HomeMy WebLinkAbout12-3853
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL DIVISION
IN RE:
JOINT PETITION FOR 'T'RANSFER OF
STRUCTURED SETTLEMENT PAYMENT
RIGHTS BY
DOROTHY STRINE,PAYEE,
And
STONE STREET CAPITAL, LLC
JOINT PETITION TO TRANSFER
STRUCTURED SETTLEMENT PAYMENT RIGHTS
Joint Petitioners, Dorothy Strine, and Stone Street
Capital, LLC, hereby submit the following Joint Petition to
Transfer Structured Settlement Payment Rights pursuant to the
Structured Settlement Protection Act, 40 P.S. §§ 4001-4009 ("the
Act"), and Pa.R.C.P. 229.2, and in support state:
1. Joint Petitioner and "Payee" herein is Dorothy Strine,
an adult individual whose date of birth is September 1, 1954,
and who resides at 167 Ken Lin Drive, Carlisle, Pennsylvania
:17015.
2. Pursuant to Rule 229.2, Joint Petitioner Stone Street
Capital, LLC ("Stone Street"), is a company in the business of
purchasing future periodic payments and therefore a "Transferee"
as defined by 40 P.S. § 4002. Stone Street is a Delaware qO
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limited liability company having a place of business at 7316
Wisconsin Avenue, Fifth Floor, Bethesda, Maryland 20814.
3. This Court has jurisdiction to determine the merits of
this joint petition pursuant to the Act because the Payee is
domiciled in Cumberland County, Pennsylvania. 40 P.S. § 4004.
4. As the result of a wrongful death claim that was
settled in 1991, Payee is entitled to receive 240 monthly
payments each in the amount of $900.00 commencing on February 1,
1991 through and including January 1, 2011, then continuing for
life thereafter. Attached hereto as Exhibit "A" is a portion of
Payee's Annuity Contract, with benefit information.
5. The obligation to make the monthly payments is held by
the Commonwealth of PA Medical Professional Liability
Catastrophe Loss Fund, the Structured "Settlement Obligor" as
defined by 40 P.S. § 4002. Commonwealth of PA Medical
Professional Liability Catastrophe Loss Fund is located at 1062
Lancaster Avenue, Rosemont, Pennsylvania 19010.
6. The obligation was funded through the issuance of an
annuity by Allstate Life Insurance Company (the "Annuity
Issuer"). Allstate Life Insurance Company is located at 3100
Sanders Road, N3A, Northbrook, Illinois 60062.
7. On or about June 13, 2012, Payee executed a "Purchase,
Transfer and Assignment Agreement" (the "Transfer Agreement"), a
true and correct copy of which is attached hereto and
incorporated herein by reference as Exhibit "B". The Transfer
Agreement provides for the assignment of Payee's right and
interest in receiving 193 monthly life-contingent payments of
$150.00 from December 1, 2013 through and including December 1,
2029; and 90 monthly life-contingent payments of $900.00 from
January 1, 2030 through and including June 1, 2037, to Stone
Street and/or its Designated Assignee.'
8. The right to receive the payments described above at
paragraph 4, and reflected in Exhibit "A", is exclusive to the
Payee. She has never pledged, sold, assigned, transferred, or
otherwise encumbered the rights to receive these payments.
9. The Transfer Agreement was executed by the Transferee
on or about June 13, 2012.
10. Payee shall retain all right and interest in remaining
payments not assigned.
11. Payee has completed the "Payee's Affidavit in Support
of Petition" required by Rule 229.2, a copy of which is attached
hereto as Exhibit "C". As set forth in further detail in the
Affidavit, Payee intends to use the funds in order to pay off
high interest credit card debt (Exhibit "C", para. 7, 8).
12. Payee is 57 years old, and has no dependents.
13. Payee has been provided, and has acknowledged receipt
Pursuant to Rule 229.2(d), Stone Street has attached a Verification in support of the joint petition. Pursuant to
Rule 229.2 (c), the Payee is also a party, but is not represented by counsel for Stone Street.
at least 10 days prior to receipt of the Transfer Agreement, of
the "Disclosure Statement" required by 40 P.S. § 4003 (a)(2),
attached and incorporated herein by reference as Exhibit "D".
The following terms have been disclosed to the Payee:
a. The amounts and due dates of the structured
settlement payments to be transferred are: 193
monthly life-contingent payments of $150.00 from
December 1, 2013 through and including December
1, 2029; and 90 monthly life-contingent payments
of $900.00 from January 1, 2030 through and
including June 1, 2037.
b. The aggregate amount of the structured
settlement payments to be transferred is
$109,950.00.
C. The discounted present value of the payments
transferred using the most recently published
applicable federal rate for determining the
value of an annuity is $88,745.78.
d. The federal discount rate used to determine the
discounted present value is 1.2%, as most
recently published by the IRS.
e. The gross amount payable to Payee in exchange
for the transferred payments is $6,596.13.
f. The net amount payable to Payee after deduction
of legal fees, costs, expenses and processing
fees is $6,596.13.
g. The quotient is 7.43%.
h. The amount of penalty and aggregate amount of
any liquidated damages inclusive of penalties
payable by the Payee in the event of any
breach of the Transfer Agreement by the Payee
is: NONE.
14. Based on the net amount that the Payee will receive
from this transaction ($6,596.13), and the amounts and timing of
the structured settlement payments that would be assigned, the
Payee is, in effect, paying interest at the rate of 25.00% per
year ("Disclosure Statement", Exh. "D", para. 8).
15. Payee has been provided, and has acknowledged receipt,
at least 10 days prior to receipt of the Transfer Agreement, the
written "Notice" in bold print 12-point type as required by 40
P.S. § 4003 (b). (See, Exhibit "E", attached).
16. Payee acknowledges that she has been advised to obtain
independent professional advice regarding the consequences,
implications, and tax effects of the transaction, as set forth
in the "Statement of Professional Representation," attached to
this Petition as Exhibit "F".
17. The transfer complies with the requirements of the
Act, 40 P.S. §§ 4001-4009, and will not contravene other
applicable Federal or State statutes or regulations or any
applicable law limiting the transfer of workers' compensation
claims. (See, Certification of Ronald E. Reitz, attached as
Exhibit "G").
18. Joint petitioners respectfully request that the Court
sign an order approving this transfer which constitutes a
"qualified order" for purposes of 26 U.S.C.A § 5891.
19. Payee has seriously contemplated this transaction, and
due to her personal circumstances and needs, believes that this
transfer_ is in her best interests.
20. Payee acknowledges that Margolis Edelstein and/or
Ronald E. Reitz have not been engaged to render professional
advice with respect to the advisability, or the implications of
the transfer, including the tax ramifications of the transfer.
Counsel has been engaged solely to prepare and present the
within Joint Petition, based upon Payee's independent
determination and professional advice obtained from others, with
respect to the advisability and ramifications of the transfer.
21. Pursuant to Cumberland County Local Rule 208.3(a)(2),
Payee has had two previous transfer petitions approved, docketed
at No. 08-1355; and 10-267 (See, Exhibit "C", para. 6).
WHEREFORE, Joint Petitioners, Dorothy Strine, and Stone
Street Capital, LLC, pray that this Honorable Court grant this
Joint Petition to Transfer Structured Settlement Payment Rights.
Respectfully submitted,
Margolis Edelstein
By:
Ronald E. Reitz
PA I.D. No. 55408
525 William Penn Place
Suite 3300
Pittsburgh, PA 15219
_rreitz@margolisedelstein.com
(412) 355-4969
Attorney for Transferee,
Stone Street Capital, LLC
VERIFICATION
I, Patricia LaBorde, Division Counsel for the Structured
Settlement Division of Stone Street Capital, LLC, have read the
foregoing Petition for Dorothy Strine to Transfer Structured
Settlement Payment Rights, and hereby aver that the statements
therein are correct to the best of my personal knowledge,
information and belief.
This statement is made subject to the penalties of 18 Pa.
C.S. § 4904 relating to unsworn falsification to authorities.
Date:
Patricia LaBdrde
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of the
foregoing JOINT PETITION TO TRANSFER STRUCTURED SETTLEMENT
PAYMENT RIGHTS was served by cert. . d mail, return-receipt
requested, postage pre-paid, on this day of June, 2012 on:
Commonwealth of PA Medical Professional Liability Catastrophe
Loss Fund
1062 Lancaster Ave.
Rosemont., PA 19010
("Settlement Obligor")
Allstate Life Insurance Company
3100 Sanders Rd., N3A
Northbrook, IL 60062
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Sharon Ji, Senior Paralegal
Stone Street Capital, LLC
Structured Settlement Division
7316 Wisconsin Avenue, Suite 500
Bethesda, MD 20814
("Transferee")
Dorothy Strine
167 Ken Lin Dr.
Carlisle, PA 17015-9753
("Payee")
#d/E elstein
By:
. e itz
525 William Penn Place
Suite 3300
Pittsburgh, PA 15219
(412) 355-4969
Attorney for Transferee
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
CIVIL DIVISION
IN RE:
JOINT PETITION FOR TRANSFER OF
STRUCTURED SETTLEMENT PAYMENT
RIGHTS BY .
DOROTHY STRINE,
PAYEE,
And
STONE STREET CAPITAL, LLC
FINAL ORDER OF COURT
No.
On this day of , 2012, it is ordered that the
Joint Petition to Transfer Structured Settlement Payment Rights
is granted.
The court specifically finds that:
(1) the Payee, Dorothy Strine, 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) (2) , 3 (a) (4) , 3 (a) (5) and 3 (a) (6) ;
(4) the payments that are to be transferred are designated
as follows: 193 monthly life-contingent payments of $150.00 from
December 1, 2013 through and including December 1, 2029; and 90
monthly life-contingent payments of $900.00 from January 1, 2030
through and including June 1, 2037, to Stone Street Capital, LLC
and/or_ its Designated Assignee;
(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 the amount
of $6,596.13, from which no funds are owed for counsel fees,
administrative fees, or other costs, fees or expenses.
BY THE COURT:
J.
A
DATE
FEB 1, 1991
AND
THEREAFTER
SCHEDULE OF PAYMENTS
AMOUNT
S 900.00 MONTHLY
CERTAIN PAYMENTS: THE FIRST 240 PAYMENTS SHOWN ABOVE, THE LAST ONE
SCHEDULED FOR JAN 1, 2011.
NAME SEX DATE DF BIRTN
ANNUITANTi DOROTHY STRINE FEMALE SEP 1, 1954
CONTRACT NUMBER: 906011709 OWNER: COMMONWEALTH PA CAT FUND
ISSUE DATE: JAN z, 1991
PAGE 3
POLICY DATA PAGE FOR LU970
Jun.11. 2012 3:32PM Slonestreet Capital
No. 053 P. 3
Stonestreet
Capital 1?VRCHASF , nUNS>FER AND ASSICyNMENT AGRIE MENT
This Purchase, Tr msfer and Assigntnent Agreement, which along with the Terms and Conditions
attached hereto is referred to herein as the "Agreement", is a contract between Slone Street Capital, LLC
its successors and/or assigns ("Stone Street' or "we," 'W', or "our"), a Delaware Limited Liability
Company, and Dorothy Strlne (referred to as "you" or "your'). The purpose of this Agreement is to set
forth the terms of a legally binding cantraet where you agree to sell us your structured settlement
payments.
SUMMARY OF IMY TERM&
You agree to sell, and Stone Street agrees to purchase the following payments:
193 monthly life contingent payments of $150.00 from December 1, 2013 through and including
December 1, 2029; and 90 monthly We contingent payments of S900.00 from January J, 2030
through and ineluding June 1, 2037 ("the Assigned Payments")
You havo agreed to accept the following purchase price in exchange for the Assigned Payments:
$6,596.13 (the "Purchase price")
_Disclosure Statement. To comply with stale and federal law, we gave you a Disclosure Statement that
explained the financial terms of this Agreement. Among other things, the Disclosure Statement
describes the fees that you will be responsible for at the time of funding. The terms set forth of the
Disclosure Statement, including any later amendments to the document, are considered a part of this
Agreement, You agree that you had the opportunity to read and review the Disclosure Statement, and
that you agree to its terms.
Date of the Agreement. The date of this Agreement is June 19, 2012, and you have no obligation under
this Agreement before that date.
By signing below, the parties agree to be bound to the terms of the agreement, including the provisions
set forth in the Terms and Conditions attached hereto and incorporated herein by reference.
SEL ER;
O3y ~
So ignalUre
This foregoing instrument was acknowledged before
me this j S day aft.201_4_. by borothy Solna
wlio is cither (i) persorrally known to me or (ii) who has
produced Identification.
Notary Signature J
Notary Public in rid for the Stale of PA
My Commission Expiros: l _
STONE STREET CAPITAL, LLC:
By %-?%?,
David M. Lewis,
Senior Vice President
co7Oftny H Or Pr;NV LVANtA
rlal seal
Aer, Notary Public
CUWM%nd G6" emu J& 3 2611
MEMe?,vexuyr?
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Jun. 11. 2012 3:33PM Stonestreet Capital No. 4853 P. 4
TERMS AND CONDITIONS
The purpose of this Terms Summary is to set forth additional terms of it legally binding contract where
you agree to sell structured settlement payments to Stone Street
BAckground
A. You (or someone acting on your behalf) settled a lawsuit or a claim sometime before the data
of this Agreement, and as a result of that settlement, you became entitled to rcceive payments
payable over time. The terms of that agreement are documented in a Settlement Agreement
or a similar document (the "Settlement Agreement'). The defendants or their insurers in
your lawsuit or claim assigned their obligation to make those payments to a third party, the
Settlement Obligor (the "Obligor"). The Settlement Obligor purchased an annuity (the
"Annuity") from an insurance company (the "Issuer") to make sure that you would receive
the payments according to the terms of the Settlement Agreement. You are entitled to
receive payments from the Annuity.
B. You have decided that receiving your payments according; to the timetable set forth in the
Settlement Agreement does not satisfy your financial needs. After thinking about other ways
of addressing your financial situation, you have decided to sell some of your payments to
Stone Street in exchange for a cash payment.
1. The Sale and Purchas . You agree to sell the settlement payments identified as the "Assigned
Payments" on the Summary of Key Terms to which this Teams Summary was attached. Stone Street
agrees to pay you, and you agree to accept, cash in the amount identified as the "Purchase Price" stated
on the Summary of Key Terms to which this Terms Summary was attached
2. How the Purchase Price Will be Paid to You. We will pay you by any means you choose,
including an electronic wire transfer directly to your bank account or by check. It you elect an
electronic wire transfer, we will only make payment to a bank account in your name.
3 What Must Happen Before Puuding. Before the Assigned Payments are transferred to Stone
Street, a court most approve this Agreement, After court approval, there are additional conditions that
must be met before we can pay you your Purchase Price. First, the Issuer must acknowledge, in writing,
the receipt of a court order that: (a) directs the Obligor and Issuer to make the Assigned Payments to
Stone Street to the address and entity that we name; (b) makes all findings required by applicable law;
and (c) cannot be appealed. Second, we must confirm that all of your obligations under the Agreement
have been satisfied including providing us with all necessary documentation. Last, we must roview the
transaction, the supporting documents, lien, judgment, bankruptcy and other searches to verity that there
is no right or condition that exists that would require us to terminate this Agreement. When these steps
are satisfied, your transaction will close and fund.
4. The FaXmehts We Do Not Buy. If you decided to sell us only a portion of your payments, this
Agreement does not affect the payments that you did not sell. You will continue to rcceive the unsold
portion of the payments unless those payments were previously sold, encumbered or subject to court
ordered garnishment or execution. In some cases, the court, the Obligor or the Issuer may require that
the entire structured settlement payment be paid to us, and, upon receipt, we shall remit the unassigned
portion of the structured settlement paymom back to you. If such a circumstance arises in your
transaction, you agree to this payment servicing arrangement.
5. Other Documents. Stone Street will expeditiously and diligently work to get a court order
approving this Agreement. To assist us in this process, you agree to execute additional documents that
may be required by the court, the Obligor or the Issuer. You agree to provide us with complete copies of
your Settlement Agreement and Annuity, and other documents necessary to complete the transaction.
6. You Own and Can Sell Ygj
Payments, We must establish that you own the payments that
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Jun.ll. 2012 3:33PM Stonestreet Capital
No. 4853 P. 5
you are selling to us, and that no one else could claim an interest in the Assigned Payments: Unless you
toll us in vn•iting otherwise, you represent and promise to us that;
(a) You have the right to receive and sell the Assigned Payments;
(b) This Agreement does not conflict with any of your other obligations;
(c) The Assigned Payments are not subject to any community property or spousal rights of any
person;
(d) There is no dispute, lawsuit, or challenge relating to your right to receive the payments under
the Settlement Agreement;
(e) Neither you nor anyone else has sold, pledged or otherwise transferred the
Assigned payments nor attempted to do so;
(f) No other person or business claims a security interest, 1 ion, right, title, or interest of any kind
in the Assigned Payments;
(g) All applicable child support, alimony, and tax obligations are up to date,
(h) There are no unsatisfied judgments against you;
(i) You are not in bankruptcy; and
(j) If one or more of these statements becomes untrue before the Purchase Price is paid to you,
you agree to notify as in writing. In all events, you authorize us to conduct credit checks,
judgment and lien searches, and criminal background searches to confirm that there ara no
claims against the Assigned Payments.
7. i'our Promises to Us. Stone Street is relying upon the statements you have made to us and the
documents you have provided regarding you, your situation, the payments you are receiving, and the
payments you are now selling, including the following:
(a) You completed and signed an application along with this Agreement, and the information
contained in the application is complete and correct;
(b) You believe that selling the Assigned Payments is in the best interest of you and your
dependents;
(e) You are 18 years of age or older, are of sound mind, not under the influence of drugs or
alcohol;
(d) You understand and agree that you are not considered a "consumer" in this transaction, and
that you waive the protection of various consumer protections laws;
(o) You understand that we are not assuming any of your obligations under the Settlement
Agreement, Annuity, Uniform Qualified Assignment or other related documents;
(f) You understand and agree to the terms of this Agreement;
(g) No one has forced you to sign this Agreement nor has anyone promised you anything other
than what is stated in this Agreement In an effort to persuade you to sign it.
8. Life Contingent Payments. If we are purchasing payments that are payable only if you are
alive, your transaction will be subject to a medical underwriting review. We will provide you with a
separate release in accordance with the Health Insurance Portability and Accountability Act (HYPAA) of
1996. Once you sign the release, you will be asked questions about your medical history. You must
give full, complete, and accurate responses to all medical questions because Stone Street will rely upon
your answers in determining your eligibility for this tmnsaolion. If you do not meet the standards for
the transaction, Stone Street will inform you, and will cancel the transaction with no cost to you. If we
are buying life contingent payments and you die prior to when we have paid you the purchase Price for
the life contingent payments we, will have no obligation to pay the Purchase Price for such payments and
the transaction will be cancelled.
9. Independent A ftlaor. Before you sign this Agreement, you may wish to consult with an
independent advisor to seek legal, financial or other expert advice regarding the legal, Financial,
and tax consequences of this Agreement. By signing this Agreement, you acknowledge that Stone
Street has advised you of this right in writing,
10. Deductions r In the Purchase Priao. We will deduct from your Purchase Price any fees that
oom"I
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Jun. 11. 2012 3.339 M S t o n e s t r e e t Capital
No. 4853 P. 6
are set forth on your Disclosure Statement. In addition, you may have elected to sell payments to pay
off debts, liens, and past due obligations. If you owe back taxes, past due child support, or have
judgments or liens recorded against you or your assets, we may require that some of those debts, claims,
or liabilitiee be paid at the time the transaction is funded. If it is reasonably necessary to pay certain
debts before funds are released to you so that the Assigned Payments ate not subject to such debts, Stone
Street will pay those debts for your account and deduct the payment from your Purchase Price. Also,
you may have received a partial prepayment of the Purchase Price, Any pre-funding payments that you
may have received prior to Closing will also be deducted from the Purchase Price,
11. Payments Received Before Funding. You acknowledge that it may take some time for the
Obligor and Issuer to receive and process the court order. Accordingly, you could receive payments that
were supposed to be sold to Stone Street, If you receive some payments before we pay you the
Purchase Price, the amount of payments received by you will be deducted from the Purchase Price,
12. Amount Reldback from Purchase Price, As set forth above, it may take the Obligor and
Issuer some time to process the court order, We may withhold an amount from the Purchase Price equal
to the amount of the payments to be paid within two to six months of the closing (depending upon the
insurer and its practices). When the Assigned Payments begin to be received by Stone Street, the
amount withheld will be released to you, less the amount of any payments paid over to you in error
while the insurance company was processing the address change.
13. $4eeiyine Payments -In Crror, The Obligor and Issuer may send an Assigned Payment to you
in error. In the event that you receive a payment that you have sold to Stone Street, you agree to hold
those payments in trust and immediately turn them over to Stone Street.
14. Limited Po o Attorney. Some insurance companies will continue to make the Assigned
Payments payable In your name after the transaction is closed. You hereby grant Stone Street, or its
successors, assigns or agents, an irrevocable limited "power of attorney" granting us the right to cash
these checks and to deposit the money into our collection account,
15. Grant of Security Interest. You intend to sell and Stone Street intends to purchase your rights,
title and interest in and to the Assigned Payments. This Agreement is not a loan. Subject to the court's
approval of the We, you grant to Stone Street a security interest under Article 9 of the Uniform
Commercial Code In your rights and interest In the Assigned Payments. These rights have been
assigned to Stone Street as a payment intangible or general intangible under Article 9 of the Uniform
Commercial Code. This Agreement shall function m a security agreement, and the security Interest
secures payment of the rights assigned and performance of your obligations under this Agreement. In
the event that the transactlon is for any purpose characterized as a loan, a financing or extension of
credit or anything other than a trve sale by any court, you grant us a security interest and all rights of a
secured party lender under the Uniform Commercial Code. We may fle a UCC-1 financing statement or
continuation statement evincing and perfecting our rights in the jurisdictions that we deem appropriate.
16, Testamentary Aar eh , If you should die prior to the due date.ofthe last Assigned Payment,
Stone Street will continue to receive the Assigned Payments on the dates set forth in the Summary of
Key Terms. You are giving up your rights to the Assigned Payments, and the rights of your heirs,
successors, beneficiaries, and/or any other person claiming by, through or under you. Accordingly, this
Agreement is a Testamentary Agreement in which you irrevocably agree to name Stone Street or its
assigns as the parry that will Inherit the Assigned Payments upon your death. You understand that you
no )longer have the power to amend, modify, alter or otherwise change this beneficiary designation,
Also, you agree to sign a form designating Stone Street as the solo bcuclieiary under the Annuity during
the term of the Assigned Payments,
17. Restrictions on Asshmmont. Your Settlement Agreement may contain language prohibiting
your right or power to accelerate, defer, increase, decrease or assign your payments. You hereby waive
and release any such restriction if your Settlement Agreoment or the Annuity contains this or similar
language, As such, you understand and agree that you will never claim or assert that the payments you
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Jun-11, 2012 3:33PM Stonestreet Capital No.4853 P. 7
are now selling were not transferable, or that this language renders this Agreement void.
18. Arbitration of Disputes sfter Cloalk, . Once your transaction has closed, any claim or dispute
("Claim") by either you or us against the other, or against the employees, agents, successors or assigns
of the other, arising from or relating in any way to this Agreement or any prior agreement (whether
under a statute, in contract, tort, or otherwise and whether for money damages, penalties or declaratory
or equitable reliet) including Claims regarding the applicability of this arbitration clause or the validity
of the entire Agreement or any prior agreement, shall be resolved by mandatory binding arbitration. For
matters that could be brought in your local small claims court, you have the option of proceeding in the
small claims court rather than proceeding in arbitration. This arbitration provision cannot be used to
bypass state and federal laws requiring court approval of this transaction. The arbitration shall be
conducted by JAMS Arbitration ("JAMS") under the Code of Procedure in effect at the time the Claim
is filed. JAMS Rules and forms may be obtained and Claims may be filed at any JAMS office, online at
gv3M.1amsadr.or , or by telephone 1-800-352-5267, You will have the right to counsel, the right to be
heard In front of a neutral arbitrator, and you will have the opportunity to participate in the selection of
the arbitrator. You will retain all the remedies that you are afforded under local, state and federal law,
no arbitration shall take place in your hometown or in the YAMS office closest to where you are
located. The arbitrator shall apply the low of the jurisdiction where we sought court approval of this
Agreement. We or you may, upon approval of the other, substitute another nationally recognized,
independent arbitration organization that uses a similar code or procedure. This arbitration agreement is
made pursuant to a transaction involving interstate commerce, and shall be governed by the federal
Arbitration Act, 9 U.S.C. §§ 1-16 ("FAA"), Any arbitration award shall be final, and judgment upon the
award may be entered in a court having jurisdiction. No Claim submitted to arbitration is heard by a
jury, and no Claim may be brought as a class action or as a private attorney general. You do not have
the right to act as a class representative or participate as a member of a class of claimants with respect to
any Claim.
19. Construction of this Agreement. All of the headings contained in this Agreement are for
convenience only, They are not part of this Agreement, and that shall not affect its meaning,
construction or interpretation, This Agreement, the Disclosure Statement, and the attached eghibils
make up the entire agreement between you and Stone Street and replace all prior arrangements and
understandings, written or spoken, If we amend this Agreement, the terms of the amendment shall
control over terms that set forth herein.
20. Severability, Should any provisions of this Agreement is held to be invalid, illegal;
unenforceable or in conflict with the law of any jurisdiction, that provisions shall be deemed to be
modiffcd to the extent necessary to render it lawful and enforceable. If such a modification is not
possible, that provisions shall be severed from the Agreement and shall not in any way affect or impair
the validity, legality and enforceability of the remaining provisions in this Agreement.
21. Future Aminnmeal By Stone Street. Stone Street (and any future assignee) may assign all of
its right, title, and interest in and to this Agreement, the other related documents, the Annuity, and the
Assigned Payments either before or after the closing and without any requirement of prior consent from
Or notice to you.
22. Anolicable LAW. Except as otherwise required by applicable statutory law, this Agreement shall
be governed by and interpreted in accordance with the law of the jurisdiction where we sought court
approval of this Agreement.
9 Z/C 'd ZIZ? '°N MN 7I?1V3? 11 d0C? :Z. ZI',,Z '?. 'uI
IN TIIE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY,
PENNSYLVANIA
PETITION OF STONE STREET CAPITAL, )
LLC TO TRANSFER STRUCTURED ) No.
SETTLEMENT PAYMENT RIGHTS )
PAYEE'S AFFIDAVIT IN SUPPORT OF PETITION
TO TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS
1, Dorothy Strine, the Payee, verify that the statements below are true and correct.
1. Payee's name, address and age: Dorothy Strine. 167 Ken Lin Drive Carlisle, PA
17015. 57 vicars old.
2. Marital Status:
Never Married; Married; Separated; X Divorced
If married or separated, name of spouse: N/A
3. Minor children and other dependents:
Names, ages, and places of residence: NA
4. Income:
(a) Payee's monthly income and sources: $2,500/month - employee of
a bank.
(b) If presently married, spouse's monthly income and sources: NA.
r?Cn
5. Child support, alimony or alimony pendente cite:
Obligation to pay: Yes X No.
If yes, state the amount of the obligation, to whom payable. and whether there are
arrearages: ***To the best of my knowledge. I do not currently have any child support
arrearages.
6. Previous transfers:
Have you previously tiled a petition to transfer payment rights under the
structured settlement that is the subject of this petition? X Yes 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: No. 08-1355, 2010-00267,
Court of Common Pleas of Cumberland County Civil Division
(Pennsylvania). approved
(b) If the transfer was approved,
(1) State the name of the transferee and identify (listing due
dates and payment amount(s)) the payments involved in the
transfer: Peachtree, $900 through 11/1/2013 and $750 from
12/1/2013 through 12/1/2029.
(c) Have you ever transferred payments without court approval? If so,
please explain: No
7. Reasons for transfer:
Describe in detail your reasons for the proposed transfer. including an explanation
as to why a sale of a lesser amount of the structured settlement amount will not better
serve your interests: I need to pay off three high interest credit cards and other past due
obligations and I cannot get approved for a consumer loan.
8. Payment of debts:
If you seek the transfer in order to pay debts, list each debt, including the name of
the creditor and the amount presently owed:
Debt Creditor Amount Owed
credit card Discover $3000.00
credit card Kohls $800.00
credit card Fashion Bug $ 300.00
Verification
I verify that the statements made in this affidavit are true and correct. I
understand that false statements herein are made subject to the penalties of 18 Pa.C.S.
§4904, relating to unswom falsifications to authorities.
DATE: r?? ?p d
Sig tune
J,jn,11. 2612 3:33PM Stooestreet Capital
DISCLOSURE STATEMENT
No. 4653 P, 8
This Disclosure Statement is being provided by Stone Street Capital, LLC ("Stone
Street") to you, Dorothy Strine, on June 8, 2012 in connection with your agreement
to transfer and assign to Stone Street Capital, LLC, or its assigns, certain structured
settlement payment rights.
1. Amounts and Due Dates of Payments to be Transferred. You will assign to
Stone Street all of your right, title and interest in and to 193 monthly life
contingent payments of $150.00 from December 1, 2013 through and
including December 1, 2029; and 90 monthly life contingent payments of
$900.00 from January 1, 2030 through and including dune 1, 2037 out of
those certain payments due under a certain Settlement Agreement.
2, Aggregate Amount of Payments Transferred, The aggregate amount of the
payments to be transferred to Stone Street totals $109,950,00,
3. Calculation of Current Value of the Transferred Structured Settlement
Payments Under Federal Standards for Vpluine Annuities. The Internal
Revenue Service discounted present value of the payments to be
transferred is $88,745.78 determined by discounting the future payments to
be transferred using a rate most recently published for determining the
present value of an annuity by the Internal Revenue Service, which rate is
1.20%. This is a calculation of the current value of the transferred
structured settlement payments under federal standards for valuing
annuities. THIS IS NOT THE RATE USED TO CALCULATE YOUR
PURCHASE PRICE. It is also not the market rate for transfers of annuity
payments of structured settlement payments.
4. Gross Amount Payable. The gross amount payable to you in exchange for
the transferred payments is $6,596.13.
5. Good Faith Estimate of Tees and Egaenses. You will be responsible for
paying the following commissions, fees, expenses, charges, and costs in
connection with the closing of this transaction: None
6. Net Amount Payable. The net amount payable to you in exchange for the
transferred payments is $6,596.13.
9?'i8 .d ?LZ?c 'ON
?Nv
Jun.11. 2012 3:34PM Stonestreet Capital
No. 4853 P. 9
7. uotient. The quotient (expressed as a percentage) obtained by dividing
the net payment amount by the discounted present value of the payments is
7.43% (#6 divided by #3).
8. Effective Annual Interest Rate. Based on the net amount that you will
receive from us and the amounts and timing of the structured settlement
payments that you are turning over to us, you will, in effect, be paying
interest to us At a rate of 25.00% per year.
9. Breach of Contract. The amount of any penalty and the aggregate amount
of any liquidated damages (inclusive of penalties) payable by the payee in
the event of any breach of the transfer agreement by the payee shall be:
None.
1O.Caneellation. You have the right to cancel the transfer agreement, without
penalty or further obligation, not later than the third day after you sign the
agreement.
11,Effective Date, Stone Street's commitment or obligation to enter into this
transaction is conditional and contingent upon the execution and your
return of this Disclosure Statement and execution of a Purchase, Transfer
and Assignment Agreement and related documents by all parties. The
effective date of the Purchase, Transfer and Assignment Agreement shall
be the date on which the transaction is closed and funded to you, which
date shall not, under any circumstances, be leas than ten (10) days after the
date of this Disclosure.
By signing this Disclosure Statement where provided below, you acknowledge and
agree that you have read and fully understand the foregoing Disclosure Statement,
that you have been advised by Stone Street to discuss the Disclosure Statement and
the details of the proposed transaction with your financial advisors and attorneys
and have been provided an opportunity to do so.
RECEIVED, AGREED AND ACKNOWLEDGED:
Do othy Stri
Z - /3- /,;L-
Date
00273609 PA
97/6 'd ZLZS '°N M9 DIdiN13 MH:6. Z10: '?. 'unP
Jun. 11. 2012 3:34PM Stonestreet Capital No. 4853 P. 10
IMPORTANT NOTICE;
You are strongly urged to consult with an attorney who can advise you of the
potential tax consequences of this transaction.
RECEIVED, AGREED AND ACKNOWLEDGED:
Do th Stri
-13
Date
9 6/00 'd ?L6c '°N ENV11 ?-' l
STATEMENT ON INDEPENDENT PROFESSIONAL ADVICE
Stone Street Capital, LLC is required by law to advise you of your right to consult
with an independent professional advisor regarding the legal, tax and financial
implications of the transfer of your structured settlement payment rights.
Acknowledgement
1, Dorothy Strine understand that I may consult with an independent professional
advisor and acknowledge that Stone Street has informed me of that right.
Choose one:
? 1 have received independent professional advice from
(an Attorney, Licensed Financial Planner or CPA) whose office is located at
, phone number (
regarding the legal, tax and financial implications of the transfer of my structured
settlement payment rights.
-OR-
I have knowingly and voluntarily chosen not to consult with an independent
professional advisor and hereby expressly waive the right to do so.
I am aware of the legal, tax and financial implications of the proposed transfer
and 1 desire to have the court approve the transfer of structured settlement payment rights
as described in the Purchase, Transfer and Assignment Agreement. .
Ay---,4"4 -' L
*roy t riae
flip"
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL DIVISION
IN RE:
JOINT PETITION FOR TRANSFER OF No.
STRUCTURED SETTLEMENT PAYMENT
RIGHTS BY
DOROTHY STRINE, PAYEE
And
STONE STREET CAPITAL,LLC,
CERTIFICATION OF COUNSEL
Ronald E. Reitz, attorney for Stone Street Capital, LLC,
hereby sets forth the following:
1. I, Ronald E. Reitz, am counsel of record in this
matter for Stone Street Capital, LLC.
2. Based on materials provided to me by Stone Street
Capital, LLC, and upon reasonable investigation and inquiry, the
transfer set forth in the within Joint Petition complies with
all requirements of the Structured Settlement Protection Act, 40
P.S. § 4001-4009, and does not contravene any applicable Federal
or State statute or regulation, or order of any court or
administ=rative authority.
3. This Certification is made to the best of my
knowledge, information and belief pursuant to Pa.R.C.P. 229.2.
&dE i tz
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL DIVISION
IN RE:
JOINT PETITION FOR TRANSFER OF
STRUCTURED SETTLEMENT PAYMENT
RIGHTS BY
DOROTHY STRINE, PAYEE
And
STONE STREET CAPITAL,LLC,
N
._... j -'
rrt ?
..
s= (7. - -T
INITIAL ORDER OF COURT
On this 2--2 day of y? 2012, it is ordered that a
hearing on this Joint Petition to Transfer Structured Settlement nn
Payment Rights will be held on ' 90Ain Courtroom at -vv N JA
o'clock. The payee shall bring income tax returns for the prior two
(2) years to the hearing.
Within seven (i) 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.
BYE COURT:
00
J.
No. ' a' -f 8, 53
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL DIVISION
IN RE: _ C= i
JOINT PETITION FOR TRANSFER OF No. 12-3853 row
N
-?
STRUCTURED SETTLEMENT PAYMENT r N
RIGHTS BY --?
? Z "°
DOROTHY STRINE, PAYEE 7
C?
Z -rri
7? p?
And
STONE STREET CAPITAL,LLC
NOTICE OF HEARING ON JOINT PETITION TO
TRANSFER STRUCTURED SETTLEMENT PAYMENT RIGHTS
TO:
Commonwealth of PA Medical Professional Liability
Catastrophe Loss Fund
1062 Lancaster Ave.
Rosemont, PA 19010
("Settlement Obligor")
Allstate Life Insurance Company
3100 Sanders Rd., N3A
Northbrook, IL 60062
("Annuity Issuer")
Sharon Ji, Senior Paralegal
Stone Street Capital, LLC
Structured Settlement Division
7316 Wisconsin Avenue, Suite 500
Bethesda, MD 20814
("Transferee")
Dorothy Strine
167 Ken Lin Dr.
Carlisle, PA 17015-9753
("Payee" )
You are hereby given notice that Dorothy Strine, and Stone
Street Capital, LLC, have filed a Joint Petition to Transfer
Structured Settlement Payment Rights. A hearing in this matter
is scheduled on Tuesday, July 31, 2012 at 11:00 a.m., before
Hon. Albert Maslund, Cumberland County Courthouse, Courtroom 1,
One Courthouse Square, Carlisle, Pennsylvania. A copy of the
Initial Order of Court is attached hereto and marked Exhibit "A".
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.
Pursuant to 40 P.S. §4003(a) (6), the Transferee's name,
address, and taxpayer identification number are:
Stone Street Capital, LLC
Structured Settlement Division
7316 Wisconsin Avenue, Suite 500
Bethesda, MD 20814
Taxpayer I.D. No. 20-8094548
1
Date
Stone Street Capital, LLC
Transferee
c/o Ronald E. Reitz
Margolis Edelstein
525 William Penn Place
Suite 3300
Pittsburgh, PA 15219
412-355-4969
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of this
NOTICE OF HEARING ON JOINT PETITION TO TRANSFER STRUCTURED
SETTLEMENT PAYMENT RIGHTS has been served by certified
mail, return-receipt requested on this 25th day of June 2012
on:
Commonwealth of PA Medical Professional Liability
Catastrophe Loss Fund
1062 Lancaster Ave.
Rosemont, PA 19010
("Settlement Obligor")
Allstate Life Insurance Company
3100 Sanders Rd., N3A
Northbrook, IL 60062
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Sharon Ji, Senior Paralegal
Stone Street Capital, LLC
Structured Settlement Division
7316 Wisconsin Avenue, Suite 500
Bethesda, MD 20814
("Transferee")
Dorothy Strine
167 Ken Lin Dr.
Carlisle, PA 17015-9753
("Payee")
MARGOLIS EDELSTEIN
By:
Ronald E. AgtpC?tz
Attorney for Transferee
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL DIVISION
IN RE:
JOINT PETITION FOR TRANSFER OF
STRUCTURED SETTLEMENT PAYMENT
RIGHTS BY
DOROTHY STRINE, PAYEE
And
No. a • 31S3 GM
STONE STREET CAPITAL,LLC,
INITIAL ORDER OF COURT
4... 77: _'7...
!lJ
On this --?"` day of , 2012, it is ordered that a
hearing on this Joint Petition to Transfer Structured Settlement
Payment Rights will be held on n Courtroom l atQ
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.
BY THE COURT: /,s/ 04'( T? ° J.
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUDA'Yf HE PR MQN ,l
PENNSYLVANIA f?TAn r
CIVIL DIVISION 2012JUL 30 PM 4: 12
r'11
STRUCTURED SETTLEMENT PAYMENT No. 12-3853
RIGHTS BY
DOROTHY STRINE,
PAYEE,
AND -
STONE STREET CAPITAL, LLC
AMENDED JOINT PETITION TO TRANSFER
STRUCTURED SETTLEMENT PAYMENT RIGHTS
AMENDED JOINT PETITION w PENNSYLVANIA
QCOUNTY
FOR TRANSFER OF Joint Petitioners, Dorothy Strine, and Stone Stree-
Capital, LLC, hereby submit the following Amended Joint Petitioi
to Transfer Structured Settlement Payment Rights pursuant to the
Structured Settlement Protection Act, 40 P.S. §§ 4001-4009 ("th(
Act"), and Pa.R.C.P. 229.2, and in support state:
Introduction
The parties previously filed a joint petition with thi;
Honorable Court, which is set for hearing on July 31, 2012. ThF
parties now wish to file the within Amended joint petition it
order to correct the name and address of the Settlement Obligor,
at paragraph 5, only, as follows (changes shown in bold type):
5. The obligation to make the monthly payments is held bi
The Mcare Fund, statutory successor/owner to the Medical
Professional Liability Catastrophe Loss Fund, the StructuredI
"'Settlement Obligor" as defined by 40 P.S. § 4002. The Mcarll
Fund, statutory successor/ owner to the Medical Professiona_
Liability Catastrophe Loss Fund, is located at 30 North 3r
Street, Harrisburg, Pennsylvania 17101.
WHEREFORE, Joint Petitioners, Dorothy Strine, and Ston(
Street Capital, LLC, pray that this Honorable Court grant thi:
Amended Joint Petition to Transfer Structured Settlement Paymeni
Rights.
Respectfully submitted,
Ma rgc
By:
525 William Penn Place
Suite 3300
Pittsburgh, PA 15219
rreitz@margolisedelstein.com
(412) 355-4969
Attorney for Transferee,
Stone Street Capital, LLC
PA I.D. No. 55408
CERTIFICATE OF SERVICE
I hereby certify that a true and correct copy of th
foregoing AMENDED JOINT PETITION TO TRANSFER STRUCTURE
SETTLEMENT PAYMENT RIGHTS was served by certified ail, return
receipt requested, postage pre-paid, on this ? Ny of July
2012 on:
The Mcare Fund, Statutory successor/ owner to the Medical
Professional Liability Catastrophe Loss Fund
30 North 3rd St .
Harrisburg, PA 17101
Attn: Robert A. McDermott, Claims Manager
("Settlement Obligor")
Allstate Life Insurance Company
3100 Sanders Rd., N3A
Northbrook, IL 60062
("Annuity Issuer")
and by regular U.S. mail, postage prepaid to:
Sharon Ji, Senior Paralegal
Stone Street Capital, LLC
Structured Settlement Division
7316 Wisconsin Avenue, Suite 500
Bethesda, MD 20814
("Transferee")
Dorothy Strine
167 Ken Lin Dr.
Carlisle, PA 17015-9753
("Payee")
M r li lstein
By:
d tz
525 William Penn Place
Suite 3300
Pittsburgh, PA 15219
(412) 355-4 96 9
Attorney for Transferee
IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA
CIVIL DIVISION
IN RE: JOINT PETITION FOR TRANSFER OF
STRUCTURED SETTLEMENT No. 12-3853
PAYMENT RIGHTS BY DOROTHY
STRIKE, PAYEE
And
STONE STREET CAPITAL, LLC,
ORDER
AND NOW, this /f
3! day of July, 2012, it is ordered that the Amended Joint Petition for
Transfer of Structured Settlement Payment Rights is granted.
The Court specifically finds that:
The payee, Dorothy Strine a/k/a Dorothy L. Strine ("Ms. Strine"), is entitled to
receive certain life-contingent payments (the "Life-Contingent Payments") under a structured
settlement agreement and related annuity contract no. 90600709. The Life-Contingent Payments
are not due and payable unless Ms. Strine is alive at the time each such payment is due.
2. Ms. Strine has established that the transfer is in the best interest of Ms. Strine and
her dependents, if any, taking into account the welfare and support of her dependents, if any.
Based on the certification by an attorney for the transferee, Stone Street Capital,
LLC ("Stone Street"), 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 responsible
administrative authority, or any applicable law limiting the transfer of workers' compensation
claims.
BE01/ 889456.2
4. The transfer complies with the remaining requirements of the Pennsylvania
Structured Settlement Protection Act, 40 P.S. § 4001 et seq., including sections 4003(a)(2),
4003(a)(4), 4003(a)(5), and 4003(a)(6).
Based upon the foregoing findings, IT IS HEREBY ORDERED that:
A. The payments that are to be transferred are designated as follows: monthly Life-
Contingent Payments each in the amout of $150.00, commencing on December 1, 2013 through and
including December 1, 2029; and monthly Life-Contingent Payments each in the amount of
$900.00, commencing on January 1, 2030 through and including June 1, 2037 (the "Assigned
Life-Contingent Payments").
B. Subject to all of the conditions set forth herein and in the parties' Stipulation
("Stipulation"), Allstate Life Insurance Company ("Allstate Life") shall forward the Assigned
Life-Contingent Payments, within 7 days of the date due, to Stone Street's designated assignee,
Compass Settlements LLC ("Compass"), by check made payable to "Compass Settlements
LLC," at P.O. Box 102558, Atlanta, GA 30368 (the "Designated Address"), as follows: monthly
Life-Contingent Payments each in the amout of $150.00, commencing on December 1, 2013
through and including December 1, 2029; and monthly Life-Contingent Payments each in the
amount of $900.00, commencing on January 1, 2030 through and including June 1, 2037.
C. The obligation to make any of the Life-Contingent Payments ceases on Ms.
Strine's death. Nothing in the subject petition, the proposed transfer, the parties' Stipulation or
any other matter changes the fact that each of the Life-Contingent Payments, including the
Assigned Life-Contingent Payments, is owed only if Ms. Strine is alive at the time each such
payment is due.
BE01/ 889456.2 _ 2
D. Stone Street and Compass shall provide to Allstate Life, at the time this Order is
submitted to Allstate Life, the parties' Stipulation, contemporaneously signed by Ms. Strine and
notarized, as written confirmation that Ms. Strine is alive (the "Initial Required Confirmation").
Beginning ninety (90) days after the date of the Initial Required Confirmation, and every ninety
(90) days thereafter, and at any time upon reasonable request of Allstate Life, until the due date
of the last Assigned Life-Contingent Payment, Stone Street and Compass shall provide Allstate
Life with written confirmation, contemporaneously signed by Ms. Strine and notarized, that Ms.
Strine is alive (the "Required Confirmation"). Each Required Confirmation will be sent to Lisa
Sterner, Allstate Life Insurance Company, 3100 Sanders Road, N3 A, Northbrook, IL 60062 (or
such other Allstate Life representative and/or address subsequently designated by Allstate Life in
a written notice to Stone Street and Compass). Ms. Strine, Stone Street, and Compass shall
cooperate with one another and with Allstate Life for the purpose of providing each Required
Confirmation. In the event Stone Street and Compass acquire information indicating that Ms.
Strine has died, Stone Street and Compass shall immediately provide Allstate Life with this
information in writing directed to Allstate Life at the address listed above (or to any designated
successor Allstate Life representative or address).
E. If Stone Street and Compass fail to provide the Required Confirmation that Ms.
Strine is alive, or if Allstate Life has any reasonable basis to believe that Ms. Strine has died,
Allstate Life may cease making the Life-Contingent Payments, including the Assigned Life-
Contingent Payments, until Allstate Life has received the Required Confirmation of Ms. Strine's
survival.
F. To the extent any of the Life-Contingent Payments are made by Allstate Life to
Compass after the death of Ms. Strine, Compass will reimburse Allstate Life with funds in the
DE01/ 889456.2 _ 3
amount of such Life-Contingent Payments, plus interest at 6% per annum from the date the funds
were paid through the date reimbursement is tendered.
G. Compass is authorized to make subsequent assignments or transfers of the
Assigned Life-Contingent Payments (a "Reassignment") except that, regardless of any such
Reassignment, the Assigned Life-Contingent Payments will continue to be serviced by Compass
(or an agent on its behalf). In other words, the Assigned Life-Contingent Payments will continue
to be made by Allstate Life to Compass at the Designated Address only, regardless of any
Reassignment. However, if for reasons beyond the control of Compass, or due to Compass being
merged with or acquired by another entity, or for traditional address change purpose the
Designated Address is no longer valid (i.e., if Compass moves or for other reasons the
Designated Address is no longer a viable address for Compass to receive payments), Allstate
Life agrees to make the Assigned Life-Contingent Payments to a new payee and/or payment
address. Notwithstanding the foregoing, this Order and the parties' Stipulation will remain
binding and fully enforceable against Stone Street, Compass, and Ms. Strine.
H. All remaining Life-Contingent Payments (and/or portions thereof), if any, that are
not the subject of the proposed transfer and not previously assigned, shall be made payable to
Ms. Strine and will be forwarded by Allstate Life, if and when due, to Ms. Strine's most recent
known address or any payment address designated by Ms,. Strine, subject to the consent of
Allstate Life and the annuity owner, Medical Care Availability and Reduction of Error Fund
("Mcare").
I. Stone Street and Compass shall defend, indemnify, and hold harmless Allstate
Life and Mcare and their respective directors, shareholders, officers, agents, employees, servants,
successors, and assigns, and any parent, subsidiary, or affiliate thereof, and their directors,
BE01/889456.2 - 4
shareholders, officers, agents, employees, servants, successors, and assigns, past and present,
from and against any and all liability, including but not limited to costs and reasonable attorneys'
fees, for any and all claims asserted by any person or entity, including but not limited to any
claims asserted by any person or entity not a party hereto, claiming an interest in the Assigned
Life-Contingent Payments, and any and all other claims made in connection with, related to, or
arising out of the Purchase, Transfer and Assignment Agreement between Stone Street and Ms.
Strine, the proposed transfer, the Assigned Life-Contingent Payments, any Reassignment, or
Allstate Life's compliance with the parties' Stipulation or Allstate Life's and Mcare's
compliance with this Order, except with respect to claims by Stone Street and Compass against
Allstate Life to enforce Allstate Life's obligations to Stone Street and Compass under the parties'
Stipulation. To the extent Stone Street or Compass fails to honor this indemnification and
defense obligation, Allstate Life and Mcare may, in addition to all other remedies afforded by
law, satisfy the same by withholding to their own credit any remaining Assigned Life-Contingent
Payments.
Allstate Life's lack of opposition to this matter, or its or the other parties'
stipulation hereto or compliance herewith, shall not constitute evidence in this or any matter, and
is not intended to constitute evidence in this or any matter, that:
(a) payments under a structured settlement contract or annuity or related
contracts can be assigned or that "anti-assignment" or "anti-encumbrance"
provisions in structured settlement contracts or annuities or related
contracts are not valid and enforceable; or
(b) other transactions entered into by Stone Street and/or Compass and their
customers constitute valid sales and/or loans; or
(c) Allstate Life has waived any right in connection with any other litigation
or claims; or
(d) Stone Street or Compass has waived any right other than as expressly set
forth in the parties' Stipulation and/or this Order.
-
BE01/ 889456.2 -5
K. Ms. Strine shall receive from Stone Street the net amount of $6,596.13 from
which no funds are owed for counsel fees, administrative fees, or other costs, fees, or expenses.
J*-
DONE IN OPEN COURT this day of July, 2012.
Jude
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91
BE01/ 889456.2 _ 6