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HomeMy WebLinkAbout13-7581 Supreme Court of Pennsylvania Court '6 f Common Pleas For Prothonotary Use Only. Civil Cover. Sheet Docket Na C�}e� County �3 —' The information collected on this form is used solely for court administration purposes. This form does not supplement or replace the filing and service of pleadings or other p apers as required by law or rules of court. Commencement of Action: S El Complaint 0 Writ of Summons Petition Transfer from Another Jurisdiction E] Declaration of Taking E C ' Lead Plaintiff s Name: Lead Defendant's Name: National Collegiate Student Loan Trust Dqc T Dollar mount Requested: ,within arbitration limits I Are money damages requested? Yes ©No (check one) []outside arbitration limits 0 N Is this a Class Action Suit? © Yes El No Is this an MDJAppeal? D Yes El No A Name of Plaintiff /Appellant's Attorney: MIC RATCHFORD , ESQ. © Check here if you have no attorney (are a Self - Represented [Pro Se] Litigant) Nature of the Case Place an "X" to the left of the ONE case category that most accurately describes your PRIMARY CASE. If you are making more than one type of claim, check the one that you consider most important. TORT (do not include Mass Tort) CONTRACT (do not include Judgments) CIVIL APPEALS Intentional El Buyer Plaintiff Administrative Agencies Malicious Prosecution © Debt Collection: Credit Card D Board of Assessment ® Motor Vehicle ®x Debt Collection: Other Board of Elections Nuisance STUDENT LOAN Dept. of Transportation E] Premises Liability Statutory Appeal: Other S ® Product Liability (does not include ' � Employment Dispute: E mass tort) ®Slander/Libel/ Defamation Discrimination C El Other: Employment Dispute: Other El Zoning Board T Other: I Other: 0:, MASS TORT D Asbestos N [] Tobacco © Toxic Tort - DES Toxic Tort - Implant REAL PROPERTY MISCELLANEOUS ® Toxic Waste © Other: ®Ejectment [I Common Law /Statutory Arbitration B ® Eminent Domain/Condemnation 0 Declaratory Judgment Ground Rent 0 Mandamus Landlord/Tenant Dispute rl Non - Domestic Relations Mortgage Foreclosure: Residential Restraining Order PROFESSIONAL LIABLITY Mortgage Foreclosure: Commercial 11 Quo Warranto 0 Dental Partition 0 Replevin Legal © Quiet Title © Other: Medical Other: Other Professional: Updated 1/1/2011 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA 23 a , NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -1 CIVIL ACTION ° '' ,i ° ' .4 iA c/o NCO Financial Systems Inc. t� F_SYW'1°fk'N [ 5100 Peachtree Industrial Blvd Norcross, GA 30071 Plaintiff vs. NO: /3 GEORGE BOYCHOCK 1 LINCOLN AVE CARLISLE PA 17013 -1938 Defendant and MATTHEW JAMES 17 DULLES DR W CAMP HILL PA 17011 -1111 Defendant NOTICE TO DEFEND You have been sued in court. If you wish to defend against the claims set forth in the following pages, you must take action within twenty (20) days after this Complaint and Notice to Defend are served, by entering a written appearance personally or by an attorney and filing in writing with the court your defenses or objections to the claims set forth against you. You are warned that if you fail to do so the case may proceed without you and a judgment may be entered against you by the court without further notice for any money claimed in the Complaint or for any other claim or relief requested by the plaintiff. You may lose money or property or other rights important to you. YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP. IF YOU CANNOT AFFORD TO HIRE A LAWYER, THIS OFFICE MAY BE ABLE TO PROVIDE YOU WITH INFORMATION ON AGENCIES THAT MAY OFFER LEGAL SERVICES TO ELIGIBLE PERSONS AT REDUCED FEE OR NO FEE. S MIDPENN LEGAL SERVICES � 401 EAST LOUTHER STREET CARLISLE, PA 17013 �� .31-SW 717- 243 -9400 VV111LL1W111 \L VV V1\ 1 1, 1 L1 11 NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -1 CIVIL ACTION c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd Norcross, GA 30071 Plaintiff vs. NO: GEORGE BOYCHOCK 1 LINCOLN AVE CARLISLE PA 17013 -1938 Defendant and MATTHEW JAMES 17 DULLES DR W CAMP HILL PA 17011 -1111 Defendant COMPLAINT Plaintiff, NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -1, by and through its attorneys, Edwin A. Abrahamsen & Associates, P.C., complains of the Defendants as follows: 1. The defendant GEORGE BOYCHOCK is an adult individual residing at 1 LINCOLN AVE CARLISLE PA 17013 -1938. 2. The defendant MATTHEW JAMES is an adult individual residing at 17 DULLES DR W CAMP HILL PA 17011 -1111. 3. The defendants executed the promissory note for the payment of tuition in which the defendants were required to make monthly payments. A copy of the promissory note, is attached hereto as Exhibit "A." 4. The defendants' account was transferred and assigned by the original lender to the plaintiff. (See "Pool Supplement" attached hereto as Exhibit "B" demonstrating the chain of title for this account) 5. The defendants were advanced the proceeds of the loan which were to be used for educational purposes. 6. The defendants failed to make the required payments when due. 7. The balance currently owed by defendants is $3,812.85. 8. Plaintiff has declared Defendants to be in default and demands payment of the balance due from the Note. WHEREFORE, Plaintiff requests judgment in its favor and against Defendants in the amount of $3,812.85 plus costs of suit and any other relief as the Court deems just and appropriate. Re ctfully s MichadA F. Ratch rd, Esquire Attorney I.D. N : 86285 120 N. Keyser ve Scranton, PA 8504 mratchford@ aa- law.com Phone: 800 -5 3 -1665 Fax: 570 - 558 -5511 VERIFICATION I, Michael F. Ratchford, attorney for Plaintiff, NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -1, am fully familiar with the facts set forth in the within Complaint and am authorized to make this Verification on behalf of Plaintiff. I Verify that the facts set forth in the within allegations are true and correct to the best of my knowledge, knowing that any false statements are punishable by law pursuant to 18 C.S.A. 4904. Michael . Ratchford, squire t EXHIBIT A NOTE DISCLOSURE STATEMENT $ 3,003.28 Botrowcr(s) GEORGE BOYCHOCK 04 591 MATTHEW JAMES Loan No. Student: GEORGE BOYCHOCK Date: lnnuary 18.2067 GEORGE BOYCHOCK Lender Name and Address; 546 N BEDFORD ST 1PMORGAN CHASE RANK N A. N A t CARLISLE, PA 17013 USA 100 EAST BROAD STREET COLUMBUS. OH 43125 This disclosure statement relates to your Loan Note disbursed on January 18, 2007 Recausc your Loan is other being disbursed or entering repayment, or the repayment terms are being modified, the following information about your Loan is being given to you. ANNUAL PERCENTAGE RATE FINANCE, CHARGE Amount Financed Total of Payments The cost of yourcredh as a The dollar amount the credit The amount o(acdit provided The amount you will have paid after yearly rate. will cost you. to you or on your behalf. you have made all payments scheduled. 12.036 % S 7.464.00 S 2.748.00 $ 10.212.00 Your payment schedule will be: Number of Payments Amount of Payments When Payments are due 240 S 4155 On the 15th day of each month t rgimring 12!2009 VARIABLE: RATE: The Annual Percentage Rate, which is based on an index plus a margin, may increase during the term of the Inan if the index rate increases. The- index is (check one): [� Prime Rate Index Adjusted Monthly - The highest US. bank prince rate published in the "Mosey Rates" section of fhe W dl Sirup[ Journal n% .Iqn FAIii ion on the last busines s day of each calendar month. E] Prime Rate Index Adjusted Quarterly -The highest U.S. bank prime rule published in the "Money Rates" section of The Wall Street Journal (Eastern Edition) on the last business day of each calendar quarter. LIBOR Index Adjusted Quarterly -The average of the one -month London Interbank Offered Rates published in the "Money Rates" section of The Wal t roet Journal (Eastern Edition) on the first business day of each of the three (3) calendar months immediately preceding the first day of each calendar quarter. QX LIBOR Index Adjusted Monthly -The one -month London Interbank Offered Rate published in the "Money Rates" section of Ile Wall Sw Jowtngl (Fasts r(nEEgilion) on the first business day of the preceding calendar month. Any increase in the index and the Annual Percentage Rule which occurs while principal payments are deferred will increase the amount of any current mid all future payments. Any increase in the index and tttc Annual Percentage Rate which occurs while principal and interest payments arc deferred will increase the amount of all future payments. Any increase in the index and the Annual Percentage Rate which occurs after you have begun to make principal and interest payments on your ban will increase the amount of your future principal and interest payments beginning with your next annual payment adjustment date. Flu eKamplc, assume you obtain a bat in your junior year, in the amount of 510,000, at an interest rate of I I%, and you defer principal and interest payments until after your graduation, and the repayment tom of the loan is 20 years. If the interest rate increased to 12% on January 1st of your senior year, the interest which accrues while principal and interest payments are deferred will increase by $91.01, and your monthly principal and interest payments would increase by $9.37. LATE CHARGES: If a payment is more than 15 days late, you may be charged $5.00 or 5% of the payment, whichever is Less. If you default, Lender (or any subsequent holder of your Loan Note) may increase the margin used to compute the Annual Percentage Rine by two percentage points (2%). PREPAYMENT: If you pay off early. you will not have to pay a penalty. Estimates: All numerical disclosures except the late payment disclosure are estimators. See your contract documents for any additional information about tton- payment, default, any required repayment in full before the scheduled date, any security interest and prepayment refunds and penalties. Principal Amount of Note (Amount Financed pins Prepaid Finance Charge) $ 3.003.28 Itemization of Amount Financed Ain aunt paid to GEORGE BOYCHOCK and $ Amount paid to MATTHEW JAMES 5 2.748.00 Total Amount Financed S 2,748.00 Itemization of Prepaid Finance Charge Origination Fee S 255.28 Toud Prepaid Finance Chargc(s) $ 255.28 csATav a. EOJGDF Education One Graduate DF File Copy From: 00200001168331890137 Page: 5/5 Date: 1!912007 3:48:34 AM NON4IEOOVABLE CPEW ACiR[ lfEKi - THIS•.'S'A CONSUMER C1t®rT TRANSACTION a'.�.,= .�..T:_...rtti.•+:is.:. Education 0ae Edjjwl on One Graduale Loan Ara6emlcPe6od :.08R0G#-0512007 Lender, - JPft wpn Chgw.Bank..NA. Sd=t: WIDENER UNwRrATY L.oeri kkurit Requeited:'00 60,00 RiOymerg00W Full Dete mi Deiarrnetti Pr3rlod Margie 5.75 Repaytstert Psttod Marytn :3:75 Loan Qrlglnatlon Fee Percel►teQe :8.50 t13T D E u� :nsr�.n1ta 1 - ��*r ansv^!7^nQWP_ ewtawerName: GeornmX -rhotk Hbn*. diesa:54B*►r ° "d St- Carlisle; P&I7013 Sotsal Sewrityr C: - Date of Bhfh :... Lorne Teiep wne: (717) 245 =9645 54:tatt CbrwoWp (cl a are bb4: • to ills Ctbw : 0 Eap:bls NW (ArM*froht a troth aoyy Of CIS a studerd %ita oars Notes IN I rosaerKa name 041t00tn1 Moot tsuA:b to ofthe Petlard ri*oterar Wurac _�1hPJ]I�t Rd.nn�'rkxne rel t : ;ntn z6f tf7a Work Tai fk 24D tt7l1' lieseroM* Shoat AAdrea!' 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Ariiitc 9 of Ile UYU$sra CoomicYCitd Code. L 1bu �{ Invc read the s auipsr intiods} Ferparpotw of tLe fimowimg aotloa'?'on' means dc8atmwctaed Cadgm: eol the t",ad�T.. FOR MZ CA[MQN — IT IS DIPORTANr•THAT YM THOROUGHLY HEAD THE COWRACT REM" YOU SIGN FOR ` : NOTICE TO Commit. (t) . 1)0 ) tiATSIGN THIS CREW AGREEMENT-BEFORE YOU WAD Tt[ i."FPENCON THE FOLLOWING PAGFS.VVEKIF CrfHERWLSEADVISED.. (b) Do NOTOGN TM CRF11ITAGREEMENT IF IT CONTAINS ANY RLANKSPACI S (r) Y0I1 ARE VMTLFD TO AN t:7I;ACT COPY OF ANY AQUMKM VWSIGN. (d) YM HAVE THE RIGI[f AT ANY 77ME TO PAY IN ADVANCE 171E UNIAtD SAIANCE MWER 7I115 AGREENFNT AND YOU MAY -BE F1NTM.EDTD A IPART IAL REFpIND OF THE F11SiAMM CIURCG• :. ;,.;.....;_ i. lb :`` .t�i'+•r: Sigtlature'ofBwlowef t3Y't31aN1AR3 AGR BELOW,d CERTIFY MT I•DITEND 'TO Et) APPLY FOR JOINT CREW AND ftlt fi JORMY I tA81 E WI>iM f t FOR f I qj $ipne4iie of Ctitti�iief f lu Date 7 I D E0.0&07;CSX1.10DC:010.6 LENDER COPY J p1AI�E0 :O611T_C61i1_F_I( SOVCNDG(J1141Q815W pdf EGM N In this Credit Agreement, the words "I ", "me ", "my ", and "mine" mean each and every Date; provided, however, that if the student Borrower begins a medical residency or Borrower and Cosigner, individually and collectively, who signed this Credit internship during the Deferment Period, then the Deferment Period will end 180 days Agreement. The words you', 'your", 'yours', and "Lender" mean the Lender named at after the day the residency or internship ends, but no more than 8%: years after the the top of the first page of this Credit Agreement, its successors and assigns, and any Disbursement Date. other holder of this Credit Agreement. "School" means the school named at the top of 4. The "Repayment Period" begins the day after the Deferment Period ends (or, if the first page of this Credit Agreement. The "servicer" means the Lender or any entity there is no Deferment Period, the day after the Disbursement Date for my loan). The it designates to service my loan. Repayment Period is 20 years, unless monthly payments equal to the minimum A. PROMISE TO PAY: I promise to pay to your order, upon the terms and conditions monthly payment amount (see Paragraph E.2) will repay all amounts owed in less than of this Credit Agreement, the principal sum of the Loan Amount Requested shown on 20 years, in which case the Repayment Period will be the number of months the first page of this Credit Agreement, to the extent it is advanced to me or paid on necessary to pay in full the amount I owe at the minimum payment. my behalf, and any Loan Origination Fee added to my loan (see Paragraph F) D. INTEREST: (together the "Principal Sum "), interest on such Principal Sum, interest on any unpaid 1. Accrual — Beginning on the Disbursement Date, interest on the outstanding balance interest added to the Principal Sum, and other charges set forth herein. of this Credit Agreement (including any unpaid interest later added to principal B. LOAN; DISCLOSURE STATEMENT: according to Paragraph D.3) will accrue each day (including holidays and other days 1. By signing this Credit Agreement, and submitting it to you, I am requesting you are closed) at the Variable Rate (Paragraph D.2) divided by the number of days in that you make this loan to me in an amount equal to the Loan Amount that calendar year. Requested plus any Loan Origination Fee described in Paragraph F of this 2. Variable Rate —The "Variable Rate" is equal to the Current Index plus a Margin. Credit Agreement. When you receive my signed Application, you are not The Margins for both the Deferment Period and the Repayment Period are shown on agreeing to lend me money. You have the right not to make a loan or to lend an the first page of this Credit Agreement. In no event will the Variable Rate exceed the amount less than the Loan Amount Requested. I agree to accept an amount less maximum interest rate allowed by the laws of the State of Ohio. The Variable Rate will than the Loan Amount Requested and to repay that portion of the Loan Amount change monthly on the first day of each calendar month (the "Change Date(s)') if the Requested that you actually lend to me along with interest and all other amounts Current Index changes. The "Current Index" for any calendar month (or for any shorter I owe (see Paragraph A). period beginning on the Disbursement Date and ending on the last day of a calendar 2. If you agree to make a loan to me, you will mail me the disbursement check (the month) is based on the one -month London Interbank Offered Rate ( "LIBOR') as "Disbursement Check ") and a statement disclosing certain information about the loan published in the "Money Rates" section of The Wall Street Journal (Eastern Edition). in accordance with the federal Truth-in- Lending Act (the "Disclosure Statement"). You The index for each calendar month (or for any shorter period beginning on a have the right to disburse my Disbursement Check through an agent. At your option, Disbursement Date and ending on the last day of a calendar month) will equal the you may also make any Disbursement Check co- payable to me and the Cosigner or to LIBOR rate published on the first business day of the immediately preceding calendar me and the School. In addition to other information, the Disclosure Statement will tell month, rounded to the nearest one - hundredth of one percent (0.01%). If The Wall me the amount of my disbursement and the amount of the Loan Origination Fee. The Street Journal (Eastern Edition) is not published or the Current Index is not given on Disclosure Statement is part of this Credit Agreement. Upon receipt of the Disclosure that date, then the Current Index will be determined by using the immediately Statement, I will review the Disclosure Statement and notify you in writing if I have any preceding published Current Index. If the Current Index is no longer available, you will questions. My endorsement of the Disbursement Check or allowing the loan proceeds choose a comparable index. to be used by or on behalf of the student Borrower without objection will acknowledge 3. Capitalization — If I have elected the "Full Deferral" repayment option (the applicable receipt of the Disclosure Statement and my agreement to be legally bound by this repayment option is stated on the first page of this Credit Agreement), I am not Credit Agreement. obligated to make any payments until the loan enters the Repayment Period and you 3. If I am not satisfied with the terms of my loan as disclosed in the Disclosure will add unpaid accrued interest to the principal loan balance as of the last day of each Statement, I may cancel my loan. To cancel my loan, I will give you a written calendar quarter (the last day of December, March, June and September) during the cancellation notice, together with my unused Disbursement Check or, if I have already Deferment Period and as of the last day of my Deferment Period. Interest that is added endorsed and delivered the Disbursement Check to the School, a good check, payable to principal is called "Capitalized' interest. Capitalized interest will be treated as to you, in the full amount of the Disbursement Check. In any event, I cannot cancel principal. In addition, if I am in default (see Paragraph 1) and the loan has been sold to more than ten (10) days after I receive the Disclosure Statement. If I give notice of TERI (see Paragraph L.12), TERI may capitalize accrued and unpaid interest as of the cancellation but do not comply with the requirements of this Paragraph B.3, this Credit date it purchases my loan. In all cases, the sum of interest you capitalize plus the Agreement will not be canceled and I will be in default of this Credit Agreement. (See then - outstanding principal balance is thereafter considered the principal balance, and Paragraph 1.) interest will accrue on the new principal balance. C. DEFINITIONS: E. TERMS OF REPAYMENT: 1. "Disbursement Date" means the date shown on any Disbursement Check you 1. Deferment Period — If I have elected either the "Interest Only" repayment option or prepare for me (not the date I endorse or negotiate my check). the "Full Deferral" repayment option (the applicable repayment option is stated on the 2. The "Deferment Period" will begin on the Disbursement Date and end on the first page of this Credit Agreement), you will send statements during the Deferment Deferment End Date. Period (showing the total outstanding principal balance of my loan and the interest that 3. "Deferment End Date' means the date specked below for the applicable loan has accrued on my loan). You reserve the right to send statements or notices to either program (the applicable loan program is stated on the first page of this Credit the Borrower or the Cosigner. Statements will be sent to the address shown on your Agreement). records. If I have elected the "Interest Only" repayment option, I agree to make (a) Education One Undergraduate Alternative Loan Program If I have elected the payments each month during the Deferment Period equal to the accrued interest on "Immediate Repayment" option (the applicable repayment option is stated on the first the outstanding balance of this Credit Agreement. If I have elected the "Full Deferral" page of this Credit Agreement), there is no Deferment Period, and my first payment repayment option I may, but am not required to make payments during the Deferment will be 30 -60 days after the disbursement of my loan. If I have elected the "Interest Period. You will add any interest that I do not pay during the Deferment Period to the Only" repayment option (the applicable repayment option is stated on the first page of principal balance, as described in Paragraph D.3. this Credit Agreement), then interest payments will begin 30 -60 days after the 2. Repayment Period — The amount of my monthly payment ( "Monthly Payment disbursement of my loan, the "Deferment End Date" will be the date the student Amount') will be established based on the rules in this Credit Agreement when my Borrower first graduates or ceases to be enrolled at least half -time in the School (or Repayment Period begins. During the Repayment Period, you will send monthly another school participating in this loan program), and principal and interest payments statements that show the Monthly Payment Amount and the payment due dates, and I will begin 30-60 days after that date. In any event, if I have elected the "Interest Only" will pay the Monthly Payment Amount shown on my monthly statement, which amount repayment option, the Deferment End Date will be no more than 5 years after the will in no event be less than $25 or the unpaid balance, whichever is less. I understand Disbursement Date. If I have elected the "Full Deferral' repayment option (the that the Monthly Payment Amount is due each month. I may pay more than my applicable repayment option is stated on the first page of this Credit Agreement), then Monthly Payment Amount at any time without penalty or charge. If my loan is in paid - the "Deferment End Date' will be 180 days after the date the student Borrower first ahead status, I may, but will not be required to make monthly payments. You reserve graduates or ceases to be enrolled at least half -time in the School (or another school the right to send monthly statements to the Borrower and/or the Cosigner. Even if I do participating in this Loan Program), and principal and interest payments will begin 30- not receive monthly statements, I will make consecutive monthly payments in amounts 60 days after that date. In any event, if I have elected the "Full Deferral' repayment at least equal to the Monthly Payment Amount by the applicable payment due dates option, the Deferment End Date will be no more than 5 %: years after the Disbursement until I have paid all of the principal and interest and any other charges I may owe Date. For borrowers who chose the "Interest Only' or "Full Deferral" repayment under this Credit Agreement. options, a student who receives the first of joint or serial degrees (e.g., associates to 3. Repayment Terms — My Monthly Payment Amount will be calculated as of the day bachelors) may continue in- school deferment while completing their second degree, up the Repayment Period begins ( "Repayment Date "). It will be recalculated (a) once to the 5 -year or 5 %,year maximum. each year prior to the anniversary of the Repayment Date, (b) if the Variable Rate (b) Education One Graduate Professional Education Loan Program: The changes between anniversaries of the Repayment Date to the extent that the Monthly Deferment End Date will be 180 days after the student Borrower graduates or ceases Payment Amount would not pay in full the accrued monthly interest on my loan, (c) for any other reason to be enrolled at least half-time in the School (or another school following any subsequent deferment or forbearance period or (d) following any request participating in this Loan Program), but no more than 4 %= years after the Disbursement by the Borrower to the servicer to change the monthly payment due date (each of IWO- %41 81.1 ) EO.06- 07.CSX1.10DC.0106 2 of4 which events is anew "Repayment Date "), As of any Repayment Date, my Monthly K. INFORMATION: Payment Amount will be recalculated. My new Monthly Payment Amount will be 1. 1 must update any and all information related to this Credit Agreement or my loan disclosed to me by the servicer. The new Monthly Payment Amount will equal the application whenever you ask me to do so. amount necessary to pay in full, over the number of months remaining in the 2. 1 authorize you from time to time to request and receive from others credit related Repayment Period, the amount I owe in equal monthly installments of principal and information about me (and about my spouse if I live in a community property state). interest at the Variable Rate in effect at the time of the calculation. I understand that 3. CREDIT BUREAU REPORTING this may result in a reduction or increase in my monthly payment as calculated as of You may report information about my account to credit bureaus. Late each Repayment Date. I understand that during the Repayment Period (and, if I have payments, missed payments, or other defaults in my account may be reflected elected the "Interest Only" repayment option, during the period of interest payments) in m credit report. the servicer may change the monthly payment due date of future payments to a later date for the convenience of the servicer in processing payments or in order to I understand that the reporting of information about my account to credit bureaus may coordinate the due dates of all of my loans processed by the servicer. adversely affect my credit rating and my ability to obtain other credit. You may also 4. Amounts Owing at the End of the Repayment Period — Since interest accrues daily provide the School with certain personally- identifiable information about me (such as upon the unpaid principal balance of my loan, if I make payments after my payment my Social Security Number and my Loan ID number) and report the status of my loan due dates, I may owe additional principal, interest, and/or late fees at the end of the and my payment history, including information about a late payment, missed payment Repayment Period. If I have not paid my late fees, I will also owe additional amounts or other defaults, to the School and others in accordance with applicable law. for those late fees. In such rases you will increase the amount of my last monthly L. ADDITIONAL AGREEMENTS: payment to the amount necessary to repay my loan in full in a single payment. 1. 1 understand that you are located in OHIO and that this Credit Agreement will be 5. Payments— Payments will be applied first to late fees and other fees and charges, entered into in the same state. CONSEQUENTLY, THE PROVISIONS OF THIS then accrued interest, and the remainder to principal. If I have multiple loans CREDIT AGREEMENT WILL BE GOVERNED BY FEDERAL LAW AND THE LAWS processed by the servicer, and I submit a single payment that is not sufficient to pay all OF THE STATE OF OHIO, WITHOUT REGARD TO CONFLICT OF LAW RULES. of the amounts I owe, such payment may be divided between or among the loans in 2. The proceeds of this loan will be used only for my educational expenses at the accordance with applicable law and the servicees customary procedures. School. The Cosigner will not receive any of the loan proceeds. 6. Other Charges - If any part of a monthly payment remains unpaid for a period of 3. My responsibility for paying the loan evidenced by this Credit Agreement is more than 15 days after the payment due date, I will pay a late fee not exceeding unaffected by the liability of any other person to me or by your failure to notify me that $5.00 or 5% of the overdue payment amount, whichever is less. I will pay only one a required payment has not been made. Without losing any of your rights under this late fee for any (monthly) payment, regardless of the number of days it is late. To the Credit Agreement you may accept (a) late payments, (b) partial payments or (c) extent permitted by law, I agree to pay you all amounts you incur in enforcing the payments marked "paid in full" or with other restrictions. You may delay, fail to terms of this Credit Agreement, including reasonable collection agency and attorney's exercise, or waive any of your rights on any occasion without losing your entitlement to fees and court costs and other collection costs. exercise the right at any future time, or on any future occasion. You will not be F. LOAN ORIGINATION FEE: You may charge me an Origination Fee. If you charge obligated to make any demand upon me, send me any notice, present this Credit me, at the time you issue any disbursement to me, or on my behalf, you may add the Agreement to me for payment or make protest of non - payment to me before suing to Origination Fee to my loan amount. The dollar amount of any Loan Origination Fee collect on this Credit Agreement if I am in default, and to the extent permitted by will be determined by multiplying the Principal Sum times the Loan Origination Fee applicable law, I hereby waive any right I might otherwise have to require such actions. Percentage shown on the first page of this Credit Agreement. The percentage would I WILL NOT SEND YOU PAYMENTS MARKED "PAID IN FULL ", "WITHOUT be higher if computed only on the amount advanced rather than on the entire Principal RECOURSE" OR WITH OTHER SIMILAR LANGUAGE UNLESS THOSE PAYMENTS Sum (Loan Origination Fee plus the loan amount advanced). For example, a nominal ARE MARKED FOR SPECIAL HANDLING AND SENT TO THE ADDRESS Loan Origination Fee of 6.5% on the entire Principal Sum would equal 6.9519% of the IDENTIFIED FOR SUCH PAYMENTS ON MY BILLING STATEMENT, OR TO SUCH loan amount advanced. The Loan Origination Fee I will pay, if any, will be shown on OTHER ADDRESS AS I MAY BE GIVEN IN THE FUTURE. my Disclosure Statement and included with the Principal Sum. To the extent permitted 4. 1 may not assign this Credit Agreement or any of its benefits or obligations. You by law, and unless I timely cancel this Credit Agreement (see Paragraph B.3), I will not may assign this Credit Agreement at any time. be entitled to a refund of any Loan Origination Fee after my Disbursement Check has 5. The terms and conditions set forth in this Credit Agreement and the Disclosure been negotiated. Statement constitute the entire agreement between you and me. G. RIGHT TO PREPAY: I have the right to prepay all or any part of my loan at any 6. If any provision of this Credit Agreement is held invalid or unenforceable, that time without penalty or charge. provision shall be considered omitted from this Credit Agreement without affecting the H. FORBEARANCE: If I am unable to repay my loan in accordance with the terms validity or enforceability of the remainder of this Credit Agreement. established under this Credit Agreement because of a hardship such as financial or 7. A provision of this Credit Agreement may only be modified 9 jointly agreed upon in medical difficulty, I may request that you modify these terms. I understand that such writing by you and me. Any modification will not affect the validity or enforceability of modification would be at your option, and, to the extent not prohibited by applicable the remainder of this Credit Agreement. If I fax my Credit Agreement, I have read and law, you may charge me a fee equal to two percent 2% of the outstanding principal understand the prohibition regarding changes in Paragraph L.16. balance if you agree to modify the terms of this Credit Agreement. I understand that 1 8. To the extent permitted by law, you have the right to apply money from any of my will remain responsible for all interest accruing during any period of forbearance and deposit account(s) with you to pay all or a portion of any amount overdue under this that you will add any 2% fee described in the previous sentence and all interest that I Credit Agreement. If I am in default at any time (including but not limited to a situation do not pay during any forbearance period to the principal balance, as described in where I give an improper cancellation notice), you may exercise on my behalf any right Paragraph D.3. that I may have to receive a full or partial refund of payments made to the School. I I. WHOLE LOAN DUE: To the extent permitted by applicable law, I will be in default authorize the School to pay any or all of such amounts directly to you upon receipt of if: (1) 1 fail to make any monthly payment to you when due, (2) 1 die, (3) 1 break any of notice from you that I am in default under this Credit Agreement. my other promises in this Credit Agreement, (4) any bankruptcy proceeding is begun g. The Borrower and the Cosigner each agrees that any communication between you by or against me, or I assign any of my assets for the benefit of my creditors, or (5) 1 and the Borrower or the Cosigner will be binding on the Borrower and the Cosigner. make any false written statement in applying for this loan or any other loan or at any The Borrower and Cosigner intend to be treated as principals of this Credit Agreement time during the Deferment or Repayment Periods. I understand that if I default on my and not as sureties. To the extent the Borrower or the Cosigner may be treated as a loan, disclosure of my loan information to consumer reporting agencies may adversely surety, the Borrower and the Cosigner waive all notices otherwise required or available affect my credit rating. If I default, I will be required to pay interest on this loan accruing by law, and all suretyship defenses that might be available (including, without after default. The interest rate after default will be subject to adjustment in the same limitation, contribution, subrogation and exoneration). The Cosigner agrees that the manner as before default. To the extent permitted by law, upon default, you will have Borrower may agree to any forbearance or other modification of the repayment the right to give me notice that the whole outstanding principal balance, accrued schedule and that such agreement will be binding on the Cosigner. It shall not be interest, and all other amounts payable to you under the terms of this Credit necessary for you to resort to or exhaust your remedies against the Borrower before Agreement are due and payable at once. Upon default, you may also capitalize any calling upon the Cosigner to make repayment. interest and fees (i.e., add accrued and unpaid interest and fees to the principal 10. All dollar amounts stated in this Credit Agreement are in United States dollars. I balance), and increase the Margin used to compute the Variable Rate by two will make all payments in United States dollars with no deduction for currency percentage points (2 %). exchange. J. NOTICES: 11. The student Borrower's failure to complete the education program paid for with this 1. 1 will send written notice to you, any subsequent holder of this Credit Agreement, loan will not relieve any Borrower of any obligation under this Credit Agreement. and the servicer within ten days after any change in name, address, or enrollment 12. 1 understand and agree that this loan is an education loan and certify that it status (for example, if the Borrower withdraws from the School or transfers to another will be used only for costs of attendance at the School. I acknowledge that the school participating in this loan program). requested loan is subject to the limitations on dischargeability in bankruptcy 2. Any notice required to be given to me by you will be effective when mailed by first contained in Section 523 (a) (8) of the United States Bankruptcy Code because class mail to the latest address you have for me. Unless required by applicable law, either or both of the following apply: (a) this loan was made pursuant to a you need not give a separate notice to the Cosigner, if any. program funded in whole or in part by The Education Resources Institute, Inc. ( WONMISI .1 07.CSX1.IODC.0106 3 of4 ( "TERI "), a non - profit institution, or (b) this is a qualified education loan as ENFORCEABLE. TO PROTECT YOU ( BORROWER(S)) AND US (CREDITOR) defined in the Internal Revenue Code. This means that if, in the event of FROM MISUNDERSTANDING OR DISAPPOINTMENT, ANY AGREEMENTS WE bankruptcy, my other debts are discharged, I will probably still have to pay this REACH COVERING SUCH MATTERS ARE CONTAINED IN THIS WRITING, WHICH loan in full. IS THE COMPLETE AND EXCLUSIVE STATEMENT OF THE AGREEMENT 13. 1 authorize any school that I may attend to release to you, and any other persons BETWEEN US, EXCEPT AS WE MAY LATER AGREE IN WRITING TO MODIFY IT. designated by you, any requested information pertinent to this loan (e.g., enrollment NEVADA RESIDENTS: This is a loan for study. status, prior loan history, and current address). NEW YORK, RHODE ISLAND. and VERMONT RESIDENTS: I understand and agree 14. I authorize the Lender, any subsequent holder of this Credit Agreement, and their that you may obtain a consumer credit report in connection with updates, renewals of agents to: (1) advise the School of the status of my application and my loan, (2) extensions of any credit as a result of this application. If I ask, I will be informed respond to inquiries from prior or subsequent lenders or holders with respect to my whether or not such a report was obtained and, if so, the name and address of the Credit Agreement and related documents, (3) release information and make inquiries agency that furnished the report. I also understand and agree that you may obtain a to the persons I have given you as references, for the purposes of Teaming my current consumer credit report in connection with the review or collection of any loan made to address and telephone number, (4) check my credit and employment history and to me as a result of this application or for other legitimate purposes related to such loans. answer questions about their credit experience with me, and (5) disclose to TERI, the NEW JERSEY RESIDENTS: The section headings of this Credit Agreement are a Borrower, and /or the Cosigner either in connection with this transaction or any future table of contents and not contract terms. Portions of this Credit Agreement with transaction all information (including status information and non - public personal references to actions taken to the extent of applicable law apply to acts or practices information) of the Borrower and /or the Cosigner provided in connection with this that New Jersey Taw permits or requires. In this Credit Agreement, acts or practices U Credit Agreement. by you which are or may be permitted by "applicable Taw" are permitted by New Jersey 15. Waiver by Lender: You waive (give up) any right to claim a security interest in any Taw, and (ii) that may or will be taken by you unless prohibited by "applicable law" are property to secure this Credit Agreement. This does not affect any right to offset as a permitted by New Jersey law. matter of law. OHIO RESIDENTS: The Ohio laws against discrimination require that all creditors 16. If I fax my signature(s) on the first page of this Credit Agreement back to you and make credit equally available to all credit -worthy customers, and that credit reporting keep the copy I signed, I understand that under federal Taw the fax you receive will be agencies maintain separate credit histories on each individual upon request. The Ohio an original of the first page of this Credit Agreement and I will refax the first page upon Civil Rights Commission administers compliance with this law. request by Lender. I may NOT amend the Credit Agreement by making changes to the OKLAHOMA RESIDENTS: If I am in default and only if the total amount disbursed Signature Page, which are then faxed to Lender. If the Borrower faxes the Signature under this Credit Agreement is greater than $3,600 (or any higher dollar amount Page, and the Lender approves the application, you and I agree that all copies of this established by law for the payment of such fees), I agree to pay the Lender's Credit Agreement (including the fax you receive and the copy I retain), taken together, attorney's fees and court costs up to 15% of the unpaid debt. shall constitute a single original agreement. WISCONSIN RESIDENTS: For married Wisconsin residents, my signature confirms M. DISCLOSURE NOTICES that this loan obligation is being incurred in the interest of my marriage or family. No provision of any marital property agreement (pre - marital agreement), unilateral ALL APPLICANTS: statement under Section 766.59 of the Wisconsin Statutes or court decree under IMPORTANT FEDERAL LAW NOTICE— Section 766.70 adversely affects your interest unless, prior to the time that the loan is approved, you are fumished with a copy of the marital property agreement, a Important information about procedures for opening a new account: statement or a decree or have actual knowledge of the adverse provision. If the loan To help the government fight the funding of terrorism and money laundering for which I am applying is granted, I will notify you if I have a spouse who needs to activities, Federal law requires all financial institutions to obtain, verify, and receive notification that credit has been extended to me. record information that identifies each person who opens an account. N. BORROWER'S CERTIFICATION: I declare under penalty of perjury under the laws of the United States of America that the following is true and correct. I certify that What this means for you (the Borrower and the Cosigner) all information I provided to you in connection with this loan, including without limitation When you open an account, we will ask for your name, address, date of birth, the information contained in this Credit Agreement, is true, complete and correct to the and other information that will allow us to identify you. We may also ask to see best of my knowledge and belief and is made in good faith. I understand that I am your driver's license or other identifying documents. responsible for repaying immediately any funds that I receive which are not to be used or are not used for educational expenses related to attendance at the School for the academic period stated. I certify that I am not now in default on a Federal Perkins CALIFORNIA RESIDENTS: I have the right to prohibit the use of information contained Loan, a Federal Stafford Loan, a Federally Insured Student Loan, a Federal in my credit file in connection with transactions not initiated by me. I may exercise this Supplemental Loan for Students (SLS), a Federal PLUS Loan, an Income Contingent right by notifying the consumer credit reporting agency. A married applicant may apply Loan, a Federal Consolidation Loan, a Federal Ford Direct Loan, or any other for a separate account If you take any adverse action as defined by Section 1785.3 of education loan received for attendance at any school. the California Civil Code and the adverse action is based, in whole or in part, on any 0. STATE - SPECIFIC COSIGNER NOTICES: For the purposes of the following information contained in a consumer credit report, I have the right to obtain within 60 notices only, the words "you" and "your" refer to the Cosigner, where applicable, not to days a free copy of my consumer credit report from the consumer reporting agency the Lender. who fumished you my consumer credit report and from any other consumer credit FOR OBLIGORS COSIGNING IN VERMONT For purposes of the following reporting agency which compiles and maintains files on consumers on a nationwide notice, the words "you" and "your" refer to any Cosigner, not to the Lender. basis. I have the right as described by Section 1785.16 of the California Civil Code to "Credit Agreement" means this Credit Agreement. dispute the accuracy or completeness of any information in a consumer credit report furnished by the consumer credit reporting agency. NOTICE TO COSIGNER: CALIFORNIA and UTAH RESIDENTS: As required by California and Utah Taw, I am YOUR SIGNATURE ON THIS CREDIT AGREEMENT MEANS THAT YOU ARE hereby notified that a negative credit report reflecting on my credit record may be EQUALLY LIABLE FOR REPAYMENT OF THIS LOAN. IF THE BORROWER DOES submitted to a credit reporting agency if I fail to fulfill the terms of my credit obligations. NOT PAY, THE LENDER HAS A LEGAL RIGHT TO COLLECT FROM YOU. (For purposes of the following two notices, the word 'you" refers to the Borrower and the Cosigner, not the Lender.) IOWA RESIDENTS: If you are an Iowa resident and your amount financed is $25,000 or less, this is a consumer credit transaction. IOWA. KANSAS and NEBRASKA RESIDENTS: (For purposes of the following notice, the word "you" refers to the Borrower and the Cosigner, not the Lender.) NOTICE TO CONSUMER: 1. Do not sign this Credit Agreement before you read it. 2. You are entitled to a copy of this Credit Agreement. 3. You may prepay the unpaid balance at any time without penalty and may be entitled to receive a refund of unearned charges in accordance with law. MARYLAND RESIDENTS In Paragraph L.1, Lender and I have agreed that this Credit Agreement is governed by federal law and the laws of OHIO, without regard to conflict of laws rules; if any court should nevertheless determine that this Credit Agreement is subject to Maryland laws concerning credit, then only to the extent that Maryland law applies, Lender and I agree and elect that this loan is made under and governed by Subtitle 10, Credit Grantor Closed End Credit Provisions, of Title 12 of the Commercial Law Article of the Annotated Code of Maryland, except as preempted by federal law. MISSOURI RESIDENTS: ORAL AGREEMENTS OR COMMITMENTS TO LOAN MONEY, EXTEND CREDIT OR FORBEAR FROM ENFORCING REPAYMENT OF DEBT INCLUDING PROMISES TO EXTEND OR RENEW SUCH DEBT ARE NOT f wos o4rar.r1EO.06- 07.CSX1.10DC.0106 4 of 4 FEDERAL AND CALIFORNIA COSIGNER NOTICES For the purposes of these Notices, the words "you" and `your" refer to the Cosigner, not the Lender. NOTICE TO COSIGNER (Traduccion en lnciles Se Reguiere Por La Lev): You are being asked to guarantee this debt. Think carefully before you do. If the Borrower doesn't pay the debt, you will have to. Be sure you can afford to pay if you have to, and that you want to accept this responsibility. You may have to pay up to the full amount of the debt if the Borrower does not pay. You may also have to pay late fees or collection costs, which increase this amount. The creditor can collect this debt from you without first trying to collect from the Borrower. The holder of the loan can use the same collection methods against you that can be used against the Borrower, such as suing you, garnishing your wages, etc. If this debt is ever in default, that fact may become part of your credit record. This notice is not the contract that makes you liable for the debt. AVISO PARA EL FIADOR (Spanish Translation Required by Law) Se le esta pidiendo que garantice esta deuda. Pi6nselo con cuidado antes de ponerse de acuerdo. Si la persona que ha pedido este pr6stamo no paga la deuda, usted tendra que pagarla. Est6 seguro de que usted podra pagar si sea obligado a pagarla y de que usted desea aceptar la responsabilidad. Si la persona que ha pedido el pr6stamo no paga la deuda, es posible que usted tenga que pagar la suma total de la deuda, mas los cargos por tardarse en el pago o el costo de cobranza, to cual aumenta el total de esta suma. El acreedor (financiero) puede cobrarle a usted sin, primeramente, tratar de cobrarle al deudor. Los mismos metodos de cobranza que pueden usarse contra el deudor, podran usarse contra usted, tales como presentar una demanda en corte, quitar parte de su sueldo, etc. Si alguna vez no se cumpla con la obligaci6n de pagar esta deuda, se puede incluir esa informaci6n en la historia de credito de usted. Este aviso no es el contrato mismo en que se le echa a usted la responsibilidad de la deuda. [wO504181.1,EO.06- 07.CSX1.1 ODC.0106.FD Notice to Cosigner SUPPLEMENT TO LOAN REQUEST /CREDIT AGREEMENT for IOWA, NEW YORK, and SOUTH CAROLINA RESIDENTS You agree to pay the debt identified below although you may not personally receive the education or money. You may be sued for payment although the person who receives the education or money is able to pay. The Loan Amount listed below may be higher than the approved loan amount and does not include interest, late fees, court costs, attorney's fees and other charges that are stated in the credit agreement. You may also have to pay some or all of these costs and charges under the terms of the credit agreement that you are guaranteeing. You will receive a disclosure of the approved loan amount when the loan is disbursed. This notice is not the credit agreement that obligates you to pay the debt. Read the Credit Agreement for the exact terms of your obligation. IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY (Name of Student Borrower) (Social Security Number of Student Borrower) See Credit Agreement (Name of Lender) Education One Student Loan $ Will be disclosed to you (Kind of Debt) (Amount of Loan) I have kept a complete copy of this notice and the Credit Agreement that obligates me and the Student Borrower on this debt. (Date) (Signature of Non - Student Cosigner) Cosigner: If you are a resident of Iowa, New York, or South Carolina, please SIGN, DATE, and RETURN (by mail or fax) an original of this notice with the Signature Page of this Credit Agreement and other requested documents. f W0504181.1} E0.06- 07.CSX1.10DC.0106.MS NOTICE TO COSIGNER SUPPLEMENT TO LOAN REQUEST/CREDIT AGREEMENT for WEST VIRGINIA RESIDENTS You are being asked to guarantee this debt. Think carefully before you do. If the Borrower doesn't pay the debt, you will have to. Be sure you can afford to pay it if you have to, and that you want to accept this responsibility. You may have to pay up to the full amount of the debt if the Borrower does not pay. You may also have to pay late fees or collection costs, which increase this amount. The creditor can collect this debt from you without first trying to collect from the Borrower. The creditor can use the same collection methods against you that can be used against the Borrower, such as suing you, garnishing your wages, etc. If this debt is ever in default that fact may become part of your credit record. This notice is not the contract that makes you liable for the debt. IDENTIFICATION OF DEBT YOU MAY HAVE TO PAY (Name of Student Borrower) (Social Security Number of Student Borrower) See Credit Agreement (Name of Lender) Education One o Student Loan $ Will be disclosed to you (Kind of Debt) (Amount of Loan) I have kept a complete copy of this notice and the Credit Agreement that obligates me and the Student Borrower on this debt. (Date) (Signature of Non - Student Cosigner) Cosigner: If you are a resident of West Virginia, please SIGN, DATE, and RETURN (by mail or fax) an original of this notice with the Signature Page of this Credit Agreement and other requested documents. {w0504181.1} EO.06- 07.CSX1.10DC.0106.NW EXHIBIT B Exhibit 99.17 Page I of 3 EX -99 14 national- ex9917 031107.htm EXHIBIT 99.17 Exhibit 99.17 y' p 2 �1VARG CHASE N.A. J1. OAN 1�E BANK, A This Pool Supplement (the " Supplement ") is entered into pursuant to and forms a part of that certain Amended and Restated Note Purchase Agreement dated as of May 1, 2002, as amended or supplemented from the date of execution of the Agreement through the date of this Supplement (the " Agreement '), by and between The First Marblehead Corporation ("FMC and 3PMorgan Chase Bank, N.A., successor by merger to Bank One, N.A. (Columbus, Ohio) (the " Program Lender "). This Supplement is dated as of March 8, 2007. Capitalized terms used in this Supplement without definitions have the meanings set forth in the Agreement. Article 1: Purchase and Sale In consideration of the Minimum Purchase Price, the Program Lender hereby transfers, sells, sets over and assigns to The National Collegiate Funding LLC (the " Depositor "), upon the terms and conditions set forth in the Agreement (which are incorporated herein by reference with the same force and effect as if set forth in full herein), each student loan set forth on the attached Schedule 1 (the " Transferred Bank One Loans ") along with all of the Program Lender's rights under the Guaranty Agreement, and any of the Program Lender's rights in or to the certain account pledged by TERI as collateral for its obligations under the Guaranty Agreement (the "Pledged Account "), in each case specifically relating to the Transferred Bank One Loans. The Depositor in turn will sell the Transferred Bank One Loans to The National Collegiate Student Loan Trust 2007 -1 (the " The Program Lender hereby transfers and delivers to the Depositor each Note evidencing such Transferred Bank One Loan and all Origination Records relating thereto, in accordance with the terms of the Agreement. The Depositor hereby purchases said. Notes on said terms and conditions. Article 2: Price The amount paid pursuant to this Supplement is the Minimum Purchase Price, as that term is defined in Section 2.05 of the Agreement. Article 3: Representations and Warranties 3.01. By Program Lender The Program Lender repeats the representations and warranties contained in Section 5.02 of the Agreement for the benefit of each of the Depositor and the Trust and confirms the same are true and correct as of the date hereof with respect to the Agreement and to this Supplement. 3.02. By Depositor The Depositor hereby represents and warrants to the Program Lender that at the date of execution and delivery of this Supplement by the Depositor: (a) The Depositor is duly organized and validly existing as a limited liability company under the laws of the State of Delaware with the due power and authority to own its properties and to conduct its http: / /wwvv.sec.aov /Archives /edgar /data/1389749/ 000089968107000230 /national- ex9917 ... 9/28/201.1 Exhibit 99.17 Page 2 of 3 business as such properties are currently owned and such business is presently conducted, and had at all relevant times, and has, the power, authority and legal right to acquire and own the Transferred Bank One Loans. (b) The Depositor is duly qualified to do business and has obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business shall require such qualifications. (c) The Depositor has the power and authority to execute and deliver this Supplement and to carry out its respective terms; the Depositor has the power and authority to purchase the Transferred Bank One Loans and rights relating thereto as provided herein from the Program Lender, and the Depositor has duly authorized such purchase from the Program Lender by all necessary action; and the execution, delivery and performance of this Supplement has been duly authorized by the Depositor by all necessary action on the part of the Depositor. (d) This Supplement, together with the Agreement of which this Supplement forms a part, constitutes a legal, valid and binding obligation of the Depositor, enforceable in accordance with its terms. (e) The consummation of the transactions contemplated by the Agreement and this Supplement and the fulfillment of the tenns hereof do not conflict with, result in any breach of any of the terms and provisions of, or constitute (with or without notice or lapse of time) a default under, the governing instruments of the Depositor or any indenture, agreement or other instrument to which the Depositor is a party or by which it is bound; or result in the creation or imposition of any lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument; or violate any law or any order, rule or regulation applicable to the Depositor of any court or of any federal or state regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Depositor or its properties. (f) There are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency or other governmental instrumentality having jurisdiction over the Depositor or its properties: (i) asserting the invalidity of the Agreement or this Supplement. (ii) seeking to prevent the consummation of any of the transactions contemplated by the Agreement or this Supplement, or (iii) seeking any determination or ruling that is likely to materially or adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of the Agreement or this Supplement. Article 4: Cross Receipt The Program Lender hereby acknowledges receipt of the Minimum Purchase Price. The Depositor hereby acknowledges receipt of the Transferred Bank One Loans included in the Pool. Article 5: Assignment of Orijaination, Guaranty and Servicing Rights The Program Lender hereby assigns and sets over to the Depositor any claims it may now or hereafter have under the Guaranty Agreement, the Origination Agreement and the Servicing Agreement to the extent the same relate to the Transferred Bank One Loans described in Schedule 1 , other than any right to obtain servicing after the date hereof. It is the intent of this provision to vest in the Depositor any claim of the Program Lender relating to defects in origination, guaranty or servicing of the Ioans purchased hereunder in order to permit the Depositor to assert such claims directly and obviate any need http:// 89749/000089968107000230/n.ational-ex9917 ... 9/28/2011 Exhibit 99.17 Page 3 of 3 to make the same claims against the Program Lender under this Supplement. The Program Lender also hereby assigns and sets over to the Depositor any claims it may now have or hereafter have to the Pledged Account pledged under the Guaranty Agreement and under the Deposit and Security Agreement that relate to the Transferred Bank One Loans, and the Program Lender hereby releases any security interest it may have in such Pledged Account relating to the Transferred Bank One Loads. The Program Lender hereby authorizes the Depositor, its successors and assigns, to file in any public filing office where a Uniform Commercial Code Filing with respect to collateral pledged by TERI is of record, any partial release or assignment that it deems necessary or appropriate to reflect in the public records the conveyance and assignment effected hereby. [Remainder of page intentionally blank] IN WITNESS WHEREOF, the parties have caused this Supplement to be executed as of the date set forth above. THE FIRST MARBLEHEAD CORPORATION By: /s/ John A. Foxgrover John A. Foxgrover Senior Vice President JPMorgan Chase Bank, N.A, as successor by merger to BANK ONE, N.A. (Columbus, Ohio), By: /s/ Joseph F. Sergi Joseph F. Sergi Vice President THE NATIONAL COLLEGIATE FUNDING LLC By: GATE Holdings, Inc., Member By: s/ John A. Foxgrover John A. Foxgrover Vice President Schedule 1 [Transferred Bank One Loans] http: / /www.sec.gov /Archives /edgar /data /13 89749/ 00008996 8107000230 /national- ex9917 ... 9/28/2011 SHERIFF'S OFFICE OF CUMBERLAND COUNTY Ronny R Anderson Sheriff ;x : ' heri , FF ji6y ni r7[/Hate“ Jody S Smith y ; i , , _9 p9 Chief Deputy Richard W Stewart "'-'BEi�,1 AND L, `J i„,. 3 J a 3 Solicitor -.p ;,-;:r PENNS`f 1_`t .',,-Alr, National Collegiate Student Loan Trust 2007-1 vs. Case Number George Boychock 2013-7581 SHERIFF'S RETURN OF SERVICE 12/27/2013 07:33 PM - Deputy Amanda Ebersole, being duly sworn according to law, served the requested Complaint& Notice by handing a true copy to a person representing themselves to be Ralph James, Father, who accepted as"Adult Person in Charge”for Matthew James at 17 Dulles Dr. W, East Pennsboro Township, Camp Hill, PA 17011. ( I�: L � } AMANDA Er OLE, DEPUTY 12/30/2013 08:43 PM - Deputy Shawn Harrison, being duly sworn according to la se ed the requested Complaint & Notice by"personally" handing a true copy to a person representin' ■- selves o be the Defendant, to wit: George Boychock at 1 Lincoln Ave., Carlisle Borough, Carlisle, ' ' i 013. L►.1 d S 'I-TO"' A" :•N, DEPUTY SHERIFF COST: $67.73 SO ANSWERS, December 31, 2013 RON�R ANDERSON, SHERIFF NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1 VS. In the Court of Common Pleas of CUMBERLAND County, Pennsylvania Plaintiff : Civil Division NO: 13-7581 GEORGE BOYCHOCK : Praecipe to Withdraw the Second defendant from MATTHEW JAMES : the Civil Complaint Defendant : PRAECIPE TO WITHDRAW DEFENDANT MATTHEW JAMES To the Prothonotary of CUMBERLAND County Pennsylvania: Please enter the above Praecipe to Withdraw the Second Defendant, Matthew James, from the Civil Complaint. Thank you, chael F. atchford, quire Edwin A. Abrahams & Associates, P.C. Lawyer ID # 8628 120 N. Keyser A, enue Scranton, PA 18514 cJfl Orr 0.50 PD ivrry of 3505 e 3oa4q8 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NATIONAL COLLEGIATE STUDENT LOAN TRUST 2006 -3 Plaintiff : CIVIL DIVISION vs. : NO: 13 -7581 GEORGE BOYCHOCK MATTHEW JAMES Defendant : CERTIFICATE OF SERVICE I, Michael F. Ratchford, Esquire, hereby certify that on the date indicated below, I served a copy of the Praecipe to Withdraw Second Defendant, Matthew James, in the above captioned matter by mailing the same via First Class United States mail, postage prepaid addressed as follows: Alex Hvizda, Esquire 2931 N. Front St. Harrisburg, PA 17110 Edwin A. Abrahamsen & Associates, P.C. Date: February 18, 2014 B ichael F. Ratchfo • , Esqui Attorney I.D. No. 86285 120 N. Keyser venue Scranton, PA 8504 (570) 558 -5510