Settlement between surviving members of family partnership and spouse of deceased partner. A, B and C are brothers and sisters of W, who on _________, 19__, died intestate. H is the surviving spouse of W, and A, B, C and W were partners in the ownership and operation of certain real and personal property before and at the death of W, which partnership property originated from the estate of F, who died intestate on _________, 19__. A, B, C and H now desire to settle their respective interests and rights in the partnership property, namely: [description of property]. In consideration of the promises and agreements of A, B and C to be kept and performed by them, H renounces, disclaims and acknowledges, that he [she] has no claim in or to any part or share of the property described and that it is declared to be the property of A, B and C, their heirs and administrators, in such proportion as may be determined between themselves and that he [she] will not assert or attempt to assert any claim to any part. In consideration of the promises made by H, A, B and C, for themselves, their heirs and administrators, covenant and agree: 1. That H, during the balance of his [her] natural life, may occupy the real premises at _________ without the payment of any rental. 2. That A, B and C, during the balance of the natural life of H, will pay or cause to be paid to him [her] annually a sum equal to _________ of the net proceeds of the income of the property described. 3. That A, B and C, in the event of the one-fourth share in and to the above property owned by W causes the estate to exceed the statutory allowance to a spouse without the payment of an estate or inheritance tax, will pay or cause to be paid the estate or inheritance tax or both without cost to H. 4. In the event there should be any state or federal taxes due on this transaction, A, B and C, for themselves, their heirs and administrators, agree to save H harmless. Each of the parties has entered into the above agreement with a full and complete understanding of his or her legal rights in and to the subject matter mentioned and has executed this agreement freely and voluntarily without coercion or undue influence of any kind or nature.