HomeMy WebLinkAbout08-1355IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL DIVISION
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, DOROTHY L. STRIKE)
No. oe "12rs
PETITION TO TRANSFER
STRUCTURED SETTLEMENT PAYMENT RIGHTS
Petitioner, Settlement Funding, LLC d/b/a Peachtree
Settlement Funding, hereby submits the following Petition to
Transfer Structured Settlement Payment Rights pursuant to the
Structured Settlement Protection Act, 40 P.S. §§ 4001-4009 ("the
Act"), and Pa.R.C.P. 229.2, and in support states:
1. Pursuant to Rule 229.2, the "Transferee" and Petitioner
herein is Settlement Funding, LLC d/b/a Peachtree Settlement
Funding, a Georgia Limited Liability Company with its principal
place of business at 3301 Quantum Blvd., Second Floor, Boynton
Beach, Florida 33426.
2. The "Payee" is Dorothy L. Strine, an adult individual
whose date of birth is September 1, 1954, and who resides at 167
Ken Lin Drive, Carlisle, Pennsylvania 17015.
3. Venue is proper in this Court pursuant to the
Structured Settlement Protection Act because the Payee is
domiciled in Cumberland County, Pennsylvania. 40 P.S. § 4004.
4. As the result of a wrongful death claim that was
settled in 1991, Payee is entitled to receive periodic payments
from two annuities, as follows: 240 monthly payments each in the
amount of $900.00 commencing on February 1, 1991 through and
including January 1, 2011, then continuing for life thereafter;
and 8 annual payments each in the amount of $10,000.00
commencing on August 1, 2006 through and including August 1,
2013. (Payee has attached excerpted portions of each Annuity
Contract, with relevant policy data, as Exhibit "A" herein).
5. By operation of a Uniform Qualified Assignment, the
obligation to make the monthly payments is held by MCare: f/k/a
Medical PFL Liability Catastrophic Loss Fund, the Structured
"Settlement Obligor" as defined by 40 P.S. § 4002. MCare: f/k/a
Medical PFL Liability Catastrophic Loss Fund is located at 30
North Third Street, 8th Floor, Suite 800, Harrisburg,
Pennsylvania 12030.
6. The obligation was funded through the issuance of
annuities by Allstate Life Insurance Company (the "Annuity
Issuer"). Allstate Life Insurance Company is located at 544
Lakeview Parkway, L3F, Vernon Hills, Illinois 60061.
7. On February 22, 2008, Payee executed two Absolute
Assignment and UCC Article 9 Security Agreements, (the "Transfer
Agreements"), true and correct copies of which are attached
hereto and incorporated herein by reference as Exhibit "B". The
Page 2 of 9
first Transfer Agreement provides for the assignment of Payee's
right and interest in receiving 48 monthly payments
each in the amount of $900.00 commencing on December 1, 2009
through and including November 1, 2013, to Settlement Funding
LLC' ("Transfer 1"). The second Transfer Agreement provides for
the assignment of Payee's right and interest in receiving 6
annual payments each in the amount of $10,000.00 commencing on
August 1, 2008 through and including August 1, 2013, to
Settlement Funding, LLC ("Transfer 2").
8. The rights to receive the payments described above at
paragraph 4, and reflected in Exhibit "A", are exclusive to the
Payee, who owns them. She has never pledged, sold, assigned,
transferred, or otherwise encumbered the rights to receive these
payments.
9. The Transfer Agreements were executed by the
Transferee on February 25, 2008.
10. Payee has completed the "Payee's Affidavit in Support
of Petition" required by Rule 229.2. a copy of which is attached
hereto as Exhibit "C". As set forth in further detail in the
Affidavit, the purpose of these transactions is to pay a debt
consolidation loan, and refinance her mortgage loan.
i Pursuant to New Rule 229.2, Settlement Funding, LLC is the Petitioner herein and has attached a Verification in
support thereof.
Page 3 of 9
11. Payee is fifty-three years old, and has one dependent
child. She is employed by Citizens Bank as a Senior Teller.
12. Payee has been provided, and has acknowledged
receipt at least 10 days prior to receipt of the Transfer
Agreements, of two "Transfer Disclosures" required by 40
P.S. § 4003 (a) (2), attached and incorporated herein by
reference as Exhibit "D", and D-1, respectively. As set
forth in the Transfer Disclosures, the following terms have
been disclosed to the Payee:
a. The amounts and due dates of the structured
settlement payments to be transferred are: 48
monthly payments each in the amount of $900.00
commencing on December 1, 2009 through and
including November 1, 2013 (Transfer 1); and 6
annual payments each in the amount of $10,000.00
commencing on August if 2008 through and
including August 1, 2013 (Transfer 2).
b. The aggregate amount of the structured settlement
payments to be transferred is $43,200.00 for
Transfer 1; and $60,000.00 for Transfer 2.
C. The discounted present value of the payments
transferred using the most recently published
applicable federal rate for determining the value
of an annuity is $36,978.79 for Transfer 1; and
$53,155.22 for Transfer 2.
d. The federal discount rate used to determine the
discounted present value is 4.20 percent as of
February 12, 2008.
e. The gross amounts payable to Payee in exchange
for the transferred payments is $22,052.06
(Transfer 1); and $38,356.64 (Transfer 2).
f. The net amounts payable to Payee after deduction
of legal fees, term life policy fee of $2,832.52,
Page 4 of 9
costs, expenses, and processing fees are
$19,028.54 (Transfer 1) ; and $36,156.64 (Transfer
2).
g. The quotients are 51.46% (Transfer 1) ; and 68.02%
(Transfer 2).
h. The amount of penalty and 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 Petitioner is:
NONE.
13. Based on the net amounts that the Payee will receive
from these transactions ($19,028.54; and $36,156.64), and the
amounts and timing of the structured settlement payments that
would be assigned, the Payee is, in effect, paying interest at
the rate of 25.10% per year on Transfer 1, and 20.24% per year
on Transfer 2.
14. Payee has been provided, and has acknowledged receipt,
at least 10 days prior to receipt of the Transfer Agreement, of
written "Notices" in bold print 12-point type as required by 40
P.S. § 4003 (b). True and correct copies of Payee's
acknowledgement of the receipt of the § 4003 (b) Notices are
attached as Exhibit "E", and "E-1".
15. Payee acknowledges that she has been advised to obtain
independent legal advice regarding the consequences,
implications, and tax effects of the transaction, and has
expressly waived such advice as set forth in the
Page 5 of 9
"Acknowledgments" dated February 22, 2008, attached to this
Petition as Exhibit "F".
16. The annuity payments involved in Transfer 2 are life-
contingent beginning on February 1, 2011. Accordingly, Payee
intends to purchase a policy of term life insurance having an
estimated premium not to exceed $2,823.52, to ensure that the
Transferee receives the benefit of its consideration (the value
of the payments to be transferred) in the event that Payee dies
prior to the due date of the final monthly payment, November 1,
2013. (See, Exhibit "C", para. 7, describing the purchase of the
term life insurance).
17. The parties herein have reached an agreement
regarding the mortality tracking of the Payee, given the life-
contingent nature of the Petitioner's annuity payments.
18. The transfers comply with the requirements of the
Structured Settlement Protection Act, 40 P.S. §§ 4001-4009, and
will not contravene other applicable Federal or State statutes
or regulations or any applicable law limiting the transfer of
workers' compensation claims. (See, Certification of Ronald E.
Reitz, attached as Exhibit "G").
19. Petitioner respectfully requests that the Court sign
an order approving these transfers which constitutes a
"qualified order" for purposes of 26 U.S.C.A § 5891.
Page 6 of 9
20. Payee has seriously contemplated these transactions,
and due to her personal circumstances and needs, believes that
these transfers are in her best interests.
21. Payee 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 ram ,
solely to prepare and present the within Petition, based upon
Payee's independent determination and advice obtained from
others, with respect to the advisability and ramifications of
the transfer.
WHEREFORE, Petitioner prays that this Honorable Court grant
this Petition to Transfer Structured Settlement Payment Rights.
Respectfully submitted,
Swartz a 1 LLC
By:
Roilalc`YE. Reitz
Attorney for Petitioner
Page 7 of 9
VERIFICATION
I, Kurt Moody, In-House Counsel of Settlement Funding, LLC
d/b/a Peachtree Settlement Funding, have read the foregoing
Petition to Transfer Structured Settlement Payment Rights, and
hereby aver that the statements therein are correct to the best
of my personal knowledge, information and belief.
This statement and verification is made subject to the
penalties of 18 Pa. C.S. § 4904 relating to unsworn
falsification to authorities.
Date: '0 4 _p9-'
KU T MOODY
Page 8 of 9
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the
foregoing PETITION TO TRANSFER STRUCTURED SETTLEMENT PAYMENT
RIGHTS was served by certified mail, return-receipt requested,
postage pre-paid, on this day of
2008 on:
MCare: f/k/a Medical PFL Liability Catastrophic Loss Fund
30 North Third Street
Stn Floor, Suite 800
Harrisburg, PA 12030
("Settlement Obligor")
Allstate Life Insurance Company
544 Lakeview Parkway, L3F
Vernon Hills, IL 60061
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Dorothy Strine
167 Ken Lin Dr.
Carlisle, PA 17015-9753
("Payee")
Swartz RdE. l LLC
By:
oReitz
Attorney for Petitioner
Page 9 of 9
ALLSTATE LIFE INSURANCE CQMPANY
Application for Single Premium Annuity
i. Annuitant
a. Full Name STRIKE DOROTHY _ b. Social Security No. 187-44-7697
(PRINT) Last First Middle
c. Address 105 Frytova Road, Carlisle, Cumberland _ PA 1701:
city
d. Phone ( 717 ) 776-7542 e. Birthdate (MIDly) 09 1 0 54 f. Age 36 g. Sex F
2. Owner
COHMONWEALTH OF PA MEDICAL PROFESSIONAL
a. Name LIABILITY CATAS4'1tOPHE LOSS FUND b. Relation to Annuitant ----------
Address 1062 LANCASTER AVE., ROSEMONT, PA 19010 d (215) 560-5160
No. and Street City State Zip Phone
3. Single Premium $144,144.00 (must be submitted with application)
4. Type of Annuity
Q a. Certain Payments only (Annuitant's survival not required)
® b. Single Life Annuity (submit proof of age, e.g. birth certificate)
? c. Joint and Survivor Life Annuity (submit proof of ages, e.g. birth certificates; also submit LR512)
5. Number of Certain Payments 240 (Enter "0" if none desired)
6. Payment information
a. First payment date (MIDI1f) 0_? t-0-1-j 91
b. Frequency: N Monthly Q Annually ? Irregular
c. Amount(s) of Payments
60 i. Level payments of $ 900-00
? ii. Start payments at $
(percent or amount)
? iii. Irregular Payments
Date Amount Date
08-01706 $10,000 08-0109
08--01-07 $10,000 08-01-10
08-01-08 $10,000 08-01-11
O Other
Increase payments
(frequency and duration
Amount
$10,000
$10,000
$10,000
7. Make payments to rV Annuitant
Date Amount
08-01-12 $10,000
08-01-13 $10,000
? Other designee (give name, address, relation, etc.)
8. Beneficiary (will be the Annuitant's estate if left blank)
a. Primary: Name Michael F. Strine Relation to Annuitant Husband
Monies to be put in trust for:
b. Contingent: Name Amanda Laig)x rtn Relation to Annuitant _ Daughter/Son
The Applicant represents that all statements and answerication are true to the best of his or t
knowledge and belief and completely recorded here' r T
Applicant: ,P.sgA I [1,ZCjAu?
by Date 4 Y- j
Mo. Day N
S0/70'd
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`''~`
TABLE OF CONTENTS
re Contract and Changes .. ........ .... 1
eras Payment Description ................ 1
tract Termination ....................... 1
Day Right to Examine Policy ............. 1
edule of Payments ........... . .......... 3
uitant information ...... ....... 3
a of f=irst Payment ...... ... 3
a of Last Payment ....................... 3
Contract Number .......................... 3
Owner .... .. ........................... 3
Issue Date ............. ... 3
Beneficiary ............................... 4
Change of Beneficiary ... . ........ ......... 4
Incontestability .............. . ............ 4
Minimum Payment Compliance .............. 4
Dividends ..... ..... .................... 4
Page 2
Table,of Contents for LUS69
So/zo,d T9TL009008T Ol SZc8 99L LTL
MdS SN3Z ii I 0 Jd 02: T T 8@ , 90 Sad
• ° laauvu tv me owner (oanea "you') inconsideration of the application, a copy of which is
attached, and your payment of the single premium. This contract and the application are the entire con-
tract. Only our officers may change this contract or waive a right or requirement. No agent may do this.
Allstate Life Insurance Company (called "we" or "us") will pay the Annuitant or the Owner's designee the
Payments shown on Page 3 if the Annuitant is then living. If the Annuitant is not living, the Payments will be
made to the Beneficiary.
This contract terminates when all Payments have been made.
If you are not satisfied with this contract, you may void it by returning it to us or our agent within 10 days
after you receive it. We will give you all of your money back. READ YOUR POLICY CAREFULLY.
Sign
ed forALLSTATE LIFE INSURA N e Office in Northbrook, Illinois.
TUror
Secretary
LU969
Page 1
President
(1-90)
A,,A/ . ?C' -L
Page 4
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ANkiH SN3Z I 1 I 9 ad 6Z : T T 80 , 90 H3j
' Astate Life Insurance Company
;Stock Company Home Office: Northbrook, Illinois 60062
b 25 08 04:48p Blue Chip Svcs
• 717-238-3991
P.3
ABSOLUTE ASSIGNMENT AND UCC ARTICLE 9 SECURITY AGREEMENT
(THE "AGREEMENT") '
February 22, 2008
I, Dorothy L. Shine a/k/a Dorothy Shine, ("I", "Me' or "Assignor") residing at 167 Ken Lin Dr, 9753 am entitled to 240 monthly payments each in the amount of $900.00 commencing on Carlisle, February y , 1991
through and including January 1, 2011 then continuing for life thereafter (the "Periodic Pa account of the
settlement of a certain personal injury claim, the settlement of which is memorialized in that" certain stement
agreement (the "Settlement Agreement°). The Periodic Pa
Liability Catastrophic Loss Fund (the "Settlement Obligor"} under the teurms of the Settlement Agreements anld aFre
being funded by an annuity issued by Allstate Life Insurance Company (the "Annuity Issuer").
A. I hereby sell, assign and convey to Settlement Funding, L.L.C. (the "Assignee's 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:
48 monthly payments each in the amount of $900.00 commencing on December 1 2009
through and including November 1, 2013 (the "Assigned Payments"),
In consideration for this assignment, Assignee shall pay to me the sum of $22,052.06 (the "Assignment Price").
B. I hereby make the following unconditional representations,
v
1 No one other than me has any interest or claim oany 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. 1 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 B 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 Assignee!
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, f=ailure 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 Assignee'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.
3. In the event any of the Assigned Payments are life contingent, Assignee shall have received a fully
paid for life insurance policy acceptable to the Assignee, in its sole discretion, on the life of the
Assignor.
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
Feb 25 08 04:49p Blue Chip Svcs
717-238-3991
p.4
Assignee as General Intangibles under Article 9 of the Uniform Commercial Code of the state designated i
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,
to make periodic payments directly to Assignee as cntemplated by the Unthe Settlement iform CommerciialliCode. Assignee ee may
file a UCC-1 financing statement to perfect its rights hereunder.
rs
F. Except as otherwise required by applicable statutory law, this Agreement shall be govemed 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 writing with the
other parry 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 Associatioin
effect at the time that the demand for arbitration is filed. Discovery, specifically
of documents and depositions shall be at the discretion of the arbitrator and to?the extent permittedshallt be
conducted in accordance with, and govemed 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 orequitable
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
manner, an additional person or entity a , by consolidation or joinder or in any other
m ntainin r, a ty party' to this Agreement, except by written consent of the parties hereto,
g 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 o 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
duly consented to by parties to this Agreement, shall be specifically enforceable in accordance with applicable rlawr
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 substantial)
and shall include legal fees and expenses for the substantially prevailing party. Y 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 action arising out of a breach of the agreement. 9 ny cause of
G. I hereby grant to Assignee an Irrevocable Power of Attorney with full powers of substitution to do all acts and
things that 1 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
alter, edit and change power to
payment instructions and/or beneficiary designations and any other act which, in the sole
discretion of Assignee as my Attomey-in-Fact is necessa or ex
bargain contemplated by this transaction. This ry pedient for it to obtain all of the benefits of the
death or disability. power of attorney is coupled with an interest and shah survive my
H. In the event that prior to the consummation of the transaction contemplated hereby I receive an 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 (s) thereof which
are not included in the payments being absolutely assigned to Assignee hereunder, Ass gneer shall forward such
amount(s) to me at the address set forth above within seven (7) days of receipt of such amount(s).
1=ela. 25 O.8 03:43p Blue Chip Svcs
717-238-3991 p.3
written notice to Assignor, pay any and all amounts necessary or, if the Assignment Price has been de
an escrow account, instruct the escrow agent to pay any and all amounts necessary to discha posited into
rge
adverse claims, and the Assignment Price shall be reduced by the amount of any such pa such liens or other
may include disclosed amounts to be deducted by Assignee from the Assignment rice to y Assignee, Adverse claims
for Peachtree Finance Company, LLC, to enable Assignor to obtain Peachtree Finance Company, L C'sarelease sf
its encumbrance on a portion of the Assigned Payments, which portion of Assigned Paymts transaction(s) consummated prior to the effective date of the applicable transfr act(s) wwh ch encumbrancer must fbeer
released for the transaction contemplated herein to be consummated.
J. I know that it will take some time for the Settlement Obligor and the Annuity Issuer to receive and process
the court order once it is granted. I would like to receive the Assignment Price or a
possible thereafter. Accordingly, I hereby request Assignee to portion thereof as soon as
possible after the court order is granted and authorize Ass' pay me a portion of the Assignment price as soon as
niee to advisable from the Assignment Price (the "Escrow Amount") until al'condi conditions p areced nt have been satisfied, ms necessa or
including, without limitation, the receipt by Assignee of the Settlement Obligor and the Annuity Issuer's
acknowledgment of the terms of the court order in writing and their agreement to honor and comy with such time or earlier as Assignee may determine, I understand that Assignee will send the Escrow Amount ntrto me
minus any Assigned Payments that the Annuity Issuer and/or Settlement Obligor sent to me while the Settlement
Obligor and the Annuity Issuer were processing the court order.
K. This Agreement shall take effect on the date it is signed by me (the Assignor) or on such lat r
prescribed by applicable statutory law. a date
L. All disclosure statements are a material part of this Agreement and shall be read in pari materia herewith.
In witness whereof I hereunto set my hand.]
?? L. Strine a o by Strine
STATE OF 6t
COUNTY OR U I T OF
On the _ day of
r , in the year o?:u before me, the undersigned, personally
appeared Dorothy L. Strine, personally known-to me or proved to me on the basis of satisfactory evidence to be
the individual(s) whose name(s) is (are) subscribed to the within instrument, and acknowledged to me that
he/shelthey executed the same in his/her/their capacity(ies , and that by hir/their the individual(s), or the person upon behalf of which the individual(s) acted, executed therinstrruume t the instrument,
C0114MONwEALTH OF PENNSYLVANIA •?` ?_^?
No4artalseal .?,-=
?Ofr?'. Notwy P N tary
os?u,
colaity
M
y Commission expire MY-Y24,2D11
Accepted: PLEASE DO NOT SIGN THIS
DOCUMENT UNTIL, 2/2212008
Se' lenient , L.L.C.
a e
Ti e•
Date: C,1 ¢,
Feb 25 08 04:55p Blue Chip Svcs
717-238-3991
P.5
Authorization For De?s
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 Cri?+inoroun___d Ch?s
I, Dorothy L. Strine a/k/a Dorothy Strine residing at 167 Ken Lin Dr, Carlisle, PA 17015-9753, 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, Dorothy L. Strine a/k/a Dorothy Strine, hereby request and authorize Mcare f/k/a medical PFL Liability
Catastrophic Loss Fund, Allstate 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 or any other documents deemed necessary by
Settlement Funding, or any of its agents or designees I specifically direct that Mcare flWa Medical PFL Liability
Catastrophic Loss Fund, Allstate 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, coo
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 cooperate with
of any and all documents requested by Settlement Funding or their agents( or esigneeess rega d gMmy
settlement.
Dated: c1;d
4DorroottWhh.ne
a Do y S
STATE OF4
COUNTY OR CITY 6F u -44 • r_.
On the day of 9,r?,. ? , .,
personally appeared DotOth L in the year,?before me, the undersigned,
evidence to be the individual(s) wh senam'e(psj is (are) subs bto me or ed to the within insme on the trument of satisfactory
to me that he/she/they executed the same in hills (are) s b city(ies t, and acknowledged
the instrument, the individual(s), or the person upon behalf of which th thntdivdual(s}ractedS
instrument. texecuteds)the
COMMONWEALTH OF PENNSYLVANIA
Notarial Se
Lisa A Seey, Notary Pubuc
OonunLonEldy2gZA11 Notary
My Commission e !
kJ#eJVptjennsylvarna Acsoctatlon of Notaries ??
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Feb 25 08 03:43p Blue Chip Svcs
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ABSOLUTE ASSIGNMENT AND UCC ARTICLE 9 SECURITY AGREEMENT
(THE "AGREEMENT")
February 22, 2008
I, Dorothy L. Strine a/k/a Dorothy Strine, -Me' Or 'Assignor) residing at 167 Ken Lin Dr,
9753 am entitled to 8 annual payments each in the amount of $10,000.00 commencing on August r1s12006 th o01 h
st
and including August 1, 2013 (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 (the Settlement
The Periodic Payments are due to me from Mcare flkla Medical PFL Liability Catastrophic Loss Fund the
"Settlement ObligorA) under the terms of the Settlement Agreement and are being funded by an Agreement by
Allstate Life Insurance Company (the 'Annuity Issuer") bearing annuity contract number 90 0710nutty issued by
A. 1 hereby sell, assign and convey to Settlement Funding, L.L.C. (the "Assignee") or its assigns all of m rihts
to and interest in and to the following payments due or to become due under the Settlement y g
Agreement:
6 annual payments each in the amount of $10,000.00 commencing on August 1, 2008 through
and including August 1, 2013 (the "Assigned Payments').
In consideration for this assignment, Assignee shall pay to me the sum of: $38,356.64 (the 'Assignment Price").
B. I hereby make the following unconditional representations, 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. 1 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. 1 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 B 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 Assignee'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
transfer by assignment of the Assigned Pa Order). authorizing the
to Assignee, and directing that the Periodic Payments dumay e continue afte thbe made e day of the Order be
forwarded, or authorizing the forwarding of the Periodic Payments, directly to Assignee.
E. Under this Agreement and only to the extent
interest under Article 9 of the Uniform Commercial Code of the state designated naParagrap Ftbelowt in m ri rin
nts
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
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 ma direct
y
Feb 25 08 03:43p Blue Chip Svcs
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any account debtor, obligor on an instrument, including,
to
to make periodic payments directly to Assignee as contmplateedlimitation,
by ? Uni form Settlement Coder Assi'n ele mars
file a UCC-1 financing statement to perfect its rights hereunder. g may
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 ail 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 writing with the
other party 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 Associatioin
effect at the time that the demand for arbitration is filed. Discovery, specifically including inter
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 an othe
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 a
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
therein. The foregoing agreement to arbitrate and other agreements to arbitrate with an additional p s described
duly consented to by parties to this Agreement, shall be specifically enforceable in accordance with applicable orlaw in
any court having jurisdiction thereof.
y
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 ructured
of the domicile state of the y Iwtes between the parties will be governed in accordance with the laws
payee and the domicile state of the payee is the proper venue to bring any cause of
action arising out of a breach a the agreement.
G. I hereby grant to Assignee an Irrevocable Power of Attorney with full
things that I might do regarding the Assigned Payments and any and all rights I have under the Settlement
Agreement, including, without limitation, the pore of substitution to do all acts and
alter, edit and chap a power to endorse checks, drafts or other instruments, the power to
g e instructions and/or beneficiary designations and any other act which, in the so e
discretion of Assignee as my Attomey-in-Fact is necessary or expedient for it to obtain all of the benefits
of
bargain contemplated by this transaction- This power of attorney is coupled with an interest and shall survive the
death or disability.
my
H. In the event that prior to the consummation of the transaction contemplated hereby I receive any of Assigned Payments, or any portion thereof, the Assignment Price shall be reduced in like amount and the t
the
this Agreement regarding the payments to be assigned shall be deemed to be adjusted accordingly. In the event
Assignee receives or otherwise terms of
are not included in the
comes into possession of any of the Periodic Payment(s) or portion(s) thereof which
payments
amount(s) to me at the addrres setborrth aboveabsolutely
within seven (7) days of receipt f such a srg?e shall forward such
1. Assignee shall be entitled to discharge any adverse claims against Assignor' or any ) of Payments whether or not such adverse claims are disclosed. Assignee may, provided Assignee fumeshesig for
s once
Feb 25.08 03:43p Blue Chip Svcs
717-238-3991
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written notice to Assignor, pay any and all amounts necessary or, if the Assignment Price has been deposited
an escrow account, instruct the escrow agent to pay any and all amounts necessary to discha
into
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 ? such liens or other
its encumbrance on a to pay Assignee, as servicer
for Peachtree Finance Company, LLC, to enable Assignor to obtain Peachtree Finance Company, LLC's relea
transaction(s) c on a portion of the Assigned Payments, which portion of Assigned Pa ns of
prior to the effective date of the applicable transr act(s) w
ymts relate to h ch encumbrancer must be
released for the transaction contemplated herein to be consummated.
J. I know that it will take some time for the Settlement Obligor and the Annuity Issuer to receive and
the court order once it is granted. I would like to receive the Assignment Price or a process
portion thereof as soon as
possible thereafter. Accordingly, I hereby request Assignee to pay me a portion of the Assignment Price as soon as
possible after the court order is granted and authorize Assignee to hold in escrow an amount it deems necessary or
advisable from the Assignment Price (the "Escrow Amount") until all conditions precedent have been satisfied
including, without limitation, the recelpt by Assignee of the Settlement Obligor and the Annuity Issuer'
acknowledgment of the terms of the court order in writing and their as
such time or earlier as Assignee may determine, I understand that Assignee twill sseennddrthedEsscrmow Amount to me
minus any Assigned Payments that the Annuity Issuer and/or Settlement Obligor sent tom le the with same. At
Obligor and the Annuity Issuer were processing the court order. a while the Settlement
K. This Agreement shall take effect on the date it is signed by me (the Assignor) or on such la
prescribed by applicable statutory law, ter date
L. All disclosure statements are a material part of this Agreement and shall be read in pari materia herewith.
In witness whereof I hereunto set my hand.
C L. Strine a o y Stri
STATE OF G(
COUNTY OR CITI? OF C ,,
On the day of ?. ,., in the year _
appeared Dorothy L. Strive, personally known ?to me or proved to me on the" basis of satisfactory e?vi
the individual(s) whose name(s) is (are) subscribed to the within instrument, and acknowledged g 'personally
he/she/they executed the same in his/her/their ca ci rY deuce to be
the individual(s), or the pa ty(ies), and that by his/her/their signature(s) on the instrument,
person upon behalf of which the individual(s) acted, executed the instrument.
Notw W seal _, .
CRY o??' " Pubk county N tary
M My
MY Commission expire 24, 2011
Accepted: PLEASE DO NOT SIGN THIS
DOCUMENT UNTIL 2/22/2008
ettlement Fu ing, L.L.C.
o
itI
Date:
_s?c?
Feb 25 •08 03:45p Blue Chip Svcs
Dated: 01 t? `
Da' Strine aa Dorothy S
STATE OF
G.
COUNTY OR CITY OF ,,_ ?E
On the _ day of L-' ?'-(-
Personally appeared Dorothy L. Stride in the year before me, the undersigned,
evidence to be the individual(s) whose name(s) is (are) sub
satisfactory
?Ilknown to me or proved t me on of , scribed to the with not strumtent and basis ac c
knowledged
to me that he/she/they executed the same in his/her/their capacity(ies), and that by his/her/their signature(s) on
the instrument, the individual(s), or the person upon behalf of which the individual(s)' acted ;xecuted the
instrument.
COMMONWEALTH OF PENNSYLVANIA
Nofarfal Sea(
Use A Seay, Notary PuNc
Crw mm E , amogn Camty Notary
My Commission a *resMy24,2011
717-238-3991
P.10
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
outstanding lien or claim (collectively the "Judgments/Claims") including life insurance, P y payment(s) toliliicy payrme a any other ligations of
attorney fees in connection with the consummation of this transaction. nt(s) or any
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 Back round Checks
I, Dorothy L. Strine a/k/a Dorothy Strine residing at 167 Ken Lin Dr, Carlisle, authorize
Settlement Funding or any of its agents or designees, to conduct any and PA 7015-9753, alllcriminal 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
1, Dorothy L. Strine a/k/a Dorothy Strine, hereby request and authorize Mcare f/k/a Medical PFL Liability
Catastrophic Loss Fund, Allstate 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 or any other documents deemed necessary by
Settlement Funding, or any of its agents or designees. I specifically direct that Mcare Wa Medical PFL Liability
Catastrophic Loss Fund, Allstate Life Insurance Company, or any of their su
agents or administrators or any other ccessors, assigns, designees,
person or
Settlement Funding or any of their agents o
operate with
r designeentity garding disclotsureofi°f?aton pertaining or relate
to my settlement or other required documentation. Please provide copies via fax (1.800.600.7161) or otherwise
of any and all documents requested by Settlement Funding or their agents or designees regarding m
settlement.
Y
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
PETITION OF SETTLEMENT )
FUNDING LLC d/b/a PEACHTREE )
SETTLEMENT FUNDING TO ) No.
TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Rights
I, Dorothy Strine, the payee, verify that the statements below are true and correct:
1. Payee's name, address and age: Dorothy Strine residing at 167 Ken Lin Drive, Carlisle, PA
17015-9753 and I am 53 years old.
2.
Marital Status:
Never Married; Married; Separated; _X Divorced
3.
If married or separated, name of spouse:
Minor children and other dependents:
Names, ages, and places of residence: Anthony Strine, Age 17. Anthony resides with me at
the above address.
4.
5.
Income:
(a) Payee's monthly income and sources: I earn $1,600.00 a month as a Senior Teller for
Citizen's Bank. I also receive $500.00 a month in child support payments from my ex-
husband, Michael Strine, for the support and care of my son, Anthony.
(b) If presently married, spouse's monthly income and sources:
Child support, alimony or alimony pendente lite:
Obligation to pay: Yes X No
If yes, state the amount of the obligation, to whom payable, and whether there are
arrearages:
6. Previous transfers:
Have you previously filed a petition to transfer payment rights under the structured settlement
that is the subject of this petition? - Yes _X No
If yes, for each petition that you filed,
(a) If the transfer was submitted for court approval, list the court, the case caption and case
number, and state whether the court approved or disapproved the transfer:
(b) If the transfer was approved,
(i) State the name of the transferee and identify (listing due dates and payment
amount(s), the payments involved in the transfer:
(ii) State the amount of money and the manner in which the money was used:
(c) Have you ever transferred payments without court approval? NO If so, please explain:
7. Reasons for transfer:
Describe in detail your reasons for the proposed transfer, including an explanation as to why a sale of a
lesser amount of the structured settlement will not better serve your interests: I will be using
approximately $10,000.00 from the proceeds I will be receiving from Settlement Funding, LLC to pay
off a debt consolidation loan. I will be using the remaining $45,000.00 towards my mortgage loan. I
will then refinance my mortgage loan and obtain a lower monthly payment which will allow me to add
the funds allotted for these payments back into my monthly budget. Finally, I intend to utilize
approximately $2,823.52 of the proceeds I would receive from this transaction to purchase a term life
insurance policy. I will be the owner of this life insurance policy and I can choose the beneficiary of
this policy. I understand my rights of ownership are limited by a Collateral Assignment of this policy.
This Collateral Assignment provides Settlement Funding will only receive the portion of the life
insurance face value equal to the amount of structured settlement payments transferred but not yet
received if I pass away before November 1, 2013. My beneficiary will receive the remaining face
value. The price of the term life insurance policy was generated from information I have provided to
Settlement Funding. I understand if the information I have provided is not accurate, the price of the
term life insurance could be considerably higher than disclosed. The payments I am proposing to
transfer and assign to Settlement Funding are life contingent structured settlement payments. As such,
if I were to pass away before this agreement reaches full maturity Settlement Funding could lose a
significant portion of their anticipated consideration as proposed under this agreement. Therefore, to
ensure Settlement Funding receives the full benefit of their anticipated consideration and to ensure life
insurance is in place to provide for my beneficiary, I intend to purchase a term life insurance
policy and collaterally assign it to Settlement Funding. A sale of a lesser amount will not allow me to
accomplish these financial goals.
8. Payment of debts:
If you seek the transfer in order to pay debts, list each debt, including the name of the creditor
and the amount presently owed:
Debt
Creditor
Amount Owed
Mortgage
Ocween Federal Bank
$45,000.00
Consolidation Loan Debtscape $10,000.00
Verification
I verify that the statements made in this affidavit are true and correct. I understand that
false statements herein are made subject to the penalties of 18 Pa.C.S. §4904, relating to unsworn
falsification to authorities.
DATE: WA 'Qk D Strin
Feb 25 VS 05:00p Blue Chip Svcs
717-238-3991
PENNSYLVANIA TRANSFER DISCLOSURE
Payee: Dorothy L. Strine Wk a Dorothy Strine; resident of: PA
p.i
A. Amounts and due dates of the structured settlement payments to
be
transferred: 48 monthly payments each in the amount of $900.00 commencin
on December 1, 2009 through and including November 1, 2013. g
8. Aggregate amount of such payments: $43,200.00.
C. (1) Discounted present value of such payments: $36,978.79.
(2) The discount rate used in determining such discounted present value:
percent as of February 12, 2008. 4.20
D. Gross amount payable to the Payee in exchange for such payments:
$22,052.06.
E. Itemized listing of all brokers' commissions, service charges, application
processing fees, closing costs, filing or administrative chargeegal fe sr
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: WAIVED; Processing Fee: $200.00; Term Life
Insurance Policy: $2,823.52.
F. Net amount payable to Payee after deduction of all commissions, fees costs,
expenses and charges described above: $19,028.54 minus any advances
made to Payee against the amount payable to Payee.
G. An estimate of the Administrative fee(s) being charged by the Annuity Owner
and or the Annuity Issuer to be paid by the transferee (not the consumer) as a
result of the transfer: Allstate Life Insurance Company - $750.00.
H. The quotient, expressed as a percentage, obtained payment amount by the discounted present value of the payments: 51.4fi /o.
1. 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 o the
transfer agreement by the Payee: NONE.
Feb 25 08 04:58p Blue Chip Svcs
717-238-3991
P. is
J. Payee acknowledges receipt of, and acknowledges to have read and
understood, the above disclosure statement and information required to be
disclose b ayee's applicable state statute(s).
initials:
By signing below you are confirming that you received a copy of this disci
at least 10 days prior to executing your transfer agreement. osure
orot y L. Strine a/ a Do r1
Y trine
?j- A -1
Date
PENNSYLVANIA TRANSFER DISCLOSURE
Payee: Dorothy L. Strine a/k/a Dorothy Strine; resident of: PA
A. Amounts and due dates of the structured settlement a
transferred: 6 annual a p yments to be
p yments each in the amount of $109000.00 commencing
on August 1, 2008 through and including August 1, 2013.
B. Aggregate amount of such payments: $60,000.00.
C. (1) Discounted present value of such payments: $53,155.22.
(2) The discount rate used in determining such discounted resent v
percent as of February 12, 2008. p alue: 4.20
D. Gross amount payable to the Payee in exchange for suc
$38,356.64. h payments:
E. Itemized listing of all brokers' commissions, service charges, application
processing fees, closing costs, filing or administrative charges, legal fee or
s,
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; Processing Fee: $200.00. p able
F. Net amount payable to Payee after deduction of all commissions
fees,
expenses and charges described above: $36,156.64 minus any advances
made to Payee against the amount payable to Payee. s
G. An estimate of the Administrative fee(s) being charged b the Annuity
and or the Annuity Issuer to be paid by the transferee (not the consum Owner
result of the transfer: Allstate Life Insurance Company - $750.00.
H. The quotient, expressed as a percentage, obtained b dividing
payment amount by the discounted present value of the payments6.02 o. net
1. Amount of any penalty and the aggregate amount of an
inclusive of penalties y liquidated damages,
payable by the Payee in the event of any breach of the
transfer agreement by the Payee: NONE.
?-1
Feb 25 08 04:58p Blue Chip Svcs
• 717-238-3991 P.16
J- Payee acknowledges receipt of, and acknowledges to have read
understood, the above disclosure statement and information re ui ed t and
disclose b ayee's applicable state statute(s). q o
Initials:
By signing below you are confirming that you received a copy of this
at least 10 days prior to executing your transfer agreement. disclosure
orot L. Strine a/ a Do
y trine
Date
Feb 25 08 03:50p Blue Chip Svcs
717-238-3991 p.2
NOTIC?
Payee: Dorothy L. Strine a/k/a Dorothy Strine
IMPORTANT NOTICE: You are strongly urged to consult with an attorne
can advise you of the potential tax consequences of this transaction. y who
acknowledge receipt of the above notice.
By signing below you are confirming that you received a copy of this notice
least 10 days prior to executing your transfer agreement. at
Doro h L. S We k-7?c
y n4Wj-aD-orothy St rye 61- Date
Feb 25 08 05:00p Blue Chip Svcs
717-238-3991
p.2
NOTICE (PA)
Payee: Dorothy L. Strine a/k/a Dorothy Strine
IMPORTANT NOTICE: You are strongly urged to consult with an attorn
can advise you of the potential tax consequences of this transaction. ey who
I acknowledge receipt of the above notice.
By signing below you are confirming that you received a cop of this
least 10 days prior to executing your transfer agreement. y notice at
orot . Strine a/I a oro - S ine
Date
-Iifl,
Feb 25 08 03:50p Blue Chip Svcs
717-238-3991 p.4
A IT (PA)
Payee: Dorothy L. Strine a/k/a Dorothy Strine
(Please initial the following statement)
1 expressly waive independent legal advice regarding the implications of
the transfer, including considerations of the tax ramifications of the
transfer.
L
IL
(Initials)
?C'9t,771Ll
Do &4-L. S ne k/a Dorothy S dine
Date
Feb 25 08 05:01p
Blue Chip Svcs
717-238-3991
ACKNOWLEDGEMENT (PA)
Payee: Dorothy L. Strine alk/a Dorothy Strine
(Please initial the following statement)
p.4
I expressly waive independent legal advice regarding the implications
the transfer, including considerations of the tax ramificaton of
transfer. s of the
Lq-
(Initials)
Strine a/k/a Dorothy
i Ate
. ,-;u-of
Date
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
PETITION OF SETTLEMENT )
FUNDING, LLC d/b/a PEACHTREE )
SETTLEMENT FUNDING TO ) No.
TRANSFER STRUCTURED )
SETTLEMENT PAYMENT RIGHTS )
(PAYEE, DOROTHY L. STRINE)
CERTIFICATION OF COUNSEL
Ronald E. Reitz, Esquire, attorney for Settlement
Funding LLC d/b/a Peachtree Settlement Funding, hereby sets
forth the following:
1. I, Ronald E. Reitz, am counsel of record in this
matter for Settlement Funding, LLC d/b/a Peachtree
Settlement Funding.
2. Based on materials provided to me by Settlement
Funding, and upon reasonable investigation and inquiry,
including my discussions with the Payee, the transfers set
forth in the subject Petition comply with all requirements
of the Structured Settlement Protection Act, 40 P.S. §
4001-4009, and do not contravene any applicable Federal or
State statute or regulation, or order of any court or
administrative authority.
3. This Certification is made to the best of my
knowledge, information and belief pursuant to Pa.R.C.P.
229.2.
4 U-
Ronald E. Reitz
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MAR 0 3 2008 ? tA
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
IN RE: PETITION OF SETTLEMENT
FUNDING, LLC d/b/a/
PEACHTREE SETTLEMENT
FUNDING TO TRANSFER
STRUCTURED SETTLEMENT
PAYMENT RIGHTS
(PAYEE, DOROTHY L. STRIKE)
No. ng
INITIAL ORDER OF COURT
On this day of tOQOLA LA' , 2008, it is
ordered that a hearing on this Petition to Transfer
Structured Settlement Payment Rights will be held on
J1. /JJSVtq , in Courtroom o? at
?-95 AP. o'clock. The payee shall bring income tax
returns for the prior two (2) years to the hearing.
Within seven (7) days, the transferee shall give
notice of the hearing date to the payee, the structured
settlement obligor, the annuity issuer, the payee's spouse
and any person receiving child support, alimony, or alimony
pendente lite. The transferee shall attach a certificate
of service to the notice of hearing date. A copy of the
notice with the certificate of service sh"l 'filed with
the court prior to the hearin
BY THE COUVV-
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IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
CIVIL DIVISION
IN RE: PETITION OF SETTLEMENT )
FUNDING, LLC d/b/a/ )
PEACHTREE SETTLEMENT ) No. 08-1355
FUNDING TO TRANSFER )
STRUCTURED SETTLEMENT )
PAYMENT RIGHTS )
(PAYEE, DOROTHY L. STRINE)
NOTICE OF HEARING ON PETITION TO
TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS
To: MCare: f/k/a Medical PFL Liability
Catastrophic Loss Fund
30 North Third Street
8th Floor, Suite 800
Harrisburg, PA 17101
("Settlement Obligor")
Allstate Life Insurance Company
544 Lakeview Parkway, L3F
Vernon Hills, IL 60061
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Dorothy Strine
167,., Ken Lin Dr.
Carl-isle, PA 17015-9753
("Payee")
You are hereby given notice that Settlement Funding
LLC has filed a petition to transfer structured settlement
payment rights. A hearing in this matter has been
- scheduled on Monday, March 31, 2008 at 8:45 a.m. in
Courtroom No. 2 before Hon. Edgar B. Bayley. Cumberland
County Courthouse, One Courthouse Square, Carlisle, PA
17013.
You are entitled to support, oppose or otherwise
respond to the payee's petition, either in person or by
counsel, by filing written comments with the court prior to
the hearing or by attending the hearing.
3- ?- O0 Settlement Funding LLC
Date
c/o Ronald E. Reitz
Swartz Campbell LLC
600 Grant Street
4750 U.S. Steel Tower
Pittsburgh, PA 15219
(412) 232-9800
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of this
NOTICE OF HEARING ON PETITION FOR TRANSFER OF STRUCTURED
SETTLEMENT PAYMENT RIGHTS has been served by UPS overnight
mail, on this V- day of /J?64, 2008, on:
MCare: f/k/a Medical PFL Liability
Catastrophic Loss Fund
30 North Third Street
8th Floor, Suite 800
Harrisburg, PA 17101
("Settlement Obligor")
Allstate Life Insurance Company
544 Lakeview Parkway, L3F
Vernon Hills, IL 60061
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Kurt Moody, Esquire
Structured Settlements-In-House Counsel
Peachtree Settlement Funding
3301 Quantum Boulevard, Second Floor
Boynton Beach, FL 33426
("Transferee")
Dorothy Strine
167 Ken Lin Dr.
Carlisle, PA 17015-9753
("Payee")
Swartz pbell LLC
By:
ald E. Reitz
Attorney for Petitioner
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IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
CIVIL DIVISION
IN RE: PETITION OF SETTLEMENT )
FUNDING, LLC d/b/a )
PEACHTREE SETTLEMENT ) No. 08-1355
FUNDING TO TRANSFER )
STRUCTURED SETTLEMENT )
PAYMENT RIGHTS )
(PAYEE, DOROTHY L. STRINE) )
ORDER
AND NOW, this jljkldl-ay of March, 2008, upon consideration of the unopposed
IF-
petition of Settlement Funding, L.L.C. ("Settlement Funding"), the Court hereby finds as
follows:
1. This Court has jurisdiction over this matter pursuant to the Pennsylvania
Structured Settlement Protection Act, 40 P.S. § 4001 et seq.
2. Dorothy L. Strine a/k/a Dorothy Strine ("Ms. Strine") is entitled to receive certain
guaranteed payments, specifically annual payments of $10,000.00 each, commencing on August
1, 2006 through and including August 1, 2013, and monthly payments of $900.00 each,
commencing on February 1, 1991 through and including January 1, 2011 (the "Guaranteed
Payments"), and certain life contingent payments, specifically monthly payments of $900.00
each, commencing on February 1, 2011 and for life thereafter (the "Life Contingent Payments")
under a structured settlement agreement and related annuity contract nos. 90600710 and
90600709 (collectively, the "Annuity"). The Life Contingent Payments are not due and payable
unless Ms. Strine is alive at the time each such payment is due.
3. The transfer of the structured settlement proceeds, specifically annual payments
of $10,000.00 each, commencing on August 1, 2008 through and including August 1, 2013,
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monthly payments of $900.00 each, commencing on December 1, 2009 through and including
January 1, 2011 (the "Assigned Guaranteed Payments"), and monthly payments of $900.00 each,
commencing on February 1, 2011 through and including November 1, 2013 (the "Assigned Life
Contingent Payments") (collectively, the Assigned Guaranteed Payments and the Assigned Life
Contingent Payments shall be referred to as the "Assigned Payments"), by Ms. Strine to
Settlement Funding as described in the purchase agreements between Ms. Strine and Settlement
Funding (collectively, the "Purchase Agreement") and in the petition in this matter (the
"Proposed Transfer") (i) does not contravene any applicable federal or state statute or the order
of any court or responsible administrative or governmental authority or any applicable law
limiting the transfer of workers' compensation claims, and (ii) is in the best interest of Ms.
Strine, taking into account the welfare and support of Ms. Strine's dependents.
4. The Proposed Transfer complies with the requirements of the Structured
Settlement Protection Act, 40 P.S. § 4001 et seq. and 215 ILCS 153/1 et seq., and does not
contravene other applicable law.
5. Not less than ten (10) days prior to the date on which Ms. Strine first incurred any
obligation with respect to the Proposed Transfer, Settlement Funding provided to Ms. Strine a
disclosure statement in full compliance with 40 P.S. § 4003(a)(2).
6. Ms. Strine has received, or expressly waived in a separate written
acknowledgement signed by Ms. Strine, independent legal advice regarding the implications of
the Proposed Transfer, including consideration of the tax ramifications of the Proposed Transfer.
7. Settlement Funding and Ms. Strine have given written notice of Settlement
Funding's name, address, and taxpayer identification number to Mcare f/k/a Medical
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Professional Liability Catastrophe Loss Fund ("Mcare") and Allstate Life Insurance Company
("Allstate Life"), and have filed a copy of such notice with the Court.
8. Settlement Funding and Ms. Strine have timely filed and served on all interested
parties, including Allstate Life and Mcare, a notice of the Proposed Transfer and the application
for its authorization in compliance with the requirements of 40 P.S. § 4004.
9. Ms. Strine has consented, in writing, to the Proposed Transfer.
Based upon the foregoing findings, IT IS HEREBY ORDERED that:
Pursuant to 40 P.S. § 4003, the Proposed Transfer is approved. Until the due date
of the last Assigned Guaranteed Payment, the designated beneficiary under the Annuity shall be
the Estate of Ms. Strine. However, the death of Ms. Strine prior to the due date of the last
Assigned Guaranteed Payment shall not affect the transfer of the Assigned Guaranteed Payments
from Ms. Strine to Settlement Funding, and Ms. Strine understands she is giving up her rights,
and the rights of her heirs, successors and/or beneficiaries, to the Assigned Guaranteed
Payments.
2. The Assigned Life Contingent Payments are not due and payable unless Ms.
Strine is alive at the time each such payment is due. Nothing in the subject Petition, the
Proposed Transfer, the parties' Stipulation or any other matter changes the fact that each of the
Life Contingent Payments is owed only if Ms. Strine is alive at the time each such payment is
due.
3. Allstate Life shall forward the Assigned Payments, within 7 days of the date due,
by check made payable to "Settlement Funding, LLC," at P.O. Box 116476, Atlanta, GA 30368-
6476 as follows: annual payments of $10,000.00 each, commencing on August 1, 2008 through
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and including August 1, 2013, and monthly payments of $900.00 each, commencing on
December 1, 2009 through and including November 1, 2013.
4. Settlement Funding shall provide to Allstate Life, within ninety (90) days prior to
February 1, 2011, written confirmation contemporaneously signed by Ms. Strine and notarized
that Ms. Strine is alive (the "Initial Required Confirmation"). Beginning ninety (90) days after
the date of the Initial Required Confirmation, and every ninety (90) days thereafter and at any
time upon reasonable request of Allstate Life, until the due date of the last Assigned Life
Contingent Payment, Settlement Funding shall provide Allstate Life with written confirmation,
contemporaneously signed by Ms. Strine, that Ms. Strine is alive (the "Required Confirmation").
To obtain the Required Confirmation, Settlement Funding shall send a series of quarterly letters
to Ms. Strine. Within ten (10) days of the receipt of each such letter, Ms. Strine will sign where
appropriate and return the letter to Settlement Funding in the self-addressed, stamped envelope
accompanying the letter. In addition, Settlement Funding shall hire an independent mortality
tracking company (i.e., The Berwyn Group) to track Ms. Strine's mortality quarterly throughout
the duration of the Assigned Life Contingent Payment stream. Each Required Confirmation will
be sent to the attention of Lisa Sterner, Allstate Financial, 544 Lakeview Parkway, L3F, Vernon
Hills, IL 60061 (or such other Allstate Life representative and/or address subsequently
designated by Allstate Life in a written notice to Settlement Funding). Ms. Strine and Settlement
Funding shall cooperate with one another and with Allstate Life for purposes of providing each
Required Confirmation. In the event Settlement Funding acquires information indicating that
Ms. Strine has died, Settlement Funding shall immediately provide Allstate Life with this
information in writing directed to Allstate Life at the address listed above (or to any designated
successor Allstate Life representative or address).
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5. If Settlement Funding fails to provide any Required Confirmation that Ms. Strine
is alive, or if Allstate Life has any reasonable basis to believe that Ms. Strine has died, Allstate
Life may suspend making the Assigned Life Contingent Payments until Allstate Life has
received the Required Confirmation of Ms. Strine's survival.
6. In any event, to the extent any of the Assigned Life Contingent Payments are
made by Allstate Life to Settlement Funding after the death of Ms. Strine, Settlement Funding
will reimburse Allstate Life with funds in the amount of such Assigned Life Contingent
Payments, plus interest at 6% per annum from the date that the funds were paid through the date
reimbursement is tendered.
7. In the event Settlement Funding further assigns or otherwise transfers the
Assigned Payments (or any portion thereof or interest therein) to another person or entity (a
"Reassignment"), Allstate Life will not itself be obligated to redirect the Assigned Payments (or
any portion thereof) to any person or entity other than Settlement Funding or to any payment
address other than that specified herein, and Settlement Funding shall remain obligated to
comply with all terms and conditions herein. However, if Settlement Funding moves, or later
merges with or is acquired by another entity, or its designated payment address is no longer
viable for reasons beyond its control, Allstate Life agrees to make payment to the new entity or
new payment address upon the timely submission by Settlement Funding of a written notice to
Allstate Life confirming that such event has occurred and specifying the new entity and/or
payment address. Notwithstanding the foregoing, the parties' Stipulation will remain binding
and fully enforceable against Settlement Funding.
All remaining Periodic Payments (and/or portions thereof), if any, that are not the
subject of the Proposed Transfer and not previously assigned, shall be made payable to Ms.
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Strine and will be forwarded by Allstate Life, if and when due, to Ms. Strine's most recent
known address or any payment address designated by Ms. Strine, subject to the consent of
Allstate Life and Mcare.
9. Settlement Funding shall defend, indemnify, and hold harmless Allstate Life and
Mcare and their respective directors, shareholders, officers, agents, employees, servants,
successors, and assigns, and any parent, subsidiary, or affiliate thereof, and their directors,
shareholders, officers, agents, employees, servants, successors, and assigns, past and present,
from and against any and all liability, including but not limited to costs and reasonable attorney's
fees, for any and all claims made in connection with, related to, or arising out of the Purchase
Agreement, the Proposed Transfer, the Assigned Payments, any Reassignment, or Allstate Life's
compliance with the parties' Stipulation or Allstate Life's and Mcare's compliance with this
Order, except with respect to claims by Settlement Funding against Allstate Life to enforce
Allstate Life's obligations to Settlement Funding under the parties' Stipulation.
10. Allstate Life's lack of opposition to this matter, or its or Settlement Funding's
stipulation hereto or compliance herewith, shall not constitute evidence in this or any matter, and
is not intended to constitute evidence in this or any matter, that:
(a) payments under a structured settlement contract or annuity or related
contracts can be assigned or that "anti-assignment" or "anti-encumbrance"
provisions in structured settlement contracts or annuities or related
contracts are not valid and enforceable; or
(b) other transactions entered into by Settlement Funding and its customers
constitute valid sales and/or loans; or
(c) Allstate Life has waived any right in connection with any other litigation
or claims; or
(d) Settlement Funding has waived any right other than as expressly set forth
in the parties' Stipulation and/or this Order.
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11. Settlement Funding and Ms. Strine, for themselves and for their respective
directors, shareholders, officers, agents, employees, servants, successors, heirs, beneficiaries,
contingent beneficiaries, executors, administrators, and assigns, and any parent, subsidiary, or
affiliate thereof, and their directors, shareholders, officers, agents, employees, servants,
successors, and assigns, past and present (the "Releasors"), hereby remise, release and forever
discharge Allstate Life and Mcare and their respective directors, shareholders, officers, agents,
employees, servants, successors, and assigns, and any parent, subsidiary, or affiliate thereof, and
their directors, shareholders, officers, agents, employees, servants, successors, and assigns, past
and present (the "Releasees"), of and from any and all manner of actions and causes of action,
suits, debts, dues, accounts, bonds, covenants, contracts, agreements, judgments, settlements,
damages, claims, and demands whatsoever, in law or in equity, in connection with, related to, or
arising out of any claim or allegation that was or could have been asserted in connection with,
related to, or arising out of the Purchase Agreement, the Assigned Payments, the Proposed
Transfer, or the parties' Stipulation, which the Releasors have or had from the beginning of the
world through the date of this Order, except for claims of the Releasors against the Releasees to
enforce the Releasees' obligations to Releasors, if any, under the parties' Stipulation or this
Order. Is ?
DONE IN OPEN COURT this
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