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HomeMy WebLinkAbout11-3396MARO & MARO, P.C. By: Robert A. Maro, Esquire Attorney I.D. No.: 89585 1115 West Main Street Norristown, PA 19401 (610) 275-9600 f°w; s J I'LA10 COUNTY IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA RE: Joint Petition of J.G. Wentworth NO: , l ?3??Ly yi Originations, LLC and Wendell Myers, Sr. 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, J.G. Wentworth Originations, LLC, by and through its attorneys, Maro & Maro, P.C., and joint petitioner, Wendell Myers, Sr., and in accordance with the applicable rules of Pennsylvania Civil Procedure, hereby represents as follows: 1. Petitioner is J.G. Wentworth Originations, LLC. ("Buyer" or Transferee"), with an office address located at 40 Morris Avenue, Bryn Mawr, Pennsylvania, 19010. 2. Joint Petitioner is, Wendell Myers, Sr. ("Payee"), an adult individual who resides at 6720 Rice Rd, Shippensburg, PA 17257. 3. This Joint Petition has been verified by the Transferee, J.G. Wentworth Originations, 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. arv $q?. co t?! al C'k-?*4P-VV2 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, J.G. Wentworth Originations, LLC.; and d. PA. R.C.P. 229.2(d)(3)(iv) A Final Order of Court Granting he Petition. 5. Joint Petitioner, Wendell Myers, Sr., is the beneficiary of an annuity owned by AEGON Assignment Corporation and issued by Monumental Life Insurance Company. The structured settlement provides payment to the petitioner as described on Attachment/Exhibit "2". 6. Joint Petitioner, Wendell Myers, Sr., after having the opportunity to have this matter reviewed by independent counsel of his own choosing including the implications of the transfer and any tax ramifications, expressly waived his right to independent counsel. A Copy of Joint petitioner's waiver is attached hereto, incorporated herein and marked Attachment/Exhibit "3". 7. Joint Petitioner, Wendell Myers, Sr., proposes to enter into a purchase agreement with J.G. Wentworth Originations, 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) 120 monthly payments of $302.11 each, beginning on June 1, 2011 and ending on May 1, 2021 8. The structured settlement is currently owned by AEGON Assignment Corporation and issued by Monumental Life Insurance Company, and the net amount in return payable to Wendell Myers, Sr. is $16,200.00 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 $16,200.00. 10. Based on the net amount that the payee will receive from this transaction $16,200.00 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 19.84% per year. 11. The Buyer furnished Wendell Myers, Sr. 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 Wendell Myers, Sr. 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 is currently married and has one (1) minor child, Shannon, Age 16) who resides with Mr. Myers and his wife. Mr. Myers has never transferred payments under his annuity in the past. Mr. Myers is currently employed. The purpose of this partial transfer is to assist Mr. Myers and his family with staying current on there home mortgage and with purchasing a reliable used vehicle, all of which will be expanded upon at the time of trial. Based upon the foregoing and the evidence to be presented at the time of hearing the transfer is clearly within the best interest of Mr. Myers. 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. Maro & Maro, P.C. By. PULU111Cy 1V1 1 FdjjNjCiee VERIFICATION I, Lori Borowski, Vice President of JG Wentworth Originations, LLC, have read the foregoing Petition to Transfer Structured Settlement Payment Rights between J.G. Wentworth Originations, LLC and U, I fiY,J.c l? 5, Sr_ 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. r-Y-41- f6jrmo e?'- Lori Borowski, VP I - - Ci - ).o ? \ Date CERTIFICATION OF ATTORNEY FOR TRANSFEREE I, Robert A. Maro, Esquire, attorney for Transferee, J.G. Wentworth 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, J.G. Wentworth 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. 5-'M-0 Date Attorney for Transferee, J.G. Wentworth 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 J.G. Wentworth NO: Originations, LLC and Wendell Myers, Sr. 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 : To: Monumental Life Insurance Company Attn. Structured Settlements/Legal Dept. 4333 Edgewood Road NE Cedar Rapids, IA 52499 J.G. Wentworth Originations, LLC 40 Morris Avenue Bryn Mawr, PA 19010 AEGON Assignment Corporation Attn. Structured Settlements/Legal Dept. 4333 Edgewood Road NE Cedar Rapids, IA 52499 Date: ?'q ` (I By: Wendell Myers, Sr. 6720 Rice Rd Shippensburg, PA 1 Fobert A. Maro, Esquire Attorney for J.G. Wentworth 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 JG Wentworth NO: Originations, LLC and Wendell Myers, Sr. Entry of Appearance TO THE PROTHONOTARY/CLERK OF SAID COURT Enter my appearance on behalf of: JG Wentworth Originations, LLC. Papers may be served at the address set forth below. Respectfully Submitted: Maro & Maro, P.C. By: A. Maro, Esquire y 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 "I" Mar 23 11 03:38p Hope Gulloy 7177666860 p,17 Payee's Affidavit in Support of Petition to Transfer Structured Settlement Rights t, Wendell Myers, Sr., the payee, verify that the statements below are true and correct: Payee's name, address and age: Wendell Myers, Sr., 6720 Rice Rd, Shippensburg, PA 17257.47. 1. Marital Status: Never Married; X Married; Separated; Divorced if married or separated, name of spouse: Donna 2 Minor Children and other dependents:: Names, ages, and places of residence: Shannon Myers, 16, lives with parents at 6720 Rice Rd, Shippensburg, PA 17257 3. Income: Payee's monthly income and sources I am currently working. 4. Child support, alimony or alimony pendente lite: Obligation to pay: Yes X No If yes, state the amount of the obliption. to whom payable, and whether there are arrearages: none 5. Previous transfers: Have you previously tiled 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 Mar 2311 03:38p Hope Culley 7177666860 p.18 court approved or disapproved the transfer. If the transfer was approved, (b) 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 6. Reasons for transfer. 1 want to ensure that I remain current on my mortgage, and to purchase a vehicle. 7. 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 Mar 2311 03:38p Hope Culley Verificatiols 7177666860 p.19 1 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. §4944, relating to unsworn falsification to authorities. DATED:_ ?`?7j'ZC11 Wendell Myers, Sr_ ATTACHMENT/EXHIBIT "2" Jul 17 09 03:39p Megan Myers 7175327970 p.1 MONUMENTAL LIFE INSURANCE COMPANY A Stock Company (Hereafter called: We, Our or Us) Home office: Baltimore, Maryland Administrative Office: 400 W. Market Street, Louisville, KY 40202 (800) 866-0002 Our AMuity Agreement (the Contract we will pay, subject to the conditio nd limitations of this contract, the Annuity payments to the Payee if he or she is on the ayment Date. We will make these payments in accordance with the escriptio f uity Payments as shown in this contract. We issue this contract in consideration of the premium paid. Our Company and You, the owner, are bound by the conditio and provisi f is contract. Right to. Return Your Contract you may cancel this contract by returning it within 10 days of receipt. Return it to Our Administrative Office or the agent through whom it was purchased. We will refund any premium paid less any Annuity Payments made- We will consider the' policy void from the beginning. Signed for us at our home office. Secretary President This contract is a legal contract between the Owner and the Company. READ YOUR POLICY CAREFULLY Single Premium Immediate Annuity Non-Participating ASI232 8 298 Jul 17 09 03:44p Megan Myers DEFINITIONS 7175327970 p.1 This section contains the standard meaning of terms used in Your contract. ANNUITANT The "Annuitant" is the person upon whose life the annuity payments are based. ANNUITY PAYMENTS Annuity Payments will be made to the Payee. We may require evidence that any Annuitant and/or Payee are alive on the due date of each Annuity Payment. BENEFICIARY The "Beneficiary' is the person or persons to whom We will pay a death benefit or other . guaranteed payments, if any, when the Annuitant (last Annuitant if Joint & Survivor Annuity Payments) dies. FIRST PAYMENT DATE The First Payment Date is the date the first payment is due. ISSUE AGE "Issue Age" is the Annuitant's age nearest birthday on the Issue Date. ISSUE DATE The date on which the premium paid is applied and the contract becomes effective. OWNER "You", "Your", and "Yours", the Owner, are named on page 3.• You may, while any Annuitant is living, exercise all rights granted by this contract. PAYEE The person to whom We will pay the Annuity Payments described herein. WRITTEN[ NOTICE "Written Notice" is a request or notice in writing by You to Us at Our Administrative Office. It is how You notify Us of any requests You may have, or changes You may want to make to Your contract. AS1232 8 298 5 Jul 17 09 03:44p Megan Myers 7175327970 p,2 BENEFICIARY The Beneficiary is named on page 3 of the contract. More than one beneficiary may be named. The rights of any Beneficiary will be subject to all the provisions of this contract. You may impose other limtacions with Our consent. If any primary or contingent Beneficiary dies before the Annuitant, that Beneficiary's interest in this policy ends with that Beneficiary's death. Only those Beneficiaries living at the time of the Annuitant's death will be eligible to receive their share of the death benefits. In the event no contingent Beneficiaries have been named and all primary Beneficiaries have died before the death benefits become payable, the Owner(s) will become the Beneficiary(ies) unless elected otherwise. If both primary and contingent Beneficiaries have been named, payment will be made to the named primary Beneficiaries living at the time the death proceeds become payable. If there is more than one Beneficiary and You failed to specify their interest, they will share equally. Payment will be made to the named contingent Beneficiary(ies) only if all primary Beneficiaries have died before the death benefits?become payable. If any primary Beneficiary is alive at the. time the death benefits become payable, but dies before receiving their payment, their share will be paid to their estate. OWNER You, the Owner, are named on page 3 of the contract. You may, while any Annuitant is living, exercise all rights granted by this policy. These rights are subject to the rights of any assignee or living irrevocable Beneficiary. "Irrevocable" means that You have given up Your right to change the Beneficiary named. If You die, the rights of Ownership will vest in the executors, administrators or assigns of the Owner. Unless we have been notified of a community or marital. property interest in this policy, we will rely on our good faith belief that no such interest exists and will assume no responsibility for inquiry. AS 1232 8 298 Jul 17 09 03:41p Megan Myers THE CONTRACT 7175327970 p.1 Your contract is a legal contract between You and Us.. Certain provisions are standard. This section gives these provisions and explains hour they can affect Your policy. ENTIRE CONTRACT The entire contract is made up of this contract, any riders or endorsements, and any application or information provided ' 'eu thereof. INCONTESTABILITY This c tact is incontestable from the Issue Date. MISSTATEMENT OF SEX OR AGE If the age or sex of A uitant been misstated, the Annuity Payimen a tho e h the premium paid would have purchased for th ct age and sex. Any underpayment made by Us " be paid t next Annuity Payment. Any overr yment mad 's will be deducted from future Annuity Payments. NON-PARTICIPATING Your contract is non-participating. This means We do not pay dividends on it, Your contract will not share in Our profits or surplus earnings.. ANNUITY PAYMENTS Beginning, on the First Payment Date, We will pay the Annuity Payments described herein. The Annuitant, Payee, and/or Beneficiary under this contract do not have the right to change the Annuity Payments. NUMBER OF'.PAYEES We reserve the right to refuse an Owner's request to make changes to the number of Payees listed on page 3 of the contract. ASf232 8 299 6 Jul 17 09 03:41p Megan Myers 7175327970 p.2 MONUMENTAL LIFE INSURANCE COMPANY A Stock Company= (Hereafter called: We, Our or Us) Home Office: Baltimore, -Maryland Administrative Office: 400 W. Market Street, Louisville, KY 40202 (800) 866-0002 Our Annuity Agreement (the We will pay, subject to the conditio nd limitations of this contract, the Annuity Payments to the Payee if he or she is on the FA? I yment Date. We will make these payments in accordance with the escriptio uity.Payrnents as shown in this contract. D We issue this contract in consideration of the premium paid. Our Company and You, the Owner, are bound by the conditio PD provis f this contract. Right to Return Your Contract You may cancel this contract by returning it within 10 days of receipt.v Return it to Our Administrative Office or the agent through whom it was purchased. We will refund any premium paid less any Annuity Payments made. We will consider the policy void from the beginning. Signed for us at our home office. Secretary President This contract is a legal contract between the Owner and the Company. READ YOUR POLICY CAREFULLY Single `Premium Immediate Annuity Non»Parddp$ting ASt232 8' 298 Jul 17 09 03:41p Megan Myers 7175327970 p.3 Description of Annuity Payments Beginning on the First Payment Date, We will make the following payments to the Payee if the Annuitant is living on the First Payment Date: $302.11 monthly for 30 years certain and life beginning on November 01, 2000. We will continue to pay this amount monthly during the Annuitant's lifetime. The final ment will be made on October 01, 2030 (that is the last guarant ent date), or on the scheduled payment date immediately p to the Annuitant's death, whichever is later. If the Annuitant dies prior to the last guarant p ent dace, We will pay any remaining guaranteed payments, as they b due, t ysshave eneficiary when We receive due proof of the Annuitant's death. No additional amount is payable after all guaranteed paym bee made. The Annuitant, Payee, and/or Beneficiary under this policy de not have the r t to revise the benefit payments. These payments may not be accelerated, deferred, increased or decreased. They may not be anticipated, sold, assigned or encumbered. The Annuitant, Payee, and/or Beneficiary may not assign any payments under the contract before the same are due. To the extent permitted by law, no payments under this contract w-HI be subject to the claims of creditors of any payee. THIS POLICY MAY NOT BE SURRENDERED ASI232 8 298 Jul 17 09 03;43p Megan Myers 7175327970 p.1 CHANGE OF BENEFICIARY You may change the Beneficiary, unless an irrevocable one has been named, while the Annuitant is living. Change is made by Written :Notice. The change takes effect on the date the Written Notice was signed, and the Written Notice trust have been postmarked on or before the date of the Annuitant's death. No change will apply to any y Payment made before the Written Notice was r ed. Any cha subje o of Our actions made before the date Your notice as nowledged. We may require return of this contra dorse efore making a change. RESERVES The reserves held by Us for this contract shall n less than the minimum required by the laws and regu ons of the state in which this contract is delivered. ASI232 8 298 8 ATTACHMENT/EXHIBIT 6(39) Mar 23 11 03:36p Hope Culley 7177666860 p.12 Account ID: 423052 Please complete and sign. STAUMENT OF PROFESSIONAL REM6§ U&=N Please Choose Either Box, A OR pox B BSIM After you have made your choice, SIGN AND DATE the appropriate box Signature line. YOU SHOULD SIGN ONLY ONE B02j - THE BOX YOU HAVE CHOSEN. A. I HAVE BEEN ADVISED BY J.G. WENTWORTH ORIGINATIONS, LLC (KJGW") THAT I SHOULD OBTAIN INDEPENDENT PROFESSIONAL REPRESENTATION CONCERNING THE LEGAL, TAX ANDIOR FINANCIAL IMPLICATIONS OF THIS TRANSACTION. I FULLY UNDERSTAND TBE PURCHASE AGREEMENT AND THE IMPLICATIONS OF THE TRANSFER, INCLUDING THE TAX RAMIFICATIONS OF THE TRANSFER AND I DO Wff WISH TO.&V?i, ,,OUT SUCH INDEPENDENT PROFESSIONAL REPRESENTATION. a^ WENDELL K MYERS, SR. Date B. I HAVE OBTAINED INDEPENDENT REPRESENTATION AND I FULLY UNDERSTAND THE LEGAL, TAX AND/OR FINANCIAL IMPLICATIONS OF THE TRANSACTION, THE PURCHASE AGREEMENT AND TIIE° RELATED DOCUMENTS. I WAS NOT REFERRED TO MY PROFESSIONAL ADVISOR BY JGW. THE NAME OF MY PROFESSIONAL ADVISOR IS SET FORTH BELOW: WENDELL K MYMS, SIL Date To J9C Co>,yP "Cd By CerNfferdProfeaxwAw/AdrJsor 0A1y VYOX keys stud Box B Above Name of Professional: Phone Number: (__) Address: Attorney ID ## I have provided independent professional ad%i= to in mspoot Of the Purchase Contract with JGW and the transaction contefnpla/ed thereby. Wendell K MrM Sr. was referred to me by the Pro*wdonal's 5isnature Date ax ciL}wnn1cr a:.'.fNl9. !; tYLnt.n" Ui t)ri--l.lf:' ATTACHMENT/EXHIBIT "4" Mar 231103 *33p Hope Culley 7177666860 p.5 Acmes W: 423052 PURCHASE CONTRACT This is a Purchase Contract ("Contract") for the sale of structured settlement payments between Wendell K Myers, Sr. (You, Your), with legal residence at 6720 Rice Rd, Shippensburg, PA 17257 and J.G. Wentworth Originations, LLC (We, Us, Our) 3993 Howard Hughes Parkway, Suite 250, Las Vegas, NV 89169-6754. BACKGROUND A. In connection with the resolution of a personal injury claim, You or someone acting for You, signed a Settlement Agreement that entitles You to receive certain future payments ("Settlement Payments"), according to a set schedule. B. Those Settlement Payments are being paid to You from an annuity policy ("Annuity Policy") purchased by the person responsible for malting the Settlement Payments to you ("Obligor"). C. Rather than wait for the Settlement Payments to be made to You in the future, You want to sell all or some of those Settlement Payments. (``Purchased Payments") to Us now for a hump sum. DEFINED WORDS Certain words used in this Contract have specific meanings, shown below. Annuity Policy The policy purchased by the Obligor to ensure that the Settlement Payments are made to You as required by the Settlement Agreement. Closing Documents Any documents necessary to carry out the purchase of the Purchased Payments, other than the "Contract or Contract Documents" as defined below. Contract or Contract Documents Collectively, only this Contract and the Disclosure Statement. Contract Date The date Your signature at the end of this Contract is notarized. However, if You happen to sign this Contract before the number of days stated at the end of Your Disclosure Statement for waiting has passed, You will have no obligation under Your Contract until that time has passed. Court Order A legally binding ruling issued by a judge or properly empowered administrative officer, approving the sale of the Purchased Payments to Us (`Court Approval'). Disclosure Statement The document which, identifies for You, the Purchased Payments, expenses, Purchase Price and various other disclosures. Encumbrance Any claim, right, lien, policy loan, or restriction. In addition, this includes any limits on rights of ownership (such as the use, voting, transfer, receipt of income, etc.). Funding Date The date We pay You the Net Purchase Price. (saver The insurance company that issued the Annuity Policy. Obligor The Person who is obligated to make payments to You under the Settlement Agreement. Mar 2311 03:33p Hope Culley 7177666860 p.6 Awomta 421052 Party Person Purchased Payments Purchase Price: One of You or Us. Parties means both You and Us. Any natural person or legal entity. Only those certain payments that We are purchasing from You under this Contract. Gross Purchase Price The amount shown as the "gross amount payable to the seller (Youy' on the Disclosure Statement. This is the Sum We have agreed to pay You before any deductions as set forth in the Contract Documents. Net Purchase Price The amount shown as the "net amount payable to the seller (You)" on the Disclosure Statement. This is the sum We have agreed to pay You after any deductions as set forth in the Contract Documents. Settlement Agreement The agreement that You and the Obligor signed to resolve Your personal injury claim. Settlement Payments All of the payments that the Obligor has agreed to make to You in the Settlement Agreement. We, Oar, or CJs J.G. Wentworth Originations, LLC, along with any of its successors, assigns, and designees. Some of the Contract Documents or Closing Documents may refer to Us as the purchaser. You or Your The Person named on this Contract's first page. Some of the Contract Documents or Closing Documents may refer to You as the seller. You and We agree as follows. I . SALE gX-T " P. ° RCHAR2 P& NTS A. Upon the signing of this Contract and subject to certain conditions including Court Approval, You sell, transfer and assign to Us the right to receive the Purchased Payments specifically identified in the Disclosure Statement. B. We will pay You the Net Purchase Price as agreed to in the Contract Documents, subject to certain conditions, including meeting Our underwriting requirements, Court Approval and satisfactory completion of the Closing Documents. We will do this in exchange for You: • Selling the Purchased payments to (;s; • changing the beneficiary of the Annuity Policy to Your estate and not changing it again until We have been paid all of the Purchased Payments; • having any current beneficiaries waive their rights to the Purchased Payments; and • fulfilling Your promises under this Contract. 2. PURCHASE P tern A. The Gross and Net Purchase Prices are shown on the Disclosure Statement and are fair and acceptable to You and Us. B. We will pay You the Net Purchase Price in the manner You designate for Us. C. Before we pay You, You agree that We will adjust for the following amounts, JY&AWseaNe: Mar 23 11 03:33p Hope Culley 7177666860 p.7 AccowtID: 423052 • Purchased Payments Owed to Us - Tito Issuer may have already paid You some of the Purchased Payments before We have paid You for then. If that happens, We will deduct the amount of time Purchased Payments. • Boldbacln - Due to possible delays in the Issuer beginning to make the Purchased Payments to Us Instead of You, We will hold back an amount equal to any Purchased Payments that the Issuer owes You within 90 days of the Funding Date. If We subsequently receive then particular Purchased Payments directly, We will return the amount of any related holdback to You. • Payment of Debts Owed -If You owe any past due child support, bankruptcy payoffs or taxes, or have any judgments or liens against You or Your assets, We may pay those amounts and deduct them from the amount We pay You. We will first confirm those amounts with YON. D. If any Purchased Payments are mistakenly sent to You after we have paid You for them, You will Immediately contact Us. If we then determine that any deductions or holdbacks as set forth above are not enough to reimburse Us, We will advise You of the amount You owe Us. You agree to immediately send that amount to Us by bank or certified check. 3. R EN S WAR l You represent and warrant to Us the following: A. You understand that THIS IS A SALE AND NOT A LOAN. B. The Annuity Policy is in full force, You are the sole and undisputed recipient of the right to the Purchased Payments and have the right to sell theta, free and clear of any Encumbrances. C. You understand that Court Approval is required for this purchase; and You agree to fully cooperate with Us to obtain that approval. D. You gave Us all requested information and signed originals of all documents necessary to complete the purchase. Every statement made by You in the Contract Documents and Closing Documents is true and complete.. E. No law, divorce decree or other legal obstacle requires You to keep the Purchased Payments for the benefit of a current or formes' spouse, dependent children, or other person;, or • legally Prevents You from contracting with Us, selling the Purchased Payments or changing the Annuity Policy's beneficiary. F. Either. • You have never filed for bankruptcy, will not do so before the Funding Date and there are no lawsuits or efforts by any of Your creditors to put You into bankruptcy or take any of the Purchased Payments; or • If You filed for bankruptcy, the Purchased Payments were not subject to the claims of Your creditors. You will give Us a copy of any of Your bankruptcy documents that We request including evidence of a final bankruptcy payoff, ifsuch is the case. G. We can rely on Your representations, warranties, and promises in this Contract. These representations, warranties, and promises are for Our benefit and the benefit of any future owners ofthe Purchased Payments. You understand that any violation of Your representations or warranties may beau act of fraud by You sander applicable state law, which could result in You being hold responsible for damages is favor of Us, with money to be paid by You to Us. H_ You had enough time to consider the sale of the Purchased Payments, understand the terms of the Contract Documents and Closing Documents, are of legal contracting age and sound mind, not under the influence of drugs or alcohol„ and freely and voluntarily, enter into this Contract and agree to all of its tams. Mar 23 11 03:34p Hope Culley 7177666860 p.8 Aomat 1D: 423052 L You were advised by Us to obtain independent legal advice and professional tax advice about the sale ofthe Purchased Payments and to have those advisors review the terms and legal, tax and other effects of this Contract with You prior to Your execution of this ContracL You have also eutplottd all appropriate financial options before entering into this transaction. L We did not provide tax, financial, or legal advice to You about this Contract and have advised You that We may not refer You to any specific attorney for such purpose. K. If You are married, Your spouse understands all of the temps and conditions of this Contract including, but not limited to that You and Your spouse will not receive the same amount of money as You would receive under the Annuity Policy Payments, Your spouse gives up any property rights he or she may have in the Purchased Payments. L. We may sett, transfer, or assign Our right to the Purchased Payments in a sale, securitization, or other financing transaction (resale). Any resale would involve disclosing certain information about You (including Your personal information) to the parties to a resale. M. Any future owner of the right to the Purchased Payments will have all of the same rights We have and duties you owe Us under this Contract. This incindes the right to make a claim against You for violating any of the representations, warranties, or promises You made in this Contract 4. YOUR PROM)(,SES p US B623 red uhf fir Funding Date; A. You will tell us right away if Your address or telephone number changes and do everything necessary, including completing and signing all documents to: sell the right to the purchased Pavments to Us and change the beneficiary as required by this Contract; and • correct any documentation errors in the Contract Documents or Closing Documents. a. You will also tell Us if any of the following occurs: • a violation of this Contract; or • anything that could negatively affect the Annuity Policy, the Purchased Payments, or this Contract C. You will not- 0 agree to sell the Purchased Payments to any Person other than Us; • change the Annuity Policy's beneficiary to any Person other than Your estate until We have collected all of the Purchased Payments; or • withdraw cash from, borrow against, or change the Annuity Policy. D. You will give Us information necessary to update Your representations, warranties, and promises in this Contract You will also update any documents and information so they will be true and complete on the Funding Date. E. We are now, and will continue in the future, to rely on the representations and warranties You have given Us. We will confirm the accuracy of Your representations and warranties. You must cooperate with this confirmation and provide complete access to any information We believe necessary. F. You agree that updating representations, warranties, promises, documents and other information witl not cure it breach of any representation or warranty made by You that was not true and complete. G. You agree that Our liability to You trader this Contract is strictly limited to the requirement to pay You what We owe Mar 23 11 03:35p Hope Culley 7177666860 p.9 Aocountitl: 423052 You under the terms ofthis Contract, after receipt and approval of the Closing Documents, final underwriting approval and Court Approval. Under no circumstances will We be liable for anyconsequen ial damages. 5. IND iCATIOn You will pay Us for losses or damages We sufrer- A. If You do not comply with Your duties in this Contract. B. You failed to honor any promise You made in this Contract. C. Because any representation or warranty You made in this Contract was not true and complete. 6. CCM .t LATIQNQS We may cancel this Contract before the Funding Bate if A. You breach any representation, warranty, or promise in any Contract Documents or Closing Documents. B. The petition for the Court Order is contested, opposed, or not approved. C. We are sued or threatened with a lawsuit about this Contract or the Annuity Policy. D. There is any threatened, pending, or final action, or change in law or rule challenging the legality of, or negatively affecting this transaction. E. You file for, or are forced into bankruptcy. F. You die. G. Final approval has not been given by our underwriting department. H. The Purchase Contract is not signed by You and received bade by Us by April 25, 2011. I. A major rating agency downgrades the Issuer's credit rating. J. The Issuer is, or becomes insolvent, or under regulatory supervision. 7. CA14CELLATI-ON BY YOU A. (1) YOU MAY CANCEL THIS CONTRACT WITHOUT PENALTY OR FURTHER OBLIGATION AT ANY TIME WITHIN FIVE (5) BUSINESSDAYS AFTER THE DATE YOU RECEIVE PAYMENT HEREUNDER FROM US. IN ORDER FOR THE CANCELLATION TO BE EFFECTIVE, YOU MUST SEND A NOTICE POSTMARKED AT ANY TIME WITHIN FIVE BUSINESS DAYS AFTER YOU RECEIVE PAYMENT HEREUNDER FROM US (This is the rescission period). (2) YOUR NOTICE IS TO BE SENT EITHER BY CERTIFIED OR REGISTERED MAIL (RETURN RECEIPT REQUESTED) OR FEDEX OR ANOTHER MAJOR OVERNIGHT DELIVERY SERVICE. THE NOTICE MUST INCLUDE A BANK OR CERTIFIED CHECK MADE PAYABLE' TO US, IN THE FULL AMOUNT RECEIVED BY YOU. YOUR NOTICE MUST BE SENT TO: J.G. Wentworth Originations, LLC Attention: Manager of Operations 3993 Howard Hughes Parkway, Suite 250 Las Vegas, Nevada 89169-67S4 Mar 23 11 03:35p Hope Culley 7177666860 p.10 ACcoumtID. 423052 B. GEQRGIA RESIDENTS. YOU MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO 5.00 P.M. OF THE TWZNTY-FIRST DAY FOLLOWING RECEIPT OF THE ENCLOSED "NOTICE OF CANCELLATION RIGHTS" FORM, OR AT THE HEARING ON THE APPLICATION FOR AUTHORIZATION OF A TRANSFER OF STRUCTURED SETT LEMEPPI' PAYMENT RIGHTS, OR AT ANY TIME WIT'HM FIVE (5) BUSINESS DAYS AFTER YOU RECEIVE PAYMENT HEREUNDER FROM US, WHICHEVER EVENT OCCURS LAST (This Is the Georgia rescission period). IN ORDER FOR THE CANCELLATION TO BE AFFECTIVE, YOU MUST SIGN THE ENCLOSED "NOTICE OF CANCELLATION RIGHTS" FORM AND MAIL OR DELIVER IT TO US AS SPECIFIED IN THAT NOTICE. C. , : IN ORDER FOR YOUR CANCELLATION TO BE EFFECTIVE, YOUR NOTICE CAN BE SURMITTED VIA PHONE, MAIL, OR FACSUKME. ANY AMOUNTS ADVANCED BY US IN CONTEMPLATION OF THE TRANSFER SHALL BE IMMEDIATELY REFUNDED TO US. IF YOU DISMISS' YOUR ACTION AFTER APPOINTMENT OF A GUARDIAN AD LITEM, OR RIiscmD YOUR TRANSFER AGREEMENT (PURCHASE CONTRACT) WITHIN THE RESCISSION PERIOD IN 7(A) (1) ABOVE, YOU SHALL BE RESPONSIBLE FOR THE FILING FEE AND ANY GUARDIAN AD LITEM FEES. 8. NOTICES A. All notices about this Contract must be in writing. B. All notices must be sent either by. (1) certified or registered matt (return receipt mquested); or (2} FedEx or another major overnight delivery service and are considered given when delivered as follows: If to You: to Your address listed on the fast page of this Contract. If to Us: to the address listed in Section 7(A) (2) of this Contract.. 9. EVt•.1+TS OF DEFAULT You will be in default if You: A. fail to comply with any tmrrs or conditions of this Contract; or B. breach any of Your representations, warranties and promises in this Contract. If You are in default, We have the right to sue You in court to make You perform Yow promises or to get money from You. 10. MISCELLANEOUS A. We can do background checks on You, including from the credit bureaus, in order to verify your legal residence and other contact information. B. This Contract is the entire agreement between You and Us. C. Tf there is more then one of Us or You, this Contract applies to all of those people together, and to each of them on their own. D. Both Parties must agree in writing to any change to this Contract or waiver of its terms. E. If a court undoes any part of this Contract, the rest of the Contract remains valid. F. You cannot voluntarily or involuntarily sell, assign, or transfer this Contract, or any of Your riglift duties under this Contract. G. The law of the state of Your domicile (where You regularly reside on the Contract Date) will govern this Contract. The Parties must litigate any dispute arising under this Contract in that state's courts and the Parties agree to the jurisdiction of that state's corms. Mar 23 11 03:36p Hope Culley 7177666860 p.11 AoooM M.- 03052 H. This Contract also holds responsible Your heirs, and executors. This Contract benefits only You and Us and no one else. However, if permitted to be, and if properly assigned, this Contract will bind and benefit the respective successors and assigns of the Pales. 1. Failure to enforce any provision of this Contract is not a waives of that provision. • The Parties may sign this Contract in one or more counterparts. Each 00unterpart will be considered an original. All counterparts will form one Contract. K. We have investigated the proposed transfer of the Purchased Payments and, in light of information available to Us, have identified no violation of any applicable state or federal law. L. You will not receive an IRS Form 1699 from Us. M. Titles and headings in this Contract are for convenience only. Do not use them to interpret this Contract N. Except as otherwise set forth in this Contract, You and We will pay our respective costs and expenses in carrying out this Contract. You and We, intending to be legally bound, have signed this Contract as of the Contract Date below, and agree to all of its terms and conditions. By signing below, You also acknowledge that You were advised by Us in writing, that You shoal obtain independent legal advice and professional tax advice about the sale of the Purehased Payments and to have those advisors review with Yon, the terms and legal, tax and other effects or this Contract. Sworn to and subscribed before me tkis Q 3 day of Ora W 20i I ("Contract Date") Notary SELLER: Wendell R Sworn to and subscribed before afe chis nay or .? , 2010 Notary ?? NoortM ? l?._ uav. Alen ,ti, C a , t M3 SELLER'S SPOUSE (if applicable) US: J.G. Wentworth Origlnatlons, LLC BY: u Sam Gottesman, Underwriting Manager ?:ll)J J.(? 1t's?r.•..?flhi7"iSnt:,ligi,?. i..J_C Account ID: 423052 March 10, 2011 PENNSYLVANIA DISCLOSURE STATEMENT We will purchase the following payments (Purchased Payments) from You: A) 1 y (The remainder of the page intentionally left blank) -I - f AcmuntID: 423052 March 10, 2011 The aggregate amount of the Purchased Payments The discounted present value of the aggregate Purchase Payments at the federal interest rate of 3.00% is $31,214.86. The discounted present value is the calculation of the current value of the transferred structured settlement payments (Purchased Payments) under federal standards for valuing annuities. The gross amount payable to seller (You) is The net amount payable to the seller (You) w Legal fees (this is an estimate of what Your attorney will charge You if You choose not to waive representation): $500.00 No other expenses are incurred by You. The net amount that You will receive from Us in exchange for Your future structured settlement payments represents 51.90% of the estimated current value of the payments based upon the discounted value using the applicable federal rate. Based on the net amount that You will receive in payment from Us and the amounts and timing of the structured settlement payments that You are selling to Us, this is the equivalent of interest payments to PLEASE NOTE THAT THIS IS NOT A LOAN, BUT A SA + RIGHTS AND THE INTEREST FIGURE IS ONLY PROVIDED AS AN ILLUSTRATION OF THE ECONOMIC IMPACT OF THE SALE. 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. By signing below, You are confirming receipt of this Disclosure Statement at least 10 days prior to You first incurring an obligation with respect to the transfer agreement (Purchase Contract). A??-tw V, Vq4? ?X - WENDELL K MYERS, SR. * -2- 3009 J. i wenhvollh Orieinationt, t..t. C' Mar 23 11 03:37p Hope Culley 71 77666860 p.15 'AN UICE You are strongly urged to consult with an attorney who can advise you of the potential tax consequences of this transaction. Bys ?f k WENDELL K MYERS, SR. Sworn to and subscribed f cY o me thi da f c,?l , 201 PENNSYL ANIk Notary Hope 1:: Notwy Pum- Upper TWp., GUfnblftlW Cows: "i Epee Feb. 28, 2, N Hope L. W ? ry Pubk ?G?mDertand 28, ZM3 PennSNvada OF 1 -11tworth Origi,--mol, 111" ATTACHMENT/EXHIBIT "5" r J.G. Wentworth Originations, LLC Match 24, 2011 Monumental Life Insurance Company 4333 Edgewood Road NE Cedar Rapids, IA 52499 Attn: Legal Department/Structured Settlements AEGON Structured Settlements, Inc. 4333 Edgewood Road NE Cedar Rapids, IA 52499 Attn: Legal Department/Structured Settlements RE: Notice of Sale/Assignment of Payment Rights Your Contract #: Payee: Wendell Myers, Sr. SS #: 164-60-3353 Dear Insurer: Please be advised that J.G. Wentworth Originations, 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: J.G.-Wentworth Originations, 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, J.G. Wentworth Originations, LLC By: Lori Borowski, Vice President 3993 Howard Hughes Parkway • Suite 250 • Las Vegas, NV 89169-6754 PHONE: (800) 454-9368 • FAX: (215) 567-7525 • E-MAIL: JGWTGWFUNDING COM WEB SITE: WWW.JGWFUNDING.COM Reserved for Court Use. FILED- OFFICE OF THE PP.oTtf0j,-)07%ey coil APZ- s ALL: LO 61S &M6 .Cd . f A IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA nn RE: Joint Petition of J.G. Wentworth NO: iv;) -rexi in Originations, LLC and Wendell Myers, Sr. INITIAL ORDER OF COURT On this J5?Nay of 4&?t 2011, it is ordered that a hearing on this Petition to Transfer Structured Settlement Payment Rights will be held on 7 , 2011, in Courtroom A at 0, o f?.M o'clock. The payee shall bring income tax returns for the prior two (2) years to the hearing. Within seven (7) days, the transferee shall give notice of the hearing date to the payee, the structured settlement obligor, the annuity issuer, the payee's spouse and any person receiving child support, alimony, or alimony pendente lite. The transferee shall attach a certificate of service to the notice of hearing date. A copy of the notice with the certificate of service shall be filed with the court prior to the hearing. ? `k?ober?F A "OLCO, E"- P?l 00 BY THE COURT: C Maro &I Maro, P.C. By: Robert A. Maro, Esquire Attorney I.D. No.: 89585 1115 W. Main Street Norristown, PA 19401 (610) 27P-9600 Attorney for JG Wentworth fILED-OFFICE E PROTHONOTARY 2011 JUL -1 FM 2" 11 41 one 4*9"ANIA TY 114 THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA IN RE: Joint Petition of JG Wentworth NO: 2011-3396 Civil 'ginations, LLC and Wendell Myers, Sr. CERTIFICATE OF SERVICE I Robert A. Maro, Esquire, hereby certify that a true and correct copy of the Hearing Notice was served upon the following individual: Wendell Myers Jr. 649 North Franklin Street Chambersburg, PA 17201 copy of the Notice is attached hereto. Date: Ju#e 29, 2011 By: Robert A. Maro, Esquire Attorney for JG Wentworth Originations, LLC MAR & MARO, P.C. By: Ro bert A. Maro, Esquire Attorne y I.D. No.: 89585 1115 Test Main Street Norris wn, PA 19401. (610) 75-9600 114 THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA RE: Joint Petition of J.G. Wentworth NO: 1 C1 t, Originations, LLC and Wendell Myers, Sr. Rv NOTICE OF HEARING ON PETITION TO TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS i To: Monumental Life Insurance Company J.G. Wentworth Originations, LLC Attu. Structured Settlements/Legal Dept. 40 Morris Avenue 333 Edgewood Road NE Bryn Mawr, PA 19010 Cedar Rapids, IA 52499 ON Assignment Corporation Wendell Myers, Sr. Structured Settlements/Legal Dept. 6720 Rice Rd Edgewood Road NE Shippensburg, PA 17257 r Rapids, IA 52499 ou are hereby given notice that Wendell Myers, Sr. and J.G. Wentworth Originations, LLC has filed a petition to fer structured s lenient payment rights. A hearing in this matter has beer. scheduled on 2011 at Ac'lock in courtroom no. 2 . courthouse, Cumberland Co ty Court of Common Pleas, Pennsylvania. ou are entitled to support, oppose or otherwise respond to the payee's petition, either in person by counsel, by filing written comments with the court prior to the hearing or by attending the hearing. Name, Address and Tax Identification number of the transferee is J.G. Wentworth s, LLC. 40 Morris Avenue, Bryn Mawr, PA 19010, Tax I.D. No. 20-4728885. Date BY: Attorney for J.G. Wentworth Originations, LLC. 1115 W. Main Street Norristown, PA 19401 (610) 275-9600 (610) 275-9666(facsimile) ti n`s Q t for Court Use. i nE uumi, OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA RE: Joint Petition of J.G. Wentworth NO: Il • 515% 0,ivilTerw Originations, LLC and Wendell Myers, Sr. INITIAL ORDER OF COURT this -Q? day of Apr i 1 2011, it is ordered that a hearing on this Petition to Transfer Structured Settlement Payment Rights will be held o -Murgd % i . I - , 2011, in Courtroom 6_ at Q.- w A,µ o'clock The payee shall bring income tax returns for the prior two (2) years to the ithin seven (7) days, the transferee shall give notice of the hearing date to the payee, t?e structured settlement obligor, the annuity issuer, the payee's spouse and any person ?eceiving 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 of service shall be filed with the court prior to the hearing. BY THE COURT: Is. I ". L aJI J . 0?4.,L (a,zte P, I , aA 1 a-k Pa- ryy (- 11'4 'nil, t;VUK1'VF U0MMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA RE: Joint Petition of J.G. Wentworth NO. 11-3396 Originations, LLC and Wendell Myers, Sr. . FINAL ORDER OF COURT On this ?? Day of _ *?d11f , 2011, the parties have entered into a Stipulation of the Parties, a fully-executed copy of which is attached hereto as Exhibit A, and it is ordered that the Petition to Transfer of Structured Settlement Payment Rights is granted. The court specifically finds that: (l) 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 statute 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)(1), 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: • 120 monthly payments of $302.11 each, beginning June 1, 2011 t, through and including May 1, 2021; (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 I-Al " 110%1 the amount of $16,200.00, from which no funds are owed for counsel fees, administrative fees, or other costs, fees or expenses. BY THE WTL,? J. -- t The Purchase Contract signed by Payee assigns the June 1, 2011 payment. Since the hearing on the Petition is being field after this date. all parties agree that this payment will be paid to the Payee. LDPy ?A K4 Jd),0,r,.j -fd 4 Ala-o, f 7T 7-7-11 J9C EXHIBIT A STIPULATION OF THE PARTIES This stipulation of the parties ("Stipulation") is entered into as of this 7'h day of July, 2011, by J.G. Wentworth Originations, L.LC ("Transferee"), Wendell Myers, Sr. a/k/a Wendell K. Myers a/k/a Wendell K. Myers Sr. ("Payee"), AEGON Assignment Corporation ("Structured Settlement Obligor"), as owner of the structured settlement annuity No. 019268MSOIZ (the "Annuity") and Monumental Life Insurance Company f/k/a Commonwealth Life Insurance Company ("Annuity Issuer"), as issuer of the Annuity (the Structured Settlement Obligor and Annuity Issuer are sometimes collectively referred to as the "Companies"). RECITALS WHEREAS, pursuant to 40 P.S. §4001, et seq. (the "Act"), this cause came before the Court upon the Petition (the "Petition"), filed by counsel for Transferee, for Court approval of a Transfer of Structured Settlement Payment Rights of the Payee to Transferee; WHEREAS, the Companies have not objected to the proposed Transfer; WHEREAS, the proposed Transfer, after a notice, hearing and testimony by the Payee, either in person, by affidavit, or telephonically, shall be approved in a final court order or order of a responsible administrative authority (the "Court") based on express findings by such Court or responsible administrative authority (the "Order") (any capitalized terms not defined in this Stipulation shall have the meanings set forth in the Order); WHEREAS, unless otherwise defined herein, capitalized terms shall have the meanings set forth in the Act or the Order, as may be applicable. STIPULATION OF THE PARTIES - Page 1 of 6 NO. 11-3396 NOW THEREFORE, in consideration of the mutual covenants and promises herein contained, and for other good and valuable consideration, intending to be legally bound hereby, the parties hereto stipulate and agree to the following: 1. The Recitals are incorporated herein by reference and made a part of this Stipulation. 1 The Payee and Transferee represent and warrant to the Court and Companies that: A. Transferee provided Payee a written disclosure statement which meets all of the requirements prescribed by the Act. B. Prior to the date set by the Court for the scheduled hearing on the Petition filed under the Act, the Transferee filed with the Court and served on all Interested Parties a notice of the proposed transfer and the Petition for its authorization, which included all of the requirements of the Act. C. The Payee has been advised in writing by the Transferee to seek independent professional advice regarding the Transfer and has knowingly waived such advice in writing. D. The Payee has established that the Transfer is in the best interest of the Payee, taking into account the welfare and support of the Payee's Dependents, if any. E. The Transfer complies with the requirements of the Act and does not contravene any applicable federal or state statute or the order of any court or responsible administrative authority or other government authority. F. The Transfer Agreement does not authorize Transferee or any other party to confess judgment or consent to entry of judgment against Payee. G. Except as expressly provided for in this Stipulation, the Transferred Payment(s) are not subject to the claims of any person or entity. H. The Transferred Payment(s) being transferred have not been sold, pledged or alienated in any way and the Payee release any and all security interest that the Payee may have in the Transferred Payment(s). STIPULATION OF THE PARTIFS - Page 2 of 6 NO. 11-3396 I. The Payee has confirmed receipt of the disclosure statement, as evidenced by the Payee's signature on the copy of the disclosure statement. J. Payee is not required by a court order, judgment, or decree to pay child support or alimony. K. Payee has never filed or had filed against the Payee a petition in bankruptcy under the Federal Bankruptcy Code. 3. The Transferee and its successors and/or assigns shall, jointly and severally, defend, indemnify and hold harmless (collectively, the "Indemnity") the Companies from any claims, liability or damages, including, but not limited to, reasonable costs and attorneys' fees, arising from or in connection with (a) any disclosures made in or related to this Stipulation and Order; and (b) compliance by the Companies with this Stipulation and Order. As security for any amounts owed under the Indemnity, Transferee grants, and Payees consent to such grant, to the Companies all rights of offset, setoff and recoupment with respect to the Transfer. 4. Notwithstanding anything to the contrary elsewhere, disputes under the Transfer Agreement, including any claim that the Payee has breached the Transfer Agreement, shall be determined under the laws of this state, and neither the Transferee nor any other party is authorized to confess judgment or consent to entry of judgment against Payee. 5. Pursuant to the Act, the Structured Settlement Obligor and the Annuity Issuer are hereby discharged and immune from all liability to: a) the Payee; b) anyone claiming through the Payee; and c) to any other person or entity, for i) the Transferred Payment(s) and ii) for disclosures made in or related to the Transfer Agreement. Provided, however, that the Annuity Issuer remains liable to the Transferee for the Transferred Payment(s) pursuant to the terms of this Order. 6. Compliance with the requirements and fulfillment of the conditions set forth in the Act, and applicable law shall be solely the responsibility of the Transferee in the Transfer of STIPULATION Or THE PARTIES - Page 3 of 6 NO. 11-3396 the Transferred Payment(s), and the Companies shall not bear any responsibility for, or any liability arising from, non-compliance with those requirements or failure to fulfill those requirements or conditions. Without limiting the foregoing, the Companies may rely on the entry of the Order in making the specified Transferred Payment(s). 7. The Companies are entering into this Stipulation strictly and solely in reliance upon the Court's approval and upon the representations, warranties and agreements of the Transferee and Payee and any other person or entity signing hereunder, and only for the purpose of reflecting that the Companies have no objection to its terms, if approved by the Court at the hearing set for this matter. Further, each of the parties acknowledges that each has had the opportunity to participate in the preparation of this Stipulation and the Order and, as such, no rule of construction shall apply which might construe this Stipulation and/or the Order in favor of or against any party hereto. 8. The Transferee and Payee agree that the terms of this Stipulation and the Order are based exclusively upon the facts, representations, and circumstances of this particular case. Nothing in this Stipulation or in the Order shall preclude the Companies from contesting any other proposed transfer of Structured Settlement payment rights, whether on the basis of applicable law, service of process or otherwise. The Order is to be entered without prejudice to the rights of the Companies, and without findings regarding the enforceability of any non- assignment provision(s) contained in the Structured Settlement Agreement or related documents; provided, however, that the Transfer of the Transferred Payment(s) shall be valid and enforceable against the parties hereto and their successors and'assigns. Neither this Stipulation, the Order or the Companies' lack of opposition to this matter, shall serve as precedent or evidence in any way nor be cited in any matter (except in connection with enforcement of the terms of this Stipulation and the Order). This Stipulation and the Order shall not constitute an admission or STIPULATION OF THE PARTIES - Page 4 of d NO. 11-3396 acknowledgement by the parties that the Uniform Commercial Code does or does not apply to the transaction at issue. Nothing contained in this Stipulation or Order shall be deemed to afford the Payee or the Transferee any rights of ownership or control of the Annuity or shall otherwise affect the exclusive ownership and control of the Annuity by the Structured Settlement Obligor. 9. The Transferee requests that the Transferred Payment(s) be sent by the Companies to the address provided for in the Order, or such other address as the Transferee and its successors and/or assigns may designate upon written notice to the Companies. Payee hereby consents to the Structured Settlement Obligor and Annuity Issuer making the Transferred Payment(s) payable to the Transferee or its successors and assigns. Companies shall not be required to change the address for any of the Transferred Payment(s) absent payment of a reasonable administrative fee. In no event shall the Companies be required to divide or split any of the Transferred Payment(s) between two or more transferees or assignees. Further, any such change of address or assignment by Transferee of its rights to the Transferred Payment(s) shall in no way relieve the Transferee of its obligations hereunder. 10. The death of the Payee prior to the due date of the last Transferred Payment shall not affect the Transfer of the Transferred Payment(s) from the Payee to the Transferee, and the Payee understands that he is giving up his rights and any rights of his estate, and any rights of his heirs, successors and/or beneficiaries, to the Transferred Payment(s). 11. The Transferee shall also pay a $750.00 administrative fee to the Annuity Issuer in connection with its review and processing of the Petition, regardless of whether the Order is approved by the Court. 12. This Stipulation is subject to approval by Order of the Court. Counsel for the Transferee shall mail certified copies of the Order, including any exhibits and this Stipulation to the interested parties. This Stipulation may be executed in any number of counterparts, each of STIPULATION OF THE PARTIES - page 5 of 6 NO. 11-3396 which, when executed and delivered shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same. Signatures received by facsimile or telecopy shall be deemed originals. 13. The persons signing below represent and warrant that they have authority to execute this Stipulation. Such signatures shall be binding upon the parties, and shall inure to the benefit of the parties hereto, and their respective directors, shareholders, officers, agents, employees, servants, successors, heirs, executors, administrators, and assigns. IN WITNESS WHEREOF, the parties have executed this Stipulation by their duly authorized representatives. AGREED TO IN FORM AND SUBSTANCE: PAYEE, TRANSFEREE, by its authorized representative, Wendell Myers, Sr. a/k/a Wendell K. Myers a/k/a Wendell K. Myers Sr. PAYEE'S SPOUSE, The undersigned has no objections to the foregoing: Donna Myers ANNUITY ISSUER AND STRUCTURED SETTLEMENT OBLIGOR, by their attorney, STIPULATION OF THE PARTIES - Page 6 of 6 Sarah A. Zawada, Counsel Greg T. Slessor, Counsel Andrew W. Martin, Counsel NO. 11-3316 which, when executed and delivered shall be deemed to be an original, and all of which, when taken together, shall constitute one and the same. Signatures received by facsimile or telecopy shall be deemed originals. 13. The persons signing below represent and warrant that they have authority to execute this Stipulation. Such signatures shall be binding upon the parties, and shall inure to the benefit of the parties hereto, and their respective directors, shareholders, officers, agents, employees, servants, successors, heirs, executors, administrators, and assigns. IN WITNESS WHEREOF, the parties have executed this Stipulation by their duly authorized representatives. AGREED TO IN FORM AND SUBSTANCE: PAYEE, Wendell Myers, Sr. a/k/a Wendell K. Myers a/k/a Wendell K. Myers Sr. TRANSFEREE, by its authorized representative, PAYEE'S SPOUSE, Donna Myers The undersigned has no objections to the foregoing: ANNUITY ISSUER AND STRUCTURED SETTLEMENT OBLIGOR, by their attorney, Sarah A. Zawada, Counsel Greg'r. Slessor, Counsel Andrew W. Martin, Counsel ST II'tJLAT 1t iV UI 7 HL PART IES - Pane 6 of 6 NO. 11-3396