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HomeMy WebLinkAbout03-3105DICKINSON COLLEGE, Plaintiff WILLIAM K. and JEANETTE C. SIKES, h/w, and KATHLEEN V. SIKES, Defendants : IN THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, PENNSYLVANIA :NO. CIVIL ACTION-LAW JURY TRIAL OF TWELVE DEMANDED NOTICE You have been sued in court. If you wish to defend against the claims set forth in the following pages, you must take action within twenty (20) days after this Complaint and Notice are served, by entering a written appearance personally or by attorney and filing in writing with the court your defenses or objections to the claims set forth against you. You are warned that if you fail to do so, the case may proceed without you and a judgment may be entered against you by the court without further notice for any money claimed in the Complaint or for any other claim or relief requested by the Plaintiffs. You may lose money or property or other rights important to you. YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP: Cumberland County Bar Association 32 South Bedford Street Carlisle, Pennsylvania 17013 Telephone (717) 249-3166 MARTSON DEAI~IDORFF WILLIAMS & OTTO I.D. No. 87326 ~ Ten East High Street ~ Carlisle, PA 17013 (717) 243-3341 Date: '7/t/03 Attomeys for Plaintiff DICKINSON COLLEGE, Plaintiff WILLIAM K. and JEANETTE C. SIKES, h/w, and KATHLEEN V. SIKES, Defendants IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA C1V1L ACTION-LAW JURY TRIAL OF TWELVE DEMANDED COMPLAINT AND NOW, comes Plaintiff Dickinson College by and through its attomeys, MARTSON DEARDORFF WILLIAMS & OTTO, and hereby avers as follows: 1. Plaintiff Dickinson College is a Pennsylvania educational institution and nonprofit corporation with its principle place of business at West Street, Post Office Box 1773, Carlisle, Cumberland County, Pennsylvania 17013. 2. Defendants, William K. and Jeanette C. Sikes, (hereinafter "Parents"), are adult individuals residing as husband and wife with a last known address of 19 North Independence Boulevard, New Castle, New Castle County, Delaware, 19720-4457. 3. Defendant, Kathleen V. Sikes, (here'mailer "Student"), is an adult individual with a last known address of 19 North Independence Boulevard, New Castle, New Castle County, Delaware, 19720- 4457. 4. On or about April 9, 1997, Parents and Student entered into a Promissory Note (Note # 1 ) with Dickinson for the financing of $4,000.00, plus interest and costs by them for educational services and benefits to Student at Dickinson. A copy of Note #1 is attached hereto as Exhibit "A." 5. On or about April 9, ! 997, Parcmts and Student entered into a Promissory Note (Note #2) with Dickinson for the financing of $6,240.00, plus interest and costs by them for educational services and benefits to Student at Dickinson. A copy of Note #2 is attached hereto as Exhibit "B." 6. On or about September 25, 1998, Parents and Student entered into a Promissory Note (Note #3) with Dickinson for the financing of $4,000.00, plus interest and costs by them for educational services and benefits to Student at Dickinson. A copy of Note #3 is attached hereto as Exhibit "C." 7. On or about September 25, 1998, Parents and Student entered into a Promissory Note Exkibit A DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - PLAN A EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT Date: April 9, 1997 Seller: Buyer(s): Dickinson College, Carlisl'e, Pennsylvania 17013 William K. & Jeanette C. Sikes I9' Ni Ihdependence Blvd. New Castle, DE 19720 If there'is more than one Buyer, eacfr of~y~u will be obligated; joirdrty~nd 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 incurred for goods and services to be provided and rendered, as the case may be, to Kathleen V. sikes (hereinafter "Student") during his/her enrollment at Dickinson College during the 1996-1997 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 A~D PAYMENT S~HEDULE Disclosures Required by Federal La~ ANNUAL PERCENTAGE FINANCE CHARGE: . AMOUNT FIND/gCED: RATE: Dollar Amount Amount of credit. Cost of credit as credit will provided by yearly rate cost Buyer Dickinson College Prior to repay- ment: 11.00% During repay- ment: 11.00% · $2,765.41 TOTAL OF PAYMENTS:. TOTAL SALE Amount Raid b~ PRICE: Buyer as total of Total cost of all scheduled purchase on payments credit, in- cluding down payment of $26,410.00 $6,765.4t $22,410. G0 Buyer's payment schedule will be as follows: EXHIBIT "A" Number of Payments 35 Amount of Payments 36.67 When Payments are Due monthly commencing 5-28-97, and continuing until 04-28-00 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 76.14 monthly-commencing 05-28-00 or such time as student is no. longer enrolled at Dickinson (or in.an aJpp~Qvad full-t~me off,campus. program.of. ~tud±es), whichever.isea~lLer. Late charge: Prepayment: If a payment is more than late payment (but no more charged. 15 days late, a sum equivalent to 5% of the than $2.50 and not less than $1.00) may be Buyer may prepay the unpaid balance of the Amount Financed a~d 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. III. ITEMIZATION OF AMOUNT FINANCED 2. 3. 4. 5. Cash price of Goods and Services: Total down payment: Unpaid balance of cash price (1 - 2): Amount paid to others on Buyer's behalf: A/nount Financed (3 + 4): $26,410.00 22,410.00 4,000~00 $ 4,000.00 2 IV. CREDIT INSUPu~NCE Credit life insurance for the term of this Contract is not required. V. NO WARRANTIES THERE ARE NO WARRANTIES, EITHER EXPRESSED OR IMPLIED, GIVEN BY SELLER IN CONNECTION WITHSALE OF THE GOODS AND SERVICES COVERED BY T~I~ CONTRACT UNLESS-Bbry~R-HAS'BEEN'GIVEN A SEPARATE WRITTEN WARRANTY. VI. ADDITIONAL PROVISIONS Buyer agrees to pay Seller the Total sale Price by making the total down payment and paying Seller the Total of Payments in 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 first payment date. Payments must be made to Eduserv Technolgies, Inc. at the following address: Eduserv Technologies, Inc. P.O. Box 64974 st. Paul, MN 55164-0974 Buyer's legal rights include the ri-ght to-pay all or part o~ tb~ ara~unt~ d~e on this Contract in advance of their due dates, to obtain a refund or credit of~ unearned Finance Charge whenever the amount is pafd in full in advance, and (with Seller's consent) to reinstate the Contract if Buyer timely cures any default.' Buyer shall be deemedto baste- committed'a~n~"Ev~t o~ Default" ~ tbe'Contz=ct ~on the occurrence of any of the following: (a) fail~re to make any payment on or before t~e date it fs d~e, (b) failure to make a payment on any other Contract outstanding with Seller, (c) f~ilur~t~ perform any ot4Ter-provimion' o~the Contract, (d) providing Seller with false information or signature~, (e) death~ incompetence, or conviction of any B~yer of crime invol~ing fraud or dishonesty, (f~ insolvencyor bankruptcy o~arry Buyer. 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 ~uyer~s last' known address as shown on Seller's records, advising Buyer of the default and of Buyer's right to cur~-the default. Th~ n~t-i~ce-witl pT~v-ide the time; e mount and performance necessary to cure the default. If Buyer does not cure the default as provided in the notice, S~iler~s right~ shai'i include the right to declare all sums due on the Contract to be immediately due and payable. The Buyer agrees to pay ~11 at~corney'~s ~eesandotber-reasona4~l~ c~ttectionco~ts'and chscrg~ne~essar!~f~r the collection of any amount not paid when due. waiver ~y seller of any event of default shaii not be binding upon seller ~f ~eller should thereafter choose to exercise that or any other right or a similar Event 6f Default occurs later. ~1~ Sette~"s'rightm and'-reme~ies shall be'cumulative. Seller's exercise of one or more rights shall not cause Seller to lose any other rights. 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. 7o 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, whenever called upon to be construed, shal~ be 3 governed by the domestic internal laws of the Coramonwealth of Pennsylvania except to the extent supplemented, superseded or preempted by federal law. 10. 11. 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 Con, non Pleas o~ Cl~mherland 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 process in any such proceeding may be made by ceztified mail, return receipt requested, directed to the respective party at the address set forth above. This Contract shall be binding upon the parties hereto, their heirs, successors, assigns and legal representatives. TIME IS OF THE ESSENCE OF THIS CONTRACT. NOTICE: ANY HOLDER OF THIS CONS%SMER-CREDIT CONTB3~T IS-St~BJECT TO ALL CLAIMS AND DEFENSES WHICH THH DE-BTOR COULD ASSERT AGAIN~T T~E SELLER OF GOODS-OR SERVICE~O~T~INEDPURSUANT. HERETO O~ZITH THE PROCEEDS HEREflE. ~RC/l~q~Ry.HERFHJNDE~B~ THE DEBTO~ SHALL NaT.EX~CEED AMOUNTS RAID BY THF~DRBTOR HEREI/NDER. 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. BUYER(S) ACKNOWLEDGE(S) RECEIVING A COMPLETED COPY OF THIS CONTRACT AND INTEND(S) TO BE LE LY BOUND BY __ I AGREE TO REPAY ~tLL AMOUNTS DUE ON THIS LOAN IF THE BORROWER(S)/BUYER(S) FAILS TO DO SO IN ACCORDANCE WITH THE TERMS OF THE NOTE: TRANSCRIPTS OF A STUDENT'S i~ECO~D WILL NOT BE RELEASED I~ LOAN PA]~ ~O '~ CO?.?.~E ~ IN ~ OR DEFAULT. DATE: DICKINSON COLLEGE BY ~~ Exhibit B DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - PLAN B EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT Date: April 9, 1997 Seller: Buyer(s): Dickinson'CcTlege; C~rl±~le; perrrrs~tvania'17Ol~-2896 William K. & Jeanette C, Sikes I9 Wl Ind%pendance B~vd. New Castle, DE 19720 If ther~ is m~r~than'one'Buy=~, e~ch-o~-yo~-will be-o~tigate~, j~irfcl-y an~sever-~lty, for all sums due and for the performance of all agreements as provided in this Contract. Under t~e terms of this Ed~cationai' ~dods an~'~ervfces Retail InstalIment Contract, you have agreed to pay the expenses incurred for goods and services to be provided and rendere~, as'the'ca~ maybe, to--K~th-teenV'~ S~kes- th~r~ inafter-~"~tud~rrt") during his/her enrollment at Dickinson College during the 1996-1997 academic year, including tuition, room and Doard, boo~s and supplies as herein sta~ed (hereinafter the ~GOods and ~ervices~'). The Goods and Services shall include only tuition, room and board. II~ TER{~.-OF PAY~NT~/4D PAlq4~N~ SCHEDULE Discl~sure~Required'blrF~d~ral' Law ~gNUA-L PERCENTAGE RATE:* Cost of credit as yearly rate FINANCE CHARGE: Dollar amount credit will cost Buyer AMOUNT FIN~CED: TOTD~L OF PAYMENTS: Amount of credit. Amount paid by provided by Buyer as total of Dickinson College. all scheduled payments / 9.25% $~693.73 $6~40.00- $9933.73 TOTAL SALE PRI CE: Total cost of purchase on credit, in- cludihg down payment of $26~4t0~00. Buyer's payment schedule will be as follows: EXHIBIT "B" Number of Payments 131 Amount of Payments 75.83 When Payments are Due Monthly cor~nencing 5/28/97 until 05/28/09. *Variable Rate: The ANNUAL PERCENTAGE RATE disclosed above is a variable rate and may change. The ~3~NL~L~ PERCENTAGE'RATE'may increase during the term of this transaction if the prime rate of interest announced in the Wall Street Journal a-~ of't~e-ct~se"~f busines~ on June"30 o~ each' c~ntendar year increases, and will be increased to the prime rate plus 1%. The ANNU/~' PERCENT~GE'R~TE 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 t-b~urime-r~te-of i~terest~ Any increas~will be in the form of higher payment amounts. If your cost of the Goods and Services sold hereunder were $6~40~00 at 9.25~ per anntun for 131 months, and the prime rate plus 1% were increased to 10.25%, your regular monthl~'payments"wout~incre~seto$79~-34~ Furtk~r, the ANNUAL PERCENTAGE RATE will not increase to more than 18% or such other rate as may be permitted under t~e Pennsylvania ~oods and ~erviges Installment Sales Act. Late Charger If'a"paymenT is'm~re tPra~ t'g'd~y~ 1at~, = sum-equivaterrt-t= 5%~o~ the late payment (but no more than $2.50 and not less than $1.00) may be char~ed. Prepayment: Buyer may prepay the unpaid balance of the Amount Financed and any FIN~/~CE 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. III. ITEMIZATION OF AMOUNT FINANCED I. cash price of GOods and Services: $'26;4i~.00 2. Total down payment: 20,170.00 3. Unpaid-b~tanc~'of cash'uti'ce' (t - 2)'r 6,240.00 4. Amount paid to others on Buyer's behalf: -0- 5. Amount Financed (3'+ 4): $~2~,00 V. CREDIT INSURA/qCE Credit life insurance for the term of this Contract is not required. V. NO WARRANTIES THERE ARE NO WARRANTIES, EITHER EXPRESSED OR IMPLIED, GIVEN BY SELLER IN CONNECTION WITH ~ALE-OF-TH~GOODS-AND SERVICE$'-COVEP~DBYT~ CONTRACT UNLESS~B%3YE~HAS-B~-~VEN A SEPARATE WRITTEN WARRANTY. VI. ADDITIOND2L PROVISIONS Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Payments i~-the number and amount of'monthly payments shown in the Payment Schedule. Payments are due on or before the same date of eac~ month as the first payment date. Payments must be made to Edueerv Technologies, Inc, at the following address: Eduserv Technologi~, Inc. P.O. Box 64974 St. Paul, MN 55164~0974 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. Buyer shall be'deemed'to have'committed a~-"Event oF Default" o~ the~Contract upon the occurrence of any of the following: (a) fail~re tO make any payment on or before the date it' is d~e, (b) failure to make a payment on any other Contract outstanding with Seller, (c~ failure'to'perform an~'othe~provision' o~ th~ cormorant, (d) providing Seller with false information or signature~, (e) death, incompetence, or conviction of any ~uyer of crime involving fraud or dishonesty, (f) insotverrcy-or bankrup~c-y'o~ an~/B~Yer. Upon or after the Occurrence of any Event of Default, Seller will provide Buyer with notice, by certified mail~ as required Dy law, addressed'to B~yer'~ ~ast known address as shown on Seller's records, advising Buyer of the default and' of Buyer's- right-to' cureth~ de~a~tt~ The'r~otice-witt prov~detbe-time; amourrt and performance necessary to cure the default. If Buyer does not cure the default as provided in the notice, Seller's rights shall incl'ude ~e 'right to declare all sums due on the Contract to be inunediately due and payable. The Buyer agrees to pay all attorney's-feesand' otbe~r~sonabte-cot!ectioncosts'and-ckr~rges necessary for the collection of any amount not paid when due. Waiver by Seller of any EVent of-Default shall not be binding upon b~el~er if Seller should thereafter choose to exercise that or any other right or a similar Event' ~f Default o~curs later. D~t~i Selt~ right-s a~d-remed~sshetl be cumulative. Seller's exercise of one or more rights shall not cause Seller to lose any ot~er rights. This Contract is freely assignable by Seller. Buyer agrees that upon receiving notice of the assignment Buyer shall be obligated to the ~signee of this Contract, which Assignee shall have all of Seller's right and remedies. 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. 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. CONSENT TO JURISDICTION, VENUE AND S~RVLCE: 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 Comr~on 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 3 10. 11. court. Service of process in any such proceeding may be made by certified mail, return receipt requested, directed to the respective party at the address set forth above. This Contract shall be binding upon the parties hereto, their heirs, successors, assigns and legal representatives. TIME IS'OF' THE ESSENCE OF TSIS-CONTBACT. NOTICE: ANy HOLDEROF-THIS CONSUME~-CREDIT CONTRACT IS-S~BJ~CT TO ALL CLAIMS-AND DEPENSES-WHICHTHE DEBTOR ~COULD ASSE~T AGAINST THE SELLER OF GOODS ORSE~tCES OBTAINED PURSUANT~,~T~ORWITH THE PROC. EEDS- HEREOE~ R. EC~VER~HER~UNDER BY..THE ~EB~O~ SHALL NOT EXCEED AMOUNTS P~IDBY THE DEB~OR~BEREU~DER. 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 CON~ITi~S~TO OBTAI~A ~AR~AL REFUNDOF~ THE FINANCE CHARGE. BUYER(S) ACKNOWLEDGE(S) RECEIVING A COMPLETED COPY. OF THIS CONTRACT A~4D INTEND(S) TO BE L~Sm~L~ SOUND E~ rTS.~ERMS.~__ .-~,'A# , ~. ~ I AGREE TO REPAY A~L AMOUNTS D~ ON THIS LO~ IF THE BORROWER(S)/BUYER(S) FAILS TO DO SO IN ACCORD~CE WITH THE TE~ OF THE NOTE: T~ANSCRI~T OF A ~Tum~NT'S RECORD WILL NOT BE RELEASED DEFAULT., DATE: DICKINSON COLLEGE Exhibit C DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - PLAN A EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT September 25, 1998 I. Seller: Dickinson College, Carlisle, Pennsylvania 17013 Buyer(s): William & Jeanette Sikes 19 N. Independence Blvd. New Castle, DE 19720 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 incurred for goods and services to be provided and rendered, as the case may be, to Kathleen V. Sikes (hereinafter "Student") during his/her enrollment at Dickinson College during the 1999 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 SCHEDULE Disclosures Required by Federal Law ANNUAL PERCENTAGE RATE: Cost of credit as yearly rate Prior to repayment: 11.00% During repayment: 11.00% FINANCE CHARGE: Dollar Amount credit will cost Buyer $2215.41 AMOUNT FINANCED: Amount of credit provided by Dickinson College $4,000.00 Rev 2/92 TOTAL OF PAYMENTS: Amount paid by Buyer as total of all scheduled payments $6215.41 TOTAL SALE PRICE: Total cost of purchase on credit including down payment of $24,630.00 $28,630.00 Sikes Buyer's payment schedule will be as follows: Number of Payments 20 72 Amount of Payments $36.67 $76.14 When Payments are Due monthly commencing 10/28/98, and continuing until 04/28/00 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. monthly commencing 05/28/00 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: Prepayment: Ifa 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. III. ITEMIZATION OF AMOUNT FINANCED 1. Cash price of Goods and Services: $ 28,630.00 2. Total down payment: 24,630.00 3. Unpaid balance of cash price (1 - 2): 4,000.00 4. Amount paid to others on Buyer's behalf: - 0 - 5. Amount Financed (3 + 4): $ 4,000.00 IV. CREDIT INSURANCE Credit life insurance for the term of this 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 Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Payments in 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 first payment date. Payments must be made to EFG Technologies, Inc. at the following address: EFG Technologies, Inc. P.O. Box 64974 St. Paul, MN 55164 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 ofuneamed Finance Charge wheneverthe amount is paid in full in advance, and (with Seller's consen0 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) (b) (c) (d) (e) (f) failure to make any payment on or before the date it is due, failure to make a payment on any other Contract outstanding with geller, failure to perform any other provision of the Contract, providing Seller with false information or signatures, death, incompetence, or conviction of any Buyer of crime involving fraud or dishonesty, insolvency or bankruptcy of any Buyer. 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. 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. 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. 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. 3 10. 11. 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. 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 process in any such proceeding may be made by certified mail, return receipt requested, directed to the respective party at the address set forth above. This Contract shall be binding upon the parties hereto, their heirs, successors, assigns and legal representatives. 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 HEREUNDERBY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. NOTICE TO BUYER: (I) 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. BUYER(S) ACKNOWLEDGE(S) RECEIVING A COMPLETED COPY OF THIS CONTRACT AND INTEND(S) TO BE LEGALLY BOUND BY ITS 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 I~'~/~ ~, ~ TRANSCRIPTS OF A STUDENT'S RECORD WILL NOT BE RELEASED IF LOAN PAYMENTS TO THE COLLEGE ARE IN ARREARS OR DEFAULT. DATE: Plan A Loans DICKINSON COLLEGE 4 Exhibit DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - PLAN B EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT September 25, 1998 I. Seller: Dickinson College, Carlisle, Pennsylvania 17013-2896 Buyer(s): William & Jeanette Sikes 19 N. Independence Blvd. New Castle, DE 19720 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 incurred for goods and services to be provided and rendered, as the case may be, to Kathleen Sikes (hereinafter "Student") during his/her enrollment at Dickinson College during the 1999 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 SCHEDULE Disclosures Required by Federal Law ANNUAL FINANCE AMOUNT TOTAL OF TOTAL SALE PERCENTAGE C~AR. GE: FINANCED: PAYIvIENTS: PRiCE: RATE:* Dollar amount Amount of credit Amount paid by Total cost of Cost of credit as credit will provided by Buyer as total purchase on yearly rate cost buyer Dickinson College of all scheduled credit, including payments down payment of 9.50 % $ 4,755.20 $ 8,000.00 $12,755.20 Rev 2/92 $ 20,630.00 $ 28,63O.0O EXHIBIT "D" Sikes Buyer's payment schedule will be as follows: Number of Payments 128 Amount of Payments $ 99.65 When Payments are Due Monthly commencing 10/28/98 until 05/28/09 *Variable Rate: 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 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 be in the form of higher payment amounts. If your cost of the Goods and Services sold hereunder were $8,000.00 at 9.50% per annum for 128 months and the prime rate plus 1% were increased to 10.50%, your regular monthly payments would increase to $104.15. 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. Late Charge: Ifa 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. 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 art, 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. 2. 3. 4. 5. III. ITEMIZATION OF AMOUNT FINANCED Cash price of Goods and Services: $ Total down payment: Unpaid balance of cash price (1 - 2): Amount paid to others on Buyer's behalf: Amount Financed (3 + 4): $ 28,630.00 20,630.00 8,000.00 8,000.00 2 [.V. CREDIT INSURANCE Credit life insurance for the term of this 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 Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Payments in 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 first payment date. Payments must be made to EFG Technologies, Inc. at the following address: EFG Technologies, Inc. P.O. Box 64974 St. Paul, MN 55164 Buyer's legal rights include the right to pay al/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) (b) (c) (d) (e) (0 failure to make any payment on or before the date it is due, failure to make a payment on any other Contract outstanding with Seller, failure to perform any other provision of the Contract, providing Seller with false information or signatures, death, incompetence, or conviction of any Buyer of crime involving fraud or dishonesty, insolvency or bankruptcy of any Buyer. 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. 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. 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. 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. APPLICABLE LAW: This Agreement, whenever called u, pon to be construed, shall be governed by the domestic internal laws of th Commonwealth of Pennsylvania except to the extent supplemented, superseded or preempted by federal law. 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 process in any such 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 binding upon the parties hereto, their heirs, successors, assigns and legal representatives. 1 I. 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. BUYER(S) ACKNOWLEDGE(S) RECEIVING A COMPLETED COPY OF THIS CONTRACT AND INTEND(S) TO BE LEGALLY BOUND BY ITS TERMS. BUYER(S): 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. ~'~[ ~ ~,0~ ~,t~. ~,,'} TRANSCRIPT OF A STUDENT'S RECORD WILL NOT BE RELEASED IF LOAN PAYMENTS TO THE COLLEGE ARE IN ARREARS OR DEFAULT. DATE: Plan B Loans DICKINSON COLLEGE Exhibit E DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - PLAN B EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT January 31, 2000 I. Seller: Dickinson College, Carlisle, Pennsylvaxtia 17013-2896 Buyer(s); William and Jeanette Sikes 19 N. Independence Bird New Castle. DE 19720 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 Educational Goods and Services Retail Installment Contract(the "Contract"). Under the terms of this Contract~ you have agreed to pay the expenses incurred for Goods and Services (as here'mafter defined) to be provided and rendered, as the case may be, to Kathleen Sikes (here'maffer "Student") during his/her enrollment at Dicldnaon_ College during the 2000 academic year, including tuitin~_ room and board, books and supplies as herein stated (collectively the "Goods and Services"). 1I. TERMS OF PAYMENT AND PAYMENT SCHEDULE Disclosures Re4uired by Federal Law ANNUAL PERCENTAGE RATE:* Cost of credit as yearly rate FINANCE CHARGE: Dollar mount credit will cost buyer AMOUNT FINANCED: Amount of credit provided by Dickinson College TOTAL OF PAYMENTS: Amount paid by Buyer as total of all scheduled payments TOTAL SALE PRICE: Total cost of purchase on credit, including down payment of 8.75% $ 4,575.52 $ 9,42g. 00 Rev L0/99 $14,003.52 $ 20,307.00 $ 29,735.00 EXHIBIT "E" Sikes Buyer's payment schedule will be as follows: Number of Payments 116 Amount of Payments $120.72 When Payments are Due Monthly commencing 02/28/00 until 10/28/09 *Variable Rate: The initial ANNUAL PERCENTAGE RATE disclosed above is a variable rate and may change(increase or decrease) fi.om time to time. The ANNUAL PERCENTAGE RATE may increase or decrease during the term of this transacfiort 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 or decreases, and will be increased or decreased to the prime rate plus 1%. The ANNUAL PERCENTAGE RATE will not increase, or decrease, more than once a year, and the new interest rate will become effective on July 1 followingthe increase or decrease, if any, in the prime rate of interest. Any increase will be in the form of higher payment mounts. If your cost of the Goods and Services sold hereunder were $9~428.00 at 8.75% per a~m,m for 116 months and the prime rate plus I% were increased to 9.75%, your regular monthly payments would increase to $125~8 L Further, the ANLx/UAL PER CFlXlTAGE RAIE will not increase to more than 18% or such other rate as may be permitted under Pennsylvania law. Late Charge: Ifa 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 $I.00) may be charged. Prepayment: Buyer may prepay the unpaid balance ofthe AMOUNT FINANCED and any FINANCE CHARGE due through the date of early payment, in full or in art, 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. 2. 3. 4. 5. III. ITEMIZATION OF AMOUNT FINANCED Cash price of Goods and Serdces: $ Total down payment: Unpaid balance of cash price (1 - 2): Amount paid to others on Buyeffs behalf.' Amount Financed (3 + 4): $ 29,735.00 20,307.00 9,428.00 9,428 2 IV. CREDIT INSURANCE Credit life insurance for th~ term of this Contract ia not required. V. NO WARtL~NTIES 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 WRFf WARRANTY. VI. ADDITIONAL PROVISIONS Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Payments in the number and amount of monthly p~yments 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 EFG Technologies, Inc. at the fallowing address: EFG Technologies, Inc. P.O. Box 64974 St. Paul, MN 55164 Buyeffs legal rights include the right to pay all or part of the amounts due on this Contract in advance of their due dates, to obtaha a refund or credit of unearned Finance Charge whenever the amount is paid in full in advance, and (with Sellers consent) to reinstate the Contract if Buyer timely cures any default. 3. Buyer shall be deemed to have committed an "Event of Defuult" of the Contract upon the occurrence of any of the following: (a) (b) (c) (d) (e) (0 failure to make any payment on or before the date it is due, failure to make a payment on any other Contract outstanding with Seller, failure to perform any other provision of the Contract. providing Seller with false information or signatures, death, incompetence, or conviction of any Buyer of ct/me involving fraud or dishonesty, insolvency or bankruptcy of any Buyer. 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 ~ shown on Seller's records, advising Buyer of the default and of Buyer's right to cure the default. The notice will provide the rime, amount and performance necessary to cure the default. If Buyer does not cure the default a 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 m 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 rio~tt or a similar Event of Default ocours 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 ri~ts. This Contract is freely assignable by Seller. Buyer a~ees that upon receiving notice of the assignment Buyer shall be obligated to the Assignee of this Contract, which Assignee shall have ail of Sellers right and remedies. -.' If any part of this Contract is held to be illegal, void or unenforceable, that provision shall be deemed not to have been a parr of this Contract. which shall otherwise roma n rial y effective. .APPLICABLE LAW: This Agreement, whenever called upon to be cons~'ued, shall be governed by the dom~xtic internal laws oft Commonwealth of Pennsylvania except to the extent supplemented, superseded or preempted by federal law. CONSENT TO ZURISDICTION. 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 ofCumberhnd Counvd, Pennsylvania, or, ifapplicaNe, the United States District Court of the Middle District of Pennsylvania, and all partie~ hereto consent and agree that jurisdiction and venue for such proceedings shall lie exclusively within said court. Service of process in any sunh proceeding may be made by certified mail, remm receipt requested, directed to the respective party at the address set forth above. 10. This Contract shall be binding upon the parties hereto, their heirs, successors, assigns and legal representatives. 11. TIME IS OF THE ESSENCE OF THIS CONTRACT. NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUB/ECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT FIERETO OR WITFI 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 TIqlS 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 TIdE FINANCE CHARGE. BUYER(S) ACKNOWLEDGE(S) RECEIVING A COMPLETED COPY OF THIS CONTR~T AND INTEND(S) TO BE LEGALLY BOUND BY ITS TERMS. , .,.:~ ~ .,~.j~'~ .,-,,~x. / 51 . 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: TRANSCRIPT OF A STUDENT'S RECORD WILL NOT BE RELEASED IF LOAN PAYMENTS TO THE COLLEGE ARE IN ARREARS OR DEFAULT. DATE: Plan B Loans DICKINSON COLLEGE /- ,~./- OO BY ~ ¢"-"- DICKINSON COLLEGE FLEX~BLEFI~ANCING SYSTEM - PLAN B EDUCATIONAL GOODS AND SERVICES RETAIl, INSTALLMENT CONTRACT January 31, 2000 Seller: Dickinson College, Carlisle, Pennsylvania 17013-2-8[96 Buyer(s): William and leanette Si~es 19 N. Independence B14d New Castl~DE 197~20 If there is more than one Buyer, ~ of-y~ will be~obligated, jointly and. severatby; for all sums due and for the performance of all agreements as provided in this Educational Goods and Services. Retail. Installment Contract(the "Contract"). Under the terms-of this Contract, you have agreed-to pay fl~e expenses incurred-for Goods and Services (as here'maf~er defined) to be provided and rendered, as the case may- be; to Kathleen Sikes .(hereinafieW'S~adent") during bis/her enrollment at Di~kimon College dmSn~the~2-000 acadzm~c.-year, including tuitior~ room-and board, books and supplies as here'm stated (collectively the "Goods and Services"). II. TERMS OF PAYMENT AND PAYMENT SCHEDULE Disclosure~ Required by- Federal L~w ANNUAL FINANCE PERCENT AGE CHARGE: FINANCED: RATE:*- 'Dollar amount " Amount of credit Cost of credit as credit will " provided by yearly rate cost buyer Dickinson Cotlege TOTAL OF ... PAYMEN-TS: --- Amount paid by Buyer as total of all scheduled payments . IOTAL SALE PRICE: Total cost of purchase on credit, including down payment of 7 8.75 % $ 10,073.96 $ 20,760.00 $ 30,833.96 $ 8,975.00 $ 29,735.00 Rev 10/99 EXHIBIT "F" Sikes Buyer's payment schedule will be as follows: Number of Payments 116 Amount of Payments When Payments are Due $ 265.81 Monthly commencing 02/28/00 until 10/28/09 *Variable Rate: The initial ANNUAL PERCENTAGE RATE disclosed above is a variable rate and may change(increase or decrease) from time to time. The ANNUAL PERCENTAGE RATE may increase or decrease 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 or decreases, and will be increased or decreased to the prime rate plus 1%_ The AlqlqUAL PERCENTAGE RATE will not increase, or decrease, more than once a year, and the new interest rate will become effective on July 1 following the increase or decrease, if any, in the prime rate of interest. Any increase will be in the form of higher payment amounts. If your cost of the Goods and Services sold hereunder were $20~760.00 at 8.75% per anmm~ for/_ 16 months and the prime rate plus 1% were increased to 9.75%, your regular monthly payments would increase to $27T03. Further, the ANNUAL PERCENTAGE RATE will not increase to more than 18% or such other rate as may be permitted under Pennsylvania law. Late Charge: If a payment is more than 15 days late, a sm equivalent to 5% of the late payment (hut no more than $2.50 and not less than $1.00) may be charged. Prepayment: Buyer may prepay the unp~d balance of the AMOUNT FINANCED and any FINANCE CHARGE due through the date of early payment, in full or in art, without penalty. SF.I~. SECTION VI OF THE CONTRACT BELOW FOR ANY ADDITIONAL INFORMAI3_ON ABOUT NON- PAYMENT, DEFAULT AND REQUIRED REPAYMENT BEFORE THE SCHEDULED DATE FOR REPAYMENT OF THE AMOUNT FINANCED. 2. 3. 4. 5. III. ITEMIZATION OF AMOUNT FINANCED Cash price of Goods and Services: $ Total down payment: Unpaid balance of cash price ( 1 - 2): Amount paid to others on Buyer's behalf: AmountEinanced 0 + 4): $ 29,735.00 8,975.00 20,760.00 20,760,00 2 IV. CREDIT INSURANCE Credit life insurance for the term of this Con,ct 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 WRI I-DZN WARRANTY. VI. ADD[TIONAL PROVISIONS Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Payments in the number and amount of monthly p~yments shown in the Payment Schedule. Payments are due on or before the same date of each month as the first payment date. l~ayments must be made to EFG Technologies, Inc. at the following address: EFG Technologies, Inc. P.O. Box 64974 St. Paul, MN 55164 Buyer's legal rights include the right to 9ay all or part of the amounts due on this Contract in advance of their due dates, to ubtaM a refund or credit of unearned Finance Charge whenever the amount is paid in fi:il in advance, and (with Sellers consent) to reinstate the Contract if Buyer time y cures any default. Buyer shall be deemed to have committed an "Event of Default" of the Contract upon the occurrence of any of the following: (c) (0 failure to make any payment on or before the date it is due, failure to make a payment on any other Contract outstanding with Seller, failure to perform any other provision of the Contract. providing Seller with false information or signatures. death, incompetence, or conviction of any Buyer of crime involving fraud or dishonesty, insolvency or bankruptcy of any Buyer. Upon or afmr the occurrence of any Event of Default, Seller will provide Buyer with notice,, by certified mail az required by law, addressed to Buyer's last known address az shown on Seller's records, advising Buyer of the default and of Buyees fight to cure the default. The notice will provide the time, amount and performance necessary to cure the default. If Buyer does not cum the default a 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 Defau t sba not be b nd ng upon Seller if Seller should therea~er choose to exen:ise that or any other right or a similar Event of Dehult occurs later. All Seller's rights and rereedies shall he cumulat/ve. Seller's exercise of one or reore rights shall not cause Seller to lose any other ri*ohm. This Contract is freely assignable by Setler. Buyer a~ees 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 r/ght and remedies. If any part of this Contract is held to be illegal, void or unenforceable, that provision shall be deemed not to havebeen a part of this Contract. which shall othep, vise remain ~lly effective. _A,PPLICABLE LAW: This Agreement, whenever called upon to be construed, shall be governed by the domestic ~nternal laws of th Commonwealth of Pennsylvania except to the extent supplemented, superseded or preempted by federal law. CONSENT TO JURISDICTION. VENUE AND SERVICE: The parties to this Agreement consent and agree that all legal proceedings relating m the subject matter hereof shall be maintained in the Court of Common Pleas of Cumberland County, Pennsylvania, or, if applicable, the United States Dish'/ct Court of the Middle Distr/ct of Pennsylvania, and all parties hereto consent and agree tharjurisdiction and venue for such proceedings shall lie exclusively within said court. Service of process in any such 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 binding upon the parties hereto, their heirs, successors, assigns and legal representatives. 11. TIME IS OF THE ESSENCE OF THIS CONTRACT. NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLA/MS AND DEFENSES W'I-1ICH TIlE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT I4.ERETO 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 [N ADVANCE THE FULL AMOUNT DUE AND UNDER CERTAIN CONDITIONS TO OBTAIN' A PARTIAL REFUND OF THE FINANCE CHARGE. BUYER(S) ACKNOWLEDGE(S)La, ECEIVING A COMPLETED COPY OF THIS CONTRACT AND IN I hND(S) TO BE LEGALLY BOUND BY iTS TERMS..,, r ~,~ /.3~"~ I AGREE TO REPAY ALL AMOUNTS DUE ON THIS LOAN IF THE BORd~OWER(S)/BUYER(S) FAILS TO DO SO IN ACCORDANCE WITH THE TERMS OF THE NOTE: STUDENT COSIGNER TRANSCRIPT OF A STUDENT'S RECORD WILL NOT BE RELEASED IF LOAN PAYMENTS TO THE COLLEGE ARE IN ARREARS OR DEFAULT. DATE: Plan B Lomas D{CKINSON COLLEGE VERIFICATION [, THOMAS MEYER, Assistant Treasurer of Dickinson College, acknowledge that 1 have the authority to execute this Verification on behalf of Dickinson College and certify that the foregoing Complaint is based upon information which has been gathered by my counsel in the preparation of this lawsuit. The language of this Complaint is that of counsel and not my own. I have read the document and to the extent that t/tis Complaint is based upon information which I have given to my counsel, it is m~e and correct and to the best of my knowledge, information and belie£ To the extent that thc content of this Complaint is that of counsel, I have relied upon counsel in making this Verification. This statement and Verification are made subject to the penalties of 18 Pa. C.S. § 4904 relating to unswom falsification to authorities, which provides that ifI knowingly make false averments, I may be subject to criminal penalties. Dickinson College Assistant Tmasurer--6'fDickinson College ~ECEIVE~ JUH 2 ~o 2003 Exhibit F DICKINSON COLLEGE, Plaintiff WILLIAM K. and JEANETTE C. SIKES, h/w, and KATHLEEN V. SIKES, Defendants IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NO. 03-3105 CIVIL ACTION-LAW JURY TRIAL OF TWELVE DEMANDED PRAECIPE TO DOCUMENT SERVICE AND COST OF SERVICE PURSUANT TO TItE PENNSYLVANIA LONG ARM STATUTE I hereby certify that a copy of the Complaint was mailed to William K. Sikes on July 2, 2003, by certified mail, restricted delivery, return receipt requested. Attached is the Post Office return receipt signed and dated July 7, 2003, and a copy of the receipt showing the cost of service was $9.53. MARTSON DEARDORFF WILLIAMS & OTTO David R. Galloway, Esqu'~rre I.D. No. 87326 Ten East High Street Carlisle, PA 17013-3093 (717) 243-3341 Date: July 14, 2003 Attorneys fi)r Plaintiff Poste§e Certified Fee Returr~ Receipt Fee IEndorsement Required) Restricted Delive~ Fee (Endorsement Required) · Complete items 1, 2, and 3. Also item 4 if Restricted Deliver? is desired. · Print your name and address on the reveres so that we can return the card to you. · Attach this card to the back of the mailpiece, o~ on the front if space permits. 1. Article Addressed to: lq I-I Agent I Addreeaee ~addmssdifferent fromiteml? [] Yes If YES, enter delivery address below: [] No 2. A..tlc~e Number PS Form 3811, August 2001 Domestic Return Receipt 102595-02-M-1035 CERTIFICATE OF SERVICE.: I, Christina N. Yost, an authorized agent for Martson DeardorffWilliams & Otto, hereby certify that a copy of the foregoing Praecipe was served this date by depositing same in the Post Office at Carlisle, PA, first class mail, postage prepaid, addressed as follows: Mr. William K. Sikes 19 North Independence Blvd. New Castle, DE 19720-4457 MARTSON DEARDORFF WILLIAMS & OTTO Christina N. Yost Ten East High Street Carlisle, PA 17013 (717) 243-3341 Dated: July 14, 2003 DICKINSON COLLE Plaintif WILLIAM K. and JEJ SIKES, h/w, and KAl Defend I, Jeffrey N. Jeanette C. Sikes and Dated: j~ly l~ 3E, NETTE C. tLEEN V. SIKES, nts IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NO. 03-3105 CIVIL ACTION-LAW JURY TRI At, ()F TWELVE DEMANDED ACCEPTANCE OF SERVICE affe, Esquire, accept service of the Complaint on behalf of Defendants, ~athleen V. Sikes. 2003 ~/Jef~y lq. Yoffe,~quire I, Nichole L. ~ certify that a copy oftl in the Post Office at C CERTIFICATE OF SERVICE {yers, an authorized agent of Martson Deardorff Williams & Otto, hereby te foregoing Acceptance of Service was served this date by depositing same ~rlisle, PA, first class mail, postage prepaid, addressed as follows: Jeffrey N. Yoffe, Esquire YOFFE & YOFFE, P.C. 214 Senate Avenue, Suite 203 Camp Hill, PA 17011 MARTSON DEA~RDORFF WILLIAMS & OTTO Nichole L. Myers Ten East High Street Carlisle, PA 17013 (717) 243-3341 Dated: October 28, 2033 DICKINSON COLLEGE, Plaintiff V. WILLIAM K. and JEANETTE C. : SIKES, h/w, and KATHLEEN V. SIKES,: Defendants : IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NO. 03-3105 CIVIL ACTION-LAW Jury TRIAL OF TWELVE DEMANDED STIPULATION AND AGREEMENT FOR ENTRY OF JUDGMENT AND NOW, comes Plaintiff, DICKINSON COLLEGE, by and through its attorneys, MARTSON DEARDORFF WILLIAMS & OTTO, and Defendants WILLIAM K. SIKES and JEANNETTE C. SIKES, h/w, and KATHLEEN V. SIKES, who stipulate and agree as follows: 1. Pa. R.C.P. 1037 (c) provides that in all cases, the Court, on motion of a party, may enter an appropriate judgment against a party upon admission. 2. Defendants agree and admit that Judgment should be entered against them in favor of Plaintiff in the mount of $67,483.76 plus costs of suit and interest accruing at 5.75% per annum from date of judgment. 3. The parties agree that the Court, upon motion of Plaintiff, may enter Judgment pursuant to this Stipulation without issuance of a Rule to Show Cause, and without further proceedings or notice. William K. Sikes 19 North Independence Blvd New Castle, DE 19720-4457 Martson DeardorffWilliams & Otto Ten East High Slreet " Carlisle, PA 17013-3093 Defendant Date: / L- 2 ~-~ '~ J~ette C. Sikes 194qorth Independence Blvd New Castle, DE 19720-4457 Defendant Date: / ~- -'Z~:-4~':~ (717) 243-3341 Attorney for Plaintiff Date: Kathleen V. Sikes 19 North Independence Blvd New Castle, DE 19720-4457 Defendant Date: CERTIFICATE OF SERVICE I, Marti Iben, an authorized agent for Martson DeardorffWilliams & Otto, hereby certify that a copy of the foregoing Order attaching Stipulation was served r. his date by depositing same in the Post Office at Carlisle, PA, first class mail, postage prepaid, addressed as follows: Jeffrey N. Yoffe, Esquire YOFFE & YOFFE, P.C. 214 Senate Avenue Suite 203 Camp Hill, PA 17011 MARTSON DEAILDORFF WILLIAMS & OTTO Marti I~een Ten East High Street Carlisle, PA 17013 (717) 243-3341 Dated: February 3, 2004 DICKINSON COLLEGE, Plaintiff WILLIAM K. and JEANNETTE C., SIKES, h/w, and KATHLEEN V. SIKES, Defendants IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANL~ NO. 03-3105 CIV1L ACTION-LAW JURY TPGAL OF TWELVE DEMANDED ORDER OF COURT AND NOW, this c//~day of February, 2004, upon consideration of the attached Stipulation, judgment is hereby entered in favor of PlaintiffDickinson College and against Defendants, William K. and Jeannette C. Sikes, husband and wife, and Kathleen V. Sikes, in the amount of $67.483.76 plus costs of suit and interest accruing at 5.75% per annum from date ofjudgment. Prothonotary is directed to enter and index this judgment accordingly. for Plaintiff: David R. Galloway, Esquire Ten East High Street Carlisle, PA 17013 for Defendants: Jeffrey N. Yoffe, Esquire YOFFE & YOFFE, P.C. 214 Senate Avenue Suite 203 Camp Hill, PA 17011 F: MLES1Ciimta17619 Dkkiroon C0p0V\C0 1CUMW111317619C.113.pn judS mnt Christopher E. Rice, Esquire I.D. No. 90916 R. Christopher VanLandingham, Esquire I.D. No. 307424 MARTSON DEARDORFF WILLIAMS MARTSON LAW OFFICES OTTO GILROY & FALLER Ten East High Street Carlisle, PA 17013 (717) 243-3341 Attorneys for Plaintiff DICKINSON COLLEGE LOF THE PROTHONOTARY 2010 OCT -7 PM 2: 36 CUMP?NR?SYN?A? UNTY IA Plaintiff V. WILLIAM K. and JEANETTE C. SIKES, h/w, and KATHLEEN V. SIKES, Defendants : IN THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, PENNSYLVANIA : NO. 03-3105 : CIVIL ACTION-LAW JURY TRIAL OF TWELVE DEMANDED PRAECIPE TO THE PROTHONOTARY OF CUMBERLAND COUNTY: Enter judgment by stipulation on Order of the Court dated February captioned action, against WILLIAM K. SIKES and JEANETTE C. SIKES 9, 2004' in the above KATHLEEN,ORR f/n/a KATHLEEN V. S , husband and wife, and IKES, 19 North Independence Boulevard, New Castle, Delaware, in the amount of $67,483.76, plus interest of 5.75% per ann attorneys' fees and costs of suit, minus an um from February 9, 2004, y amount already paid. MARTSON LAW OF CES By: Christopher E. Rice I.D. 90916 R. Christopher VmLandingham, Esquire I.D. No. 307424 Ten East High Street Carlisle, PA 17013-3093 Date: (717) 243-3341 4 14.oo Pp Attorneys for Plaintiff e* 43o&8 THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY eagqsoa OBTAINED WILL, BE USED FOR THAT URPOSE RMATION F:`,F I LFS,C l ient, 7719 Dickinson Col IcgeV619. Col l ections+7619.C.C.irrent\l 13 Sike0619C. 113. pra Christopher E. Rice, Esquire , I.D. No. 90916 ° t L 0 I t R. Christopher VanLandingham, Esquire I.D. No. 307424 2;112 JAN 27 AH : 514 MARTSON DEARDORFF WILLIAMS OTTO GILROY & FALLEN ,, , s_, MARTSON LAW OFFICES PE°tNSYMAINlA Ten East High Street Carlisle, PA 17013 (717) 243-3341 Attorneys for Plaintiff DICKINSON COLLEGE, IN THE COURT OF COMMON PLEAS OF Plaintiff CUMBERLAND COUNTY, PENNSYLVANIA No, JA_ blq& V. NO. 03-3105 CIVIL ACTION-LAW WILLIAM K. and JEANETTE C. SIKES, h/w, and KATHLEEN V. SIKES, Defendants To the Prothonotary: JURY TRIAL OF TWELVE DEMANDED PRAECIPE Please mark the judgment in the above-referenced matter satisfied and the action discontinued. MARTSON LAW OFFICES Date r _ By: ? Christopher E. Rice I.D. 90916 R. Christopher VanLandingham, Esquire I.D. No. 307424 Ten East High Street Carlisle, PA 17013-3093 (717) 243-3341 071101-- Attorneys for Plaintiff CERTIFICATE OF SERVICE I, Mary M. Price, an authorized agent of MARTSON DEARDORFF WILLIAMS OTTO GILROY & FALLER, hereby certify that a copy of the foregoing Praecipe was served this date by depositing same in the Post Office at Carlisle, PA, first class mail, postage prepaid, addressed as follows: Ms. Kathleen Orr 5105 Kennett Pike, Building 78 Winterthur, DE 19735 Jeffrey N. Yoffe, Esquire LAW OFFICES YOFFE & YOFFE, P.C. 214 Senate Avenue, Suite Camp Hill, PA 17011 MARTSON LAW OFFICES By M Price Ten ast High Street Carlisle, PA 17013 (717) 243-3341 Dated: / 02 7//ov THIS IS A DEBT COLLECTING FIRM ATTEMPTING TO COLLECT A DEBT FOR DICKINSON COLLEGE. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.