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HomeMy WebLinkAbout98-03430 I I -\ 'JI ~l I \i! \-i . ).. o ,,).. ~ v ~ i , ~i I i I i "I ~i ::::: " " o "'t CJ ',", ~J.., '" .\ <', ~ ~ I., .< ~ u . <::::) tl ~i ~I , I ....1 . ! I .~ I ,~i I <)1 1'\)1 .:>.,,1 I ~.J 1 6..ji ~' 1 , {\ I , \ \ Defendant(s) is Peter Paul McEvoy, .II'. a/k/a Peter 1', MeCovy a/k/a Paul McEvoy 41 N. Main Street P.O. Box 173 Mullica (-!ills, New Jersey 08062 Elizabeth.J. McEvoy 41 N. Main Street P.O. Box 173 Mullica Hills, Ncw Jersey 08062 Jonathan McEvoy 41 N. Main Street P.O. Box 173 Mullica Hills, New Jersey 08062 McNEES, WALLACE & NURICK By il~~ F. ~tephenson Matthes, Esquire Attorney 1.0. No_ 67408 100 Pine Street P. O. Box 1166 Harrisburg, I' A 17108-1166 (717) 232-8000 Dated: ~,7' '~d Attorneys for Plaintiff Dickinson College ( ( ~:: , I! ; I', fl."l~ " " , , , .. i , i , , I~ ' '!' 1 DICKINSON COLLEGE, Plaintiff IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA v. CIVIL ACTION - LAW PETER PAUL MCEVOY, JR. a/kla PETER P. MCCOVY, a1k1a PAUL MCEVOY and ELIZABETH J, MCEVOY, hlw and JONATHAN MCEVOY, Defendants NO. 98-3430 NOTICE OF INTENTION TO ENTER .JUDGMENT BY DEFAULT TO: PETER PAUL MCEVOY, JR. a/kla PETER P. MCCOVY, a/kla PAUL MCEVOY, DEFENDANT DATE OF NOTICE: August 6,1998 IMPORTANT NOTICE YOU ARE IN DEFAUL TBECAUSE YOU HAVE FAILED TO TAKE ACTION REQUIRED OF YOU IN TIllS CASE. UNLESS YOU ACT WITHIN TEN DAYS FROM THE DATE OF THIS NOTICE, A JUDGMENT MAY BE ENTERED AGAINST YOU ON PLAINTIFF'S COMPLAINT WITHOUT A HEARING, AS A RESULT, YOU MAY LOSE YOUR PROPERTY OR OTHER IMPORTANT RIGHTS. YOU SHOULD TAKE THIS NOTICE TO A LA WYER AT ONCE. IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE FOLLOWING OFFICE TO FIND OUT WHERE YOU CAN GET LEGAL HELP: Cumberland County Bar Association 2 Liberty Avenue Carlisle, Pennsylvania 17013-3387 Telephone: (717) 249-3166 McNEES, WALLACE & NURICK By /) t--~ F. S'lephenson Matthes, Esquire Attorney J.D. No. 67408 100 Pine Street P.O. Box 1166 Harrisburg, PA 17108-1166 (717) 232-8000 Attorneys for Plaintiff Dickinson College Dated: 8/ & I :,; ~, .-":"' () . , ~ (0 ~ ~ :j) ',-I :;". ::1 ~ C .~' ) :,:!l 'r-'. ~ ;"".) ..,rn c:- ,'r p - It) -,., --::t ',; -~l ...;; ;\\:J , 1--" " () , ~ -- , .,cn 0 r .. :,::! , j -- :..) :..J il' ...:) ?:::i - I:,:) -; ~ 0 ( -f-. ~ 1-. r-' '-' r;:: r ... ~ cOllllllcncing on Scptcmbcr 28, 19n and cnding on April 28, 191}4 and scvcnty two (72) cquallllonthly installmcnts ofScvcnly Six Dollars and Fourtccu Ccuts ($76.14) cCllnmcncing on May 28,1994. I I. Undcr thc tcrms oflhc Third Coutract, Parcnt. as "Buycr" agrccd to pay Dickinson Tcn Thousaud Dollars ($ I 0,000.00) wilh intcrcst al thc initial ratc of scvcn pcrccnt (7.0%) pCI' annum, in onc hundrcd sixtccn (I 16) cquallllonthly installmcnts ofOnc Hundrcd Eightccn Dollars and Eighty-cight Ccnts ($118.88) commcncing on Scptcmbcr 28, 1993. 12. Undcrthc terms oflhc Fourth Contract, Parcnt, as "Buycr" agrccd to pay Dickinson Two Thousand Fivc Hundrcd Dollars ($2,500.00) with intcrcst allhc initial ratc of clcvcn pcrcent (I 1.0%) pel' annum, in eight (8) cqual monthly installmcnts ofTwcnty Two Dollars and Ninety-two Ccnts ($22.92) commcncing on Scptembcr 28, 1993 and cnding on April 28, 1994 and scventy two (72) equal monthly installments of Forty Scven Dollars and Fifty-ninc Ccnts ($47.59) commcncing on May 28, 1994. 13. Scction" of the Conlract(s) providcs that "If a paymcnl is more than 15 days late, a sum equivalcnt to 5% of the latc payment (but no morc than $2.50 and notlcss than $1.00) may be chargcd." 14. Section VI, Paragraph 3(a) of the Contract(s) providcs that "Buyer shall bc decmed to have committed an 'Event of Default' of the Contracts upon the occurrcncc of any of the following: (a) failure to make any payment on 01' before thc datc it is due,..." 15. Section VI, Paragraph 4 ofthc Contract(s) provides thai ifan Evcnt of Default of the contract Occurs, and is not cured by thc Buyer pursuant to the Noticc of Def.1ull, Dickinson has "the right to dcclare all sums due on the contract to be immcdiately duc and payable." .. '..' ': ... ~ 16. Pctcr Paul McEvoy, Parcnt has dclilultcd ou thc COlllracl(s) by IitiJing to makc thc rcquircd monthly paymcnts on thc Contrnct(s) duc and owing to Dickinson sincc August 8, 1994 on thc First and Third Contracts and Novcmbcr 21, 1994 on thc Sccond and Fourth Contracts. 17. Notices wcrc forwardcd to r'arcnt informing him of his dclimlt and righlto curc such default. 18. Parent has failcd to curc such dcfaults. 19. Thercfore Dickinson has excrciscd its right to dcclarc all Sluns duc on the Contract(s) to be immediately due and payable. 20. The total amount which has becomc immcdiatcly duc and payablc 10 Dickinson by Parcnt, Peter Paul McEvoy pursuant to thc Contract(s) is Thirty Thrce Thousand Nine Hundred Thirty Five Dollars and Thirteen Ccnts ($33,935. I 3), which includcs principal in thc amount of Twenty Five Thousand Three Hundred Scventy Six Dollars and Sevcnty-thrce Cents ($25,376.73), intercst in the amount of Eight Thousand Five Hundrcd Twenty I'our Dollars and Ten Cents ($8,524. I 0), late fees in the amount of Thirty Four Dollars and Thirty Cents ($34.30), plus reasonable attorney's fecs and collection costs. WHEREI'ORE, Plaintiff Dickinson Collcgc dcmandsjudgment against Parent Peter Paul McEvoy, Jr. a/k/a Peter P. McCovy a/k/a Paul McEvoy inthc sum of Thirty Threc Thousand Nine Hundred Thirty Five Dollars and Thirteen Ccnts ($33,935.13), plus interest at the ratc indicated on the individual Contract(s), late fces, costs of suit, attorneys' fccs and collection costs. . ... " , 27. Elizabcth McEvoy, Parcnt has dcliuiltcd on thc Contract(s) by Iitiling to makc thc rcquircd monthly paymcnts on thc Contract(s) duc and owing to Dickinson sincc August 8, 1994 on thc Third COlllract and Novcmbcr 21, 1994 on thc Fourth Contract. 28. Notices wcrc forwardcd to Parcnt informing hcr ofhcr dclimlt and right to curc such def.1tilt. 29. Parcnt has Iitilcd to curc such dclimlts. 30. Thcrcfore Dickinson has cxerciscd its right to dcclarc all sums duc on the Contract(s) to bc immediately duc and payablc. 3 I. Thc total amount which has bccomc imlllcdiatcly duc and payablc to Dickinson by Parent, Elizabeth J. McEvoy pursuant to thc Contracl(s) is Filleen Thousand Ninc Hundred Thirty Eight Dollars and Fifty-four Cents ($15,938.54), which includcs principal inthc amount of Eleven Thousand Nine Hundred Eighty Three Dollars and Thirty-fivc Ccnts ($11,983.35), interest in the amount of Three Thousand Nine Hundred Thirty Eight Dollars and Thirty-ninc Cents ($3,938.39), late fees in thc amount of Sixteen Dollars and Eighty Cents ($16.80), plus reasonablc attorney's fees and collection costs. WHEREFORE, Plaintiff Dickinson Collcgc dcmandsjudgment against Parent Elizabeth J. McEvoy in the sum of Fifteen Thousand Nine Hundred Thirty Eight Dollars and Fifty-four Ccnts ($15,938.54), plus interest at the rate indicated on thc individual Contract(s), late fces, costs of suit, attorneys' fees and collection costs. ($33.935.13), plus intcrcst atlhc ratc indicatcd onthc individual Contract(s), latc Iccs, costs of sui I, attorneys' fccs and collcction costs. COUNTJV IHCKJNSON COLLEGE V, ,JONATHAN MCEVOY IN OUANTUM MERUIT Inthc alternativc, if this Honorablc Court should dctcrminc that an cxprcss contract bctwccn Dickinson and Studcnt docs not cxist, which is dcnicd, Dickinson plcads thc following Court III Quaulum Meruil. 38. Paragraphs I through 37 arc incorporalcd hcrein by refcrcncc as ifsct forth infiJiI. 39. l'laving rcquestcd Dickinson to loanmoncy, and doing so to the bcnefit of Student, Student became liable to Dickinson for said moncy. 40. Studcnt has becnunjustly cnrichcd by accepting said moncy without paying Dickinson reasonablc compensation therefor. 4 I. The total amount by which Studcnt has becomc cnriched on account of the money loaned is Thirty Three Thousand Nine Hundred Thirty I'ive Dollars and Thirteen Ccnts ($33,935.13). 42. Dickinson has dcmanded payment of thc above sums but Student has failed and refused to do so. WHEREFORE, Plaintiff Dickinson College demandsjudgment against Defendant Jonathan McEvoy in the Stnn of Thirty Threc Thousand Ninc Hundrcd Thirty Fivc Dollars and Thirtcen Cents ($33,935.] 3), plus interest at the ratc indicatcd on the Contract(s), until Student's obligation is paid in . . . , ( (' DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - PLAN B EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT Date AU9US t 24, 1992 1. Sellen Dickinson College, Carliele, Pennsylvania 17013-2896 Buyer(s): Peter p, McEvoy 41 N. Main, Box 173 Mullica Hill, NJ 08062 If there is more than one Buyer, each of you will be obligated, jointly and severally, for all sums due and for the performance of all agreements as provided'in this Contract. Under the terme of thie Educational Goods and Services Retail Inetallment Contract, you have agreed to pay the expenses incurred for goods and services to be provided and rendered, as the case may be, to Jonathan McEvoy (hereinafter "Student") during his/her enrollment at Dickinson college:during the 1qq?-q~ academic year, including tuition, room and board, books and supplies as herein statea (hereinafter the "Goods and Services"), The Goods and Services shall include only tuition, room and board, II, TERMS OF PAYMENT AND PAYMENT SCHEDULE Disclosurea Required by Federal Law ANNUAL PERCENTAGE FINANCE CHARGE: AMOUNT FINANCED: TOTAL OF PAYMENTS: TOTAL SALE RATE:. Dollar amount Amount of credit Amount paid by PRICE: Coat of credit as credit will provided by Buyer as total of Total cost of yearly rate coat Buyer Dickinson College all scheduled purchase on payments credit, in- cluding down payment of $ 11.360,00 7,50 % $ 4,596,75 $ 10,000,00 $ 14,596.75 $ 21,360.00 , .~ ,!\>,::.. Rev 2/92 Number of Payments 129 .Variable Rate. Late Charge. { ( Buyer's payment schedule will be as follows. Amount of Payments When Payments are Due Monthly commencing 9/28/92 until 5/?R/03 $113,15 The ANNUAL PERCENTAGE RATE disclosed above is a variable rate and may change, The ANNUAL PERCENTAGE RATE may increase during the term of this transaction if the prime rate of interest announced in the Wall Street Journal as of the close of business on June 30 of each calendar year increasss, and will be increased to the prime rate plus 1'. The ANNUAL PERCENTAGE RATE will not increase more than once a year, and the new interest rate will become effective on July 1 following the increase, if any, in the prime rate of interest, Any increase will be in the form of higher paymsnt amounts. If your cost of the Goods and Services sold hereunder were $ 10,000,00 at 7,50 'per annum for 129 months, and the prime rate plus 1% were increased to 8, 5~ " your regular monthly payments would increase to $ 1Hl ~1 ,Furt er, the ANNUAL PERCENTAGE RATE will not increase to more t an 18% or such other rate as may be permitted under the Pennsylvania Goods and Services Installment Sales Act, If a payment is more than 15 days late, a sum equivalent to 5' of the late payment (but no more than $2,50 and not lsss than $1,00) may be charged. Buyer may prepay the unpaid balance of the Amount Financsd and any FINANCE CHARGE due through the date of early payment, in full or in part, without penalty, . SEE SECTION VI OF THE CONTRACT BELOW FOR ANY ADDITIONAL INFORMATION ABOUT NON-PAYMENT, AND REQUIRED REPAYMENT BEFORE THE SCHEDULED DATE FOR REPAYMENT OF THE AMOUNT FINANCED. Prepayment: 1, 2, 3, 4. 5, III, ITEMIZATION OF AMOUNT FINANCED Cash price of Goods and Services: $ 21,360.00 Total down payment: Unpaid balance of cash price (1 - 2): 11,360 no 10.000,00 o $ 10,000,00 Amount paid to others on Buyer's behalf: Amount Financed (3 + 4): ." .. I.' ~. .~ . r r IV, CREDIT INSURANCE credit life ineurance for the term of thie contract is not required. V, NO WARRANTIES THERE ARE NO WARRANTIES, EITHER EXPRESSED OR IMPLIED, GIVEN BY SELLER IN CONNECTION WITH SALE OF THE GOODS AND SERVICES COVERED BY THIS CONTRACT UNLESS BUYER HAS BEEN GIVEN A SEPARATE WRITTEN WARRANTY, VI, ADDITIONAL PROVISIONS 1, Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Payments 1n the number and amount of monthly payments shown in the Payment Schedule, Payments are due on or before the same date of each month as the firet payment date, Payments must be made to First Wachovia, Inc, at the following address: Firat Wachovia, Inc. P,O, Box 70095 Charlotte, NC 28272-0095 2. Buyer's legal rights include the right to pay all or part of the amounts due on this contract in advance of their due dates, to obtain a refund or credit of unearned Finance charge whenever the amount.is paid in full in advance, and (with Seller's consent) to reinstate the contract if Buyer timely cures any default, 3, Buyer shall be deemed to have committed an "Event of Default" of,the contract upon the occurrence of any of the following: (a) failure to make any payment on or before the date it is due, (b) failure to make a payment on any other contract outstanding with Seller, (c) failure to perform any other provision of the contract, (d) providing Seller with false informa~ion or signatures, (e) death, incompetence, or conviction of any Buyer of crime involving fraud or dishonesty, (f) insolvency or bankruptcy of any Buyer, 4, Upon or after the occurrence of any Event of Default, Seller will provide Buyer with notice, by certified mail as required by law, addressed to Buyer's last known address as shown on Seller's records, advising Buyer of the default and of Buyer's right to cure the default, The notice will provide the time, amount and performance necessary to cure the default, If Buyer does not cure the default as provided in the notice, Seller's rights shall include the right to declare all sums due on the contract to be immediately due and payable, The Buyer agrees to pay all attorney's fees and other reasonable collection costs and charges necessary for the collection of any amount not paid when due, 5. Waiver by Seller of any Event of Default shall not be binding upon Seller if Seller should thereafter choose to exercise that or any other right or a similar Event of Default occurs later, All Seller's rights and remedies shall be cumulative. Seller's exercise of one or more rights ahall not cause Seller to lose any other rights, 6. This contract is freely assignable by Seller, Buyer agrees that upon receiving notice of the assignment Buyer shall be obligated to the Assignee of this contract, which Assignee shall have all of Seller's right and remedies. 7, If any part of this contract is held to be illegal, void or unenforceable, that provision shall be deemed not to have been a part of this contract, which shall otherwise remain fully effective, 8. APPLICABLE LAW: This Agreement, wheneye~ called upon to be construed, shall be governed by the domestic internal l<aw'8' of the commonwealth of Pennsylvania sxcept to the extent supplemented, superseded or preempted by federal law. 3 "' f (, 9, CONSENT TO JURISDICTION. VENUE AND SERVICE: The parties to this Agreement conssnt and agree that all legal proceedings relating to the subject matter hereof shall be maintained in the Court of Common Pleas of Cumberland county, Pennsylvania, or, if applicable, the United States District Court of the Middle District of Pennsylvania, and all parties hereto consent and agree that jurisdiction and venue for such proceedings shall lie exclusively within Baid court. Service of proceBs in any euch proceeding may be made by certifisd mail, return receipt requested, directed to the respective party at the addreBB Bet forth above, 10, Thio Contract shall bo binding upon the parties hereto, their heirB, BucceBBorB, assigns and logal representatives. 11. TIME IS OF THE ESSENCE OF THIS CONTRACT, NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF, RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER, NOTICE TO BUYER: (1) DO NOT SIGN THIS AGREEMENT BEFORE YOU READ IT OR IF IT CONTAINS ANY BLANK SPACE, (2) YOU ARE ENTITLED TO A COMPLETELY FILLED-IN COPY OF THIS AGREEMENT, (3) UNDER THE LAW, YOU HAVE THE RIGHT TO PAY OFF IN ADVANCE THE FULL AMOUNT DUE AND UNDER CERTAIN CONDITIONS TO OBTAIN A PARTIAL REFUND OF THE FINANCE CHARGE. RECEIVING A COMPLETED COPY OF THIS CONTRACT AND INTEND(S) TERMS, I AGREE TO REPAY ALL AMOUNTS DUE ON THIS LOAN IF THE BORROWER(S)/BUYER(S) FAILS TO DO SO IN ACCORDANCE WITH THE TERMS OF THE NOTE: STUDENT COSIGNER T SCRIPT OF A STUDENT'S REeo WILL NOT BE RELEASED IF LOAN PAYMENTS TO THE COLLEGE ARE IN ARREARS OR DEFAULT. DATE: DICKINSON COLLEGE f!>(-Z-'1/12- BY ~~ .... ," ,,:.. ~. , , , @ o ~ ~ . a ~ , , , , ' . . ;~., ' , .' 11'1 " ~ ~ ,', ;I; '~ [1 -.... ~,f '~ 1 1 i v\ , \ ~, r~ ~ I .1 ./ .,1,' if. i,',', , " :1'" J,-. ;,t""" 1.~~~"- I ,- ,~, r c. DICKINOON C01LEl3E FLEXIBLE FINANCING S'iS'IDl' - 2500 PIJ.N WJCATIONAL GCOOO AND srnvICES REI'AIL IN5'I7IIlMENI' Cl:JI'olIHAcr " ....' .' Date August 27, 1992 1. Seller: Dickinson College, Carlisle, Pennsylvania 17013 Buyer(s): Pecer P McEvoy 41 N, Main St, Box 173 Mullica Hill. NJ 08062 If there is more than one Buyer, each of you will be obligated. jointly and severally, for all sums due and for the performance of all agreements as provided in this Contract, Urrler the terms of this Educational Goods and Services Retail Installment Contract. you have agreed to pay the expenses incurred for goods and services to be provided and rerrlered. as the case may be. to Jonathan McEvoy (hereinafter "Student") during his!her enrollment at Dickinson College during the 1qq?-q1 academic year, including tuition. room and board. books and supplies as herein stated (hereinafter the "Goods and Services") , - The Goods and Services shall include only tuition. room and board. II. TERMS OF PAYMENT AND PAYMENT SQ-IEDULE Disclosures Required by Federal L:l.w ANNUAL PERCENTAGE FINANCE CHARGE: AMOOlIT FINANCED: rorAL OF PAYMENTS: rorAL SALE RATE: Dollar Amount Amount of credit Amount paid by PRICE: Cost of credit as credi t wi 11 provided by Buyer as total of Total cost of yearly rate cost B.1yer Dickinson College all scheduled purchase on payments credit. in- cluding down Prior 1~oODepay- payment of ment:' % 17,360,00 $ DJri~ rery- ment: 1,0 % $ 2,371,87 $ 4,000.00 $ 6,371,87 $ 21,360,00 Rev 9/89 .r r [luy"y'S payment '8cht;'dtlle will 00 as foll,ows: " Number of Payments Amount of p,)yments . 21 $36,67 When Payments al'e [)je monthly' commencing 9/28/92 ,ard continuing until 4/28/94 or such time as Student is no longer enrolled at Dickinson (or in an approved full-time off-campus program of studies), whichever is earlier, 72 monthly commencing 5/28/94 or such time as Student is no longer enrolled at Dickinson (or in an approved full-time off-campus program of studies), whichever is earlier, $76,14 L.3le ch,),rge: If ,; payment is more t.han 15 days late., a sum equivalent to 5% of the late payment (but no more t.han $2.50 and not less than $1.00) may be charged, F1'",payment: Buyer may prepay the unpaid balance of the Amount Financed and any FINANCE CHARGE due through the date of earLy p<3yment. in full or in part. without penalty. :=:EE SECHON VI OF 'TIIE CONTRACr BELOW FOR ANY ADDITIONAL INFORMATION AOOl.JT NON-PAYMENT, DEFAULT AND lID~UmED REPAYMENT BEFORE 11-lE SCHEDULED DATE FOR REPAYMENT OF TrlE AOOUNT FINANCED. III. ITEMIZATION OF AMOUNT FINANCED 1. (~ash price of Goods and Services: $ 21,360,00 .... Total down payment: 17,360,00 3. Unp,;id b;I'3nce or c,;sh pr i ce (1 - 2): 4,000,00 4. Il.mount p...~ld to other.:; on Buyer's behalf: 0 5, Amount Financed (3 + 4): $ 4,000,00 IV. CREDIT INSURANCE Credi t I ife insurance for the term of this Contract is not required, V. NO WARRANTIES 1HERE Ar'I'E NO WARPJ>.NTIE3, EI'IHER EXPRESSED OR IMPLIED, GIVEN BY SELLER IN CONNEcrION WIlli SALE OF 11-lE G(()DS AND SERVICE:: COVERED BY lliIS COmRl\CT UNLESS BUYER HAS BEEN GIVEN A :~'EPl\Rl\TE WRITIEN WAm';:AN"fY. 2 , ,\~c , ,:'; i', . . , :[ .,; . ',', J._.;. ,.,':,: .~.-. ::-:':'\ >,": '. 'f': ,..L. ADDITIONAL PllOVISIONS .{ 1, fuyer agrees to pay Seller the Total Sale Pr,ice by makirg the total down payment an:1 payirg Seller the Total of Payments in the rii.imber arx:l amount of monthly payments shown in the Payment Schedule. Payments are due on or before the same date of each month as the first payment date, Payments must be made to First Wachovia. Inc, at the following address: First Wachovia, Inc, P.O, Box 70095 Charlotte, NC 28272-{)095 2, D.lyer's legal rights include the right to pay all or part of the amounts due on this Contract in advance of their due dates. to obtain a refund or credit of unearned Finance Charge whenever the amount is paid in full in advance. an:1 (with Seller's consent) to reinstate the Contract if D.lyer timely cures any default. 3, D.lyer shall be deemed to have committed an "Event of Default" of the Contract upon the occurrence of any of the following: (a) failure to make any payment on or before the date it is due. (b) failure to make a payment on any other Contract outstarding with Seller. (c) failure to perfom any other provision of the Contract. (d) providirg Seller with false infonnation or signatures, (e) death. incompetence. or conviction of any D.lyer of crime involving fraud or dishonesty. (f) insolvency or bankruptcy of any fuyer, 4, Upon or after the occurrence of any Event of Default. Seller will provide atyer with notice. by certified mail as required by law, adrJressed to D.lyer's last known address as shown on Seller's records. advising BJyer of the default an:1 of BJyer's right to cure the default, The notice will proVide the time. amount ard perfonnance necessary to cure the default, If BJyer does not cure the default as provided in the notice. Seller's rights shall include the right to declare all sums due on the Contract to be immediately due am payable, The BJyer agrees to pay all attorney's fees and other reasonable collection costs am charges necessary for the collection of any amount not paid when due, 5, Waiver by Seller of any event of de fau I t shall not be birding upon Seller if Seller should thereafter choose to exercise that or any other right or a simi lar Event of Default occurs late~, All Seller's rights am remedies shall be cumulative. Seller's exercise of one or more rights shall not cause Seller to lose any other rights, 6, This Contract is freely assignable by ~ller, BJyer agrees that upon receivirg notice of the assignment BJyer shall be Obligated to the Assignee of this Contract, which Assignee shall have all of Seller's rights arrl remedies, 7. If any part of this Contract is held to be illegal, void or unenforceable, that provision shall be dee)Ded not to have been a part of this Contract, which shall otherwise remain fully effective, 8. APPLICABLE lAW: This Agreement. whenever called upon to be construed. shall be governed by the domestic internal laws of the Commonwealth of Pennsylvania except to the extent supplemented, superseded or preempted by federal law, 3 '. , , 9" CONSFm' TO JURISDlcrION. VENUE ANI) SERVICE: The parties to this Agreement consent arx:I. agree that all legal proceedings relating to the subject matter hereof shall be . maint.ained in the court of Common Pleas of .Culnberlarrl County. Pennsylvania. or. if applicable. the United States District Court of the Middle District of Pennsylvania. arrl all parties hereto consent am agree that jurisdiction and venue for such proceedings shall lie exclusively within said court, Service of process in any such t proceeding may be made by certified ,mail. return receipt requested. directed to the respective party at the address set forth above, 10. This Contract shall be biooing upon the parties hereto. their heirs. successors. assigns aM legal representatives, "., ...... ::~~;: " (' r 11. TIME IS OF TIiE ~CE OF nus CONTRAcr, NOTICE: AN'{ HOlDER OF 1HIS CONSUMER CREDIT CONrRAcr IS Sl.JB.Jrer TO ALL CLAIMS AND DEFENSES WHICH TIiE DEBTOR COUlD ASSERT AGAINST TIlE SELLER OF GOOre OR SERVICES OBTAINED PlJRS\JAl'IT ~o OR WI1H TIiE PROCEE:OO HEREOF, IIDXlVERY HrnElJNDER BY TIiE DEBTOR SHAIL NOT EXCEED AMOUNTS PAID BY TIiE DEBTOR HEREUNDER, NOTICE TO BUYER: (1) 00 NOT SIGN 1HIS AGREEMEm' BEFORE YOO READ IT OR IF IT CONTAINS AN'{ BLANK SPACE, (2) YOO ARE ENTITLED TO A COMPLETELY FILLED-IN COPY OF nus AGREEMENT, (3) UNDER TIiE lAW. YOO HAVE 1HE RIGHI" TO PAY OFF IN ADVANCE TIlE FULL 1\MCIUNr IXJE AND UNDER CERTAIN CONDITIONS TO OBTAIN A PARTIAL REFUND OF TIlE FINANCE CHARGE, EUYER(S) ACKNOWLID'3E(S) RECEIVI BE LEl3ALLY rouND BY I COMPLEIID COPY OF TIllS CONI'RAcr AND INTEND(S) TO BUYER(S) : I AGREE TO REPAY ALL AMOUNI'S DUE ON TIllS LOAN IF TIiE OORROWER(S)/BUYER(S) FAIIS TO 00 ro IN ACCORDANCE WI1H TIlE TERMS OF TIlE NOTE; C SIUDENT COSIGNER T ANSCRIPT OF A STUDENT'S R ORD WILL NOT BE ELEASED IF LOAN PAYMENTS TO THE COLLEGE ARE IN ARREARS OR DEFAULT, DATE: DICKINroNCOlLEJ3E b/-z.-. (17/ , I ~~ BY 4 r r . " DICKINSON COLLEGE ~LF,XIBLE FINANCING SYSTEM - PLAN B EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT Oate September 9, 1993 I. seller. oickinson College, Carlisle, Pennsylvania 17013-2896 Peter P. and Elizabeth J. McEvoy Box 173, 41 N. Main St, Mullica Hill, NJ 08062 Buyer(s) . If there is more than one Buyer, each of you will be obligated, jointly and ssverally, for all sums due and for the performance of all agreements as provided in thie contract. Under the terme of thie Educational Goode and Servicee Retail Inetallment Contract, you have agreed to pay the expeneee incurred for goods and services to be provided and rendered, ae the caee may be, to Jonathan P. M~Fv~ "-(hereinafter "student") during hie/her enrollment at Dickinson College during the 1q9~-q4 academic year, including tuition, room and board, booke and supplies ae herein statea (hereinafter the "Goods and services"), The Goods and Services shall include only tuition, room and board, - II, TERMS OF PAYMENT AND PAYMENT SCHEDULE Disclosures Required by Federal'Law ANNUAL PERCENTAGE FINANCE CHARGE: AMOUNT FINANCED: TOTAL OF PAYMENTS. TOTAL SAl'.E RATE.. Dollar amount Amount of credit Amount paid by PRlCE. Cost of credit as credit will provided by Buyer as total of Total cost of yearly rate cost Buyer Dickinson College all scheduled purchase on payments credit, in- cluding down payment of $ 12.590,00 7,0 .. $ 3,790,08 $ 10,000,00 $ 13,790,08 $ 22,590,00 Rev 2/92 ./ I <, '.'.'., \. Number of Payment. 116 -Variable Rate. Late Charge: r r Buyer's payment echedule will be ao followo: Amount of paymento When Paymente are Due Monthly commencing until 5/28/03 9/28/93 The ANNUAL PERCENTAGE RATE dioclosed above is a variable rate and may change, The ANNUAL PERCENTAGE RATE may increase during the term of this transaction if the prime rate of interest announced in the Wall street Journal as of the close of business on June 30 of each calendar year increases, and will be increased to the prime rate plus 1%. The ANNUAL PERCENTAGE RATE will not increase more than once a year, and the new interest rate will become effective on July 1 following the increase, if any, in the prime rate of interest, Any increase will bs in the form of higher payment amounts, If your cost of the Goods and Serviceo sold hereunder were $ 10 ~O 0& at 7.0 % per annum for -11.Q.. months, and the prime rate 1> us were increased to R.n %, your regular monthly payments would increase to $ 1?4.07 . Further, the ANNUAL PERCENTAGE RATE will not increase to more than 18% or such other rate as may be permitted under the Pennsylvania Goods and Services Installment Sales Act, If a payment is more than 15 days late, a sum equivalent to 5% of the late payment (but no more than $2,50 and not less than $1,00) may be charged, Buyer may prepay the unpaid balance of the Amount Financed and any FINANCE CHARGE due through the date of early payment, in full or in part, without penalty. SEE SECTION VI OF THE CONTRACT BELOW FOR ANY ADDITIONAL INFORMATION ABOUT NON-PAYMENT, DEFAULT AND REQUIRED REPAYMENT BEFORE THE SCHEDULED DATE FOR REPAYMENT OF THE AMOUNT FINANCED. Prepayment: III, ITEMIZATION OF AMOUNT FINANCED l. Cash price of Goods and Services: $ 22,590,00 2, Total down payment: 12,590,00 3, Unpaid balance of cash price (1 - 2): 10.000.00 4, Amount paid to others on Buyer's behalf: 0 5, Amount Financed (3 + 4): $ 10,000,00 r r " IV, CREDIT INSURANCE Credit life ineurance fo~ the term of thio Contract ie not required. V, NO WARRANTIES THERE ARE NO WARRANTIES, EITHER EXPRESSED OR IMPLIED, GIVEN BY SELLER IN CONNECTION WITH SALE OF THE GOODS AND SERVICES COVERED BY THIS CONTRACT UNLESS BUYER HAS BEEN GIVEN A SEPARATE WRITTEN WARRANTY, VI, ADDITIONAL PROVISIONS 1. Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Paymento in the number and amount of monthly payments ohown in the Payment Schedule, Payments are due on or before the same dats of each month ao the first payment date, paymente must be made to First Wachovia, Inc, at the following address: First Wachovia, Inc, P,O, Box 70095 Charlotte, NC 28272-0095 2, Buyer's legal righte include the right to pay all or part of the amounts due on this Contract in advance of their due dates, to obtain a refund or credit of unearned Finance Charge whenever the amount is paid in full in advance, and (with Seller's consent) to reinotate the Contract if Buyer timely cures any default, 3, Buyer shall be deemed to have committed an "Event of Default" of the Contract upon the occurrence of any of the following: (a) failure to make any payment on or before the date it is due, (b) failure to make a payment on any other Contract outstanding with Seller, (c) failure to perform any other provioion of the Contract, (d) providing Seller with false information or eignaturee, (e) death, incompetence, or conviction of any Buyer of crime involving fraud or dishonesty, (f) ineolvency or bankruptcy of any Buyer, 4, Upon or after the occurrence of any Event of Default, Seller will provide Buyer with notice, by certified mail as required by law, addressed to Buyer's last known addrese ae ohown on Seller's recordo, advising BUyer of the default and of Buyer'e right to cure the default, The notice will provide the time, amount and performance neceesary to Cure the default, If Buyer does not cure the default as provided in the notice, Seller's rights shall include the right to declare all sume due on the Contract to be immediately due and payable, The Buyer agrees to pay all attorney's fees and other reasonable collection costs and charges necessary for the collection of any amount not paid when due. 5, Waiver by Seller of any Event of Default shall not be binding upon Seller if Seller ehould thereafter choose to exercise that or any other right or a similar Event of Default occurs later, All Seller's rights and remedies shall be cumulative. Seller's exercise of one or more rights shall not cause Seller to loee any other rights. 6, Thie Contract is freely assignable by Seller, Buyer agrees that upon reCe1v1ng notice of the assignment Buyer shall be obligated to the Assignee of this Contract, which Assignee shall have all of Seller's right and remedies, 7, If any part of this Contract is held to be illegal, void or unenforceable, that provieion shall be deemed not to have been a part of this Contract, which shall otherwise remain fully effective. 8, APPLICABLE LAW: This Agreement, whenever called upon to be construed, shall be governed by the domestic internal laws of the Commonwealth of Pennsylvania except to the extent supplemented, superseded or preempted by federal law, 3 , ,(' r '. . DICKINSON COLLEGE FLEXIBLE FINANCING RYSTEM - PLAN A EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT Date September 14, 1993 1. Seller: Dickinson College, Carlisle, Pennsylvania 17013 Mr, and Mrs, Peter p, McEvoy Box 173, 41 N. Main Mullica Hill, NJ 08062 Buyer(s): If there is more than one Buyer, each of you will be obligated, jointly and severally, for all sums due and for the performance of all agreements as provided in this Contract, Under the terms of this Educational Goods and Services Retail Installment Contract, you have agreed to pay the expenses incurrep for goods and services to bs provided and rendered, as the case may be, to Jonathan p, McEvov (hereinafter "Student") during his/her enrollment at Dickinson College during the 1qq~-q4 academic year, including tuition, room and board, books and supplies as herein stated (hereinafter the "Goods and serviceelt). The Goods and Ssrvices sh~ll include only tuition, room and board, II, TERMS OF PAYMENT AND PAYMENT SCHEDULE Disclosures Required by Federal Law ANNUAL PERCENTAGE FINANCE CHARGE: AMOUNT FINANCED: TOTAL OF PAYMENTS: TOTAL SALE RATE: Dollar Amount Amount of credit Amount paid by PRICE: Cost of credit as credit will provided by Buyer as total of Total cost of yearly rate cost Buyer Dickinson College all scheduled purchase on payments credit, in- cluding down Prior to repay- payment of ment: 11,00 .. $ :>0,090.00 During repay- ment: 11,00 .. $ 1.259,81 $ 2.500.00 $ 3.759,81 $ 22.590.00 Rev 2/92 (' ( '. . , Buyer' 0 payment' oc'hodu 10 will bo aD Collowo: Number of paymento Amount of paymento Whon paymonto are Due 8 $22,92 monthly commencing 9/28/93, and continuing until 4/?R/93 or ouch time ao Student is no longer enrolled at Dickinson (or in an approved full-time off-campus program of studieD), whichevor is earlier, 72 $47,59 monthly commencing 5/28/93 or such time as student is no longer enrolled at Dickinson (or in an approved full-time off-campus program of studies), whichever is earlier. Late charge: If a payment is more than 15 days late, a sum equivalent to 5\ of the late payment (but no more than $2.50 and not leos than $1,00) may be charged, Prepayment: Buyer may prepay the unpaid balance of the Amount Financed and any FINANCE CHARGE due through the date of early payment, in full or in part, witho~t penalty, SEE SECTION VI OF THE CONTRACT BELOW FOR ANY ADDITIONAL INFORMATION ABOUT NON-PAYMENT, DEFAULT AND REQUIRED REPAYMENT BEFORE THE SCHEDULED DATE FOR REPAYMENT OF THE AMOUNT FINANCED, III, ITEMIZATION OF AMOUNT FINANCED l- Caeh price of Goode and Services: $ 22,590,00 2, Total down payment: 20.090,00 3, Unpaid balance of caeh price (1 - 2): 2,500.00 4, Amount paid to othars on Buyer' e behalf: 0 5, Amount Financed (3 + 4): $ 2,500,00 IV, CREDIT INSURANCE Credit life insurance for the term of thie Contract ie not required, V, NO WARRANTIES THERE ARE NO WARRANTIES, EITHER EXPRESSED OR IMPLIED, GIVEN BY SELLER IN CONNECTION WITH SALE OF THE GOODS AND SERVICES COVERED BY THIS CONTRACT UNLESS BUYER HAS BEEN GIVEN A SEPARATE WRITTEN WARRANTY, 2 , . r (" , , . VI, 'AODI1'IONAL PROVISIONS " . , 1, Buyer agroeo to pay Sollor the Total Salo Prico by making the total down payment and paying Sellor tho Total of paymento in the number and amount of monthly paymente ehown in tho Payment Schedule. Paymento are due on or before the Oame date of each month aD the firot payment date, paymento muot be made to Firot Wachovia, Inc, at the following addreoo: Firot Wachovia, Inc, P,O, Box 70095 Charlotte, NC 2B272-0095 2, Buyer's legal rights include the right to pay all or part of the amounts due on this Contract in advance of their due dateo, to obtain a refund or credit of unearned Finance Charge whenever the amount is paid in full in advance, and (with Seller's consent) to reinstate the Contract if Buyer timely cures any default, 3, Buyer shall be deemed to have committed an "Event of Default" of the Contract upon the occurrence of any of the following: (a) failure to make any payment on or before the date it is due, (b) failure to make a payment on any other Contract outstanding with Seller, (c) failure to perform any other provision of the Contract, (d) providing Seller with false information or signatures, (e) death, incompetence, or conviction of any Buyer of crime involving fraud or dishonesty, (f) insolvency or aankruptcy of any Buyer, 4, Upon or after the occurrence of any Event of Default, Seller will provide Buyer with notice, by certified mail as required by law, addressed to Buyer's last known address as shown on Seller's records, advising Buyer of the default and of Buyer'e right to cure the default, The notice will provide the time, amount and performance necessary to cure the default, If Buyer does not cure the default as provided in the notice, Seller's rights shall include the right to declare all sums due on the Contract to be immediately due and payable, The Buyer agrees to pay all attorney's fees and other reasonable collection costs and charges necessary for the collection of any amount not paid when due, Waiver by Seller of any event of default shall not be binding upon Seller if Seller should thereafter choose to exercise that or any other right or a similar Event of Default occurs later, All Seller's rights and remedies shall be cumulative, Seller's exercise Of one or more rights shall not cause Seller to lose any other rights, 5, ...;.. 6, This Contract is freely assignable by Seller, Buyer agrees that upon receiving notice of the assignment Buyer shall be obligated to the Assignee of this Contract, which Assignee shall have all of Seller's rights and remedies, 7. If any part of this Contract is held to be illegal, void or unenforceable, that provision shall be deemed not to have been a part of this Contract, which shall otherwise remain fully effective, . B, APPLICABLE LAW: This Agreement, whenever called upon to be construed, shall be governed by the domestic internal laws of the Commonwealth of Pennsylvania except to the extent supplemented, superseded or preempted by federal law, 9, CONSENT TO JURISDICTION. VENUE AND SERVICE: The parties to this Agreement consent and agree that all legal proceedings relating to the subject matter hereof shall be maintained in the Court of Common Pleas of Cumberland County, Pennsylvania, or, if applicable, the United States District Court of the Middle District, of Pennsylvania, and all parties hereto consent and agree that jurisdiction and venue for such proceedings shall lie exclusively within said court, Service of procsss in any such proceeding may be made by certified mail, return receipt requested, directed to the respective party at the address set forth above, 3 c. , "' (') r; ~ " -or."' :- rnr, ~') z::: I -7 (~ (}) . ,":"i "< ~'~;: - -.... " ;pc: ':: ?.:. :51 ~ ," , ::::~ ~ -c 0 r::." ~:; .i". "TJ ~. ~ [~J I, .;) " ;.~; -, Uj -, " :- '" ~- ,~, ; ,- ) ....:~ CJ : , , ::;...-:- -. -' Co. ... / .::.:..! --;I (I'. :.:C! -, -<. 1;- :i I I i , j , ,,, r;