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HomeMy WebLinkAbout11-5069MARO & MARO, P.C. By: Robert A. Maro, Esquire Attorney I.D. No.: 89585 1115 West Main Street Norristown, PA 19401 (610) 275-9600 .w ,r L.??h i ??t?V •I ,?? `S ky,F1.A0 OUST "EFt SYI.VA? IA IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA RE: Joint Petition of J.G. Wentworth NO: I Sdc?? C? Vi Originations, LLC and W. Porter-Lovett JOINT PETITION FOR PARTIAL TRANSFER OF STRUCTURED SETTLEMENT PURSUANT TO STRUCTURED SETTLEMENT PROTECTION ACT, 40 P.S. 4000, ET SEQ. 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, W. Porter-Lovett, 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, W. Porter-Lovett ("Payee"), an adult individual who resides in the County of Cumberland. For privacy issues, any and all notices can be sent to 201 King of Prussia Road, Radnor, PA 19089. 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: 0 C 4-W yr& -7 _-0 eh677 a. PA R.C.P. 229.2(d)(3)(i) Payee's Affidavit in Support of Petition. Please see Attachment/Exhibit "I"; and b. PA. R.C.P. 229.2(d)(3)(ii) An Initial Order of Court Scheduling Hearing; c. PA. R.C.P. 229.2(d)(3)(iii) A certification by Robert A. Maro, Esquire, attorney for transferee, 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, W. Porter-Lovett, is the beneficiary of an annuity owned by Twin City Fire Insurance Company and issued by Hartford Life Insurance Company. The structured settlement provides payment to the petitioner as described on Attachment/Exhibit "2". 6. Joint Petitioner, W. Porter-Lovett, after having the opportunity to have independent counsel review the agreement; knowingly, intelligently and voluntarily waived his right to independent counsel. A copy of the waiver report is attached hereto, incorporated herein and marked Attachment/Exhibit "3". 7. Joint Petitioner, W. Porter-Lovett, 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) 1 payment of $23,000.00 on December 23, 2014 B) 1 payment of $10,000.00 on December 23, 2019 7. The structured settlement is currently owned by Twin City Fire Insurance Company and issued by Hartford Life Insurance Company, and the net amount in return payable to W. Porter-Lovett is $15,765.00 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 114". 9. The net amount payable to the payee after deduction of all commissions, fees, costs, expenses, and charges is $15,765.00. 10. Based on the net amount that the payee will receive from this transaction $15,765.00 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 17.00% per year. 11. The Buyer furnished W. Porter-Lovett 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 W. Porter-Lovett 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 single and has no minor children. Joint Petitioner has never transferred payment under his annuity in the past. Joint Petitioner is only transferring a portion of his structured settlement. Joint petitioner is currently engaged and would like this money to make repairs and remodel his home that he and his fiance will reside in once they are married. Joint petitioner has no other income available to pay for the cost of these repairs and remodel. Joint petitioner and his fiance would like to make the home as perfect as possible and believe that this is in their best interest to do at this time. Based upon the foregoing which shall be expanded upon at the time fo trial, the transfer is clearly within the best interest of Joint petitioner. 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. Respectfully Submi By: rert A. Maro, Esquir Attorney for Transferee VERIY+'ICATION 1, 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 (,'.J, P o f ? - 4411T and hereby aver that the statements contained therein are true and correct to the best of my knowledge, information and belief. This Verification's made subject to the Penalties of 18 Pa.C.S.A. Section 4904 relating to the unworn falsification to authorities. Lori Borowski, V? 4: 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 unworn falsification of authorities. Date Abert A. Maro, Esquire 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 W. Porter-Lovett 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: Hartford Life Insurance Company Attn. Legal Dept/structured Settlements 200 Hopmeadow Street Simsbury, CT 06089 J.G. Wentworth Originations, LLC 201 King of Prussia Road Radnor, PA 19089 Twin City Fire Insurance Company Attn. Legal Dept/structured Settlements Hartford Plaza Hartford, CT 06115 Date: ?. a // W. Porter-Lovett By: rDert A. Maro, Esquire ttomey 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 J.G. Wentworth NO: Originations, LLC and W. Porter-Lovett ENTRY OF APPEARANCE To The Prothonotary: Kindly enter my appearance on behalf of Joint petitioner, J.G. Wentworth Originations, LLC. Date: ?'- /4 -// By: It6bert 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 ATTACHMENT/EXHIBIT 66197 Payee's Affidavit in Support of Petition to Transfer Structured' Settlement Rights I, W? Porter-Lovett, the payee, verify that the statements below are true and correct: Payee's name, address and age: Vim porter-Lovett, a 1. Marital Status: X Never Married; Married; Separated; Divorced If married or separated, name of spouse: N/A 2 Minor Children and other dependents: Names, ages, and places of residence: NONE 3. Income: I am currently working as a bartender where I am making around $1,800 a month. 4. Child support, alimony or alimony pendente lite: Obligation to pay: __ Yes -A- No If yes, state the amount of the obligation, to whom payable, and whether there are arrearages: none 5. Previous transfers: Have you previously filed a petition to transfer payment rights under the structured settlement that is the subject of this petition? Yes ._X No If yes, for each petition that you filed, (a) If the transfer was submitted for court approval, list the court, the case caption and case.number, and state whether the court approved or disapproved the transfer: 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: I want to use the money that I will be transferring to make repairs and remodel my home that my fiancd and I will be living in once we are married. 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 Verification I verify that the statements made in this affidavit are true and correct. I understand that false statements herein. are made subject to the penalties of 18 Pa. C, S. §4904, relating to unsworn falsification to authorities. DATED: .. owl. 01ACr ATTACHMENT/EXHIBIT "2" !20610- THE RTFORIJ Awth ird tif• 10OU1.6nme 06mpany Mantora ik Harlfors/r COny? ? 7 T3 ANNVJ i x LUNTRACT CIRTIVICATION 'to llar4r%ru life inGUrance Gortt thal bVen DaM rn rrm and M,. rontrac? 64mw "a l am e j . the p[Amium for tfW foltowi $tabd below: "ma rm area '? nnnu Contract l,My P M+t racta r t U r s wnwm-;trg •.... I -"'rrnm Nljm"r CCX JG4 ??....?, - - ....... le ave Date Tw-TIJ CITY FIRE INS. C0..4` CO 09/2g/I993 I?IlKENCFM MT DATE 22 133 / 1999 Annuitant . yt UNOMPORTZR - SINGLE kxXRlUy 'PERIOD CERTAIN LOIN 604 5 20,000.00 PAYMLNTS ON 12/33/1999 $ 30,000.00 4'4000 00 nX 12/2J/2001, ON . $ -50,000.00 46;400 0 12/!3/7nAg ON 22/23/2014 C ' t . 0 950000.00 6N 12/23/2019 ON 13/23/2024 This camcation Only CCrf1rRin an caes. .9 issuance of annuity coMArBAe. Thq astral contract provisions will control Sinod for the Company ' U• Frank C: i-ord, Secretary Hartford Life Insurance COMPany form NL-11174.0 FrJnt&d in U.B.A. ATTACHMENVEXHIBIT 643" Please complete and sign. Account ill: 74137 STATEMENT OF PROFESSIONAL REPRESENTATION Please. Choose Either Box. A 0 Box B Below. After you have made your choice, SIGN AND DATE the appropriate box signature line. YOU SHOULD SIGN ONLY NI<, BOX - THE BOX YOU HAVE CHOSEN. A. I HAVE BEEN ADVISED BY J.G. WENTWORTH ORIGINATIONS, LLC ("JGW") THAT I SHOULD OBTAIN INDEPENDENT PROFESSIONAL REPRESENTATION CONCERNING THE LEGAL, TAX AND/OR FINANCIAL IMPLICATIONS OF THIS TRANSACTION. I FULLY UNDERSTAND THE PURCHASE AGREEMENT AND THE IMPLICATIONS OF THE TRANSFER, INCLUDING THE TAX RAMIFICATIONS OF THE TRANSFER AND I DO NOT WISH TO SEEK OUT SUCH INDEPENDENT PROFESSIONAL REPRESENTATION. 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 THE RELATED DOCUMENTS, I WAS NOT REFERRED TO MY PROFESSIONAL ADVISOR BY JGW. THE NAME OF MY PROFESSIONAL ADVISOR IS SET FORTH BELOW: WAlllllllllllllllllll? PORTER-LOVETT Date To Be Completed By Certyled Professional Advisor Only if you have signed Box B Above Name of Professional: Attorney ID # Phone Number: (_) Address: _ ..._,...,.___?.__ ..,_ .._ T have provided independent professional advice to __ _ in respect of the Purchase Contract with JGW and the transaction contemplatcd thcrcby. William Porter-Lovett was referred to me by the -?.._.-_ Professional's Signature........_-_...__..._..__w....,,_ Date SSC[lLContract ..._._._. '..110 1) J.(J. VYI,111%wII'II 01 i"Jilat11111J" LI C' ATTACHMENT/EXHIBIT "4" Account 1D: 74137 PURCHASE CONTRACT This is a Purchase Contract ("Contract") for the sale of structured settlement payments between R Porter-Lovett (You, Your), with legal residence at 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 making 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 lump sum. wftuftftwmw? 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. Issuer The insurance company that issued the Annuity Policy. Obligor The Person who is obligated to make payments to You under the Settlement Agreement. `nl t I (.. ll? (101 lit IUnu Account IR 74137 Party One of You or Us. Parties means both You and Us. Person Any natural person or legal entity. Purchased Payments Only those certain payments that We are purchasing from You under this Contract. Purchase Price: Gross Purchase Price The amount shown. as the "gross amount payable to the seller (You)" 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 a reed to Y g pay ou 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, Our, or Us J.G. Wentworth Originations, LLC, along with any of its successors i , ass gns, 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 o r Closing Documents may refer to You as the seller. You and We agree as follows: 1. SALE OF I'H PUR HA,) aD PAYMENTS 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 Us; • 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 PRICE 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, if appUcabk: r„ i„ , i i, ' ivq. 1 1 r AccountlD: 74137 • Purchased Payments Owed to Us - The Issuer may have already paid You some of the Purchased Payments before We have paid You for them. If that happens, We will deduct the amount of those Purchased Payments. • Holdbacks- 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 those 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 You. 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. ,YOUR RRPRVXW.N-rAT1rnMQ AND W _ARRANTIES 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 them, 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 former 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 if such 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 of the Purchased Payments. You understand that any violation of Your representations or warranties may be an act of fraud by You under applicable state law, which could result in You being held responsible for damages in 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 terns 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 terms. AccountlD: 74137 1. You were advised by Us to obtain independent legal advice and professional tax advice about the sale of the 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 Contract. You have also explored all appropriate financial options before entering into this transaction. J. 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 terms 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 sell, 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 includes the right to make a claim against You for violating any of the representations, warranties, or promises You made in this Contract. 4. YOUR rROMI[nc Tn rrr 16efore alpd after the ??ndiu? 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 Payments to Us and change the beneficiary as required by this Contract; and • correct any documentation errors in the Contract Documents or Closing Documents. B. 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: • 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 will not cure a breach of any representation or warranty made by You that was not true and complete. G. You agree that Our liability to You under this Contract is strictly limited to the requirement to pay You what We owe AccounttD; 74137 You under the terms of this Contract, after receipt and approval of the Closing Documents, final underwriting approval and Court Approval. Under no circumstances will We be liable for any consequential damages. 5. CACANCE?LATION BY US We may cancel this Contract before the Funding Date 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 dic. G. Final approval has not been given by Our underwriting department. H. The Purchase Contract is not signed by You and received back by Us by July 18, 2011. 1. A major rating agency downgrades the Issuer's credit rating. J. The Issuer is, or becomes insolvent, or under regulatory supervision. 6. CANCFATION BY YOU A. (1) YOU MAY CANCEL THIS CONTRACT WITHOUT PENALTY OR FURTHER OBLIGATION AT ANY TIME WITHIN FIVE (5) BUSINESS DAYS 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 89169-6754 Account ID: 74137 B. GEORGIA RESIDENTS. YOU MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO 5:00 P.M. OF THE TWENTY-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 SETTLEMENT PAYMENT RIGHTS, OR AT ANY TIME WITHIN 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 BF, EFFECTIVE, YOU MUST SIGN THE ENCLOSED "NOTICE OF CANCELLATION RIGHTS" FORM AND MAIL OR DELIVER IT TO US AS SPECIFIED IN THAT NOTICE. C. WEST VIRGINIA FSIDENTS: IN ORDER FOR YOUR CANCELLATION TO BE EFFECTIVE, YOUR NOTICE CAN BE SUBMITTED VIA PHONE, MAIL, OR FACSIMILE. 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 RESCIND 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. 7. NOTICES A. All notices, about this Contract must be in writing. B. All notices must be sent either by: (1) certified or registered mail (return receipt requested); 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 first page of this Contract. If to Us: to the address listed in Section 7(A) (2) of this Contract. 8. EVENTS OF DEFAULT You will be in default if You: A. fail to comply with any terms 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 Your promises or to get money from you. 9. MMC.ELLANEOUS 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. If there is more than 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 rights or 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 courts. '01 11 Account ID; 74137 H. Tbis 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 ofthe Parties. 1. Failure to enforce any provision of this Contract is not a waiver of that provision. J. The Parties may sign this Contract in one or more counterparts. Each counterpart 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 1099 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 should obtain independent legal advice and professional tax advice about the sale of the Purchased Payments and to have those advisors review with You, the terms and legal, tax and other effects of this Contract. Sworn to and subscribed before the this ..??-. day of _ U1A.____, 20\\ ("Contract Date") N ry .................. SELLER: Sworn to and subscribed t bef re me this day of) o M 2p?\ __....._._ ............................_........_......... Notary COMMONWEALTH OF PENNSYLVANIA I Noteriel Seal I Clint E. Bom Notary Public 3watara Twp., Dauphin County MY Comrrisalon'F Onts May 16, 2012 ,ARmhpr Onnns*jniA'Asaoclgtbn of Notaries SELLER'S SPOUSE (if applicable) 44 Spouse" US: J.G. Wentworth Originations, LLC BY: Sam Gottesman, Underwriting Manager - InI I J C;. weutwrnth rlri?iq?hnns. 1.1,(' Account ID: 74137 PENNSYLVANIA June 2, 2011 UISCLOSURF STATEMENT We will purchase the following payments (Purchased Payments) from You: A) 1 payment of $23,000.00 on December 23, 2014 B) 1 payment of $10,000.00 on December 23, 2019 (The remainder of the page intentionally left blank) Account M: 74137 June 2, 2011 The aggregate amount of the Purchased Payments is $33,000.00. The discounted present value of the aggregate Purchase Payments at the federal interest rate of 2.80% is $28,743.16. 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 $15,765.00. The net amount payable to the seller (You) is $15,765.00. 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 54.80% 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 Us at a rate of 17.00% per year. PLEASE NOTE THAT THIS IS NOT A LOAN, BUT A SALE OF PAYMENT RIGHTS AND THE INTERES'T' FIGURE IS ONLY PROVIDED AS AN ILLUSTRATION OF THE ECONOMIC IMPACT OF THE SALE. Please be advised there are no penalties or liquidated damages of any breach of the transfer agreement by you. payable by You in the event By signing below, You are confirming receipt of this Disclosure Statement at least 10 da s prior to You first incurring an obligation with respect to the transfer agreement y (Purchase Contract). W. PORTER-LOVE -z- 'Ulla.! U. 4Ycnlwuilh Urien?allun+. I L(' Account if): 74137 June 2, 2011 CONNECTICUT DISCLOSURE STATEMENT We will purchase the following payments (Purchased Payments) from You: A) I payment of $23,000.00 on December 23, 2014 B) 1 payment of $105000.00 of December 23, 2019 (THE REMAINDER OF THE PAGE INTENTIONALLY LEFT BLAND AccountlD: 74137 June 2, 2011 The aggregate amount of the Purchased Payments is $33,000.00. The discounted present value of the aggregate Purchased Payments at the federal interest rate of 2.80% is $28,743.16. 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 is $15,765.00. No other expenses are incurred by you. The net amount payable to the seller (You) is $15,765.00. 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 Us at a rate of 17.00% per year. PLEASE NOTE THAT THIS IS NOT A LOAN, BUT A SALE OF PAYMENT RIGHTS AND THE INTEREST FIGURE IS ONLY PROVIDED AS AN ILLUSTRATION OF THE ECONONHC IMPACT OF THE SALE. Notice of Cancellation Rights: You may cancel without penalty or further obligation, not later than the fifth business day after Your receipt of payment from Us under the transfer agreement (Purchase Contract). Please be advised there are no penalties or liquidated damages payable by You in the event of any breach of the transfer agreement (Purchase Contract) by You. By signing below, You are confirming receipt of this Disclosure Statement at least 3 da s prior to You executing the transfer agreement (Purchase Contract). y r W i#R' OVE -2- IMPORTANT NOTI You are strongly urged to consult with an attorney who can advise you of the potential tax consequences of this :transaction. By: VIE Sworn to and subscribed Be or me this day of ,...2() Notary _ ,OMMQNVy'ALTHI n F p NotatlN t?pl Clint E. Baum, NWary pt"O SWara TWp„.Dauphin County cOmmlaalon Ma 14, 2012 r.'Pnn>l "),000 I.(i tVenRU)ilh 01Ipinati{vi"., LI (- ATTACHMENVEXHIBIT "5'9 J.G. WENTWORTH ORIGINATIONS, LLC June 14, 2011 Hartford Life Insurance Company 200 Hopmeadow Street Simsbury, CT 06089 Attn: Legal Department/Structured Settlements Twin City Fire Insurance Company Hartford Plaza Hartford, CT 06115 Attn: Legal Department/Structurcd Settlements RE: Notice of Sale/Assignment of Payment Rights Your Contract ##: CCXS64 Payee: YAM Porter-Lovett SS #: ? 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 PAEtKWAY • SUITE 250 • LAS VEGAS, NV 89X69-6754. PHONE: (800) 454-9368 • FAX: (215) 567-7525 • E-MAIL: JCxW@JQWFUNDINCx.COM WEB SITE: WWW.JCiVI UNDIN(i.COM r MARO & MARO, P.C. By: Robert A. Maro, Esquire Attorney I.D. No.: 89585 1115 West Main Street Norristown, PA 19401 (610) 275-9600 ri ED-OFFICE ?- : CIE 16t 3t,1 22 PM 2: 24 CUMBER Y?YANIAT? PENNS IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA q RE: Joint Petition of J.G. Wentworth NO: Originations, LLC and W. Porter-Lovett NOTICE OF HEARING ON PETITION TO TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS To: Hartford Life Insurance Company J.G. Wentworth Originations, LLC Attn. Legal Dept/structured Settlements 201 King of Prussia Road 200 Hopmeadow Street Radnor, PA 19089 Simsbury, CT 06089 Twin City Fire Insurance Company W. Porter-Lovett Attn. Legal Dept/structured Settlements Hartford Plaza Hartford, CT 06115 You are hereby given notice that J.G. Wentworth Originations, LLC has filed a petition to transfer structured settlement payment rights. A hearing in this matter has been scheduled on 2011 at /, 3,0 o'clock in courtroom no. courthouse, Cumberland County Cou of Common Pleas, Pennsylvania. You are entitled to support, oppose or otherwise respond to the payee's petition, either in person or by counsel, by filing written comments with the court prior to the hearing or by attending the hearing. The Name, Address and Tax Identification number of the transferee is J.G. Wentworth Originations, LLC. 201 King of Prussia Road, Radnor, PA 19089, Tax I.D. No. 20-4728885. BY: Date a aro, Esquire Attorney for J.G. Wentworth Originations, LLC. 1115 W. Main Street Norristown, PA 19401 (610) 275-9600 (610) 275-9666(facsimile) I , Reserved for Court use. IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA RE: Joint Petition of J.G. Wentworth NO: Originations, LLC and W. Porter-Lovett INITIAL ORDER OF COURT On this V- 1 day of I (I D C- 2011, it is ordered that a hearing on this Petition to Transfer Structured Settlement Payment Rights will be held on 2011, in Courtroom at 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. A. UO-W, N- Maro & Maro, P.C. By: Robert A. Maro, Esquire Attorney I.D. No.: 89585 1115 W. Main Street Norristown, PA 19401 (610) 275-9600 Attorney for JG Wentworth Origination, LLC IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA IN RE: Joint Petition of JG Wentworth NO: 2011-5069 Civil Originations, LLC and William Porter-Lovett CERTIFICATE OF SERVICE C) c I, Robert A. Maro, Esquire, hereby certify that a true and correct copy of Hearing Notice was served upon the Payee, The Structured Settlement Obligor, Annuity Issuer, the Payee's Spouse and any person receiving child support, alim rQr alimony pendente lite. a ca A copy of the Notice is attached hereto. Date: June 28, 2011 l/ Robert A. Maro, Esquire Attorney for JG Wentworth Originations, LLC BY ' N C= c xGJ 0 w r*i? ror` 0? a c? 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: 4 (S4 CSC ( CSC 1 1 Originations, LLC and W. Porter-Lovett NOTICE OF HEARING ON PETITION TO TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS To: Hartford Life Insurance Company Attn. Legal Dept/structured Settlements 200 Hopmeadow Street Simsbury, CT 06089 J.G. Wentworth Originations, LLC 201 King of Prussia Road Radnor, PA 19089 Twin City Fire Insurance Company Attn. Legal Dept/structured Settlements Hartford Plaza Hartford, CT 06115 W. Porter-Lovett You are hereby given notice that J.G. Wentworth Originations, LLC has filed a petition to transfer structured settlement payment rights. A hearing in this matter has been scheduled on ,, 2011 at I?3p o'clock in courtroom no. courthouse, Cumberland County 1.1 1 Court f Common Pleas, Pennsylvania. You are entitled to support, oppose or otherwise respond to the payee's petition, either in person or by counsel, by filing written comments with the court prior to the hearing or by attending the hearing. The Name, Address and Tax Identification number of the transferee is J.G. Wentworth Originations, LLC. 201 King of Prussia Road, Radnor, PA 19089, Tax I.D. No. 20-4728885. 01-14-11 BY: Date a aro, Esquire Attorney for 1G. Wentworth Originations, LLC. 1115 W. Main Street Norristown, PA 19401 (610) 275-9600 (610) 275-9666(facsimile) IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA In Re: Petition of William Porter-Lovett to Docket No. 11-5069-Civil Transfer Structured Settlement Payment Rights ORDER Petitioner, J.G. Wentworth Originations, LLC, having petitioned this Court for an Order pursuant to the Pennsylvania Structured Settlement Protection Act 40 P.S. § 4001 et seq., (the "Pennsylvania Act"), approving the transfer of structured settlement payment rights pursuant to a transfer agreement ("Transfer Agreement") between J.G. Wentworth Originations, LLC ("Transferee") and William Porter-Lovett ("Payee"), and upon all papers and pleadings in this matter, including the Transfer Agreement, the disclosure statement, the testimony of the Payee and all other papers submitted in support of the transfer, and Hartford Life Insurance Company and Twin City Fire Insurance Company, having expressed no objection to the terms of this transfer, and the Court having heard Transferee's Counsel at the hearing on this matter on this Ly of_ xj? , 20_ Lk , and due deliberation being had thereon, the Court hereby makes the following express findings: 1. This Court has jurisdiction over this matter pursuant to the Pennsylvania Act; 2. The transfer of the structured settlement payments complies with the requirements of the Pennsylvania Act, and Connecticut General Statutes § 52-225-g-1 (collectively, "Applicable Acts"); 3. The only interested parties or potential interested parties to this action as defined by the Applicable Acts are as follows: Payee: William Porter-Lovett 600 E Keller St Mechanicsburg, PA 17055-3425 Structured Settlement Obligor: Twin City Fire Insurance Company Hartford Plaza. Hartford, CT 06115 Attn. Legal Dept/structured Settlements Annuity Issuer: Hartford Life Insurance Company 200 Hopmeadow Street Simsbury, CT 06089 Attn. Legal Dept/structured Settlements 4. The Court has determined that the transfer is in the best interest of the Payee, taking into account the welfare and support of Payee's dependents, if any. The transaction, including the discount rate used to determine the gross advance amount and the fees and expenses used to determine the net advance amount are fair and reasonable to all interested parties. 5. The Payee has received, or expressly waived, in a separate written acknowledgement signed by the payee, independent legal advice regarding the implications of the transfer, including consideration of tax ramification of the transfer; 6. The transfer does not contravene any applicable federal or state statute or regulation, or any applicable law limiting the transfer of workers' compensation plans, or order of any court or other governmental authority; 7. The Payee has consented to the transfer in writing; 8. Transferee has satisfied the notice provisions of the Applicable Acts by serving a copy of the notice of proposed transfer, the application for its approval and all other required documents on all interested parties at least 20 days prior to the time at which the Petition was noticed to be heard; 9. In connection with the transfer, at least 10 days before the date on which Payee first incurred an obligation with respect to the transfer, Transferee provided to the Payee the disclosure statements as required by the Applicable Acts; 10. The Transfer Agreement provides that if the Payee is domiciled in this state, any disputes between the parties will be governed in accordance with the laws of this state, and that this state is the proper venue to bring any cause of action arising out of a breach of the Transfer Agreement; 11. The Transferee has given written notice of the transferee's name, address, and taxpayer identification number to the annuity issuer and the structured settlement obligor, and has filed a copy of that notice with the Court; 12. The Transfer Agreement does not authorize Transferee or any other party to confess judgment or consent to entry of judgment against the Payee; and 13. The Agreement does not involve the transfer of life contingent payments. 14. The aggregate amount of the payments being transferred is $33,000.00. 15. Net amount payable to Payee in exchange for such payments is $15,765.00. ORDERED that the petition of Transferee is granted; and it is further ORDERED that Twin City Fire Insurance Company and Hartford Life Insurance Company shall recognize and honor the terms of the Transfer Agreement and the assignment to Transferee, and/or its successors or its assigns; and it is further ORDERED that Hartford shall make payments of: A) 1 payment of $23,000.00 on December 23, 2014 B) 1 payment of $10,000.00 on December 23, 2019 (the "Assigned Payment") to Transferee; and it is further ORDERED that Twin City Fire Insurance Company and Hartford Life Insurance Company shall remit the Assigned Payment to Transferee at the following address, or such other address as Transferee shall designate in writing: J.G. Wentworth Originations, LLC. P.O. Box 83364 Woburn, MA 01813-3364; and it is further ORDERED that Twin City Fire Insurance Company and Hartford Life Insurance Company shall, as to all parties except Transferee, be discharged from any and all liability for the Assigned payment; and it is further ORDERED that the Transferee shall be liable to Twin City Fire Insurance Company and Hartford Life Insurance Company for any liabilities, taxes or costs of any kind, including reasonable costs and attorneys' fees arising from compliance by Twin City Fire Insurance Company and Hartford Life Insurance Company with this order and/or arising as a consequence of the Transferee's failure to comply with applicable law; and that, if, as a consequence of the Transferee's failure to comply with applicable law, the Transferee owes any amount to Twin City Fire Insurance Company and Hartford Life Insurance Company, then the Transferee expressly grants to Twin City Fire Insurance Company and Hartford Life Insurance Company the right to recover any liabilities, taxes, costs of any kind, and attorneys' fees, as well as their attorneys' fees relating to the above-captioned action; and it is further ORDERED that this Order in no way modifies or negates the ownership or control of the underlying contract by Twin City Fire Insurance Company and is entered without prejudice to the rights of Twin City Fire Insurance Company and Hartford Life Insurance Company and the lack of opposition by Twin City Fire Insurance Company and Hartford Life Insurance Company to this transfer, and their compliance with this Order, shall not constitute evidence in this or any other matter regarding: (i) the assignability of payments under a structured settlement agreement or annuity contract or related contracts or whether such payments can be assigned; (ii) the enforceability of provisions that restrict and/or preclude assignment of payments under a structured settlement agreement or annuity contract or related contracts or orders; (iii) the validity of other transactions entered into by Transferee; or (iv) whether Twin City Fire Insurance Company and Hartford Life Insurance Company has waived any right in connection with any other litigation or claims or rights other than the rights to the Assigned payment as described above; and it is further ORDERED that after Twin City Fire Insurance Company and Hartford Life Insurance Company changes the address for the Assigned payment to the above designated address ("Designated Address"), then Twin City Fire Insurance Company and Hartford Life Insurance Company shall not again be required to change the address for the Assigned payment; however, the Transferee may request and Twin City Fire Insurance Company and Hartford Life Insurance Company will reasonably grant up to one address change per calendar year; and it is further ORDERED that in the event that Transferee further assigns rights to the Assigned payment (or any portion thereof) to any other person or entity, then Twin City Fire Insurance Company and Hartford Life Insurance Company will not themselves be obligated to redirect the Assigned payment (or any portion thereof) to any person or entity other than Transferee, and Twin City Fire Insurance Company and Hartford Life Insurance Company shall have no duty or obligation to any person other than Transferee; and it is further ORDERED that if prior to the issuance of the order or within 30 days after the entry of the order, Twin City Fire Insurance Company and Hartford Life Insurance Company sends any of the scheduled Assigned Payments to the Payee that came due and owing under the settlement and annuity in that time period, it is adjudged that Twin City Fire Insurance Company and Hartford Life Insurance Company has fulfilled their obligations to the Payee and to the Transferee with respect to any such payment(s); and it is further ORDERED that the death of Payee prior to the due date of the last of the Assigned payment shall not affect the transfer of the Assigned payment from Payee to J.G. Wentworth Originations, LLC., and Payee understands he is giving up his rights, and the rights of his heirs, successors and/or beneficiaries, to the Assigned payment; and it is further ORDERED that any further transfer of structured settlement payments rights by the Payee shall be made in compliance with all of the requirements of Applicable Acts; and it is further ORDERED that this order is binding on any and all successors of the Payee, of other interested parties, and of the Transferee; and it is further ORDERED that the Payee shall not incur any penalty, forfeit any application fee or other payments, or otherwise incur any liability to Transferee or any other person based on any failure of the transfer to satisfy the Applicable Acts; and it is further ORDERED that this constitutes a Final Order of the Court. Dated: 20 1 J Wound mm-e4 VIB[If '7Robe4tA4auo,(a od ter Jr , ? o m a t.- rn r C , C) 3 = ? 5C ?M rI3 > NYC 556756.1