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Supreme CouT� �t oPennsylvania COu O Commo Tleas For Prothonotary Use Only. CCil 11 C Sheet I 'l�r.. Docket No: ST� County The information collected on this form is used solely for court administration purposes. This form does not supplement or replace the filing and service ofpleadings or other papers as required by law or rules of court. Commencement of Action: Ix Complaint 13 Writ of Summons (� Petition E E] Transfer from Another Jurisdiction [j Declaration of Taking C Lead Plaintiff's Name: Lead Defendant's Name: National Collegiate Student Loan Trust r (�- _04 w(1PD� , ArF -- 5V i T Dollar Amount Requested: within arbitration limits I Are money damages requested? [@ Yes 0 No (check one) f 1joutside arbitration limits O N Is this a Class Action Suit? r] Yes El No Is this an MDJAppeal? 0 Yes El No A. Name of Plaintiff/Appellant's Attorney: MICHEAL RATCHFORD, ESQ. t (� 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 E3 Intentional ® Buyer Plaintiff Administrative Agencies 0 Malicious Prosecution El Debt Collection: Credit Card 0 Board of Assessment Motor Vehicle Debt Collection: Other [3 Board of Elections 13 Nuisance STUDENT LOAN Dept. of Transportation S 0 Premises Liability Statutory Appeal: Other © Product Liability (does not include E mass tort) ® Employment Dispute: Q Slander/Libel/ Defamation Discrimination C 0 Other: [3 Employment Dispute: Other Zoning Board T (� Other: I ® Other: O MASS TORT f Asbestos N [3 Tobacco 0 Toxic Tort - DES ® Toxic Tort -Implant REAL PROPERTY MISCELLANEOUS 3 Toxic Waste Other: ( Ejectment Q Common Law /Statutory Arbitration B ® Eminent Domain/Condemnation [3 Declaratory Judgment Ground Rent © Mandamus Landlord/Tenant Dispute [3 Non - Domestic Relations ® Mortgage Foreclosure: Residential Restraining Order PROFESSIONAL LIABLITY ® Mortgage Foreclosure: Commercial Quo Warranto Dental ® Partition ® Replevin Legal ® Quiet Title © Other: E3 Medical ® Other: ® Other Professional: Updated 1/1/2011 IN THE COURT OF COMMON PLEAS OF �` �' � a i T , : i 3, CUMBERLAND COUNTY, PENNSYLVANIA i ,, !` 1: 1 0 NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -4 CIVIL ACTION ' -� "� B ` k_ r-1' D c/o NCO Financial Systems Inc. P Pl N 5 (LV A N I A 5100 Peachtree Industrial Blvd Norcross, GA 30071 Plaintiff vs. (,� . � t �� Cv ` NO: REBECCA WUNDERS 813 HIGHLAND CT : MECHANICSBURG PA 17050 -1817 Defendant and : RYAN MITSUI 420 INDEPENDENCE CT MECHANICSBURG PA 17050 -1842 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. MIDPENN LEGAL SERVICES 401 EAST LOUTHER STREET CARLISLE, PA 17013 �' �3 '� S Q 717- 243 -9400 a1iU� 1 3�3`��S N1302522 x IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -4 CIVIL ACTION c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd Norcross, GA 30071 : Plaintiff VS. : NO: REBECCA WUNDERS 813 HIGHLAND CT MECHANICS_ BURG PA 17050 -1817 Defendant and RYAN MITSUI 420 INDEPENDENCE CT MECHANICSBURG PA 17050 -1842 Defendant COMPLAINT Plaintiff, NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -4, by and through its attorneys, Edwin A. Abrahamsen & Associates, P.C., complains of the Defendants as follows: 1. The defendant REBECCA WUNDERS is an adult individual residing at 813 HIGHLAND CT MECHANICSBURG PA 17050 -1817. 2. The defendant RYAN MITSUI is an adult individual residing at 420 INDEPENDENCE CT MECHANICSBURG PA 17050 -1842. 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 $15,131.41. 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 $15,131.41 plus costs of suit and any other relief as the Court deems just and appropriate. Re ect ly b itt A M OUT F. Ratchf rd, Esq ' e Attorney I.D. No .: 8628 120 N. Keyser e Scranton, PA 1 504 mratchford @e - law.com Phone: 800 -50 -1665 Fax: 570 -558 -5511 VERIFICATION I, Michael F. Ratchford, attorney for Plaintiff, NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007 -4, 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. c e . Ratchford, squire EXHIBIT A N©TBDISCLOSURESTATI�J EW f 9.83§.07 Botrowcr(c) REBECCA A WjR CHS 0SI7646i RYAN MITSUI tsar No, Student; -REJ A WUN;MS Dat e: tly 9 20D7 REBECCA A WUNOERS Lender Noun mW Address; $15 N CASS AVE 2E LHORTEn F A4bl§C N A WESfMONT, IL 60559 USA ]2S CANTON STREET NOR WOOD. MA 02067 Thisdiscloture swemext relates to year Loan Nm disbuad an July 9, 2OD7 Because yaw Loan is either being disbursed or eraing repayment, or the repaymex term are Mri{ momBed. the rally , ins Information ob" your Lams Is bring given to you. ANNUAL PP.RCENTAGF "TP. FINANCE CHARGE Amoral financed Total of Payments Tice con aryaar eredk we Yiw ,laax anrrian nun adu Tie armuN of eted'u yro+idrd The aao,ao! you wan law paid efkr yearly ram win era yea as you or on y aw behalf. yae tart n,aac in payments scheduled. 12.132 96 S t�, K00 S 9.ODD.W S 30.3960 Your raymers schedule will be• Numbaorpoymom Amowtol`Nymans WbsaPo sandne 240 S 126.65 On rho 30th of cacti momb iradn 712009 I VARIABLE RATE: The Aomwl Pclec"t Ratc, which 6 based on an index etas it mnt=in, may incsepa during the tam of the loan if the index rate inaeasos. The Index Is (check om)r 1 [] Prime Rate Index Adjusted Monthly - The highest U.S. bank prime sate poltGfbed in the 'MSomey Rates' section of The waStrew Js+ MI ttaxlem F.ditionnl on the as business day of each calendar month. Prime Rata Index Adjusted Qaarserly -The highest U.S. bank prime rate pub&ibed in the'Money Rates" section of t Di; W II Ilan Journal (FASem M;on) on the aq business day of each calendar quarter. � 0 LIBOR Index Adjusted Quarterly • The arsaaje of the ono- month London lmerbortit Offered Ruda published is the 'Money Rater' section of The mall area Jawmri (Baoem Bditlon) on the first business day of cacti of the three 0) calendar months immediately pmcedinj the fan day of each cakrdarquarter. [% LIBOR index A4justed Monthly • Me taro -rtromh London Intatlmnk Offered Rate published in the 'Money Rotes' i section of The WnD Street loamal (Famem Fdition ) on the first business day of the preceding c4le dor month. Any increase in the index and the Annual Pacentaje Rate which occurs white principal paymeme ace deferred will brcreme t oatoum of soy correct and all fusum payments. Any increase in the Index ord the Annual Percentage Rate which occurs while principal and Interest payments ace dckrad will increase the a no" of oR future payments. Any Increase to the index and the Annual Pecernuage Rate which occurs after you have begw to make priaclpal and interest payments an your loan will inaeaw the amount of your future principal and lift" pxymcros beiimdng with yaw next ammtal payment adjustment time. For exampk. assume you obtain a knot in your Itnlor you, in the awnount of 610. 000, a an interest rase or 1 1 and you defer principal and Interest payments until after your poduatfon, and the repayment tam of the loan Is 20 yeas. If the interest rate increased to 12 an Jmwary Isl of yow senior year. the interest which teens white principal and imaeal payments ace deferred will increase by $91.01, and your mumbly principal and imagist payments would increase by $9.37. LATE CHA RGES; if a payment Is more than 15 days ate, you may be charged $5.00 or 5% of the payment, whichever is less. if you default, Lander (or any subsequent holder or your loan Note) may increase the margin used to compute the Annual Percentage Role by two pcmmtap points (2%6 PREPAYMENT; If you pay oRearly y ou will not h to pa a penalt F.01Mglui All numerical disclosures; except the fate payment disclosure ant estimates. See your Contract documents fur any additional information about non•paymcni , detach. any required mpeymeal in roll before the scheduled dale, any security Interest and prepayment refunds and peaotdes. Media, Amara or Noe (A nom Rnm ead plus Prepaid Onanee Chargal $ 9 B36•M hemkation of Amount Financed Amami pold to RERF.CCA A W UNDERS ad S Amount paid to RYAN 0 MITSUI j 910=00 Taal Amwm Financed s 9.000.00 Ineodastion of Prepaid RmnoaCaatge Origination In 3 836.07 Tout prapsN19miceClerpis) I 836.07 C AVJUOP AstrdveUnde:padualeLoan File cc" From: unknown Page: 114 Date: 5/22=7 6 :59 :32 PM aaiA NQN,NB TIABd.>Z Orr A —1 IN A CONSUMMIt CREW 1RANISACITON AWWO Undergraduate Loan Acadelttic Period: 072007. 0912007 Leodel ; Charter Ond Bank; NJL School: ILUNOIS INSTITUTE OF ART - CH Goan AnxKvd Requested: $2000.00 Repaymaot Option: Full Deltertl Deferral Period Mtugbl': 6.76 Repeyrnent Pertod Margin 575 Loan Odglnattorr pee Percentage 0.50 r 'Vaatable bu tatrttls SgWla" UWR rndot thi b 1ph 0.1 t'•: a `i? F.+ :3SwtLLt:L2�5++�3 x .SL ii it. 3 .;x� _.dr«c• d Baorttamw Name: R ,a A W undem Horne Adtfress: 5 15 N Can Ave 2e Westmont. IL W669 Soo(ai Secsrrlt)r .I -WD3 bate of ©)rth: 19W Home Telephone: (708) 699••2648 Mobile Telephone: !;••Mg Address: Stodard coksrrslip tdieck orbs box): 1S U.S. CKM G E0v%Av Wet -Cilf wa Anxh ttont A bads evy d QS orst shad visa aid) Now: Pats W lefererrs norm and 8111*0116 CNN Ivab h ow d ttr coww sr. Potaa al ftetw aaa Name: Wd— Haskit R0*raao Florae Tsi ak (7i7I30445 V44.tk T44#; Reference Sfrest Address: a tAbods pr Rafasmot Ci1vlt3taterCi : A IT .. .. .. .r � �r• iry S3 '.�iT4'.C.w'a.•�5���[SU.�'t�1t� �r'�t41�•4r�; Coelgner Name: Rven r- Wftui 14ome Addfeas: 615 H Cass Avs VVf *bmnt IL 8rlda0 Social security # -4792 Date of Both: rim Hama Telephone: (709) 845 -2US Mobile Telephone: E-enW[ Address: Nano you evor datadnd orb • stWW ben or declonat WmWt tcyt 01 D Yin CwontEnviown RRIDMTOt1ERRt�S3i OW 6rpbyerTcirglnrN:(tr3vl3r4 97 C WdP0615m; doss aaArwartar Yeats Than: 3 Yom Ysata.s1FMvbPAErM0oymsnt O yt" . Altmolg4 chlM Support of sop wain raatnbnaaca 1n MON do not bars to be revestrd Ir 7W de not ward Own ammider.d tor•apsyirM Uft obNomon. it you are WAnp on such addadoasl fnwcner ova" p=vWa de".On a sopanno shoat of papa. Coaitptar CWmetratdp (dret ono bong: a U.S. ctlfmrt G EAptb4 NOn•Cttaera (AAK;h Emt A WA Copy of CI S) Now Paraoraal rstaaaexs tsatrx and s0drarrs taatrotat anti, tort o► the sardont. Porsonei Rdwoms Name: 9M Itdoi ROWSWA HOWN Tel It VW 94d•+'AG5 Wr t Toll ReWonos BWO Ad*eoa Retetseboa C81dt3bslarZJpc dia6r �1 By ed rtiFONtae, t cw* door 1 haw f4 sadeaPsad and ss- to do tams of a d•oadanke do obtistdow sd f*& em ad( Are (3) pales Lam R04"MO OM A�vrraml llD 0 r-0i t,lAC!•ItlliCt ld6 Ci" waraasesst} ! tsisopoa Clad aroy ptaoxaa v& L=wiv* a shin s false swemad m as dis foraa is srb)eot to pasha, whtc3 au' Leelode Eros Of bwtkummuaL Iris Credit tWoomon is sW4 d treader oat W I andrrstrd *n r are mat r0 fAX tq sl5aa n m a to deaotdwpy dais t serer Aptamsar aid my rdaMd notiayt ttu a9 wNS bra if I elboose ro riot pY tfp4asfp an a to tcfgo 06 Cradle Avasowa snit o" aaLLd ROSMdut mgobs a*==eq I lamed: (() Baer damnedo to bs so 444-0-k viewtuv wow adept std stele tar. M attry tint prtisea sr prbdeta off —d dratede eeeerd d his Credo L d cIvoo A�t hod ndusd sodoet at be m orf �aed docomaK (HO to at bvr►nett vr[att the codsby dwwwkt000tdr tmme tmlt s 4w od (r.) that" AIMUO rs W41 amt» Pam br Ankk S tY the trtdrarm Cowprde2 Code, ad My obWpilaos order aha Ctv%fd AVtowa, will eta be xtb)ora o btu aay oaerfar of my oldlaatloas wtU bo rA JuO to. Ar*Jv 9 of the u-;Aam 4mifacfat Code. Dr mtmsea of that T011owin8 DbtlOta. "Y@e m"M tbf Agnpvser sod 0mircoer, agA The TAader. I+OR AI.&WAA RESIDENTS: CAUTION — IT IS DIPORTAN7 T&1T VQU TIiOROV'CHLY READ THE COY - M-W PHV'FORR You WN i7. FOR WISCONSIN RE61DMM - NOr1CF TO (R.rSMUM (ar) DO NOT SIGN THIS C:RWrr AGRI RMENT WORK YOU RRAD THE WRITING ON THE FaU CAWING PAGES EVEN IF OTHERR'!SE ADTqISEIL (b) INN NOT SICK TII16 MMII' ACRUMBNT IF IT CONTAINS ANY BLANK FACES. - (e) YOU ARE BNTTTLED TO AN ENACT' COPV OF AN1 AGREI M18NT YOU SWN. (t0 YOU RAVI TRY. RICHT AT .W1 TIJM TO PAT IN ADVANC.R THE UNPAID BAJ NCX UNDER THU (ME II AGREIMIEn AND YOU )L1Y HE ENrrrLED TO A PAW"At RR FMD OF TTiC FINANCE CUMGF• w1 Sbnatwe Of Borrower � jsg Datd— 6 ay soamn©TH1S CREWT AtiiRB9NE I3 0W, LCERn".THAT I WEND TO (I)•APPLY FOR JOI NT CREDITAND (11) BE JOIUTLY LhABLE TAUT" THE t#IER , OR THIS LOAN. / '�"� SignaltrreofCosignet [late 62 Obi" AB.07 -08.CSX1.10DC.1106 t OER COPY • PNQi_RF_0748_CSX1_F X WUNDEM- A105176A63.pdf AVJUDP In this Credit Agreement, the words "I ", "me ", "my ", and "mine" mean the person(s) however, that if the student Borrower begins a medical residency or internship during who signed this Credit Agreement as Borrower and Cosigner. The words 'you", 'your", the Deferment Period, then the Deferment Period will end 180 days after the day the 'Yours", and "Lender' mean Charter One Bank, N.A., its successors and assigns, and residency or internship ends, but no more than 8'/ years after the Disbursement Date. any other holder of this Credit Agreement. "School" means the school named at the 4. The "Repayment Period" begins the day after the Deferment Period ends. If there is top of the first page of this Credit Agreement. The "servicer" means the Lender or any no Deferment Period for my loan, the Repayment Period will begin when my loan is entity it designates to service my loan. fully disbursed. The Repayment Period is 20 years unless monthly payments equal to A. PROMISE TO PAY: I promise to pay to you the principal sum of the Loan Amount the minimum monthly payment amount (See Paragraph E.2) will repay all amounts Requested shown on the first page of this Credit Agreement, to the extent it is owed in less than 20 years, in which rase the Repayment Period will be the number of advanced to me or paid on my behalf, and any Loan Origination Fee added to my loan months necessary to pay in full the amount I owe at the minimum payment. (see Paragraph F) (together, the "Principal Sum's, interest on such Principal Sum, D. INTEREST: interest on any unpaid interest added to the Principal Sum and late fees (see 1. Accrual — Beginning on the Disbursement Date, interest will be calculated at the Paragraph E.6). Variable Rate (Paragraph D.2) and charged on the Principal Sum, and on any unpaid B. IMPORTANT — READ THIS CAREFULLY: interest later added to the Principal Sum according to Paragraph D.3. During the 1. When you receive my signed Credit Agreement, you are not agreeing to lend me Repayment Period, interest will be calculated at the Variable Rate and charged on the money. If you decide to make a loan to me, you will electronically transfer the loan outstanding balance of this Credit Agreement until all amounts are paid in full. Interest funds to the School for me, mail a loan check to the School for me, or mail a loan will be calculated on a daily simple interest basis. The daily interest rate will be equal check directly to me. You have the right to not make a loan or to lend an amount less to the annual interest rate in effect on that day, divided by the number of days in that than the Loan Amount Requested. I agree to accept an amount less than the Loan calendar year. Amount Requested and to repay that portion of the Loan Amount Requested that you 2. Variable Rate — The "Variable Rate" is equal to the Current Index plus a Margin. actually lend to me along with interest and all other amounts I owe (see Paragraph A). The Margins for both the Deferment Period and the Repayment Period are shown on You have the right to disburse my loan through an agent. At your option, you may also the first page of this Credit Agreement. In no event will the Variable Rate exceed the make any loan check co-payable to me and the Cosigner or to me and the School. maximum interest rate allowed by the laws of the State of Ohio. The Variable Rate will 2. HOW I AGREE TO THE TERMS OF THIS LOAN. By signing this Credit change monthly on the first day of each calendar month (the "Change Date(s)") if the Agreement, and submitting it to the Lender, I am requesting that you make this loan to Current Index changes. The "Current Index" for any calendar month (or for any shorter me in an amount equal to the Loan Amount Requested plus any Loan Origination Fee period beginning on the Disbursement Date and ending on the last day of a calendar described in Paragraph F of this Credit Agreement. If you approve this request and month) is based on the one -month London Interbank Offered Rate ( "LIBOR ") as agree to make this loan, you will notify me in writing and provide me with a Disclosure published in the "Money Rates" section of The Wall Street Journal (Eastern Edition). Statement, as required by law, at the time the loan proceeds are disbursed. The The index for each calendar month (or for any shorter period beginning on a Disclosure Statement is incorporated herein by reference and made a part hereof. Disbursement Date and ending on the last day of a calendar month) will equal the The Disclosure Statement will tell me the amount of the loan which you have LIBOR rate published on the first business day of the immediately preceding calendar approved, the amount of the Loan Origination Fee, and other important information. I month, rounded to the nearest one - hundredth of one percent (0.01 %). If The Wall will let you know that I agree to the terms of the loan as set forth in this Credit Street Journal (Eastern Edition) is not published or the Current Index is not given on Agreement and in the Disclosure Statement by doing either of the following: that date, then the Current Index will be determined by using the immediately (a) endorsing or depositing the check that disburses the loan proceeds; or (b) allowing preceding published Current Index. If the Current Index is no longer available, you will the loan proceeds to be used by or on behalf of the student Borrower without choose a comparable index. objection. Upon receipt of the Disclosure Statement, I will review the Disclosure 3. Capitalization — If I have elected the "Full Deferral" repayment option (the Statement and notify you in writing if I have any questions. If I am not satisfied with applicable repayment option is stated on the first page of this Credit Agreement), I am the terms of my loan as disclosed in the Disclosure Statement, I may cancel my loan. not obligated to make any payments until the loan enters the Repayment Period and To cancel my loan, I will give you a written cancellation notice within ten (10) days after you will add unpaid accrued interest to the principal loan balance as of the last day of I receive the Disclosure Statement. If loan proceeds have been disbursed, I agree that each calendar quarter (the last day of December, March, June and September) during I will immediately return the loan proceeds to you, will not endorse any check which the Deferment Period and as of the last day of my Deferment Period. Interest that is disburses the loan proceeds and will instruct the School to return any loan proceeds to added to principal is called "Capitalized" interest. Capitalized interest will be treated as you. If I give notice of cancellation but do not comply with the requirements of this principal. In addition, if I am in default (see Paragraph 1) and the loan has been sold to Paragraph B.2, this Credit Agreement will not be canceled and I will be in default of TERI (see Paragraph L.12), TERI may capitalize accrued and unpaid interest as of the this Credit Agreement. (See Paragraph I.) date it purchases my loan. I understand that you will also add all accrued and unpaid C. DEFINITIONS: interest to the principal balance of my loan at the end of any forbearance period (see 1. "Disbursement Date" means the date or dates on which you lend money to me in Paragraph H). In all cases, the sum of interest you capitalize plus the then - consideration for my Credit Agreement and will be the date(s) shown on any loan outstanding principal balance is thereafter considered the principal balance, and check you prepare or the date(s) you initiate any electronic funds transfer. interest will accrue on the new principal balance. 2. The "Deferment Period" will begin on the Disbursement Date and end on the E. TERMS OF REPAYMENT: Deferment End Date. 1. Deferment Period — If I have elected either the "Interest Only" repayment option or 3. "Deferment End Date" means the date specified below for the applicable loan the "Full Deferral" repayment option (the applicable repayment option is stated on the program (the applicable loan program is stated on the first page of this Credit first page of this Credit Agreement), you may, or, if required by applicable law, will Agreement). send statements during the Deferent Period (showing the total outstanding principal (a) Undergraduate Alternative loan Program If I have elected the "Immediate balance of my loan and the interest that has accrued on my loan). You reserve the Repayment" option (the applicable repayment option is stated on the first page of this right to send statements or notices to either the Borrower or the Cosigner. Statements Credit Agreement), there is no Deferment Period, and my first payment will be 30 -60 will be sent to me at the address shown on your records. If I have elected the "Interest days after the disbursement of my loan. If I have elected the "Interest Only" Only" repayment option, I agree to make payments each month during the Deferment repayment option (the applicable repayment option is stated on the first page of this Period equal to the accrued interest on the outstanding balance of this Credit Credit Agreement), then interest payments will begin 30-60 days after the Agreement. If I have elected the "Full Deferral' repayment option 1 may, but am not disbursement of my loan, the "Deferment End Date" will be the date the student required to make payments during the Deferment Period. You will add any interest that Borrower first graduates or ceases to be enrolled at least half -time in the School (or I do not pay during the Deferment Period to the principal balance, as described in another school participating in this loan program), and principal and interest payments Paragraph D.3. will begin 30 -60 days after that date. In any event, if I have elected the "Interest Only" 2. Repayment Period — The amount of my monthly payment ( "Monthly Payment repayment option, the Deferment End Date will be no more than 5 years after the Amount") will be established based on the rules in this Credit Agreement when my Disbursement Date. If I have elected the "Full Deferral" repayment option (the Repayment Period begins. During the Repayment Period, you will send me monthly applicable repayment option is stated on the first page of this Credit Agreement), then statements that show the Monthly Payment Amount and the payment due dates, and I the "Deferment End Date" will be 180 days after the date the student Borrower first will pay the Monthly Payment Amount shown on my monthly statement, which amount graduates or ceases to be enrolled at least half -time in the School (or another school will in no event be less than $25 or the unpaid balance, whichever is less. I understand participating in this Loan Program). In any event, if I have elected the "Full Deferral' that the Monthly Payment Amount is due each month. I may pay more than my repayment option, the Deferment End Date will be no more than 5% years after the Monthly Payment Amount at any time without penalty or charge. If my loan is in paid - Disbursement Date. For borrowers who chose the "Interest Only" or "Full Deferral' ahead status, I may, but will not be required to make monthly payments. You reserve repayment options, joint and serial (associates to bachelors) degree recipients may the right to send monthly statements to the Borrower and /or the Cosigner. Even it I do continue in- school deferment while completing their second degree, up to the 5 -year or not receive monthly statements, I will make consecutive monthly payments in amounts 5' /z year maximum. at least equal to the Monthly Payment Amount by the applicable payment due dates (b) Graduate Professional Education Loan Program: The Deferment End Date will until I have paid all of the principal and interest and any other charges I may owe be 180 days after the student Borrower graduates or ceases for any other reason to be under this Credit Agreement. enrolled at least half -time in the School (or another school participating in this Loan 3. Repayment Terms -My Monthly Payment Amount will be calculated as of the day Program), but no more than 4% years after the Disbursement Date; provided, the Repayment Period begins ( "Repayment Date "). It will be recalculated (a) once ( WO68-75&r.I ) AB.07- 08.CSX1.10DC1106 2 mfs each year prior to the anniversary of the Repayment Date, (b) if the Variable Rate 3. CREDIT BUREAU REPORTING changes between anniversaries of the Repayment Date to the extent that the Monthly You may report information about my account to credit bureaus. Late Payment Amount would not pay in full the accrued monthly interest on my loan, (c) payments, missed payments, or other defaults in my account may be reflected following any subsequent deferment or forbearance period or (d) following any request in my credit report. by the Borrower to the servicer to change the monthly payment due date (each of which events is a new "Repayment Date "). As of any Repayment Date, my Monthly I understand that the reporting of information about my account to credit bureaus may Payment Amount will be recalculated. My new Monthly Payment Amount will be adversely affect my credit rating and my ability to obtain other credit. You may also disclosed to me by the servicer. The new Monthly Payment Amount will equal the provide the School with certain personally- identifiable information about me (such as amount necessary to pay in full, over the number of months remaining in the my Social Security Number and my Loan ID number) and report the status of my loan Repayment Period, the amount I owe in equal monthly installments of principal and and my payment history, including information about a late payment, missed payment interest at the Variable Rate in effect at the time of the calculation. I understand that or other defaults, to the School and others in accordance with applicable law. this may result in a reduction or increase in my monthly payment as calculated as of L. ADDITIONAL AGREEMENTS: each Repayment Date. I understand that during the Repayment Period (and, if I have 1. 1 understand that you are located in Ohio and that this Credit Agreement will be elected the "Interest Only" repayment option, during the period of interest payments) entered into in the same state. CONSEQUENTLY, THE PROVISIONS OF THIS the servicer may change the monthly payment due date of future payments to a later CREDIT AGREEMENT WILL BE GOVERNED BY FEDERAL LAW AND THE LAWS date for the convenience of the servicer in processing payments or in order to OF THE STATE OF OHIO, WITHOUT REGARD TO CONFLICT OF LAW RULES. coordinate the due dates of all of my loans processed by the servicer. 2. The proceeds of this loan will be used only for my educational expenses at the 4. Amounts Owing at the End of the Repayment Period — Since interest accrues daily School. The Cosigner, if any, will not receive any of the loan proceeds. upon the unpaid principal balance of my loan, if I make payments after my payment 3. My responsibility for paying the loan evidenced by this Credit Agreement is due dates, I may owe additional interest. If I have not paid my late fees, I will also owe unaffected by the liability of any other person to me or by your failure to notify me that additional amounts for those late fees. In such cases you will increase the amount of a required payment has not been made. Without losing any of your rights under this my last monthly payment to the amount necessary to repay my loan in full. Credit Agreement you may accept (a) late payments, (b) partial payments or (c) 5. Payments — Payments will be applied first to late fees, other fees and charges, payments marked "paid in full" or with other restrictions. You may delay, fail to accrued interest, and the remainder to principal. exercise, or waive any of your rights on any occasion without losing your entitlement to 6. Other Charges - If any part of a monthly payment remains unpaid for a period of exercise the right at any future time, or on any future occasion. You will not be more than 15 days after the payment due date, I will pay a late fee not exceeding obligated to make any demand upon me, send me any notice, present this Credit $5.00 or 5% of the overdue payment amount, whichever is less. To the extent Agreement to me for payment or make protest of non - payment to me before suing to permitted by law, I agree to pay you all amounts you incur in enforcing the terms of collect on this Credit Agreement if I am in default, and to the extent permitted by this Credit Agreement, including reasonable collection agency and attomeys' fees and applicable law, I hereby waive any right I might otherwise have to require such actions. court costs and other collection costs. I WILL NOT SEND YOU PAYMENTS MARKED "PAID IN FULL ", "WITHOUT F. LOAN ORIGINATION FEE: If you charge me, I will pay you a Loan Origination RECOURSE" OR WITH OTHER SIMILAR LANGUAGE UNLESS THOSE PAYMENTS Fee at the time my loan is disbursed. The dollar amount of any Loan Origination Fee ARE MARKED FOR SPECIAL HANDLING AND SENT TO THE ADDRESS will be determined by multiplying the Principal Sum times the Loan Origination Fee IDENTIFIED FOR SUCH PAYMENTS ON MY BILLING STATEMENT, OR TO SUCH Percentage shown on the first page of this Credit Agreement. The percentage would OTHER ADDRESS AS I MAY BE GIVEN IN THE FUTURE. be higher if computed only on the amount advanced rather than on the entire Principal 4. 1 may not assign this Credit Agreement or any of its benefits or obligations. You Sum (Loan Origination Fee plus the loan amount advanced). For example, a nominal may assign this Credit Agreement at any time. Loan Origination Fee of 6.5% on the entire principal amount would equal 6.9519% of 5. The terms and conditions set forth in this Credit Agreement and the Disclosure the amount advanced. The Loan Origination Fee I will pay, if any, will be shown on my Statement constitute the entire agreement between you and me. Disclosure Statement and included with the Principal Sum. To the extent permitted by 6. If any provision of this Credit Agreement is held invalid or unenforceable, that law, and unless I timely cancel this Credit Agreement (see Paragraph B.2), I will not be provision shall be considered omitted from this Credit Agreement without affecting the entitled to a refund of any Loan Origination Fee after my loan has been disbursed. validity or enforceability of the remainder of this Credit Agreement. G. RIGHT TO PREPAY: I have the right to prepay all or any part of my loan at any 7. A provision of this Credit Agreement may only be modified if jointly agreed upon in time without penalty. writing by you and me. Any modification will not affect the validity or enforceability of H. FORBEARANCE: If I am unable to repay my loan in accordance with the terms the remainder of this Credit Agreement. established under this Credit Agreement because of a hardship such as financial or 8. To the extent permitted by law, you have the right to apply money from any of my medical difficulty, I may request that you modify these terms. I understand that such deposit account(s) with you to pay all or a portion of any amount overdue under this modification would be at your option, and, to the extent not prohibited by applicable Credit Agreement. I hereby authorize you to obtain from the School all amounts which law, you may charge me a fee equal to two percent 2% of the outstanding principal may be owed to me by the School, including any refund due to overpayment, early balance if you agree to modify the terms of this Credit Agreement. I understand that I termination of enrollment, or otherwise. will remain responsible for all interest accruing during any period of forbearance and 9. If this Credit Agreement is executed by more than one Borrower, each Borrower that you will add any 2% fee described in the previous sentence and all interest that I agrees that any communication between you and any of the Borrowers will be binding do not pay during any forbearance period to the principal balance, as described in on all of the Borrowers. i intend to be treated as a principal of this Credit Agreement Paragraph D.3. and not as a surety. To the extent I may be treated as a surety, I waive all notices to 1. WHOLE LOAN DUE: To the extent permitted by applicable law, I will be in default which I might otherwise be entitled as such by law, and all suretyship defenses that and you have the right to give me notice that the whole outstanding principal balance, might be available to me (including, without limitation, contribution, subrogation and accrued interest, and all other amounts payable to you under the terms of this Credit exoneration). I agree that the Borrower may agree to any forbearance or other Agreement, are due and payable at once (subject to any applicable law which may modification of the repayment schedule and that such agreement will be binding on give me a right to cure my default) if: (1) 1 fail to make any monthly payment to you me. It shall not be necessary for you to resort to or exhaust your remedies against the when due, (2) 1 die, (3) 1 break any of my other promises in this Credit Agreement, (4) borrower before calling upon me to make repayment. For purposes of this paragraph any bankruptcy proceeding is begun by or against me, or I assign any of my assets for only, "I" and "me" refer to the Cosigner only. the benefit of my creditors, or (5) 1 make any false written statement in applying for this 10. All dollar amounts stated in this Credit Agreement are in United States dollars. I loan or any other loan or at any time during the Deferment or Repayment Periods. If I will make all payments in United States Dollars with no deduction for currency default, I will be required to pay interest on this loan accruing after default. The interest exchange. rate after default will be subject to adjustment in the same manner as before default. 11. If the student Borrower fails to complete the education program paid for with this Upon default, you may also capitalize any interest and fees (i.e., add accrued and loan, the Cosigner and I are not relieved of any obligation within or pursuant to this unpaid interest and fees to the principal balance), and increase the Margin used to Credit Agreement. compute the Variable Rate by two percentage points (2 1/6). 12. 1 understand and agree that this loan is an education loan and certify that it J. NOTICES: will be used only for costs of attendance at the School. I acknowledge that the 1. 1 will send written notice to you, any subsequent holder of this Credit Agreement, requested loan is subject to the limitations on dischargeability in bankruptcy and the servicer within ten days after any change in name, address, or enrollment contained in Section 523 (a) (8) of the United States Bankruptcy Code because status (for example, if the Borrower withdraws from the School or transfers to another either or both of the following apply: (a) this loan was made pursuant to a school participating in this loan program). program funded in whole or in part by The Education Resources Institute, Inc. 2. Any notice required to be given to me by you will be effective when mailed by first ( "TERI "), a non - profit institution, or (b) this is a qualified education loan as class mail to the latest address you have for me. Unless required by applicable law, defined in the Internal Revenue Code. This means that if, in the event of you need not give a separate notice to the Cosigner, if any. bankruptcy, my other debts are discharged, I will probably still have to pay this K. INFORMATION: loan in full. 1. 1 must update the information I provided to you whenever you ask me to do so. 13. 1 authorize any school that I may attend to release to you, and any other persons 2. 1 authorize you from time to time to request and receive from others credit related designated by you, any requested information pertinent to this loan (e.g., enrollment information about me (and about my spouse if I live in a community property state). status, prior loan history, and current address). 1wo687594.1}AB.07- 08.CSX1.10DC.1106 3 of 14. [authorize the Lender, any subsequent holder of this Credit Agreement, and their subject to Maryland laws concerning credit, then only to the extent that Maryland law agents to: (1) advise the School of the status of my application and my loan, (2) applies, Lender and I agree and elect that this loan is made under and governed by respond to inquiries from prior or subsequent lenders or holders with respect to my Subtitle 10, Credit Grantor Closed End Credit Provisions, of Title 12 of the Commercial Credit Agreement and related documents, (3) release information and make inquiries Law Article of the Annotated Code of Maryland, except as preempted by federal law. to the persons I have given you as references, for the purposes of learning my current MISSOURI RESIDENTS Oral agreements or commitments to address and telephone number, (4) check my credit and employment history and to answer questions about their credit experience with me, and (5) disclose to TERI, the loan money, extend credit or to forbear from enforcing Borrower, and/or the Cosigner either in connection with this transaction or any future repayment of a debt including promises to extend or renew transaction all information (including status information and non - public personal such debt are not enforceable. To protect me (borrower(s)) and information) of the Borrower and /or the Cosigner provided in connection with this you (creditor) from misunderstanding or disappointment, any Credit Agreement. If in the future I apply for a loan that is guaranteed by TERI and agreements we reach covering such matters are contained in funded by another lender, I also authorize the sharing of application information for this loan (other than information in a consumer report) with the other lender and TERI and this writing, which is the complete and exclusive statement of the reuse of such information by such new lender and TERI in my new application. the agreement between us, except as we may later agree in 15. Waiver by Lender: You waive (give up) any right to claim a security interest in any writing to modify it. property to secure this Credit Agreement. This does not affect any right to offset as a NEVADA RESIDENTS This is a loan for study. matter of law. NEW JERSEY RESIDENTS The section headings of this Credit Agreement are a 16. If I fax my signature(s) on the first page of this Credit Agreement back to you and table of contents and not contract terms. Portions of this Credit Agreement with keep the copy I signed, I understand that under federal law the fax you receive will be references to actions taken to the extent of applicable law apply to acts or practices an original of the first page of this Credit Agreement. You and I agree that all copies of that New Jersey law permits or requires. In this Credit Agreement, acts or practices (i) this Credit Agreement (including the fax you receive and the copy I retain), taken by you which are or may be permitted by "applicable law" are permitted by New Jersey together, shall constitute a single original agreement. law, and (ii) that may or will be taken by you unless prohibited by "applicable law" are 17. If any Borrower or Cosigner elects to sign electronically an electronic record of this permitted by New Jersey law. Credit Agreement, then the following will apply as between Lender and such person: NEW YORK, RHODE ISLAND AND VERMONT RESIDENTS A consumer report (a) Lender will keep a non - modifiable electronic record of this document and provide a (credit report) may be obtained from a consumer- reporting agency (credit bureau) in copy to me upon request, (b) I can and have downloaded and /or printed a copy of this connection with this loan. If I request (1) 1 will be informed whether or not consumer document for my records or notified the Lender to mail me a copy of this document, reports were obtained, and (2) if reports were obtained, I will be informed of the names and (c) the Lender's electronic record of this document and any printout from that and addresses of the credit bureaus that furnished the reports. If you agree to make record shall be an original for all purposes, including any lawsuit to collect amounts this loan to me, a consumer credit report may be requested or used in connection with that I owe. If I physically sign a copy of this document that has been electronically renewals or extensions of any credit for which I have applied, reviewing my loan, signed by any other Cosigner or Borrower, as between me and the Lender the copy I taking collection action on my loan, or legitimate purposes associated with my loan. sign (and any fax of that copy I may send to Lender) will be an original. However, the OHIO RESIDENTS The Ohio laws against discrimination require that all creditors electronic signature of another party to this Credit Agreement and the Lender's make credit equally available to all credit worthy customers, and that credit reporting electronic record of this document containing that signature will be as valid against me agencies maintain separate credit histories on each individual upon request. The Ohio as an original, physical document that is physically signed by all parties. Civil Rights Commission administers compliance with this law. M. DISCLOSURE NOTICES WISCONSIN RESIDENTS For married Wisconsin residents, my signature on this Credit Agreement confirms that this loan obligation is being incurred in the interest of ALL APPLICANTS: my marriage or family. No provision of any marital property agreement (pre - marital IMPORTANT FEDERAL LAW NOTICE— agreement), unilateral statement under Section 766.59 or court decree under Section 766.70 adversely affects the interest of the Lender unless the Lender, prior to the time Important information about procedures for opening a new that the loan is approved, is fumished with a copy of the agreement, statement, or account: decree or has actual knowledge of the adverse provision when the obligation to the To help the government fight the funding of terrorism and money Lender is incurred. If the loan for which I am applying is granted, my spouse will also laundering activities, Federal law requires all financial institutions receive notification that credit has been extended to me, to obtain, verify, and record information that identifies each N. BORROWER'S CERTIFICATION: I declare under penalty of perjury under the person who opens an account laws of the United States of America that the following is true and correct. I certify that all information I provided to you in connection with this loan, including without What this means for you: limitation, the information contained in this Credit Agreement, is true, complete and When you open an account, we will ask for your name, address, correct to the best of my knowledge and belief and is made in good faith. I understand date of birth, and other information that will allow us to identify that I am responsible for repaying immediately any funds that I receive which are not you. We may also ask to see your driver's license or other to be used or are not used for educational expenses related to attendance at the identifying documents. School for the academic period stated. I certify that I am not now in default on a Federal Perkins Loan, a Federal Stafford Loan, a Federally Insured Student Loan, a CALIFORNIA RESIDENTS I have the right to prohibit the use of information contained Federal Supplemental Loan for Students (SLS), a Federal PLUS Loan, an Income in my credit file in connection with transactions not initiated by me. I may exercise this Contingent Loan, a Federal Consolidation Loan, a Federal Ford Direct Loan, or any right b notifying the consumer credit reporting other education loan received for attendance at any school. 9 y 1rfy g p g agency. s married applicant may apply By signing this Credit Agreement t0 the extent permitted by for a separate account. If you take any adverse action as defined by Section 1785.3 of the Califomia Civil Code and the adverse action is based, in whole or in part, on any applicable law. I hereby ratify, confirm and acknowledge the information contained in a consumer credit report, I have the right to obtain within 60 validity of all prior credit agreements I have signed with the days a free copy of my consumer credit report from the consumer reporting agency Lender for this loan program. I intend and agree that all such who furnished you my consumer credit report and from any other consumer credit reporting agency which compiles and maintains files on consumers on a nationwide credit agreements shall be binding on me. The consideration for basis. I have the right as described by Section 1785.16 of the California Civil Code to this affirmation is the new credit extended by the Lender to me dispute the accuracy or completeness of any information in a consumer credit report under this Credit Agreement. furnished by the consumer credit reporting agency. 0. STATE-SPECIFIC COSIGNER NOTICES: For the purposes of the following CALIFORNIA AND UTAH RESIDENTS As required by California and Utah law, I am notices only, the words 'you" and 'your" refer to the Cosigner, where applicable, not to hereby notified that a negative credit report reflecting on my credit record may be the lender. submitted to a credit reporting agency if I fail to fulfill the terms of my credit obligations. IOWA. KANSAS AND NEBRASKA RESIDENTS (For purposes of the following FOR OBLIGORS COSIGNING IN WEST VIRGINIA: notice, the word `you" refers to the Borrower and the Cosigner, not the Lender): NOTICE TO CONSUMER. This is a consumer credit transaction. 1. DO NOT SIGN NOTICE TO COSIGNER THIS CREDIT AGREEMENT BEFORE YOU READ THIS CREDIT AGREEMENT. 2. You are being asked to guarantee this debt. Think Carefully before YOU ARE ENTITLED TO A COPY OF THIS CREDIT AGREEMENT. 3. YOU MAY you do. If the Borrower doesn't pay the debt, you will have to. Be PREPAY THE UNPAID BALANCE AT ANY TIME WITHOUT PENALTY AND MAY BE ENTITLED TO A REFUND OF UNEARNED CHARGES IN ACCORDANCE WITH sure you can afford to pay it if you have to, and that you want to LAW. accept this responsibility. You may have to pay up to the full MARYLAND RESIDENTS In Paragraph LA, Lender and I have agreed that this Credit amount of the debt if the Borrower does not pay. You may also Agreement is governed by federal law and the laws of OHIO, without regard to conflict have to pay late fees or collection costs, which increase this of laws rules; if any court should nevertheless determine that this Credit Agreement is (wo6s7 sa4.1)AB.07 08.CSX1.10DC.1106 4 of5 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 a part of your credit record. This notice is not the contract that makes you liable for the debt. FOR OBLIGORS COSIGNING IN VERMONT NOTICE TO COSIGNER YOUR SIGNATURE ON THIS CREDIT AGREEMENT MEANS THAT YOU ARE EQUALLY LIABLE FOR REPAYMENT OF THIS LOAN. IF THE BORROWER DOES NOT PAY, THE LENDER HAS A LEGAL RIGHT TO COLLECT FROM YOU. M 06875U.I,AB.07- 08.CSX1.IODC.1106 5 of5 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 Ingles Se Requiere 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 holder of the loan 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 RADOR (Spanish Translation Required by Law) Se le estd pidiendo que garantice esta deuda. Pidnselo con cuidado antes de ponerse de acuerdo. Si la persona que ha pedido este prestamo no paga la deuda, usted tendril que pagarla. Este seguro de que usted podrd pagar si sea obligado a pagarla y de que usted desea aceptar la responsabilidad. Si ]a persona que ha pedido el prestamo no paga la deuda, es posible que usted tenga que pagar la suma total de la deuda, mas Ins 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 cone, quitar parte de su sueldo, etc. Si alguna vez no se cumpla con la obligacion de pagar esta deuda, se puede incluir esa informacion en la historia de credito de usted. Este aviso no es el contrato mismo en que se le echa a usted la responsibilidad de ]a deuda. AB.07- 08.CSX1.10DC.1106.FD {W0687584.1) Notice to Cosigner SUPPLEMENT TO LOAN REQUESTICREDIT AGREEMENT for COLORADO, 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) Private Education Loan W ill 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 Colorado, 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. AB.07- 08.CSX1.10DC.1106.MS {wo687584.1} EXHIBIT B Unassociated Document Page 1 of 6 EX -99.31 27 d720160.htm POOL SUPPLEMENT (CHARTER ONE BANK, N.A.) EXHIBIT 99.31 POOL SUPPLEMENT RBS CITIZENS, N.A. (SUCCESSOR TO CHARTER ONE BANK, N.A.) This Pool Supplement (the " Supplement ") is entered into pursuant to and forms a part of each of the Note Purchase Agreements (the " Agreements ") set forth on Schedule 1 attached hereto, each as amended or supplemented from the date of execution of the Agreement through the date of this Supplement, by and between The First Marblehead Corporation and RBS Citizens N.A., successor by merger to Charter One Bank, N.A. (the " Program Lender This Supplement is dated as of September 20, 2047. Capitalized terms used in this Supplement without definitions have the meanings set forth in the Agreements. _ 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 Agreements (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 2 (the " Transferred Loans ") along with. all of the Program Lender's rights under the Guaranty j Agreement, and any agreement pursuant to which TERI granted collateral for its obligations under the Guaranty Agreement, relating to the Transferred Loans. The Depositor in turn will sell the Transferred Loans to a Purchaser Trust. The Program Lender hereby transfers and delivers to the Depositor each Note evidencing such Transferred Loan and all Origination. Records relating thereto, together with any additional information relating to the Transferred Loans heretofore provided by TERI. (as origination agent) to the Servicer or FMC in connection with the subject Securitization Transaction. 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 2.04 of the Agreements. 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 Agreements for the benefit of each of the Depositor and the Purchaser Trust and confirms the same are true and correct as of the date hereof with respect to the Agreements 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: I (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 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 Loans. 7 (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 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. http: / /www.sec.gov/ Archives /edgar/ data / 1223029 /000088237707002305/d720160.htm 12/28/2011 Unassocjated Document Page 2 of 6 (d) This Supplement, together with the Agreements 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 Agreements and this Supplement and the fulfillment of the terms 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 Agreements or this Supplement, (ii) seeking to prevent the consummation of any of the transactions contemplated. by the Agreements or this Supplement, or (iii) seeking any determination or ruling that is Iikely to materially or adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of I the Agreements 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 Loans included in the Pool. i I L. I I i http: / /www.see.gov /Archives /edgar/ data / 1223029 /000088237707002305/d720160.htm 12/28/2011 Unassociated Document Page 3 of 6 r i Article 5: Assignment of Origination. 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 Agreements, the Origination Agreements and the Servicing Agreements to the extent the same relate to the Transferred Loans described in Schedule 2 , 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 loans purchased hereunder in order to permit the Depositor to assert such claims directly and obviate any need 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 any collateral pledged by TERI to the Program Lender to secure its obligations under the Guaranty Agreement that relates to the Transferred Loans, and Program Lender hereby releases any security interest it may have in such collateral 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] i is i I I i i I i i I i http: / /www. sec.gov/ Archives /edgar/ data / 1223029 /000088237707002305/d720160.htm 12/28/2011 Unassociated Document Page 4 of 6 3 IN WITNESS WHEREOF, the parties have caused. this Supplement to be executed as of the date set forth above. i THE FIRST MARBLEHEAD CORPORATION By: /s/ John A. Foxgrover f John A. Foxgrover Senior Vice President RBS CITIZENS, N.A., successor by merger to j CHARTER ONE BANK, N.A. By: /s/ Dino DiMascio Name:Diuno DiMascio Title: Vice President i I THE NATIONAL COLLEGIATE FUNDING LLC f i By: GATE Holdings, Inc., Member By: /s/ John A. Foxgrover John A. Foxgrover Vice President } i I i i j I http: / /www.see.gov/ Archives /edgar/ data / 1223029 /000088237707002305/d72016O.htm 12/28/2011 Unassociated Document Page 5 of 6 Schedule Note Purchase Agreements Each of the Note Purchase Agreements, as amended or supplemented, entered into by and between The First Marblehead Corporation and: • Charter One Bank, N.A., dated as of December 29, 2003 for loans that were originated under Charter One's AAA Southern New England Bank Loan Program. i • Charter One Bank, N.A., dated October 31, 2003, for loans that were originated under Charter One's AES Educati.onGAINT Loan Program. • Charter One Bank, N.A., dated June 30 2003, for loans that were originated under Charter One's Citibank Education Assistance Loan Program.. • Charter One Bank, N.A., dated July 1, 2002, for loans that were originated under Charter One's College Loan Corporation. Loan Program. • Charter One Bank, N.A., dated May 10, 2004 for loans that were originated under Charter One's EdFinancial Loan Program. • Charter One Bank, N.A. dated September 15, 2003, for loans that were originated under Charter One's Extra Credit II Loan Program (North Texas Higher Education). • Charter One Bank, N.A., dated September 20, 2003, for loans that were originated under Charter One's M &I Alternative Loan Program. • Charter One Bank, N.A., dated November 17, 2003 for loans that were originated under Charter One's National Education Loan Program. • Charter One Bank, N.A., dated May 15, 2002, for loans that were originated under Charter One's NextStudent Alternative Loan Program. I • Charter One Bank, N.A., dated March 25, 2004, for loans that were originated under Charter One's Astrive and AstriveAlliance Education (f/k/a START) Loan Programs. ; • Charter One Bank, N.A., dated February 15, 2005, for loans that were originated under Charter One's Referral Loan Program (including loans in the Charter One Bank Alternative Loan Program, E -Loan Private Loan Program, UPromise Alternative Loan Program, Collegiate Solutions Alternative Loan Program, College Board Alternative Loan Program, Axiom Alternative Loan Program, American Student Loan Services Private Loan Program, nBuy Private Loan Program and ThinkFinancial. Alternative Loan Program). i i i i http: / /www.sec.gov /Archives /edgar/ data / 1223029 /000088237707002305/d720160.htn 12/28/2011 Ronny R Anderson Sheriff Jody S Smith Chief Deputy Richard W Stewart Solicitor SHERIFF'S OFFICE OF CUMBERLAND COUNTY �� O �\�� r� ~'' �T�Q\ TAO�8,. ��� OF THE � w�*m� ,r ` ' 111 n. m2 ^- .`^'�v m/^ CUMBERLAND COUNTY National Collegiate Student Loan Trust 2007-4 vs. Rebecca Wunders (et al.) Case Number 2014-2103 SHERIFF'S RETURN OF SERVICE 04/11/2014 03:20 PM - Deputy Ryan Burgett, being duly sworn according to law, served the requested Complaint & Notice by "personally" handing a true copy to a person representing themselves to be the Defendant, to wit: Ryan Mitsui at 813 Highland Court, Silver Spring, Mechanicsubrg, PA 17050. RYAN BURGETT, DEP TY 04/11C2014 03:20 PM - Deputy Ryan Burgett, being duly sworn according to law, served the requested Complaint & Notice by handing a true copy to a person representing themselves to be Ryan Mitsui, boyfriend, who accepted as "Adult Person in Charge" for Rebecca Wunders at 813 Highland Court, Silver Spring, Mechanicsburg, PA 17050. RYAN BURGETT, DE Y SHERIFF COST: $55.30 SO ANSWERS, April 15, 2014 f.c)CounnySti:te. RONNYR ANDERSON, SHERIFF