a debt entered an application for additional credit, the debts for which it was considered unscathed are likely to be considered by such a potential lender as part of that party`s total debt burden, despite the agreement without damage. As a result, a lender refuses to lend funds to that party. If a party has been held free of a debt related to the actual purchase of real estate (i.e. a mortgage), there may be additional restrictions imposed on it, since these debts are considered part of that party`s total debt. Among these additional restrictions, a lender`s refusal to lend funds for the purchase of real estate or otherwise may include that party`s inability to obtain certain types of mortgages, as well as other but not limited restrictions. In the event of disagreement on an issue between the parties, the parties first make reasonable efforts to resolve the dispute and make appropriate efforts. Except in an emergency, before a party takes legal action in respect of a dispute or amendment to these conditions in this Agreement, that party will attempt in good faith to bring the dispute or controversy to mediation. The husband and wife agree that this agreement should be governed and interpreted in accordance with the laws of the State of Florida.
Other debts: if there are debts whose payment is not specifically attributed to one party under this agreement, the party that incurred that debt is solely responsible for the payment of that debt and holds the other party unscathed. Even better, we recorded a link below to download a pdf version of this settlement contract, which was noted by one of our divorce attorneys with notes so you know exactly what everything means. We give a copy of the annotated version to our clients at the beginning of the divorce proceedings so that they can start to visualize where all this is going! CONSIDERING that we have all exercised good faith and have made fair, accurate and complete disclosure in all financial and wealth matters related to this matrimonial transaction agreement; This agreement establishes the agreement and agreement between the husband and wife with respect to the payment of war goods and finances and replaces all the prior discussions between us.