HomeMy WebLinkAbout13-5776 FOX ROTHSCHILD LLP "I`— 1 F?0Tr'uNU i�iliy
BY: SAMUEL W. CORTES,ESQUIRE
IDENTIFICATION NO.: 91494 ; j;l {CT ja
EAGLEVIEW CORPORATE CENTER _ to
747 CONSTITUTION DRIVE, SUITE 100 CL� � Cr LA114D C 0 U N T Y
P.O. BOX 673 pr Ekp 1.,,,,
EXTON,PA 19341-0673 ATTORNEYS� &$k PETITIONER
(610)458-7500 SENECA ONE,LLC
IN RE: BRANDEN HIPPENSTEEL ; IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY,
PENNSYLVANIA
CASE NO.
JOINT PETITION FOR COURT APPROVAL OF A
TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
TO THE HONORABLE JUDGES OF THIS COURT:
Petitioners, Seneca One, LLC, and Branden Hippensteel, hereby jointly petition this
Court for approval of a transfer of structured settlement payment rights pursuant to the
Pennsylvania Structured Settlement Protection Act, 40 P.S. § 4001 et se . (the "Act"), and, in
support, state as follows:
1. Branden Hippensteel ("Payee") is an adult individual who resides at 39 Faith
Circle, Carlisle, Pennsylvania 17013.
2. Seneca One, LLC ("Seneca One"), is a Maryland limited liability company, which
has a primary place of business at 7920 Norfolk Avenue, Suite 300, Bethesda, Maryland 20814,
and bears a tax identification number of 20-0426098.
3. Pursuant to a settlement of a wrongful death (the "Settlement"), Payee became
entitled to receive the following periodic payments:
• One hundred twenty (120) monthly payments in the amount of
$500.00, beginning with the payment due on or about March
11, 2007, continuing through and,including the payment due on
or about February 11, 2017;
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• One (1) lump sum payment in the amount of$146,650.00 due
on or about March 11, 2011;
• Three (3)payments made every five (5) years in the amount of
$146,650.00, beginning with the payment due on or about
March 11, 2014, continuing through and including the payment
due on or about March 11, 2024; and
• One (1) lump sum payment in the amount of$146,684.90 due
on or about March 11, 2029
(collectively, the "Periodic Payments").
4. American General Assignment Corporation("Obligor") is obligated to make the
Periodic Payments pursuant to the Settlement.
5. Obligor funded the obligation by purchasing from Western National Life
Insurance Company f/k/a AIG Annuity Insurance Company ("Annuity Issuer") annuity contract
number 404,483 (the "Annuity").
6. Pursuant to the Annuity, Annuity Issuer makes the Periodic Payments required of
Obligor pursuant to the Settlement directly to Payee.
7. Desiring to receive a lump sum payment in lieu of certain Periodic Payments that
Payee would otherwise receive pursuant to the Settlement and Annuity, Payee has agreed to
transfer to Seneca One and its successors and assigns the following:
• Thirty-nine (39) monthly payments in the amount of$500.00,
beginning with the payment due on or about December 11,
2013, continuing through and including the.payment due on or
about February 11, 2017;
• One (1) lump sum payment in the amount of$6,650.00 due on
or about March 11, 2019;
• One (1) lump sum payment in the amount of$4,650.00 due on
or about March 11, 2024;
• One (1) lump sum payment in the amount of$36,684.90 due
on or about March 11, 2029;
22630595v1 2
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(the "Assignment Payments").
8. On September 20, 2013, Payee executed a Transfer and Assignment Agreement
(defined as "Transfer Agreement"under 40 P.S. § 4002)to effect the transfer of the Assigned
Payments. A true and correct copy of the Transfer Agreement is attached and incorporated as
Exhibit A.
9. Seneca One timely provided to Payee a Disclosure Statement, as required by 40
P.S. § 4003(a)(2), more than ten (10) days prior to the date on which Payee was first to incur any
obligation with respect to the transfer. True and correct copies of the Disclosure Statement are
attached as Exhibit B.
10. The aggregate total of the Assigned Payments is $67,484.90.
11. The gross payment to Payee is $17,019.52.
12. The net payment to payee is $17,019.52.
13. Based on the net amount that Payee will receive from this transaction (i.e.
$17,019.52) and the timing of the structured settlement payments that would be assigned, Payee
is, in effect, paying interest at a rate of 24.927%per year.
14. Payee has been provided with the required "IMPORTANT NOTICE" in the form
and manner prescribed by 40 P.S. § 4003(3)(b). A true and correct copy of the notice is attached
hereto and incorporated as Exhibit C.
15. Payee has duly executed a separate written acknowledgment which acknowledges
that Payee has waived the opportunity for independent legal advice. A true and correct copy of
the acknowledgment is attached and incorporated as Exhibit D.
16. Payee is single with 2 minor children. See Affidavit of Branden Hippensteel,
attached hereto and incorporated as Exhibit E.
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17. If approved, Payee will use the proceeds from this transfer to open up a business.
See id.
18. Payee has previously transferred a portion of his/her structured settlement
payment rights. See id.
19. Timely written notice of the transfer and transferee's name, address, and taxpayer
identification number was provided to the Annuity Issuer and the Obligor. A true and correct
copy of the Notice of Assignment is attached hereto and incorporated as Exhibit F.
20. Additionally, the Annuity Issuer and Obligor have also been timely provided with
a copy of the instant Petition, the exhibits hereto, and the proposed form of Order. See
Certificate of Service attached hereto.
21. The transfer complies with the requirements of 40 P.S. § 4001 et s_g., and does
not contravene any other applicable federal or state statutes or the order of any court or
responsible administrative or governmental authority or any applicable law limiting the transfer
of workers' compensation claims.
22630595vl 4
responsible administrative or governmental authority or any applicable law limiting the transfer
of workers' compensation claims.
17. The transfer is in the best interest of Payee, taking in account the welfare and
support of Payee's dependents, if any.
WHEREFORE, having satisfied all applicable statutory requirements for the transfer of
the structured settlement payment rights identified in this Petition, Petitioners respectfully
request that this Court grant the instant Petition and enter the attached Order.
Respectfully submitted,
BRANDEN HIPPENSTEEL
z,�,z ?Aft- �-d 5- -- 1--�
Branden Hippensteel
FOX ROTHSCHILD LLP
Samuel W. Cortes, Esquire
Attorneys for Joint Petitioner
Seneca One, LLC
5
EX 1254259v2 01/10/13
a
VERIFICATION
I, Branden Hippensteel, verify and state that the facts contained in the foregoing Joint
Petition for Approval of a Transfer of Structured Settlement Payment Rights and the exhibits
thereto are true and correct to the best of my knowledge, information and belief. I make this
Verification subject to 18 Pa. C.S.A. § 4904, relating to penalties for unsworn falsification to
authorities.
31-4 9-) 5--/3
Branden Hippensteel
EX 1254259v2 01/10/13
„ s
VERIFICATION
I, Mike Fazzari, am the Director of Structured Settlement Legal and Advisory Counsel
for Seneca One, LLC, and am familiar with the file that Seneca One, LLC, maintains for
Branden Hippensteel and am authorized to make this Verification. I verify and state that the
facts contained in the foregoing Joint Petition for Approval of a Transfer of Structured
Settlement Payment Rights and the exhibits thereto are true and correct to the best of my
knowledge, information and belief. I make this Verification subject to 18 Pa. C.S.A. § 4904,
relating to penalties for unsworn falsification to authorities.
Mike Fazzari
EX1 1254259v2 01/10/13
n
ATTORNEY CERTIFICATION
I, Samuel W. Cortes, Esquire, attorney for Seneca One, LLC hereby certify that, to the
best of my knowledge, information and belief, formed after reasonable inquiry, that the transfer
will comply with the requirements of the Act and will not contravene any other applicable
federal or state statute or regulation or the order of any court or administrative authority.
FOX ROTHSCHILD, LLP
Samuel W. Cortes, Esq.
Attorney for Petitioner Seneca One, LLC
Dated: lq41 r 3
8
EX1 1254259v2 01/10/13
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TRANSFER AND ASSIGNMENT AGREEMENT
This Transfer and Assignment Agreement (this "Agreement"), dated and effective as of October
1, 2013, is being entered into by and between Branden Hippensteel ("Seller")who currently resides at
39 faith circle, Carlisle, PA 17013 and Seneca One, LLC, a Maryland limited liability company having
its principal place of business at 7920 Norfolk Avenue, Suite 300, Bethesda, MD 20814 (hereinafter
referred to as"Purchaser")_
NOW THEREFORE, for valuable consideration, the receipt of which is hereby acknowledged, the
parties agree:
At some time in the past, Seller or Seller's predecessor in interest, entered into an agreement in
connection with the settlement of a lawsuit or other claim (the"Settlement Agreement)_ Seller has told
Purchaser that Seller is entitled to receive certain payments due under the Settlement Agreement
(hereinafter referred to as the "Settlement Payments"). An entity (the "Settlement Obligor") agreed to
make the payments that are due to Seller under the Settlement Agreement. The Settlement Obligor
purchased and/or caused to be Issued by Western National Life Insurance Company (the "Annuity
Issuer"). Pursuant to the terms of the Annuity, the Settlement Payments are to be made to Seller on a
fixed schedule. Seller has agreed to assign to Purchaser, Seller's right to receive certain Settlement
Payments in exchange for the Purchase Price described below.
A. Purchase and Sale. Subject to the terms and conditions herein provided, Purchaser agrees to
pay Seller the sum of$17,019.52"Purchase Price"), and Seller hereby sells and assigns to Purchaser,
or its assignee, Seller's right, title and interest in and to Thirty-Nine (39) monthly payments in the
amount of $500.00 beginning with the payment due on or about December 11, 2013 continuing
through and including the payment due on or about February 11, 2017;One (1) lump sum payment in
the amount of$6650.00 due on or about March 11, 2019;One(1) lump sum payment in the amount of
$4650.00 due on or about March 11, 2024;One (1) lump sum payment in the amount of $36684.90
due on or about March 11, 2029; (the"Assigned Payments").
B. Conditions to be Satisfied prier to Closing The following must occur prior to Purchaser
paying Seller the Purchase Price: (1) Purchaser shall be satisfied, in its sole discretion, that there are
no claims or Interests of any kind or nature whatsoever that do or may affect Purchaser's rights to or
interest In the Assigned Payments and/or Purchaser's or its assign's ability to receive the Assigned
Payments in their entirety on the dates set forth herein; (2) Purchaser receives a non-appealable court
order that (a) directs the Settlement Obligor and Annuity Issuer to make the Assigned Payments to
Purchaser, or Its assigns; and (b) makes all findings required by applicable state and federal law (the
"Court Order"), and (3) the company making the Settlement Payments has acknowledged receipt of
the Court Order. Upon completion of the foregoing events, the Purchase Price will be paid to the Seller
(the"Closing").
C. Ri ht to Assl n. Purchaser may elect to assign this Agreement and/or its right, title, and
interest under this Agreement in the Assigned Payments to a third parry purchaser (an "Assignee")
and may effect such assignment by requesting that the aforesaid Court Order name such Assignee as
the recipient of the Assigned Payments. The obligations and rights of Purchaser may be further
assigned or otherwise transferred by Purchaser, provided that any assignee is bound by the terms and
conditions hereof. The obligations and rights of Seller under this Agreement may not be assigned or
otherwise transferred.
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D. Representations and Warranties of Seller. Seller represents and warrants as follows: (1)
Seller has full power and authority to enter into this Agreement and assign the Assigned Payments to
Purchaser; (2) No other person, firm or corporation claims a lien, right, title or interest of any kind in
the Assigned Payments; (3) Seller has no lawsuits pending or threatened against Seller and Seller is
not subject to any outstanding judgment, levy, claim or offset; (4) Seller has paid all federal, state and
local taxes due through and including the date hereof and Seller is not subject to any outstanding tax
liens; (5) Seller is not indebted for any child support arrearage or child support lien; (6) Seller has not
filed for bankruptcy and does not intend to file for bankruptcy; (7) Seller has reviewed and understands
the terms and effects of this Agreement and Seller is competent to enter into this Agreement; (8)
Seller has entered into this Agreement under Seller's own free will without undue influence or duress
and Seller is not entering into this Agreement under the influence of drugs or alcohol; (9) Purchaser
has disclosed to Seller and Seller understands that Purchaser is a wholly owned subsidiary of Seneca
One Finance, Inc.; (10) Seller is entering into this Agreement to sell the Assigned Payments to
Purchaser, and with respect to the sale of the Assigned Payments to Purchaser, Purchaser has
satisfied all Its obligations with respect to any guarantee or other promotional offer; and (11) All
information contained in the Application for Sale of Structured Settlement Payments is true and
correct. If any of these statements becomes untrue prior to the Closing (as defined herein), Seller
agrees to notify Purchaser in writing immediately. Seller hereby authorizes Purchaser or its agents or
assigns to conduct such credit and other searches as may be necessary in order to confirm the
foregoing with the understanding that all such reports and searches will be kept strictly confidential,
but may be used by Purchaser, its subsidiaries, affiliates and/or its assigns as necessary to complete
the intent of this Agreement.
E.Xhis Is Not 11 Loan. Purchaser and Seller acknowledge and agree that the sale and transfer
herein contemplated constitute a sale of the Assigned Payments, and not a loan, conveying good title
thereto free and clear of any liens and encumbrances from the Seller to Purchaser. In connection with
the rights granted to Purchaser hereunder, Seller hereby grants a security interest in, all of Seller's
right, title and interest in and right to receive all of the Assigned Payments to Purchaser, or its assigns,
to the extent such grant is permitted under applicable law. In addition, Seller authorizes Purchaser, its
subsidiaries, affiliates and/or its assigns to make all filings and to take all other actions that Purchaser
and/or its assigns, in its discretion, deems necessary or proper to complete the transactions
contemplated hereby and to perfect the sale of the Assigned Payments including, without limitation,
filing a UCC-1 against the Assigned Payments.
F. Events of Default, Seller understands that the following events shall be deemed to a default
by Seller under this Agreement: (a) Seller's death; (b) Seller's insolvency or the appointment of a
custodian, trustee, liquidator or receiver for Seller or Seller's assets; (c) an assignment for the benefit
of Seller's creditors or the filing of a petition under bankruptcy, insolvency or debtor's relief laws by or
against Seller; (d) failure by the Settlement Obligor or Annuity issuer to make any one or more of the
Assigned Payments as a result of any act by Seller, Seller's estate or any of Seller's heirs; (e) Seller's
failure to comply with any term or condition set forth in this Agreement; or (f) a representation or
warranty made by Seller turns out to be materially false.
G. Beneflclaries., Seiler acknowledges that Purchaser, or its assigns, is entitled to receive the
Assigned Payments — to the exclusion of any beneficiary, heir executor, representative or dependent
of Seller — even if Seller is no longer living at the time when the payments come due. Seller shall
execute and deliver a separate writing which designates Seller's estate as the beneficiary of the
Assigned Payments and shall execute and sign any document, agreement, waiver, beneficiary
change, or other document to reflect, evidence, and confirm that Purchaser, or its assigns shall be
entitled to receive the Assigned Payments to the exclusion of Seller and/or Seller's heirs,
beneficiaries, representatives, dependents, and executors. In the event Seller's death occurs during
the course of this transaction,this
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Agreement is and shall be deemed a "Testamentary Agreement' in which Seller agrees, for all time, to
name Purchaser, or its assigns, as the parry that will inherit the Assigned Payments. Seller cannot and
will not amend, modify, alter or otherwise change the beneficiary designation or this Testamentary
Agreement without Purchaser's express prior written consent.
H. Adjustment of Purchase Price: Advances; Satisfaction of Judaments. Seller
acknowledges and agrees that the purchase Price may be adjusted, if necessary, by subtracting an
amount equal to the sum of (1) all Assigned Payments received by Seller after the date of this
Agreement and prior to the Closing; plus (ii) any payments and advances made to Seller or made on
behalf of Seller to a third party at or prior to the Closing. Any advances and payments to third parties
by Purchaser shall be made, if at all, in Purchaser's sole and absolute discretion. In the event that any
charges, encumbrances,judgments(including, without limitation, any pledges or assignments) liens or
other claims against the Seller or the Assigned Payments should arise or be disclosed, then Seller
may be required to satisfy these obligations at Closing. Seller agrees that any disbursements required
for these satisfactions shall be paid from the purchase Price prior to any disbursement to Seller. In the
event Purchaser elects to disburse some or all of the Purchase Price prior to obtaining all reports
identifying charges, encumbrances, judgments, liens or other claims, Seller hereby agrees that
Purchaser, or its assignees, may hold back from the disbursement two (2) times the total of such
charges, encumbrances, judgments, liens or other claims as reasonably estimated by Purchaser. In
such event, Seller will execute any and all documentation reasonably requested by Purchaser to
Identify the amounts to be withheld and consent to such withholding.
I. Waiver of Restrictions on Assianabillity. Seller acknowledges that Seller's Settlement
Agreement may have been entered into prior to the enactment of the Pennsylvania Structured
Settlement Protection Act (the "Pennsylvania Transfer Statute'). Accordingly, Seller's Settlement
Agreement may contain a provision or provisions restricting or purporting to restrict Seller's right to
assign. Seller, on behalf of Seller, and Seller's heirs, beneficiaries, executors, administrators,
successors, and legal representatives, hereby waives and releases any such restriction. Furthermore,
Seller agrees and covenants that Seller shall not raise, assert or claim any such rights or restrictions
against Purchaser in the future.
J. Continuing Cooperation. upon Seller's execution of this Agreement, Purchaser and Seller
shall cooperate in commencing a legal action with the appropriate court seeking the court approval
required by the Pennsylvania Transfer Statute. Seller agrees to cooperate in taking all actions to
facilitate the consummation of the transaction contemplated under this Agreement, including
appearing in the contemplated court action as a party thereto. Seller agrees to execute and deliver at
any time any additional instruments and documents promptly and to do any acts or things as may be
necessary or expedient to effectuate the terms and conditions of this Agreement, including obtaining,
providing and filing any court documents necessary to obtain a Court Order approving the assignment
contemplated by this Agreement. Seller hereby authorizes Purchaser to correct any typographical
errors or to make any ministerial revisions to this Agreement and to any other supporting documents
signed by Seller If such revisions are necessary to effectuate the terms and conditions of this
Agreement. Seller also agrees to notify Purchaser in writing of any delay in performance or changes to
the Assigned Payments, and to furnish to Purchaser all information received by Seller regarding the
Assigned Payments.
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K. Governing Law: 'Venue.This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of Pennsylvania . Disputes under this Agreement, including any
claim that the Seller breached this Agreement, shall be determined in and under the laws of the State
of Pennsylvania . Any action to enforce any right by either party under this Agreement shall be
commenced in Pennsylvania .
L. Holdback, Purchaser, or its assigns, shall, in its discretion, withhold an amount from the
Purchase Price equal to the amount of the payments to be paid within six months of the Closing, or
the amount of the first assigned lump sum payment, until such time as the first payment is received by
Purchaser or its assigns. Within five business days after receipt of the first payment, Purchaser, or its
assigns, shall release any funds withheld from the Purchase Price to Seller. Purchaser, or its assigns,
shall have the right to retain funds sufficient to cover any payments not received.
M. General Prov_islons. (1) This Agreement may be executed in two or more counterparts, each
of which shall be deemed an original and all of which together shall constitute one and the same
Agreement; (2)The section headings contained in this Agreement are for reference only and shall not
affect in any way the meaning or interpretation of this Agreement; (3) In the event an action is
commenced In any forum to enforce the rights of a party to this Agreement,then the prevailing party in
such action shall be entitled to all reasonable attorney's fees and costs incurred to the extent
permitted by law; (4)This Agreement may be amended or modified, and performance of any covenant
or agreement herein contained may be waived or modified only by an Instrument signed by the parties
hereto, The waiver or modification by a party of performance or of a breach of any provision of this
Agreement shall not operate or be construed as a waiver of any subsequent or other performance or
breach thereof; (S) This Agreement constitutes the entire agreement and understanding of the parties
with respect to the matters and transactions contemplated hereby and supersedes any and all prior
agreements and understandings with respect thereto. No representations have been made, or relied
upon, by either party except those set forth in this Agreement; (6) Except for notice pursuant to section
P, notice shall be deemed to have been duly given three (3) business days after having been mailed
by certified or registered mall, return receipt requested, or upon delivery if delivered by a nationally
recognized overnight delivery service, such as Federal Express. All notices shall be mailed to the
addresses set forth at the beginning of this Agreement.All notices mailed to Purchaser shall be sent to
the attention of the Processing Group; (7) Seller acknowledges and agrees that the obligations under
this Agreement shall be binding upon Seller, Seller's heirs, personal representatives, transferees,
successors, estate and assigns; and (8) If any provision of this Agreement is found to be invalid or
unenforceable, the validity or enforceability of any other provision of this Agreement shall not be
affected thereby.
N. Special Irrevocable Durable Power of AttornCv Seller hereby grants Purchaser, or its
assigns, a Special Irrevocable Durable Power of Attorney with full power of substitution, to act in
Seller's name, place and stead regarding the Assigned Payments, including, without limitation, the
authority to negotiate, endorse and execute checks, drafts and other instruments in Seller's name, the
power to alter, edit and change payment instructions and/or beneficiary designations and any other act
it deems necessary to obtain all the benefits of the bargain contemplated by this Agreement. This
durable power of attorney shall be coupled with an interest, and shall survive Seller's death, disability,
incompetence or incapacity. Seller declares this durable power of attorney to be irrevocable and
renounces all right to revoke it or appoint any other person to perform the acts referred to in this
provision_
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5
O. Independent Advice. purchaser advises Seller to seek independent professional advice
regarding the transaction contemplated by this Agreement. Seller(1) has had the opportunity to
receive legal, tax, financial, accounting and/or business or personal advice regarding the
transaction contemplated by this Agreement from Seller's own legal, tax, financial accounting
and/or other advisors and has either received such advice or has knowingly and voluntarily
waived and declined the opportunity to seek such advice; (il) Seller has not received any
financial, accounting, tax, legal, business, or other advice from the Purchaser; (iii) Seller has
not relied on any representations or statements made by Purchaser, Purchaser's agents or
attorneys In connection with this transaction of the tax consequences hereof and (iv) Seller
has relied solely upon the advice of Seller's own financial, tax, legal, business and other
advisors in entering into this Agreement. Seller further acknowledges that Seller is fully aware
of the economic consequences of the transaction contemplated by this Agreement. This Is an
Important financial transaction and Seller should consult with his/her own advisors regarding
said transaction.
P. Servlcing Arrangement. In the event Seller is selling less than the entire amount of any
individual Settlement Payment,the Settlement Obligor, the Annuity'lssuer or the Court may require, or
it may otherwise be necessary or convenient, that Purchaser, or its assigns, receive the entire
Settlement Payment and assume the obligation to remit any unassigned portion of such Settlement
Payment to Seller. Should such a situation arise, Seller authorizes and directs Purchaser, or its
assigns, to receive the entirety of each Settlement Payment affected, and remit the unassigned portion
of each such Settlement Payment to Seller (the "Servicing Arrangement"). Seller acknowledges,
understands and agrees that (1) the Servicing Arrangement may reduce the financability or
assignability of the unassigned portion of any affected Settlement Payment; (2) Purchaser has paid
Seller fair and adequate consideration for the Assigned Payments, including the negative impact, If
any, that the Servicing Arrangement may have upon the financability or future assignability of the
unassigned portions of Settlement Payments of which the Assigned Payments are a part; (3) it shall
be Seller's sole and exclusive responsibility to notify Purchaser, or Its assigns, by written notice, of the
address to which the unassigned portion of the Settlement Payments is to be forwarded; (4) with
respect to any unassigned portion of any Settlement Payment affected by the Servicing Arrangement,
Purchaser's, or its assign's, obligations and liability under the Servicing Arrangement shall be satisfied'
upon deposit of a check in the amount of the unassigned portion of such Settlement Payment in the
United States Mail, UPS, FedSx or similar overnight delivery service, postage or fee prepaid,
addressed to the last known address for Seller; and (5) the Servicing Arrangement will result in a
delay in Seller's receipt of the unassigned portion of the Settlement Payments affected by the
Servicing Arrangement.
[Signatures and Acknowledgment on Following Page]
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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly
authorized representatives effective as of the date first set forth above.
SELLER:
SEAL)
Branden Hippensteel
The foregoing Agreement, and specifically the Special Irrevocable Durable power of Attorney in
provision N., was acknowledged before me this day of Oc a er, 2013 by Branden Hippensteei ,
who Is personally known to me or has produced C type of identification)as
identification and who did take an oath.
(elgn name}
NOTARIAL SEAL
LISA A SEAY
Notary Public (printname)
CITY OF HARRISBURG, DAUPHIN COUNTY
My Commissiori Expires Jul 24,2015
NOTARY PUBLIC, State of
My Commission Expires:
PURCHASER:
Seneca One, LLC:
BY: (SEAL)
Douglas J. Heck
Authorized Representative
Seneca One Finance, Inc.
6
0x/01/2011 00:10 7172383991 BLUE CHIP PAGE 24/43
DISCLOSURE STATEMENT
This Disclosure Statement is being provided by Seneca One, LLC
("Purchaser") to Brandon Hippensteel ("Seller") in connection with
Seller's agreement to transfer and assign to Purchaser certain
structured settlement payment rights due to Seller. This
Disclosure Statement is being provided pursuant to Pennsylvania
law.
1. Schedule of Payments Transferred:
Seller is transferring all of Seller's right, title and interest in
the following payments to Purchaser:
Thirty-Nine (39) monthly payments in the amount of$500.00
beginning with the payment due on or about December 11,
2013 continuing through and including the payment due on or
about February 11, 2017;One'(1) lump sum payment in the
amount of $6650.00 due on or about March 11, 2019;One (1)
lump sum payment in the amount of $4650.00 due on or about
March 11, 2024;One (1) lump sum payment in the amount of
$36684.90 due on or about March 11, 2029;
2. Aggregate Amount of Payments Transferred:
$67,484.90
3. Gross Amount to Seller:
$17,019.52
01/01/2011 00:10 7172383991 BLUE CHIP PAGE 25/43
4. Transfer Ex enses:
Seller will be responsible for the following commissions, fees,
expenses, and charges in connection with the closing of this
transaction:
None $0.00
5. Net Amount to Seller: $17,019.52
Seller understands that Seller will receive the Net Advance
Amount less (i) any advances made to Seller or on Seller's
behalf by Purchaser; and (ii) any amounts necessary to satisfy
any outstanding liens, judgments, and credit-based
obligations, pursuant to the terms of the transfer agreement.
6. Discounted Present Value of the Transferred Payments:
The calculation of current value of the transferred structured
settlement payments is $55,501.42 using the applicable federal
rate of 2.000%.
7. Quotient:
$179019.52 = $55,501.42 = 30.670%
Net Amount Payable divided by the Present Fair Market Value
8. Penalty in the Event of Breach of Contract:
The amount of any penalty or liquidated damages, payable to
Purchaser by Seller in the event the transfer agreement is
breached by Seller shall be ZERO Dollars ($0.00).
■
01/01/2011 00:10 7172383991 BLUE CHIP PAGE 26/43
9. Independent Professional Advice:
You are advised to seek independent professional advice
regarding the transfer.
10.Acknowledgment of Disclosure Statement:
Seller acknowledges that this disclosure statement was
provided at least ten days prior to becoming obligated under a
transfer agreement.
[Signature on Fallowing Page]
01'/01/2011 00:10 7172383991 BLUE CHIP PAGE 27/43
i, Brandon Hippensteel, acknowledge and confirm that I have read
this Disclosure Statement and understand the transaction and
believe that the terms of the transaction are fair and reasonable
and that the transaction is in my best interest.
Branden Hippensteel
02/01/2011 00:10 7172383991 BLUE CHIP PAGE 28/43
DISCLOSURE STATEMENT
This Disclosure Statement is being provided by Seneca One, LLC
("Purchaser") to Branden Hippensteel ("Seller") in connection with
Seller's agreement to transfer and assign to Purchaser certain
structured settlement payment rights due to Seller. This
Disclosure Statement is being provided pursuant to Texas law.
1. Schedule.of Payments Transferred:
Seller is transferring all of Seller's right, title and interest in the
following payments to Purchaser: Thirty-Nine (39) monthly
payments in the amount of $500.00 beginning with the payment
due on or about December 11, 2013 continuing through and
including the payment due on or about February 11, 2017;One
(1) lump sum payment in the amount of $6650.00 due on or
about March 11, 2019;One (1) lump sum payment in the amount
of $4650.00 due on or about March 11, 2024;One (1) lump sum
payment in the amount of $36684.90 due on or about March 11,
2029;
2. Aggregate Amount of Payments Transferred:
$67,484.90
3. Gross Advance Amount:
$17,019.52
01/01/2011 00:10 7172383991 BLUE CHIP PAGE 29/43
4. Transfer Expenses:
Seller will be responsible for the following commissions, fees,
expenses, and charges in connection with the closing of this
transaction: None $0.00
5. Net Advance Amount: $17,019.52
Seller understands that Seller will receive the Net Advance
Amount less (i) any advances made to Seller or on Seller's
behalf by Purchaser; and (ii) any amounts necessary to satisfy
any outstanding liens, judgments, and credit-based
obligations, pursuant to the terms of the transfer agreement.
6. Discounted Present Value of the Transferred Payment
The calculation of current value of the transferred structured
settlement payments under federal standards for valuing
annuities is $55,501.42 using the applicable federal rate of
2.000%.
7. Penalty in the Event of Breach of Contract:
The amount of any penalty or liquidated damages, payable to
Purchaser by Seller in the event the transfer agreement is
breached by Seller shall be ZERO Dollars ($0:00).
8. Right to Cancel the Transfer Agreement:
Seller understands that seller has the right to cancel the
transfer agreement, without penalty or further obligation, not '
later than the third business day after the date the agreement is
signed by Seller.
01/01/2011 00:10 7172383991 BLUE CHIP PAGE 30/43
9. Independent Professional Advice:
Seller is advised to seek independent professional advice
regarding the transfer from an attorney, certified public
accountant, actuary or other licensed professional adviser.
10.Acknowledgment of Disclosure Statement:
Seller acknowledges that this disclosure statement was
provided at least three days prior to signing the Transfer and
Assignment Agreement.
• 011/01/2011 00:10 7172383991 BLUE CHIP PAGE 31/43
I, Branden Hippensteel, acknowledge and confirm that I have read
this Disclosure Statement and understand the transaction and
believe that the terms of the transaction are fair and reasonable
and that the transaction is in my best interest.
Branden Hippensteel
01/01/2011 00:10 7172383991 BLUE CHIP PAGE 23/43
IMPORTANT NOTICE: You are strongly urged to consult with an
attorney who can advise you of the potential tax consequences of
this transaction.
Branden Hippensteel
01/01/2011 00:10 7172383991 BLUE CHIP PAGE 32/43
ACKNOWLEDGMENT OF PROFESSIONAL ADVICE
I, Branden Hippensteel , Seller under that certain Transfer and Assignment Agreement dated on or
about October 1, 2093(the"Transfer Agreement")hereby acknowledge,confirm,and agree that
Seneca One, LLC has advised me,in writing,to seek independent professional advice from an
attorney, certified public accountant, actuary,or other licensed adviser regarding the transaction
described in the Transfer Agreement.
I acknowledge that:(check one)
I have received professional advice.
1 have knowingly and voluntarily decided not to seek any professional advice regarding th
transaction with Seneca One, LLC
Branden Hippensteel
OT/01/2011 00:10 7172383991 BLUE CHIP PAGE 02/43
COURT OF COMMON PLEAS
IN;R.E: TRANSFER OF STRUCTURED Cumberland COUNTY
SETTLEMENT PAYMENT RIGHTS BY
Branden Hippensteel .
Payee's Affidavit in Support of
Petition to Transfer Structured Settlement Pi hts
1, Branden Hippensteel, the payee,verify that the statements below are true and
correct:
1.Payee's name,address and age: Branden Hi.ppensteel, 39'Faith,Circle Carlisle PA
17013. 1 am 24 years old.
2.Marital Status:
X Never Married; Married; Separated; Divorced
If married or separated,name of spouse:
3.Minor children and other dependents:
Names,ages, and places of residence: Blare Hippensteel 5 years old and 7axon
Hibpensteel.2 months old'and both children live with me
4.Income:
(a) Payees monthly income and sources: I will continue to receive$500.00 a mouth from ,
my annui1y, 1 am also looking for a full time job.M f�6 is'receiviniz unemployment
in the amount of$700.00 a month
(b)If presently married, spouse's monthly income and sources:.
5.Child support, alimony or alimony pendente lite:
Obligation to pay: _Yes'No
If yes, state the amount of the obligation,to whom payable,and whether there
are arrearages:
6.Previous transfers:
Have you previously filed a petition to transfer payment rights under the
structured settlement that is the subject of this petition?—X—Yes No
01'/01/2011 00:10 7172383991 BLUE CHIP PAGE 03/43
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 stare whether the court
approved or disapproved the transfer:
1. Cumberland Cqmty, PA Case# 200&07530 petition was approved.
2. Cumberland County, FA Case#2009-04851,petition was ani3roved.
3. Cumberland County, PA, case#2010-4807,petition was approved
4. Cumberland County, PA.Case#2011-3967,petition was approved
5. Cumberland County,PA,Case#2011-9036 etition was ap roved.
6. - Cumberland County, PA, Case#2012-04580.petition was approved
(b) If the transfer was approved,
(i) State the name of the transferee and identify(listing due
dates and payment amount(s))the payments involved in the
transfer:
1. Settlement Funding, I transferred to them a lum sum of$46,650.00 on March 11
2011. 2.
2. Settlement Funding, I transferred to them$40,000.00 due on March 1„1 2011 and
$16,650.00 due on March 11,,2014;
3. Seneca One, LLC,I transferred to them$65,000.00 due on March 11, 2019•
4. Seneca One, LLC, I transferred 1 lump of$30,000.00 due on March 11 2019& 1
lump of$92,000.00 due on March 11, 2024.
5. Seneca One LLC and I transferred 1 luzn sum payment of$45,000.00 payable
on March 11, 2019; (1) lump sum payment of$50,000.00 payable on March 11
2024 and (1) lump sum p_ayznent of$110,000.00 payable on March 11 2029
6. J.Q. Wentworth and I trans fe ed 1 lumR sum payment of$130,000.00 due on.
March 11. 2014.
(ii) State the amount of money and the manner in which the
money was used:
1.In my first transfer I received$28 569.00.I used the proceeds to buy a car,payoff debt
as well as to bu _aby supplies-
2. In my second transfer. I received$34,997.56. 1 used theRroeeeds to prepay rent for 8
months,purchase furniture and paid off some personal loans I was unable to buy the
home outright as my personal loans that paid off were more significant than I thou hg t and
there was not enough proceeds left to do so. So I ended up prepaying rent instead.
3. In my third transfer I received$13,114.00 in order to,pay off debt in order fix my
credit so that I could purchase a home. I also fib my vehicles,
4. In my fourth transfer, I received$28,000.00 and I used the funds.xo pay for
improvement on my house.
5. In my fifth transfer I received $18.000.00 and I used the proceeds to fix up my home
6. In my sixth transfer I received$100,000.00 and I used the proceeds to renovate my
home and make significant repairs,
02/01/2011 00:10 7172383991 BLUE CHIP PAGE 04/43
(c) Have you ever transferred payments without court approval? If so,
please explain:N/A
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: !intend on using the proceeds figm this transfer to open
up a business,specifically a trading post business.
S. Payment of debts:
If you seek tk a transfer in order to pay debts,list each debt, including the name
of the creditor and the amount presently owed: N/A
01/01/2011 00:10 7172383991 BLUE CHIP PAGE 05/43
Ver�c�tion
I verify.,that the statements made in this affidavit are true and correct. /
understand that false statements herein are made subject to the penalties of 1S
Pa.C.S.§4904,relating to unsworn falsification to authorities.
DATE: -t
Signature
FOX ROTHSCHILD LLP
BY: SAMUEL W. CORTES,ESQUIRE
IDENTIFICATION NO.: 91494
EAGLEVIEW CORPORATE CENTER
747 CONSTITUTION DRIVE, SUITE 100
P.O.BOX 673
EXTON,PA 19341-0673 ATTORNEYS FOR JOINT PETITIONER
(610)458-7500 SENECA ONE, LLC
IN RE: BRANDEN HIPPENSTEEL ; IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY,
PENNSYLVANIA
CASE NO.
NOTICE OF ASSIGNMENT
Transferor: Branden Hippensteel
39 Faith Circle
Carlisle, PA 17013
Transferee: Seneca One, LLC
7920 Norfolk Avenue, Suite 300
Bethesda, MD 20814
Annuity Owner: American General Assignment Corporation
Annuity Issuer: Western National Life Insurance Company f/k/a AIG Annuity Insurance
Company
Annuity Number: 404,483
Pursuant to Section 4003 of the Pennsylvania Structured Settlement Protection Act, 40
P.S. § 4001 et seq. (the "Act"), notice is hereby given that the above-referenced Transferor has
entered into agreements with the above-referenced Transferee to transfer all of his right, title, and
interest in certain payments due under the above-referenced annuity in exchange for
consideration. The transferred payments are as follows:
• Thirty-nine (39) monthly payments in the amount of$500.00,
beginning with the payment due on or about December 11, 2013,
continuing through and including the payment due on or about
February 11, 2017;
22605626v1
• One (1) lump sum payment in the amount of$6,650.00 due on or
about March 11, 2019;
• One (1) lump sum payment in the amount of$4,650.00 due on or
about March 11, 2024; and
• One (1) lump sum payment in the amount of 36,684.90 due on or
about March 11, 2029.
The Transferee's taxpayer identification number is 20-0426098.
Neither the Annuity Issuer nor the Annuity Owner is being asked to honor the transfer at
this time. Pursuant to the Pennsylvania Structured Settlement Protection Act, the Transferee and
Transferor will be seeking court approval of the transfer in the Court of Common Pleas of the
County in which the Annuitant resides and will provide both the Annuity Owner and the Annuity
Issuer with a copy of the Court's order.
While neither the Annuity Issuer nor Annuity Owner is required to appear or participate
in the court approval proceedings, the Annuity Issuer and Annuity Owner are entitled, under the
Act, to support, oppose, or otherwise respond to the Petition, either in person or by counsel, or by
submitting written comments to the court or by participating in the hearing. Any such written
comments or objections must be filed with the Court and served upon the undersigned counsel
for Petitioners within twenty (20) calendar days from the date of this Notice.
Under Section 4004 of the Act, upon entry of an Order by the Court approving the
transaction, the Annuity Issuer and Annuity Owner will both be released from all liability for
making the payments which are the subject of the assignment to all parties except the Transferee.
2
226056260
The form of Order submitted to the Court will also provide that nothing in the Order shall be
interpreted to negate, impair or modify the ownership or control over the annuity contract by the
Annuity Owner or Annuity Issuer.
FOX ROTHSCHILD LLP
Samuel W. Cortes, Esquire
Attorneys for Joint Petitioner
Seneca One, LLC
3
22605626v1
4 t I
FOX ROTHSCHILD LLP
BY: SAMUEL W. CORTES,ESQUIRE
IDENTIFICATION NO.: 91494
EAGLEVIEW CORPORATE CENTER
747 CONSTITUTION DRIVE, SUITE 100
P.O. BOX 673
EXTON,PA 19341-0673 ATTORNEYS FOR JOINT PETITIONER
(610)458-7500 SENECA ONE,LLC
IN RE: BRANDEN HIPPENSTEEL ; IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY,
PENNSYLVANIA
CASE NO.
CERTIFICATE OF SERVICE
I, SAMUEL W. CORTES, ESQUIRE, certify that on October 1, 2013, I caused a true
and correct copy of the foregoing Joint Petition for Transfer of Structured Settlement Payments
to be served upon the following by Federal Express, overnight delivery, no signature required:
Branden Hippensteel Western National Life Insurance Company
39 Faith Circle f/k/a AIG Annuity Insurance Company
Carlisle, PA 17013 205 East 10th Avenue
Amarillo, TX 79101
American General Assignment Corporation
205 10th Avenue
Amarillo, TX 79101
Samuel W. Cortes, Esquire
22605626v1
IN RE: BRANDEN HIPPENSTEEL IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY,
PENNSYLVANIA
C7 )
CASE NO. 1 3 , J I .) ! Gil
INITIAL ORDER OF COURT
AND NOW, this /0 day of eager , 2013, it is ordered that a hearing
on this Petition to Transfer Structured Settlement Payment Rights will be held on the d 7 day
of , 2013, in Courtroom 0.2 at 02.770o'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 of the payee,
the structured settlement obligor, the annuity issuer, the payee's spouse, if any, 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 shall
be filed with the court prior to the hearing.
BY THE COURT
J.
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22630595v1
FOX ROTHSCHILD LLP a
BY: SAMUEL W.CORTES,ESQUIRE
IDENTIFICATION NO.: 91494 .r 2 5 All, 9: £
EAGLEVIEW CORPORATE CENTER {
747 CONSTITUTION DRIVE,SUITE 100 "'`J?I BE RL A (
P.O. BOX 673 PENNS yLVA,HI
EXTON,PA 19341-0673 ATTORNEYS FOR JOINT PETITIONER
(610)458-7500 SENECA ONE, LLC
IN RE: BRANDEN HIPPENSTEEL IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY,
PENNSYLVANIA.
CASE NO. 13-5776 Civil
AFFIDAVIT OF SERVICE
I, SAMUEL W. CORTES, ESQUIRE, certify that on October 15, 2013, 1 caused a true
and correct copy of the Initial Order of Court, scheduling hearing of the above-captioned matter
for November 27, 2013, at 2:00 p.m. in Courtroom 2,to be served upon the following by Federal
Express, overnight delivery, no signature required:
Branden Hippensteel Western National Life Insurance Company
39 Faith Circle f/k/a AIG Annuity Insurance Company
Carlisle, PA 17013 205 East 10th Avenue
Amarillo, TX 79101
American General Assignment Corporation
205 10`h Avenue
Amarillo, TX 79101
Samuel W. Cortes, Esquire
Sworn.to and su scribe
by me thisld of November, 2013.
lw� M _ &d
otary
NOTARIAL SEAL
LAURA M BURDY
Notary Public
UWCHLAN TWP.,CHESTER COUNTY
My commission Expires Dec 28,2015
23309079v1
IN RE: BRANDEN HIPPENSTEEL IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
CASE NO. 13-5776 Civil
ORDER
After a hearing and review of the Joint Petition to Transfer Structured Settlement
Pursuant to 40 P.S. 4000 et seq. (the "Petition"), the Court finds as follows:
1. The transfer of structured settlement payment rights by the payee, Branden Keith
Hippensteel a/k/a Branden K. Hippensteel a/k/a Branden Hippensteel ("Hippensteel") to the
transferee, Seneca One, LLC ("Seneca One"), as described in the Petition (the "Proposed
Transfer"), complies with the requirements of 40 PA. CONS. ANN. STAT. § 4001, et seq., and
will not contravene other applicable federal or state statutes, including TEX. CIV. PRAC. &
REM. CODE § 141.001 (2004), et seq., or regulations or any applicable law, as required by 40
PA. CONS. ANN. STAT. § 4003(a)(1);
2. Not less than ten (10) days prior to the date on which Hippensteel first incurred
any obligation with respect to the Proposed Transfer, Seneca One provided to Hippensteel a
disclosure statement satisfying the requirements of 40 PA. CONS. ANN. STAT. § 4003(a)(2);
3. Hippensteel has established that the Proposed Transfer is in his best interest or the
best interest of his dependents, if any, as required by 40 PA. CONS. ANN. STAT. § 4003(a)(3);
4. Hippensteel has received, or waived in writing his right to receive, independent
professional advice regarding the implications of the Proposed Transfer, including consideration
of tax ramifications of the Proposed Transfer, as required by 40 PA. CONS. ANN. STAT.
§ 4003(a)(4);
5. If the Proposed Transfer would contravene the terms of the structured settlement
agreement, the express written approvals have been properly obtained and filed, as set forth in 40
PA. CONS. ANN. STAT. § 4003(A)(5);
6. Hippensteel has given written notice of the transferee's name, address and
taxpayer identification number to the annuity issuer, American General Life Insurance Company,
successor-in-interest to Western National Life Insurance Company, f/k/a AIG Annuity Insurance
Company, successor to American General Annuity Insurance Company f/k/a Western National
Life Insurance Company ("AGLIC"), and the annuity owner, American General Assignment
Corporation ("AGAC"), and has filed a copy of such notice with the court, as required by 40 PA.
CONS. ANN. STAT. § 4003(A)(6).
7. Hippensteel represents and warrants that he has all right, title, and interest in and
to the Assigned Payments (defined below), that said payments were not previously transferred,
assigned, sold, encumbered, or otherwise alienated, and that he is not aware of any claim or
potential claim against, or interest of any third-party in, said payments or payment rights other
than as expressly set forth herein.
8. 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 the
order of any court or responsible administrative authority. The Proposed Transfer complies with
26 USC §5891.
9. Seneca One has assigned to SuttonPark Structured Settlements, LLC
("SuttonPark") all of its rights under the Transfer and Assignment Agreement and the right to
receive the Assigned Payments (defined below).
-2-
Based on the foregoing findings and being satisfied that the Proposed Transfer satisfies
all applicable statutory requirements, including TEX. CIV. PRAC. & REM. CODE § 141.001
(2004), et seq. and 26 USC §5891, it is hereby,
ORDERED that the Petition is GRANTED and APPROVED as follows:
Pursuant to 40 PA. CONS. ANN. STAT. § 4003(A)(1), the assignment by Hippensteel to
Seneca One of all of his rights, title, and interest in and to certain structured settlement payments
under annuity contract number 404,483 (the "Annuity") is hereby APPROVED.
It is further ORDERED that AGAC and AGLIC are hereby directed to deliver and make
payable the following payments, as they become due under the schedule set forth in the Annuity,
regardless of whether Hippensteel is living:
• monthly payments of$500.00 each, commencing December 11, 2013 through and
including February 11, 2017;
• one (1) lump sum payment of$6,650.00 due on March 11, 2019;
• one (1) lump sum payment of$4,650.00 due on March 11, 2024; and
• one (1) lump sum payment of$36,684.90 due on March 11, 2029
(the "Assigned Payments"). The lump sum Assigned Payments due on March 11, 2019, March
11, 2024, and March 11, 2029 ("Term I") shall be delivered to Great Falls Titling Trust ("Great
Falls"), as the prior designated assignee, at the following address:
Great Falls Titling Trust
P.O. Box 62478
Baltimore, MD 21264-2478
(the "Great Falls Designated Address"). The monthly Assigned Payments due from December
11, 2013 through February 11, 2017 ("Term II") (together with Term I as the "Terms") shall be
delivered to SuttonPark, as the designated assignee of Seneca One, at the following address:
SuttonPark Structured Settlements, LLC
Account#2000056386323, Lockbox #9582
-3-
P.O. Box 8500
Philadelphia, PA 19178-9582
(the "SuttonPark Designated Address"). The Assigned Payments represent only a portion of the
payments due and payable under the Annuity during the Terms. AGAC and/or AGLIC are not
required to divide or split the payments due and owing during the Terms. Therefore, Seneca One,
Great Falls, SuttonPark, and Hippensteel have agreed to, and the Court hereby approves, a
payment servicing arrangement relative to said payments.
It is therefore ORDERED that AGLIC shall send 100% of the payments due and payable
under the Annuity during Term I containing the Assigned Payments (the "Term Payments I") to
Great Falls. Great Falls will retain the portion of each Term Payment I that constitutes a Prior
Assigned Payment' and will remit the portion of each Term Payment I to SuttonPark that
constitutes an Assigned Payment at the SuttonPark Designated Address. Great Falls shall remit
the remaining unassigned portion of the Term Payments I, if any, to Hippensteel.
It is further ORDERED that AGLIC shall send 100% of the payments due and payable
under the Annuity during Term II containing the Assigned Payments (the "Term Payments II")
(collectively with the Term Payments I as the "Term Payments") to SuttonPark. SuttonPark shall
retain the portion of each Term Payment II that constitutes an Assigned Payment I, and shall
remit the remaining unassigned portion of the Term Payment II, if any, to Hippensteel.
AGLIC and AGAC shall discharge their obligation to make the Term Payments in
question by paying and directing the Term Payments to SuttonPark and by doing so AGLIC and
A previous transaction involving Seneca One, Great Falls, and Hippensteel and the transfer and assignment of
structured settlement payments was approved in January 2012,pursuant to the Final Order(the "Prior Final Order")
signed by the presiding judge of this Court. The partial payments transferred and assigned to Great Falls, as the
designated assignee of Seneca One, by virtue of the Prior Final Order are set forth and described in detail in the
Prior Final Order and shall hereafter to be referred to as the "Prior Assigned Payments." The Prior Final Order
remains in full force and effect, except to the extent that it conflicts with or differs from this Order.
-4-
AGAC shall not have any liability to Hippensteel for the Term Payments. This Order in no way
modifies or negates the ownership or control over the Annuity by AGLIC and/or AGAC.
It is further ORDERED that Hippensteel shall receive from Seneca One and/or its
assignee, SuttonPark, the amount of$17,019.52, from which no funds are owed for counsel fees,
administrative fees, or other costs, fees or expenses.
It is further ORDERED that Seneca One, Great Falls, SuttonPark, and their affiliates and
successors in interest, shall defend, indemnify and hold harmless AGAC and AGLIC and their
successors and assigns, parents, affiliates, and subsidiaries, from and against any and all liability
from all claims in connection with, related to, or in any way arising out of the issuance of the
Term Payments to SuttonPark and Great Falls, whether such claims are brought by Hippensteel
(including his heirs, beneficiaries, and/or executors), by any individual or entity to which Seneca
One or SuttonPark subsequently assigns or transfers the Assigned Payments or any portion
thereof, or by any other individual or entity. To the extent that Seneca One, Great Falls, and/or
SuttonPark neglect to honor this indemnification and defense obligation, AGAC and AGLIC
may, in addition to all other remedies available at law, satisfy the same by withholding to their
own credit any remaining Assigned Payments.
It is further ORDERED that neither the fact of the entry of this Order, nor any term or
action taken hereunder, shall be admissible at any time in any action or proceeding for any
purpose, except if required in connection with the enforcement of any party's rights hereunder.
It is further ORDERED that AGAC and AGLIC are hereby discharged from all liability
for the Term Payments, as to all parties except SuttonPark, Great Falls, and their successors
and/or assigns. This Order is entered without prejudice to the rights of AGAC and AGLIC and
-5-
the Court makes no finding regarding the enforceability of any anti-assignment provisions
contained in the annuity contracts or related documents.
It is further ORDERED that the death of Hippensteel, prior to the due date of the last
Term Payment, shall not affect the transfer of the Assigned Payments from Hippensteel to
SuttonPark, as the designated assignee of Seneca One, and Hippensteel understands that he is
giving up his rights, and the right of his heirs and/or successors to the Assigned Payments.
It is further ORDERED that this Order shall be read in conjunction with prior orders of
this or any other court transferring payments to from the Annuity, and the payments transferred
herein shall be in addition to payments transferred pursuant to any such prior orders.
It is further ORDERED that this Order is a "Qualified Order" pursuant to 26 U.S.C.
§ 5891, et seq. and finally disposes of all claims and all parties; all motions not specifically
granted herein are DENIED.
th
SIGNED this 2 7 day of November 2013.
Presiding Judge
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