(1) Both parties agree to terminate the legal separation, that they desire to restore their status to legally married, and that they do so intelligently, voluntarily, and without duress, coercion, or undue influence.

(2) The parties acknowledge that on entry of the stipulated order terminating the decree of legal separation, the marital community will be reformed as if the parties married on the date of the termination order, and the legal separation no longer exists.

(3) The parties acknowledge that any property or debt awarded to either party as separate property or debt under the legal separation decree remains separate. The parties also acknowledge that any property acquired or debts incurred from the entry of the legal separation decree through the termination date remains the separate property of the acquiring party and the separate debt of the incurring party.

(4) The parties acknowledge that any property payments due from one party to the other under the legal separation decree are waived unless otherwise specified in the termination order.

(5) The parties acknowledge that any parenting orders entered in the legal separation decree under Chapter 4 of Title 25 of the Arizona Revised Statutes no longer apply.

(6) The parties acknowledge that any provisions for child support or spousal maintenance entered in the legal separation decree no longer apply, except for any sum owed to the State under A.R.S. § 46-407. Also, unless otherwise agreed, each party waives any claim for amounts that remain due while the support provisions under the legal separation decree were in effect.

(7) The parties acknowledge that the termination order does not impact the rights of creditors that may have relied on the terms of the legal separation decree.