11/17/2010 AgreementDANNY L. KOLHA GE
CLERK OF THE CIRCUIT COURT
DATE: December 1, 2010
TO: Norma Kula, Director
Monroe County Libraries
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FROM: Pamela G. Hanc k . C.
At the November 17, 2010, Board of County Commissioner's meeting, the Board granted
approval to accept funds allocated to the Monroe County Public Library through the last will and
testament of Margo Golan and approved the Mayor to sign all related documents - Waiver of
Claims and Release of Trustee.
Enclosed is a duplicate original of the above -mentioned for your handling. Should you
have any questions, please do not hesitate to contact our office.
cc: County Attorney
Finance
File /
WAIVER OF CLAIMS AND RELEASE OF TRUSTEE
WHEREAS, Margo Golan died on October 15, 1986; and
WHEREAS, Article VIII of Margo Golan's Last Will and Testament provided for the
creation of a Charitable Remainder Unitrust within the meaning of Section 662(d)(2) of the
Internal Revenue Code (the "CRUT"), and the CRUT was established and funded after the
administration of Margo Golan's estate, and
WHEREAS, Scott G. Oropeza took over as Trustee of the CRUT in 1992, and has
continuously served as sole Trustee of the CRUT ever since (the "Trustee"); and
WHEREAS, the CRUT was paying an Eight Percent (8.0%) unitrust payment to Kim
Norton from the time of the CRUT's creation through the death of Kim Norton; and
WHEREAS, upon the death of Kim Norton, Forty Percent (40.0%) of the remaining
balance of the CRUT is to be paid to the Monroe County Public Library, a division of Monroe
County, Florida, a political subdivision of the State of Florida to be used exclusively for future
capital expenditures, Forty Percent (40.0%) of the remaining balance of the CRUT is to be paid
to the Key West Art and Historical Society, Inc., a Florida Not for Profit Corporation for to
expand the art collection of the Society, and Twenty Percent (20.0%) of the remaining balance of
the CRUT is to be paid to the Key West Art and Historical Society, Inc., a Florida Not for Profit
Corporation for exclusively for future capital expenditures (each hereafter a "Remainder
Beneficiary" and collectively the "Remainder Beneficiaries"); and
WHEREAS, pursuant to Fla. Stat. s. 736.08135, the Remainder Beneficiaries were
entitled to receive annual accountings and a final accounting setting forth among other things the
manner in which the assets in the CRUT were invested, a description and value of the assets in
the CRUT, the cash and property transactions that have occurred in the CRUT, the expenses of
the CRUT, including Trustee's fees, legal fees and accounting fees incurred by the CRUT, and
distributions from the CRUT; and
WHEREAS, the Trustee has provided the Remainder Beneficiaries with substantial
information regarding the assets of the CRUT and its administration since the Trustee assumed
office; and
WHEREAS, the Remainder Beneficiaries are satisfied that the Trustee has administered
the CRUT prudently, efficiently and has not breached his fiduciary duty, and in the interest of
time, desire to waive their rights to receive annual accountings and a final accounting; and
WHEREAS, the Remainder Beneficiaries understand and agree that, but for this Waiver
and Release, they would have certain rights under Chapter 736 of the Florida Statutes to receive
annual accountings and a final accounting and to bring an action or actions against the Trustee
for negligence, breach of fiduciary duty and/or breach of trust.
NOW THEREFORE, in consideration of Ten Dollars ($10.00) and other good and
valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the
undersigned, a Residuary Beneficiary of the CRUT, does hereby acknowledge complete and full
receipt of the entire share of the CRUT to which the undersigned is entitled, and does hereby, for
itself and its heirs and assigns forever, waive and release any and all claims, demands, or causes
of action, of any nature whatsoever, that the undersigned may have against Scott G. Oropeza,
individually and as Trustee of the Margo Golan Charitable Remainder Unitrust, arising from the
beginning of time through the date hereof and does hereby consent to the discharge of Scott G.
Oropeza as Trustee of the CRUT without further notice or accounting to the undersigned.
IN WITNESS WHEREOF, this Waiver of Claims and Release of Trustee has been
executed this/744 day of ,,,,bGr , 2010.
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By:
Deputy Clerk
BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY,FLORIDA
MONROE COUNTY PUBLIC LIBRARY,
a Division of Monroe County, a Political Subdivision of
the State of Florida
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CHRISTINE M. LINIBERT-UA
ASSISTANT CO TY i0 T 0Fa' i =Y
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