HomeMy WebLinkAbout08-1389MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson
Receivables Origination, LLC and
Julie Charles ,
NO: 08 -138? 1.1 u?j,ll-
NOTICE OF HEARING ON PETITION TO TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS
To: Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Julie Charles
125 Hill Lane
Newville, PA 17241
Confederation Life Insurance and Annuity
Company c/o Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Lawrence J. Rosen, Esquire
Krevsky & Rosen, P.C.
Attorney for Julie Charles
1101 N. Front Street
Harrisburg, PA 17102-3324
You are hereby given notice that 321 Henderson Receivables Origination, LLC and
JULIE CHARLES have filed a petition to transfer structured settlement payment rights. A
hearing in this matter has been scheduled on , 2008 at o'clock in courtroom
no. courthouse, Cumberland County Court of Common Pleas, 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.
The Name, Address and Tax Identification number of the transferee is 3;1
Receivables Origination, LLC. 40 Morris Avenue, Bryn Maw _, l 1710, I.
4728885
2 - ?- -0 6 BY:
Date
Attorney for 321 Henderson
Receivables Origination, LLC.
1115 W. Main Street
Norristown, PA 19401
(610) 275-9600
(610) 275-9666(facsimile)
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO: 6 ?' } fJ C
Receivables Origination, LLC and
Julie Charles
INITIAL ORDER OF COURT
On this day of 2008, it is ordered that a hearing on this
Petition to Transfer Structured Settlement Payment Rights will be held on
, in Courtroom at o'clock. The payee shall bring
income tax returns for the prior two (2) years to the hearing.
Within sever (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 shall be filed with the court prior to the hearing.
BY THE COURT:
J.
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO: d F- 1,3 J-y
Receivables Origination, LLC and
Julie Charles .
FINAL ORDER OF COURT
On this Day of , 2008, it is ordered that the Petition to
Transfer of Structured Settlement Payment Rights is granted.
The court specifically finds that:
(1) the payee has established that the transfer is in the best interests of the payee
or the payee's dependents;
(2) based on the certification by an attorney for the transferee, and the court
having not been made aware of any statute, regulation or order that would be
incompatible with the proposed transfer, the transfer will not contravene any
applicable federal or state statue or regulation, or the order of any court or
administrative authority;
(3) the transfer complies with the remaining requirements of the Structured
Settlement Protection Act, including Sections 3(a)(2), 3(a)(4), 3(a)(5) and
3(a)(6);
(4) the payments that are to be transferred are designated as
follows:
a. 1 payment of $448.64 on March 24, 2008; and
b. 12 monthly payments of $457.61 each, beginning on
April 24, 2008 and ending on March 24, 2009; and
c. 12 monthly payments of $466.76 each, beginning on
April 24, 2009 and ending on March 24, 2010; and
d. 12 monthly payments of $476.10 each, beginning on
April 24, 2010 and ending on March 24, 2011; and
e. 12 monthly payments of $485.62 each, beginning on
April 24, 2011 and ending on March 24,2012; and
f. 1 payment of $20,000.00on March 24, 2012; and
g. 12 monthly payments of $495.33 each, beginning on
April 24, 2012 and ending on March 24, 2013; and
h. 12 monthly payments of $505.24 each, beginning on
April 24, 2013 and ending on March 24, 2014; and
i. 12 monthly payments of $515.34 each, beginning on
April 24, 2014 and ending on March 24, 2015; and
j. 12 monthly payments of $525.65 each, beginning on
April 24, 2015 and ending on March 24, 2016; and
k. 12 monthly payments of $536.16 each, beginning on
April 24, 2016 and ending on March 24, 2017; and
1. 1 payment of $27,202.81 on March 24, 2017; and
m. 12 monthly payments of $546.89 each, beginning on
April 24, 2017 and ending on March 24, 2018; and
n. 12 monthly payments of $557.82 each, beginning on
April 24, 2018 and ending on March 24, 2019; and
o. 11 monthly payments of $568.98 each, beginning on
April 24, 2019 and ending on February 24, 2020.
(5) the terms of this order shall survive the death of the payee and shall be
binding on the payee's heirs, beneficiaries and assigns;
(6) the payee shall receive from the transferee, as of , the amount of
$55,439.45, from which no funds are owed for counsel fees, administrative
fees, or other costs, fees or expenses.
BY THE COURT:
J.
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO: 138f L-1
Receivables Origination, LLC and :
Julie Charles ,
JOINT PETITION FOR PARTIAL TRANSFER OF STRUCTURED
SETTLEMENT PURSUANT TO STRUCTURED SETTLEMENT PROTECTION
ACT. 40 P.S. 4000. ET SEO.
TO THE HONORABLE JUDGES OF SAID COURT:
And now comes your petitioner, 321 Henderson Receivables Origination, LLC,
by and through its attorneys, Maro & Maro, P.C., and joint petitioner, Julie Charles, and
in accordance with the applicable rules of Pennsylvania Civil Procedure, hereby
represents as follows:
1. Petitioner is 321 Henderson Receivables Originations, LLC. ("Buyer" or
Transferee"), with an office address located at 40 Morris Avenue, Bryn Mawr,
Pennsylvania, 19010.
2. Joint Petitioner is, Julie Charles ("Payee"), an adult individual who
resides at 125 Hill Lane, Newville, PA 17241.
3. This Joint Petition has been verified by the Transferee, 321 Henderson
Receivables Origination, LLC. and the, Petition includes all necessary information as
prescribed by PA R.C.P. 229.2(d) et al and Section 3 of the Act, 40 P.S. §4001 et seq.
4. Pursuant to PA. R.C.P. No. 229.2(d)(3) there are four (4) attachments
incorporated herein as follows:
a. PA R.C.P. 229.2(d)(3)(i) Payee's Affidavit in Support of Petition.
Please see Attachment/Exhibit "I"; and
b. PA. R.C.P. 229.2(d)(3)(ii) An Initial Order of Court Scheduling
Hearing;
c. PA. R.C.P. 229.2(d)(3)(iii) A certification by Robert A. Maro, Esquire,
attorney for transferee, 321 Henderson Receivables Originations,
LLC.; and
d. PA. R.C.P. 229.2(d)(3)(iv) A Final Order of Court Granting
he Petition.
5. Joint Petitioner, Julie Charles, is the beneficiary of an annuity owned by
Confederation Life Insurance And Annuity Company c/o Pacific Life Insurance
Company and issued by Pacific Life Insurance Company. The structured settlement
provides payment to the petitioner as described on Attachment/Exhibit "2".
6. Joint Petitioner, Julie Charles, was represented by independent counsel in this
transaction. Joint Petitioner, Julie Charles and her attorney have reviewed and discussed
the terms of this transaction together and fully understating the terms therein, freely and
voluntarily executed the Purchase Agreement, Exhibit "A" to the Purchase Agreement
and the Disclosure Statement. A letter of representation from the attorney for Julie
Charles is attached hereto, incorporated herein and marked Attachment/Exhibit "3".
7. Joint Petitioner, Julie Charles, proposes to enter into a purchase agreement
with 321 Henderson Receivables Origination LLC., its nominees, successors, or assigns,
whose address is 40 Morris Avenue, Bryn Mawr, Pennsylvania, 19010, who will
purchase the following from Petitioner's structured settlement as follows:
a. 1 payment of $448.64 on March 24, 2008; and
b. 12 monthly payments of $457.61 each, beginning on
April 24, 2008 and ending on March 24, 2009; and
c. 12 monthly payments of $466.76 each, beginning on
April 24, 2009 and ending on March 24, 2010; and
d. 12 monthly payments of $476.10 each, beginning on
April 24, 2010 and ending on March 24, 2011; and
e. 12 monthly payments of $485.62 each, beginning on
April 24, 2011 and ending on March 24, 2012; and
f. 1 payment of $20,000.00on March 24,2012; and
g. 12 monthly payments of $495.33 each, beginning on
April 24, 2012 and ending on March 24, 2013; and
h. 12 monthly payments of $505.24 each, beginning on
April 24, 2013 and ending on March 24, 2014; and
i. 12 monthly payments of $515.34 each, beginning on
April 24, 2014 and ending on March 24, 2015; and
j. 12 monthly payments of $525.65 each, beginning on
April 24, 2015 and ending on March 24, 2016; and
k. 12 monthly payments of $536.16 each, beginning on
April 24, 2016 and ending on March 24, 2017; and
1. 1 payment of $27,202.81 on March 24, 2017; and
m. 12 monthly payments of $546.89 each, beginning on
April 24, 2017 and ending on March 24, 2018; and
n. 12 monthly payments of $557.82 each, beginning on
April 24, 2018 and ending on March 24, 2019; and
o. 11 monthly payments of $568.98 each, beginning on
April 24, 2019 and ending on February 24, 2020.
8. The structured settlement is currently owned by Confederation Life Insurance
And Annuity Company c/o Pacific Life Insurance Company and issued by Pacific Life
Insurance Company and the net amount in return payable to Julie Charles is $55,439.45
from Buyer. A copy of the Purchase Agreement, Exhibit "A' to the Purchase Agreement
and Disclosure Statement is attached hereto, made apart hereof, and designated
Attachment/Exhibit "4".
9. The net amount payable to the payee after deduction of all commissions,
fees, costs, expenses, and charges is $55,439.45.
10. Based on the net amount that the payee will receive from this transaction
$55,439.45 and the amounts and timing of the structured settlement payments that
would be assigned, the payee is, in effect, paying interest at a rate of 13.94% per
year.
11. The Buyer furnished Julie Charles with a Disclosure Statement pursuant to 40
P. S. 4003 See Attachment/Exhibit "4") at least ten (10) days prior to the date on which
Julie Charles first incurred any obligation to the Buyer.
12. PA R.C.P. 229.2(b) requires the petition to be filed in the county in which the
payee is domiciled See also Section 4 of the Act 40 P.S. §4004). PA.R.C.P. 229.2(c)
also requires both the Transferee and Payee to be parties to the Joint Petition. Both
requirements have been fulfilled herein.
13. Written notice of the Transferee's Names, address and taxpayer identification
number has been given to the Annuity Issuer and Structured Settlement Obligor. A copy
of the Notice to the structured settlement obligor is attached hereto as Attachment/Exhibit
"5". Joint Petitioners wills also serve written notice as required by 40 P.S. 4004 upon
all interested parties.
14. The Joint Petitioner's best interest would be served by granting the relief
requested herein for the following reasons. Joint petitioner has no minor children and is
not married. Joint Petitioner has two (2) adult children, Catrina (Age 24) and Jacel (Age
21). Joint Petitioner also looks over and cares for her father, William E. Somero (Age
81). Ms. Charles has never transferred any amount of her structured settlement in the
past. The purpose of this partial transfer is to prevent her home from being foreclosed
upon. Joint Petitioner is only selling a portion of her structured settlement. Ms. Charles
will continue to receive monthly payments through her annuity until April of 2038 along
with three (3) more lump sum payments. To avoid foreclosure and protect the equity in
her home, this transfer is clearly within the best interest of Ms. Charles.
WHEREFORE, Joint Petitioner's respectfully requests this Honorable Court to
enter the Initial Order attached to this petition which shall schedule a hearing so that
Transferee and Payee shall have the opportunity to discuss the purpose and reasons for
the transfer and after hearing thereon, respectfully request that this Honorable Court enter
a Final Order approving the Transfer of Structured Settlement Payments Rights as is
mentioned herein.
By:
ttorney for Transferee
Maro & Maro, P.C.
VERIFICATION
I, Maureen Healy, Vice President of 321 Henderson
Receivables Origination LLC, have read the foregoing Petition to Transfer Structured
Settlement Payment Rights between 321 Henderson Receivables Origination LLC and
Julie Charles and hereby aver that the statements contained therein are true and correct to
the best of my knowledge, information and belief.
This Verification is made subject to the penalties of 18 Pa.C.S.A. Section 4904
relating to the unworn falsification to authorities.
Maureen Healy, VP
2.28.08
Date
CERTIFICATION OF ATTORNEY FOR TRANSFEREE
I, Robert A. Maro, Esquire, attorney for Transferee, 321 Henderson Receivables
Originations, LLC., hereby certify to the best of my knowledge, information and belief,
formed after reasonable inquiry, that the Transfer will comply with the requirements of
the Act (40 P.S. § 4000 et seq.) and will not contravene any other applicable federal or
state statute or regulation or the order of any court or administrative authority.
I, Robert A. Maro, Esquire, attorney for Transferee, 321 Henderson Receivables
Originations, LLC., hereby verify that the facts and statements set forth herein are true
and correct to the best of my knowledge, information and belief. I understand that false
statements made herein are subject to the penalties of 18 Pa. C.S.A. Section 4904 relating
to unsworn falsification of authorities.
?j
Date am cm rre
Attorney for Transferee, 321
Henderson Receivables Originations,
LLC.
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO:
Receivables Origination, LLC and
Julie Charles
CERTIFICATE OF SERVICE
I, Robert A. Maro, Esquire, hereby certify that a true and correct copy of the
Petition for Transfer of Partial Structured Settlement has been served upon the following
entities via first class mail and/or certified return receipt requested and/or email on :
Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Julie Charles
125 Hill Lane
Newville, PA 17241
Confederation Life Insurance and Annuity
Company c/o Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Date: ) - ?- ° -o u
By:
Lawrence J. Rosen, Esquire
Krevsky & Rosen, P.C.
Attorney for Julie Charles
1101 N. Front Street
Harrisburg, PA 17102-3324
Attorney for 321 Henderson Receivables
Originations, LLC.
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO:
Receivables Origination, LLC and
Julie Charles
Entry of Appearance
TO THE PROTHONOTARY/CLERK OF SAID COURT
Enter my appearance on behalf of: 321 Henderson Receivables Origination. LLC.
Papers may be served at the address set forth below.
Respectfully Submitted:
Maro & Ward. P.
By:
Attorney I.D. No 89585
Maro & Maro, P.C.
1115 W. Main Street
Norristown, PA 19401
(610) 275-9600(office)
(610) 275-9666(Fax)
ATTACHMENT/EXHIBIT "1"
Account ID: 359450
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Rights
I, Julie Charles, the payee, verify that the statements below are true and correct:
Payee's name, address and age: Julie Charles / 125 Hill Lane
Newville, PA 17241/ 46.
1. Marital Status:
Never Married; Married; Separated; Divorced _4 If married or separated, name of spouse: N/A
3. Minor Children and other dependents:
Names, ages, and places of residence: N/A
4. Income:
I am self-employed though Ebay earning $15,000.00 annually.
If presently married, spouse's monthly income and sources: N/A
5. 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
Account ID: 359450
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:
State the amount of money and the manner in which the
money was used:
(c) Have you ever transferred payments without court approval? If so,
please explain: No
7. Reasons for transfer:
Describe in detail you reasons for the proposed transfer, including an
explanation as to why a sale of a lesser amount of the structured settlement
amount will better serve your interests: I want to use the money from this transfer
to save my home from foreclosure. The lump sum payment I will be receiving in
exchange for my small monthly payments will allow me to do so.
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 Orrstown Bank $820,000.00
Account ID: 359450
Mortgage SEDACOG $710,000.00
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.
DATED: I
Signature
ATTACHMENT/EXHIBIT "2"
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PRESENT VALUE SORE:
Single Payments
Date Amount
3/24/92 43,569.92
3/24/97 66,666.67
3/24/02 13,333.33
3/24/07 26,666.67
3/24/12 40,000.00
3/24/17 53,333.33
3/24/22 66,666.67
Present
Value
As of
Periodic Payments
Value From Through PerYr Amount COLA% Value
43,569.92 4/24/92 4/24/38 12 666.67 2.000 143,067.34
46,979.21
6,621.14
9,331.67
9,863.88
9,267.94
8,163.76
True Loan
Rate % Rate % Yield % Value
3/24/92 7.0000 7.0205 7.2508 276,864.87
3/24/92 0.0 0.0 0.0 911,973.27
NET PAYMENTS TO ROGER CHARLES
EXHIBIT B
ATTACHMENT/EXHIBIT "3"
02/26/2008 16:49 7172343650 KREVSKY AND ROSEN PC PAGE 02
, y
(((COUNSELORS KT LAW
1101 NORTH FRONT STREET
HARRISBURG, PENNSYLVANIA 17102-3324
Sanford A. Kravsky
Lawranoe J. Rosen
Joshua M. Goldberger
1"ebruaiy 26, 2008
J.G. WENTWORTH
40 MORRIS AVENUE
BRYN MAWR, PA 19010
Re: JULIE A. CHARLES
To Whom it May Concern:
Tat. (717) 234-4583
Fax (717) 234,M60
I have provided representation to Julie A. Charles on the structured settlement matter.
I have provided her with legal, tax and financial advice rop rding same.
Sincerely,
Pk
Lawrence J. Rosen
LJR:alr
ATTACHMENT/EXHIBIT "4"
AccountID: 359450
PURCHASE AGREEMENT
This is a Purchase Agreement. The date of this Agreement is . 200 . Julie Charles is the
Seller. 321 Henderson Receivables Origination LLC, a Nevada Limited LiabilityCompany, its successors
and/or assigns is the Buyer. In this Agreement, Julie Charles is referred to as "You" or "Your" and 321
Henderson Receivables Origination LLC or its nominee, is referred to as "We", "Us" or "Our".
BACKGROUND OF THIS AGREEMENT
1. You or someone on your behalf signed a Settlement Agreement (the "Release" or the
"Settlement Agreement"). in connection with the resolution of a personal injury claim.
2. The insurer funded the Payments by buying an annuity contract (the "Annuity") issued by
Pacific Life Insurance Company (the "Annuity Company").
3. A list of the Payments being sold under this Agreement is attached to this Agreement as
Exhibit "A".
4. You desire to sell and assign to Us all of Your rights to receive all or a portion of the Payments
under the Release, as described on Exhibit "A", all of the other rights You have under the Release and the
other rights as described in Section 1(a) below. We desire to purchase all of Your rights and benefits, on
the terms and under the conditions described in this Agreement.
You and We agree as follows:
1. Purchase and Sale.
a. You now sell, transfer and assign to Us all of Your rights in the "Assigned Assets" as
listed in Exhibit "A". By Our signing this Agreement, We are hereby purchasing and
accepting the sale and assignment of all of the Assigned Assets described above.
b. The Gross Purchase Price is Fifty-Seven Thousand Nine Hundred Thirty-Nine Dollars
and 451100 Cents ($57,939.45). The Net Purchase Price payable to You is $55,439.45
(the "Purchase Price"). The Net Purchase Price will be paid to You when both You and
We sign this Agreement and We have completed Our internal process.
2. Acknowledgment.
a. You will agree after Your signing of this Agreement to deliver to Us, addressed as We
may require, other notices, instructions or documents, and copies of them, as We think
are necessary or proper to cant' out this Agreement.
b. When You and We sign this Agreement, You will also deliver to Us: (1) a letter
addressed to the Annuity Company directing that all payments of the Assigned Assets
after Your death shall be sent directly to Us, and (2) a Change of Beneficiary Form
changing the beneficiary of the Assigned Assets, after Your death, to "321 Henderson
Receivables Origination LLC", as sole beneficiary [(1) and (2) above are referred to as
the Change of Beneficiary Form]. The Change of Beneficiary Form will state that the
instructions may never be revoked and that no change may be made in the instructions or
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
in the payments (including as to the payee or the manner or place of making such
payments) without Our prior written consent. You will also, when this Agreement is
signed by You and Us, deliver to Us, addressed as We may require, such other notices,
instructions or documents, and copies of them, as We think are necessary or proper to
carry out this Agreement.
c. Before You and We sign this Agreement, You will deliver to Us an acknowledgment of
Julie Charles, as primary beneficiary of the Assigned Assets, of the terms of this
Agreement. Julie Charles will agree that they are not entitled to any rights to any of the
Assigned Assets.
d. You agree to sign all other documents which We may request forever naming Us as the
only beneficiary of the Assigned Assets, including but not limited to an agreement to
provide in Your Last Will and Testament that all of Your rights to the Assigned Assets
were sold to Us (a "Testamentary Agreement").
e. You acknowledge that We advised You to obtain independent professional tax advice to
determine whether this transaction will result in any adverse federal and/or state tax
consequences.
f. You acknowledge that We advised You must obtain independent legal representation
prior to executing this Agreement and that We have advised you that We may not refer
You to any specific attorney for such purpose.
3. Your Representations and Warrant-leg. You now represent and warrant to Us that:
a. You own (and are selling and assigning to Us under this Agreement) all of the
Assigned Assets, free and clear of all claims, liens, charges, security interests,
encumbrances, and agreements of any nature (other than this Agreement), and
when You and We sign this Agreement, no one other than Us shall have any
present or future right to the Assigned Assets.
b. This Agreement and all of the other documents signed in connection with this
Agreement have been properly signed by You, and they represent Your legal,
valid and binding obligation, enforceable against You in accordance with their
terms.
c. The signing and performance of this Agreement by You and the transactions
described in this Agreement:
i. do not conflict with any other obligations of Yours;
ii. will not cause a violation under (or create any right of termination,
cancellation or acceleration or similar right under) any contract or
agreement by which You or Your assets, including the Release, are
bound or may be affected;
iii. will not create, or give any party (other than Us) the right to create, any
lien, charge, security interest or encumbrance in, to or on any of the
Assigned Assets; and
iv. will not create a present or future right in any other party to make any
claim against You or Your assets, or any of the Assigned Assets.
9
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
d. You understand the terms and provisions of this Agreement and You have been
represented by tax and accounting advisors and a lawyer in the signing of this
Agreement.
e. Neither You nor anyone else have to do anything else for (1) the proper signing
and performance by You of this Agreement and any transactions intended to be
done in this Agreement, or (2) the carrying out by Us of any of Our rights and
remedies under this Agreement. No other person has made a claim in any rights
in or to the Assigned Assets.
f. You have valid reasons for selling Your interest in the Assigned Assets rather
than obtaining a loan with the Assigned Assets as collateral, and You agree that
the transaction set forth in this Agreement is not a loan or other financing
transaction.
g. This Agreement is a valid sale, transfer and assignment to Us of the Assigned
Assets.
h. Your residence and legal address is as described in Paragraph 11 of this
Agreement. During the last years, You have lived at such address.
i. No representation or warranty of Yours in this Agreement or in any of the
documents delivered in connection with this Agreement or in any agreement
required by this Agreement, is inaccurate or contains any untrue or misleading
statement.
j. The signing by You of this Agreement will not violate any other promise or
agreement you have made with anyone else. You understand that any and all
restrictions on the assignability of the Scheduled Payments were included in the
Release and/or Annuity at Your request, for Your benefit and not for the benefit
of any other person. These restrictions, if any, were included by You as a
precautionary measure to make sure You were allowed favorable tax treatment
under the Internal Revenue Code. You understand that by entering into this
Agreement, you may be giving up this favorable tax treatment. You understand
that any income earned by You on any investment or use of the Purchase Price
may be taxable to You. You may have to pay more in taxes as a result of this
Agreement. For Our benefit and the benefit of Our assigns or successors, You
agree to WAIVE AND RELEASE all of Your rights in, to, or under, such
restrictions on assignability, if any.
k. You have not before the date of this Agreement, sold or assigned Your right to the
Assigned Assets or any part of the Assigned Assets. You do not owe any money
to Your present or former spouse for support maintenance or similar obligations,
nor do You owe any money to any of Your children or guardians of Your
children. The Assigned Assets are not subject to any community property or
similar marital rights of any person.
10
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
1. Your right to the Assigned Assets is not affected by any mortgage, pledge, lien,
charge, security interest, encumbrance, restriction or adverse claim of any
nature. You understand that any violation of any of Your representations in
this agreement will result in an act of fraud by You which could result in
You being held responsible for damages in favor of Us, with money to be
paid by You to Us.
m. You are not in violation of any obligations concerning child-care, alimony or
support.
n. You now give up forever all your rights in any agreement that says that You
cannot assign or sell Your rights in the Assigned Assets to Us. You have not
requested and You do not expect to receive from us, a Form 1099 or any other
documentation which could make the transaction described by this Agreement
taxable to You in any way. You further understand that We have not given to
You any advice about any of Your taxes in this transaction. You have relied on
Your own professional advisors concerning taxes.
o. As of the date of this Agreement, You are of legal age in the state noted as Your
address in Section 11 of this Agreement, mentally sane, and of a sound mind.
You have never been convicted of a felony or any other crime involving
dishonesty.
p. You are very familiar with Your financial affairs and condition. With that full
understanding, You certify that (1) on the date We pay You the Purchase Price
and You sell to Us the Assigned Assets, the fair value of Your assets are and
will be greater than all of Your debts; (2) You presently intend to pay all of
Your creditors when such payments are due; and (3) You have not intentionally
hidden the fact from any creditor of Yours that You have entered into this
Agreement and the other documents referred to in this Agreement.
q. You do not intend to file for bankruptcy and there are no lawsuits or other
efforts by any of Your creditors to put You into bankruptcy or to take the
Assigned Assets.
r. The Purchase Price is not Your only or most important source of income and
You do not have any mental or physical problems that would prevent You from
having a paying job.
s. You promise to us that no broker, finder, or other person other than those
persons named in the broker statement signed by you in connection with this
Agreement was involved in or important in arranging the purchase transaction in
this Agreement. No other person has a right to any fee, payment, commission,
or other compensation because of this Agreement.
t. You agree that We have not forced You to give to Us copies of any confidential
documents. You agree that We told You that We only needed to see those
documents which described the Assigned Assets so we could buy from You the
Assigned Assets. You agree that We do not intend to tell any other party about
what is included in those documents. You understand that if We do so, it will
only be for the sole purpose of buying the Assigned Assets.
11
®2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
U. You understand that it usually takes six to eight weeks to complete this process,
but that it could take longer. You understand that you have to obtain court
approval of this transfer. YOU UNDERSTAND THAT, DUE
TO OCCASIONAL DELAYS, WE WILL HOLD
BACK THE AMOUNT EQUAL TO THE NEXT
TWO MONTHLY PAYMENTS DUE TO YOU
FROM THE ANNUITY COMPANY TO INSURE
THAT WE RECEIVE ALL OF THE PAYMENTS
THAT WE PURCHASE. YOU UNDERSTAND
THAT WE MAY EITHER PAY OR HOLD BACK
FUNDS TO SATISFY ANY JUDGMENTS, TAX
LIENS OR CHILD SUPPORT AGAINST YOU OR
THE ASSIGNED ASSETS AND DEDUCT THOSE
AMOUNTS FROM THE PURCHASE PRICE. YOU
UNDERSTAND THAT WE WILL DEDUCT FROM
THE PURCHASE PRICE ANY AMOUNTS OF
PAYMENTS RECEIVED BY YOU PRIOR TO
FUNDING, IF SUCH AMOUNTS ARE NOT
COVERED BY THE HOLD BACK FUNDS.
4. You promise Us that:
a. You will not, and will not allow any other party (except Us or Our assignee,
if applicable) to take funds away from the Assigned Assets. You will not
do anything else to affect the Assigned Assets. You will not say You still
own the Assigned Assets. You will not do anything or allow anyone else
to do anything that could in any way interfere with or lessen Our rights in
the Assigned Assets.
b. You will not do anything that will, or could in the future, violate the
Release, or any of the agreements required to be executed by this
Agreement. You also agree to cooperate with Us to help Us to obtain all of
the rights that We are buying from You in this Agreement and in the
Release.
c. You will give to Us at least thirty (30) days written notice of Your intention
to move Your residence or change Your legal address from the address in
Paragraph 11 of this Agreement.
d. You will not make any change in Your instructions to the Annuity
Company regarding payments to be made to You.
12
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
e. You understand that the Annuity and the Release may say that You agree
not to sell Your rights to the Assigned Assets.
f. You agree to continue to cooperate with Us. This includes Your obligation
to immediately deliver to Us any checks, funds or other form of Payment
received after the date of this Agreement by You or anyone other than Us. If
any Payment is ever denied, delayed, or withheld from Us, as determined by
Us in our reasonable discretion, directly or indirectly on account of any act
or omission by You or any person acting for You, then You shall be in
default under this Agreement (and an Event of Default under §8 shall be
deemed to have occurred). Immediately upon such default, and without any
further notice to You, You will pay to Us the following amounts:
(i) the full, dollar value of all remaining Assigned Assets as they
become due after the date of the default;
All of the remedies specified under this section shall be cumulative with all
of the remedies for default pursuant to § 8.
g. If You learn before or after the signing of this Agreement of the threat or
actual beginning of any lawsuit or proceeding that has anything to do with
Our rights under this Agreement or the Assigned Assets, then You will
immediately notify Us of that and You will give Us copies of all notices and
other writings relating to it promptly after You receive them.
h. If You receive any notice relating to any supposedly unpaid claim affecting
the Annuity or the Assigned Assets or to any other claim against the
Annuity or the Assigned Assets, then You will promptly notify Us and will
promptly give Us copies of all notices and other writings relating to it
received by You promptly after You receive them.
5. RIGHT TO CANCELLATION YOU MAY CANCEL THIS CONTRACT
WITHOUT PENALTY OR FURTHER OBLIGATION WITHIN TWENTY-ONE DAYS FROM THE
DATE YOU RECEIVE PAYMENT FROM 321 HENDERSON. In order for the cancellation to be
effective, You must mail a notice of cancellation by registered or certified U.S. mail, postmarked within
twenty-one (21) days of receipt of the Purchase Price to Us, c/o Manager of Operations at 3993 Howard
Hughes Parkway, Suite 250, Las Vegas, NV 89169-6754. Furthermore, in order for Your notice of
cancellation to be effective, Your registered or certified U.S. mail package to us must include a bank or
certified check for the full Purchase Price that We paid You under this Purchase Agreement. Any failure to
comply with the above procedure shall be a waiver of Your right to cancel this transaction.
6. Your Further Promises. You agree that, from time to time, at Your expense, You will
promptly sign and give to Us any and all documents to help Us realize our rights and benefits under this
Agreement. This promise includes signing, filing or allowing Us to file financing or continuation
statements, or amendments or assignments of those documents. You permit Us or others acting for Us to
sign our name and/or your name and file without Your signature such financing statements, if that is
permitted in Your state of residence. When You sign this Agreement, You will also sign and deliver to Us
a "Special Irrevocable Power of Attorney" You must retain the services of an attorney and deliver an
opinion of Your attorney about the sale of Assigned Assets to Us, in a form acceptable to Us.
13
(x)2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
7. Continuation of Representations Warranties and Covenants. All of Your
representations, warranties and promises made in this Agreement will continue to be relied on by Us after
this Agreement is signed.
8. Event of Default. Your failure to comply with any term of this Agreement or Your
breach of any of Your representations in this Agreement will mean that You will be in default. We refer to
this as an "Event of Default." If there is an Event of Default, We have the right to sue You in court to make
You perform Your promises or to get money from You. Your failure to comply with any material terms of
this Agreement will be a default.
In Paragraph 4 (c) You agree to give US at least thirty (30) days written notice after Your move to
a new residence or change of Your legal address from the address in Paragraph 11 of this Agreement. If we
are purchasing from You certain lump sum payments, We will contact you at least 3 months before the
scheduled payment is due to determine if the address change We have effected with the annuity company is
in place and to determine if Your legal address has remained the same. If We cannot contact you because
You have changed Your legal address or moved Your residence and failed to notify Us, We will
consider such failure to notify Us to be an EVENT OF DEFAULT and We will exercise all of our
legal rights under this Agreement. OUR RIGHT TO PROCEED AGAINST YOU UNDER THIS
AGREEMENT SHALL BE SOLELY LIMITED TO WHEN YOU HAVE COMMITTED AN
EVENT OF DEFAULT. WE SHALL NOT HAVE THE RIGHT TO SUE YOU IF OR BECAUSE
THE ANNUITY COMPANY IS NOT ABLE TO MAKE PAYMENTS BECAUSE IT IS NOT
FINANCIALLY ABLE TO DO SO.
9. Controlling Law. This Agreement shall be governed, construed and enforced in
accordance with the internal laws of the State of your domicile without regard for the conflicts of law rules
thereof or elsewhere. (For Court Orders or Notice Transfers obtained in the following jurisdictions: AK,
AR, AL, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO,
MS, MT, NC, NE, NJ, NM, NV, OH OK, OR, RI, SC, SD, TN, TX, UT, VA, WA, WV and WY the laws
of those jurisdictions shall be applied in the event of a dispute regarding the transfer.) Your domicile is the
proper place of venue to bring any action arising out of a breach of this Agreement.
10. Rig, onsibilb for this A ement. This Agreement will hold responsible Your heirs,
executors, successors and assigns and will benefit Our representatives, successors, beneficiaries and
permitted assigns. Nothing in this Agreement is intended to give anyone other than You or Us or each of
Our successors or assigns any benefits.
11. Notices. All notices and other communications under this Agreement will be in writing
and will be made by delivery by means by which the sender obtains a receipt of delivery from the carrier
(including without limitation, certified mail return receipt requested or overnight courier services),
addressed to the party to whom a request or demand is to be made. Such demand or notice or request shall
be deemed given on the date which is one business day after the date sent by overnight mail or three days
after the date sent by certified mail.
The addresses of the parties are as follows:
If to You:
Julie Charles
125 Hill Lane
Newville, PA 17241
14
(x)2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
If to Us:
321 Henderson Receivables Origination LLC
3993 Howard Hughes Parkway
Suite 250
Las Vegas, NV 89169-6754
Attention: Manager - Operations
12. Past Actions. Anything either You or We did or said before this Agreement was signed
will not affect Your or Our rights under this Agreement in any way.
13. Expenses. Except as otherwise affirmatively set forth in this Agreement, You and We
agree that we will each pay our respective costs and expenses in connection with the carrying out of this
Agreement.
14. Headings . The section and subsection headings contained in this Agreement are for
reference purposes only and will not affect in any way the meaning or interpretation of this Agreement.
15. Counterparts. One or more originals of this Agreement may be signed with Your or Our
signature. When put together they will make one agreement and the Agreement will be considered signed
by all parties that need to sign. A facsimile signature will be considered an original.
16. Assignment. We and anyone to whom We assign this Agreement may assign Our right,
title and interest in and to this Agreement, the Annuity and the Assigned Assets without Your approval.
You and We agree that if there is an assignment by Us to someone else, We shall not be responsible to
You. You must look only to the person or company that We assign this Agreement to for any payment (for
example, of the Purchase Price) and performance of this Agreement. When asked by Us or any assignee,
You will sign and deliver any such documents as We may require to perform this transaction, as assigned.
17. Your spouse. You and Your spouse are fully aware of Your rights in the Assigned
Assets. You and Your spouse fully give up those rights. You and Your spouse understand that by selling
the Assigned Assets to Us, You and Your spouse are not receiving the same amount of money as You
would if You waited for all of the scheduled Payments of the Assigned Assets but, rather, are receiving a
discounted value in return for receipt of the Purchase Price immediately. You and Your spouse have valid
reasons for selling the Assigned Assets. You and Your spouse fully understand the terms of the Purchase
Agreement and understand that the sale of the Assigned Assets is final. You also understand that Your
spouse gives up any property right he or she may have in the Assigned Assets that Your spouse could claim
because of Your marriage.
18. Entire Agreement. This Agreement and the Exhibits and other documents You signed
make up the entire understanding and agreement between You and Us about this Agreement. This
Agreement replaces all prior agreements, whether written or oral, about this Agreement. This Agreement
may not be changed unless in a writing signed by You and Us.
19. Limitation of Liability of Buyer. You understand that Our liability to You under this
Agreement is strictly limited to the requirement to pay the Purchase Price and under no circumstances will
We be responsible for consequential damages.
20. Court A proyal. You understand that court approval is required for this transfer.
You agree that you will obtain such court approval.
15
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
21. Exhibits. Attached to this Purchase Agreement are the following Exhibits:
Exhibit "A" List of What Payments We are Buying.
Intending to be legally bound, You and We have signed this Agreement as of the date at the top of
the first page of this Agreement.
Vice President Operations
321 HENDERSON RECEIVABLES ORIGINATION LLC
By:
Sworn to and subscribed
before me this day of fly, 200
Notary
Julie les SIGN HERE
fli
Spo se
COMMONWEALTH OF PENNSYLVANIA
Notarial Seel
Wanda Mae Myers, Notary Public
MyC E)besD 1,2010
Member, Pennsylvania Association of Notaries
16
@x2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
We are hereby purchasing from You under the Annuity:
Exhibit A
A) 1 payment of $448.64 on March 24, 2008 B) 12 monthly payments of $457.61 each, beginning on April 24, 2008 and ending on
March 24, 2009 Q 12 monthly payments of $466.76 each, beginning on April 24, 2009 and ending on March 24, 2010 D) 12
monthly payments of $476.10 each, beginning on April 24, 2010 and ending on March 24, 2011 E) 12 monthly payments of
$485.62 each, beginning on April 24, 2011 and ending on March 24, 2012 F)1 payment of $20,000.00 on March 24, 2012 G) 12
monthly payments of $495.33 each, beginning on April 24, 2012 and ending on March 24, 2013 H) 12 monthly payments of
$505.24 each, beginning on April 24, 2013 and ending on March 24, 20141)12 monthly payments of $515.34 each, beginning on
April 24, 2014 and ending on March 24, 2015 J) 12 monthly payments of $525.65 each, beginning on April 24, 2015 and ending on
March 24, 2016 K) 12 monthly payments of $536.16 each, beginning on April 24, 2016 and ending on March 24, 2017 L)1
payment of $27,202.81 on March 24, 2017 M) 12 monthly payments of $546.89 each, beginning on April 24, 2017 and ending on
March 24, 2018 N) 12 monthly payments of $557.82 each, beginning on April 24, 2018 and ending on March 24, 2019 O) 11
monthly payments of $568.98 each, beginning on April 24, 2019 and ending on February 24, 2020
ILf
0 " ?' -
Julie harles
SIGN HERE
STATE OF Per?n50umn i A
COUNTY OF Pmu#hi A
On this 1!L_ day of bcuc_c -, 2007
before me, the above signed personally appaMd hefore me, personally known to
me to be the person whose name is subscribed to the within instrument and acknowledged to me thaebiexecuted it.
Notary
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Wanda Mae Myers, NOW Public
MNIe *)w Perry County
My Commission B*w Dec. 1, 2010
Member, Pennsylvania Association of Notaries
Account ID: 359450
SCHEDULE 1
DISCLOSURE STATEMENT
PLEASE BE ADVISED THAT THE PROPOSED TRANSACTION IS A
SALE, NOT A LOAN, AND THAT YOU WILL BE SELLING ALL RIGHTS
AND TITLE TO THE ASSIGNED ASSETS ONCE THIS TRANSACTION
IS CONSUMMATED. PLEASE BE ADVISED THAT YOU MAY BE
SUBJECT TO ADVERSE FEDERAL AND STATE INCOME TAX
CONSEQUENCES AS A RESULT OF THE PROPOSED TRANSACTION.
YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT, OR
FINANCIAL ADVISOR REGARDING ANY FEDERAL OR STATE
INCOME TAX CONSEQUENCES ARISING FROM THE PROPOSED
TRANSFER.
YOUR PURCHASE PRICE WAS DERIVED ASSUMING A DISCOUNT
RATE SIGNIFICANTLY HIGHER THAN THE PRIME INTEREST RATES
CHARGED BY COMMERCIAL BANKS, THEREFORE, WE URGE YOU
TO EXPLORE ALL FINANCIAL OPTIONS.
WE WILL PURCHASE FROM YOU A) 1 payment of $448.64 on March 24,
2008 B) 12 monthly payments of $457.61 each, beginning on April 24, 2008
and ending on March 24, 2009 C) 12 monthly payments of $466.76 each,
beginning on April 24, 2009 and ending on March 24, 2010 D) 12 monthly
payments of $476.10 each, beginning on April 24, 2010 and ending on March
24, 2011 E) 12 monthly payments of $485.62 each, beginning on April 24, 2011
and ending on March 24, 2012 F)1 payment of $20,000.00 on March 24, 2012
G) 12 monthly payments of $495.33 each, beginning on April 24, 2012 and
ending on March 24, 2013 H) 12 monthly payments of $505.24 each, beginning
on April 24, 2013 and ending on March 24, 20141)12 monthly payments of
$515.34 each, beginning on April 24, 2014 and ending on March 24, 2015 J) 12
monthly payments of $525.65 each, beginning on April 24, 2015 and ending on
March 24, 2016 K) 12 monthly payments of $536.16 each, beginning on April
24, 2016 and ending on March 24, 2017 L) 1 payment of $27,202.81 on March
24, 2017 M) 12 monthly payments of $546.89 each, beginning on April 24,
2017 and ending on March 24, 2018 N) 12 monthly payments of $557.82 each,
beginning on April 24, 2018 and ending on March 24,2019 0) 11 monthly
payments of $568.98 each, beginning on April 24, 2019 and ending on
February 24, 2020
[THE REMAINDER OF THIS PAGE LEFT BLANK INTENTIONALLY]
Account ID- 354450
SCHEDULE 1. PAGE 2
THE AGGREGATE AMOUNT OF THE PURCHASED PAYMENTS IS
$120,732.47.
THE DISCOUNTED PRESENT VALUE OF THE AGGREGATE
PAYMENTS AT 4.20% IS $92,757.63. THE DISCOUNTED PRESENT
VALUE IS THE CALCULATION OF THE CURRENT VALUE OF THE
TRANSFERRED STRUCTURED SETTLEMENT PAYMENTS UNDER
FEDERAL STANDARDS FOR VALUING ANNUITIES. THE GROSS
AMOUNT PAYABLE TO SELLER IS $57,939.45.
THE FOLLOWING EXPENSES ARE INCURRED BY THE SELLER
(YOU) AND WILL BE DEDUCTED FROM THE PURCHASE PRICE:
COMPLIANCE AND ADMINISTRATIVE FEE: $500:00
LEGAL FEES TO PROCURE COURT APPROVAL (THIS IS AN
ESTIMATE OF WHAT YOUR ATTORNEY WILL CHARGE YOU TO
OBTAIN COURT APPROVAL) : $500.00
FILING AND RELATED EXPENSES FEE: $1,500.00
THE NET AMOUNT PAYABLE TO THE SELLER(YOU) IS $55,439.45.
NO OTHER EXPENSES ARE INCURRED BY YOU.
THE DISCOUNTED PRESENT VALUE OF PAYMENTS SHALL BE
CALCULATED AS FOLLOWS: THE APPLICABLE FEDERAL RATE
USED IN CALCULATING THE DISCOUNTED PRESENT VALUE IS
4.20%.
THE EFFECTIVE ANNUAL DISCOUNT RATE FOR THIS
TRANSACTION IS 13.94%. THE CASH PAYMENT YOU RECEIVE IN
THIS TRANSACTION FROM US WAS DETERMINED BY APPLYING
THE SPECIFIED EFFECTIVE ANNUAL DISCOUNT RATE,
COMPOUNDED MONTHLY, TO THE TOTAL AMOUNT OF FUTURE
PAYMENTS TO BE RECEIVED BY US9 LESS THE TOTAL AMOUNT OF
COMMISSIONS, FEES, COSTS, EXPENSES AND CHARGES PAYABLE
BY YOU.
Account ID: 359450
' SCHEDULE 1. PAGE 3
THE NET AMOUNT THAT YOU WILL RECEIVE FROM US IN
EXCHANGE FOR YOUR FUTURE STRUCTURED SETTLEMENT
PAYMENTS REPRESENTS 59.80% OF THE ESTIMATED CURRENT
VALUE OF THE PAYMENTS BASED UPON THE DISCOUNTED VALUE
USING THE APPLICABLE FEDERAL RATE.
THE QUOTIENT OBTAINED BY DIVIDING THE NET PAYMENT BY
THE DISCOUNTED PRESENT VALUE IS 59.80%.
BASED ON THE NET AMOUNT THAT YOU WILL RECEIVE FROM US
AND THE AMOUNTS AND TIMING OF THE STRUCTURED-
SETTLEMENT PAYMENTS THAT YOU ARE TURNING OVER TO US9
YOU WILL, IN EFFECT, BE PAYING INTEREST TO US AT A RATE OF
13.94% PER YEAR. THE NET AMOUNT PAID TO YOU (THE PAYEE)
BY US (THE TRANSFEREE) REPRESENTS AN ESTIMATE OF THE
FAIR MARKET VALUE OF THE FUTURE PERIODIC PAYMENTS
TRANSFERRED UNDER THE STRUCTURED SETTLEMENT
AGREEMENT.
NOTICE OF CANCELLATION RIGHTS:
YOU MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO
5:00 P.M. OF THE TWENTY-FIRST DAY FOLLOWING THE LATER OF
THE EXECUTION OF THE PURCHASE AGREEMENT, OR THE DATE
THE PAYEE BECOMES OBLIGATED UNDER THE PURCHASE
AGREEMENT WITHOUT PENALTY OR FURTHER OBLIGATION.
THIS CANCELLATION RIGHT CANNOT BE WAIVED IN ANY
MANNER.
TO CANCEL, YOU MUST PROVIDE WRITTEN NOTICE TO THE
TRANSFEREE. WRITTEN NOTICE SHOULD BE MAILED OR
DELIVERED TO THE ADDRESS BELOW BY 5:00 P.M. OF
(THE TWENTY-FIRST DAY FOLLOWING THE TRANSACTION). IT IS
BEST TO MAIL IT BY CERTIFIED MAIL, RETURN RECEIPT
Account ID: 359450
SCHEDULE 1. PAGE 4
REQUESTED, AND TO KEEP A PHOTOCOPY OF THE SIGNED FORM
AND YOUR POST OFFICE RECEIPT. ADDRESS TO WHICH
CANCELLATION IS TO BE RETURNED:
321 HENDERSON RECEIVABLES ORIGINATION LLC
3993 HOWARD HUGHES PARKWAY
SUITE 250
LAS VEGAS, NV 89169-6754
ATTENTION: MANAGER -OPERATIONS
IMPORTANT NOTICE: YOU ARE STRONGLY URGED TO CONSULT
WITH AN ATTORNEY WHO CAN ADVISE YOU OF THE POTENTIAL
TAX CONSEQUENCES OF THIS TRANSACTION.
PLEASE BE ADVISED THERE ARE NO PENALTIES OR LIQUIDATED
DAMAGES PAYABLE BY YOU IN THE EVENT OF ANY BREACH OF
THE TRANSFER AGREEMENT BY YOU. THERE ARE NO BROKERS
COMMISSIONS, SERVICE CHARGES, APPLICATION FEES,
PROCESSING FEES, CLOSING COSTS, FILING FEES,
ADMINISTRATIVE FEES, LEGAL FEES, NOTARY FEES AND OTHER
COMMISSIONS, FEES, COSTS, EXPENSES AND CHARGES PAYABLE
BY YOU OR DEDUCTED FROM GROSS AMOUNT OTHERWISE
PAYABLE TO YOU OTHER THAN THE COMPLIANCE AND
ADMINISTRATIVE FEE AND THE FILING AND RELATED EXPENSES
FEE.
IF YOU BELIEVE YOU WERE TREATED UNFAIRLY OR WERE
MISLED AS TO THE NATURE OF THE OBLIGATIONS YOU ASSUMED
UPON ENTERING INTO THIS AGREEMENT, YOU SHOULD REPORT
THOSE CIRCUMSTANCES TO YOUR LOCAL DISTRICT ATTORNEY
OR THE OFFICE OF THE ATTORNEY GENERAL.
THE EFFECTIVE DATE OF THE TRANSFER AGREEMENT SHALL BE
DEEMED TO BE THE DATE THAT THE AGREEMENT WAS SIGNED
BY THE YOU (PAYEE).
PLEASE BE ADVISED THAT PAYMENT TO YOU PURSUANT TO THE
TRANSFER AGREEMENT IS CONTINGENT UPON COURT APPROVAL
OF THE TRANSFER AGREEMENT, WHICH YOU MUST OBTAIN.
Account ID: 359450
•
SCHEDULE 1, PAGE 5
PLEASE BE ADVISED THAT PAYMENT TO YOU WILL BE DELAYED
UP TO 30 DAYS OR MORE IN ORDER FOR THE COURT TO REVIEW
AND APPROVE THE TRANSFER AGREEMENT.
BY SIGNING BELOW YOU ARE CONFIRMING RECEIPT OF THIS
DISCLOSURE AT LEAST 10 DAYS PRIOR TO RECEIPT OF THIS
CONTRACT.
?]Ak _Pk4?
, AfYi CHARLES SIGN HERE
ATTACHMENT/EXHIBIT "5"
+ 321
HENDERSON RECEIVABLES ORIGINATION, LLC
February 27, 2008
Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Attn: Legal Department/Structured Settlements
Confederation Life Insurance And Annuity Company, C/o Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Attn: Legal Department/Structured Settlements
RE: Notice of Sale/Assignment of Payment Rights
Your Contract #: 26490-03169 AN
Payee: Julie Charles
SS #: 003-56-2258
Dear Insurer:
Please be advised that 321 Henderson Receivables Origination LLC and/or its successors and
assigns, have entered into a transaction with the above-referenced annuitant who is seeking to
transfer certain of his/her rights to the payments scheduled to be received under the above-
referenced annuity policy. We are currently seeking court approval pursuant to the applicable
structured settlement transfer statute. Pursuant to the statute, please note the following
information about the Purchaser:
321 Henderson Receivables Origination LLC
40 Morris Ave
Bryn Mawr PA 19010
Tax ID # 20-4728885
PLEASE NOTE: No payments under this annuity should be held until the courts have entered a
final order and we have forwarded this order to you.
Very truly yours,
321 Henderson Receivables Origination LLC
By: to
Maureen Healy, Vice P ent
3993 Howard Hughes parkway - Suite 250 - Las Vegas, NV 89169-6754
PHONE: (800) 454-9368 - FAX: (215) 567-7525 - E-MAIL: jQ_W@JGWnING C M
WEB SITE: WWW.JGWFUNDING.COM
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO: 13
Receivables Origination, LLC and
Julie Charles
INITIAL ORDER OF COURT
On this day of 2NA? at 2008, it is ordered that a hearing on this
Petition to Transfer Structured Settlement Payment Rights will be held on
3 9' , in Courtroom ? at 9, 3,0 o'clock. The payee shall bring
i come tax returns for the prior two (2) years to the hearing.
Within sever (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 shall be filed with the court prior to the hearing.
BY THE COURT:
kftNVAIAGNN3d
L I : I I NV L- 8VW 0001
AdVIONUHiOdd 34110
D:L40-GIH
IN RE: JOINT PETITION OF 321 IN THE COURT OF COMMON PLEAS OF
HENDERSON CUMBERLAND COUNTY, PENNSYLVANIA
RECEIVABLES
ORIGINATION, LLC and CIVIL ACTION - LAW
JULIE CHARLES NO. 08-1389 CIVIL
ORDER
AND NOW, this /'v - day of March, 2008, at the request of counsel, hearing in the
above-captioned matter set for April 3, 2008, is continued to Wednesday, April 23, 2008, at
11:00 a.m. in Courtroom Number 4, Cumberland County Courthouse, Carlisle, PA.
BY THE COURT,
v --'Robert Maro, Esquire
For the Petitioner
: rlm
(207 mactqr,L
311r/0a
1-Toen
FILED--C ICE
OF THE ?` ''^ETAftY
2008 MAR I I AM 10: 39
Maro & Maro, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 W. Main Street
Norristown, PA 19401
(610) 275-9600 Attorney for 321 Henderson Receivables Origination, LLC
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
IN RE: Joint Petition of 321 Henderson Receivables NO: 2008-01389
Origination, LLC and Julie Charles
CERTIFICATE OF SERVICE
I, Robert A. Maro, Esquire, hereby certify that a true and correct copy of the
Initial Order of Court was served upon the Payee, The Structured Settlement Obligor,
The Annuity Issuer, the Payee's Spouse and any person receiving child support, alimony
or alimony pendente lite.
A copy of the Notice is attacheXhereto.
Date: March 11, 2008 Maro, Esq
uire
Attorney for 321 Henderson Receivables
Origination, LLC
A
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO: -G 13 ffj
Receivables Origination, LLC and
Julie Charles
NOTICE OF HEARING ON PETITION TO TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS
To: Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Confederation Life Insurance and Annuity
Company c/o Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Julie Charles
125 Hill Lane
Newville, PA 17241
Lawrence J. Rosen, Esquire
Krevsky & Rosen, P.C.
Attorney for Julie Charles
1101 N. Front Street
Harrisburg, PA 17102-3324
You are hereby given notice that 321 Henderson Receivables Origination, LLC and
JULIE CHARLES have filed a petition to tran fer structured settlement payment rights. A
hearing in this matter has been scheduled on I , 2008 at i : a^Syclock in courtroom
no. courthouse, Cumberland County Court of Common Pleas, 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.
The Name, Address and Tax Identification number of the transferee is
Receivables Origination, LLC. 40 Morris Avenue, Bryn Maw ,.P? 19 0,
4728885 ,/ //
,?-?-/ -02
Date
BY:
Attorney for 321 Henderson
Receivables Origination, LLC.
1115 W. Main Street
Norristown, PA 19401
(610) 275-9600
(610) 275-9666(facsimile)
C= O
' rJ n7
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
Attorney for 321 Henderson Receivables Origination, LLC
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: JULIE CHARLES NO: 2008--01389
PRAECIPE TO ATTACH
To the Prothonotary:
Kindly attach this document to the Joint Petitioner's Petition for Partial Transfer
of Structured Settlement.
i
By://?
Rob A. Maro, Esquire
Attorney for 321 Henderson
Receivables Origination, LLC
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Rights
I, Julie Charles, the payee, verify that the statements below are true and correct:
Payee's name, address and age: Julie Charles / 125 Hill Lane
Newville, PA 17241/ 46.
1. Marital Status:
Never Married; Married; Separated; Divorced _,< Ir-
If married or separated, name of spouse: N/A
3. Minor Children and other dependents:
Names, ages, and places of residence: N/A
4. Income:
I am self-employed though Ebay earning $15,000.00 annually.
1 U W ll rT ?r0 C S '?a (m (Co M W UA' CAA-',--, 0- "?- _?
If presently married, spouse's monthly income and sources: N/A
5. 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:
State the amount of money and the manner in which the
money was used:
(c) Have you ever transferred payments without court approval? If so,
please explain: No
7. Reasons for transfer:
Describe in detail you(reasons for the proposed transfer, including an
explanation as to why a sale of a lesser amount of the structured settlement
amount will better serve your interests: I want to use the money from this transfer
to save my home from foreclosure. The lump sum payment I will be receiving in
exchange for my small monthly payments will allow me to do so.
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 Orrstown Bank $820,000.00
Mortgage SEDACOG
Verification
$710,000.00
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.
,A JJ 14
DATED: 3 k c ;_ (? /, 4 ?
Signature
'"
CZ)
;,ter S.1"S
MARO & MARO, P.C.
By: Robert A. Maro, Esquire
Attorney I.D. No.: 89585
1115 West Main Street
Norristown, PA 19401
(610) 275-9600
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint Petition of 321 Henderson NO: 2008-01389
Receivables Origination, LLC and
Julie Charles
CERTIFICATE OF SERVICE
I, Robert A. Maro, Esquire, hereby certify that a true and correct copy of the
Praecipe to Attach has been served upon the following entities via first class mail and/or
certified return receipt requested and/or email on March 13, 2008:
Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Confederation Life Insurance and Annuity
Company c% Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Date: March 13, 2008
Julie Charles
125 Hill Lane
Newville, PA 17241
Lawrence J. Rosen, Esquire
Krevsky & Rosen, P.C.
Attorney for Julie Charles
1101 N. Front Street
Harrisburg, PA 17102-3324
Wrt A. Maro, Esquire
Attorney for 321 Henderson Receivables
Originations, LLC.
0000?-
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Rights
I, Julie Charles, the payee, verify that the statements below are true and correct:
Payee's name, address and age: Julie Charles / 125 Hill Lane
Newville, PA 17241/ 46.
1. Marital Status:
Never Married; Married; Separated; Divorced _,< If married or separated, name of spouse: N/A
3. Minor Children and other dependents:
Names, ages, and places of residence: N/A
4. Income:
I am self-employed though Ebay earning $15,000.00 annually.
1 C w t1 Ar fro (- S E '?a f rn -'- (,y M vJ Vi c L , a.lS 6 -e?,- I aczyn
If presently married, spouse's monthly income and sources: N/A
5. 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:
State the amount of money and the manner in which the
money was used:
(c) Have you ever transferred payments without court approval? If so,
please explain: No
7. Reasons for transfer:
Describe in detail you(reasons for the proposed transfer, including an
explanation as to why a sale of a lesser amount of the structured settlement
amount will better serve your interests: I want to use the money from this transfer
to save my home from foreclosure. The lump sum payment I will be receiving in
exchange for my small monthly payments will allow me to do so.
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 Orrstown Bank $820,000.00
Mortgage SEDACOG
Verification
$710,000.00
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 unswom falsification to authorities.
DATED: 3 L-6
-? (1112 - I
Signature
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MAR' & MA O, P.C.
By: Robert A. aro, Esquire
Attorney I.D. o .: 89585
1115 West Mai Street
Norristown, P 19401
(610) 275-9600
IN THE OURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint P tition of 321 Henderson NO: 2008-01389
Receiva les Origination, LLC and
Julie C arles
Praecive to Amend
TO THE PROTHONOTARY:
Kindly end the Joint Petition for Partial Transfer of Structured Settlement
filed on March , 2008 with the attached Amended Joint Petition for Partial Transfer of
Structured Settl ment.
Respectfully Submitted:
Maro & Mato, P.C.
By:
Robeil A. Maro, Esq iru e
Attorney for 321 Henderson
Receivables Origination, LLC
1115 W. Main Street
Norristown, PA 19401
(610) 275-9600 (V)
(610)275-9666(F)
s r + ,
MARO & M R O, P.C.
By: Robert A. aro, Esquire
Attorney I.D. o .: 89585
1115 West Ma' Street
Norristown, P 19401
(610) 275-960
IN THE ?OURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint P tition of 321 Henderson NO: 2008-01389
Receiv bles Origination, LLC and
Julie C arles
AMENDED ?OINT PETITION FOR PARTIAL TRANSFER OF STRUCTURED
SETTLEMENT PURSUANT TO STRUCTURED SETTLEMENT PROTECTION
ACT, 40 P.S. 4000, ET SE
TO THE HONORABLE JUDGES OF SAID COURT:
And no comes your petitioner, 321 Henderson Receivables Origination, LLC,
by and through is attorneys, Maro & Maro, P.C., and joint petitioner, Julie Charles, and
in accordance 'th the applicable rules of Pennsylvania Civil Procedure, hereby
represents as tbllows:
1. Petit oner is 321 Henderson Receivables Originations, LLC. ("Buyer" or
Transferee"), wi an office address located at 40 Morris Avenue, Bryn Mawr,
Pennsylvania, 1 010.
2. Joint Petitioner is, Julie Charles ("Payee"), an adult individual who
resides at 125 H 11 Lane, Newville, PA 17241.
3. This J int Petition has been verified by the Transferee, 321 Henderson
Receivables Ori ination, LLC. and the Petition includes all necessary information as
prescribed by P R.C.P. 229.2(d) et al and Section 3 of the Act, 40 P.S. §4001 et seq.
4. Pursu t to PA. R.C.P. No. 229.2(d)(3) there are four (4) attachments
incorporated
5. J
as follows:
PA R.C.P. 229.2(d)(3)(i) Payee's Affidavit in Support of Petition.
Please see Attachment/Exhibit "1"; and
PA. R.C.P. 229.2(d)(3)(ii) An Initial Order of Court Scheduling
Hearing;
PA. R.C.P. 229.2(d)(3)(iii) A certification by Robert A. Maro, Esquire,
attorney for transferee, 321 Henderson Receivables Originations,
LLC.; and
PA. R.C.P. 229.2(d)(3)(iv) A Final Order of Court Granting
the Petition.
Petitioner, Julie Charles, is the beneficiary of an annuity owned by
Confederation Fife Insurance And Annuity Company c/o Pacific Life Insurance
Company and issued by Pacific Life Insurance Company. The structured settlement
provides payment to the petitioner as described on Attachment/Exhibit "2".
6. Joint (Petitioner, Julie Charles, was represented by independent counsel in this
transaction. Joi?t Petitioner, Julie Charles and her attorney have reviewed and discussed
the terms of thin transaction together and fully understating the terms therein, freely and
voluntarily exec
and the Disclos
Charles is attac
7. Joint
with 321 Hende
whose address i
purchase the folli
a.
b.
C.
the Purchase Agreement, Exhibit "A" to the Purchase Agreement
Statement. A letter of representation from the attorney for Julie
hereto, incorporated herein and marked Attachment/Exhibit 113".
Julie Charles, proposes to enter into a purchase agreement
Receivables Origination LLC., its nominees, successors, or assigns,
40 Morris Avenue, Bryn Mawr, Pennsylvania, 19010, who will
from Petitioner's structured settlement as follows:
1 payment of $448.64 on March 24, 2008; and
12 monthly payments of $457.61 each, beginning on
April 24, 2008 and ending on March 24, 2009; and
12 monthly payments of $466.76 each, beginning on
April 24, 2009 and ending on March 24, 2010; and
•i
8. The ?
And Annuity Cc
Insurance Comp
from Buyer. A
and Disclosure f
Attachment/Exl
9. The
fees, costs, expi
10. Bas,
$55,439.45 and
would be assigi
year.
12 monthly payments of $476.10 each, beginning on
April 24, 2010 and ending on March 24,2011; and
12 monthly payments of $485.62 each, beginning on
April 24, 2011 and ending on March 24, 2012; and
1 payment of $20,000.00on March 24,2012; and
12 monthly payments of $495.33 each, beginning on
April 24, 2012 and ending on March 24, 2013; and
12 monthly payments of $505.24 each, beginning on
April 24, 2013 and ending on March 24, 2014; and
12 monthly payments of $515.34 each, beginning on
April 24, 2014 and ending on March 24, 2015; and
12 monthly payments of $525.65 each, beginning on
April 24, 2015 and ending on March 24, 2016; and
12 monthly payments of $536.16 each, beginning on
April 24, 2016 and ending on March 24, 2017; and
1 payment of $26,666.67 on March 24, 2017; and
12 monthly payments of $546.89 each, beginning on
April 24, 2017 and ending on March 24, 2018; and
12 monthly payments of $557.82 each, beginning on
April 24, 2018 and ending on March 24, 2019; and
11 monthly payments of $568.98 each, beginning on
April 24, 2019 and ending on February 24, 2020.
settlement is currently owned by Confederation Life Insurance
c/o Pacific Life Insurance Company and issued by Pacific Life
and the net amount in return payable to Julie Charles is $55,439.45
of the Purchase Agreement, Exhibit "A' to the Purchase Agreement
is attached hereto, made apart hereof, and designated
664,7
amount payable to the payee after deduction of all commissions,
and charges is $55,439.45.
on the net amount that the payee will receive from this transaction
amounts and timing of the structured settlement payments that
the payee is, in effect, paying interest at a rate of 13.88% per
11. Tho Buyer furnished Julie Charles with a Disclosure Statement pursuant to 40
P.S. 4003 See ?Attachment/Exhibit "4") at least ten (10) days prior to the date on which
Julie Charles fist incurred any obligation to the Buyer.
12. PA R.C.P. 229.2(b) requires the petition to be filed in the county in which the
payee is domici ed (See also Section 4 of the Act 40 P.S. §4004). PA.R.C.P. 229.2(c)
also requires both the Transferee and Payee to be parties to the Joint Petition. Both
requirements have been fulfilled herein.
13. Wriften notice of the Transferee's Names, address and taxpayer identification
number has been given to the Annuity Issuer and Structured Settlement Obligor. A copy
of the Notice to the structured settlement obligor is attached hereto as Attachment/Exhibit
"Y'. Joint Petitioners will also serve written notice as required by 40 P.S. 4004 upon all
interested
14. ThelJoint Petitioner's best interest would be served by granting the relief
requested herein for the following reasons. Joint petitioner has no minor children and is
not married. Joint Petitioner has two (2) adult children, Catrina (Age 24) and Jacel (Age
21). Joint Petitioner also looks over and cares for her father, William E. Somero (Age
81). Ms. Charles has never transferred any amount of her structured settlement in the
past. The purpose of this partial transfer is to prevent her home from being foreclosed
upon. Joint Petitioner is only selling a portion of her structured settlement. Additionally,
Ms. Charles owns and operates a horse farm on her property which would be saved if this
partial transfer ere approved. To avoid foreclosure and protect the equity in her home,
this transfer is cl arly within the best interest of Ms. Charles.
Joint Petitioner's respectfully requests this Honorable Court to
enter the Initial Order attached to this petition which shall schedule a hearing so that
Transferee and Payee shall have the opportunity to discuss the purpose and reasons for
the transfer and after hearing thereon, respectfully request that this Honorable Court enter
a Final Order a?proving the Transfer of Structured Settlement Payments Rights as is
mentioned
Maro & Maro, P.C.
r
Respectfully, Submitted;'
By.
Robert AwMaro, 9quire
Attorney for Transferee
VERIFICATION
Receivables Q
Settlement Pai
7S., - e
therein are true
This V
relating to the u
I, Maureen Healy, Vice President of 321 Henderson
ination LLC, have read the foregoing Petition to Transfer Structured
;nt Rights between 321 Henderson Receivables Origination LLC and
`-or 1 t and hereby aver that the statements contained
correct to the best of my knowledge, information and belief.
Ettion is made subject to the penalties of 18 Pa.C.S.A. Section 4904
c)rn falsification to authorities.
Maureen Healy, VP
rI - ),?- --.o 0
Date
I, Robe A. Maro, Esquire, attorney for Transferee, 321 Henderson Receivables
Originations, L C., hereby certify to the best of my knowledge, information and belief,
formed after reasonable inquiry, that the Transfer will comply with the requirements of
the Act (40 P.S § 4000 et seq.) and will not contravene any other applicable federal or
state statute or regulation or the order of any court or administrative authority.
I, Robe A. Maro, Esquire, attorney for Transferee, 321 Henderson Receivables
Originations, L LC., hereby verify that the facts and statements set forth herein are true
and correct tot the best of my knowledge, information and belief. I understand that false
statements mad herein are subject to the penalties of 18 Pa. C.S.A. Section 4904 relit
to unsworn fals. ication of authorities. "-I
- hd- r
Date lenderson rt A. Mar d, squire
rney for Transferee, 321
Receivables Originations,
LLC.
MARO & MA O, P.C.
By: Robert A. aro, Esquire
Attorney I.D. N :).: 89585
1115 West Mai Street
Norristown, P 19401
(610) 275-960
IN THE ?OURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint P tition of 321 Henderson NO: 2008-01389
Receivables Origination, LLC and
Julie Charles
CERTIFICATE OF SERVICE
I, Robe A. Maro, Esquire, hereby certify that a true and correct copy of the
Petition for Transfer of Partial Structured Settlement has been served upon the following
entities via first class mail and/or certified return receipt requested and/or email on :
Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Confederation Life Insurance and Annuity
Company c/o Pacific Life Insurance Company
700 Newport Center Drive
Newport Beach, CA 92660-6397
Date: ( . ??- ' oc 3
By:
Julie Charles
125 Hill Lane
Newville, PA 17241
Lawrence J. Rosen, Esquire
Krevsky & Rosen, P.C.
Attorney for Julie Charles
1101 N. Front Street
Harrisburg, PA 17102-3324
Robert A. Maro, Esquire
Attorney for 321 Henderson Receivables
Originations, LLC.
ATTACHMENT/EXHIBIT "1"
I, Julie
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Rights
the payee, verify that the statements below are true and correct:
Payee's name, address and age: Julie Charles / 125 Hill Lane
Ne ille, PA 17241/ 46.
1. Marital Status:
Never Married; Married; Separated; Divorced
If married or separated, name of spouse: N/A _
3. Minor hildren and other dependents:
ames, ages, and places of residence: N/A
4. Incom :
I a self-employed though Ebay earning $15,000.00 annually.
.1- U W n 1no S ?G rn c a M W (tii ?t?t o? ci ?.?? ? ac.orq
If p esently married, spouse's monthly income and sources: N/A
5. Child support, alimony or alimony pendente lite:
Obligation to pay: Yes X No
If yes, fate the amount of the obligation, to whom payable, and whether there are
arreara es:
6. Previous transfers:
Have you previously filed a petition to transfer payment rights under the
structur d settlement that is the subject of this petition? Yes X No
If yes, f
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:
State the amount of money and the manner in which the
money was used:
(c) Have you ever transferred payments without court approval? If so,
please explain: No
7. Rea ons for transfer:
Describe in detail youCreasons for the proposed transfer, including an
explana ion as to why a sale of a lesser amount of the structured settlement
amount ill better serve your interests: I want to use the money from this transfer
to save y home from foreclosure. The lump sum payment I will be receiving in
exchang for my small monthly payments will allow me to do so.
8. Pay ent of debts:
If you s k the transfer in order to pay debts, list each debt, including the name of
the credi or and the amount presently owed:
ebt Creditor Amount Owed
ortgage Orrstown Bank $820,000.00
SEDACOG $710,000.00
Verification
I verify
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.
DATED: .3 4LS?ignature
ATTACHMENT/EXHIBIT "2"
ATTACHMENVEXHIBIT "2"
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PRESENT VALUE SCREE N
Single Payments Periodic Payments
Date Amount Value From Through PerYr Amount COLA% Value
3/24/92 43,569.92 43,569.92 4/24/92 4/24/38 12 666.67 2.000 143,067.34
3/24/97 66,666.67 46,979.21
3/24/02 13,333.33 6,621.14
3/24/07 26,666.67 9,331.67
3/24/12 40,000.00 9,863.88
3/24/17 53,333.33 9,267.94
3/24/22 66,666.67 8,163.76
Present
Value
True Loan
As of Rate % Rate % Yield % Value
3/24/ 92 7.0000 7.0205 7.2508 276,864.87
3/24/ 92 0.0 0.0 0.0 911,973.27
NET PAYMENTS TO ROGER CHARLES
EXHIBIT B
ATTACHMENVEXHIBIT 66319
02/26/2008 16:49
Sanford A. Kravsky
Lawrence J. Rosen
Joshua M. Goldberger
J.G. WENTWORT
40 MORRIS AV E
BRYN MAW R, P 19010
To Whom it May
1 have pro
I have me
72343650
KREUSKY AND ROSEN PC
j(/ wd r & e5", 9.W.
COUNSELORS AT LAW
1101 NORTH FRONT STREET
HARRISBURG. PENNSYLVANIA 17102-3324
February 26, 2008
PAGE 02
Tel. (717) 234-4583
Fax (717) 234-3650
representation to Julie A. Charles on the structured settlement matter.
her with legal, tax and financial advice regarding same.
Sincerely, Lawrence J. Rosen
LJR:alr
ATTACHMENVEXHIBIT "4"
Account ID: 359450
SCHEDULE I
DISCLOSURE STATEMENT
PLEASE BE
SALE, NOT
AND TITLE
IS CONSUM
SUBJECT 7
YOU SHOUT
FINANCIAL
INCOME T.
TRANSFER.
ADVISED THAT THE PROPOSED TRANSACTION IS A
LOAN, AND THAT YOU WILL BE SELLING ALL RIGHTS
CO THE ASSIGNED ASSETS ONCE THIS TRANSACTION
?IATED. PLEASE BE ADVISED THAT YOU MAY BE
) ADVERSE FEDERAL AND STATE INCOME TAX
CES AS A RESULT OF THE PROPOSED TRANSACTION.
D CONSULT YOUR OWN COUNSEL, ACCOUNTANT, OR
ADVISOR REGARDING ANY FEDERAL OR STATE
X CONSEQUENCES ARISING FROM THE PROPOSED
YOUR PURC ASE PRICE WAS DERIVED ASSUMING A DISCOUNT
RATE SIGNI ICANTLY HIGHER THAN THE PRIME INTEREST RATES
CHARGED B COMMERCIAL BANKS, THEREFORE, WE URGE YOU
TO EXPLO ALL FINANCIAL OPTIONS.
WE WILL PUI
2008 B) 12 mot
and ending on
beginning on A
payments of $4
24, 2011 E)121
and ending on
G) 12 monthly
ending on Mar
on April 24, 20
$515.34 each, t
monthly paymi
March 24, 2011
24, 2016 and ei
24, 2017 M) 12
2017 and endin
beginning on A
payments of $!
February 24, 2
.CHASE FROM YOU A) 1 payment of $448.64 on March 24,
;hly payments of $457.61 each, beginning on April 24, 2008
larch 24, 2009 C) 12 monthly payments of $466.76 each,
iril 24, 2009 and ending on March 24, 2010 D) 12 monthly
16.10 each, beginning on April 24, 2010 and ending on March
ionthly payments of $485.62 each, beginning on April 24, 2011
larch 24, 2012 F)1 payment of $20,000.00 on March 24, 2012
?ayments of $495.33 each, beginning on April 24, 2012 and
h 24, 2013 H) 12 monthly payments of $505.24 each, beginning
3 and ending on March 24, 2014 I)12 monthly payments of
-ginning on April 24, 2014 and ending on March 24, 2015 J) 12
nts of $525.65 each, beginning on April 24, 2015 and ending on
K) 12 monthly payments of $536.16 each, beginning on April
ding on March 24, 2017 L) 1 payment of $26,666.67 on March
monthly payments of $546.89 each, beginning on April 24,
on March 24, 2018 N) 12 monthly payments of $557.82 each,
)ril 24, 2018 and ending on March 24, 2019 0) 11 monthly
18.98 each, beginning on April 24, 2019 and ending on
20
[THE REMAE1 DER OF THIS PAGE LEFT BLANK INTENTIONALLY]
Account ID: 359450
SCHEDULE 1, PAGE 2
THE AGGREGATE AMOUNT OF THE PURCHASED PAYMENTS IS
$1209196.33.
THE DISCO N TED PRESENT VALUE OF THE AGGREGATE
PAYMENTS T 3.40% IS $92,389.62. THE DISCOUNTED PRESENT
VALUE IS TH E CALCULATION OF THE CURRENT VALUE OF THE
TRANSFE y D STRUCTURED SETTLEMENT PAYMENTS UNDER
FEDERAL 5 TI ANDARDS FOR VALUING ANNUITIES. THE GROSS
AMOUNT PA ABLE TO SELLER IS $579939.45.
THE FOLLO NG EXPENSES ARE INCURRED BY THE SELLER
(YOU) AND ILL BE DEDUCTED FROM THE PURCHASE PRICE:
COMPLIANCE AND ADMINISTRATIVE FEE: $500.00
LEGAL FEES TO PROCURE COURT APPROVAL (THIS IS AN
ESTIMATE O WHAT YOUR ATTORNEY WILL CHARGE YOU TO
OBTAIN CO RT APPROVAL) : $500.00
FILING AND RELATED EXPENSES FEE: $1,500.00
THE NET AMOUNT PAYABLE TO THE SELLER(YOU) IS $559439.45.
NO OTHER EXPENSES ARE INCURRED BY YOU.
THE DISCO
CALCULAT
USED IN CA
3.40%.
THE
THIS TRAM;
THE SPECII
COMPOUNI
PAYMENTS
COMMISSI(
BY YOU.
CED PRESENT VALUE OF PAYMENTS SHALL BE
AS FOLLOWS: THE APPLICABLE FEDERAL RATE
ULATING THE DISCOUNTED PRESENT VALUE IS
VE ANNUAL DISCOUNT RATE FOR THIS
K IS 13.88%. THE CASH PAYMENT YOU RECEIVE IN
CTION FROM US WAS DETERMINED BY APPLYING
:D EFFECTIVE ANNUAL DISCOUNT RATE,
D MONTHLY, TO THE TOTAL AMOUNT OF FUTURE
3 BE RECEIVED BY US, LESS THE TOTAL AMOUNT OF
S, FEES, COSTS, EXPENSES AND CHARGES PAYABLE
SCHEDULE 1, PAGE 3
Account ID: 359450
THE NET OUNT THAT YOU WILL RECEIVE FROM US IN
EXCHANGE OR YOUR FUTURE STRUCTURED SETTLEMENT
PAYMENTS PRESENTS 60.00% OF THE ESTIMATED CURRENT
VALUE OF T E PAYMENTS BASED UPON THE DISCOUNTED VALUE
USING THE PPLICABLE FEDERAL RATE.
THE QUOTIENT OBTAINED BY DIVIDING THE NET PAYMENT BY
THE DISCOUNTED PRESENT VALUE IS 60.00%.
BASED ON T E NET AMOUNT THAT YOU WILL RECEIVE FROM US
AND THE A OUNTS AND TIMING OF THE STRUCTURED-
SETTLEMEN PAYMENTS THAT YOU ARE TURNING OVER TO US,
YOU WILL, EFFECT, BE PAYING INTEREST TO US AT A RATE OF
13.88% PER EAR. THE NET AMOUNT PAID TO YOU (THE PAYEE)
BY US (THE RANSFEREE) REPRESENTS AN ESTIMATE OF THE
FAIR MA T VALUE OF THE FUTURE PERIODIC PAYMENTS
TRANSFE D UNDER THE STRUCTURED SETTLEMENT
AGREEMEN .
NOTICE OF CANCELLATION RIGHTS:
YOU MAY C ANCEL THIS TRANSACTION AT ANY TIME PRIOR TO
5:0011 .M. OF HE TWENTY-FIRST DAY FOLLOWING THE LATER OF
THE EXECU ION OF THE PURCHASE AGREEMENT, OR THE DATE
THE PAYEE ECOMES OBLIGATED UNDER THE PURCHASE
AGREEMEN WITHOUT PENALTY OR FURTHER OBLIGATION.
THIS CANCELLATION RIGHT CANNOT BE WAIVED IN ANY
MANNER.
TO CANCEL,
DELIVERED
(THE TWEN'
BEST TO MA
'OU MUST PROVIDE WRITTEN NOTICE TO THE
WRITTEN NOTICE SHOULD BE MAILED OR
0 THE ADDRESS BELOW BY 5:00 P.M. OF
-FIRST DAY FOLLOWING THE TRANSACTION).
IT BY CERTIFIED MAIL, RETURN RECEIPT
IT IS
Account ID: 359450
SCHEDULE 1. PAGE 4
REQUESTE AND TO KEEP A PHOTOCOPY OF THE SIGNED FORM
AND YOUR OST OFFICE RECEIPT. ADDRESS TO WHICH
CANCELLATION IS TO BE RETURNED:
3NDERSON RECEIVABLES ORIGINATION LLC
39 3 HOWARD HUGHES PARKWAY
S ITE 250
L VEGAS, NV 89169-6754
A TENTION: MANAGER - OPERATIONS
IMPORTANT NOTICE: YOU ARE STRONGLY URGED TO CONSULT
WITH AN ATTORNEY WHO CAN ADVISE YOU OF THE POTENTIAL
TAX CONSE UENCES OF THIS TRANSACTION.
PLEASE BE)
DAMAGES P.
THE TRANS]
COMMISSIO
PROCESSIN(
COMMISSIO
BY YOU OR ]
PAYABLE T(
ADMINISTRL
FEE.
IF YOU BEI
MISLED AS
UPON ENT]
THOSE CIR
OR THE OF
DVISED THERE ARE NO PENALTIES OR LIQUIDATED
,YABLE BY YOU IN THE EVENT OF ANY BREACH OF
ER AGREEMENT BY YOU. THERE ARE NO BROKERS
IS, SERVICE CHARGES, APPLICATION FEES,
FEES, CLOSING COSTS, FILING FEES,
TIVE FEES, LEGAL FEES, NOTARY FEES AND OTHER
iS, FEES, COSTS, EXPENSES AND CHARGES PAYABLE
EDUCTED FROM GROSS AMOUNT OTHERWISE
YOU OTHER THAN THE COMPLIANCE AND
TIVE FEE AND THE FILING AND RELATED EXPENSES
E YOU WERE TREATED UNFAIRLY OR WERE
THE NATURE OF THE OBLIGATIONS YOU ASSUMED
TG INTO THIS AGREEMENT, YOU SHOULD REPORT
DISTANCES TO YOUR LOCAL DISTRICT ATTORNEY
E OF THE ATTORNEY GENERAL.
THE EFFECT VE DATE OF THE TRANSFER AGREEMENT SHALL BE
DEEMED TO E THE DATE THAT THE AGREEMENT WAS SIGNED
BY THE YOU PAYEE).
PLEASE BE A
TRANSFER AI
OF THE TRAIN
SED THAT PAYMENT TO YOU PURSUANT TO THE
CEMENT IS CONTINGENT UPON COURT APPROVAL
ER AGREEMENT, WHICH YOU MUST OBTAIN.
Account ID: 359450
SCHEDULE 1. PAGE 5
PLEASE BE VISED THAT PAYMENT TO YOU WILL BE DELAYED
UP TO 30 DAY S OR MORE IN ORDER FOR THE COURT TO REVIEW
AND APPRO THE TRANSFER AGREEMENT.
BY SIGNING BELOW YOU ARE CONFIRMING RECEIPT OF THIS
DISCLOSURE AT LEAST 10 DAYS PRIOR TO RECEIPT OF THIS
CONTRACT.
SIGN HERE
Account ID: 359450
PURCHASE AGREEMENT
This is a Purcha Agreement. The date of this Agreement is , 200. Julie Charles is the
Seller. 321 Henderson Receivables Origination LLC, a Nevada Limited Liability Company, its successors
and/or assigns is the Buyer. In this Agreement, Julie Charles is referred to as "You" or "Your" and 321
Henderson Receivables Origination LLC or its nominee, is referred to as "We", "Us" or "Our".
BACKGROUND OF THIS AGREEMENT
1. Yo# or someone on your behalf signed a Settlement Agreement (the "Release" or the
"Settlement Ag ement"). in connection with the resolution of a personal injury claim.
2. The insurer funded the Payments by buying an annuity contract (the "Annuity") issued by
Pacific Life Ins ance Company (the "Annuity Company").
Exhibit 3. A lis} of the Payments being sold under this Agreement is attached to this Agreement as
4. You esire to sell and assign to Us all of Your rights to receive all or a portion of the Payments
under the Release, as described on Exhibit "A", all of the other rights You have under the Release and the
other rights as de cribed in Section 1(a) below. We desire to purchase all of Your rights and benefits, on
the terms and un er the conditions described in this Agreement.
You ands We agree as follows:
1.
a. You now sell, transfer and assign to Us all of Your rights in the "Assigned Assets" as
listed in Exhibit "A". By Our signing this Agreement, We are hereby purchasing and
accepting the sale and assignment of all of the Assigned Assets described above.
b. The Gross Purchase Price is Fifty-Seven Thousand Nine Hundred Thirty-Nine Dollars
and 45/100 Cents ($57,939.45). The Net Purchase Price payable to You is $55,439.45
(the "Purchase Price"). The Net Purchase Price will be paid to You when both You and
We sign this Agreement and We have completed Our internal process.
2.
a. You will agree after Your signing of this Agreement to deliver to Us, addressed as We
may require, other notices, instructions or documents, and copies of them, as We think
are necessary or proper to carry out this Agreement.
b. When You and We sign this Agreement, You will also deliver to Us: (1) a letter
ddressed to the Annuity Company directing that all payments of the Assigned Assets
fter Your death shall be sent directly to Us, and (2) a Change of Beneficiary Form
hanging the beneficiary of the Assigned Assets, after Your death, to "321 Henderson
eceivables Origination LLC", as sole beneficiary [(1) and (2) above are referred to as
he Change of Beneficiary Form]. The Change of Beneficiary Form will state that the
nstructions may never be revoked and that no change may be made in the instructions or
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
n the payments (including as to the payee or the manner or place of making such
?ayments) without Our prior written consent. You will also, when this Agreement is
gned by You and Us, deliver to Us, addressed as We may require, such other notices,
nstructions or documents, and copies of them, as We think are necessary or proper to
;arty out this Agreement.
c. Before You and We sign this Agreement, You will deliver to Us an acknowledgment of
Julie Charles, as primary beneficiary of the Assigned Assets, of the terms of this
Agreement. Julie Charles will agree that they are not entitled to any rights to any of the
Assigned Assets.
d. You agree to sign all other documents which We may request forever naming Us as the
my beneficiary of the Assigned Assets, including but not limited to an agreement to
rovide in Your Last Will and Testament that all of Your rights to the Assigned Assets
ere sold to Us (a "Testamentary Agreement").
e. You acknowledge that We advised You to obtain independent professional tax advice to
determine whether this transaction will result in any adverse federal and/or state tax
f. ou acknowledge that We advised You must obtain independent legal representation
rior to executing this Agreement and that We have advised you that We may not refer
ou to any specific attorney for such purpose.
3.
You now represent and warrant to Us that:
a. You own (and are selling and assigning to Us under this Agreement) all of the
Assigned Assets, free and clear of all claims, liens, charges, security interests,
encumbrances, and agreements of any nature (other than this Agreement), and
when You and We sign this Agreement, no one other than Us shall have any
present or future right to the Assigned Assets,
b. This Agreement and all of the other documents signed in connection with this
Agreement have been properly signed by You, and they represent Your legal,
valid and binding obligation, enforceable against You in accordance with their
terms.
c. The signing and performance of this Agreement by You and the transactions
described in this Agreement:
i. do not conflict with any other obligations of Yours;
ii. will not cause a violation under (or create any right of termination,
cancellation or acceleration or similar right under) any contract or
agreement by which You or Your assets, including the Release, are
bound or may be affected;
iii. will not create, or give any party (other than Us) the right to create, any
lien, charge, security interest or encumbrance in, to or on any of the
Assigned Assets; and
iv. will not create a present or future right in any other party to make any
claim against You or Your assets, or any of the Assigned Assets.
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
d. You understand the terms and provisions of this Agreement and You have been
represented by tax and accounting advisors and a lawyer in the signing of this
Agreement.
e. Neither You nor anyone else have to do anything else for (1) the proper signing
and performance by You of this Agreement and any transactions intended to be
done in this Agreement, or (2) the carrying out by Us of any of Our rights and
remedies under this Agreement. No other person has made a claim in any rights
in or to the Assigned Assets.
f. You have valid reasons for selling Your interest in the Assigned Assets rather
than obtaining a loan with the Assigned Assets as collateral, and You agree that
the transaction set forth in this Agreement is not a loan or other financing
transaction.
g. This Agreement is a valid sale, transfer and assignment to Us of the Assigned
Assets.
h. Your residence and legal address is as described in Paragraph 11 of this
Agreement. During the last years, You have lived at such address.
i. No representation or warranty of Yours in this Agreement or in any of the
documents delivered in connection with this Agreement or in any agreement
required by this Agreement, is inaccurate or contains any untrue or misleading
statement.
j. The signing by You of this Agreement will not violate any other promise or
agreement you have made with anyone else. You understand that any and all
restrictions on the assignability of the Scheduled Payments were included in the
Release and/or Annuity at Your request, for Your benefit and not for the benefit
of any other person. These restrictions, if any, were included by You as a
precautionary measure to make sure You were allowed favorable tax treatment
under the Internal Revenue Code. You understand that by entering into this
Agreement, you may be giving up this favorable tax treatment. You understand
that any income earned by You on any investment or use of the Purchase Price
may be taxable to You. You may have to pay more in taxes as a result of this
Agreement. For Our benefit and the benefit of Our assigns or successors, You
agree to WAIVE AND RELEASE all of Your rights in, to, or under, such
restrictions on assignability, if any.
k. You have not before the date of this Agreement, sold or assigned Your right to the
Assigned Assets or any part of the Assigned Assets. You do not owe any money
to Your present or former spouse for support maintenance or similar obligations,
nor do You owe any money to any of Your children or guardians of Your
children. The Assigned Assets are not subject to any community property or
similar marital rights of any person.
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
1. Your right to the Assigned Assets is not affected by any mortgage, pledge, lien,
charge, security interest, encumbrance, restriction or adverse claim of any
nature. You understand that any violation of any of Your representations in
this agreement will result in an act of fraud by You which could result in
You being held responsible for damages in favor of Us, with money to be
paid by You to Us.
m. You are not in violation of any obligations concerning child-care, alimony or
support.
n. You now give up forever all Your rights in any agreement that says that You
cannot assign or sell Your rights in the Assigned Assets to Us. You have not
requested and You do not expect to receive from Us, a Form 1099 or any other
documentation which could make the transaction described by this Agreement
taxable to You in any way. You further understand that We have not given to
You any advice about any of Your taxes in this transaction. You have relied on
Your own professional advisors concerning taxes.
o. As of the date of this Agreement, You are of legal age in the state noted as Your
address in Section 11 of this Agreement, mentally sane, and of a sound mind.
You have never been convicted of a felony or any other crime involving
dishonesty.
You are very familiar with Your financial affairs and condition. With that full
understanding, You certify that (1) on the date We pay You the Purchase Price
and You sell to Us the Assigned Assets, the fair value of Your assets are and
will be greater than all of Your debts; (2) You presently intend to pay all of
Your creditors when such payments are due; and (3) You have not intentionally
hidden the fact from any creditor of Yours that You have entered into this
Agreement and the other documents referred to in this Agreement.
q. You do not intend to file for bankruptcy and there are no lawsuits or other
efforts by any of Your creditors to put You into bankruptcy or to take the
Assigned Assets.
r. The Purchase Price is not Your only or most important source of income and
You do not have any mental or physical problems that would prevent You from
having a paying job.
s. You promise to us that no broker, finder, or other person other than those
persons named in the broker statement signed by you in connection with this
Agreement was involved in or important in arranging the purchase transaction in
this Agreement. No other person has a right to any fee, payment, commission,
or other compensation because of this Agreement.
t. You agree that We have not forced You to give to Us copies of any confidential
documents. You agree that We told You that We only needed to see those
documents which described the Assigned Assets so we could buy from You the
Assigned Assets. You agree that We do not intend to tell any other party about
what is included in those documents. You understand that if We do so, it will
only be for the sole purpose of buying the Assigned Assets.
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
U. You understand that it usually takes six to eight weeks to complete this process,
but that it could take longer. You understand that you have to obtain court
approval of this transfer. YOU UNDERSTAND THAT, DUE
TO OCCASIONAL DELAYS, WE WILL HOLD
BACK THE AMOUNT EQUAL TO THE NEXT
TWO MONTHLY PAYMENTS DUE TO YOU
FROM THE ANNUITY COMPANY TO INSURE
THAT WE RECEIVE ALL OF THE PAYMENTS
THAT WE PURCHASE. YOU UNDERSTAND
THAT WE MAY EITHER PAY OR HOLD BACK
FUNDS TO SATISFY ANY JUDGMENTS, TAX
LIENS OR CHILD SUPPORT AGAINST YOU OR
THE ASSIGNED ASSETS AND DEDUCT THOSE
AMOUNTS FROM THE PURCHASE PRICE. YOU
UNDERSTAND THAT WE WILL DEDUCT FROM
THE PURCHASE PRICE ANY AMOUNTS OF
PAYMENTS RECEIVED BY YOU PRIOR TO
FUNDING, IF SUCH AMOUNTS ARE NOT
COVERED BY THE HOLD BACK FUNDS.
4. You promise Us that:
a. You will not, and will not allow any other party (except Us or Our assignee,
if applicable) to take funds away from the Assigned Assets. You will not
do anything else to affect the Assigned Assets. You will not say You still
own the Assigned Assets. You will not do anything or allow anyone else
to do anything that could in any way interfere with or lessen Our rights in
the Assigned Assets.
b. You will not do anything that will, or could in the future, violate the
Release, or any of the agreements required to be executed by this
Agreement. You also agree to cooperate with Us to help Us to obtain all of
the rights that We are buying from You in this Agreement and in the
Release.
c. You will give to Us at least thirty (30) days written notice of Your intention
to move Your residence or change Your legal address from the address in
Paragraph 11 of this Agreement.
d. You will not make any change in Your instructions to the Annuity
Company regarding payments to be made to You.
10
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
e. You understand that the Annuity and the Release may say that You agree
not to sell Your rights to the Assigned Assets.
f. You agree to continue to cooperate with Us. This includes Your obligation
to immediately deliver to Us any checks, funds or other form of Payment
received after the date of this Agreement by You or anyone other than Us. If
any Payment is ever denied, delayed, or withheld from Us, as determined by
Us in our reasonable discretion, directly or indirectly on account of any act
or omission by You or any person acting for You, then You shall be in
default under this Agreement (and an Event of Default under §8 shall be
deemed to have occurred). Immediately upon such default, and without any
further notice to You, You will pay to Us the following amounts:
(i) the full, dollar value of all remaining Assigned Assets as they
become due after the date of the default;
All of the remedies specified under this section shall be cumulative with all
of the remedies for default pursuant to § 8.
g. If You learn before or after the signing of this Agreement of the threat or
actual beginning of any lawsuit or proceeding that has anything to do with
Our rights under this Agreement or the Assigned Assets, then You will
immediately notify Us of that and You will give Us copies of all notices and
other writings relating to it promptly after You receive them.
h. If You receive any notice relating to any supposedly unpaid claim affecting
the Annuity or the Assigned Assets or to any other claim against the
Annuity or the Assigned Assets, then You will promptly notify Us and will
promptly give Us copies of all notices and other writings relating to it
received by You promptly after You receive them.
5. GHT TO CANCELLATION. YOU MAY CANCEL THIS CONTRACT
WITHOUT PEN TY OR FURTHER OBLIGATION WITHIN TWENTY-ONE DAYS FROM THE
DATE YOU RE EIVE PAYMENT FROM 321 HENDERSON. In order for the cancellation to be
effective, You m st mail a notice of cancellation by registered or certified U.S. mail, postmarked within
twenty-one (21) d ys of receipt of the Purchase Price to Us, c/o Manager of Operations at 3993 Howard
Hughes Parkway, Suite 250, Las Vegas, NV 89169-6754. Furthermore, in order for Your notice of
cancellation to be effective, Your registered or certified U.S. mail package to us must include a bank or
certified check for the full Purchase Price that We paid You under this Purchase Agreement. Any failure to
comply with the a ove procedure shall be a waiver of Your right to cancel this transaction.
6. 1
promptly sign and
Agreement. This
statements, or ame
sign our name an,
permitted in Your
a "Special Irrevoc
opinion of Your at
'our Further Promises. You agree that, from time to time, at Your expense, You will
give to Us any and all documents to help Us realize our rights and benefits under this
promise includes signing, filing or allowing Us to file financing or continuation
ldments or assignments of those documents. You permit Us or others acting for Us to
Vor your name and file without Your signature such financing statements, if that is
;late of residence. When You sign this Agreement, You will also sign and deliver to Us
ible Power of Attorney" You must retain the services of an attorney and deliver an
orney about the sale of Assigned Assets to Us, in a form acceptable to Us.
11
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
7. Continuation of Representations. Warranties and Covenants. All of Your
representations, arranties and promises made in this Agreement will continue to be relied on by Us after
this Agreement i signed.
8. Event of Default. Your failure to comply with any term of this Agreement or Your
breach of any of our representations in this Agreement will mean that You will be in default. We refer to
this as an "Event of Default." If there is an Event of Default, We have the right to sue You in court to make
You perform Yo promises or to get money from You. Your failure to comply with any material terms of
this Agreement 11 be a default.
In Para aph 4 (c) You agree to give US at least thirty (30) days written notice after Your move to
a new residence r change of Your legal address from the address in Paragraph 11 of this Agreement. If we
are purchasing fr in You certain lump sum payments, We will contact you at least 3 months before the
scheduled payme t is due to determine if the address change We have effected with the annuity company is
in place and to d termine if Your legal address has remained the same. If We cannot contact you because
You have Chang d Your legal address or moved Your residence and failed to notify Us, We will
consider such fa lure to notify Us to be an EVENT OF DEFAULT and We will exercise all of our
legal rights and r this Agreement. OUR RIGHT TO PROCEED AGAINST YOU UNDER THIS
AGREEMENT HALL BE SOLELY LIMITED TO WHEN YOU HAVE COMMITTED AN
EVENT OF DE AULT. WE SHALL NOT HAVE THE RIGHT TO SUE YOU IF OR BECAUSE
THE ANNUITY COMPANY IS NOT ABLE TO MAKE PAYMENTS BECAUSE IT IS NOT
FINANCIALLY ABLE TO DO SO.
9. Controllin Law. This Agreement shall be governed, construed and enforced in
accordance with a internal laws of the State of your domicile without regard for the conflicts of law rules
thereof or elsew re. (For Court Orders or Notice Transfers obtained in the following jurisdictions: AK,
AR, AL, AZ, C CO, CT, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO,
MS, MT, NC, N , NJ, NM, NV, OH OK, OR, RI, SC, SD, TN, TX, UT, VA, WA, WV and WY the laws
of those jurisdicti ns shall be applied in the event of a dispute regarding the transfer.) Your domicile is the
proper place of v ue to bring any action arising out of a breach of this Agreement.
to. Responsibility for this A reement. This Agreement will hold responsible Your heirs,
executors, succe ors and assigns and will benefit Our representatives, successors, beneficiaries and
permitted assigns Nothing in this Agreement is intended to give anyone other than You or Us or each of
Our successors or assigns any benefits.
it. otices. All notices and other communications under this Agreement will be in writing
and will be made by delivery by means by which the sender obtains a receipt of delivery from the carrier
(including witho t limitation, certified mail return receipt requested or overnight courier services),
addressed to the p to whom a request or demand is to be made. Such demand or notice or request shall
be deemed given n the date which is one business day after the date sent by overnight mail or three days
after the date sent y certified mail.
The addresses of the parties are as follows:
to You:
ulie Charles
25 Hill Lane
lewville. PA 17241
12
@2007 321 Henderson Receivables Limited Partnership
Account ID: 359450
if to U
321 Henderson Receivables Origination LLC
3993 Howard Hughes Parkway
Suite 250
Las Vegas, NV 89169-6754
Attention: Manager - Operations
12. Past Actions. Anything either You or We did or said before this Agreement was signed
will not affect Y ur or Our rights under this Agreement in any way.
13. Expenses. Except as otherwise affirmatively set forth in this Agreement, You and We
agree that we wi 1 each pay our respective costs and expenses in connection with the carrying out of this
Agreement.
14. Headines. The section and subsection headings contained in this Agreement are for
reference purpos s only and will not affect in any way the meaning or interpretation of this Agreement.
15. Counterparts. One or more originals of this Agreement may be signed with Your or Our
signature. When ut together they will make one agreement and the Agreement will be considered signed
by all parties that need to sign. A facsimile signature will be considered an original.
16. Assianment. We and anyone to whom We assign this Agreement may assign Our right,
title and interest in and to this Agreement, the Annuity and the Assigned Assets without Your approval.
You and We agr that if there is an assignment by Us to someone else, We shall not be responsible to
You. You must I ok only to the person or company that We assign this Agreement to for any payment (for
example, of the rchase Price) and performance of this Agreement. When asked by Us or any assignee,
You will sign an deliver any such documents as We may require to perform this transaction, as assigned.
17.
Assets. You and
the Assigned As;
would if You wa
discounted value
reasons for sellin
Agreement and t
spouse gives up e
because of Your i
18.
make up the
Agreement rc
may not be cl
19.
Agreement is
We be resnor
20.
You agree that
our spouse. You and Your spouse are fully aware of Your rights in the Assigned
our spouse fully give up those rights. You and Your spouse understand that by selling
rs to Us, You and Your spouse are not receiving the same amount of money as You
4 for all of the scheduled Payments of the Assigned Assets but, rather, are receiving a
return for receipt of the Purchase Price immediately. You and Your spouse have valid
the Assigned Assets. You and Your spouse fully understand the terms of the Purchase
ierstand that the sale of the Assigned Assets is final. You also understand that Your
i property right he or she may have in the Assigned Assets that Your spouse could claim
itire Agreement. This Agreement and the Exhibits and other documents You signed
understanding and agreement between You and Us about this Agreement. This
all prior agreements, whether written or oral, about this Agreement. This Agreement
unless in a writing signed by You and Us.
Imitation of Liability of Buyer. You understand that Our liability to You under this
ly limited to the requirement to pay the Purchase Price and under no circumstances will
for consequential damages.
;ourt Approval. You understand that court approval is required for this transfer.
will obtain such court approval.
13
@2007 321 Henderson Receivables Limited Partnership
•
Account ID: 359450
21
Exhibits. Attached to this Purchase Agreement are the following Exhibits:
Exhibit "A" List of What Payments We are Buying.
Intending to be legally bound, You and We have signed this Agreement as of the date at the top of
the first page of Ois Agreement.
321 HENDERSON RECEIVABLES ORIGINATION LLC
45X; e,e?
By:
Vice President
J ie Char es SIGN HERE
Spouse
Sworn to and st
before me this
Notary
day of , 200
14
@2007 321 Henderson Receivables Limited Partnership
We are hereby purchasing
A) 1 payment of $448.64 on
March 24, 2009 C) 12 month
monthly payments of $476.1
$485.62 each, beginning on ,
monthly payments of $495.3
$505.24 each, beginning on,
April 24, 2014 and ending of
March 24, 2016 K) 12 mond
payment of $26,666.67 on N
March 24, 2018 N) 12 montl
monthly payments of $568.9
Exhibit A
You under the Annuity:
Account ID: 359450
March 24, 2008 B) 12 monthly payments of $457.61 each, beginning on April 24, 2008 and ending on
ty payments of $466.76 each, beginning on April 24, 2009 and ending on March 24, 2010 D) 12
) each, beginning on April 24, 2010 and ending on March 24, 2011 E) 12 monthly payments of
April 24, 2011 and ending on March 24, 2012 F) 1 payment of $20,000.00 on March 24, 2012 G) 12
3 each, beginning on April 24, 2012 and ending on March 24, 2013 H) 12 monthly payments of
April 24, 2013 and ending on March 24, 2014 I) 12 monthly payments of $515.34 each, beginning on
March 24, 2015 J) 12 monthly payments of $525.65 each, beginning on April 24, 2015 and ending on
ly payments of $536.16 each, beginning on April 24, 2016 and ending on March 24, 2017 L) 1
arch 24, 2017 M) 12 monthly payments of $546.89 each, beginning on April 24, 2017 and ending on
y payments of $557.82 each, beginning on April 24, 2018 and ending on March 24, 2019 O) 11
each, beginning on April 24, 2019 and ending on February 24, 2020
SIGN HERE
STATE OF
COUNTY OF
On this day of
me to be the person whose
,200 -, before me, the above, signed personally appeared before me, personally known to
me is subscribed to the within instrument and acknowledged to me that he executed it.
Notary
,.
ATTACHMENT/EXHIBIT "5"
-V h
I 321
HENDID,RSON RECEIVABLES ORIGINATION, LLC
February 27,
Pacific Life Insura ce Company
700 Newport Cent_ Drive
Newport Beach, C 92660-6397
Attn: Legal Dep ment/Structured Settlements
Confederation Life Insurance And Annuity Company, C/o Pacific Life Insurance Company
700 Newport Cent( Drive
Newport Beach, C 92660-6397
Attn: Legal Depa ment/Structured Settlements
RE: Notice of ale/Assignment of Payment Rights
Your Con act #: 26490-03169 AN
Payee: Jul a Charles
SS #: 003- 6-2258
Dear Insurer:
321 Henderson Receivables Origination LLC
40 Morris Ave
Bryn Mawr PA 19010
Tax ID # 20-4728885
PLEASE NOTE: o payments under this annuity should be held until the courts have entered a
final order and we ave forwarded this order to you.
Please be advised that 321 Henderson Receivables Origination LLC and/or its successors and
assigns, have ente ed into a transaction with the above-referenced annuitant who is seeking to
transfer certain of is /her rights to the payments scheduled to be received under the above-
referenced annui policy. We are currently seeking court approval pursuant to the applicable
structured settlem nt transfer statute. Pursuant to the statute, please note the following
information about he Purchaser:
Very truly yours,
321 Henderson Receivables Origination LLC
By:
Maureen Mealy, Vice
3993 Howard Hughes parkway • Suite 250 • Las Vegas, NV 89169-6754
PHONE: (800 454-9368 - FAX: (215) 567-7525 - E-MAIL: JGW &jQWFUNDING COM
WEB SITE: WWW.IGWFUNDING.COM
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IN THE ?OURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
RE: Joint P tition of 321 Henderson NO: 2008-01389
Receiv bles Origination, LLC and
Julie C arles
FINAL ORDER OF COURT
On this 2 3' Day of ^r1 _, 2008, it is ordered that the Petition to
Transfer of St ctured Settlement Payment Rights is granted.
The court specifically finds that:
(1) the ayee has established that the transfer is in the best interests of the payee
or th payee's dependents;
(2) base on the certification by an attorney for the transferee, and the court
havi g not been made aware of any statute, regulation or order that would be
inco patible with the proposed transfer, the transfer will not contravene any
appli able federal or state statue or regulation, or the order of any court or
admi istrative authority;
(3) the transfer complies with the remaining requirements of the Structured
Sett* ment Protection Act, including Sections 3(a)(2), 3(a)(4), 3(a)(5) and
3(a)(0);
(4) the p#yments that are to be transferred are designated as
b.
C.
d.
e.
f.
9.
h.
i.
1 payment of $448.64 on March 24, 2008; and
12 monthly payments of $457.61 each, beginning on
April 24, 2008 and ending on March 24, 2009; and
12 monthly payments of $466.76 each, beginning on
April 24, 2009 and ending on March 24, 2010; and
12 monthly payments of $476.10 each, beginning on
April 24, 2010 and ending on March 24, 2011; and
12 monthly payments of $485.62 each, beginning on
April 24, 2011 and ending on March 24, 2012; and
1 payment of $20,000.00on March 24, 2012; and
12 monthly payments of $495.33 each, beginning on
April 24, 2012 and ending on March 24, 2013; and
12 monthly payments of $505.24 each, beginning on
April 24, 2013 and ending on March 24, 2014; and
12 monthly payments of $515.34 each, beginning on
April 24, 2014 and ending on March 24, 2015; and
M
12 monthly payments of $525.65 each, beginning on
April 24, 2015 and ending on March 24, 2016; and
12 monthly payments of $536.16 each, beginning on
April 24, 2016 and ending on March 24, 2017; and
1 payment of $26,666.67 on March 24, 2017; and
12 monthly payments of $546.89 each, beginning on
April 24, 2017 and ending on March 24, 2018; and
12 monthly payments of $557.82 each, beginning on
April 24, 2018 and ending on March 24, 2019; and
11 monthly payments of $568.98 each, beginning on
April 24, 2019 and ending on February 24, 2020.
(5) the t rms of this order shall survive the death of the payee and shall be
bind ng on the payee's heirs, beneficiaries and assigns;
(6) the
fees,
ayee shall receive from the transferee, as of Z3 JO-J, the amount of
439.45, from which no funds are owed for counsel fees, administrative
or other costs, fees or expenses.
BY THE COURT:
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