Your file consists of three regions. The region before the marker (0), the region/line containing the marker (1) and the region following the marker (2). This little script does the job producing two text files (file1, file2) and removing the marker. Quick and dirty.
MARKER='<-->' # change to your marker
region=0
while read line
do
[[ $region == 1 ]] && region=2
if [[ -n $(echo $line | grep "$MARKER") ]] # line containing marker
then
region=1
echo $line | sed s/"$MARKER".*//g >> file1
echo $line | sed s/.*"$MARKER"//g >> file2
fi
[[ $region == 0 ]] && echo $line >> file1 # lines before marker
[[ $region == 2 ]] && echo $line >> file2 # lines following marker
done < inputfile # change to your input file
And the obligatory one-liner:
MARKER='<-->'; region=0; while read line; do [[ $region == 1 ]] && region=2; if [[ -n $(echo $line | grep "$MARKER") ]]; then region=1; echo $line | sed s/"$MARKER".*//g >> file1; echo $line | sed s/.*"$MARKER"//g >> file2; fi; [[ $region == 0 ]] && echo $line >> file1; [[ $region == 2 ]] && echo $line >> file2; done < inputfile