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HomeMy WebLinkAbout03-2770IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION IN RE: PETITION OF ELIZABETH : No. 0~ ~o of 2003 K. LONG, A/K/A : ELIZABETH K. LEHMAN TO : TRANSFER STRUCTURED : SETTLEMENT PAYMENT : RIGHTS : PETITION TO TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS Pennsylvania 17025. 2. Venue is proper in this Court pursuant to the Structured Settlement Protection Act, because the Petitioner is domiciled in Cumberland County, Pennsylvania. 3. On or about March 7, 1990, Petitioner entered into a "Release and Trust Agreement" with defendant, North River Petitioner, Elizabeth K. Long, a/k/a Elizabeth K. Lehman, brings forth the following Petition to Transfer Structured Settlement Payment Rights pursuant to, and in compliance with, the Structured Settlement Protection Act, 40 P.S. ~ 4001-4009, and in support states: 1. The Petitioner is Elizabeth K. Long, a/k/a Elizabeth K. Lehman, an adult individual whose date of birth is January 27, 1965, and who resides at 124 Altoona Avenue, Enola, Insurance Company, as a result of a claim for personal injury and/or death. The terms of the "Release and Trust Agreement" provided for an immediate payment to Petitioner in the amount of $48,338.00, followed by periodic payments to Petitioner in the amount $430.00 per month, guaranteed for 20 years, only, commencing on March 1, 1990 and ending on February 1, 2010. A true and correct copy of the "Release and Trust Agreement" is attached hereto and incorporated herein by reference as Exhibit "A." 4. As a result of the settlement, the defendant, North River Insurance Company, assigned the obligation to make the periodic payments to Transamerica Annuity Service Corporation, the structured "Settlement Obligor" as defined by 40 P.S. ~ 4002. Transamerica Annuity Service Corporation is located at 400 West Market Street, Louisville, KY 40202. Transamerica Annuity Service Corporation funded the obligation by purchasing an annuity (Annuity Contract No. 900466) from Transamerica Occidental Life Insurance Company, the "Annuity Issuer." (See "Policy Data" pages appended to Exhibit "A," the Release and Trust Agreement). The Annuity Issuer is located at 400 West Market Street, Louisville, KY 40202. 5. On May 19, 2003, Petitioner executed an Absolute Assignment and UCC Article 9 Security Agreement, (the "Transfer Agreement"), a true and correct copy of which is attached hereto and incorporated herein by reference as Exhibit Transfer Agreement provides for the assignment of right and interest in receiving periodic payments monthly payments, each in the amount of $430.00, and including February 1, "B." The Petitioner's as follows: commencing 2010 78 on September 1, 2003 through (the "Assigned Payments"), to Settlement Funding, LLC (the "Transferee"). Settlement Funding, LLC d/b/a Peachtree Settlement Funding ("Settlement Funding") is a Georgia Limited Liability Company with its principal place of business at 6501 Park of Commerce Blvd., Suite 140B, Boca Raton, Florida, 33487. 6. The Transfer Agreement was executed by the Transferee on May 21, 2003. 7. Additionally, as set Affidavit herein by reference forth in further detail in her dated May 19, 2003, attached hereto and incorporated as Exhibit "C," Petitioner avers that: bo She is over 18 years of age, and of sound and disposing mind. She desires to sell the Assigned Payments to Settlement Funding, LLC. She is fully aware of the economic consequences of the transaction and she is fully capable of managing her financial, personal and business affairs. The transaction contemplated by the Transfer Agreement is in her best interests and she has thoroughly considered all of the ramifications of the transaction. 3 so receipt at Agreement, of 4003 (a) (2), Exhibit "D." Disclosure, Petitioner: a. The purpose of the transaction is to put a down payment on a house, which will improve Petitioner' s well-being, permit her to invest in her home and build equity, and make it easier to provide for her family. (See generally, Affidavit of Elizabeth K. Long, a/k/a Elizabeth K. Lehman, Exhibit "C" ) · She has waived independent financial advice regarding this transaction, as set forth in her Affidavit, at Paragraph 7. Petitioner has been provided, and has acknowledged least 10 days prior to receipt of the Transfer the "Transfer Disclosure" required by 40 P.S. ~ attached and incorporated herein by reference as As set forth in greater detail in the Transfer the following terms have been disclosed to the bo Co do The amounts and due dates of the structured settlement payments to be transferred are: 78 monthly payments, each in the amount of $430.00, commencing on September 1, 2003 through and including February 1, 2010. The aggregate amount of the structured settlement payments to be transferred is $33,540.00. The discounted present value of the payments transferred using the most recently published applicable federal rate for determining the value of an annuity is $29,289.51. The federal discount rate used to determine the discounted present value is the effective annual rate of 3.80 percent as of May 5, 2003. 4 receipt, eo fo The gross amount payable to Petitioner in exchange for the transferred payments is $18,856.58. The good faith itemized listing of all broker's commissions, service charges, legal fees, notary fees, costs etc. deductible from the gross amount otherwise payable to the Petitioner is: Legal Fees of $2,000.00 plus any advances made on Petitioner's behalf for notary, copying and fax fees, and advances related to attorney fees or any other advances made to Petitioner, of $200.00. The net amount payable to Petitioner after deduction of the above commissions, legal fees, etc., is $16,656.58, minus any advances made to Petitioner or on Petitioner's behalf for notary and fax fees and advances related to attorney fees, or any other advances made to Petitioner against the amount payable to Petitioner. (Except $9,378.02 will be deducted from the gross amount payable and will be paid to Settlement Funding, LLC, as servicer for Peachtree Finance Company, LLC ("Peachtree Finance"), to enable Payee to obtain Peachtree Finance's release of its encumbrance, on a portion of the payments set forth in section A above, relating to prior transfer transaction(s) that were consummated prior to the effective date of the applicable Transfer Act(s). h. The quotient is 56.87%. The amount of penalty and aggregate amount of any liquidated damages inclusive of penalties payable by the Petitioner in the event of any breach of the transfer agreement by the Petitioner is: NONE. Petitioner has been provided, and has acknowledged at least 10 days prior to receipt of the Transfer 5 Agreement, point type required by 40 P.S. ~ 4003 (b). copy of Petitioner's acknowledgement of ~ 4003 (b) notice is attached as Exhibit "E." 10. Petitioner has expressly waived advice regarding the implications of the of the written "Important Notice" in bold print 12- A true and correct the receipt of the independent legal transfer, including considerations of the tax ramifications of the transfer, forth in the "Acknowledgement" dated May 19, Exhibit "F." (See also, Exhibit "C"). 11. On January 24, 2002, "The Victims as set 2003, attached as of Terrorism Tax Relief Act," PL 107-134, 115 Stat. 2427, was enacted, which in part, amends the Internal Revenue Code of 1986. The Act amends 26 U.S.C.A. ~ 5891 and now provides for favorable tax treatment of "structured settlement payment factoring transactions" that are approved in advance by a qualified court order approving the transaction. 26 U.S.C.A. ~ 5891 (b) (1). A "structured settlement payment factoring transaction" is defined as "a transfer of structured settlement payment rights (including portions of structured settlement payments) made for consideration by means of sale, assignment, pledge, or other form of encumbrance or alienation for consideration." 26 U.S.C.A. ~ 5891 (c) (3) (A) (parentheses in original). A "structured settlement" is defined as an arrangement established by "agreement for the periodic payment of damages excludable 6 from the gross income of the recipient under [Internal Revenue Code] section 104 Ia) (2) " and under which the periodic payments are "of the character described in subparagraphs (A) and (B) of section 130(c) {2)." A true and correct copy of 26 U.S.C.A. § 5891 is attached hereto as Exhibit "G." 12. 26 U.S.C.A. ~ 5891 (d) (1) was also added by the Act and provides: [I]f the applicable requirements of sections 72, 104(a) (1), 104(a) (2}, 130, and 461(h) were satisfied at the time the structured settlement involving structured settlement payment rights was entered into, the subsequent occurrence of a structured settlement factoring transaction shall not affect the application of the provisions of such sections to the parties to the structured settlement (including an assignee under a qualified assignment under section 130) in any taxable year. (emphasis added). Accordingly, a favorable tax result is in effect at the time the Payee and the Transferee entered into the Transfer Agreement. 13. Since a favorable tax result is in effect, approvals of the Settlement Obligor and the Annuity Issuer to the proposed transfer are not required. 40 P.S. ~ 4003 (a) (5) {i) (A). 14. The structured settlement did not arise out of a workers' compensation claim. 7 15. Petitioner has seriously contemplated this transaction, and due to her personal circumstances and needs, believes that this transfer is in her best interests. 16. Petitioner acknowledges that Swartz Campbell LLC has not been engaged to render professional advice with respect to the advisability, or the implications of the transfer, including the tax ramifications of the transfer. Counsel has been engaged solely to prepare and present the within Petition, based upon independent determination and professional advice the advisability and Petitioner's obtained from others, with respect to ramifications of the transfer. WHEREFORE, Petitioner prays that this Honorable Court grant this Petition to Transfer Structured Settlement Payment Rights. Respectfully submitted, Swartz Campbell LLC d E. Reitz Pa. .D. No. 55408 1120 Grant Building 310 Grant Street Pittsburgh, PA 15219 (412} 391-7800 Attorney for Petitioner, Elizabeth K. Long, a/k/a Elizabeth K. Lehman RELEASE AND TRUST AGREEMENT This RELEASE is entered and agreed to as set forth below. I. Release and Di$cbarqe of and on the last date For and in consideration of the payments provided for herein to be paid by North~ River Insurance Company the receipt and promise of which is acknowledged, the Plaintiff, Elizabeth Lehman does hereby--release and discharge North River Insurance Company only, under its policy number 1074550239 and Jody L. Bridge from all claims which we now or may hereafter have by reason of bodily injury and death in any way growing out of or resultin~ from or to result from an accident which occurred on or about the October 1, 1988 at or near Good Hope Road, Cumberland County, ~ampden Township, Pennsylvania. It is understood and agreed between the parties that this Release is not to effect any claim the Plaintiff may have against any other person or entity who may be involved and any other i~urance carrier which may or might be called upon to provide coverage for said accident. The Plaintiff specifically does not release any claims she may have against the Commonwealth of Pennsylvania Department of Transportation; State Farm Insurance Company; and Federal Kemper Insurance Company. 2. ~ayments In consideration of the Release and Trust Agreement set forth above, North River Insurance Company hereby agrees to pay the following sums in the designated manner to the Plaintiff, Elizabeth Lehman: A. The following payments are due at the time of execution of this Release and Trust Agreement: The sum of Forty Eight Thousand Three Hundred Thirty Eight Dollars and No Cents ($48,338.) when all necessary documents have b~en fully e×ecutsd and delivered. It is agreed by the Plaintiff that she will pay from said sum all of her attorney's fees, costs and expenses incurred by or on her behalf in connection with the pursuit of any rights she has arising from said accident and in the settlement set forth herein. EXHIBIT "A" 'ON ×~ ~ESN3SO~ 9NINN3H ~qQN~H payments to Elizabeth Lehman in the following manner: (i) The sum of Four Hundred Thirty Dollars ($430.) per month guaranteed for 20 years only, beginning on March 1, 1990 and ending on February 1, 2010. Any and all payments to be made are not compensation but are on a¢oount of personal injuries. 3. Rights to Payment North River Insurance Company shall not be caused to segregate or set aside any of its assets to fund the payments to the Plaintiff required herein, aside from any payments required for the annuity and/or qualified assignment described below. The periodic payments required herein cannot be accelerated, deferred, increased or decreased by the Plaintiff and no part of the payments called for herein or any assets of North River Insurance Company is to be subject to~xecution or any legal process for any obligation in any manner, nor shall the Plaintiff have the power to sell or mortgage or encumber same, or any part thereof, nor anticipate the same, or any part thereof, by assignment or otherwise. 4. ~ualified Assignment A. North River Insurance Company intends to discharge its obligation to the Plaintiff by purchasing an annuity from Transamerica occidental Life Insurance Company. B. The parties understand, acknowledge and agree that within the meaning of Section 130Ic) of the Internal Revenue Code of 1986 as amended, North River Insurance Company, "Assignor" may make a "qualified assignment" to Transamerica Annuity Service Corporation , "Assignee" of its obligation to make the future payments described in 2B (i) above. The Plaintiff hereby consent to such an assignment and agree that Assignee, is mot required to set aside specific assets to secure such periodic payments and that Assignee's, obligation to make periodic payments shall be no greater than those of Assignor, immediately preceding the assignment. Upon assignment, Assignee, or its designee, shall mail future payments to the Plaintiff. C. Upon making such a "qualified asszgnment' Assignor, shall be fully released from all obligations to make the periodic payments so assigned and only Assignee, shall be obligated to make said periodic payments. D. Assignee, may fund the periodic payments assigned, by purchasing a "qualified funding asset" within the meaning of Section 130(d) of the Internal Revenue Code of 1986 as amended, 6I~Lb8~LIL 'ON ×¥:I in the form of un a~nuiLy ~onLrauL f£um Tz=nm~m=~iua o~cid=ntal Life Insurance Company. Ail rights of ownership and control of such an~iry cO~ra~t--s~alT-be v~sted~n~si~n~e~ut Assign~, may direct Transamerica Life Insurance Company to make payments directly to the Plaintiff for Assignee's, convenience. Plaintiff shall be responsible for maintaining the currency of the proper mailing address and mortality information to Transamerica Life Insurance Company. ~. North River Insurance Company authorizes the qualified Assignee, Transamerica Annuity Service Corporation to provide to the Plaintiff rights as a creditor no greater than those of a general creditor as permitted under Section 130 of the Internal Revenue Cod~as~ amend~d-b~the-~MiscellaneousRevenue Act o~'1988~ Such rights shall be provided within a reasonable time following the release by the Internal Revenue Service of guidelines on the creation of ~uch an interest without causing adverse ta~ consequences to the Assignor or qualified Assignee. 5. Successor Paves In the event of the death of Plaintiff, Elizabeth Lehman all future periodic payments specified as "guaranteed", to be paid pursuant to paragraph 2B(i) above, that have not been paid as of the date of death, shall be continued to be paid to her estate or such other person[s) or entity which may be designated in writing b~ the Plaintiff prior to date of death and delivered in writing to the entity making such payments, unless otherwise notified, payments pursuant to Section 2B(i) hereof shall be made to the Estate of Elizabeth Lehman. 6. Governinq. L~ This Settlement Agreement shall be construed and interpreted in accordance with the laws of the State of Pennsylvania. 7. Additional Documents Ail parties agree to cooperate fully and execute any and all supplementary documents and to take all additional actions which may be necessary or appropriate to ~ive full force and effect to the basic terms and intent of this Release and Trust Agreement. Tax ConseGuences It is further understood and agreed among the parties that the Plaintiff has not relied upon any representations, express or implied, made by any person or entity, including North River Insurance Company or it~ attorneys or representatives, as to the possible tax consequences of this agrement and that the Plaintiff hereunder release North River Insurance Company,. and any other persons or parties associated with it, including its attorneys and representatives from any and all liabilities in connection PO ~ 6~8L~SELIL 'ON ×~J ~38N3S0~ DNINN~H ~qON~H EP:60 I~J OO-IE-N~£ with any such tax 9- counterarp~_~ This agreement may be executed in counterparts, each of which so executed shall be deemed an original, and such counterparts together, shall constitute but one and the same instrument, each such counterpart containing the signatures of all parties hereto. 10. ~ntire A~ment This Release and Trust Agreement represents the entire agreement between the' parties hereto and there are not other agreements or understandings by and between the parties hereto which have not been set forth in this document. The Plaintiff is represented by David Rosenberg, Esquire, who has fully advised the Plaintiff, Elizabeth Lehman of all her legal rights, and she is fully aware that this Release and Trust Agreement constitutes a Release in full and will discharge North River Insurance Company and Jody L. Bridge and any and all persons, entities add or corporation that may be involved, from any further liability, except as expressly specified and outlined in the preceding paragraphs. 6I~ib~ZLl~. 'ON X'd.t H38N3SOH ONINNEH HF'](INYH ~b:60 tH:I O0-1g-N¥.r Effectiveness This Agreement shall become effective immediately execution by all of the parties. following )ss. / ~n ~hJ.~ . 7rt' ,day of ~/]RCH' , 19~), before me personally /appeared~,m~:;~ [-~,,~.),lto me known to be the person described // herein, and who' executed the foregoing instrument, and // acknowledged that ~f voluntarily executed the same. Notary ~ublic STATE OF ) ]ss. COUNTY OF ) On this day of , 19 , before me personally appeared to me known to be the person described herein, and who executed the foregoing instrument, and acknowledged that voluntarily executed the same. Notary Public My Term Expires: Accepted: North River Insurance Company By: (Seal) (Title) 90'~ 6~LP~JLIL 'ON )'(¥,~ ~38N3S0~ ONINN3H ~{3"JdNWN H~:6O IN.~ O0-IE-N¥? Dec-17-99 04:23P NA[L ,OXES ETC #698 717~ 1+0565 P.08 Transamefloa Ill Occidental L fe I-He Ins,mince ~y 1150 South Olive Sheet Lo~ Ange~, CA 90015 POLICY DATA PolJoyNumber DAtsoflssue 900666 May 4, 1990 MeasuriflgLIves E1Lzabe~b Kc7 Lehman Armuity Payments to be M;de to Owner's t)ssignoe Single Premium Annuity Payments -- Transamerica Ocoldentsl Life Insurance Company will pay the percy owner, or such person(s) es the policy owner may designate, subject to the prOvisions of this end the following pages which are made a part of this policy, according to the atleched Schedule of Benefits. Signed for the Company at Los Angeles, California, on the date of issue. SENIOR V~Cat PRESIDENT, GENERAL COUNSEL AND CORPORATE ,~F-CRETARY Right to Examine and Return Policy Within 10 Days -- The owner may, at any time within 10 days after receipt of this policy,' return it for cancellation to us or to the agent through whom it was purchased. The return of the policy will void it from the beginning and any premium psid will be refunded to the owner. This policy is a legal contract between the policy owner and Transamerica Occidental Life Insurance Company. READ YOUR POLICY CAREFULLY Single Premium Settlement Annuity Anmdty Payments Specified In Schedule Non-Psrlieipeting - No Annusl Dividends T Transamerloa Oooldentai hfe L,t. ~.,.,o.c. co~.o..y AppllclUofl for Single Prmium Ho.~. C~,,ce ~o~ ^.se~. $utllemeflt Anuuily Measuring Lives: a. Name' El{zabeth 206-&8-788& Lehman Middle List Title 01/27/65 P.O. Box 81 Marv~v~lkL__~ P~--,~ylv~'. .]7~'[ Address: 67 Cove .R_ill Road b. Name: Address: _ c. Name: Address. 2. Owner of Annuity: Name; Transamerica A~nut t¥ Servt ce Corpora tJon Address; r~efer al1 ln-ulrtes to 1160 South 011ye Stt'eet, Los Angeles, CA 90015) Theownerls [] Individual O Partnership I0 Corporation [3 T/ustee 3. AnnuityPlanand$CheduleofPayments: Four Hundred Thirty Dollars ($430.) per munch guaranteed for 20 year~ only, beginning March 1, [990 and ending On February 1, 2010. MaLl To: c/o Cu~'~rce Bank, Cazp Mill, PA 17011 Acct. ~5020-4500-5141-001222~6 A~dTtional information tot annuity payments can be added on reverse side. 4 AmountPafdwilllthisApp~icati0n: ~/aluabla ~-nn,cttl~'atlnn T~i~ ~pplicatiofl will be a part ol the annuity issued by T~ansamerica Occidental Life Insurance Com~ny. II is agreed that: (1) 1his application shall be Ihs bas~s lot any annuity issued Oa this application: (2] Any a~uity issued on this application sha~L not taka elfect unlil thc policy is delivered to the owner and t~e single premium has bean paid in full; (3) N0 inf0tmat~o · acquired by any representative ut the Company shall be binding upon tnb Company unless set out in writing ~n this application; and (4) No waiver or moGificat~on shall be bind:ne upon the Company unless in writing and signed by the President or a Vice President and the Secretary or an Assistant Secretary. Signed by the Ap~ic~J~wl~er at .SI, n ta~e,~-~ Ne w~)4e x 1 co __ ,y: . .- APe t e.re4 · '/ , on l~lrch_21, 19 90 Dec-17-g9 04:23P MAIL ·oxES ETC #698 7174 1~0B65 1 $CHEDULE OFBENEFITS poli~y N~mbe£: 900466 Furchase Dace: February 6p 1990 Beginning ~acc~ IN 1990, ~i~O.O0 per for two huodced forty {240) payments The above payments are guaranteed. .... End o£ Schedule .... 1-920 T 1-16,4 NO BENEFITS, INCLUDING ANY DEATH BENEFITS, ARE PAYABLE EXCEPT ON THE DATES 8ET FORTH ABOVE READ YOUR P~ICY CA-~I~[ILLY GENERAL PROVISIONS Cash Values -- TMS policy does not have cash od surrender values. Date of Issue -- Tho date of issue will be used to d~t~rmlne policy anniversaries and policy years. Owner of the Policy -- The owner of this policy will he entitled to the rights granted bY this policy or allowed by the Company under this policy. If the owner is a partnership, the rights belong to the partnership as il exists when a right is exercised, If the owner ts an individual, the rights of the owner belong to the executor or administrator et the Owner's estate unless otherwise provided in this policy. Change ot Designation - The owner has the right at any time to designate to whom annuity payments wiJl be made. A change of designation may only be made by liling a satisfactory written notice with the Company, A change of deslgneti0n will not be effective until recorded at the Home Office el the Company. The change of designation will take effecl on Ihe date the notice was signed. Any payment made before the Company records a change ot designation will not be subject to the change, Incontestability -- This policy wijl be incontestable Irom its date el issue, Misstatement of Age or Sex - II the age or sex et the Measuring Lite has been misstated, any amount payable under this policy shall be such as the premium paid would have purchased at the correct age and sex according lo the rates in use by the Company at the date et issue. Any under-13aymentS or over-Dayments by the Company with interest et 6% annually shah be added to or deducted /rom the payments to be made after the adjustmenL Change of Owner -- An assignment o! this policy will not be Pindlng upon the Company unlil recorded st its Home Office. The Company assumes no responsibility for the suffciency or validity of any assignment. However, when an assignment is filed with tAe Company end recorded et the Home Office, the owner's rights will be subject to it. Payment of Proceeds - All payments by the Company are payable at the Home Office. If the Schedule el Benefits provides for payment of proceeds t0r So long es the Measuricg Life shall live, the Company has the righl before each such payment is made to require due proof that the Measuring Life is living on the payment date. For such proceeds, no fractional payment will be made for the period from a payment date to'the date of death of the Measuring Life. if the Schedule of Benefits proviCtss t0r payment of any proceeds by reason el the death of the Measuring Lite, due proof of death of the Measuring Life must be submitted to the Home Office of the Company. Non-Participation - This policy does not participate in profits or surplu~ of the Company, The Contract - This policy is issued in consideralion of the application and payment of the premium_ This policy end the application for it, a copy of which is attached to and maOe a part of this policy, constitute the entire contract. All statements made by or ¢or the applicant will be considered representations and not warranties. No siatemenl will avoid this policy or be used in defense of a claim unless it is contained in the written application end s copy et the application is attached to this policy when issued. Who is Authorized to Make Changes in the polk=y -- Only the Company's President or a Vice President, together with a Secretary or an Assiutant ~ecrstery have the euthorily to bind the Company to make any change in this policy and then only in writing. The Company will not be bound by any promise or representation made by or to a ny other persons. 1-920 1 ~. 8Ingle Premium 8etttemeflt Annuity Annuity Pm¥mente Spe4=lfled In Schedule Nofl-ParticipetJng - NO An~.usl Dividends T[ansamerlca I]eoldental bfe Transamed ca ~identa] Life insurance Company 1150 .Bouth Olive Street Los Angeles, California 90015 A Stock Company Notice: In collecting any benefit under this i~OHCy, it is not necessa~ to employ any person or agency. Write diraufly to the Company at Tranaamerl=a Center, LOS Angelee, California, and thus save unneceeea~/expenae. ABSOLUTE ASSIGNMENT AND UCC ARTICLE 9 SECURITY AGREEMENT (THE "AGREEMENT") May 16, 2003 I, Elizabeth K. Long aka Elizabeth K. Lehman, ('I", "Me" or "Assignor") residing at 124 Altoona Ave. Enola, PA 17025 am entitled to 240 monthly payments of $430.00 commencing March 1, 1990 through and including February 1, 2010 (the "Periodic Payments") on account of the settlement of a certain personal injury claim, the settlement of which is memorialized in that certain settlement agreement dated March 7, 1990 (the "Settlement Agreement"). The Periodic Payments are due to me from Transamerica Annuity Service Corporation (the "Settlement Obligor") under the terms of the Settlement Agreement and are being funded by an annuity issued by Transamerica Occidental Life Insurance Company (the "Annuity Issuer") bearing annuity contract number 900466. A. i hereby sell, assign and convey to Settlement Funding, L.L.C. (the "Assignee") or its assigns all of my rights to and interest in and to the following payments due or to become due under the Settlement Agreement: 78 monthly payments each in the amount of $430.00 commencing on September 1, 2003 through and including February 1, 2010 (the "Assigned Payments"). In consideration for this assignment, Assignee shall pay to me the sum of: $18,856.58 (the "Assignment Price"). B. I hereby make the following unconditional representations, warranties and promises: 1. No one other than me has any interest or claim of any kind or nature in, to or under the Assigned Payments i am assigning hereunder. 2. I am not indebted to anyone that would affect in any way either the assignment of the Assigned Payments referenced above or Assignee's absolute rights to receive same. 3. I agree to conduct my affairs so as to ensure that Assignee obtains all of the benefits of the assignment contemplated hereby. C. I agree that the following shall be considered an event of default by me under this Absolute Assignment Agreement: 1. The representations set forth in Paragraphs B 1 and S 2 above are at any time not true. 2. Failure by me to perform the promise set forth in Paragraph B 3 above. 3. Failure by the Settlement Obligor or the Annuity Issuer to make any one or more of the Assigned Payments as a result of any act by me, my estate or any of my heirs. 4. Failure by the Settlement Obligor or Annuity Issuer to forward one or more Assigned Payments to Assignee as a result of any act by me, my estate or any of my heirs. 5. Failure by me to forward promptly to Assignee any Assigned Payment received by me from the Settlement Obligor or the Annuity Issuer. 6. Failure by me to fulfill any other obligation of mine under this Agreement. D. The following are conditions precedent to Assignee's obligation to pay me the Assignment Price: 1. Assignee shall be satisfied, in its sole discretion, that there are no claims or interests of any kind or nature whatsoever that do or may affect Assignee's rights to or interest in the Assigned Payments and Ass'gnee s ability actually to receive same on the dates and in the amounts set forth herein. 2. Assignee shall have received a final non-appealable court order, or a signed acknowledgment from Settlement Obligor and the Annuity Issuer satisfactory to Assignee in its sole discretion (such court order or acknowledgement together are hereinafter referred to as the "Order"), authorizing the transfer by assignment of the Assigned Payments (which may continue to be made out to my name) to Assignee, and directing that the Periodic Payments due on or after the day of the Order be forwarded, or authorizing the forwarding of the Periodic Payments, directly to Assignee. EXHIBIT "B" E. Under this Agreement and only to the extent permitted by law Assignee and I intend to create a security interest under Article 9 of the Uniform Commercial Code of the state designated in Paragraph F below, in my rights to and interest in payments due to me under the Settlement Agreement, which rights have been assigned to Assignee as General Intangibles under Article 9 of the Uniform Commercial Code of the state designated in Paragraph F below. This Agreement shall also function as a security agreement. This security interest secures payment of the rights assigned and performance of my obligations under Paragraph B above. Assignee may direct any account debtor, obligor on an instrument, including, without limitation, the Settlement Obligor or Annuity Issuer, to make periodic payments directly to Assignee as contemplated by the Uniform Commemial Code. Assignee may file a UCC-1 financing statement to perfect its rights hereunder. F. Except as otherwise required by applicable statutory law, this Agreement shall be governed by and interpreted in accordance with the law of the state of residence of the Assignor on the date of this Agreement. ARBITRATION Any and all controversies, claims, disputes, rights, interests, suits or causes of action arising out of or relating to this Agreement and the negotiations related thereto, or the breach thereof, shall be settled by binding arbitration administered by the American Arbitration Association. The demand for arbitration shall be filed in wdting with the other parbj to this Agreement and with the American Arbitration Association offices in your state of residence. The arbitration shall be held in the largest city in your state of residence. The arbitration shall be held before a single arbitrator selected in accordance with the Commercial Arbitration Rules of the American Arbitration Association in effect at the time that the demand for arbitration is filed. Discovery, specifically including interrogatories, production of documents and depositions shall be at the discretion of the arbitrator and to the extent permitted shall be conducted in accordance with, and governed by the Federal Rules of Civil Procedure. A demand for arbitration shall be made within a reasonable time after the claim, dispute or other matter in question has arisen. In no event, shall the demand for arbitration be made after the date when institution of legal or equitable proceedings based on such claim, dispute or other matter in question, would be barred by the applicable statute of limitations. No arbitration arising out of or relating to this Agreement shall include, by consolidation or joinder or in any other manner, an additional person or entity not a party to this Agreement, except by written consent of the parties hereto, containing a specific reference to this Agreement and signed by the entity sought to be joined. Consent to arbitration involving an additional person or entity shall not constitute consent to arbitration of any claim, dispute or other matter in question not described in the written consent or with a person or entity not named or described therein. The foregoing agreement to arbitrate and other agreements to arbitrate with an additional person or entity duly consented to by parties to this Agreement, shall be specifically enforceable in accordance with applicable law in any court having jurisdiction thereof. The award rendered by the arbitrator shall be final, and judgment may be entered upon it in accordance with applicable law in any court having jurisdiction thereof. Such arbitrator shall identify the substantially prevailing party and shall include legal fees and expenses for the substantially prevailing party. This provision does not apply to the extent inconsistent with applicable state law regarding the transfer of structured settlement payments. In such case any disputes between the parties will be governed in accordance with the laws of the domicile state of the payee and the domicile state of the payee is the proper venue to bring any cause of action arising out of a breach of the agreement. G. I hereby grant to Assignee an Irrevocable Power of Attorney with full powers of substitution to do all acts and things that I might do regarding the Assigned Payments and any and all rights I have under the Settlement Agreement, including, without limitation, the power to endorse checks, drafts or other instruments, the power to alter, edit and change payment instructions and/or beneficiary designations and any other act which, in the sole discretion of Assignee as my Attorney-in-Fact is necessary or expedient for it to obtain all of the benefits of the bargain contemplated by this transaction. This power of attorney is coupled with an interest and shall survive my death or disability. H. In the event that prior to the consummation of the transaction contemplated hereby I receive any of the Assigned Payments, or any portion thereof, the Assignment Price shall be reduced in like amount and the terms of this Agreement regarding the payments to be assigned shall be deemed to be adjusted accordingly. In the event Assignee receives or otherwise comes into possession of any of the Periodic Payment(s) or portion(s) thereof which are not included in the payments being absolutely assigned to Assignee hereunder, Assignee shall forward such amount(s) to me at the address set forth above within seven (7) days of receipt of such amount(s). I. Assignee shall be entitled to discharge any adverse claims against Assignor or any of the Assigned Payments whether or not such adverse claims are disclosed. Assignee may, provided Assignee furnishes prior written notice to Assignor, pay any and all amounts necessary or, if the Assignment Price has been deposited into an escrow account, instruct the escrow agent to pay any and all amounts necessary to discharge such liens or other adverse claims, and the Assignment Price shall be reduced by the amount of any such payment. Adverse claims may include disclosed amounts to be deducted by Assignee from the Assignment Price to pay Assignee, as servicer for Peachtree Finance Company, LLC, to enable Assignor to obtain Peachtree Finance Company, LLC's release of its encumbrance on a portion of the Assigned Payments, which portion of Assigned Payments relate to prior transfer transaction(s) consummated prior to the effective date of the applicable transfer act(s) which encumbrance must be released for the transaction contemplated herein to be consummated. J. Since I know that it will take some time for the Settlement Obligor and the Annuity issuer to receive and process my court order once it is granted, I hereby authorize you to hold an amount equal to the sum of the first six payments assigned by me or 20% of the first lump sum payment assigned by me to you under this Agreement until such time as the Settlement Obligor and the Annuity issuer acknowledge the terms of my court order. At such time, I understand that you will send the escrow to me minus any payments that the Annuity Issuer inadvertently sent to me while the Settlement Obligor and the Annuity Issuer were processing my court order. K. This Agreement shall take effect on the date it is signed by me (the Assignor) or on such later date prescribed by applicable statutory law. L. All disclosure statements are a matedal part of this Agreement and shall be read in pad mateda herewith. In witness whereof I hereunto set my hand. COUNTY OR CITY OF On this -I~ day of r/~/q--y ,200_~_, the above person, known to me to be the person whose name is subscribed to this instrument, personally appeared before me and acknowledged to me that he/she has read this instrument and that the instrument has been executed by him/her. Notary Itl ,/P~'~ASE DO NOT EXECUTE My Commissio.,n expires on//?/'J //~"- THIS DOCUMENT UNTIL Accepted: ~_.~,~ ~ 05/16/2003 Settlement Funding, L.L.C. Title: Date: ~"]/q jo Authorization For Deductions Pursuant to the terms of the Agreement, Assignee may deduct from the Purchase Price the full amount due to any and all third party creditors, judgment holders, holders of child support obligations, the holder of any other outstanding lien or claim (collectively the "Judgments/Claims") including life insurance policy payment(s) or any attorney fees in connection with the consummation of this transaction. If Assignee is able to satisfy in full the Judgments/Claims for less than the full amount due, Assignee shall be entitled to keep the difference between the amount deducted and the amount actually paid. Authorization to Conduct Credit and Criminal Backaround Checks I, Elizabeth K. Long aka Elizabeth K. Lehman residing at 124 Altoona Ave., Enola, PA 17025, hereby authorize Settlement Funding or any of its agents or designees, to conduct any and all criminal background reports, searches or checks and any and all credit history reports, searches or checks which it in its sole discretion and judgment deems necessary or advisable. Authorization to Release Information I, Elizabeth K. Long aka Elizabeth K. Lehman, hereby request and authorize Transamerica Annuity Service Corporation, Transamerica Occidental Life Insurance Company, or any of their successors, assigns, designees, agents or administrators, or my attorney to disclose, or any other parties that may possess any information deemed necessary by Settlement Funding, or any of its agents or designees to be disclosed, make available and furnish to Settlement Funding, or any of its agents or designees any and all information pertaining to my personal injury settlement as set forth in a certain Release dated March 7, 1990, or any other documents deemed neceesary by Settlement Funding, or any of its agents or designees. I specifically direct that Transamerica Annuity Service Corporation, Transamerica Occidental Life Insurance Company, or any of their successors, assigns, designees, agents or administrators or any other person or entity that this authorization is given to, cooperate with Settlement Funding or any of their agents or designees regarding disclosure of information pertaining or related to my settlement or other required documentation. Please provide copies via fax or otherwise of any and all documents requested by Settlement Funding or their agents or designees regarding my settlement. Elizabe)h'K. L~n~'~ak~ EliT.~l~eth K. Lehman /~ , / --_ AFFIDAVIT I, Elizabeth K. Long aka Elizabeth K. Lehman, of full age, being duly sworn according to law, upon my oath depose and say: 1. I currently reside at 124 AItoona Ave., Enola, PA 17025. I am the recipient of certain guaranteed payments under a structured settlement dated May 4, 1990. The entity presently obligated to make the payments due under the structured settlement is Transamerica Annuity Service Corporation. In order to fund its payment obligations under the structured settlement Transamerica Annuity Service Corporation purchased an annuity coniract 900466 from Transamerica Occidental Life insurance Company. 3. I voluntarily entered into an Absolute Assignment and UCC Article 9 Security Agreement (the "Agreement") dated May 16, 2003 with Settlement Funding, LLC d/b/a Peachtree Settlement Funding ("Peachtree"). Under that Agreement, I agreed to sell and assign to Peachtree the following payments due to me under the structured settlement: 78 monthly payments each In the amount of $430.00 commencing on September 1, 2003 through and including February 1, 2010 (the "Assigned Payments"). 4. I understand I will forego receipt of the Assigned Payments under the Agreement. I understand that my beneficiaries/heirs and I will no longer receive any of the Assigned Payments or any portion of the Assigned Payments. I understand that all of the Assigned Payments will go to Peachtree or the assigns of Peachtree. 5. I also understand that this Affidavit is submitted for use in the court approval process initiated by Peachtree and myself to seek court approval of the transfer of payments to Peachtree. 6. I also received from Peachtree a Disclosure Statement detailing the terms of the Agreement, which I signed and returned to Peachtree. I carefully reviewed the Disclosure Statement and fully and completely understand all terms of the Disclosure Statement. 7. In the Disclosure Statement, Peachtree advised me to seek professional advice regarding the Agreement from an attorney, accountant or other professional of my choice. A. ~-.~(-.Jnitials: I chose not to retain or consult with such a professional. I understand that at all times, including at the time I entered the Agreement and received the Disclosure EXHIBIT "C" Statement, and for all times, I knowingly waive the right to seek or obtain for myself independent professional advice regarding the Agreement. B. __ Initials: I chose to retain or consult with an attorney, accountant or other licensed professional advisor of my choice. 8. I am 38 years old and have supported myself for the last 20 years. I have no mental or physical disabilities that would prevent me from working. I am employed as a waitress by Tavern on the Hill in Enola, Pennsylvania and earn an annual salary of $24,000.00. My husband, Keith Long, is employed as a manager by Verdelli Farms in Hershey, Pennsylvania and earns an annual salary of $31,200.00. I therefore have other sources of income other than the monthly structured settlement payments that I wish to assign and transfer to Settlement Funding. 9. I have thoroughly considered this transaction, my alternatives and the use to which I will put the proceeds of this sale. I have considered the impact of this transaction on my dependents and myself. My dependents and I will be able to improve our present standard of living if I am permitted to transfer and assign my right to receive the Assigned Payments to Settlement Funding as described in this Affidavit. After considering these factors I believe that this transaction is in my best interest and the best interest of my dependents. 10. I intend to use the proceeds I receive from Peachtree under the Agreement to put a down payment on a house. I have been looking at homes in Campville, Pennsylvania and the home I will buy will have a purchase price of approximately $160,000.00. By placing a down payment, around $7,000.00 I should ensure that I receive a favorable interest rate and this should allow me to have a very reasonable mortgage payment and free up more of my income to provide for myself and improve my life. Purchasing a house will provide security for myself and make it easier to continue to provide for my famiys comfort and well being. Also, with a home I will be building equity and will save some money on taxes since I can take advantage of the home mortgage interest tax deduction. This is much better than throwing away money away on rent with nothing to show for it. In addition, by doing this now I can lock in a very favorable mortgage interest rate since they are presently at historically Iow levels. I do not have the financial wherewithal to pay for the aforementioned with my current finances. I have completed a previous transaction with Peachtree and was quite satisfied with my dealings with this company. Therefore I have decided to pursue another transaction with this company to obtain the monies I need to put a down payment on a home. 11. Further, approximately $9,378.02 of the proceeds received from this transaction will be used to enable me to obtain Peachtree Finance Company, LLC's release of its encumbrance, on a portion of the payments related to prior transfer transactions that were consummated prior to the effective date of the applicable Transfer Act(s). In essence what I am doing is paying off a pre-existing obligation by "re-financing" my settlement payments, which were sold in a transaction that was consummated before the effective date of the Transfer Act(s). 12. I will not be using any portion of the proceeds from the Agreement for day-to-day expenses. Other than as listed herein, I have never assigned, sold or pledged any of the structured settlement payments that I am receiving from the aforementioned structured settlement, to any party or entity. In addition, I have two children; Brianna Michelle Saytar age six and Keith Alan Long II age three, both of whom live with me. I do not believe that approval of this transfer will negatively affect my family's standard of living, make it difficult to pay our living expenses or otherwise harm us in any way. My employment income of $2,000.00 a month along with my husband's employment income of $2,600.00 a month is sufficient to support both my family and myself. I have determined that the proceeds from the Agreement with Peachtree is in my best interest and will improve the quality of life for me and my family. · abeth K. ~ong/~zabet~. Lehman Sworn and Subscribed before me this My Commission Expires: [t)]/~t/O~~'- day ~ vt,~-? ,2003. IPLEASE DO NOT EXECUTE [ THIS DOCUMENT UNTIL 05/16/2003 PENNSYLVANIA TRANSFER DISCLOSUR;; Payee: Elizabeth lC Long aka Elizabeth K. Lehman; resident of: PA A. Amounts and due dates of the structured settlement payments to be transferred: 78 monthly payments In the amount of $430.00 commencing on September 1, 2003 through and Including February 2, 2010 B. Aggregate amount of Such payments: $33,540.00 C. (1) Discounted present value of such payments: $29,289.51 (2)The discount rate used In determining such discounted present value: 3.80 percent as of May 5, 2003 D. Gross amount payable to the Payee in exchange for such payments: $18,856.58 Item.!zed listing of all brokers' commissions, service charges, appqcation or processing fees, closing costs, filing or administrative charges, legal fees, notary fees and other commissions, fees, costs, expenses and charges payable by the Payee or deductible from the gross amount otherwise payable to the Payee: Legal Fees: $2,000.00 and Processing Fcc: $200.00 F. Net amount payable to Payee attar deduction of all commissions, fees, costs, expenses and charges described above: $16,656.58 minus any advances made to the Payee or on Payee's behalf for notary and fax fees or any other advances made to. Payee against the amount payable to Payee' G. The quotient, expressed as a percentage, obtained by dividing the net payment amount by the discounted present value of the payments: 56.87% H. Amount of any penalty and the aggregate amount of any liquidated damages, inclusive of penalties, payable by the Payee In the event of any breach of the transfer agreement by the Payee: NONE I except $9,378.02 will be deducted from the gross amount payable and will be paid to Settlement Funding, LLC, .as servicer for Peachtree Finance Company, LLC ("Peachtree Finance"), to enable Payee to obtain Peachtree Flnance's release of its encumbrance, on a portion of the payments set forth in section A above, relating to prior transfer transaction(s) that were consummated prior to the effective date of the applicable Transfer Act(a). EXHIBIT D Payee acknowledges receipt of, and acknowledges to have read and understood, the above disclosure statement and information required to be disclosed by Payee's applicable state statute(s). Initials: ~J~ By signing below you are confirming that you received a copy of this disclosure at least 10 days prior to receipt of this contract. Eliza~eth K. I~hg a~ Elizabeth K. L/ehm~'n '~/ "- Date; / NOTICE (PA) Payee: Elizabeth K. Long aka Elizabeth K. Lehman IMPORTANT NOTICE: You are strongly urged to consult with an attorney who can advise you of the potential tax consequences of this transaction. By signing below you are confirming that you received a copy of this disclosure at least 10 days prior to receipt of this contract. Eliza~th/K. Lon~k, E~rabeth K. ~ Date / / EXHIBIT "E" ACKNOWLEDGEMENT (PA) payee: Elizabeth K. Long aka Elizabeth K. Lehman (Please Initial one of the following statements which applies to you) I have received independent legal advice regarding the implications of the transfer, including considerations of the tax ramifications of the transfer. (Initials) I expressly waive independent legal advice regarding the implications of the transfer, including considerations of the tax ramifications of the transfer. (Initials) Elizpeth~. Lo~ aka~hzabeth K. Lehman EXHIBIT"F" 26 USCA § 5891 Page 1 26 U.S_C.A. § 5891 I.R-C. § 5891 UNITED STATES CODE A~NNOTATED TITLE 26. INTERNAL REVENUE CODE SUBTITLE E--ALCOllOL~ TOBACCO~ AND CERTAIN OTHlgR EXCISE TAXES CHAPTER 55--STRUCTURED SETTLEMENT FACTORING TRANSACTIONS · Copr. © West Group 2002. No claim to Orig. U.S. Govt. Works. Cmxent thxough P.L_ 107-136, approved 1~24-02 § 589l. Structured settlement factofin~ t~ansactions (a) Imposition of tax.--There is hereby xrap°sed on any pemon who acqu/res directly or indkectly structured settlement payment rights in a structured settlement factoring transaction a ~x equal to 40 percent of the factoring discount as determined under subsection (c)(4) with respect to such factoring transaction_ (b) Exception for certain approved transactions.-- (1) In generaL--The tax under subsection (a) shall not apply in the case of a structured settlement factoring transaction in which the ll~ansfer of s~actured settlement payment tights is approved m advance in a qualified order. (2) Qualified order.--For purposes of this section, the term "qualified order" means a £mal order, judgraent, or decree which-- (A) fmds that the transfer described in paragraph (1)-- (i) does not contravene any Federal or State statute or the order of any court or responsible administrative authority, and (ii) is in the best interest of the payee, taking into account the welfare and support of the payee's dependents, and (B) is issued- (i) under the authority of aa applicable State statute by an applicable State court, or (ii) by the respons~le administrative authority (if any) which has exclu§ive jurisdiction over the underlying action or proceeding which was resolved by means of the structured settlement_ (3) Applicable State statute.-~For purposes of this section, the term "applicable State statute~ means a statute providing for the entry of an order, judgment, or decree described in paragraph (2)(A) wkich is enacted by-- (A) the State in which the payee of the structured settlement is domiciled, or CB) if there is no statute described in subpam~aph (A), the State in which either the pa~ to the structured settlement (including ma assignee under a qualified assignment under section 130) or the person issuing the funding asset for the structured settlement is domiciled or has its principal place of business. (4) Applicable State court.--For purposes of this section-- (A) In generaL--The term "applicable State court" means, with respect to any applicable State statute, a court of Ca>pr. © West 2002 No Claim to Orie. U.S. Govg. Wor~ EXHIBIT "O" ~6 USCA § 5891 Page2 26 U.S.C.A_ § 5891 the State which enacted s-ach statute. CB) Special rule.--hi the case of an applicable State statute described in paxagraph (3)(B), such term also includes a court of the State in which the payee of the structured settlement is domiciled, (5) Qualified order diSpositive_--A qualified order shall be treated as diepositive for proposes of the except/on under this subsection. (c) Definitions.-For puxposes of this section-- (1) Structured settlement.--The term "slractured settlement" means an arrangement-- (A) which is established by-- (i) suit or agreement for the periodic payment of damages excludable from the Boss income of the rec/pient undex section 104(a)(2), or (ii) agreement for the periodic payment of compensation under any workers' compensation law excludable from the gross income of the recipient under section 104(a)(1), and (B) Under which the periodic paYment~ are- (i) of the character described in subparagraphs (A) and (B) of section 130(c)(2), and (ii) payable by a person who is a party to the suit or agreement or to the workers' compensation claim or by a person who has assumed the habihty for such periodic payments under a qualified assi~ament m accordance with section 130. (2) Structured settlement payment rights.-Thc term "slructured settlement payment rights" means rights to receive payments under a structured settlement (3) Structured settlement factoring transaction_-- (A) In general.--The term "structured settlement factoring transaction" means a transfer of structured settlement payment rights (including portions of structured settlement payments) made for consideration by means of sale, assi~mmaent, pledge, or other form of encumbrance or alienation for consideration. Exception.-Such term shall not include-- (i) the creation or perfection of a security interest in shaxctured settlement payment rights under a blanket security agreement entered into with an insured depository institution in the absence of any action to redirect the structured settlement payments to such institution (or agent or successor thereof) or otherwise to enforce such blanket security intexest as agai~t the slxuclmed settlement payment fights, or (ii) a subsequent transfer of structuxed settlement payment rights acquired in a struc~red settlement factoring transaction_ (4) Factoring discounL--The term "factoring discount" means an amount equal to the excess of-- (A) tire aggregate undiscounted amount of structured settlement payments being acqmred in thc structured settlement factoring transaction, over {B) the total amount actually paid by the acquixer to the person from whom such structured settlement payments are acquired. (5) Responsible administrative authoriiy.--The term "responsible administrative authority" means the Copt. © West 2002 No Claim to Orig. U.S. Govt. Works 2~USCA § 5891 26U.S.C.A. § 5§91 Page3 a~mmish~a~ve autho.,5~ whm ',, - . . -!' h had l-fisd/cfinn means of the ~tmcmred settlement, over the underlying at.on or proceedkng which was resolved by (6) State.--The term "Slate" includes the Commonwealth of Puerto R/co and any possession of the Umted States. (d) Coordination with other provisions.-- (1) In generaL--If theapplicable requirements of sections 72, 104(a)(1), 104(a)(2), 130, and 461(h) were satisfied at the time the s~xuctured settlement involvine structured settle,,,~* ....... --,- . settlement factonng transaction shall not affect the application of the provisions of such sections to the parties to the structured settlement (including an assignee under a qualified assignment under section 130)/n any taxable year. (2) No withholding of tax.--The provisions of section 3405 regarding withholding of tax shall not apply to the pexson malomg the payments in the event ora structured settlement factoring transaction. cP.~Drr(s) 2002 Pocket Part (Added Pub. L. 107-134, Title I .~ 115(a), Jan. 23, 2002, 115 Stat. 2436.) <General Materials (GM) - References, Annotations, or Tables> }IISTORICAL AND STATUTORY NO3UES Revision Notes and Legislative Reports 2002 Acts. Statement of President, see 2001 U.S. Code Cong. and Adm. News, p. 1812. Effective and Apphcabihty Prowsinns 2002 Acts. Pub. L. 107-134~_Title I, § ~ Jan_ 23, 2002, I 15 Stat 2438, provided that: "(1) In general.--The amendments made by this section [enacting this chapter] (other than the provisions of section 5891 (d) of the Internal Revenue Code of 1986, as added by this section [26 U.S.C.A. § 5891 (d)]) shall apply to structured settlement factoring transactions (as deemed in section 5891(c) of such Code (as so added) [26 U.S.C.A. § 5891(c)]) entered into on or after the 30th day following the date of the enactment of th/s Act [Jan. 23, 2002]. "(2) Clarification of existing law.-Section 5891(d) of such Code (as so added) [26 U.S_C_A_ § 5891(d)] shall apply to structured settlement factoring h'ansactions (as defined in section 5891(c) of such Code (as so added) [26 U.S.C.A. § 5891(c)J) entered into before, on, or after such 30th day. "(3) Transition rule.--In the case of a structured settlement factoring ~ansaction entered into during the period beginning on the 30th day following the date of the enactment of this Act [Jan. 23, 2002] and ending on July 1, Coin. © West 2002 No Claim to Orig. U.S. Govt Works VERIFICATION I, Elizabeth K. Long, a/k/a Elizabeth K. Lehman, have read the foregoing Petition to Transfer Structured Settlement Payment Rights, and hereby aver that the statements contained therein are true and correct to the best belief. This Verification is made Pa.C.S.A. Section 4904 authorities. of my knowledge, information and subject to the penalties of 18 relating to unsworn falsification to Dated: ~iz~beth ~{. Long~/ ~ a/k/a Elizabeth K. Lehm~ IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION IN RE: PETITION OF ELIZABETH : NO. K. LONG, A/K/A : ELIZABETH K. LEHMAN TO : TRANSFER STRUCTURED : SETTLEMENT PAYMENT : RIGHTS : F I N~-L ORDER of 2003 Rights pursuant to the Structured Settlement Protection Act, 40 P.S. ~ 4001-4009, it appearing to this Court that proper notice of the filing and presentation of this Petition was given to the Settlement Obligor and to the Annuity Issuer {at the addresses set forth in Paragraph 4 of the Petition); and it further appearing that Settlement Obligor and Annuity Issuer have not answered or otherwise appeared; after due consideration, this Court finds as follows: Court has subject matter and personal 1. This jurisdiction. 2. The transfer complies with the Structured Settlement Protection Act, 40 P.S. requirements of the ~ 4001-4009, and AND NOW, this day of , 2003, upon presentation of the Petition of Elizabeth K. Long, a/k/a Elizabeth K. Lehman to Transfer Structured Settlement Payment will not contravene other applicable Federal or State or regulations or any applicable workers' compensation claims. 3. Not less than ten (10) statutes law limiting the transfer of days prior to the date upon which the Petitioner first incurred any obligation with respect to the transfer, the Transferee, Settlement Funding, LLC provided the Petitioner a disclosure statement setting forth in boldface, minimum 12-point size type all of the following: The amounts and due dates of the structured settlement payments to be transferred. b. The aggregate amount of such payments. The discounted present value of such payments, together with the discount rate or rates used in determining such discounted present value. The gross amount payable to the Petitioner in exchange for such payments. An itemized listing of all brokers' commissions, service charges, application or processing fees, closing costs, filing or administrative charges, legal fees, notary fees and other commissions, fees, costs, expenses and charges payable by the Petitioner or deductible from the gross amount otherwise payable to the Petitioner. The net amount payable to the Petitioner after deduction of all commissions, fees, costs, expenses, and charges described above. The quotient, expressed as a percentage, obtained by dividing the net payment amount by the discounted present value of the payments. event of any breach of agreement by the Petitioner. 4. The Petitioner has established that her best interests, taking into account of the Petitioner's dependents, Order of Court. The amount of any penalty and the aggregate of any liquidated damages, inclusive of penalties, payable by the Petitioner in the the transfer if any, the transfer is in the welfare and support at time of entry of this 5. The Petitioner has her Affidavit (Exhibit "C"), (Exhibit "F"), independent implications of the transfer, ramifications of the transfer. expressly waived, as reflected in as well as in her Acknowledgement legal advice regarding the including consideration of the tax 6. The transfer has been expressly approved in writing by the Petitioner, and at the time the Petitioner and the Transferee proposed to enter into the Transfer Agreement, a favorable tax result was in effect. The approvals of the Annuity Issuer and Settlement Obligor are not required. 7. The Petitioner has given written notice pursuant to 40 P.S. ~ 4003 (a) (6) of the Transferee,s name, address, and taxpayer identification number to the Annuity Issuer, and the Structured Settlement Obligor, and a copy of the written notice has been filed with the Court. 3 8. Prior to entering Petitioner Was provided with into the Transfer Agreement the a written notice on a Separate sheet that Contains the following, in boldface, minimum 12-point Size type required by 40 P.S. ~ 4003 "~b~POR~AN~ NO~c~: You are Strongly Urged to COnsult with an attorney who can advise you the potential tax COnsequences of transaction.,, of this 9. Not less than 20 days prior to the Scheduled hearing on the petition for authorization of a transfer of Structured settlement payment rights Under 40 P.S. ~ 4003, the Petitioner filed with the COurt and Served on the Transferee a nOtice of the proposed transfer and the application for its . aUthOrzzation, including in the notice a Copy of the Petitioner,s Petition to the Court, a COpy of the transfer agreement, a COpy of the disclosure Statement required Under 40 P.S. ~ 4003, notification that the Transferee, the Structured the annuity iSSuer is settlement obligor and/or entitled to SUpport, Oppose or Otherwise respond to the Petition, either in person or by COunsel, by Submitting written COmments to the the hearing; and notification of hearing and the manner in which and the time by which responses to the petition must be filed. COurt or by Participating in the time and Place of the written 10. The Transfer Agreement does not authorize Transferee or any other party to confess judgment or consent to entry of judgment against Petitioner. NOW THEREFORE, in consideration of the foregoing findings, it is hereby ORDERED, ADJUDGED and DECREED that the Petition to Transfer Structured Settlement Payment Rights pursuant to the Structured Settlement Protection Act, 40 P.S. §§ 4001-4009 be, and hereby is, GRANTED as follows: A. The transfer by Petitioner, Elizabeth K. Long, a/k/a Elizabeth K. Lehman, to Transferee, Settlement Funding, LLC, of the Transferred Payments (78 monthly payments, each in the amount of $430.00, commencing on September 1, 2003 through and including February 1, 2010) is APPROVED. B. The Settlement Obligor shall direct the Annuity Issuer to send the Transferred Payments to Settlement Funding and its successors and/or assigns at the following address: P.O. Box 116476 Atlanta, GA 30368-6476 or such other address as Settlement Funding and its successors and/or assigns may designate upon written notice to Settlement Obligor, and the Annuity Issuer. Settlement Obligor and the Annuity Issuer shall not be required to change the address for the Transferred Payments absent payment of a reasonable 5 administrative fee, which shall not be charged to or paid by the Payee. C. Settlement Funding, LLC and its successors and/or assigns shall defend, indemnify and hold harmless (collectively, the "Indemnity Agreement") the Settlement Obligor, and the Annuity Issuer, from any claims, liability or damages, including, but not limited to, reasonable costs and attorneys' fees, arising from or in connection with {a) any disclosures made in or related to this Order of Court; (b) compliance by the Settlement Obligor, and the Annuity Issuer, with this Order of Court; and/or {c) the Transferee's failure to comply with the Act. As security for any amounts owed under the Indemnity Agreement, Settlement Funding, LLC grants, and Petitioner, Elizabeth K. Long, a/k/a Elizabeth K. Lehman, grants, to Settlement Obligor, and the Annuity Issuer, all rights of offset, set-off, and recoupment with respect to the Transferred Payments. D. Settlement Funding and Petitioner, Elizabeth K. Long, the terms of this Order of facts, representations and Nothing in this Order of and the Annuity Issuer, transfer of structured a/k/a Elizabeth K. Lehman, agree that Court are based exclusively upon the circumstances of this particular case. Court shall preclude Settlement Obligor, from contesting any other proposed 6 settlement payment rights, whether on the basis of apPlicable law or fact. E. This Order is entered without prejudice to the rights of Settlement Obligor or Annuity Issuer, and the Court makes no findings regarding the enforceability of any non-assignment provision(s) COntained in the Structured settlement agreement or related documents; provided, however, that the transfer of the Transferred Payments, as provided in this Order shall be valid and enforceable against Settlement Obligor, and the Annuity Issuer, in accordance with its terms. This Order shall not be Construed as legal precedent nor be cited as legal authority pertaining to any matter. Nothing COntained in this Order of Court shall be deemed to afford Petitioner, Elizabeth K. Long, a/k/a Elizabeth K. Lehman, and rights of OWnership or COntrol otherwise Settlement Funding, LLC any of the annuity, or shall affect the exclusive OWnership and control of the annuity by Settlement Obligor. Annuity Issuer, liability F. Pursuant to the Act, this Obligor, and the immune from all Court orders that Settlement are hereby discharged and to the Petitioner, any person asserting a legal interest through the Petitioner, or to any Other person or entity (except Settlement Funding, LLC per the terms of this Order) for the Transferred Payments or for disclosures made in or related to this Order. G. Compliance with the the Conditions set responsibility of Transferred Payments, Annuity Issuer Shall requirements forth in the the Transferee and neither bear any liability arising from, non-compliance or failure to fulfill those Conditions. H. Ail Transferee~ Issuer shall every respect. interested the Structured abide by the This Order Shall and fulfillment of Act shall be Solely the in the transfer of the Settlement Obligor nor the responsibility for, or any with those requirements Order,, for pUrposes of 26 U.S.c.A. of this Order shall be Served Proof of Service shall remain with parties, including Petitioner, the Settlement Obligor, and the Annuity terms of the Transfer Agreement in be COnsidered a "qualified ~ 5891. NOtice of the entry by Petitioner on all parties and shall be filed with the Court. Jurisdiction this Court. BY THE COURT: I fOregoing Certify that a PETITION TO RIGHTS was Served mail, On the return-reCeipt Parties day of June, 2003. Postage requested, by Pre-Paid TranSamerica Annuity S Structured Settl ~ ervic 400 ~., e~lents & ~ e Cor~_ ~ west M~ Z~Com= ~zation .aOuisVi?~ ~et Stre ~ ~nuiti~.~ (,,Settle~ ~ U~ligor,,) Tr%~,~fica OCcid~ Sp~ed Sett~''tal Life 400-~/TED FOR ~ancome An -.~°mPan~z ~ ~est ~?uis~ill=~t Stree~ ~URPOSEs nnUity ~ ~0202 aSSUer,,) Jason R. Sutherlaud, . Structured D 6501 pP~eachtree s~ettle~ents~ector ~rk of ~ _ UUtlemen~ ~ Lega1 ~oca Rat correct STRUcTuRED copy SETTLEMENT listed below, Elizabet a/k/a Eliza~h K. Long Eno/a, ~. venue retitioner,~0 of the via Certifie on this ~ZZabeth ~ =czti~_ a/k/a El'i'z~. Long, '~'~er, ~oeth K. Lehman IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CWIL DWISION IN RE: PETITION OF ELIZABETH K. : No. 03-2770 of 2003 LONG A/K/A ELIZABETH K. LEHMAN TO TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS . STIPULATION AND ORDER OF COURT WHEREAS, pursuant to 40 P.S. § 4001, et. seq. (the "Act"), this cause came before the Court upon the Petition (the "Petition" or "Application") filed by Petitioner Elizabeth K. Long a/k/a Elizabeth K. Lehman a/k/a Elizabeth Kay Lehman a/k/a Elizabeth Lehman a/k/a Elizabeth Lockie Long ("Payee" or "LONG"), by and through her counsel, Ronald E. Reitz, for Court Approval of a transfer of Structured Settlement Payment Rights of LONG to Settlement Funding, LLC ("Settlement Funding" or "Transferee"); WHEREAS, Transamerica Annuity Service Corporation ("Structured Settlement Obligor" or "TASC"), as owner of the structured settlement annuity No. 900466T001Z (the "Annuity") and Transamerica Occidental Life Insurance Company ("Annuity Issuer" or "TOLIC"), as issuer of the Annuity, have not consented to nor opposed the proposed transfer (Structured Settlement Obligor and Annuity Issuer are sometimes collectively referred to as "Transamerica"); and NOW, THEREFORE, UPON HEARING, IT IS HEREBY STIPULATED, AGREED AND ORDERED AS FOLLOWS: 1. The Recitals are incorporated herein by reference and made a part of this Stipulation and Order of Court (the "Stipulation and Order"). 2. The Court has jurisdiction over this matter and the laws of the Commonwealth of Pennsylvania apply and govern this matter. 3. After a notice, hearing and testimony by the Payee, in person, the Court finds that: A. The transfer complies with the requirements of this act and does not contravene any other applicable federal or state statutes or regulations or any applicable law limiting the transfer of workers' compensation claims or the order of any court or responsible administrative authority. B. The Court finds, and Payee and Settlement Funding represent and warrant that not less than 10 days on which the Payee first incurred any obligation with Settlement Funding with respect to the Absolute Assignment and UCC Security Agreement (the "Purchase Agreement" or "Transfer Agreement) dated May 19, 2003, the Transferee provided to the Payee a disclosure statement in bold type, no smaller than 14 points in size, which specified: (1) The payments which are the subject of this proceeding and the transaction at issue include, to-wit: 78 monthly payments of $430.00 each, beginning on 9/1/2003 and ending on 2/2/2010 (all the foregoing are collectively referred to as the "Transferred Payments"); (2) The aggregate amount of such payments is $33,540.00; (3) The discounted present value of such payments is $29,289.51, together with the discount rate of 3.8% (or rates) used in determining such discounted present value; (4) The gross amount payable to the Payee in exchange for such payments is $18,856.58; (5) An itemized listing of all brokers' commissions, service charges, application or processing fees, dosing costs, filing or administrative charges, legal fees, notary fees and other commissions, fees, costs, expenses and charges payable by the Payee or deductible from the gross amount otherwise payable to the Payee are $2,000.00 for legal fees and $200.00 for processing fees; -2- warrant, that: Co (6) The net mount payable to the Payee a~er deduction of all commissions, fees, costs, expenses and charges described in subparagraph (5) is $16,656.58~; (7) The quotient, expressed as a percentage (which is 56.87%), obtained by dividing the net payment amount by the discounted present value of the payments; and (8) The amount of any penalty and the aggregate amount of any liquidated damages, inclusive of penalties, payable by the payee in the event of any breach of the transfer agreement by the payee (which there are none). The Court finds, and Settlement Funding and the Payee represent and (1) LONG has waived independent legal advice regarding the implications of the transfer, including consideration of the tax ramifications of the transfer; (2) Except as expressly provided for in this Stipulation and Order, the Transferred Payments are not subject to the claims of any person or entity; (3) None of the Transferred Payments have been sold, pledged or alienated in any way; (4) LONG is married and has the following "dependents", as that term is defined in the Act: Keith Alan Long (Spouse), Brianna Michelle Savtar (aRe 6) and Kaith Alan Long, II (age 3); (5) LONG is not required by a court order, judgment, or decree to pay child support or alimony; and (6) LONG has confirmed receipt of the Disclosure Statement, as evidenced by her signature on a copy of the disclosure statement. The Payee has established that the transfer is in the best interests of the Payee or her dependents. I $9,378.02 will be deducted from the gross amount payable end will be paid to Settlement Funding, LLC, as servicer for Peachtree Finance Company, LLC ("Peachtree Finance"), to enable Payee to obtain Peachtree Finance's release of it alleged enncumbrence, on a portion of the payments, relating to prior transfer transaction(s) that were allegedly consummated prior to the effective date of the applicable Transfer Act(s). -3- E. The transfer is in the best interest of the Payee, taking into account the welfare and support of the Payee's dependents F. The Payee has received or expressly waived in a separate written acknowledgment signed by the Payee, independent legal advice regarding the implications of the transfer, including consideration of the tax ramifications of the transfer. G. The Payee has given written notice of the Transferee's name, address and taxpayer identification number to the annuity issuer and the structured settlement obligor and has filed a copy of such notice with the court. H. Prior to entering the Transfer Agreement under the Act, the Payee was provided with a written notice on a separate sheet that contains the following, in bold prim and at least 12-point type: IMPORTANT NOTICE: You are strongly urged to consult with an attorney who can advise you of the potential tax consequences of this transaction. I. The court of common pleas of the judicial district in which the Payee is domiciled, which for this petition is the Philadelphia County Court of Common Pleas, has jurisdiction over this petition as required under the Act. Not less than 20 days prior to the scheduled hearing on this petition for authorization of a transfer of structured settlement payment rights under the Act, the Payee filed with the court and served on the Transferee a notice of the proposed transfer and the application for its authorization, including in such notice a copy of the Payee's petition to the court, a copy of the Transfer Agreement, a copy of the disclosure statement required under the Act, notification that the Transferee, the structured settlement obligor or the annuity issuer is entitled to support, oppose or otherwise respond to the Payee's petition, either in person or by counsel, by submitting written comments to the court or by participating in the -4- hearing and notification of the time and place of the hearing and notification of the manner in which and the time by which written responses to the petition must be filed, which was not less than 20 days after service of the Payee's notice, in order to be considered by the court. 4. Based on the foregoing findings, and being satisfied that the proposed transfer satisfies all applicable statutory requirements as set in the Act, it is hereby ORDERED, ADJUDGED and DECREED that the Application is GRANTED as follows: A. The transfer by LONG to Settlement Funding of the Transferred Payments No approval is given to the transfer of any other structured settlement is hereby APPROVED. payment rights. B. Notwithstanding anything to the conlxary elsewhere, only the following Transferred Payments, including to-wit: · monthly payments of $430.00 each, beginning on 9/1/2003 and ending on 2/1/2010; shall be sent by Transamerica to Settlement Funding to the following address: Settlement Funding, LLC, P.O. Box 101033, Atlanta Georgia, 30392-1033, or such other address as Settlement Funding and its successors and/or assigns may designate upon written notice to Transamerica2. Transamerica shall not be required to change the address for any of the Transferred Payments absent payment of a reasonable administrative fee, which shall not be charged to or paid by the Payee. In no event shall Transamerica be required to divide or split any of the Transferred Payments between two or more transferees or assignees. Further, any such change of address or assignment by Transferee of its rights in the Transferred Payments shall in no way relieve the Transferee of its obligations hereunder. 2 LONG hereby consents to, and the Court orders that Structured Settlement Obligor and Annuity Issuer make the Transferred Payments payable to Settlement Funding or its successors and assigns. -5- C. The death of LONG prior to the due date of the last Transferred Payment shall not adversely affect the transfer of the Transferred Payments from LONG to Settlement Funding, and LONG understands she is giving up her rights to the Transferred Payments. D. Settlement Funding and its successors and assigns shall defend, indemnify and hold harmless (collectively, the "Indemnity") Transamerica fi.om any claims, liability or damages, including, but not limited to, reasonable costs and attorneys' fees, arising from or in connection with (a) any disclosures made in or related to this Order; and (b) compliance by Transamerica with this Order; and/or (c) the Transferee's failure to comply with the Act. Settlement Funding shall also pay a $500 administrative fee to the Annuity Issuer in connection with the closing of the transfer approved by this Stipulation and Order. This fee shall not be paid by or charged to Payee. E. Settlement Funding and LONG agree that the terms of this Stipulation and Order are based exclusively upon the facts, representations and circumstances of this particular case. Nothing in this Stipulation and Order shall preclude Transamerica from contesting any other proposed transfer of structured settlement payment rights, whether on the basis of applicable law, service of process or otherwise. This Stipulation and Order is entered without prejudice to the rights of Transamerica, and the Court makes no findings regarding the enforceability of any non-assignment provision(s) contained in the structured settlement agreement or related documents; provided, however, that the transfer of the Transferred Payments, as provided in this Stipulation and Order shall be valid and enforceable against the parties hereto and their successors and assigns. Neither this Stipulation and Order or Transamerica's lack of opposition to this matter, shall serve as precedent or evidence in any way nor be cited in any matter (except in connection with enforcement of the terms of this Stipulation and Order). This Stipulation and Order shall not constitute a finding or determination by the -6- Court, or an admission or acknowledgment by the parties, that the Uniform Commercial Code does or does not apply to the transaction at issue. Nothing contained in this Stipulation and Order shall be deemed to afford LONG or Settlement Funding any rights of ownership or control of the Annuity or shall otherwise affect the exclusive ownership and control of the Annuity by the Structured Settlement Obligor. F. Pursuant to the Act this Court orders that Transamerica is hereby discharged and immune from all liability to the Payee, anyone claiming through the Payee, or to any other person or entity (except Settlement Funding per the terms of this Stipulation and Order) for the Transferred Payments or for disclosures made in or related to this Stipulation and Order. G. Compliance with the requirements and fulfillment of the conditions set forth in the Act shall be solely the responsibility of the Transferee in the transfer of the Transferred Payments, and neither the Structured Settlement Obligor nor the Annuity Issuer shall bear any responsibility for, or any liability arising from, non-compliance with those requirements or failure to fulfill those requirements or conditions. Without limiting the foregoing, Transamerica may rely on the entry of this order in making the specified Transferred Payments. 5. Transamerica is entering into this Stipulation and Order strictly and solely in reliance upon the representations, warranties and agreements of the Transferee and Payee hereunder, and only for the purpose of reflecting that Transamerica has no objection to its terms, if approved by the Court at the heating set for this matter. Further, each of the parties acknowledges that each has had the opportunity to participate in the preparation of this Stipulation and Order and, as such, no nde of construction shall apply which might construe this Stipulation and Order in favor of or against any party hereto. 6. Any conclusions of law contained in the foregoing paragraphs, which may be construed as findings of fact, shall be treated as findings of fact. -7- 7. IT IS HEREBY ORDERED that the Stipulation and Order outlined above is approved in its entirety and its terms are incorporated herein as the Order of this Court. Counsel for Petitioners shall send certified copies of this Stipulation and Order to the interested parties. This Stipulation and Order is intended to be a final, non-appealable order, which disposes of all matters and claims and requests for relief in this proceeding and any claim or relief not disposed of or granted in this Stipulation and Order is hereby DENIED. IN WITNESS WHEREOF, the parties have approved this Final Order and the terms of this Stipulation and order by their duly authorized representatives. AGREED TO IN FORM AND SUBSTANCE: Lehman a/k/a Elizabeth Kay Lehman a/k/a Elizabeth Lehman a/k/a Elizabeth Lod~. Long Lethe; SETTLEMENT FUNDING, LLC, by its representative Jason R. Sutherland, Esq. 6501 Park of Commerce Blvd., Suite 140B Boca Raton, FL 33487 PAYEE'S SPOUSE, Keith ~ Long P~er~./~ attorney, Ro~. t~qtz, Esq. (Pa. I.D. No. 55408) 1120 Grant Building 310 Grant Street Pittsburgh, Pennsylvania 15219 The undersigned has no objections to the foregoing: TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY and TRANSAMERICA ANNUITY SERVICE CORPORATION, By their attorney, Richard M. Rubenstein, Esq. AEGON Center, 8th Floor 400 West Market Street Louisville, Kentucky 40202 IT IS E : ~ -8- 7. IT I~ HEREBY ORDEi~I~ that the S~on ~ ~t~ o~tlin~ a~w is a~rov~ in i~ ~d~W ~d its t~ ~e in~ h~n ~ the ~cr of ~s Co~. ~el ~r P~on~ sh~l s~ ~ ~pi~ of~s S~on ~d O~ to ~c int~e~ p~. ~is Sfip~a~on ~d ~ is in~ W be a ~1. ~n-~able o~, w~ch d~s~ of all ~s ~ cl~s ~ ~ ~r relief in ~is ~ ~d ~y cl~m or ~lt~f not ~s~sed of or ~ tn ~s S~la~ md ~ ts h~y D~D. ~ W~SS ~EOF~ ~e p~ ~w ~v~ ~s Final ~d~ ~d the terms of this Stipulation and O~d~r by their duly suthort~od ~v. smtattve~. AGREED TO IN FORM AND SI.I~STANCR: PAYEE, Elizabelh K. Long a/k/a l~lizab~ K. Lellman a/Ida Elizab~h Kay Lehman s/k/a Elizabeth LSnnan a/k/a Elizabeth Leckie PAYEE'S SPOUSE, PAYEE, her at'torah, ttt t Ronsld E, Reilz, Esq. (Pa. I.D, No, ~5408) 1120 arant Building 310 Oram Street PittsburSh, p~msylva~ia 15219 SETrI,EMENT FUNDING, LLC~ by j~S repres~n..~tive . /. ~ ~ ~oa R~ FL 33487 The ~ndersi~ ~a~ ~o ob]~etiom to the foreleg: TRANSAMERICA OCCIDENTAL LIFE INSURANCE COMPANY sad TRANSAMERICA ANNUITY SERVICE CORPORATION, By their attoraey, Richard M. P. ubenst~in, Esq. AI~ON Cen~r, 8a Floor 400 West Market Sh'z~ Louisvillv, Kantacky 40202 IT IS HEREBY ORDERED: I"IOB, Dsled this day of, .D~ '~J~NOI/flxI.LSN[ NO9'~Cl