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HomeMy WebLinkAbout03-26-10 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PA. ORPHANS' COURT DIVISION FILE NO. 21-08-1261 FIRST AND FINAL ACCOUNT OF F&M TRUST COMPANY, DELORES M. SMITHERS, LISA S. CAMPBELL, CO-EXECUTORS OF THE ESTATE OF DEAN SMITHERS, DECEASED Social Security No.: Date of Death: Date of Incapacity, if any: Date of Co-Executors' Appointment: Date of First Complete Advertisement: Accounting for the period: 211-18-2919 11 / 12/2008 None O 1 / 16/2009 1/30/2009 -to- 2/13/2009 11/12/2008 -to- 03/15/2010 Purpose of Account: The Co-Executors offer this Account to acquaint interested parties with the transactions that have occurred during the Administration. It is important that the Account be carefully examined. Requests for additional information, questions or objections can be discussed with: GATES, HALBRUNER, HATCH & GUISE, P.C. Lowell R. Gates, Esquire 1013 Mumma Road, Suite 100 Lemoyne, PA 17043 Tel : (717) 731-9600 Supreme Court I.D. No. 46779 ~., c~ ~o ~~''~7 = . - , ! , ._, . i .Z ~ .-~ ~ r'~. ~~ r f ~.~.:' ~~ ^~ ',~i;~.. •- r' ~ 1 "~ cx~ _.A I ~t~' . :4' ,`- `y m, _ .' 7 r ' ~ .. i """.~ ..~ 1 T~ e„' -' ~^~ ~. ; SUMMARY OF ACCOUNT PRINCIPAL Receipts PAGES 3 0.00 Less Disbursements: General Disbursements Principal Balance on hand INCOME Receipts Less Disbursements Distributions to Beneficiaries Income Balance on hand Combined Principal & Income on hand Statement of Claim Against the Estate Interested Parties Proposed Distribution Verification 3 0.00 0$ .00 4 0.00 0.00 0.00 0.00 0.00 5 0.00 6 7 8 9 2 PRINCIPAL RECEIPTS Bank Accounts: *Total Principal Receipts $ 0.00 *The Estate of Dean Smithers did not come into possession of any probatable assets. All bank accounts on which Dean Smithers held an interest prior to his death were jointly held with his surviving spouse. Delores Smithers. DISBURSEMENTS OF PRINCIPAL *None $ 0.00 *Administration expenses of the Estate of Dean Smithers were paid from The Margaret J. Smithers Bypass Trust dated 12/14/1998. 3 RECONCILIATION Principal Received $ 0.00 Gains on Principal 0.00 0.00 Disbursements of Principal 0.00 Balance of Principal On Hand $ 0.00 Income Received $ 0.00 0.00 Disbursements of Income 0.00 Balance of Income on Hand $ 0.00 STATEMENT OF CLAIM AGAINST THE ESTATE KEY BANK USA, N.A. Attn: Daryl B. Leake, Senior Vice President 127 Public Square Cleveland, OH 44114-1306 KEY BANK USA, N.A. Key Alternative Loans c/o Great Lakes P.O. Box 182736 Columbus, OH 43218-2736 KEY BANK USA, N.A. c/o Weltman, Weinberg & Reis Co. L.P.A. Attn: Gladys Imburgia 323 W. Lakeside Avenue Cleveland, OH 44113-1009 Account No. xxxxxxxxx5408/Educational Loan account unsecured in the amount of filed under section 3532(b)(2) of the Probate, Estates and Fiduciaries Code. (Attached as Exhibit A) $129,971.44 6 STATEMENT OF INTERESTED PARTIES Delores M. Smithers, Surviving Spouse 5 Alliance Drive, Apt 302 Carlisle, PA 17013 F&M Trust Company, Trustee under Article FOURTH(C) of the Last Will and Testament of Dean Smithers 3907 Market Street Camp Hill, PA 17011 Susquehanna Bank, Trustee of The Lisa S. Campbell Trust under agreement dated 10/24/2001 2951 Whiteford Road, Suite 101 York, PA 17402-7624 Susquehanna Bank, Trustee of The Sandra K. Terry Trust under agreement dated 10/24/2001 2951 Whiteford Road, Suite 101 York, PA 17402-7624 Lisa S. Campbell, Daughter 20 Shippensburg Road East Berlin, PA 17316-9123 Sandra K. Terry, Daughter 608 W. Rawhide Avenue Gilbert, AZ 85233 KEY BANK USA, N.A., Creditor Attn: Daryl B. Leake, Senior Vice President 127 Public Square Cleveland, OH 44114-1306 KEY BANK USA, N.A., Creditor Key Alternative Loans c/o Great Lakes P.O. Box 182736 Columbus, OH 43218-2736 KEYBANK NATIONAL ASSOCIATION KEY BANK USA, N.A. c/o Weltman, Weinberg & Reis Co. L.P.A. Attn: Gladys Imburgia 323 W. Lakeside Avenue Cleveland, OH 44113-1009 7 CURRENT PROPOSED DISTRIBUTION Assets available for distribution $ 0.00 VERIFICATION SUSAN A. RUSSELL, Vice President and Investment & Trust Services Relationship Manager of F&M Trust Company, with offices at 3907 Market Street, Camp Hill, Pennsylvania 17011, DELORES M. SMITHERS and LISA S. CAMPBELL, Co-Executors of the Estate of Dean Smithers, hereby declare under oath that said Co-Executors have fully and faithfully discharged the duties of their offices; that the foregoing First and Final Account is true and correct and fully discloses all significant transactions occurring during the accounting period; that all known claims against the Estate have been fully disclosed; that upon information and belief there are no other claims now outstanding against the Estate; and that all taxes presently due from the Estate have been paid. This verification is made subject to the penalties of 18 Pa. C.S.A. Section 4904 relating to unsworn falsification to authorities. F&M TRUST COMPANY, Co-Executor 0 Dated: March ~ , 2010 By• .~--~--.YZ--~ ~ Susan A. Russell, Vice President Dated: March ~-~', 2010 ~ . Delores M. Smithers, Co-Executrix c Dated: Marcl~~ , 2010 - G--- Lisa S. Campbe o- xecutrix 9 DECEDENT'S ESTATE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION ` c ~ -w--- --~-~ .... ESTATE OF DEAN SMITHERS ,DECEASED ~ :: `~' -~" ` -- -~ - _. 21-08-1261 No ~ ;; ~ ~= ~~ . `~ r .. . ~~ PETITION FOR ADJUDICATION / STATEMENT OF PROPOSED DISTRIBUTION PURSUANT TO Pa. O.C. Rule 6.9 This form may be used in all cases involving the Audit of the Account of a Decedent's Estate. If space is insuff cient, riders may be attached. Attach the spouse 's election, if any; the papers required under items 8-19 inclusive; and any instrument pertinent to the adjudication. INCL UDE ATTACHMENTS AT THE BACK OF THIS FORM. Name of Counsel: LOWELL R. GATES, ESQUIRE Supreme Court I.D. No.: 46779 Name of Law Firm: GATES, HALBRUNER, HATCH & GUISE, P.C. Address: 1013 MUMMA ROAD, SUITE 100, LEMOYNE, PA 17043 Telephone: 717-731-9600 Fax: 717-731-9627 Form OC-01 rev. 10.13.06 Page 1 of 10 Estate of DEAN SMITHERS ,Deceased 1. Names} and address(es) of Petitioner(s): Name: Susan A. Russell, Vice Presiden Address: 3907 Market Street Camp Hill, PA 17011 Delores M. Smithers Lisa S. Campbell S Alliance Drive, Apt. 202. 20 Shippensburg Rd Carlisle, PA 17013 E. Berlin, PA 17316 Identify any executors or administrators who have not joined in the Petition for Adjudication and Statement of Proposed Distribution and state reason: None Is this the first accounting by this fiduciary? .....................Q Yes ~ No If not, identify prior accountings, the accounting periods covered, and the date of adjudication of the prior accounting. 2. Decedent died on November 12, 2008 Q Letters Testamentary or Q Letters of Administration were granted to Petitioner(s) on January 16.2009 Date of Will (if applicable): March 1 1, 2005 Date(s) of Codicil(s) (f applicuble): None Date of probate (if different from date Letters granted) Was a bond required? Yes !/0 No If yes, state amount: Are proofs of advertising of the grant of Letters attached? ......... ~ Yes ~ No Dates of advertising of the grant of Letters: 1/30/2009, 2/06/2009 & 2/13/2009. Also: 2/04/2009, 2/11/2009 ~ 2/18/ 2009 Form OC-01 rev. 10.13.06 Page 2 of 10 Estate of DEAN SMITHERS ,Deceased 3. Was decedent survived by a spouse? ............................. ©/ Yes ~ No If yes, name of the surviving spouse: Delores M. Smithers 4. Has the surviving spouse filed to take an elective share? ............. DYes /~ No (See Section 2201 et sic. of the Probate, Estates and Fiduciaries Code) If yes, date of election: 5. In the case of an intestacy, state the names of the decedent's surviving children or surviving issue of deceased children (if none, so state): None 6. Did decedent marry after execution of Will or Codicil(s)? ........... ^ Yes ~ No Were any children born to decedent after execution of Will or Codicil(s)? ........................................... ^ Yes /Q No If yes, give names and dates of birth: Name: None Date of Birth: 7. If required by the Medical Assistance Estate Recovery Act, 62 P.S. § 1412, was a request for a statement of claim sent to the Department of Public Welfare? .............................. Yes ^ No Form OC-Ol rev. 10.13.06 Page 3 of 10 Estate of DEAN SMITHERS Deceased 8. Written notice of the Audit as required by Pa. O.C. Rules 6.3, 6.7 and 6.8 has been or will be given to all parties in interest listed in item 9 below, all unpaid creditors and all claimants listed in item 10 below. In addition, notice of any questions requiring Adjudication as discussed in item 14 below has been or will be given to all persons affected thereby. A. If Notice has been given, attach a copy of the Notice as well as a list of the names and addresses of the parties receiving such Notice. B. If Notice is yet to be given, a copy of the Notice as well as a list of the names and addresses of the parties receiving such Notice shall be submitted at the Audit together with a statement executed by a Petitioner or counsel certifying that such notice has been given. C. If any person entitled to Notice is not sui juris (e.g., minors or incapacitated persons}, Notice of the Audit has been or will be given to the appropriate representative on such party's behalf as required by Pa. O.C. Rule 5.2. D. If any. charitable interest is involved, Notice of the Audit has been or will also be given to the Attorney General as required under Pa. O.C. Rule 5.5. In addition, the Attorney General's clearance certificate (or proof of service of Notice and a copy of such Notice} must be submitted herewith or at the Audit. 9. List all parties (charitable and non-charitable} of whom Petitioner(s) has/have notice or knowledge, having or claiming any interest in the estate as beneficiaries under the Will or Codicil(s) or as intestate heirs if there is a complete or partial intestacy: A. State each party's relationship to the decedent and the nature of each party's interest(s): Name and Address of Each Party in Interest ~ Relationship and Comments, i any ~ Interest Delores M. Smithers Surviving Spouse Beneficiary under 5 Alliance Drive, Apt. 302 Article THIRD; and Carlisle, PA 17013 Article FOURTH (B) & (C) of the LW&T Lisa S. Campbell Daughter Beneficiary under 20 Shippensburg Road Article THIRD; and East Berlin, PA 17316-9123 Article FOURTH (D) Form OC-01 rev. 10.13.06 Page 4 of 10 Estate of DEAN SMITHERS ,Deceased Name and Address of Each Party in Interest and Interest Sandra K. Terry 608 W. Rawhide Avenue Gilbert, AZ 85233 Daughter Beneficiary under Article THIRD and Article FOURTH (D) B. Identify each party who is not sui juris (e.g., minors or incapacitated persons). For each such party, give date of birth, the name of each Guardian and how each Guardian was appointed. If no Guardian has been appointed, identify the next of kin of such party, giving the name, address and relationship of each. None C. State why a Petition for Guardian/Trustee Ad Litem has or has not been filed for this Audit (see Pa. O.C. Rule 12.4). No Petition for Guardian/Trustee Ad Litem has been filed for this Audit because there are no interested parties in this proceeding who are minors, incompetents, absentees, presumed decedents or unborn or unascertained persons. D. If distribution is to be made to the personal representative of a deceased party, state date of death, date and place of grant of Letters and type of Letters granted. N/A Form OC-O1 rev. 10.13.06 Page 5 of 10 Estate of DEAN SMITHERS ,Deceased 10. Other than the claim for the family exemption, list the names of all known claimants and the amount of their claims and state whether each claim is admitted. Name and Address of Each Claimant Amount of Claim Claim Will Claim Admitted? Be Paid In Full? KEY BANK USA, N.A. DYes Q Yes Att: Daryl B. Leake,Sr.VP ~No ~ No 127 Public Square Cleveland, OH 44114-1306 DYes Q Yes KEY BANK USA, N.A. ©/ No ~ No Key Alternative Loans c/o Great Lakes, P.O. Box 182736 Columbus, OH 43218-2736 KEYBANK NATIONAL ASSOCIATION DYes ~ Yes KEY BANK USA , N . A . /®NO Q No c/o Weltman, Weinberg & Reis Co . L.P.A. Attn: Gladys Imburgia 323 W. Lakeside Avenue Account ~~xxxxxxx5408 Educationa ^yes ^Yes Loan account unsecured in QNo x No the amount of: $129,371.44 Filed under Section 3532(b)(2) of the Probate, Estates and Fiduciaries Code. Attached as Exhibit A) If the estate is insolvent, attach a schedule setting forth the order of preference under 20 Pa.C.S. § 3392 and the proposed payments. 11. Was family exemption claimed? ................................ /®Yes ONo Was family exemption allowed? ................................ Yes ~No Family exemption claimant's name and relationship: Name: Delores M. Smithers Relationship: SUrVIVIng SpOUSe Form OC-01 rev. 10.13.06 Page 6 Of 10 Estate of DEAN SMITHERS ,Deceased 12. The amount of Pennsylvania Transfer Inheritance Tax and additional Pennsylvania Estate Tax paid, the date(s) of payment(s), and the interest(s) upon which paid, are as follows: Date Payment Interest 8/12/2009 0.00 0.00 13. On the date of death, was the decedent a fiduciary (personal representative, trustee, guardian, agent under power of attorney) or surety on the bond of a fiduciary? ................... ~ Yes /© No If yes, provide the name of the estate, indicate whether an account has been filed and confirmed absolutely and all awards performed, or, in the alternative, how the decedent's estate will be discharged for the decedent's fiduciary administration of the estate. 14. A. Describe in detail any questions requiring adjudication and state the position of the Petitioner(s) as to each question: Claim has been made against the estate by KEY BANK USA; N.A. and/or KEYBANK NATIONAL ASSOCIATION for repayment of a Note which is disputed and for which there are no funds to pay. B. Has notice of the question requiring adjudication been given to the parties identified in Paragraph 9 above? .................. ~ Yes ~ No 15. If Petitioner(s) has/have knowledge that a share has been assigned, renounced, disclaimed or attached, provide a copy of the assignment, renunciation, disclaimer or attachment, together with any relevant supporting documentation. Form OC-O] rev. 10.13.06 Page 7 of 10 Estate of DEAN SMITHERS ,Deceased 16. Had the decedent been adjudicated an incapacitated person? .......... ~ Yes ~ No If yes, attach a copy of the Order if available; otherwise state the Court, term, number, date, and name of Hearing Judge. 17. A. List or attach a separate list of additional receipts and disbursements since the closing date of the Account. B. Has notice of the additional receipts and disbursements been given to the parties identified in Paragraph 9 above? ............. ®/ Yes ~ No 18. If a reserve is requested, state amount and purpose. ,4mount: ~'~~ Purpose: If a reserve is requested for counsel fees, has notice of the amount of fees to be paid from the reserve been given to the parties in interest? ........................................ Yes ~ No If so, attach a copy of the notice. 19. Is the Court being asked to direct the filing of a Schedule of Distribution? .......................... /®Yes ~No As to real estate only? ........................................ Yes ®/ No Form OC-DI rev. 10.13.06 Page 8 of 10 Estate of DEAN SMITHERS Deceased Wherefore, your Petitioner(s) ask(s) that distribution be awarded to the parties entitled and suggest(s) that the distributive shares of income and principal (residuary shares being stated in proportions, not amounts) are as follows: A. Income: Proposed Distributee(s) There is no Income to be distributed B. Principal: Proposed Distribzztee(s) There is no Principal to be distributed (See attached Addendum) Amozrnt/Proportion 0.00 Amount/Proportion 0.00 Submitted By: (All petitioners must sign. Add additional lines if necessary): F&M Trust Company: BY: ~".~~-nom Name of Petitioner: Susan A. Russell, Vice Presiden .~ ~ ~ ~~~. Name cf Petition r: Delores M. Smithers r Name of Petitioner: Lisa S. Campbell FormOC-01 rev. 10.]3.06 Page 9 of 10 ADDENDUM TO PETITION FOR ADJUDICATION OF ACCOUNT OF THE ESTATE OF DEAN SMITHERS No. 21-08-1261 Through the filing of this Petition for Adjudication of Account, I would like to draw the reader's attention to the matter of the Notice of Claim filed against the Estate of Dean Smithers by Key Bank USA, N.A. ("Key Bank" or "Claimant") for repayment of a delinquent student loan for Dean Smithers' grandson, Joel Terry (son of Dean Smithers' daughter, Sandra Terry) which loan was purportedly signed on February 14, 2004, and which student loan documents were purportedly co-signed by Dean Smithers individually. Key Bank initially made the Co-Executors aware of this claim when Key Bank's attorneys, Weltman, Weinberg & Reis, filed a Notice of Claim with the Cumberland County Register of Wills' Office on or about October 22, 2009. Based on our research, it appears that the student loan documents were purportedly signed by Dean Smithers on February 14, 2004, but Dean Smithers' wife, Delores Smithers, has no recollection of Dean Smithers agreeing to or actually co-signing any student loan note. The estate denies any responsibility for this student loan liability. A copy of the Key Bank USA, N.A. Loan Agreement is attached to this Petition for Adjudication of Account. We direct your attention to Dean Smithers' signature on page five of the loan agreement. Based on just a cursory review of the signature, when compared to Dean Smithers' true signature on the probated Last Will and Testament, the signature purported to be Dean Smithers' signature is not valid. However, even if we set aside the issue of the enforceability of the Key Bank promissory note, we then must explore Key Bank's ability to collect against Dean Smithers' estate. As reflected in the First and Final Account, filed in conjunction with this Petition for Adjudication of Account, Dean Smithers' estate has no assets against which Key Bank, or any creditor, could collect its guarantee. The only assets in which Dean Smithers had an interest immediately prior to his death, were assets jointly owned with his wife, Delores M. Smithers. These joint assets were held as tenants-by-the-entirety, which renders them beyond the reach of the claims of creditors. Based on the forgoing discussion, and the Petition for Adjudication and the First and Final Account, the Petitioners ask this Court to dismiss, with prejudice, the claim filed by Key Bank USA, N.A. Estate of DEAN SMITHERS ,Deceased Verification of Petitioner (Verification must be by at least one petitioner.) The undersigned hereby verifies '~ [that he~she she of the above-named name of corporation F&M TRUST COMPANY and] that the facts set forth in the foregoing Petition for Adjudication /Statement of Proposed Distribution which are within the personal knowledge of the Petitioner are true, and as to facts based on the information of others, the Petitioner, after diligent inquiry, believes them to be true; and that any false statements herein are made subject to the penalties of 18 Pa. C.S. § 4904 (relating to unsworn falsification to authorities). F&M TRUST COMPANY ~!~~ BY : -~ Signature of Petitioner Susan A. Russell, Vice President * Corporate petitioners must complete bracketed information. is titre Vice President Certification of Counsel The undersigned counsel hereby certifies that the foregoing Petition for djudication/ Statement of Proposed Distribution is a true and accurate reproduction of th o Petition authorized by the Supreme Court, and that no changes to the form have b n de beyond the responses herein. Signature of ~ounsel for Petitioner Form OC-Ol rev. 10.13.06 Page 10 of 10 PROOF OF PUBLICATION State of Pennsylvania, County of Cumberland James Kleinklaus, Advertising Director, of The Sentinel, of the County and State aforesaid, being duly sworn, deposes and says that THE SENTINEL, a newspaper of general circulation in the Borough of Carlisle, County and State aforesaid, was established December 13~, 1881, since which date THE SENTINEL has been regularly issued in said County, and that the printed notice or publication attached hereto is exactly the same as was printed and published in the regular editions and issues of THE SENTINEL on the following day(s): February 4, 2009, February 11, and February 18, 2009 COPY OF NOTICE OF PUBLICATION NOTICE LETTERS TESTAMENTARY for the Estate`of DEAN SMITHERS, deceased, Fate of the Borough of Carlisle, Cumberland County;"Pennsylvania, having been granted to the undersigned on Jahuary 1.6, 2009, All persons,Fndebted,to the Estate are requested to"make immediate payment and those havirjg claim"s against he Estate are requested to present them for settlement without delay to' F& M Trust Company, Co-Executor 3907 Market Street • .Camp Hill;° PA 17011 Delores M. Smithers, Co-Executrix 5 Alliance Drive, Apt. 302 Carlisle, PA 17013 Lisa S. Campbell, Co-Executrix 20 Shippensburg Road East Berlin, PA 17316-91 ~3 Or To: LOWELL R. GATES, ESQUIRE Gates, Halbruner & Hatch, P.C. 1013 Mumma Road, Suite 100 Lemoyne, PA 17043 Affiant filrther deposes that he/she is not interested in the subject matter of the aforesaid notice or advertisement, and that all allegations in the foregoing statement as to time, place and character of nublicati 'are true. %.~ Sworn to and subscribed before me this ~ ~ aC~~G ~~ ~ ~~~~~~~~'v Notary Public My commission expires: ~RMM4MW~ALTH C)F PENNSYLVANIA NOTARfAL SEAL BAMBI ANN HECKENE'ORN, Notary Public Camp Hill Boro., Cumberland County My Commission Expires Janua 27, 2010 PROOF OF PUBLICATION OF NOTICE IN CUMBERLAND LAW JOURNAL (Under Act No. 587, approved May 16, 1929}, P. L.1784 COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND ss. Lisa Marie Coyne, Esquire, Editor of the Cumberland Law Journal, of the County and State aforesaid, being duly sworn, according to law, deposes and says that the Cumberland Law Journal, a legal periodical published in the Borough of Carlisle in the County and State aforesaid, was established January 2, 1952, and designated by the local courts as the official legal periodical for the publication of all legal notices, and has, since January 2, 1952, been regularly issued weekly in the said County, and that the printed notice or publication attached hereto is exactly the same as was printed in the regular editions and issues of the said Cumberland Law Journal on the following dates, V1Z: January 30, February 6, and February 13, 2009 Affiant further deposes that he is authorized to verify this statement by the Cumberland Law Journal, a legal periodical of general circulation, and that he is not interested in the subject matter of the aforesaid notice or advertisement, and that all allegations in the foregoing statements as to time, place and character of publication are true. Li~ arie Coyne, Editor SWORN TO AND SUBSCRIBED before me this 13 day of February, 2009 __ Notary Smithers, Dean, deed. Late of the Borough of Carlisle. Co-Executors: F&M Trust Com- pany, 3907 Market Street, Camp Hill, PA 17011, Delores M. Smith- ers, 5 Alliance Drive, Apt. 302 , Carlisle, PA 17013 and Lisa S h~07'`"~'•~- Ste'°~ . Campbell, 20 Shippensburg Road ~E80RAH A CCLLiNS , East Berlin, PA 17316-9123. Nofary P~:i;}-ic Attorneys: Lowell R. Gates, Es- CARLISLE BORO, CUP~~d~RlA-~tu CC~t;i~~1Y quire, Gates, Halbruner & Hatch, My Commissior~ ExFir~s Aaf ~4 2C~ ~ P. C., 1013 Mumma Road, Suite 100, Lemoyne, PA 17043. EXHIBIT A Copy of the Claim Against the Estate of Dean Smithers Dated October 22, 2009 filed in the Court of Common Pleas, Cumberland County Pennsylvania, Orphans' Court Division by KEYBANK NATIONAL ASSOCIATION IN THE COURT OF COI~iIMON rLEAS OF Cumberland COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION IN RE: ESTATE OF No.: 2 I -08-1261 DEAN SMITI~ERS (Deceased) CLAIM To the Clerk of Orphans' Court Division: Index and make proper entry in your official record of claim of KEYBANK NATIONAL ASSOCIATION c/o Weltman, Weinberg & Reis Co., L.P.A., 323 W. Lakeside Avenue Cleveland, OH 44113-1009, Account. No.: xxxxxxxxx5408 /Educational Loan account unsecured in the amount of $129,971.44 plus accruing interest, against the estate of the above named decedent. This claim is filed under section 3532 (b) (2) of the Probate, Estates and Fiduciaries Code. The said decedent, who resided at 5 ALLIANCE DR. CARLISLE, PA 17013, died on November 12, 2008. Written notice of this claim was given to DECOKES SMITHERS, Fiduciary at 5 ALLIANCE DRIVE, APT. 302, CARLISLE, PA 17013 and LOWELL GATES, Esquire at 1013 MUMMA ROAD, SUITE 100, LEMOYNE, PA 17043 on October 22, 2009. Gladys Imburgia Authorized Agent for Claimant Weltman, Weinberg & Reis Co., L.P.A. 323 W. Lakeside Avenue Cleveland, OH 44 1 1 3-1 009 Telephone: 1-800-807-7796 WWR# 7856561 BROOKLI'N HTS, off WELTMAN, WEINBERG & REIS CO., L.P.A. 216.7395 100 CHICAGO, IL Attorneys at Law 312.782.9676 96~ Keynote Circle (216)739-5081 (888)32-7109 CINCINNATI, OH 613.72 3.2200 ~90N-THURS 8A11'I-6PM, FR! 8A~9-SPh~I, & SAT 8A~'i-12PNI EST CLEVELAND, OH www.weltman.com 216.686. l 000 COLUMBUS, OH 614.228.7272 January 8, 2010 LOWELL GATES, Esquire 1013 MUMMA ROAD, SUITE 100 LEMOYNE, PA 17043 Ite: The Estate of DEAN SMITHERS Creditor: KEYBANK NATIONAL ASSOCIATION Client Account No.: xxxxxxxxx5408 Our File No.: 7856561 Dear LOWELL GATES: DETROIT, Nll 248.362.6100 GROVE CITI', OH 614.801.2600 PHILADELPHIA, PA 216.699.1600 PITfS13URG11, PA a i ~ az:~ ~4;; Please find enclosed a copy of document(s) regarding the above referenced account. Please contact our office at 1- 888-532-7109 to discuss this matter further. We look forward to hearing from you. Sincerely, Gladys Imbw-gia Estate Specialist Ext. l 020 This law fiilll is a debt collector attempting to collect this debt for our client and any information obtained will be used for that purpose. 663 / 10087656 WAFiNINa: Any parson who knowingly makes a fates atalement or misrepresentation on inolude Rnes or imprlsonrnantunderrhe Unttod States Criminal Coda. Oo not complete this application without oaretulty reading the cosigner, please have them fully complete the Cosigner tnfotm it and tivrlte your oerrection above or next to !t, Do not use white-out on any item on the app and School Information reify, If you are applying with a printed infarrnaHon is incareot, please draw s fine through on. Processing of your Applice6anJProrttissory Notevrlll by dcleyedffitle lncomptele. Citizenship (chaok ono): Notice !o student: If you ate an ettgrbls ranehlzen arpermartenl coafdent, you must have a corrgner Enter your 1 N9 ReglshaHon Card ti U.9. Gthen or National ^ Ellnlbla Trion-Citizen 2. Gtrrrent Malliltg Addroaa: Name {Last, First, MIj TERRY . JD>:L C Street 808 W RAWWIDE AVI; city ~zi_I3ERT state AZ _ YlP Code 85233 CvrrontTetep toner y480) 882-5059 3. Perrnenent Mailing Address; 9iraet 6Q$ Yj RAWHiUt: AVE City -AZLJ}ERT , State AZ ZIP Code ~~233 PermQ.nentTetephana f 48Q ) 892-5059 E-Malt Addro,s 1oNtlonal} 4. Soolat Soourity Number; t3. Date of Birth: 30URCt3 CQ!?E 222 B. Petsonai Reference: - Yau must proVZda ono adrrlr rvYrrranae wLlh a different U. B, addr•vaa. Hvfor~noo moat be oa~p,Ietsd fully. Cannot` bo fhv ~or'rower or oveipner. Name {~. ~U1''i' ~Ttt't`.1 Permanent U.S. SUest Address Cityl3tate/Zip Code t9•I4.~F,}?3 -,tom .'3. ; ~ ~}- , t`3~2 3 Telephone (-fis.~-; $9'~'-•'-f~4~~ -{,i~h~\- ri't}•~]~t,~Tb^i~1 7. Schoo[Name: CHANDLEt2 AI#t S<rRVIC6 INC. 9. TiUelVSchoolCodq: 7003180Q 1}. School Addrasa:- •- -~ - - - - - -- • - - • - --•-- id. SnrolfmontStahra: - - - Pult•tlme $ .time' ^ • • • - - 1i. Grade Lovel: Street _187$ EAST RYAN RU,~ t . Ftret Year, 2 C Sophorrpra; 3 ~ Junlar. 4 = SaNm; 6 .. tuh Yoar sanloUBoyand city ~fANa~ER State AZ ZIP Cade ~~~9 A°tgtYoarorad;8=2nd YearGrad;Oa3rdYoart~rad;t)=41hYeart~rad Telephone (48~) 363-6420 12 Antidpated t3raduatlon Bate: month 12 day 01 year 2005 $ 12,000 ,QO t1We understand that (1) eoneurner reports (credit reports) may be obtained ire oonneo6on Nth my Key Altamailve l;aer- ApplicaHott, (2) ff I request, l wi11 ba lnfamed whether or not consumer tepwta e;s obtained, and {8) ff repots are obtained, 'rf I request. (wilt be (nfarrrtod of the names end addreeses of the oone~mer reporting agenelos (aredltbureaus) that furnish the repott9. If this applleation is approved, subsequent consumer reports may be requested of used In nortneoHon with art u0.datg, CeB?Y1al~ot extegston of the oreditto~_• ~ _ _ which I havaapplieJ. _ ..._. _ •_-- ..-__ ~.-... _ ._.~.._ _ _ -- -,,..-._~. ~ , _ ,. ~.. 1, (we) have oompleied this application to obtain oredit, turd oertlty that trio above siate+nents ate true and oompiete. l (We) authorFie ~ar to check my (our) credit tgierpttcas and to outsin cwdit rop•nrt{s), i (wo) oleo authorize you to provide airdlt report(s), aorsonal and tinanoia) Information provided wltlt this t<.ppLcailon and ctedit,~rortgsga tnformaflon arlsi^g front this 4ransaotlon to the school listed abovo. ((we) authorize the school listed above to release to the tending tneHtutlor,, aubaaquent holder or their ~gentg arty requested infamaBon pertinent to this loan applleatlon (a.Q. employment, enrollrttent status, prior h)story, current address). I cattily chat the proceods of this loan will he used soteiy for eduoaional purposes for the academic period stated )n tMa appllcatian atihe educational inatliutlon listed on this sppiioaBon. Evap ff I (we) have eleoted to opt out of (nfotmation sharing or do so to the future, I (ere) understand and agrao tints cateent authorizes you to share Ih1s infamaQon for purposes of procossing this apptlcatfotti and aervidng any resulting roan. To help the govornment tight the funding of terrorism and money isunderlrg actiNtlea, Federpl law requires all ilnartcial institutions to obtain, verify and raoord information tJtai identiflea each customer who opens an account, Therefore, alt new and exiatlng customers are subject to identity verfflcatlon requirements. When a customer opens an aooount v+ith any entity within the KoyCap tarnlly at oompanlea, we will ask tar their name, address and ldentifica6on number, and, in the case Dian individual, his a het date of bath. for business nccounts, v,e may also obtain this lntamation for individuals associated with the buslnoas. Wo may also request to see A driver's license or ocher idenBfying dooumertls. In all cases, Key is commJttod to protacbnp the privacy and identity of each of its cuatorrtars, Botrotvor signature ant[ ooatgner atgnatLra Crf npplloabte) are required on page tiff NfASTER STUDENT LOAN pROI1111SSORY NOTE No whlta•outs or 9oratoh-Data of terms will ba accepted on ihty Promlarory riots, A.IDEtVT1FiCATION OFi'AR•TiH8 ANDTERMs In Utls Appllcadon/Master Shrdenti,oan Promissory Note, anises othonvisoprovidad, the words 'I', tire', 'our." 'ue,` 'ttte; 'my', and 'mina` mean the person(s) wire signed this ApplloadonlMaster 3hrdent loan Promissory Note ore borrower. co-borrower, and/or coslgner.'You•, 'your','yours•, and 'tender' mean Key Bank USA, National Assoolatlon, Cleveland, Ohlo, of fta successors and assigns, and any olltcr holder of Htls Master student Loan Promissory Noty_ Terms In lnhlal capital !attars in this Note have the de8nftlons set forth to Paragraph 4 or elsewhere in this Note, unless otherwise noted. B. PRaM1BB TO PAY; GQNSOUDATION; AC3aptipATINQ BAiANC@S This Is a consumer credit transactlon. 1 promise to pay to your order or to any subsequent holder nil prlnc)pal sums dlsburaod under Ute teams of Urla Note nnd, (n this App1[catlon/Master Student t,oan Promissory Note (e subJoot to penalHea whloh may enclosed insbucSon sheet Complete the t3tudent Borrower a4on. Type a print in ink end Initial any changes. if any pre- addtion, interest on sVch prinoip~ sums, interest on any Gapltattzad interest, and ocher charges and fees that-may become due as provrdvd to uric Note. t will pay all of these amounts to you at Ure address shown Jn my coupon book. 1 understand end agree titer you may mako multiple Loans to mo under thB xay hank USA, National AsaootaUoq Loan program tinted In Paragraph D.10 {'the Loan Program') subject to the forma of thta Note. 1 undaraland and agree that this Note nets forth the terrna and conditions applicable to ell Loans made io me under the loan Program on or after the date of this Noto and beforo the date of any subsequent master student Iosn protniasory sorts relating to loans ablained Onder Hie loan Program that 1 have signed.! understand and agrao that, for the final loan that 1 obtain subject to the terms of this Master Shrdent loan Praniasay Notes ORIQINAI CQpY ~ FGL,6VA (09JOCt) '~"" ia. Citlzonshlp (cheek one): ~ U.3, Citizen or Natienal Q Eligl6le Non-Cullen Enter your {NS Reglatration Gard #/- - - in addition to this Master Student Loan Promissory Note, I will receive d Risclosuro t;tstement I further understand and egreA that I wilt not receive a ne+N master student loan promissory note for any additional Loan(s) that I may obtain under the Loan Program unless I am required bo sign a new muster student loan promissory note beoauso of the naWre o} the modifications of the terms of This Master Student Loan Promissory Nols or any subsequent master student loan promissory note relating to loans obtained under the Loan Program that i have sipped. 1 will receive a Haul Disclosure Statement WJth respect to each such new loan. In addition, I understand end agree that, at your option, you may consolidate any a all of iha following into one Loan subject to iha terms of this Note: {t) any loan{s} chat I have In effect under the Loan Program before the date of this Note and (r) any Loan(s) that I may obtain under' the Loan Program on or after the dais of this Note and before the date of any subsequent master student loan prvmisaory note iela6ng to loans obtalnad under rho Loan Program that 1 have Blgnocf. I also understand and agree that, at your option, whBther or not my loan(s) subject to the forme of this Note of any loans that I have In efbct under the Loan Program betorQ Hie dale of Urle Note have been conaot(dated, you may aggregate the total outstanding balance of each such Loan and loan prig to repayment solely for purposes of determining my monthly payment amount and repayment term. to this event, you will determine my monthly payment amount end repayment term based on the terms of my most recent Loan_ made under the Loan Program. _ _ _ _ C.^GENERAL PROVISIONS; AUTHORITY NOT -f0 MAKE LOANt3 OR DI38URSEMENT9; WRt71Nas; 31aNA7UREs t_ When you receive my signed Note, you are not ayreeing to lend me money and th~a wAt be no such agreement until rho Ume you r!ta._o Its flrot dlaburaornonl an the Loan. eased on your evaluation of my oredit quafifioabons, whioh you may oonduct as part otyour reviser o1 my Applloatlon or at any Ume during the term of any Loan (s) that 1 obtain subJecl to 1ha terms of this Note, you have Ute right not to make a Loan a a disbursement err a Loan a to lend en amount less then Ute Amount Requested, l agree to $ocept an amount leas than the Amount Requested and to repay That portion of the Amount Requested ltlal you actually lend to me, plus Interest an suoh prTnoipal sums, interest on any Capitalized interest, and other charges and tees that may become duo ns provided In this Nole, 2. Atl Appllcedona, Disclosure Statements, and separate Cosigner Notices {if any} relating to any Lean subJeet to iha terms of thlB Nole are incaparated In and made a part of this Note. 3, If, under this Note, an act or agreement rnus! be 'S~vriRen" or in 'tivriting°, an sot or agreement performed or provided by means of elocbonio communloetion wit) be considered to be lvtitten' or in 'tivrrting', as iha case may be. K, under this Note, a document must he 'signed", a digital or electronic signature that complies with applicable tedetal laW requirements or (in the case of the Lander) ~ pre-affixed facsimile eignaturevrill meet Ihle requirement. 4. After you deolde to make a Loan to me, you wilt send me a Dlsotosure statement, In addition to athar information, the Diaolosure Statement ~vifl te11,mA the amounts of my disbursements and Iheamountof any loan free, 6. { wilt rsvlety ~mY Disclosure Statement upon receiving it and will conlactyou ft I have rrty questions. 8, Unless I choose to have my monthly payments sutomabcally debited, twill receive a coupon book on any Loan(s) subJecl to the farms of this Nole. Fa purposes of this Pararraph C.6,'1"raters only to the borrower. D. DEFINITIONS 1. Amount Requested -means the dollar arrtount ofi the Loan roquoatad st the tlme of my Application. ?.. Application -means the wriNen or oral request that I make 1o you for a Loan ulyder the Loan Program, 3. Capitalized interest -means accrued end unpaid Interest that has been added to the prindpal balance of a Loan. 4. Cosigner Notlce -means any notice that: desorrbes lire obliyaUons of a ooslgnei under Ihia Note and chat fa signed by my cosigner with respect to any Loan that t obtain subject to the tarns of this Note under iho Loam Program. 5. 0lsbursemant Date - ,mans any date on which you lend money to me In consideration for this Note and w11I be the date shcnvn on my Loan check or the date the Loan funds are elecbonically barsferred to my institution. 8. Disclosure Statement - means a disclosure statement setting forth the Information required by the federal Truth-in-Lending Act and Federal Reserve Board Regula@on Z, t 2 C.F.R. Pnrt 226, or sue{? other disclosure statement that you may provide when a .disclosure atatemeni le not required under this Act and Regulation Z. 7. Institution -means the eduoalfonel InsUWbort, It any, to which the prooeads of my Loan(s) are payable. B, Interim Period -means iha period beginning on iha initial Olsbursement Date and ending on iha date which is six (8j rnontfis after f graduate front, or otherwise cease to be enrolled at least half-time at the Institution Edentlfted at the Ume of my Apptlcastltlon a any other eligible Institution. B, Loan • means all principal sums disbursed daring the twelve (t2}•nwnth term a( an academia year of the Loan Program (ore such year is designated by you) under rho terms of this plots, pius interest on such principal sums, interest on any Capitalized Interest, and outer charges and fe9s Ihatmay become due under iha Loan as provided In tills Note. ' 10. Koy Bank tJSA, N.A- load Program ('Loan Program'} -means the Key Alternative Loan® program. 1 t. Note • means this Master Student Loan Ptomissay Note aettiny forth the terms applicable to ell Loans that ! (rave in effect under the Loan Program before the data of this Note (thoi you have agreed to consolidate into this Note) and that 1 may obtain under the Loan Program on or after the date of this Nola The term "Note", as Used in this Master Sbrdent Loan PtorNssory Note, includes the Appifcaliona, Disclosure 3tatemenls, and Cosigner Notices (rf applicable) relating to all Loans Utat t obtain subject to rho terms of this Note, unfesa otherwise provided, ~ 2. Repayment Period - mearie the period beginning on the day after the Interim Period ends and continuing for ono hundred and twenty (120) months if ifs total principal balance of my loans under Ure Loan Program and my Loans subject to the t'erma~bf this Hoto fs loss than X16,000, one hundred and elghb/ Ilse) months fi the total prlncfpril balance of my loans under the Loan Program and my Loarte subJeot to the terms of this Note la equal to of greater than 516,000 and less than 580,000, or two hundred and forty (240) months it the total principal balance of my loans under iha Loan Program and my Loans subject to the terms of this Note is equal to err greater thaq $80,000, Tha longtit of the Repayment Period Is subJeot to limitations on the period of repayment under applicable law. ~. INTEREST 1, Aoorual - interest on this Note will accrue at an interest rata equal to ilia Variable Aate. Interest begins to accrue on the fnltiaJ Disbursement Date and will contin4e tc accrue until the entire prindpal balance and all other amount, are paid In lull, Interest w111 accrue on the unpaid princpal baianea to the extwttit (s disbursed to me or paid on my behalf, and on Capitalized interest and any other fees added to the prinoipal balance in accordance vtlth the forms of this Note. InlerestwilJ be calcufeted op iha beets of the actual number of d'aye in the year and Ute aobial number of days elapsed, Includlrig holidays and days on which you are not open for Hie conduct of banking business. 1f l do not pay interest to you during ~y interim Period, et your option, you ntny add, suoh interest to the prlnofpal.balanoe_of the Loamin accordance vgth Pazagraph ~.4, 2. Variable Rate - Duting any Interim Period, the annual variable interest rat® (the 'Variable Ralo"} to equal to the Current Index, plus an °Iniorim Margin' not to exooed 2.769u. During any Repayment Period, the Variable Rate fs equal to the Current index, pius a'Repsyment Margin' not to exceed 2.80°,6. The Variable Rate may Jnorease or decrease and will ba sd]uebed quartoriy on the flret day of each ,lanuary, April, Juty, and Oalober (the 'Change Date? if Ihs Current Index changes. In rte event will the Variable Rate be more than the maximum rate permJtted under applicable IoW, 3. Current index -The "Current Index" is the three-month London Interbank Offered Rate {"LIBOR') published in Ihs "Money Rates' section of The 1holl Street Jotu'1te1 on the 2(.4h day of the month preceding the appkcable "Change Data' (e.g., peeember, Marsh, Juno, and t3optembor), subJeot to rho Ifmltstions herein. You will use file throa•month LIBOR published on the 20th day of Ute pre.oeding month without regard to the two-day delayed effective date, Jt Ute 20th day of Ihs month is not a business day, the preosd(ng buafnass dqy will be used to determine the Current Index. For purposes of this Paragraph E.3, "business day` means any day the banfcs in New York and London are open for the UansacUon of business. You may round the •Cwrent Mdex• higher to two deolmal planes, F'or example, 8.88761%w1H berounde~d to 6.4996. (This is en exempts and may not be reflective o} the actual LIBOR.} LIBOR Is the British Banker's Association average of interbank offered rates for ddlar deposits in ihs London market based on quotations at 16 major banks. LIBOR Is merely a pricing index and is not nece6sari{y Ihs lavest interest rate index used by you or e»y other fonder. If LIBOR is no longer avallahle, you will choose a oompetabfe index. 4. Capitalization - At your option, you may add aN ecaued and unpaid interest to the principal balance al my Loan, on rho laatday of any interim Period, and on the lest day of any peeled of torbeeranoe. t agree to the addition of eoorued ono unpaid interest to the prindpaF balance (tha'campouncl:ng` of interest} as set iarth In Paragraph E.1 and this Paragraph E.4. • P. TERMS OP REPAYMENT 1. Interim Period - t may, but am not required lo, make payments of interest or principd during the interim Period. You may add acaued unpaid Intersat Ihat 1 do not pay during Iho interim Period to the pr{nc(paf balance a4 set forth in Paragraphs E.i and 1~.4. 2. Repayment Period -During the Repayment Period, i vrill make consecuttva monthly payments in the Indicated amounts by the payment due dates shown fn my coupon book until I have paid all of iha principal and Interes3 and any other charges that I may o~ve under the Note. 3. Repayment 7ernns - 1 wilt repay my Loan in conaracuUve monthly tnstallmants of prlno(pal and interest Ii my Variable Rate lnaeases a decreases, sa that Ihv total amount I must pay to you increases or decreases, my monthly paymortt will stay rho spa but I writ make rpore or tower rnortthly payments. then would otherwise be required. My monthly payment amount twill not be changed unless my Variable Rate increases to the pant where that amount vrill not repay my Loan In full within the maximum permissible Repayment Period, in that case, my monthly payment amount tray be increased to fire minimum payment that will do so. M this should happen, you will notify me of my new monthly payment amount I understand that (may Increase my monthly payment arrrountat any Ume. 4. Amounts Owing at the End of the Repayment Period - Since interest aoerues daily upon the unpaid principal balance at my Loan, if I make payments After my payment due dates, 1 may area additional interest and returned cheok/NSF tees, Il 1 have not paid my late charges 1 will also owe additional amounts for (hose leis charges and returned oheck/N3F fees. In such ease, you w111 increase the amount of my last monthly payment amountto the amount neoeaearyto repay my Loan fn full. 6. AppliaaUorr of Payments -You may apply payments on any Loan fn any manner thoi you determine wiUun your sole discretion. fj. Mlnhnum Payment • NoNrfthetendJng any other provision of Paragraph F, if my required payment In any month is (ass than $6Q00, at your request, I agree to pay $50.00 (prlncJpe) and Interest) or the unpaid balance, whichever is less. Ci. LATE CHARQ88 ANWGR R1rTURNED PAYMENT/NSP PEES On any Loan that 1 obtain subject to the terms of Ihls Note: 1. Late Charges - I spree to pay a fate charge it E tell to make any part of an insfallrnent payment within fifteen t15) days after it becomes due, l will pay only one fate charge fa an inatalfinent payment, rsgarcUasa of the number of days !t is late. The late ohatge may trot exceed Ihs lesser of $5.00 or 5.00°~G of the unpaid amount of the instalfmonL 2. Returned i'aymentlN9F Fens - I ayrea to pay arelurned payment/NSF tee of $20.04 on the next payment it my bank returns my payment a it any check-or outer irtatrumenl given for my paymcrit is diahonorod is any reason, In addition to the fees Utat my bank may assess. FGL.SVB(oWo~ ORT;GINAL COPY ~~® ~ ®2004 K RF~PAID FINANCE CHARQBS N. COSIQNEFt NOTlCEB On any Loan that I obtain subJeci to the terms of this Note, I will pay to you utter the For purposes of theso "Cosigner Notices' only, the words '~rou', 'your' and 'yours' final Disbursement Oaie a town fee, datermined by you, not to exceed Iha percentage , meant the person(s) who algrted this Nato as A aosignor and Ute word 'bank' means Ilsied below vrllh respoot to my Loan of the told prindpal balance, (excluding Cap111alized tntereat) upon wt-Ich a [Dan fee has not been charged. The amount o} the , Key Bank USA, National Aasadation, Cleveland, Ohio, or its successors and assigns, and any other holder of this Note. loan tee wilt by ldentlfied on my Diadoauro 3latement. The loan fee !!sled botav wilt be added attar the time for me to cancel Iho final disbursement under Paragraph R.2 of NOTICE TO COSIGNER: You are being asked to guarantee This debt tills Note has expired without any suott cancellation. if you have not already added a . Think carefullybefateyDu do. it rho baro~ver doesn't pay the debt, youtvlli have to, Be fee Io the proceeds of the Loan and I have not already paid that tee, I agree Urat you sure you can afford to pay Sf you have to, and that you want, to accept thin may add the amount of the Joan fee to the prlnolpal balance of my Loan or !fret 1 will pay responalbtlity. You may havo to pay Up to the full amount of the debt if Ure borrower . the lose fee when you till! me for It_ t will not be entlUed to any refund of any loan fee, does not pay. You may also have to pay Tate less or collection costa, vrhich increase (a.j Cosigned Loans - 4.g09b. (b.) Non-oosl~ned !Dana - 8,0096, this amotmt The bank Dan collect lilts debt front ycu vrithout first trying to collect from 1. HlGtil'7o PREPAY- ~ ~ Urv borrower. The bank Dan use the servo oollectfon methods against you that Dan be I have the right to propay a}I a any part of !try Loan(s) at any time wlUtout penalty. !'repaymenE of less than e11 of the outsUsnding balance of my Loan(s) will not reduce used against the borraver, such as suing you, garnishing your wages, etc. n this debt (s ever in default, that fact may become a part of your credit record. Thle no@ce Is not Uie arnagnt of monthly payments or pae>pone the due data of monthly payments, but theoontraotthatmakesyoultabiefor 1he debt will reduce the number of payments 1 must make. In any event. l will act be entitled to a ILLINOIS AND M[CH{OAN RE8}DENTS: Notice to Cosigner: You ate hfling refund of any part of the interest or finance charge already paid. asked to guarantee this debt. Think carefully before you do, If the borrows doesn't pay J. FOEiHEARAKCB the debt, you will have la 13e sure you Dan afford to pay if you havo to, and that you It t am unahio to repay any of my loans fn accordance with Iho tams established want to scoeptthis responstbllity. You may have to pay up to the full amount of the debt under this Noie, 1 may requost the} you modify these terms, I understand the[ such If the borrower lass not pay. You may also ItRVe to pay tale face a oollaotion coals, modlfiaetlon would be at your option. l understand that I will remain responsible for all whidr increase Ibis amount The bank can us© t}te same co11vc6on maUtads ageJnst interestacoruingluring any period offorbesranoe, you that Dan be used against the baraver, such as suing you, garnishing your wages, K DBFAUL7; WIiOLE LOAN DUE eta, if Ihia debtls aver in default. that tact may become a part otyour credit record. This 5uhjeot to the limitations of nppllceble ~aw,1 will be 1n default under arts Note and you notice le not the contract that makes you Ilabte for the debt have rtes right to () give ma notice that 1f1o wtrele oufstn,tding prinofpa! heJerco, accrued lntarest, and all other amounts payable to you under the terms of this Note, era NErI'1 YOAtC RESIDEtJ'3'9; N4TtCE: You ogres to puy the debt Iciantlffed be;uw although you may not personalty receive any property, services a money, You maybe due and payable at once (subject to any applloable law that may give me a right to cure , sued for payment although the person who receives the property, services, or money is ~my~defauil} and n cease tomakofurlhaf disburo9mente lo:mo if; ~-•-- ~--- •- - • • -able tapay,-You should knaw•that-the-Tofa}afiPaymenta tistadbolavdo~e not tnctude 1.1 fall to make anymonlhly payment to you when due; or flnartoe charges resulting from delinquency, fate charges, repossession or Corectosure 2.1 die; or .coats, court caste or attanay'a lees, or other charges that may be stated to the note or 0. !break any of my other promisea in lhls Note; or contract You will also have to pay some or all of iheaa coats end charges ff the note a a. Any bankruptcy proceeding is b spun by or against me, or I assign any of my assets contract, tJre payment of which you are guaranteeing, roqulros the borrower to gay for Ihebeneflte of my creditors; or such costs and charges. This notlce fa not thg note, eonbaot, or other wrldng that 5.1 provide any false wrlUen statement In applying for any Loan subjt?ct Do the forma of obligates you to pay ih o debt. Read that wrltlng for the exact terms of your obligation. This Note ar nl any time luting the term of any such Loan; or IDF-fJT1FICATION OF Dt?87(8) YOU MAY HAVH TO PAY e. I become insofvenlti or Name of Debtor: The pason(s)lder-tified as the borroower and cabatowar at the tlmo 7. in your judgment there is a signlHoant teseening of my ability to repay any Loan otAppltca6on, auhjeotto the terms of this Noie; or e. i am fn default on any Loan subject to rho terms of Ihta Noie I may already have wllh Noma of Creditor Kay Bank USA, National Assoclatlon, and its aucoessas a asslflna. Date: Ttte Date d ibis Note. you, or on any such LAen t rrray have with you fn the future. load of Debt Education Loan. My failure to receive a statement or coupon hook does not reltove me of my Total of Payments; The "Loan Amount RQquested• ldentltted at the time of Appltcatian responsibtllty and obtipaiion of making the required payments for any Loan In. pins interest as setforth In Paragraph >; of this !Vote. accordetca wlUr lho terms and ccndittans of ihta Note, tf I am In default, 1 wit{ be You acknowledge by your signature on this Note thatyouhava been 0{van a completed required fA pay interest on any Loan accruing alter default. The interest rate (Variable copy of thla notice and of each writlng that obltgofes you or the Debtor on this debt. Rata) alter defaultwlll be aubjeat to edjustmentln the same manner as before default L COiLECT10N CQ879 11ERN10NT RESIDENTS: NOTICE TO COSIGNER: When and as permitted by applicable law, I agree to pay you reasonable amounts, YOUR SIGN/.1TURE -ON THIS NOTE MEANS THAT Including reasonable attorneys teas for any attorney who Is not your roguierly ealar(ed employee and court and other eoltectlon coats, that you Incur In enforcing Ute terms of YOU ARE EQUIaLI..Y LIABLE FOR REPAYMENT OF this iYoleif f arnin dotault. THiS LOAN. IF THE BORROVIIER DOES NOT PAY M. NaTlc>=s 1. 1 will send tvriflen notice to you, or any subsequent teller of this Note, within ten , THE LENDER HAS A LEGAL RIGHT TO COLLECT (10) days after any change to my name, address, telephone number, or tnatlbrtlon FROM YOU. entoilment staters, 2, Any notice rBqufred to by gluon to me fry you will ba ef(eodve (i) when malted byfi-sE O. C051QNER 08LIGATlOtV3 If 1 signed tlt(s Note ore a cosigner, 1 hereby uneonttitlonally guarantee payment of the class melt to the 1atQat address you have for me or (fl) if I agree to rece{vo notices and other comrnuniceHons electronically, when bansmittsd by eiecttonlo corntrtunlcatlon to borrower's and/or oo•bo-rowet'a Loan(sj subject to the terms of brie Note ~vhvn duo and in accadanoawlth the terms of U~is Note. l waive notice of acceptance hares! and the latest elecbonto mall address you havo for nte. Unless required by appilcobte taw, ycu need not give a separate notrce to rtes cosigner if any , waive all notices to which I might otltenytse be entitled by taw. I wslve ail auretyshlp , . 3. 5tato Law Notloea ~Aa required by law,-! am'hareby nolifled'thdT a ri'ogatl3e oredlC"" dofortsos that might ~e avaitab[a~lo ~(i~jirding~,~lFjot,t ~~tQdon,.conmbutlort, . ' autirogation, dad exotiera~ion).1 agree !teal the harrower may agree io any forbearance report retleo4ng on my oredlt raced may be eubm[tted to a credit rvpating agoncy K ( fail iV fulfill ti.1e terms of my credit obliga4one. A marled applicant may apply fora , extension, a other modfioatioo of the repayment sohedula and that such agreement w1U bo bin~ng on me Uniese required by a lio: bt ' ll l it h tb separate account. f agree that the tender may obtain a consumer report (credit repatf . pp r e aw , s a .w e noooseary for you to resort to a exhaust your remades a8alnat the borrower and/or co-borrower about nta from a consumer reporting agoncy {credit bureau). Upon my request 1 will be informed whether or notihe fender obtained a consumer report about me, and It so, rho before calling on me to make repayment I acknavledge that t have read, understand. and agreo to t1~e terms of the Cosigner IVotlce(s) that appears In Paragraph N and that name and address of the consumer reporting agoncy That furnished the report If my Appticatlon is approved, subsequent consumer reports may be requeatod or used in applies to me and, if ! arrr a California or Iowa resident, to the terms of Iho separate stela-spedtlo cosigner notice incorporated in and made a ert of thi N t !f t l connection with an update, rerrevral or extens{on of the credit for which !have applied. " p s n e ia app ies tome. NEW JERSt sY AE91DEN78: Because certain provlelona of Ibis Note are subject to apptfcable leer, they may be vo1d, unenforceable or Inappltca)tly In some Jurtad(CHona, P.INFDRNIATiON3NARING ptsolaoura of Account Information: You may share inlormation within the Ke ca None of these provielons, however, is void, unenforceable or inapplicable to New Jersey. OH[O RESlO>;tYT9: The Ohio .taws agalnet dlsodminatlon re uire that all p y fam)ly of compan[es as well as with unaffiflaled third partlea external to Key as d i d ~ q credltora make credit equally avaitabte to all credit worthy ous}tomer8, end that cred',t. escr be In your Prlvaay Pottoy, Wa spectfloolly consent to you sharing . Information wlihln the KeyCDrp frrm(iy of companies and with external reporting agengas malnlaln separate credit histories on oath individual upon rQqueat, The Ohio civil rights commJssion administers Dom llanco with this Iaty MARRIED tthaffillated third parNBe. p . WI8CON61N RESIDENTS: (a) My signature confirms that each Loan Is being Incurred i h _ NOTE: INre may elect to opt out of intotmatlon sharing, or may be' automatically _ opted-out under our slate isw, as described in your Privacy Policy. IF )lyre are optod n t e interest of my marriage or faintly, (b) No provision of a marital property agroernent, a unilateral statement under soctlon 768.69 of a court decree under out, drat efeodon will override this consent to share, except for those instances (n which youarootherwiseperm[tiedtosherobylawwtthoeitourconsent Section 7t18.7t) of the 1Mscansln 8tahrtes adversely affects the Interest of the creditor unless tl-e credtor, prior to !ha tlmo credit is granisd, Is furnished a Dopy of the . Q, pISCLOSUAE OF ACCOUNIT INPaRMA71aN To CONSUMER PEPORTINO AQENCIE9; INACCURATE INPORMATION agreement, statement a lease or has actual knowledge of the adverse provfeton whop the obllgatlon to !ho creditor (s incurred; (c) Unless the co•bararrer or cosi ner Yau are committed to furnishing complete r+nd accurate fnfamatlon about cred'd g ('d any) Is my spouse, rho fonder is required to ask me to provide tiro name and address aoaounts, inctuding any Loan subject to ltte terms of this Noie, to consumer reportlng agencies. It rho iMormation you report about any of my Loans is inacarrate 1 will write of my ripouse, unless t have provided such (nformatlon at the tlmo of my Apptioatlou, I will provide such Information by Dulling the tendon at 800.5395363 or wrltlttg to Ute l d , lo: Qreat Lakes Educatlona! Loan Services, inc., P.t). Box 7880, Madison. Wi 113707-7880, in my correspondence I should Include Ute fallowJng infarrnation; my en er et Key Educafiwt Resources, 796 Atiantlo Avenue, Boston, DM 92111 within fifteen {1ti) days offer the initial Disbursement Date of any Loan subject to the terms of social eocurlry numbor, Loan accalnt number(s), a copy of my credit bureau reporting II tfils Nofe. ro eoting the (nacorrrata Information, end my name, address, dry, state and z!p Dods. Fatbtrctosyos) ORIQINAL COPY R. AA81T'PATI~N 7h1s Atb{Varian Provleion cote forth the cltcumatancas and procedeJres under which Ctalms (as deflned below) may be arbitrated instead of titigaled in court, Thls P,rbltra6on Provision suporsedos and replaces any existing arbitration provision between you and ma This Arbltratlon Provlelon will apply to my Note or Prior Promissory Note (as defined below) unless 1 notify you In writing that I rejaot the Arbitration Provision within 60 days 01 signing my Note. The re}eoUon notice should be sent to Key Education RosouroasArbitration, P.O. Box 55445, Boston, MA 62205. Thor notice must Include the borroWar'a name, lire names of any ao-borrower or oostgnor and the Lopn number(e} and. must be signed by the borrower and the co-borrower or cosigner, N any. The reJsaction notice ehoulcf not include any other correspondence, Calling the Render to rajeot the Arbitration Provision or providing notice by any other manner or format than ore desortbed above will not operate as a rejection o! this Arbitration Provtoton and consQquDntly thly Arbitration Provision vrlll booome part of ihls Note. Re}sotton of this Arbitration Provision does not serve ore reJeolion of any other term or oondltlon of this Note or Prior Promissory Note (ae defined betgw) with rho fonder governing rho Loan or loan, - For purposes of this ArbrUatron Provision, the words 'you' and 'your' shelf mean Key Bank USA, Nat'soaal flssoclation, Clavotand, t34tlo, third pasties that have a may have had a relationship with you or me relating to the Loan Program (ncluding, without I(rrritation, any IAstitudon or servicer of any Loan or any loan that I have a may have had in efteot under rho Loan Program borate the date of this Note [and that is conadldaled or the total outatarrdlrtg belartcA o} tivhlch is aggregated under Paragraph B}), any other holder of this Note or any prior promissory note relating to any loan that t have or may have had in effect under the t-oan Program before the date of ibis Kota' and that fs consoidated or the total outstanding balance of which Is aggregated under -_ _Paragraph H ('I'rlor t'rornissory Note"), anc(.all of their leapgobve parente.wholiy-or . majority owned aubatdtertes,'aPfiltates, predecessors, successors, asalgna, employees, cfftoera, end directors. As used in this Arbiuadon Provision, the word `Claim° moans any claim, dispute, or oontroversy between you and rna arising from or reta>ing to this Noie, any Prior Promissory Nate, or the relatlonahips resulting from this Nols or any Prior Promissory Plots, in eluding, without dmitatlon, the validity, Enforceability, or scope o1 this Arbibation Provision, this Note. or any Prior Promissory Note. 'Claim' Indudoa clafma of every kind and nature, whadror pr4exisgng, present, or future, ]noluding, without limltadon, initial claims, countrrtclelma, cross-claims, and third-party claims, and Balms based upon oontraat, tat, fraud anti other lnlendonal Iortc, constitution, statute, regulafion, oommon taw, and equity (ncluding, without fimliaGon. any Berm for iniur,odve or declaratory relief), Thavrold 'Clalrrt° is to be given Ute broadest pposslbte meaning and Includes, by Way of exempla and tvlthout limllatfon; any Balm, dlapute, a controversy that arises from or retatoa to (a) any Loan subJeot to the terms of this Note or any loan that I have or may have had In efteot under the Loan Program before rho date of lhie Note and That is consolidated or the total oufstandfng balance of wNoh Is aggregated under Paragraph B, (b} lha goads or serviaegpurchased with the proceeds of any suoh lAarr or loan, (oj the ilnanctng of any such Loan or loan, (d) advertisements, prcmotlons, or oral or written statements related to this Note, any Prior Promteaory Note, any such Loan or loan, goods or aervicos purchased with the procseda of any such Loan of loan, or the terms of any such Loan or loan, (ej my epplloaUon for any such Loen or Icon end (f) the origination or servicing of any such Loen a loan or the origination of Ihts Note or any Prior Promissory Note, end {g) lho aollec5on at amounts owed by ma to you. This Arbitration Proviaiar wit! not apply to Claims previously asserted, or that are later asserted, In lawsuits filed before the effective date of the Arbitration Provision or any prior arbltraUon provision between you and me, wiytchevar ie oartier. However, this Arbltratlon Provision will apply to all other Cietma, even If the faote and dreumatancea giving rlae to the Claims extorted before the sNeotiva date o! this Publtration Provialon. Any Claim shall ba resolved, upon the election of you or me, by binding atbltredon pursuant to this Ar6itradon Provielon and the appl-rcabie rules of either the American ArbitraUat Aaeooladon, J.A.M.S~Endispute or the National Arbitration Forum in effect at the time the Claim ie flied (The tArUllrafion Rotas'). t may select one of These organlzadons to serve as the erbltredoa administrator if I initiate an arbitration against you or It either you or I oompet arbllta6orr of a Claim that the otlter party Ilse brought In court fn addition, If you intended to Initiate an arbitration against ms, you will notify me in writing and give me hvrrrtty (20) days to select ane of these organizations to aerva as the arbitration administrator; it 1 fall to aeleot an administrator withiq that twenty • (zoj-day parted, you atilt select ono. to alt cases, the arbitrabx(s} should be a lawyer with more than ten (10) years of expertenoo or a retlrod Judge. ft to any reason the selected organization Is unable or unwilling or ceases to serve as the arbitration administrator, t wilt have twenty {20) days to select a different administrator from the shove Itsl; if I tail to select a different admtnletratot within the twenty (20}-day period, you will seleot one. to art ogees, o party who has asserted a Clalntln a lawsuit in oourt may elect arbitration with respect to any Cfa1m(s) subsequently asserted in that lawdult by any ocher party or parties. 1F ARB1Ti2ATION fS GHOSEN BY ANY PARTY WITH RliSPBGT TO A CLAIM, NfitTHSti YOU NOR 1 WILL HAVE THE RIQHT TO LiTIQATti THAT CLAIM IN COURT OR HAVB A JURY TRIAL ON THAT CLAIM, OR TO ENQAQE IN PR£-AR131TRATION DIt3COVERY FJCGEPT AS PROVIDED FOR IN TH1= APPLICAHL.t? ARBRRATION RULES. PURTHHR, I WILL NOT HAVE THE RIGHT TO PARTiGIPATt3 AS A RHPRESENTA7IVE OR MizMBFiR OF ANY Cl.ASt3 OP Ct.AfMAIJTB PliRTA1NING TO ANY GLAfM SUB,IEC"I' TO ARBITRATION. IXCEPT AS SET FORTH t3ELOW, THE ARBiTflATOR't3 DEg8fON WILL B1= FiNAt. AND 61NDINQ. !UNDERSTAND THAT OTHER A1GttTe THAT t WOULD HAV61P 1 WENT TO COUFi7 MAY ALSO NOT BF AVAlLABLt3 !N ARBITRATION. 7NE FEES CHARQEO BY TNfi ARI317RATION At7MIN13'CRA70R MAY 8E GRHATER 7HAN THB PEPS CHARGED BY A COURT. There ehali be no authority for any Ctalme to be arbitrated on a Baas action basis. Furthermore! an arbllYaHon carr only decide Your or my Claim(s) and may not conso{idate or }oin the claims of other persons that may have simltar f:lafms. T ere shall bo no prv-arbitration dfscavery except as provided fa in the applicable A bitra~orr Rotes. Any arbitration hearing that ! attend shall fake place (n the feder~ judici~ distrtot of my residence. At my written request, you will pay all tees up to $100.00 charged by the arbitration admrnletrator for any Clelm(s) asserted by me in the arbitration, after t have paid an amount equivalent fo rite fee, tf any, for filing such Claim(s) in state or federal court {whichever Is leas) in the judicial dlstrlot In~whlch I reside. (tf I have already paid a flling fee for asaerUng the Cta1m(a) in court, I will not be required to pay that amcunt again.) If l am required to pay any fees in exoass of $100.00 to the arblitaUorr administrator ('addidonel fees'). you will aottafder a request by me to pay all or part o1 the edditlortal fees. To the extent that you do not apprava my request, the Arbitrator tvtll decide whether you of f will be responsible fa. paying any such addttlonal fees. If the arbitrator issues an award in your favor. i will not ba required to reimburDS you-for any of the fees you have previously paid to the ndmrnlslretot or for which you are responsible. Each party shat) beer the expense of Ihai party's aftorneys', experts', and vritrtess fees'. regardless of which par[y prevails in the arbitration, unless epplrcabte law and/or Ih)s Note gives a party the right to recove- any of those tees from the other party. Thla Athltration Provision to madQ pursuant to a transandon invdvfng interstate commerce, and shall be governed by the Federal Arbitration Act ('FAA"), 9 U.S.G. Sections f et seq: The arbitrator shall apply applicable substanlrve law consistent with the FAA and applicable statutes of limitations and ahaU honor olaims of privilege recognized at law [and, at the timely request o1 any party, shall provide a briar wrltken explanation of the basis for the award). In conducting the arbitration proceeding, the arbitrator shag not apply fire federal ar any state rules of civil procedure: or rules of evidence. Judgment upon the award rendered by the arbitrator maybe entered in any court haurng jurisdicliolt. The arb(trator'a deelaion will 6o fine! and binding, except for - any right of appoaf provided bjr the FAA end except !fiat, ff Ure amount in controversy exc"cds $10,000.00, any party can appeal the award to a Ihrae•arbitrator panel adminlstored by the arbitration administrator which shalt recans(der de Rove (1. e., without regard to the original arbibatar's Mdinga) any aepoct of the initial award requested by the appealing party. The declafon of thB panel shall be by majority veto. The costs of such an appeal wilt bs borne by rho appaagng party regasdlosu of the outcome of the appeal. You and 1 shall keep con(rdential any decision of err arbitrator made with respect to any Claim(s) arbitrated under this Arbitration provision and, wish lire exoepUon of disclosure to your o[ my attaReys, accountants, audltore, and other legs! or financial advisors, shat) not disclose such derision to any other person. This Arbitration Provision shall sunr(ve terminagon of this Note or any P(lor Promissory Note, as welt as the repayment d all amounts payable b you unde- the terms of ibis Note or any Prior Promissory Note. If any portion of Ibis Arbltratlon Provfalon to dearrtad Invalid a unenforceable under any law or statute conslstant with the FAA, it shall not invalidate rho romaining portions of thla ArbibaQon Provision or the Note. In the avant of a chattier or Inoonsistenoy between the applicable ArbltraUon Rutee and thta Arbitration Provision, (fits ArblhaGon Provision shall govern. ConteoUng Arbltrattari Administrators if I have a question- about the arbitratlon adminletralore mentioned In this Arbitration Provision or would I&e to obtain a copy of their Arbitration Rules or ice schedules, (oen contact ahem as follows: American Arbitration Aaeoofatlon, 25050 Country Club Boulevard, Suite 200, North Qlmstead, Ohio A4070, www.adr.org. {800) SB1-4741, Arbitration Rules for the Aesoiution of Consumer-Related Disputes (applicable to requests for arbitration filed by a oonsumer involving a olaim under $10,000) or Commernial Arbitration Rules (for all other Balms); J.A.M.t3/i:ndispute, 222 Scuth Rlverstde Plaza, Suite 1850, Chkago, f~ 60t-06, wwW.jants-endispute.oom, (800} 552-5207, Financial Services Arbitration Aulas and Prooedures; Natiopal Arbitration Forum, P,O. Box 50191, Minneapolis, MN titiA05, wtivrv.arbibation-forum.oom, (800j d7d-2371, Code of procedure. S, ADDITIONAL AQRE>;MI;iVT3 1. Uso of Loan Proceeds - I will use tlto proceeds of any Loan subject to the farms of ihls Note only for my educational expenses (i) ai an eligible tnalltuHon a (II) refaUag to the Lean Program. The oo•borrowar {unless 1 am shrdent fa whose educational expenses rite Loan is obtained) ornerier cosigner, if any, will not ra.:a{va any of the L;;an proceeds. I authorize you, at your option, to disburse the proceeds of my Loan directly to the Insdtutlon that 1 designate or to me In pertodio disbursements. The institution is my agent for the purpose of receiving the proceeds of such Loan. For purposes o1 paragraph R.f. 'I', 'Wva', and "my' refer only to the borrower. 2. CancelleUon o1 Disbursements - if I am net satisfsed whit the terrna of eaoh disbursement as approved, t may cancel such diaiwtaomenL To oancd the dsabursernent, 1 wilt return the disbursement check not cashed io you within thirty (30) days after the Disbursement Uale. If the dislwrsement was sent to the Institution or outer third party, 1 will instruct the InaUtuUat or aUlhorfr:ed party to return the disbursement prooeeds to you within this thirty (30}-day period. My timely oanceliation'of adisbursement will not terminals my obligations under this Note unless Ure cancelled dlsbtx9amont Is the frrat and only disbursement made under the terms of Ihts Note. ' ' 3. Obllgatfona of Mlnota - I understand that I must repay this Note though 1 may be under efgfttaen (18) years otagewhen this Note is signed. 4. Par Het Payments; No Waiver of Rights - My responsibility for payinlj any Loan subject to the terrna of thle Note is unattActed by the Itebillty of any other person to me or by your failure to notify me !fiat a required payment has not boon made. Without foeing any otyout dghta under this Note, you may acoaptlate or partid payments. agree nat to send payments marked 'paid in full', '4rtthout reoourae', or with other restrictions unless they are marked for special handling and sent to: Great !.ekes Educational Loan Services, Ina., Cash Operations, P.O. Box 2992, tulitwaukeo, WI 53201-2952. you may delay, or tail to exerctasa, or waive any o! your rlgltIs on any oocesion vrfthout losing your enUUement to exercise the right at any future time or on any future occasion. You will not be obtlgated to make any demand upon me, send me Fcttsvo(aa/ar} COSIGNER COPY any notices, preaarrt this Note to me for payment or make protest of nonpayment to me befc~ire 6riiTrg to collect on this Note if f am in default, and to tiro extent petmltled by applicable law, I hereby waive any right i might othetwfae have to require such soGons. 8. Qovorning l.a-v; Choice of f=orum-t understand and agresthat () you are located In Ohio, (il) that Ihis Note will be entered into In Ohlo and (tti) That your decision an whether to fend me money will be made In Ohlo. CONSt±gUENTLY, TNS PROVISIONS 4F THIS NOTE WILL. t3E dOVEAtJEU 8Y F>=DERAL 1~W6 AND 7Hti LAWS OF THE STATE OF OHIO, t1Y1THOtJT REQARD TO CONFLICT OF LAWS RULt?9. i agree that any suit I bring against you (or against any subsequent holder of this ]`tote) must be brought to a court of competent jutlsdiction in the county in which you matntaln your (or the bounty in wh[ch the aubsequant hddar mainta9ns its) principal piQCe of business. .t3. Assignment - I may not• assign ihls Note or any of its benofita of obllgatlons. You may assign this Noto a$ any tlme. 7. Entire Agreement -The terms and candltlons set taut Jn lttis Notesa oonstltula the endre agreement between you and me. ' e. ModiBoationa • All or any provision M this Note may be modified only if jointly agreed upon in witting by you and me, Any moddicatlon w111 not affect the validity or enforceability of lho cemaindet Gf any) 01 this Note. If all of my Loans subject to the terms of Ilrls Note are consalldated under the terms of a new master student loan promissay note retadng to roans obtained under the Loam Program that I have signed, such now notvwAt supsraodo a,d reptaoo this Notes. 8. Severabillly - tf any provision of lhls Note Is held Invalid or unenforceable, Ihat provision shall be considered omitted from this Nde without effecting the valldlly er enforceability of the remainder of brie Note. 10. Joint and Indtvldud LJabllity -1f more than one person signs this Note, l agree to be fully rasponsibta for payment of title Nets, and you may collect from me wllhout trying to collect from other etgnars. You can wclend or change the terms of payment and release any security wllhoutnotfiying me or releas)ng mefrom myresponsibility on this -Nuts. - ~. - _....,.,, ~.___..,...-~ .... .. _--_---_ ._ .. ... ,.-. 11. Loan Charges - if the charges on any Loan subject to the terms of this Note exceed the srnount permitted to be charged by rho law that governs this Note, then such charges will be reduced to such permitted amount and any excess already collected will ha appltad as pettiest prepayment of princlpoJ. ?'. IV1`f GER'iTF1GATiON I deciara under penalty of per(ury under the laws of the Unltad States of llmeriea that the idiowing fa true and correct I certify that the Information contained or included In my Appflcation tot any Doan subject to the terms of Ihls Note is true, complete, curd correct to the best of my knowledge and belief and is made In goad faith. I, oleo, certify that the proceeds of any such Loan will be used for educatlonal expenses and/or other expenses relating to the Loran Program, l authatze any insdtudon that I (or ff I am not th© student, the student} may attend to release to fire tender, subsequent hddar, or Ihe1r agents, any requasied Information pertinent to any Loan aubJect to the terms of rhia Notes (e.g., employment, enrdlmertt etahrs, prior loon history, currant address). I give you permission to request information from rte and to make whatever Inquiries you consider neoeseary ,and appropriate (Induding requesting and obtaLt(ng a consumer report from consumer rQporting agendas) in considering granting euoh loan ~'~~ 2 0 2004 or disbursements under such Loan and for Iha purpose of any updates, renewals, or extenalone of euoh Loan, revle~ving or cotlectlon of my Loan, or for any other fa~vful purpose. i also authorize thee lender, subsequent holder or theft agents to check my cxedlt and employment history and b answer queadons about ttteir credit experience with me. t also author(ze the lender, subsequent holder, Inadtudon, or their B9ent(s) to make inquires or to respond to Enquiries from my (or, ii I am not the student, the student's) parents of prior or subsequent tenders or holders with respect to Ihls Noto and rel2tod documents. For Tito purpose of teaming my current address and telephone number, I authorize the lender, subsequent holder, or their aganis to release intom'tatlon mrd make Inquiries to the individuals (have tteted on my Applloadon as references, I suthorize my fonder, subsequent holder or their agents to advlas my lnetitutlon of the status of my Application or of any such Loan. 1 may ask you or a subsequent holder to ohanga the date of disbursement K the Educational Institutlon requires drfferent payments, 1, turtirer authorize any lender o< any holder of my outstanding educational !vans to retsase any irrfama[ion on any of my outstanding educatloneJ loans to any other lender or holder of any of my other eciueational teens, I understand that I must 1mmr:diately repay any funds that I receive drat cannot reasonably be atblbuted fo meetlng my «iucational expenses related 1o attendance at en eligible Institution and/or other expanses retesting to the Loran Program. At my lender's option, !understand that my tender may electronically hansmit funds to rho Institution to be applied to my (cx, ff I am not the student, Ihp student's) aooount upon my authorization. I authartzo my tender to issue B check made payable to ma (a, if I am not the etudenl, the student), or jdntly payable to the Insd/utfort and me (or, if [ am not the student, Tire student), and send It b the InstltuHon. t acknowledge ffiat the lender, any subsequent Irdder or Ihsir agents do not in any way endorao, promote or make any representations concetnbrg any school, including but not finrfted t~ the echoer listed fn this AppllcatlorrlMastat Sludanl Moan Promisaoty Note, tt i9 my (our) responelbility b determine lire quality of rho achoof as well as ifs ftnanefal auditor. t certtty that! am (and that; If) am notthe atudant, the eWd~rr~ia},eJtgj~telor;partiplpaiion~ ' 'iri~ ihd"Coati • Piograni 'an~~'llrat~l undarslend the provlslons of !hies Note and my responsiblUtlea and my ri~irts under the Loan Program.! also certify that i have noifllsd for banktvptayin the past seven years. Key Bank UeA, National A3socisiton 8y: Daly) R. Leak , 3antor Vice President 127 Publlo Squnre, Cfevefarrd, Ohio 44114-1306 For the coalgnor. I understand end acknowledge that by slgn(ng this ApplicadonJMaster 8tudsnt Loan Promissory Note I agree tv pay to you all the etnounls fisted fn Paragraph 8 test rho Fret Loan and ail subsequent Loans subject to the terr»s of the Master Student Loarr Pron>;ssory Note. guts have read the Master Student Loan Pramlaeory Note, including at! slate larw notices, borrower certification and ca8igner notlcea, f< applloable, attached to this Apptlca6orUMaster tihrdent Loan Promissory Noie. I (we) promise to pay Jdntly and savetatly with the odrer signers below, to dro fonder or any other holder of this loan all sums tSlahursed under fire farms of this Appflcationfthaster Student Loan Promissory Note, plus interest and alt other charges, which may become due a9 pravfded by the Master 8tudont Coen Aromiseay Note. 7tre terms and condltlons sat forth in this ApplioatlonlMaster Student Loan Promissory Noto constltuto the entlre agreement beNraen you end melua. flute declare that the Infomnation provided is true and camptote to the best of mylour knowledge and bells!. CAUTION • IT IS IMPORTAiYt' THAT I THOROUQHLY READ THE COi~FTRAC7 BEFORE 181 GN IT. ' NOTICE TD CONsUMhR/CUSTOMi'_R: (a) t WILL NOTBIQN THEE AGREEMENT/NOTE BLF©RE t READ IT (EVEN IF OTHERWtt3E ADVISED). , (b~ i WILL tyt?TSliQtY THES AQRE~Ml±NT11~OTE IF IT CONj,AlNS AtVY BLANECSAgCt;S. _ __ __ ,_ .~..... , ., _. ~ - -~ -„-- Y-- --.- •- - '(~) I1~M );NTRLED TO AN D{lkCT COPY O!+ ANY AQREEMENT ] 61GN. ' (ci;t i tiAVE'TNE i~iCiH~' A7 ANY TIME Tt] !'AY IN ADVANt:E 7ilE UNf'AiD BALANCE DUE UNDEA THIS AQRIrEMEN [/NOTE WITHOUT PkNALTY. (e)1 UNDI:HBTANn THAT THE MASTeR sTUDPNT LOAN PROMt8SOHY NOTE goVERNINCi MY LOAN CONTAINS AN ARBITRATION PROVISION UNDER WHICH CERTAIN DISPUTES (AS DESCRIBER 1N THE ARetTRATION PAOVlSION) B>;TWEEN ME ANDYOU AND(OR CERTAIN OTHER PARTIES WiLL 8E RESOLVED HY BINblIVG ARBITRATION, IF ELECTED 8Y ME OR YOU OR CERTAIN OTHER PARTIES. IF A DISPUTE IS ARBITRA7>=D, THE PARTIES WILL NOT HAVE THE OPpOAl'UNtTY TO HAVE A JUDQE OR JURY RESOLVE tT AND OTH>;R iilAHTB MAY BE BUBST'ANTIALLY LIMITED. I acknowledge that I hat.~e revalued A copy of the Mrrater Stadant Loan Promissory Noto, Notices and all Cealgner NottcAS. Barrower:lignatura ~ ~~ 2 ~ n 183-t3s-7483 AAo tyD /Year 8ootel Securlly umber Cosigner8ignature 2i 1-18,2919 Mont a r 8aofal Security Number 4AUFORNIAAND IOWA RBSIQI?fJTs WI'iH A Ct33IQNER: You muetread and s(gn the cosigner notif)cation page. Married Wleconeln Rasldenta: The fender is required b ack married residents of Wisconsin applying for an Individual loan or a Joint form vdlh eomeane wha is not theft spouse to give us the name and address of their spouse. Please provtds thatinformatlon and have your spouse sign below. hlanne: Address: Wisconsin Spouaal Consent Signature Sign and mailApplfcutlon to; KeyAlfernative Loarr, cJo Great Lakes, P.O. Box i 82738, Cofumbua, OH 43218-2738 YOU MUST AETUAN ALL PAQE3 OF THE SiQNED APPt.ICATION/PROMIt380RYtiOTE po~-gtoQ/og UIiIGINAt. COPY