11/19/2008 Receipt
DANNY L. KOLHAGE
CLERK OF THE CIRCUIT COURT
DATE:
December 4, 2008
TO:
Norma Kula, Director
Monroe County Libraries
Pamela G. HanC~c.
FROM:
At the November 19, 2008 Board of County Commissioner's meeting the Board granted
approval and authorized execution of the "Receipt of Assets and Release of Trustee" for the
accounting for the Martha W. Sauer Living Trust, of which the Monroe County Public Library in
Key West was named a beneficiary.
Enclosed are two duplicate originals of the above-mentioned for your handling. Should
you have any questions please do not hesitate to contact our office.
cc: County Attorney
Finan,;e
File/
RECEIPT OF ASSETS AND RELEASE OF TRUSTEE
Partial Distribution to
Monroe County Public Library - May Hill Russell Branch
Assets of the Martha W. Sauer Living Trust dated December 29, 2000
The Monroe County Board of County Commissioners, on behalf of the Monroe County
Library - May Hill Russell Branch located at 700 Fleming St., Key West, Florida, hereby
acknowledges having reviewed the Accounting for the Martha W. Sauer Living Trust dated
December 29, 2000.
The: undersigned hereby further acknowledges receipt of TEN THOUSAND DOLLARS
($10,000.00), representing the Monroe County Public Library - May Hill Russell Branch's
partial share of the Martha W. Sauer Living Trust dated December 29, 2000.
Tht~ undersigned further acknowledges that Mary P. Draper, the Trustee, retained an
administrative reserve fund in the amount of ONE HUNDRED THOUSAND DOLLARS
($100,000.00) for estimated attorneys' fees, Trustee's fees and Accounting fees. The final
distribution of the administrative reserve fund shall be made by the Trustee within sixty (60)
days ofre<:eipt of this Acceptance from all beneficiaries of the Trust.
The undersigned hereby agrees to hold harmless any actions of the Trustee, its agents and
representatives, from the date of death of Martha W. Sauer (DOD November 20, 2005) to now,
with respect to the Monroe County Public Library - May Hill Russell Branch's share of the
Trust, properties, interests or any other item of any sort which has been administered by the
Trustee with respect to the Martha W. Sauer Living Trust dated December 29, 2000.
The undersigned hereby acknowledges that by signing this instrument on behalf of the
Monroe County Public Library - May Hill Russell Branch, it is forever relinquishing any right it
may have 110 seek damages or file claims of any sort whatsoever against the Trustee, its agents
and repres,:ntatives, for any matter or action related to the Martha W. Sauer Living Trust dated
;IfJte~~, 2008.
BOARD OF COUNTY COMMISSIONERS
OF MON COUNTY, FLORIDA
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