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HomeMy WebLinkAbout14-6161 Supreme Coll' ennsylvania Coll u0 Com mo r leas For Prothonotary Use Only: e<�il Cn�i�>r�Sh+ et COUII Docket No: County )q, The information collected on this form is used solely foi-court administration pufposes. 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: S n Complaint ® Writ of Summons ® Petition Transfer from Another Jurisdiction 0 Declaration of Taking E C Lead Plaintiff's Name: Lead Defendant's Name: National Collegiate Student Loan Trust (��-- 'i c— T Dollar Amount Requested: ithin arbitration limits I Are money damages requested? Yes No (check one) Doutside arbitration limits Q N Is this a Class Action Suit? El Yes El No Is this an MDJAppeal? 0 Yes 0 No .A, Name of Plaintiff/Appellant's Attorney: ® Check here if you have no attorney(are a Self-Represented (Pro Sed 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.ludgments) CIVIL APPEALS ® Intentional ( Buyer Plaintiff Administrative Agencies El Malicious Prosecution Debt Collection:Credit Card Q Board of Assessment 0 Motor Vehicle Q Debt Collection:Other Q Board of Elections Nuisance Student Loan Dept.of Transportation Q Premises Liability [3 Statutory Appeal:Other S Product Liability(does not include E mass tort) Q Employment Dispute: ® Slander/Libel/Defamation Discrimination C Other: Employment Dispute:Other M Zoning Board T ® Other: i I ® Other: o . MASS TORT ® Asbestos N ® Tobacco [:] Toxic Tort-DES Q Toxic Tort-Implant REAL PROPERTY MISCELLANEOUS ® Toxic Waste Other: '®Ejectment El Common Law/Statutory Arbitration B ®Eminent Domain/Condemnation [3 Declaratory Judgment ® Ground Rent [3 Mandamus Landlord/Tenant Dispute [3 Non-Domestic Relations ® Mortgage Foreclosure:Residential Restraining Order PROFESSIONAL LIABLITY © Mortgage Foreclosure:Commercial E3 Quo Warranto Dental ®Partition 13 Replevin ® Legal ®Quiet Title Other: ® Medical Other: M Other Professional: Updated 1/1/2011 oF IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA01 C 200 NATIONAL COLLEGIATE STUDENT C U N o E i t - LOAN TRUST 2007-1 C17VIL ACTION t c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd Norcross, GA 30071 Plaintiff VS. No: � v� JEREMY SCHULTZ 48 S EAST ST CARLISLE PA 17013-2513 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 717-243-9400 ( D ' OJ4 fis 7S Ct N1400892 x IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA 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: JEREMY SCHULTZ 48 S EAST ST CARLISLE PA 17013-2513 Defendant COMPLAINT Plaintiff,NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1, by and through its attorneys, Edwin A. Abrahamsen&Associates, P.C., complains of the Defendant as follows: 1. The defendant JEREMY SCHULTZ (hereinafter "Defendant") is an adult individual residing at 48 S EAST ST CARLISLE PA 17013-2513. 2. The defendant executed the promissory note for the payment of tuition in which the defendant was required to make monthly payments. A copy of the promissory note, is attached hereto as Exhibit "A." 3. The defendant's account was transferred and assigned by the original lender to the plaintiff. (See "Pool Supplement and Deposit and Sales Agreement" attached hereto as Exhibit "B" demonstrating the chain of title for this account) 4. The defendant was advanced the proceeds of the loan which were to be used for educational purposes. 5. The defendant failed to make the required payments when due. 6. The balance currently owed by defendant is $24,620.29. 7. Plaintiff has declared Defendant to be in default and demands payment of the balance due from the Note. WHEREFORE, Plaintiff requests judgment in its favor and against Defendant in the amount of$24,620.29 plus costs of suit and any other relief as the Court deems just and appropriate. Resp ful y su m' ed Michael . Ratchford squire Attorney I.D. Nos.: 8t5 120 N. Keyser Ave Scranton, PA 18504 mratchford@eaa-law.com Phone: 800-503-1665 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. AMic%aellf. atchford, squire EXHIBIT A NOTE DISCLOSURE STA TEMENT $ 14,525.194 5�271Borrower(s) JEREMY SCHULTZ fkf Loan No, Student: JEREMY SCHULTZ Date: November 29.2006 JEREMY SCHULTZ Lender Name aad Address: 338 HUMMEL AVE CHARIER GNP,R LEMOYNE, PA 17043 USA 725 CANTON STREET NORWOOD MA 02062 This disclosure statement relates to your Loan Note disbursed on November 29,2006 Ilmmsc your Lam is elther being disbursed or entering repaymem,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 Taal of payments The cost of your credit as a The dollar amount the credit Me amount of cradii Provided The amaaat you wil I have paid after Yearly— will cast you, to you or on your behalf. you have made all payments scheduled. 12.279 % S 31,500.80_ $ 13,000.001 E 44,500,90 Your payment schedule will be: Number of Payments Amount of Payments When Payments are due 240 S 165.42 On the 20th day of each month beginning 12/2008 VARIABLE RATE:The Annual Percentage Rate,which is based on an index plus a margin,may increase during the term of the loan if the index rate increases.no index is(check one): Prime Rate Index Adjusted Monthly.The highest U.S.bank prime two published in the"Money Rates"section of Thu Wall Street l0umai fEtsem Edition on the last business day of each calendar month. Prime Rate Index Adjusted Quarterly-The highest U.S.bank prime rate published in the"Money Rates"section of The Wall Street 10umal f As ern Editionl 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 Wall Street Journal ffmarn>;dit o on the first business day of each of the three(3) calendar months immediately preceding The first day of each calendar quarter, �k LIBOR Index Adjusted Monthly-The one-month London Interbank Offered Rate published in the"Money Rales" section of The Wall Street loum;I fEagem FAitionl on the first business day of the preceding calendar month. Arty increase in the index and the Annual Percentage Rate which occurs while principal payments are deferred will increase the amount of any current and all future payments.Any increase in the index and the Annual Percentage Rate which occurs while principal and interest payments are 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 loan will increase the amount of your future principal and interest payments beginning with your next mutual payment adjustment date.For example, assume you obtain a loan in your junirw 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 term of the loan is 20 years.If the interest rule increased to 12% rut January Irl 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 55.00 or 5%of the payment,whichever is less,If you default,lender(or any subsequent bolder of your Loan Nose)may inaease the margin used to compute the Annual Percentage Rale by two percentage points(2%), PREPAYMENT:If you pay oRearly,you will not have to pay a penalty. Eatimateir All numerical disclosures except the late payment disclosure are estimates, See your contract documents for tiny additional information about non-paymcm,default,any required repayment in full before the scheduled date,any security interest and prepayment refunds and penalties. Principal Amount of Note(Amount Financed plus Prepaid France Charge) $ 14 525.14 itemization of Amount Finowad Amountpaid to JEREMY SCHULTZ S 13,000,00 Amount paid to $ Tafel Amoum Financed f 13,000.00 Itemization of Prepaid Finance Clarge Origination Fre S 1525.14 ToW Prepaid France Charge(&) $ 1-525.14 saestwWtrrse 23 AVJUDP Astrive Education Loan Fde Copy From:717 5451129 Page:3(3 Date:11f22/2006 0:49:45 AM ♦ ftdmw* Left NOMONGOTN KE CREOn AGREMOff—TM*ACONSLNA RC=ff 7RANSACIM MOM&Tvgpjm Astfte E*wMan Lm --—Y-- A Mffdo ftk*Der OM12MM Lender Charter One Bank NA Sdml:PENNSYLVANIA SPATE UNNERSI iY ILoan Amount Requested:$23000.00 Repayment Option:Fun DehmW DeTie► l Period Margin:5.65 Repayment PBtlod Margin SAS Loan OtighV6on Fee I°1 e:10.60 Borrower Name:Jararm s l...t Home Address:338 HwmrtW Ave Lemoynes.PA 17045 =K* D(SY8TBA5 L!C Date of Birth: TEmWwT�rrow:uw 140'6 877-7477 CunWcwmnuPoeliore OlAoaI* y"MThere:9 Yen$A pit � it Ymm A Pneriooc F.mp v)mnt 2 Yews 1 Ma*a AUmM.CAW stmpe4 or=POOR eabmaeeaeees do eee fave bo bs+t•wsrad 11 Fw%l tvm* t m amm& ed for tomb aft osegysfiam ff you santyMlgean aaarie safdlioeal piavae pewbdsQelslle orr s tasynefa s ucd pansy Slsdetd(�lmenNirp(dock ovv� N t1,fl.Cl�men D d�Ytb IdonC�en(Atboh lrnnt b bade oapy aIC15 or ed�snt tars amN ftw,ladRepKanceHurdi HOMOTaca*, 901.M6 VYRkTWA- ftehrW=StWAd*Ww dA RafteRPe aF a➢aiposlmgl eatlfyftr+tx!Iitre aad,atdnamd esd too tpQ,e teYmaaradoo�4ipd�ltioss ertfoetYm d foor(4)pgpsdlf�leoefhgsa�t A4ea�p¢ABA6-0�CAWO�L®C.�D6�eQh Ilgrm+�"�. I®dead dod abr peoca stfin laowia�r mdres t 6die I�mt or miafrm as Ods fimt a fD pmdtic4,tde�sexy is�d1 AGH R imprse®ea. Tbisixsd3i Apmoamtl d4 uses«oder asd, [ssdaspoe Aur I am ta�te�d m Qnt ttQ fi�itlEOodfO�Id01�fAii�Qd1�4ASOmQ�de�Rfl�OOlt��tO(�f{OC ILI�RIiOm�CIIQDOSdf14/rpt�OmdQ�' dt Qv tApe=eat mod=W edWd eW=Qret emlift icubt I Mot G)my Roca do"* is to 60 se da ftft l4pow sofa"*Dumb bdod *M Baste ha,(*aw fn FWa t R pert otLa d es dtevonio amid of Cx&ApeemoR Bead ub dnoticss to be as esi W dem(p)i 4 e=&u bcedoess rob the by edeesoaofo odooedi sae epectmsc e({sesmpC ala(a)sua m6 Cadit ApRsuav rm not br�asod by Aakb 3 d mo UAift m CnmmcidCadr amdoyabgfmmwdwdoC RAgmmmavMzwbtw Mita Eur+Otraafard�rob�pdnesw�lbssdtdsdeo,A�de9aSttiotlmfsm Ik Cods. Fbr�Iblioneler>,odae`"�'stens ltrs,�}ta Ydlfff�a FMALA8AAIAR SWERMC,AKMW—fTfey8CF0KrAN2 fiifATY+[!;IT80*0UGBLY WZWIWCaNMA=5W0=YOU SIGN IT. FO$VEOMIM M-TIOTXZ70CWTOMO; (a) DQE AGMZCNWr YaQi AO'1>BN;N�RI1'SQGIDX2=t0LLlVW=CPAr,'3.xYMUr ADVnM (b) D NOTIW TMX CRiNKI AGMlRf NT W IT OONT'ADW ANY KANRSPAM (c) YOUAVXWffMZDTDArtW=CWFOCANYAGRRIMMYOU SM (d) YOU RAVfL 7M MUM AT ANfYTO?'AY!N ANVANCA T1W MAM BAkdNCt XMM TM8 CI(LDW AGf>d) MMgr AND YOU MAY Ufsrftl"TOAitAR'D"f ERUIDOF7WOWN=CHARO . f Sklahn of BWMW- AJ' . ry ry _ 1 q In this Credit Agreement,the words"I","me","my",and"mine"mean the person who the Deferment Period will end 180 days after the day the residency or internship ends, signed this Credit Agreement as Borrower.The words`you","your","yours",and but no more than 8%years after the Disbursement Date. "Lender"mean Charter One Bank,N.A.,its successors and assigns,and any other 4.The"Repayment Period"begins the day after the Deferment Period ends.If there is holder of this Credit Agreement."School"means the school named at the top of the no Deferent Period for my loan,the Repayment Period will begin when my loan is first page of this Credit Agreement. The"servicer"means the Lender or any entity it fully disbursed.The Repayment Period is 20 years unless monthly payments equal to designates to service my loan. the minimum monthly payment amount(See Paragraph E.2)will repay all amounts A. PROMISE TO PAY: I promise to pay to you the principal sum of the Loan Amount owed in less than 20 years,in which case the Repayment Period will be the number of Requested shown on the first page of this Credit Agreement,to the extent it is months necessary to pay in full the amount I owe at the minimum payment. advanced to me or paid on my behalf,and any Loan Origination Fee added to my loan D. INTEREST: (see Paragraph F)(together,the"Principal Sum"),interest on such Principal Sum, 1. Accrual-Beginning on the Disbursement Date,interest will be calculated at the interest on any unpaid interest added to the Principal Sum and late fees(see Variable Rate(Paragraph D.2)and charged on the Principal Sum,and on any unpaid Paragraph E.6). interest later added to the Principal Sum according to Paragraph D.3.During the B. IMPORTANT-READ THIS CAREFULLY: Repayment Period,interest will be calculated at the Variable Rate and charged on the 1. When you receive my signed Credit Agreement,you are not agreeing to lend me outstanding balance of this Credit Agreement until all amounts are paid in full.Interest money.If you decide to make a loan to me,you will electronically transfer the loan will be calculated on a daily simple interest basis. The daily interest rate will be equal funds to the School for me,mail a loan check to the School for me,or mail a loan to the annual interest rate in effect on that day,divided by the number of days in that check directly to me.You have the right to not make a loan or to lend an amount less calendar year. than the Loan Amount Requested. I agree to accept an amount less than the Loan 2. Variable Rate-The"Variable Rate"is equal to the Current Index plus a Margin. Amount Requested and to repay that portion of the Loan Amount Requested that you The Margins for both the Deferent Period and the Repayment Period are shown on actually lend to me along with interest and all other amounts I owe(see Paragraph A). the first page of this Credit Agreement.In no event will the Variable Rate exceed the You have the right to disburse my loan through an agent.At your option,you may also maximum interest rate allowed by the laws of the State of Ohio.The Variable Rate will make any loan check co-payable to me and the School. change monthly on the first day of each calendar month(the"Change Date(s)")if the 2. HOW 1 AGREE TO THE TERMS OF THIS LOAN. By signing this Credit Current Index changes. The"Current Index"for any calendar month(or for any shorter Agreement,and submitting it to the Lender,I am requesting that you make this loan to period beginning on the Disbursement Date and ending on the last day of a calendar me in an amount equal to the Loan Amount Requested plus any Loan Origination Fee month)is based on the one-month London Interbank Offered Rate("LIBOR")as described in Paragraph F of this Credit Agreement. If you approve this request and published in the"Money Rates"section of The Wall Street Journal(Eastern Edition). agree to make this loan,you will notify me in writing and provide me with a Disclosure The index for each calendar month(or for any shorter period beginning on a Statement,as required by law,at the time the loan proceeds are disbursed.The Disbursement Date and ending on the last day of a calendar month)will equal the Disclosure Statement is incorporated herein by reference and made a part hereof. LIBOR rate published on the first business day of the immediately preceding calendar The Disclosure Statement will tell me the amount of the loan which you have month,rounded to the nearest one-hundredth of one percent(0.010/6). If The Wall approved,the amount of the Loan Origination Fee,and other important information. I Street Journal(Eastern Edition)is not published or the Current Index is not given on will let you know that I agree to the terms of the loan as set forth in this Credit that date,then the Current Index will be determined by using the immediately Agreement and in the Disclosure Statement by doing either of the following: preceding published Current Index.If the Current Index is no longer available,you will (a)endorsing or depositing the check that disburses the loan proceeds;or(b)using choose a comparable index. the loan proceeds or allowing the loan proceeds to be used on my behalf without 3. Capitalization—If I have elected the"Full Deferral"repayment option(the objection.Upon receipt of the Disclosure Statement,I will review the Disclosure applicable repayment option is stated on the first page of this Credit Agreement),I am Statement and notify you in writing if I have any questions. If I am not satisfied with not obligated to make any payments until the loan enters the Repayment Period and the terms of my loan as disclosed in the Disclosure Statement,I may cancel my loan. you will add unpaid accrued interest to the principal loan balance as of the last day of To cancel my loan,I will give you a written cancellation notice within ten(10)days after each calendar quarter(the last day of December,March,June and September)during I receive the Disclosure Statement. If loan proceeds have been disbursed,I agree that the Deferent Period and as of the last day of my Deferent Period.Interest that is I will immediately return the loan proceeds to you,will not endorse any check which added to principal is called"Capitalized"interest.Capitalized interest will be treated as disburses the loan proceeds and will instruct the School to return any loan proceeds to principal.In addition,if I am in default(see Paragraph 1)and the loan has been sold to you. If I give notice of cancellation but do not comply with the requirements of this TERI(see Paragraph LA 1),TERI may capitalize accrued and unpaid interest as of the Paragraph B.2,this Credit Agreementwill not be canceled and I will be in default of date it purchases my loan.I understand that you will also add all accrued and unpaid this Credit Agreement. (See Paragraph I.) C. DEFINITIONS: interest to the principal balance of my loan at the end of any forbearance period(see Paragraph H). In all rases,the sum of interest you capitalize plus the then- 1. "Disbursement Date"means the date or dates on which you lend money to me in outstanding principal balance is thereafter considered the principal balance,and consideration for my Credit Agreement and will be the date(s)shown on any loan interest will accrue on the new principal balance. check you prepare or the date(s)you initiate any electronic funds transfer. E. TERMS OF REPAYMENT: 2.The"Deferent Period"will begin on the Disbursement Date and end on the 1. Deferent Period- If I have elected either the"Interest Only"repayment option or Deferent End Date. the"Full Deferral"repayment option(the applicable repayment option is stated on the 3."Deferent End Date"means the date specked below for the applicable loan first page of this Credit Agreement),you will send me statements during the Deferent program(the applicable loan program is stated on the first page of this Credit Period(showing the total outstanding Agreement). ( 9 g principal balance of my loan and the interest that (a) Agreement). to Alternative Loan Program: If I have elected the"Immediate has accrued on my loan). Statements will be sent to the address shown on your Re a ment"o tion(thea licable re a e rst a e of this records. If I have elected the"Interest Only"repayment option,I agree to make p y p pp ment otion is stated on thfi p y p page payments each month during the Deferent Period equal to the accrued interest on Credit Agreement),there is no Deferent Period,and my first payment will be 30-60 the outstanding balance of this Credit Agreement. If I have elected the"Full Deferral" days after the disbursement of my loan. If I have elected the"Interest Only" repayment option I may,but am not required to make payments during the Deferent repayment option(the applicable repayment option is stated on the first page of this Period.You will add any interest that I do not pay during the Deferent Period to the Credit Agreement),then interest payments will begin 30-60 days after the principal balance,as described in Paragraph D.3. disbursement of my loan,the"Deferent End Date"will be the date the Student first 2. Repayment Period-The amount of my monthly payment("Monthly Payment graduates or ceases to be enrolled at least half-time in the School(or another school Amount")will be established based on the rules in this Credit Agreement when my participating in this loan program,and principal and interest payments will begin 30-60 Repayment Period begins. During the Repayment Period,you will send me monthly days after that date.In any event,if I have elected the"Interest Only repayment statements that show the Monthly Payment Amount and the payment due dates,and I option,the Deferent End Date will be no more than 5 years after the Disbursement will pay the Monthly Payment Amount shown on my monthly statement,which amount Date.If I have elected the"Full Deferral"repayment option(the applicable repayment will in no event be less than$25 or the unpaid balance,whichever is less.I understand option is stated on the first page of this Credit Agreement),then the"Deferent End that the Monthly Payment Amount is due each month.I may pay more than my Date"will be 180 days after the date the Student first graduates or ceases to be Monthly Payment Amount at any time without penalty or charge. If my loan is in paid- enrolled at least half-time in the School(or another school participating in this Loan ahead status,I may,but will not be required to make monthly payments.Even if I do Program).In any event,if I have elected the"Full Deferral"repayment option,the not receive monthly statements,I will make consecutive monthly payments in amounts Deferent End Date will be no more than 5'%years after the Disbursement Date. For at least equal to the Monthly Payment Amount by the applicable payment due dates borrowers who chose the"Interest Only or"Full Deferral"repayment options,joint and until I have paid all of the principal and interest and any other charges I may owe serial(associates to bachelors)degree recipients may continue in-school deferent under this Credit Agreement. while completing their second degree,up to the 5-year or 5 Yr year maximum. 3. Repayment Terms-My Monthly Payment Amount will be calculated as of the day (b)Graduate Professional Education Loan Program:The Deferent End Date will the Repayment Period begins("Repayment Date").It will be recalculated(a)once be 180 days after the Student graduates or ceases for any other reason to be enrolled each year prior to the anniversary of the Repayment Date,(b)if the Variable Rate at least half-time in the School(or another school participating in this Loan Program), changes between anniversaries of the Repayment Date to the extent that the Monthly but no more than 4'%years after the Disbursement Date;provided,however,that if the Payment Amount would not pay in full the accrued monthly interest on my loan,(c) Student begins a medical residency or internship during the Deferent Period,then following any subsequent deferent or forbearance period or(d)following any request M04"7%.nAB.06-07.CRWO.IODC.0206 2 of by the Borrower to the servicer to change the monthly payment due date(each of I understand that the reporting of information about my account to credit bureaus may which events is a new"Repayment Date").As of any Repayment Date,my Monthly adversely affect my credit rating and my ability to obtain other credit.You may also Payment Amount will be recalculated.My new Monthly Payment Amount will be provide the School with certain personally-identifiable information about me(such as disclosed to me by the servicer.The new Monthly Payment Amount will equal the my Social Security Number and my Loan ID number)and report the status of my loan amount necessary to pay in full,over the number of months remaining in the and my payment history,including information about a late payment,missed payment Repayment Period,the amount I owe in equal monthly installments of principal and or other defaults,to the School and others in accordance with applicable law. interest at the Variable Rate in effect at the time of the calculation.I understand that L. ADDITIONAL AGREEMENTS: this may result in a reduction or increase in my monthly payment as calculated as of 1. 1 understand that you are located in Ohio and that this Credit Agreement will be each Repayment Date. I understand that during the Repayment Period(and,if I have entered into in the same state.CONSEQUENTLY,THE PROVISIONS OF THIS elected the"Interest Only"repayment option,during the period of interest payments) CREDIT AGREEMENT WILL BE GOVERNED BY FEDERAL LAW AND THE LAWS the servicer may change the monthly payment due date of future payments to a later OF THE STATE OF OHIO,WITHOUT REGARD TO CONFLICT OF LAW RULES. date for the convenience of the servicer in processing payments or in order to 2.The proceeds of this loan will be used only for my educational expenses at the coordinate the due dates of all of my loans processed by the servicer. School. 4. Amounts Owing at the End of the Repayment Period—Since interest accrues daily 3. My responsibility for paying the loan evidenced by this Credit Agreement is upon the unpaid principal balance of my loan,if I make payments after my payment unaffected by the liability of any other person to me or by your failure to notify me that due dates,I may owe additional interest. If I have not paid my late fees,I will also owe a required payment has not been made.Without losing any of your rights under this additional amounts for those late fees.In such cases you will increase the amount of Credit Agreement you may accept(a)late payments,(b)partial payments or(c) my last monthly payment to the amount necessary to repay my loan in full. payments marked"paid in full"or with other restrictions.You may delay,fail to 5. Payments—Payments will be applied first to late fees,other fees and charges, exercise,or waive any of your rights on any occasion without losing your entitlement to accrued interest,and the remainder to principal. exercise the right at any future time,or on any future occasion.You will not be 6. Other Charges-If any part of a monthly payment remains unpaid for a period of obligated to make any demand upon me,send me any notice,present this Credit more than 15 days after the payment due date,I will pay a late fee not exceeding Agreement to me for payment or make protest of non-payment to me before suing to $5.00 or 5%of the overdue payment amount,whichever is less.To the extent collect on this Credit Agreement if I am in default,and to the extent permitted by permitted by law,I agree to pay you all amounts you incur in enforcing the terms of applicable law,I hereby waive any right I might otherwise have to require such actions. this Credit Agreement,including reasonable collection agency and attorneys'fees and I WILL NOT SEND YOU PAYMENTS MARKED"PAID IN FULL","WITHOUT court costs and other collection costs. RECOURSE"OR WITH OTHER SIMILAR LANGUAGE UNLESS THOSE PAYMENTS F. LOAN ORIGINATION FEE: If you charge me,I will pay you a Loan Origination ARE MARKED FOR SPECIAL HANDLING AND SENT TO THE ADDRESS Fee at the time my loan is disbursed. The dollar amount of any Loan Origination Fee IDENTIFIED FOR SUCH PAYMENTS ON MY BILLING STATEMENT,OR TO SUCH will be determined by multiplying the Principal Sum times the Loan Origination Fee OTHER ADDRESS AS I MAY BE GIVEN IN THE FUTURE. Percentage shown on the first page of this Credit Agreement. The percentage would 4. 1 may not assign this Credit Agreement or any of its benefits or obligations.You be higher if computed only on the amount advanced rather than on the entire Principal may assign this Credit Agreement at any time. Sum(Loan Origination Fee plus the loan amount advanced). For example,a nominal 5.The terms and conditions set forth in this Credit Agreement and the Disclosure Loan Origination Fee of 6.5%on the entire principal amount would equal 6.9519%of Statement constitute the entire agreement between you and me. the amount advanced. The Loan Origination Fee I will pay,if any,will be shown on my 6. If any provision of this Credit Agreement is held invalid or unenforceable,that Disclosure Statement and included with the Principal Sum. To the extent permitted by provision shall be considered omitted from this Credit Agreement without affecting the law,and unless I timely cancel this Credit Agreement(see Paragraph B.2),I will not be validity or enforceability of the remainder of this Credit Agreement. entitled to a refund of any Loan Origination Fee after my loan has been disbursed. 7. A provision of this Credit Agreement may only be modified if jointly agreed upon in G. RIGHT TO PREPAY: I have the right to prepay all or any part of my loan at any writing by you and me.Any modification will not affect the validity or enforceability of time without penalty. the remainder of this Credit Agreement. H. FORBEARANCE: If I am unable to repay my loan in accordance with the terms 8.To the extent permitted by law,you have the right to apply money from any of my established under this Credit Agreement because of a hardship such as financial or deposit account(s)with you to pay all or a portion of any amount overdue under this medical difficulty,I may request that you modify these terms.I understand that such Credit Agreement. I hereby authorize you to obtain from the School all amounts which modification would be at your option,and,to the extent not prohibited by applicable may be owed to me by the School,including any refund due to overpayment,early law,you may charge me a fee equal to two percent 2%of the outstanding principal termination of enrollment,or otherwise. balance if you agree to modify the terms of this Credit Agreement.I understand that 1 9. All dollar amounts stated in this Credit Agreement are in United States dollars. I will will remain responsible for all interest accruing during any period of forbearance and make all payments in United States Dollars with no deduction for currency exchange. that you will add any 2%fee described in the previous sentence and all interest that 1 10. If I fail to complete the education program paid for with this loan,I am not relieved do not pay during any forbearance period to the principal balance,as described in of any obligation within or pursuant to this Credit Agreement. Paragraph D.3. 11. 1 understand and agree that this loan is an education loan and certify that it I. WHOLE LOAN DUE: To the extent permitted by applicable law,I will be in default will be used only for costs of attendance at the School.I acknowledge that the and you have the right to give me notice that the whole outstanding principal balance, requested loan is subject to the limitations on dischargeability in bankruptcy accrued interest,and all other amounts payable to you under the terms of this Credit contained in Section 523(a)(8)of the United States Bankruptcy Code because Agreement,are due and payable at once(subject to any applicable law which may either or both of the following apply:(a)this loan was made pursuant to a give me a right to cure my default)if:(1)1 fail to make any monthly payment to you program funded in whole or in part by The Education Resources Institute,Inc. when due,(2)1 die,(3)1 break any of my other promises in this Credit Agreement,(4) ("TERI"),a non-profit institution,or(b) this is a qualified education loan as any bankruptcy proceeding is begun by or against me,or I assign any of my assets for defined in the Internal Revenue Code.This means that if,in the event of the benefit of my creditors,or(5)1 make any false written statement in applying for this bankruptcy,my other debts are discharged,I will probably still have to pay this loan or any other loan or at any time during the Deferment or Repayment Periods.If I loan in full. default,I will be required to pay interest on this loan accruing after default.The interest 12. 1 authorize any school that I may attend to release to you,and any other persons rate after default will be subject to adjustment in the same manner as before default. designated by you,any requested information pertinent to this loan(e.g.,enrollment Upon default,you may also capitalize any interest and fees(i.e.,add accrued and status,prior loan history,and current address). unpaid interest and fees to the principal balance),and increase the Margin used to 13. 1 authorize the Lender,any subsequent holder of this Credit Agreement,and their compute the Variable Rate by two percentage points(2%). agents to:(1)advise the School of the status of my application and my loan,(2) J. NOTICES: respond to inquiries from prior or subsequent lenders or holders with respect to my 1. 1 will send written notice to you,any subsequent holder of this Credit Agreement, Credit Agreement and related documents,(3)release information and make inquiries and the servicer within ten days after any change in name,address,or enrollment to the persons I have given you as references,for the purposes of learning my current status(for example,if the Borrower withdraws from the School or transfers to another address and telephone number,(4)check my credit and employment history and to school participating in this loan program). answer questions about their credit experience with me,and(5)disclose to TERI, 2. Any notice required to be given to me by you will be effective when mailed by first either in connection with this transaction or any future transaction all information class mail to the latest address you have for me. (including status information and non-public personal information)of the Borrower K. INFORMATION: provided in connection with this Credit Agreement. If in the future I apply for a loan 1. I must update the information I provided to you whenever you ask me to do so. that is guaranteed by TERI and funded by another lender,I also authorize the sharing 2. 1 authorize you from time to time to request and receive from others credit related of application information for this loan(other than information in a consumer report) information about me(and about my spouse if I live in a community property state). with the other lender and TERI and the reuse of such information by such new lender 3. CREDIT BUREAU REPORTING and TERI in my new application. You may report information about my account to credit bureaus. Late 14. Waiver by Lender: You waive(give up)any right to claim a security interest in any payments,missed payments,or other defaults in my account may be reflected property to secure this Credit Agreement. This does not affect any right to offset as a in my credit report. matter of law. tWO4777%.I,AB.06-07.CRWO.10DC.0206 3of4 15.If I fax my signature(s)on the first page of this Credit Agreement back to you and law,and(ii)that may or will be taken by you unless prohibited by"applicable law"are keep the copy I signed,I undersand that under federal law the fax you receive will be an original of the first page of this Credit Agreement. You and I agree that all copies of Permitted by New Jersey law. NEW YORK RHODE ISLAND AND VERMONT RESIDENTS:A consumer report this Credit Agreement age o(includingthe fax you receive and the copy I retain),taken (credit report)may obtained from aconsumer-reporting agency(credit bureau)in together,shall constitute a single original agreement. 16. If I elect to sign electronically an electronic record of this Credit Agreement,then connection with this loan. If I request(1)I will be informed whether or not consumer the following will apply as between Lender and me: (a)Lender will keep a non- reports were obtained,and(2)if reports were obtained,I will be informed of the names modifiable electronic record of this document and provide a copy to me upon request, and addresses of the credit bureaus that furnished the reports. If you agree to make P q this loan to me,a consumer credit report may be requested or used in connection with I can and have downloaded and/or printed a copy of this document for my records renewals or extensions of any credit for which I have applied,reviewing my loan, or notified the Lender to mail me a copy of this document,and(c)the Lenders electronic record of this document and any printout from that record shall be an OHIO collection action on my loan, g legitimate purposes associated with my loan. original for all purposes,including any lawsuit to collect amounts that I owe. OHIO R_ ES_ IpENTS:The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers,and that credit reporting M. DISCLOSURE NOTICES agencies maintain separate credit histories on each individual upon request.The Ohio ALL APPLICANTS: Civil Rights Commission administers compliance with this law. IMPORTANT FEDERAL LAW NOTICE— WISCONSIN RESIDENTS:For married Wisconsin residents,my signature on this Credit Agreement confines that this loan obligation is being incurred in the interest of my Important information about procedures for opening a new agreement),unila erlunderSectional statement der Section 766.59No provision of any maritalPo or urtrdecretunder Section account: 766.70 adversely affects the interest of the Lender unless the Lender,prior to the time To help the government fight the funding of terrorism and moneythat the loan is app or laundering activities,Federal law requires all financial institutions roved,is furnished with a copy of the agreement,statement,th decree or has actual knowledge of the adverse provision when the obligationationtto the to obtain,verify,and record information that identifies each Lender is incurred.If the loan for which I am applying is ranted,my spouse will also person who opens an account g receive notification that credit has been extended tome. What this means for you: 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 When you open an account,we will ask for your name,address, all information I provided to you in connection with this loan,including without date of birth,and other information that will allow us to identify true,complete and You.We may also ask to see your driver's license or other co ect to the best f my knowledge and belief an this rnd sreementmade n is, faith. I understand JL identifying documents, that I am responsible for repaying immediately any funds that I receive which are not CALIFORNIA RESIDENTS:I have the right to prohibit the use of information contained tSchool for the academic period stated. I certify that I am not now in default on a o be used or are not used for educational expenses related to attendance at the in my credit file in connection with transactions not initiated by me. I may exercise this Federal Perkins ental L Federal Safford Loan,a Federally Insured n,an II Loan,a right by notifying the consumer credit reporting agency. A married applicant may apply Federal Supplemental Loan for students(SLS),a Federal PLUS Loan, o Income for a separate account. If you take any adverse action as defined by Section 1785.3 of Contingent Loan,a Federal Consolidation Loan,a Federal Ford Direct Loan,or any the California Civil Code and the adverse action is based,in whole or in part,on any other education loan received for attendance at any school.The legal age for entering information contained in a consumer credit report,I have the right to obtain within 60 into Detracts is m years of age in every Sate i)the United sates except the days a free copy of my consumer credit report from the consumer reporting agency following: Alabama and Nebraska e s years old),and Mississippi and Puerto Rico(21 who furnished you my consumer credit report and from any other consumer credit years old). I certify that I meet these sate age requirements. reporting agency which compiles and maintains files on consumers on a nationwide basis. I have the right as described by Section 1785.16 of the California Civil Code to dispute the accuracy or completeness of any information in a consumer credit report furnished by the consumer credit reporting agency. CALIFORNIA AND UTAH RESIDENTS:As required by California and Utah law,I am hereby notified that a negative credit report reflecting on my credit record may be submitted to a credit reporting agency if I fail to fulfill the terms of my credit obligations. IOWA KANSAS AND NEBRASKA RESIDENTS For ur oses of the followin notice the word" ou-refers to the Borrower not the Lender):NOTICE TO CONSUMER. This is a consumer credit transaction.1.DO NOT SIGN THIS CREDIT AGREEMENT BEFORE YOU READ THIS CREDIT AGREEMENT. 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 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 to forbear from enforcing repayment of a debt including promises to extend or renew such debt are not enforceable. To protect me(borrower(s))and YOU(creditor)from misunderstanding or disappointment,any agreements we reach covering such matters are contained in this writing,which is the complete and exclusive statement of the agreement between us,except as we may later agree in writing to modify it. NEVADA RESIDENTS: This is a loan for study. NEW JERSEY RESIDENTS:The section headings of this Credit Agreement are a table of contents and not contract terms. Portions of this Credit Agreement with references to actions taken to the extent of applicable law apply to acts or practices that New Jersey law permits or requires. In this Credit Agreement,acts or practices(i) by you which are or may be permitted by"applicable law"are permitted by New Jersey t oa'rnve.r,AB.06-07.CRWO.10DC.0206 4 of4 EXHIBIT B Exhibit 99.20 Page 1 of 4 EX-99 17 national-ex9920 031107.htm EXHIBIT 99.20 EXMBIT 99.20 2007-1 POOL SUPPLEMENT CHARTER ONE BANK, N.A. This Pool Supplement(the"Sup lement")is entered into pursuant to and forms a part of each of the Note Purchase Agreements(the "Aaree�ts") set forth on Schedule 1 attached hereto. each amended.or supplemented from the date of execution of the Agreement through the date of this as Supplement, by and between The First Marblehead Corporation("-FMC") and Charter One Bank (the "Program Lender"). This Supplement is dated as of March 8, 2pQ7. Capitalized terms used in N.A. Supplement without definitions have the meanings set forth in the Agreements. this Article 1: Purchase and Sale. In consideration of the Minimum Purchase Price, the Program Lender herebytransfers, and assigns to The National Collegiate Funding LLC (the"' ositor" upon the terms and conditions rs, sells, sets over 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 "Transferr Loans")along with all of the Program.Lender's rights under the Guaranty 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 The Nation Collegiate Student Loan Trust 2007-1 (the "Trust'') The program Lender hereby transfers and deliversal 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 herebyP �ded purchases said Notes on said terms and conditions. nation Article 2:Price. The amount paid pursuant to this Supplement is the Minimum Purchase Price as defined in Section 2.04 of the Agreements, that term is Article 3: Re resentations and Warranties. 3.01. B Program^Lender. The Program Lender repeats the representations and warranties contained in Section 5.02 Agreements for flee benefit of each of the Depositor and the Trust and confirms the same are truof e and e 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 and delivery of this Supplement by the Depositor: date of execution (a)The Depositor is duly organized and validly existing as a limited liabilit3, comp an un laws of the State of Delaware with the due power and authority to own its properties a p y der the business as such properties are currently owned and such business is presently conducted,and had at t all httP://u,�Arw.see.gov/Archives/edgar/data/I"89749/000089968107000230/national-ex99 20 ... 9/28/2011 Exhibit 99.20 Page 2 of 4 relevant times, and has,the power,authority and legal right to acquire and own the Transferred 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 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 Agreements of which this Suppiem.ent forms a p , constitutes a legal, valid and binding obligation of the Depositor,enforceable in accordance with its art 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 tune)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 likely to materially or adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of 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. 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 Transfeed 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 http://R,NAnA%.see.,, v/Archives/ed.gar/data/l X89749/000089968107000230/national-ex9920 ... 9/28/2011 Exhibit 99.20 Page 3 of 4 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 an sec interest it may have in such collateral. Program Lender hereby authorizes the Depositor, its successors and assigns, to file in any security collateral pledged Y public filing office where a Uniform Commercial Code Filing with respect to P g�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. Y [Remainder of page intentionally blank] IN WITNESS WHEREOF. the parties set forth above. have caused this Supplement to be executed as of the date THE FIRST MARBLEHEAD CORPORATION By:Is/John.A. FoxQver John A. Foxgrover Senior Vice President CHARTER ONE BANK,N.A. By:/s/Michael McFarlane Michael McFarlane Senior Vice President THE NATIONAL COLLEGIATE FUNDING LLC By: GATE Holdings,Inc.,Member By: s/John A. Foxgrover John A. Foxgrover Vice President Sche---- dule I Note Purchase Agreements • Note Purchase Agreement dated as of October 31.,2003 by and between FMC and the Program Lender for AES. • Note Purchase Agreement dated as of June 30,2003 by and between FMC and the Pro for Citibank. gram Lender • Note Purchase Agreement dated as of July 1,2002 by and between FMC and ram Le for CLC. the Program Lender • Note Purchase Agreement dated as of September 20, 2003 by and between FMC and t Lender for M& I Bank he Program httP://wAINA.see-gov/Archives/edgar/data/I389749/000089968107000230/nation - al ex9920_... 9/28/201.1 Exhibit 99.20 Page 4 of 4 • Note Purchase Agreement dated as of November 17, 2003 by and between FMC and the Program Lender for National Education. • Note Purchase Agreement dated as of May 15,2002 by and between FMC and the Program Lender for Nextstudent. • Note Purchase Agreement dated as of September 15,2003 by and between FMC and the Program Lender for North Texas Higher Education. • Note Purchase Agreement dated as of May 15,2003 by and between FMC and the Program Lender for Washington Mutual(WAMU). • Note Purchase Agreement dated as of December 29, 2003 by and between FMC and the Program Lender for AAA Southern New England Bank. • Note Purchase Agreement dated as of December 1, 2003 by and between:FMC and the Program Lender for the Custom Educredit Loan Program. • Note Purchase Agreement dated as of May 10,2004 by and between FMC and the Program Lender for the Edfinancial Loan Program. • Note Purchase Agreement dated as of March 26, 2004 by and between FMC and the Program Lender for the NextStudent Private Consolidation Loan Program. • Note Purchase Agreement dated as of February 15, 2005 by and between FMC and the Program Lender for the Charter One Referral Loan Program(including loans in the UPromise, Collegiate Solutions, College Board,Axiom Alternative Loan Programs, and Think Financial). • Note Purchase Agreement dated May 15, 2002 by and between FMC and the Program Lender for TERI-Guaranteed CFS Loan Program. • Note Purchase Agreement dated May 15,2002 by and between FMC and.the Program Lender for TERI-Guaranteed NextStudent Loan Program. • Note Purchase Agreement dated March 25,2004 by and between FMC and the Program Lender for TERI-Guaranteed Astrive and AstriveAlliance Education Loan.Program. Schedule 2 [Transferred Loans] http://ww,A,.sec.gov/Archives/edgar/data/13 89749/000089968107000230/national-ex9920 ... 9/28/2011 EX-99 7 national-ex995 031107.htm EXHIBIT 99.5 DEPOSIT AND SALE AGREEMENT THE NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1 This DEPOSIT AND SALE AGREEMENT(the "Sale Ageemenf), dated as of March 8, 2007, between The National Collegiate Funding LLC, as seller(in such capacity, the"Seller"), and The National Collegiate Student Loan Trust 2007-1, as purchaser(the "Purchaser'), shall be effective upon execution by the parties hereto. WHEREAS, the Seller is the owner of certain student loans; and WHEREAS, the Seller desires to sell its interest in such student loans and the Purchaser desires to purchase such loans from the Seller. NOW, THEREFORE, in connection with the mutual promises contained herein, the parties hereto agree as follows: ARTICLE I TERMS This Sale Agreement sets forth the terms under which the Seller is selling and the Purchaser is purchasing the student loans listed on Schedule 1 or Schedule 2 to each of the Pool Supplements set forth on Schedule A attached hereto (the "Transferred Student Loans'). ARTICLE II DEFINITIONS Capitalized terms used but not otherwise defined herein shall have the definitions set forth in Appendix A of the Indenture dated as of March 1, 2007 between U.S. Bank National Association(the "Indenture Trustee') and the Purchaser. ARTICLE III SALE AND PURCHASE Section 3.01. Sale of Loans. The Seller hereby sells and the Purchaser hereby purchases the Transferred Student Loans. Section 3.02. Assignment of Ekhts. The Seller hereby assigns to the Purchaser and the Purchaser hereby accepts all of the Seller's rights and interests under each of the Pool Supplements listed on Schedule A attached hereto and the related Student Loan Purchase Agreements listed on Schedule B attached hereto. Section 3.03. Settlement of the Pa, e The Purchaser shall pay the Seller the purchase price set forth in Article 2 of each of the Pool Supplements by wire transfer in immediately available funds to the account specified by the Seller. Section 3.04. Assistance by Seller. Following the execution of this Sale Agreement, the Seller shall provide any reasonable assistance requested by the Purchaser in determining that all required documentation on the Transferred Student Loans is present and correct. ARTICLE IV REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER Section 4.01. General. The Seller represents and warrants to the Purchaser that as of the date of this Sale Agreement: (a) The Seller is duly organized and existing under the laws of the State of Delaware; and (b) The Seller has all requisite power and authority to enter into and to perform the terns of this Sale Agreement. Section 4.02. Loan Representations. The Seller represents and warrants to the Purchaser that with respect to each Transferred Student Loan purchased by the Purchaser pursuant to this Sale Agreement, the Seller is making the same representations and warranties made by the respective program lender with respect to each Transferred Student Loan pursuant to the respective Student Loan Purchase Agreement listed on Schedule B attached hereto. Section 4.03. Covenants. The Seller, in its capacity as purchaser of the Transferred Student Loans pursuant to the Pool Supplements, hereby covenants that it will enforce the covenants and agreements of each program lender in the respective Student Loan Purchase Agreement and related Pool Supplement. The Seller further covenants that it will not waive, amend, modify, supplement or terminate any Student Loan Purchase Agreement or Pool Supplement or any provision thereof without the consent of the Purchaser, which consent the Purchaser hereby agrees not to provide without the prior written consent of the Indenture Trustee and the Interested Noteholders in accordance with the Purchaser's covenant in Section 3.07(c)of the Indenture. ARTICLE V PURCHASE OF LOANS; REIMBURSEMENT Each party to this Sale Agreement shall give notice to the other such parties and to the Servicers, First Marblehead Data Services, Inc.,the Indenture Trustee and Wilmington Trust Company(the"Owner Trustee') promptly, in writing, upon the discovery of any breach of the Seller's representations and warranties made pursuant to this Sale Agreement which has a materially adverse effect on the interest of the Purchaser in any Transferred Student Loan. In the event of such a material breach,the Seller shall cure or repurchase the Transferred Student Loan in accordance with the remedies set forth in the respective Student Loan Purchase Agreement. ARTICLE VI LIABILITY OF SELLER; INDEMNITIES The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Sale Agreement. (a) The Seller shall indemnify, defend and hold harmless the Purchaser and the Owner Trustee in its individual capacity and their officers, directors, employees and agents from and against any taxes that may at any time be asserted against any such Person with respect to the transactions contemplated herein and in the other Basic Documents(except any such income taxes arising out of fees paid to the Owner Trustee), including any sales, gross receipts, general corporation,tangible and intangible personal property, privilege or license taxes and costs and expenses in defending against the same. (b) The Seller shall indemnify, defend and hold harmless the Purchaser and the Owner Trustee in its individual capacity and their officers, directors, employees and agents from and against any and all costs, expenses, losses, claims, damages and liabilities arising out of� or imposed upon such Person through, the Seller's willful misfeasance, bad faith or gross negligence in the performance of its duties under this Sale Agreement, or by reason of reckless disregard of its obligations and duties under this Sale Agreement. Indemnification under this Section shall survive the termination of this Sale Agreement and shall include reasonable fees and expenses of counsel and expenses of litigation. If the Seller shall have made any indemnity payments pursuant to this Section and the Person to or for the benefit of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Seller, without interest. ARTICLE VII MERGER OR CONSOLIDATION OF, OR ASSUMPTION OF THE OBLIGATIONS OF, SELLER Any Person(a) into which the Seller may be merged or consolidated, (b)which may result from any merger or consolidation to which the Seller shall be a party or(c)which may succeed to the properties and assets of the Seller substantially as a whole, shall be the successor to the Seller without the execution or filing of any document or any further act by any of the parties to this Sale Agreement; rp ovided, however, that the Seller hereby covenants that it will not consummate any of the foregoing transactions except upon satisfaction of the following:(i)the surviving Person, if other than the Seller, executes an agreement of assumption to perform every obligation of the Seller under this Sale Agreement, (ii) immediately after giving effect to such transaction, no representation or warranty made pursuant to this Sale Agreement shall have been breached, (iii)the surviving Person, if other than the Seller, shall have delivered an Officers' Certificate and an opinion of counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, if any, provided for in this Sale Agreement relating to such transaction have been complied with, and that the Rating Agency Condition shall have been satisfied with respect to such transaction, (iv) if the Seller is not the surviving entity, such transaction will not result in a material adverse federal or state tax consequence to the Purchaser or the Noteholders, and(v) if the Seller is not the surviving entity, the Seller shall have delivered an opinion of counsel either(A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary fully to preserve and protect the interest of the Purchaser in the Transferred Student Loans and reciting the details of such filings, or(B) stating that, in the opinion of such counsel, no such action shall be necessary to preserve and protect such interests. ARTICLE VIII LIMITATION ON LIABILITY OF SELLER AND OTHERS The Seller and any director or officer or employee or agent thereof may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising hereunder(provided that such reliance sball not limit in any way the Seller's obligations under this Sale Agreement). The Seller shall not be under any obligation to appear in,prosecute or defend any legal action that shall not be incidental to its obligations under this Sale Agreement or the Student Loan Purchase Agreements, and that in its opinion may involve it in any expense or liability. ARTICLE IX SURVIVAL OF COVENANTS All covenants, agreements, representations and warranties made herein shall survive the consummation of the purchase of the Transferred Student Loans; ron vided, however, that to the extent any of the same relate to a corresponding covenant, agreement, representation or warranty contained in a Student Loan Purchase Agreement, the same shall survive to the extent that such corresponding covenant, agreement, representation or warranty survives the applicable Student Loan Purchase Agreement. All covenants, agreements, representations and warranties made or limlished pursuant hereto by or for the benefit of the Seller(including without limitation, under Article VI) shall bind and 'mare to the benefit of any successors or assigns of the Purchaser, including the Indenture Trustee. This Sale Agreement may be changed, modified or discharged, and any rights or obligations hereunder may be waived, only by a written instrument signed by a duly authorized officer of the party against whom enforcement of any such waiver, change, modification or discharge is sought. The waiver by the Indenture Trustee, at the direction of the Noteholders or otherwise pursuant to the Indenture, of any covenant, agreement, representation or warranty required to be made or furnished by the Seller or the waiver by the Indenture Trustee, at the direction of the Noteholders or otherwise pursuant to the Indenture, of any provision herein contained shall not be deemed to be a waiver of any breach of any other covenant, agreement, representation, warranty or provision herein contained, nor shall any waiver or any custom or practice which may evolve between the parties in the administration of the terms hereof be construed to lessen the right of the Indenture Trustee, at the direction of the Noteholders pursuant to the Indenture, to insist upon the performance by the Seller in strict accordance with said terms. ARTICLE X COMMUNICATION AND NOTICE REQUIREMENTS All communications, notices and approvals provided for hereunder shall be in writing and mailed or delivered to the Seller or the Purchaser, as the case may be. Notice given in any such communication, mailed to the Seller or the Purchaser by appropriately addressed registered mail, shall be deemed to have been given on the day following the date of such mailing and shall be addressed as follows: If to the Purchaser,to: The National Collegiate Student Loan Trust 2007-1 c/o Wilmington Trust Company, as Owner Trustee Rodney Square North 100 North Market Street Wilmington, Delaware 19890-0001 Attention: Corporate Trust Department If to the Seller,to: The National Collegiate Finding LLC c/o First Marblehead Data Services, Inc. The Prudential Tower 800 Boylston Street—34th Floor Boston,MA 02199-8157 Attention: Ms. Rosalyn Bonaventure with a copy to: First Marblehead Corporation The Prudential Tower 800 Boylston Street—34th Floor Boston, MA 02199-8157 Attention: Corporate Law Department or to such other address as either parry shall have provided to the other parties in writing. Any notice required to be in writing hereunder shall be deemed given if such notice is mailed by certified mai, postage prepaid, or hand delivered to the address of such party as provided above. ARTICLE XI AMENDMENT This Sale Agreement may be amended by the parties hereto without the consent of the Noteholders for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Sale Agreement or of modifying in any manner the rights of such Noteholders; rn ovided that such action will not, in the opinion of counsel reasonably satisfactory to the Indenture Trustee, materially affect the interest of any such Noteholder. In addition,this Sale Agreement may also be amended from time to time by the Seller and the Purchaser, with the consent of the Noteholders of the Notes evidencing a majority of the Outstanding Amount of the Notes and the consent of the Certificateholders of the Certificates evidencing a majority of the percentage interest in the Certificates, for the purpose of adding any provisions to or changing in any manner or eli nunating any of the provisions of this Sale Agreement or of modifying in arty manner the rights of the Noteholders or the Certificateholders, respectively;provided, however,that no such amendment shall(a) increase or reduce in any manner the amount of or accelerate or delay the time ot'collections of payments with respect to Transferred Student Loans or distributions that shall be required to be made for the benefit of the Noteholders, or(b)reduce the aforesaid percentage of the Outstanding Amount of the Notes or the Certificates, the Noteholders or the Certificateholders of which are required to consent to any such amendment, without the consent of all outstanding Noteholders or Certificateholders, respectively. Promptly after the execution of any such amendment or consent(or, in the case of the Rating Agencies, five Business Days prior thereto), the Purchaser shall firnish written notification of the substance of such amendment or consent to the Indenture Trustee and each of the Rating Agencies. It shall not be necessary for the consent of Noteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. Prior to the execution of any amendment to this Sale Agreement, the Owner Trustee shall be entitled to receive and rely upon an opinion of counsel stating that execution of such amendment is authorized or permitted by this Sale Agreement. The Owner Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner Trustee's own rights, duties or immunities under this Sale Agreement or otherwise. ARTICLE XII ASSIGNMENT The Seller hereby assigns its entire right, title and interest as purchaser under this Sale Agreement and each Student Loan Purchase Agreement to the Purchaser as of the date hereof and acknowledges that the Purchaser will assign the same,together with the right, title and interest of the Purchaser hereunder,to the Indenture Trustee under the Indenture. ARTICLE XIII GOVERNING LAW THIS SALE AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5- 1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES,AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. ARTICLE XIV LIMITATION OF LIABILITY OF OWNER TRUSTEE Notwithstanding anything contained herein to the contrary, this instrument has been executed by Wilmington Trust Company, not in its individual capacity but solely in its capacity as Owner Trustee of the Purchaser, and in no event shall Wilmington Trust Company in its individual capacity or any beneficial owner of the Purchaser have any liability for the representations, warranties, covenants, agreements or other obligations of the Purchaser hereunder, as to all of which recourse shall be had solely to the assets of the Purchaser. For all purposes of this Sale Agreement, in the performance of any duties or obligations of the Purchaser hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of� the terms and provisions of Articles VIII, IX and X of the Trust Agreement. [Signature Pages Follow] IN WITNESS WHEREOF, the parties hereto have caused this Sale Agreement to be duly executed by their respective officers hereunto duly authorized, as of the day and year first above written. THE NATIONAL COLLEGIATE FUNDING LLC, as Seller By: GATE Holdings, Inc., Member By: /s/John A. Foxgrover Name: John A. Foxgrover Title: Vice President THE NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1, as Purchaser By: Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee By: /s/Donald G. MacKelcan Name: Donald G. MacKelcan Title: Senior Vice President SCHEDULE A Pool Supplements Each of the following Pool Supplements was entered into by and among The First Marblehead Corporation, The National Collegiate Funding LLC and: • Bank of America,N.A., dated March 8, 2007, for loans that were originated under Bank of America's BAGEL Loan Program, TERI School Channel Loan Program, Direct to Consumer Loan Program and ISLP Loan Program. • Charter One Bank,N.A., dated March 8, 2007, for loans that were originated under the following Charter One programs:AAA Southern New England Bank, AES EducationGAIN Loan Program, Astrive Education Loan Program, AstriveAlliance Education Loan Program,Axiom Alternative Loan Program, CFS Direct to Consumer Loan Program, Citibank Education Assistance Loan Program, College Board Alternative Loan Program, College Loan Corporation Loan Program, Collegiate Solutions Alternative Loan Program, Custom Educredit Loan Program, EdFinancial Loan Program, Extra Credit R Loan Program(North Texas Higher Education), M&I Alternative Loan Program,National Education Loan Program, NextStudent Alternative Loan Program, ThinkFinancial Alternative Loan Program, and UPromise Alterative Loan Program, and WAMU Alternative Student Loan Program • Citizens Bank of Rhode Island, dated March 8, 2007, for loans that were originated under Citizens Bank of Rhode Island's Alternative Loan Program, ISLP Loan Program, Compass Bank Loan Program,Navy Federal Alternative Loan Program, Penn State Undergraduate Loan Program, FinanSure Alternative Loan Program, and Xanthus Alternative Loan Program. • Comerica Bank, dated March 8, 2007, for loans that were originated under Comerica Bank's Private Loan Program. • First National Bank Northeast, dated March 8, 2007, for loans that were originated under First National Bank Northeast's Nelnet Alternative Loan Program. • HSBC Bank USA,National Association, dated March 8, 2007, for loans that were originated under the HSBC Loan Program. • The Huntington National Bank, dated March 8, 2007, for loans that were originated under The Huntington National Bank's Huntington Bank Education Loan Program • InsurBanc, dated March 8, 2007, for loans that were originated under the InsurBanc Loan Program • JPMorgan Chase Bank,N.A. (successor to Bank One,N.A.)dated March 8, 2007, for loans that were originated under Bank One's CORPORATE ADVANTAGE Loan Program, EDUCATION ONE Loan Program, and Campus One Loan Program. • KeyBank National Association, dated March 8, 2007, for loans that were originated under KeyBank's Private Education Loan Program • Manufacturers and Traders Trust Company, dated March 8, 2007, for loans that were originated under Manufacturers and Traders Trust Company's M&T Alternative Loan Program • National City Bank, dated March 8, 2007, for loans that were originated under National City Bank's Alternative Loan Program • National City Bank, dated March 8, 2007, for loans that were originated under National City Bank's Referral Loan Program, including the Astute Private Loan Program • PNC Bank,N.A., dated March 8, 2007, for loans that were originated under PNC Bank's PNC Bank Alternative Loan Program, Brazos Alternative Loan Program, Edvisors Alternative Loan Program, GE Money Bank Alternative Loan Program, Old National Bank Alternative Loan Program, and Regions Bank Alternative Loan Program • Sovereign Bank, dated March 8, 2007, for loans that were originated under Sovereign Bank's Alternative Loan Program • SunTrust Bank, dated March 8, 2007, for loans that were originated under SunTrust Bank's SunTrust Alternative Loan Program • TCF National Bank, dated March 8, 2007, for loans that were originated under TCF National Bank's Alternative Loan Program. • U.S. Bank National Association, dated March 8, 2007, for loans that were originated under U.S Bank's Alternative Loan Program. SCHEDULE B Note Purchase Agreements Each of the Note Purchase Agreements, as amended or supplemented, was entered into by and between The First Marblehead Corporation and: • Bank of America,N.A., dated April 30, 2001, for loans that were originated under Bank of America's BAGEL Loan Program, TERI School Channel Loan Program and ISLP Loan Program. • Bank of America,N.A., dated June 30, 2006, for loans that were originated under Bank of America's BAGEL Loan Program, TERI School Channel Loan Program and ISLP Loan Program. • Bank of America,N.A., dated April 1, 2006, for loans that were originated under Bank of America's Direct to Consumer Loan Program. • 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. • Charter One Bank,N.A., dated October 31, 2003, for loans that were originated under Charter One's AES EducationGAIN Loan Program. • Charter One Bank,N.A., dated May 15, 2002, for loans that were originated under Charter One's CFS Direct to Consumer 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 December 1, 2003, for loans that were originated under Charter One's Custom Educredit 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. • Charter One Bank, N.A., dated March 25, 2004, for loans that were originated under Charter One's Astrive and AstriveAlliance Education Loan Programs. • Charter One Bank,N.A., dated May 15, 2003, for loans that were originated under Charter One's WAMU Alternative Student Loan Program. • 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 UPromise Alternative Loan Program, Collegiate Solutions Alternative Loan Program, College Board Alternative Loan Program, Axiom Alternative Loan Program, and ThinkFinancial Alternative Loan Program). • Citizens Bank of Rhode Island, dated April 30, 2004, for loans that were originated under Citizens Bank of Rhode Island's Alternative Loan Program, ISLP Loan Program, Compass Bank Alternative Loan Program, FinanSure Alternative Loan Program,Navy Federal Alternative Loan Program, and Xanthus Alternative Loan Program. • Citizens Bank of Rhode Island, dated October 1, 2002, for loans that were originated under Citizens Bank of Rhode Island's Penn State Undergraduate Loan Program. • Comerica Bank, dated June 30, 2006, for loans that were originated under Comerica Bank's Private Loan Program. • First National Bank Northeast, dated August 1, 2001, for loans that were originated under First National Bank Northeast's Nehiet Undergraduate Alternative Loan Program. • HSBC Bank USA,National Association, dated April 17, 2002, as amended on June 2, 2003 and August 1, 2003, for bans that were originated under the HSBC Loan Program. • The Huntington National Bank, dated May 20, 2003, for loans that were originated under The Huntington National Bank's Huntington Bank Education Loan Program. • InsurBanc, dated July 1, 2006, for loans that were originated under the InsurBanc Loan Program • JPMorgan Chase Bank,N.A. (successor to Bank One,N.A.), dated May 1, 2002, for loans that were originated under Bank One's CORPORATE ADVANTAGE Loan Program, EDUCATION ONE Loan Program, and Campus One Loan Program. • KeyBank National Association, dated May 12, 2006, for loans that were originated under KeyBank's Private Education Loan Program. • Manufacturers and Traders Trust Company, dated April 29, 2004, for loans that were originated under Manufacturers and Traders Trust Company's Alternative Loan Program. • National City Bank, dated November 13, 2002, for loans that were originated under National City Bank's National City Alternative Loan Program. • National City Bank, dated July 21, 2006, for loans that were originated under National City Bank's Referral Loan Program, including the Astute Private Loan Program. • PNC Bank,N.A., dated April 22, 2004, for loans that were originated under PNC Bank's Alternative Conforming Loan Program, Brazos Alternative Loan Program, Edvisors Alternative Loan Program, GE Money Bank Alternative Loan Program, Old National Bank Alternative Loan Program, and Regions Bank Alternative Loan Program • Sovereign Bank, dated April 30, 2004, for loans that were originated under Sovereign Bank's Alternative Loan.Program • SunTrust Bank, dated March 1, 2002, for loans that were originated under StmTrust Bank's SunTrust Alternative Loan Program - • TCF National Bank, dated July 22, 2005, for loans that were originated under TCF National Bank's Alternative Loan Program • U.S. Bank National Association, dated May 1, 2005, for loans that were originated under U.S Bank's Alternative Loan Program. Ronny R Anderson Sheriff Jody S Smith Chief Deputy Richard W Stewart Solicitor SHERIFF'S OFFICE OF CUMBERLAND COUNTY :;0 -OFFICE ICS' ui= THE PRO 1 HO O IAit'.r "LON NOV _3 PM 3:56 "+s CUMBERLAND COUNTY PENNSYLVANIA OFf (E OF THE S'K_RIFF National Collegiate Student Loan Trust 2007-1 vs. Jeremy E. Schultz Case Number 2014-6161 SHERIFF'S RETURN OF SERVICE 10/27/2014 09:12 PM - Deputy Jason Kinsler, 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: Jeremy E. Schultz at 48 S. East Street, Carlisle Borough, Carlisle, PA 17013. —1 T SON KINSLER, DEPUTY SHERIFF COST: $34.78 SO ANSWERS, October 28, 2014 (C) countvSu ie Sheriff, Teleosori, RONNN R ANDERSON, SHERIFF ar IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA "t1 721'‘ National Collegiate Student Loan CIVIL DIVISION Trust 2007-1 _ c/o NCO Financial Systems Inc. NO: 14 -6161 -Civil c--, 5100 Peachtree Industrial Blvd. •. Norcross, GA 30071, Plaintiff, vs. Jeremy Schultz 48 S. East St. Carlisle, PA 17013-2513, Defendant. TYPE OF PLEADING: Praecipe For Entry Of Appearance FILED ON BEHALF OF: Jeremy Schultz, Defendant COUNSEL OF RECORD: Eugene D. Frank, Esquire PA ID # 89862 P.O. Box 845 Pittsburgh, PA 15230 (412) 366-4276 (office) (412) 366-4305 (fax) IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION National Collegiate Student Loan Trust 2007-1 c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd. Norcross, GA 30071, Plaintiff, vs. Jeremy Schultz 48 S. East St. Carlisle, PA 17013-2513, Defendant. Case No. 14 -6161 -Civil PRAECIPE FOR ENTRY OF APPEARANCE To the Prothonotary: Enter my appearance on behalf of Defendant Jeremy Schultz. Papers may be served at the address set forth below. Respectfully bmitted, By: Dated: November 21, 2014 Euge e D. Frank, Esquire PA r # 89862 P.O. Box 845 Pittsburgh, PA 15230 (412) 366-4276 Office (412) 366-4305 Fax IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA National Collegiate Student Loan Trust 2007-1 c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd. Norcross, GA 30071, Plaintiff, vs. Jeremy Schultz 48 S. East St. Carlisle, PA 17013-2513, Defendant. CIVIL DIVISION NO: 14 -6161 -Civil TYPE OF PLEADING: Preliminary Objections To Complaint FILED ON BEHALF OF: Jeremy Schultz, Defendant COUNSEL OF RECORD: Eugene D. Frank, Esquire PA ID # 89862 P.O. Box 845 Pittsburgh, PA 15230 (412) 366-4276 (office) (412) 366-4305 (fax) IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION National Collegiate Student Loan Trust 2007-1 c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd. Norcross, GA 30071, Plaintiff, vs. Jeremy Schultz 48 S. East St. Carlisle, PA 17013-2513, Defendant. Case No. 14 -6161 -Civil NOTICE TO PLEAD To: National Collegiate Student Loan Trust 2007-1 You are hereby notified to file a written response to the enclosed/attached Preliminary Objections To Complaint within twenty (20) days from service hereof or a judgment may be entered against you. Respectfully :` bmitted, By: Dated: November 21, 2014 Eugenb D. Frank, Esquire PAID # 89862 P.O. x 845 Pitts rgh, PA 15230 (412) 366-4276 Office (412) 366-4305 Fax IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION National Collegiate Student Loan Trust 2007-1 c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd. Norcross, GA 30071, Plaintiff, vs. Jeremy Schultz 48 S. East St. Carlisle, PA 17013-2513, Defendant. Case No. 14 -6161 -Civil PRELIMINARY OBJECTIONS TO COMPLAINT AND NOW, comes Defendant, Jeremy Schultz, by and through his undersigned counsel, Eugene D. Frank, Esquire and the Law Offices of Eugene D. Frank, P.C., and pursuant to Pa. R.C.P. No. 1028, hereby files the following Preliminary Objections To Complaint: FIRST PRELIMINARY OBJECTION Plaintiff's Complaint should be dismissed for failure to conform to law or rule of court and/or lack of capacity to sue because Plaintiff failed to attach copies of the complete written notes/assignments to the Complaint or otherwise failed to properly plead in order to establish a contractual right to maintain suit against Defendant and/or to establish the terms and conditions of any underlying note upon which Plaintiff's claim(s) is/are based in violation of Pa. R.C.P. No. 1019(i) 1. On or about October 20, 2014, Plaintiff, National Collegiate Student Loan Trust 2007-1 (the "Plaintiff"), filed the above -captioned collection case alleging that the Defendant, Jeremy Schultz (the "Defendant"), is in default on a promissory note with an amount due of $24,620.29. Plaintiff alleges it is the current assignee and successor in interest of the relevant promissory note (the "Account"). 2. Pursuant to Pa. R.C.P. No. 1028(a)(2), preliminary objections may be sustained for failure of a pleading to conform to law or rule of court. 3. Pursuant to Pa. R.C.P. No. 1028(a)(5), preliminary objections may be sustained for lack of capacity to sue. 4. Plaintiff's claim(s) is/are based on writings. Specifically, Plaintiff claims that "[t]he defendant executed the promissory note for the payment of tuition in which the defendant was required to make monthly payments." See Complaint ¶ 2. Additionally, Plaintiff claims that "[t]he defendant's account was transferred and assigned by the original lender to the plaintiff. (See "Pool Supplement and Deposit and Sales Agreement" attached hereto as Exhibit "B" demonstrating the chain of title for this account)." See Complaint ¶ 3. 5. A creditor must attach the writings which assertedly establish the creditor's right to a judgment, including evidence of the assignment(s). Atlantic Credit and Finance, Inc. 829 A.2d at 345. 6. Pennsylvania Rule of Civil Procedure 1019(i) requires that the Plaintiff attach a copy of the writing(s) that is/are the basis of its claim or, if unavailable, to set forth the substance of the writing(s) and the reason why the writing(s) is/are not available. 7. Plaintiff failed to attach to the Complaint the complete underlying written note between the parties to this litigation and/or failed to otherwise comply with Pa. R.C.P. No. 1019(i). The attached promissory note is incomplete and also makes no reference to Plaintiff as a party to said note. 8. To the extent the underlying promissory note between a non-party to this litigation and the Defendant was transferred and/or assigned, Plaintiff also failed to attach to its Complaint the complete and properly executed written assignment(s) that trace(s) the ownership of the Account from the original creditor to Plaintiff and/or failed to otherwise comply with Pa. R.C.P. No. 1019(i). 2 9. Because Plaintiff failed to attach the necessary writings and/or failed to otherwise comply with Pa. R.C.P. No. 1019(i), Defendant is unable to prepare his answer to the Complaint. WHEREFORE, Defendant respectfully requests that this Honorable Court sustain this Preliminary Objection and dismiss the Complaint. SECOND PRELIMINARY OBJECTION Plaintiff's Complaint should be dismissed for failure to conform to law or rule of court and/or for insufficient specificity because Plaintiff has failed to state specifically how its claim of $24,620.29 was derived and the history of all assignments of the Account in violation of Pennsylvania Rules of Civil Procedure 10. Defendant incorporates paragraphs 1 through 9 as set forth fully herein. 11. Pursuant to Pa. R.C.P. No. 1028(a)(2), Preliminary Objections may be sustained for failure of a pleading to conform to law or rule of court. 12. Pursuant to Pa. R.C.P. No. 1028(a)(3), Preliminary Objections may be sustained for insufficient specificity in a pleading. 13. Pa. R.C.P. No. 1019(a) provides that "[t]he material facts on which a cause of action or defense is based shall be stated in concise and summary form." 14. Pa. R.C.P. No. 1019(f) provides that "averments of time, place and items of special damages shall be specifically stated." Items of special damage(s) include, but are not limited to, the dates and amounts of charges, fees, penalties, and interest in collection cases. 15. Pa. R.C.P. No. 2002(a) provides that "all actions shall be prosecuted by and in the name of the real party in interest." 16. Plaintiff failed to state how it derived and/or calculated the current balance of $24,620.29 owed on the Account and failed to state a basis for the entitlement of costs as indicated in the Complaint. 17. Plaintiff also failed to attach the necessary documentation to its Complaint to support its allegation that Defendant is indebted to Plaintiff in the amount of $24,620.29 and is entitled to costs. 3 18. Rule 1019 requires Plaintiff to allege and/or attach documentation that contains information sufficient to establish how it arrived at its current claim amount, which would include dates of charges, payments, credits, interest charges and other charges. 19. Furthermore, Plaintiff failed to plead the date of last payment by Defendant or the date of default by Defendant, whether any 3rd party guarantors made payments for the Account, the date of charge off of the Account and the derivation of all assignments of the Account including the dates and parties involved. 20. Because Plaintiff failed to specifically state the material facts on which its claims are based as required by Pa. R.C.P. Nos. 1019(a), 1019(f) and/or 2002(a), Defendant is unable to prepare his answer to the Complaint. WHEREFORE, Defendant respectfully requests that this Honorable Court sustain this Preliminary Objection and dismiss the Complaint. THIRD PRELIMINARY OBJECTION Plaintiff's Complaint should be dismissed for failure to conform to law or rule of court because Plaintiff's Verification fails to comply with the requirements set forth in Pa. R.C.P. No. 1024(c) 21. Defendant incorporates paragraphs 1 through 20 as set forth fully herein. 22. Pursuant to Pa. R.C.P. No. 1028(a)(2), Preliminary Objections may be sustained for failure of a pleading to conform to law or rule of court. 23. Verification may be made by any person having sufficient knowledge or information and belief and shall set forth the source of the person's information as to matters not stated upon his or her own knowledge and the reason why the verification is not made by a party. Pa. R.C.P. No. 1024(c). 24. Plaintiff's Verification is improperly verified by Plaintiffs attorney. 25. Plaintiff's Verification fails to state the reason why the verification is not made by a party and/or does not demonstrate the necessary prerequisites for permitting a non-party verification of a pleading. 4- WHEREFORE, Defendant respectfully requests that this Honorable Court sustain t this Preliminary Objection and dismiss the Complaint and/or this Case. Dated: November 21, 2014 Respectfully ubmitted, By: 1 Eugen' D. Frank, Esquire PA ID # 89862 5 P.O. Box 845 Pittsburgh, PA 15230 (412) 366-4276 Office (412) 366-4305 Fax IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION National Collegiate Student Loan Trust 2007-1 c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd. Norcross, GA 30071, Plaintiff, vs. Jeremy Schultz 48 S. East St. Carlisle, PA 17013-2513, Defendant. Case No. 14 -6161 -Civil CERTIFICATE OF SERVICE The undersigned does hereby certify that a true and correct copy of the within Praecipe For Entry Of Appearance and Preliminary Objections To Complaint was forwarded to the following individual(s) this 21st day of November, 2014, via first-class U.S. mail, postage prepaid: Michael F. Ratchford, Esquire The Law Office of Abrahamsen Ratchford, P.C. 120 N. Keyser Avenue Scranton, PA 18504 (Counsel for Plaintiff) Respectfully emitted, By: Eugenio D. Frank Attorney for Defendant IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1 CIVIL ACTION c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd Norcross, GA 30071 vs. JEREMY SCHULTZ 48 S EAST ST CARLISLE PA 17013-2513 Plaintiff : Defendant : NO: 14-6161 CIVIL 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 717-243-9400 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1 : CIVIL ACTION c/o NCO Financial Systems Inc. 5100 Peachtree Industrial Blvd Norcross, GA 30071 vs. JEREMY SCHULTZ 48 S EAST ST CARLISLE PA 17013-2513 Plaintiff : : NO: 14-6161 CIVIL Defendant : N1400892 AMENDED COMPLAINT Plaintiff, NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1, by and through its attorneys, Abrahamsen Ratchford, P.C., complains of the Defendant as follows: 1. Defendant JEREMY SCHULTZ (hereinafter "Defendant") is an adult individual residing at 48 S EAST ST CARLISLE PA 17013-2513. 2. On November 21, 2006 Defendant executed a Loan Request/Credit Agreement for a student loan in the amount of $23,000.00 for which he was required to make monthly repayment. A true copy of the Loan Request/Credit Agreement is attached hereto as Exhibit "A." 3. Defendant signed the Loan Request/Credit Agreement as the Student Borrower. 4. On November 29, 2006 the loan funds were disbursed from the original lender to the Defendant and/or his academic institution. 5. The loan funds were not returned to the original lender. 6. The principal amount of the loan, $14,525.14, and the repayment terms were disclosed to Defendant by the original lender in a Note Disclosure Statement. A true copy of the Note Disclosure Statement is attached hereto as Exhibit "A." 7. By and through his signature on the Loan Request/Credit Agreement and acceptance of the loan funds, Defendant agreed to be bound by the terms of the written Credit Agreement. 8. Defendant failed to make a payment toward the loan balance following the expiration of the forbearance and the loan became delinquent on January 4, 2012. 9. Defendant's student loan account was transferred and assigned by the original lender to Plaintiff. (See "Pool Supplement" attached hereto as Exhibit "B" demonstrating the chain of title for this account) 10. Plaintiff has requested repayment on the loan and Defendant has failed and refused to make payment. 11. Plaintiff declares Defendant to be in default and demands payment of the balance due from the Credit Agreement. 12. The balance currently owed by defendants is $24,620.29. WHEREFORE, Plaintiff requests judgment in its favor and against Defendant in the amount of $24,620.29 plus costs of suit and any other relief as the Court deems just and appropriate. Resp- full Michael; . Ratchford Esquire Attorney I.D. Nos.: 8.285 120 N. Keyser Ave Scranton, PA 18504 Phone: 800-503-1665 VERIFICATION I, Michael Ratchford, attorney for Plaintiff, NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1, am fully familiar with the facts set forth in the within Amended Complaint and am authorized to make this Verification on behalf of Plaintiff. I am making this Verification as Plaintiff is located outside of this jurisdiction and a Verification could not be obtained in the time required for this filing. I Verify that the facts set forth in the within allegations are true and correct to the best of my knowledge, based on information transmitted and provided to me by Plaintiff, knowing that any false statements are punishable by law pursuant to 18 C.S.A. 4904. Michael atchford, Esquir J � r $ )4,525.14 04522219 Loan No, NOTE DISCLOSURE STATEMENT BorTower(s) 1EREA4y SCHULTZ Student Dale: JEREMY SCHULTZ 338 HUMMEL AYE LEMOYNE , PA 17043 USA JEREMY SCHULTZ N0ygmher 29 2006 Lender Nome and Addle= CHARTER ONF BANK N A_ 725 CANTON STREET NORW00D, MA 02062 This thsdosore sI0Ita ant relates to your Loan Note disbursed on November 29, 2006 0c an.se your Loan is either being disbursed or mains repayment. or tlto repayment terms aur: being modified. the following informmion about your Loan is being riven loyou. ANNUAL PERCENTAGE RATE The: cost of yaw credo m a yearly Ale. 12.279 % FINANCE CHARGE The doaar armour the credit win costyaa. 5 31 500.80 Amount Financed The 'mount of nadir provided at you or on ywrbehalf. $ 13000.00 Taal of Payments The amount you will lava paid after you ban made ellpaymars scheduled. $ 44.500.80 Your payment schedule will he: Numhm of Paymevs Anrouo of Puyoents When Payments am due 240 S 185.42 On the 20th day of each month beginning 12/2008 VARIABLE RATE: The Anneal Percentage Rafe, which is based on an index plus a margin. may increase during the term of the loan if the index rate increases The index is Sited one): Prime Rate Index Adjusted Monthly - The highest U.S. bank prime rate published in rbc "Money Rates" section or The )Yob! Street hymn! (Eastern E21j1j i) on the last business day of exh calendar monde. 0 Prime Rote Index Adjusted Quarterly -71ce highest U.S. bank prime rote published in the 'Money Rats' section of The Waal Slreel loumal lEascerrt FElitiorsl on the hal business day of cath calendar quaver. I UROR index Adjusted Quarterly -The average of ,he ones -month radon Interbank Offered Rates published in the 'Money Rams" section of The Wall Street Journal (Eastern Fditionl on the first business day detach of the three (3) calendar months immediately preceding the first day of each eokndarqunner. [X LIBOR Index AdJ■ded Monthly - The one•mauh London Interhonk Offered Rate published in the 'Money Rata' section of The Wall Street 1ooilal (Eastern Edition) on dm first business day of the preceding calendar month. Any increase in the index and the Annual Pereentnge Rate which neon while principal payments arc deferred will increase the amount of any current and all future payments. Any increase in the lodes and the Annual Percentage Rate which occurs while principal and interest payments are &fated 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 loan will increase the amount of your future principal and interest payments beginning with your next annual payment adjustment date. For example, assume you obtain a loan in your junior year, in the amount of 6(0,030, at an interest net of 11%, and you defer principal and interest payments until after your graduation. and the repayment term ache loan is 20 years. if the interest rate increased to 12% on January bat of your senior year, dire interest which accrues while principal and interest payments arc defemd will increase by 691.91. and your monthly principal and interest payments would increase by 89,37. LATE CHARLES: 1f a payment is mire than 15 days late. you may be charged 15.00 or 5% of the poyrrxn4 whichever is laic If you default, Lender for any subsequent holder of your Loan Note) may increase the margin used to compute the Annual Percentage Rate by two petoentage points (2%). PREPAYMENT: If you pay Wendy, you will not have to pay a penally. Esfinnile6 AMI oumorical disclosures except ft late payment disclosure are estimates. See your contract documents for any additional informal' nn about non-payment, defaa 1, any required repayment in fun before rho scbedokd dote, any security interest and prepayment refunds and penalties. . Principal Amann of Note (Amount Financed plus Prepaid Finance Charge) lterniaa ion or Ammon Financed Amount paid to JEREMY SCHULTZ Amount paid to Total Amount Financed Inrnixmioo of Prepaid Firwaree Charge Origintw Fee Total Prepaid Finance LTmgefs) CS, tent awe vers SZ S 13.000.00 S 1525.14 f 14525.14 f 13,000.00 S 1 525.14 A VJUDP Astrive Education Loan File Copy From: 717 5451129 Page: 3/3 Date: 11/22/2006 6:46:45 AM * OvenlweAhy Medoff«Leen RequestitheatAvows* Pico — 110,1-NEGOTABLECRS)fiAG va—VMSlSACONSUMERCREp1TTRANSACTION Astrive Education Loan Academie Period: 0412006-1212008 Lender; Charter One Se* NA. School; PENNSYLVANIA STATE UNIVERSITY Loan Amount Requested: $23000.00 Repayment O rtiarr FuC Deferral Deferral Period Mlalghr. S.es Repayment Period Vaught SAS Loan Origina5on Fee Petoerdage:10.50 td ell tl4l lit. Borrows:Nam Jarmo/ ness.atz Home Address: 339 Hummel Ave Lemoyne. PA 171343 Socia Security* .1 Date of Satlt Home Tetepllona: (71 877-7477 Csa and t3rrployar. 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FOR BI I7C1S-NOTICEYOCUSTOAUX (a) DO NOT SIGN T=main* AGMBirriT1rNM= YOU i'SAD'IILLI'WRITINC arms MUM= PAC1;$, MN 07BLEWOL ADMIX DO DO NW t11GN1813 [.7t>mlLt AGLtMIUNT O ti corium ANYtd .ANKS1 AM (c) YOU ADE or l= AT4 IXACT CCTV OFANY AGILICAXNT YOU MG? (d) YOU RAW= =WAY ANY TOM TODAYNAWVANCZT111MAW BALANCGi MA rens clazin' AGMAMT AND YOU MAY BS ENITIUNI TO A PAAVALRV UM OdrTOE IKNANCEMARGE. a . _..7 ..... * �.�D1 air! :'Ii�r... � "1.T 1�... ...... „ •:.7"3.::.77.77;771;, , .-!1MITE i D h/Uov, a1 aceta N tV in this Credit Agreement, the words "I', 'me", 'my", and 'mune" mean the person who signed this Credit Agreement as Borrower. The words 'you', 'your', yours', and 'Lender' mean Charter One Bank, N.A., its successors and assigns, and any other holder of this Credit Agreement 'School' means the school named at the top of the first page of this Credit Agreement The 'servicer' means the Lender or any entity it designates to service my loan. A. PROMISE TO PAY: I promise to pay to you the principal sum of the Loan Amount Requested shown on the first page of this Credit Agreement, to the extent it is advanced to me or paid on my behalf, and any Loan Origination Fee added to my loan (see Paragraph F) (together, the 'Principal Sum'), interest on such Principal Sum, interest on any unpaid interest added to the Principal Sum and late fees (see Paragraph E.6). B. IMPORTANT- READ THIS CAREFULLY: 1. When you receive my signed Credit Agreement, you are not agreeing to lend me money. If you decide to make a loan to me, you will electronically transfer the loan funds to the School for me, mail a loan check to the School for me, or mad a loan check directly to me. You have the right to not make a loan or to lend an amount less than the Loan Amount Requested. I agree to accept an amount less than the Loan Amount Requested and to repay that portion of the Loan Amount Requested that you actually lend to me along with interest and all other amounts I owe (see Paragraph A). You have the right to disburse my loan through en agent. At your option, you may also make any loan check co -payable to me and the School. 2. HOW I AGREE TO THE TERMS OF THIS LOAN. By signing this Credit Agreement, and submitting it to the Lender, I am requesting that you make this loan to me in an amount equal to the Loan Amount Requested plus any Loan Origination Fee described in Paragraph F of this Credit Agreement If you approve this request and agree to make this loan, you will notify me in writing and provide me with a Disclosure Statement, as required by law, at the time the loan proceeds are disbursed. The Disclosure Statement is incorporated herein by reference and made a part hereof. The Disclosure Statement will tell me the amount of the loan which you have approved, the amount of the Loan Origination Fee, and other important information. I wit let you know that I agree to the terms of the loan as set forth in this Credit Agreement and in the Disclosure Statement by doing either of the following: (a) endorsing or depositing the check that disburses the loan proceeds; or (b) using the loan proceeds or allowing the loan proceeds to be used on my behalf without objection. Upon receipt of the Disclosure Statement, I will review the Disclosure Statement and notify you in writing if I have any questions. H I am not satisfied with the terms of my loan as disclosed in the Disclosure Statement, I may cancel my loan. To cancel my loan, I will give you a written cancellation notice within ten (10) days after I receive the Disclosure Statement If loan proceeds have been disbursed, I agree that I will immediately return the loan proceeds to you, will not endorse any check which disburses the loan proceeds and will instruct the School to return any loan proceeds to you. If I give notice of cancellation but do not comply with the requirements of this Paragraph B.2, this Credit Agreement will not be canceled and I will be in default of this Credit Agreement (See Paragraph I.) C. DEFINITIONS: 1. 'Disbursement Date' means the date or dates on which you lend money tome in consideration for my Credit Agreement and will be the date(s) shown on any loan check you prepare or the date(s) you initiate any electronic funds transfer. 2. The 'Deferment Period' will begin on the Disbursement Date and end on the Deferment End Date. 3. 'Deferment End Date" means the dale specified below for the applicable loan program (the applicable loan program is stated on the first page of this Credit Agreement). (a) Undergraduate Alternative Loan Program: If I have elected the "Immediate Repayment' option (the applicable repayment option is stated on the first page of this Credit Agreement), there is no Deferment Period, and my first payment will be 30-60 days after the disbursement of my loan. If I have elected the "Interest Only" repayment option (the applicable repayment option is stated on the first page of this Credit Agreement), then interest payments will begin 30-60 days after the disbursement of my loan, the 'Deferment End Date' will be the date the Student first graduates or ceases lobe enrolled at least half-time in the School (or another school participating in this loan program, and principal and interest payment will begin 30-69 days after that date. In any event, if I have elected the "Interest Only' repayment option, the Deferment End Date will be no mom than 5 years after the Disbursement Date. If I have elected the 'Full Deferrer repayment option (the applicable repayment option is stated on the first page of this Credit Agreement), then the 'Deferment End Date' will be 180 days after the date the Student first graduates or ceases to be enrolled at least half-time in the School (or another school participating in this Loan Program). In any event, if I have elected the 'Full Deferral' repayment option, the Deferment End Date will be no more than 5i4 years after the Disbursement Date. For borrowers who chose the 'Interest Only' or 'Full Deferral" repayment options, joint and serial (associates to bachelors) degree recipients may continue in -school deferment while completing the second degree, up to the 5 -year or 5 Yr year maximum. (b) Graduate Professional Education Loan Program: The Deferment End Date will be 180 days after the Student graduates or ceases for any other reason to be enrolled at least half-time in the School (or another school participating in this Loan Program), but no more than 4''h years after the Disbursement Date: provided, however, that if the Student begins a medical residency or internship during the Deferment Period, then Iw047779a.r1AB.06-07.CRWO.10DC.0206 2 of 4 the Deferment Period wit end 180 days after the day the residency or internship ends, but no more than 8Y, years after the Disbursement Date. 4. The 'Repayment Period" begins the day after the Deferment Period ends. If there is no Deferment Period for my loan, the Repayment Period will begin when my loan is fully disbursed. The Repayment Period is 20 years unless monthly payments equal to the minimum monthly payment amount (See Paragraph 5.2) will repay all amounts owed in less than 20 years, in which case the Repayment Period will be the number of months necessary to pay in full the amount I owe at the minimum payment D. INTEREST: 1. Accrual - Beginning on the Disbursement Date, interest will be calculated at the Variable Rate (Paragraph D2) and charged on the Principal Sum, and on any unpaid interest later added to the Principal Sum according to Paragraph D.3. During the Repayment Period, interest will be calculated at the Variable Rate and charged on the outstanding balance of this Credit Agreement until all amounts are paid in full. Interest wit be calculated on a daily simple interest basis. The daily interest rate will be equal to the annual interest rate in effect on that day, divided by the number of days in that calendar year. 2. Variable Rate - The 'Variable Rate' is equal to the Current Index plus a Margin. The Margins for both the Deferent Period and the Repayment Period are shown on the first page of this Credit Agreement. In no event will the Variable Rate exceed the maximum interest rate allowed by the laws of the Stale of Ohio. The Variable Rate wit change monthly an the first day of each calendar month (the 'Change Date(s)") if the Current Index changes. The 'Current Index" for any calendar month (or for any shorter period beginning on the Disbursement Date and ending on the last day of a calendar month) is based on the one-month London Interbank Offered Rate ("LIBOR") as published in the 'Money Rates' section of The Wall Street Journal (Eastern Edition). The index for each calendar month (or for any shorter period beginning on a Disbursement Date and ending on the last day of a calendar month) wit equal the LIBOR rale published on the first business day of the immediately preceding calendar month, rounded to the nearest one-hundredth of one percent (0.01%). if The Wall Street Journal (Eastern Edition) is not published or the Current Index is not given on that date, then the Current Index will be determined by using the immediately preceding published Current Index. If the Current Index is no longer available, you will choose a comparable index. 3. Capitalization — If l have elected the 'Full Deferrer repayment option (the applicable repayment option is stated on the first page of this Credit Agreement), I am not obligated to make any payments until the loan enters the Repayment Period and you will add unpaid accrued interest to the principal loan balance as of the last day of each calendar quarter (the last day of December, March, June and September) during the Deferment Period and as of the last day of my Deferment Period. Interest that is added to principal is called 'Capitalized" interest. Capitalized interest will be treated as principal. In addition, if lam in default (see Paragraph I) and the loan has been sold to TERI (see Paragraph L.11), TERI may capitalize accrued and unpaid interest as of the date it purchases my loan. I understand that you wit also add all accrued and unpaid interest to the principal balance of my loan at the end of any forbearance period (see Paragraph H). In all cases, the sum of interest you capitalize plus the then - outstanding principal balance is thereafter considered the principal balance, and interest will accrue on the new principal balance. E. TERMS OF REPAYMENT: 1. Deferment Period - If I have elected ether the 'Interest Only" repayment option or the 'Full Deferral" repayment option (the applicable repayment option is stated on the first page of this Credit Agreement), you will send me statements during the Deferment Period (showing the total outstanding principal balance of my loan and the interest that has accrued on my loan). Statements will be sent to the address shown on your records. If I have elected the "Interest Only" repayment option, l agree to make payments each month during the Deferment Period equal to the accrued interest on the outstanding balance of this Credit Agreement. If I have elected the "Fut Deferral - repayment option I may. but am not required to make payments during the Determent Period. You will add any interest that Ido not pay during the Deferment Period to the principal balance, as described in Paragraph D.3. 2. Repayment Period - The amount of my monthly payment ("Monthly Payment Amount") will be established based on the rules in this Credit Agreement when my Repayment Period begins. During the Repayment Period, you wit send me monthly statements that show the Monthly Payment Amount and the payment due dates, and I will pay the Monthly Payment Amount shown on my monthly statement, width amount will in no event be less than $25 or the unpaid balance, whichever is less. I understand that the Monthly Payment Amount is due each month. I may pay more than my Monthly Payment Amount at any time without penalty or charge. If my loan is in paid - ahead status, I may, but will not be required to make monthly payments. Even if I do not receive monthly statements, f will make consecutive monthly payments in amounts at least equal to the Monthly Payment Amount by the applicable payment due dates anti I have paid al of the principal and interest and any other charges I may owe under this Credit Agreement 3. Repayment Terms • My Monthly Payment Amount will be calculated as of the day the Repayment Period begins ('Repayment Date"). It will be recalculated (a) once each year prior to the anniversary of the Repayment Date, (b) if the Variable Rate changes between anniversaries of the Repayment Date to the extent that the Monthly Payment Amount would not pay in full the accrued monthly interest on my loan, (c) following any subsequent deferment or forbearance period or (d) following any request 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 Payment Amountwil be recalculated. My new Monthly Payment Amount will be disclosed to me by the servicer. The new Monthly Payment Amount will equal the amount necessary to pay in full, over the number of months remaining in the Repayment Period, the amount I owe in equal monthly installments of principal and interest at The Variable Rate in effect at the lime of the calculation. I understand that this may result in a reduction or increase in my monthly payment as calculated as of each Repayment Date. I understand that during the Repayment Period (and. if I have elected the 'Interest Ont repayment option, during the period of interest payments) 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 coordinate the due dates of all of my loans processed by the servicer. 4. Amounts Owing at the End of the Repayment Period — Since interest accrues daily upon the unpaid principal balance of my loan, if I make payments after my payment due dates,, -I may owe additional interest. ff 1 have not paid my late fees, I will also owe additional amounts for those late fees. In such cases you will increase the amount of my last monthly payment to the amount necessary to repay my loan in full. 5. Payments — Payments will be applied first to late fees, other fees and charges, accrued interest, and the remainder to principal. 6. Other Charges - If any part of a monthly payment remains unpaid for a period of more than 15 days after the payment due date, I wil pay a late fee not exceeding $5.00 or 5%of the overdue payment amount, whichever is less. To the extent permitted by law, I agree to pay you all amounts you incur in enforcing the terms of this Credit Agreement, including reasonable collection agency and attorneys' fees and court costs and other collection costs. F. LOAN ORIGINATION FEE: If you charge me, I will pay you a Loan Origination Fee at the time my loan is disbursed. The dollar amount of any Loan Origination Fee wit be determined by multiplying the Principal Sum times the Loan Origination Fee Percentage shown on the first page of this Credit Agreement. The percentage would be higher if computed only on the amount advanced rather than on the entire Principal Sum (Loan Origination Fee plus the loan amount advanced), For example, a nominal Loan Origination Fee of 6.5% on the entire principal amount would equal 6.9519%of the amount advanced. The Loan Origination Fee I will pay, if any, will be shown on my Disclosure Statement and included with the Principal Sum. To the extent permitted by law, and unless I timely cancel this Credit Agreement (see Paragraph 8.2), I will not be entitled to a refund of any Loan Origination Fee after my loan has been disbursed. G. RIGHT TO PREPAY: I have the right to prepay al or any part of my loan at any time without penalty. H. FORBEARANCE: If I am unable to repay my loan in accordance with the terms established under this Credit Agreement because of a hardship such as financial or medical difficulty, I may request that you modify these terms. I understand that such modification would beat your option, and, to the extent not prohibited by applicable law, you may charge me a fee equal to two percent 2% of the outstanding principal balance if you agree to modify the terms of this Credit Agreement 1 understand that I will remain responsible for alt interest accruing during any period of forbearance and that you will add any 2% fee described in the previous sentence and all interest that I do not pay during any forbearance period to the principal balance, as described in Paragraph 0.3. I. WHOLE LOAN DUE: To the extent permitted by applicable law, I will be in default and you have the right to give me notice that the whole outstanding principal balance, accrued interest, and all other amounts payable to you under the terms of this Credit Agreement, are due and payable at once (subject to any applicable law which may give me a right to cure my default) if: (1) I fail to make any monthly payment to you when due, (2) I die, (3)1 break any of my other promises in this Credit Agreement, (4) any bankruptcy proceeding is begun by or against me, or I assign any of my assets for the benefit at my creditors, or (5) I make any false written statement in applying for this loan or any other loan or at any time during the Deferment or Repayment Periods. If I default, I will be required to pay interest on this loan accruing atter default. The interest rate after default will be subject to adjustment in the same manner as before default. Upon default, you may also capitalize any interest and fees (i.e., add accrued and unpaid interest and fees to the principal balance), and increase the Margin used to compute the Variable Rate by two percentage points (2%). J. NOTICES: 1. I will send written notice to you, any subsequent holder of this Credit Agreement, and the servicer within ten days after any change in name, address, or enrollment status (for example, if the Borrower withdraws from the School or transfers to another school participating in this loan program). 2. Any notice required to be given to me by you wit be effective when mailed by first class mail 10 the latest address you have for me. K. INFORMATION: 1. I must update the information I provided to you whenever you ask me to do so. 2. I authorize you from time to time to request and receive from others credit related information about me (and about my spouse if I live in a community property state). 3. CREDIT BUREAU REPORTING You may report information about my account to credit bureaus. Late payments, missed payments, or other defaults in my account may be reflected in my credit report. (woirrns uiAB.06-07.CRW0.10DC.0206 3 of 4 I understand that the reporting of information about my account to credit bureaus may adversely affect my credit rating and my ability to obtain other credit You may also provide the School with certain personally -identifiable information about me (such as my Social Security Number and my Loan ID number) and report the status of my loan and my payment history, including information about a late payment, missed payment or other defaults, to the School and others in accordance with applicable law. L ADDITIONAL AGREEMENTS: 1. I understand that you are located in Ohio and that this Credit Agreement wit be entered into in the same state. CONSEQUENTLY, THE PROVISIONS OF THIS CREDIT AGREEMENT WILL BE GOVERNED BY FEDERAL LAW AND THE LAWS OF THE STATE OF OHIO, WITHOUT REGARD TO CONFLICT OF LAW RULES. 2. The proceeds of this loan will be used only for my educational expenses at the School. 3. My responsibility for paying the loan evidenced by this Credit Agreement is unaffected by the liability of any other person to me or by your failure to notify me that a required payment has not been made. Without losing any of your rights under this Credit Agreement you may accept (a) late payments, (b) partial payments or (c) payments marked "paid in full" or with other restrictions. You may delay, fail to exercise, or waive any of your rights on any occasion without losing your entitlement to exercise the right at any future time, or on army future occasion. You will not be obligated to make any demand upon me, send me any notice, present this Credit Agreement tome for payment or make protest of non-payment to me before suing to collect on this Credit Agreement if I urn in default, and to the extent permitted by applicable law, I hereby waive any right I might otherwise have to require such actions. I WILL NOT SEND YOU PAYMENTS MARKED 'PAID IN FULL', "WITHOUT RECOURSE' OR WITH OTHER SIMILAR LANGUAGE UNLESS THOSE PAYMENTS ARE MARKED FOR SPECIAL HANDLING AND SENT TO THE ADDRESS IDENTIFIED FOR SUCH PAYMENTS ON MY BILLING STATEMENT, OR TO SUCH OTHER ADDRESS AS I MAY BE GIVEN IN THE FUTURE. 4. 1 may not assign this Credit Agreement or any of its benefits or obligations. You may assign this Credit Agreement at any time. 5. The terms and conditions set forth in this Credit Agreement and the Disclosure Statement constitute the entire agreement between you and me. 6. If any provision of this Credit Agreement is held invalid or unenforceable, that provision shall be considered omitted from this Credit Agreement without affecting the validity or enforceability of the remainder of this Credit Agreement 7. A provision of this Credit Agreement may only be modified ifjointly agreed upon in writing by you and me. Any modification will not affect the validity or enforceability of the remainder of this Credit Agreement. 8. To the extent permitted by law, you have the right to apply money from any of my deposit account(s) with you to pay all or a portion of any amount overdue under this Credit Agreement I hereby authorize you to obtain from the School all amounts which may be owed tome by the School, induding any refund due to overpayment, early termination of enrollment, or otherwise. 9. All dollar amounts stated in this Credit Agreement are in United States dollars. t will make all payments in United States Dollars with no deduction for currency exchange, 10. If I fail to complete the education program paid for with this loan, I am not relieved of any obligation within or pursuant to this Credit Agreement. 11. I understand and agree that this loan is an education loan and certify that it will be used only for costs of attendance at the School. I acknowledge that the requested loan is subject to the limitations on dischargeability in bankruptcy contained in Section 523 (a) (8) of the United States Bankruptcy Code because either or both of the following apply: (a) this loan was made pursuant to a program funded in whole or in part by The Education Resources Institute, Inc. ("TERI"), a non-profit institution, or Oil this is a qualified education loan as defined in the Internal Revenue Code. This means that if, in the event of bankruptcy, my other debts am discharged, I will probably still have to pay this loan in full. 12. I authorize any school that I may attend to release to you, and any other persons designated by you, any requested information pertinent to this loan (e.g., enrollment status, prior loan history, and current address). 13. I authorize the Lender, any subsequent holder of this Credit Agreement, and their agents to: (1) advise the School of the status of my application and my loan, (2) respond to inquiries from prior or subsequent lenders or holders with respect to my Credit Agreement and related documents, (3) release information and make inquiries to the persons I have given you as references, for the purposes of teaming my current 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, either in connection with this transaction or any future transaction all information (inckuding status information and non -pubic personal information) of the Borrower provided in connection with this Credit Agreement If in the future I apply for a loan that is guaranteed by TERI and 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 the muse of such information by such new lender and TERI in my new application. 14. Waiver by Lender. You waive (give up) any right to claim a security interest in any property to secure this Credit Agreement This does not affect any right to offset as a matter of law. 15. If I fax my signature(s) on the first page of this Credit Agreement back to you and keep the copy I signed, I understand that under federal law the fax you receive will be an original of the first page of this Credit Agreement You and I agree that all copies of this Credit Agreement (including the fax you receive and the copy I retain), taken together, shall constitute a single original agreement 15. If I elect to sign electronically an electronic record of this Credit Agreement, then the following will apply as between Lender and me: (a) Lender will keep a non - modifiable electronic record of this document and provide a copy to me upon request, (b) f can and have downloaded and/or printed a copy of this document for my records or notified the Lender to mai me a copy of this document, and (c) the Lender's electronic record of this document and any printout from that record shall be an original for all purposes, including any lawsuit to collect amounts that I owe. M. DISCLOSURE NOTICES ALL APPLICANTS: IMPORTANT FEDERAL LAW NOTICE— Important information about procedures for opening a new account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents. CALIFORNIA RESIDENTS: I have the right to prohibit the use of information contained in my credit fie in connection with transactions not initiated by me. I may exercise this right by notifying the consumer credit reporting agency. A married applicant may apply for a separate account If you take any adverse action as defined by Section 1785.3 of the California Civil Code and the adverse action is based, in whole or in part, on any information contained in a consumer credit report, I have the right to obtain within 60 days a free copy of my consumer credit report from the consumer reporting agency 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 basis. I have the right as described by Section 1785.16 of the California Civi Code to dispute the accuracy or completeness of any information in a consumer audit report (writhed by the consumer credit reporting agency. CALIFORNIA AND UTAH RESIDENTS: As required by California and Utah law, I am hereby notified that a negative credit report reflecting on my credit record maybe submitted to a credit repotting agency if I fail to fulfill the terms of my credit obligations. IOWA, KANSAS, AND NEBRASKA RESIDENTS (For pj pr uses of the following notice, the word "you" refers to the Borrower, not the Lender): NOTICE TO CONSUMER. This is a consumer credit transaction. 1. DO NOT SIGN THIS CREDIT AGREEMENT BEFORE YOU READ THIS CREDIT AGREEMENT. 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 A REFUND OF UNEARNED CHARGES 1N ACCORDANCE WITH LAW. J'ARYLAND RESIDENTS: In Paragraph L.1, Lender and I Tuve 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 Tile 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 to forbear from enforcing repayment of a debt including promises to extend or renew such debt are not enforceable. To protect me (borrower(s)) and you (creditor) from misunderstanding or disappointment, any agreements we reach covering such matters are contained in this writing, which is the complete and exclusive statement of the agreement between us, except as we may later agree in writing to modify it NEVADA RESIDENTS: This is a loan for study. NEW JERSEY RESIDENTS: The section headings of this Credit Agreement are a table of contents and not contract terms. Portions of this Credit Agreement with references to actions taken to the extent of applicable law appy to ads or practices that New Jersey law permits or requires. In this Credit Agreement, acts or practices (i) by you which are or may be permitted by 'applicable law' are permitted by New Jersey twar re.t1AB.06-07.CRWO.10DC.0206 4 of 4 law, and (ii) that may or will be taken by you unless prohibited by 'applicable law' are permitted by New Jersey law. NEW YORK, RHODE ISLAND AND VERMONT RESIDENTS: A consumer report (credit report) may be obtained from a consumer-reporling agency (credit bureau) in connection with this loan. If I request (1) I will be informed whether or not consumer reports were obtained, and (2) if reports were obtained, I will be informed of the nacres and addresses of the credit bureaus that furnished the reports. If you agree to make this loan to me, a consumer credit report may be requested or used in connection with renewals or extensions of any credit for which I have applied, reviewing my loan, taking collection action on my loan, or legitimate purposes associated with my loan. OHIO RESIDENTS: The Ohio laws against discrimination require that all creditors make credit equally available to all credit worthy customers, and That credit reporting agencies maintain separate credit histories on each individual upon request. The Ohio Civil Rights Commission administers compliance with this law. WISCONSIN RESIDENTS: For married Wisconsin residents, my signature on this Credit Agreement confirms 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 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 that the loan is approved, is furnished with a copy of the agreement, statement, or decree or has actual knowledge of the adverse provision when the obligation to the Lender is incurred. If the loan for which I am applying is granted, my spouse will also receive notification that credit has been extended to me. N. BORROWER'S CERTIFICATION: I declare under penalty of perjury under the laws of the United Stales of Americo that the following is We and correct. I certify that all information I provided to you in connection with this ban, including without limitation, the information contained in this Credit Agreement, is true, complete and correct to the best of my knowledge and belief and is made in good faith. I understand that I are 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 Loan, a Federal Stafford Loan, a Federally Insured Student Loan, a Federal Supplemental Loan for Students (SLS), a Federal PLUS Loan, an Income Contingent Loan, a Federal Consolidation Loan, a Federal Ford Direct Loan, or any other education loan received for attendance at any school. The legal age for entering into contracts is 18 years of age in every State in the United States except the following: Alabama and Nebraska (19 years old), and Nfississippi and Puerto Rico (21 years old). I certify that I meet these state age requirements. XHIBIT B Exhibit 99.20 Page 1 of 4 EX -99 17 national-ex9920 031107.htm EXHIBIT 99.20 EXHIBIT 99.20 2007-1 POOL SUPPLEMENT 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 ("FMC") and Charter One Bank, N.A. (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 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 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 The National Collegiate Student Loan Trust 2007-1 (the "Tmsf'). 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 IhRI (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 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: (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 http:l/`vww.sec. aov/,Archives/edgar/data/13 89749/000089968107000230/national-ea 9920 ... 9/28/2011 Exhibit 99.20 Page 2 of 4 relevant times, and has, the power, authority and legal right to acquire and own the Transferred 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 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 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 likely to materially or adversely affect the performance by the Depositor of its obligations under, or the validity or enforceability of 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. 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 arid 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 http://www.sec.gov/ATchives/edaar/datan 389749/000089968107000230/nati o nal -ex 9920__. , 9/28/2011 Exhibit 99.20 Page 3 of 4 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] IN WITNESS WHEREOF, the parties have caused this Supplement to be executed as of the date set forth above. THE FIRST MARBLEHEAD CORPORATION By: Is/ John A. Foxgrover John A. Foxgrover Senior Vice President CHARTER ONE BANK, N.A. By: /s/ Michael McFarlane Michael McFarlane Senior Vice President THE NATIONAL COLLEGIATE FUNDING LLC By: GATE Holdings, Inc., Member Schedule 1 Note Purchase Agreements By: s/ John A. Foxgrover John A. Foxgrover Vice President Note Purchase Agreement dated as of October 31, 2003 by and between FMC and the Program Lender for AES. Note Purchase Agreement dated as of June 30, 2003 by and between FMC and the Program Lender for Citibank. Note Purchase Agreement dated as of July I, 2002 by and between FMC and the Program Lender for CLC. Note Purchase Agreement dated as of September 20, 2003 by and between FMC and the Program Lender for M & I Bank. http://www.sec.gov/Archives/edgar/data/li $9749/000089968I 07000230/national-ex9920 ... 9/28/2011 Exhibit 99.20 Page 4 of 4 Note Purchase Agreement dated as of November 17, 2003 by and between FMC and the Program Lender for National Education. • Note Purchase Agreement dated as of May 15, 2002 by and between FMC and the Program Lender for Nextstudent. • Note Purchase Agreement dated as of September 15, 2003 by and between FMC and the Program Lender for North Texas Higher Education. • Note Purchase Agreement dated as of May 15, 2003 by and between FMC and the Program Lender for Washington Mutual (WAMU). • Note Purchase Agreement dated as of December 29, 2003 by and between FMC and the Program Lender for AAA Southern New England Bank. • Note Purchase Agreement dated as of December I, 2003 by and between FMC and the Program Lender for the Custom Educredit Loan Program. • Note Purchase Agreement dated as of May 10, 2004 by and between FMC and the Program Lender for the Edfinancial Loan Program. • Note Purchase Agreement dated as of March 26. 2004 by and between FMC and the Program Lender for the NextStudent Private Consolidation Loan Program. • Note Purchase Agreement dated as of February 15, 2005 by and between FMC and the Program Lender for the Charter One Referral Loan Program (including loans in the UPromise, Collegiate Solutions, College Board, Axiom Alternative Loan Programs, and Think Financial). • Note Purchase Agreement dated May 15, 2002 by and between FMC and the Program Lender for 11;RI-Guaranteed CFS Loan Program. • Note Purchase Agreement dated May 15, 2002 by and between FMC and the Program Lender for TERI-Guaranteed NextStudent Loan Program. • Note Purchase Agreement dated March 25, 2004 by and between. FMC and the Program Lender for TERI-Guaranteed Astrive and AstriveAlliance Education Loan Program. Schedule 2 [Transferred Loans] http ://www.sec.go v/Arch i ve s/edgar/data/ 13 8 9 749/0 000 8 996810 7000 2 3 0/natio nal - ex9920 ... 9/28/2011 EX -99 7 national-ex995 031107.htm EXHIBIT 99.5 DEPOSIT AND SALE AGREEMENT THE NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1 This DEPOSIT AND SALE AGREEMENT (the "Sale Agreement"), dated as of March 8, 2007, between The National Collegiate Funding LLC, as seller (in such capacity, the "Seller"), and The National Collegiate Student Loan Trust 2007-1, as purchaser (the "Purchaser"), shall be effective upon execution by the parties hereto. WHEREAS, the Seller is the owner of certain student loans; and WHEREAS, the Seller desires to sell its interest in such student loans and the Purchaser desires to purchase such loans from the Seller. NOW, THEREFORE, in connection with the mutual promises contained herein, the parties hereto agree as follows: ARTICLE I TERMS This Sale Agreement sets forth the terms under which the Seller is selling and the Purchaser is purchasing the student loans listed on Schedule 1 or Schedule 2 to each of the Pool Supplements set forth on Schedule A attached hereto (the "Transferred Student Loans"). ARTICLE II DEFINITIONS Capitalized terms used but not otherwise defined herein shall have the definitions set forth in Appendix A of the Indenture dated as of March 1, 2007 between U.S. Bank National Association (the Indenture Trustee") and the Purchaser. ARTICLE III SALE AND PURCHASE Section 3.01. Sale of Loans. The Seller hereby sells and the Purchaser hereby purchases the Transferred Student Loans. Section 3.02. Assignment of Rights. The Seller hereby assigns to the Purchaser and the Purchaser hereby accepts all of the Seller's rights and interests under each of the Pool Supplements listed on Schedule A attached hereto and the related Student Loan Purchase Agreements listed on Schedule B attached hereto. Section 3.03. Settlement of the Paynvnt The Purchaser shall pay the Seller the purchase price set forth in Article 2 of each of the Pool Supplements by wire transfer in immediately available finds to the account specified by the Seller. Section 3.04. Assistance by Seller. Following the execution of this Sale Agreement, the Seller shall provide any reasonable assistance requested by the Purchaser in determining that all required documentation on the Transferred Student Loans is present and correct. ARTICLE IV REPRESENTATIONS, WARRANTIES AND COVENANTS OF SELLER Section 4.01. General. The Seller represents and warrants to the Purchaser that as of the date of this Sale Agreement: (a) The Seller is duly organized and existing under the laws of the State of Delaware; and (b) The Seller has all requisite power and authority to enter into and to perform the terms of this Sale Agreement Section 4.02. Loan Representations. The Seller represents and warrants to the Purchaser that with respect to each Transferred Student Loan purchased by the Purchaser pursuant to this Sale Agreement, the Seller is making the same representations and warranties made by the respective program lender with respect to each Transferred Student Loan pursuant to the respective Student Loan Purchase Agreement listed on Schedule B attached hereto. Section 4.03. Covenants. The Seller, in its capacity as purchaser of the Transferred Student Loans pursuant to the Pool Supplements, hereby covenants that it will enforce the covenants and agreements of each program lender in the respective Student Loan Purchase Agreement and related Pool Supplement The Seller further covenants that it will not waive, amend, modify, supplement or terminate any Student Loan Purchase Agreement or Pool Supplement or any provision thereof without the consent of the Purchaser, which consent the Purchaser hereby agrees not to provide without the prior written consent of the Indenture Trustee and the Interested Noteholders in accordance with the Purchaser's covenant in Section 3.07(c) of the Indenture. ARTICLE V PURCHASE OF LOANS; REIMBURSEMENT Each party to this Sale Agreement shall give notice to the other such parties and to the Servicers, First Marblehead Data Services, Inc., the Indenture Trustee and Wilmington Trust Company (the "Owner Trustee") promptly, in writing, upon the discovery of any breach of the Seller's representations and warranties made pursuant to this Sale Agreement which has a materially adverse effect on the interest of the Purchaser in any Transferred Student Loan. In the event of such a material breach, the Seller shall cure or repurchase the Transferred Student Loan in accordance with the remedies set forth in the respective Student Loan Purchase Agreement ARTICLE VI LIABILITY OF SELLER; INDEMNITIES The Seller shall be liable in accordance herewith only to the extent of the obligations specifically undertaken by the Seller under this Sale Agreement (a) The Seller shall indemnify, defend and hold harmless the Purchaser and the Owner Trustee in its individual capacity and their officers, directors, employees and agents from and against any taxes that may at any time be asserted against any such Person with respect to the transactions contemplated herein and in the other Basic Documents (except any such income taxes arising out of fees paid to the Owner Trustee), including any sales, gross receipts, general corporation, tangible and intangible personal property, privilege or license taxes and costs and expenses in defending against the same. (b) The Seller shall indemnify, defend and hold harmless the Purchaser and the Owner Trustee in its individual capacity and their officers, directors, employees and agents from and against any and all costs, expenses, losses, claims, damages and liabilities arising out o f or imposed upon such Person through, the Seller's willful misfeasance, bad faith or gross negligence in the performance of its duties under this Sale Agreement, or by reason ofreckless disregard of its obligations and duties under this Sale Agreement. Indemnification under this Section shall survive the termination of this Sale Agreement and shall include reasonable fees and expenses of counsel and expenses of litigation. If the Seller shall have made any indemnity payments pursuant to this Section and the Person to or for the benefit of whom such payments are made thereafter shall collect any of such amounts from others, such Person shall promptly repay such amounts to the Seller, without interest. ARTICLE VII MERGER OR CONSOLIDATION OF, OR ASSUMPTION OF TIIE OBLIGATIONS OF, SELLER Any Person (a) into which the Seller may be merged or consolidated, (b) which may result from any merger or consolidation to which the Seller shall be a party or. (c) which may succeed to theproperties and assets of the Seller substantially as a whole, shall be the successor to the Seller without the execution or filing of any document or any further act by any of the parties to this Sale Agreement; provided, however, that the Seller hereby covenants that it will not consummate any of the foregoing transactions except upon satisfaction of the following (i) the surviving Person, if other than the Seller, executes an agreement of assumption to perform every obligation of the Seller under this Sale Agreement, (ii) immediately after giving effect to such transaction, no representation or warranty made pursuant to this Sale Agreement shall have been breached, (iii) the surviving Person, if other than the Seller, shall have delivered an Officers' Certificate and an opinion of counsel each stating that such consolidation, merger or succession and such agreement of assumption comply with this Section and that all conditions precedent, ifany, provided for in this Sale Agreement relating to such transaction have been complied with, and that the Rating Agency Condition shall have been satisfied with respect to such transaction, (iv) if the Seller is not the surviving entity, such transaction will not result in a material adverse federal or state tax consequence to the Purchaser or the Noteholders, and (v) if the Seller is not the surviving entity, the Seller shall have delivered an opinion of counsel either (A) stating that, in the opinion of such counsel, all financing statements and continuation statements and amendments thereto have been executed and filed that are necessary fully to preserve and protect the interest of the Purchaser in the Transferred Student Loans and reciting the details of such filings, or (B) stating that, in the opinion of such counsel, no such action shall be necessary to preserve and protect such interests. ARTICLE VIII LIMITATION ON LIABILITY OF SELLER AND OTHERS The Seller and any director or officer or employee or agent thereof may rely in good faith on the advice of counsel or on any document of any kind, prima facie properly executed and submitted by any Person respecting any matters arising hereunder (provided that such reliance shall not limit in any way the Seller's obligations under this Sale Agreement). The Seller shall not be under any obligation to appear in, prosecute or defend any legal action that shall not be incidental to its obligations under this Sale Agreement or the Student Loan Purchase Agreements, and that in its opinion may involve it in any expense or liability. ARTICLE IX SURVIVAL OF COVENANTS All covenants, agreements, representations and warranties made herein shall survive the consummation of the purchase of the Transferred Student Loans; provided; however, that to the extent any of the same relate to a corresponding covenant, agreement, representation or warranty contained in. a Student Loan Purchase Agreement, the same shall survive to the extent that such corresponding covenant, agreement, representation or warranty survives the applicable Student Loan Purchase Agreement All covenants, agreements, representations and warranties made or furnished pursuant hereto by or for the benefit of the Seller (including without limitation, under Article VI) shall bind and inure to the benefit of any successors or assigns of the Purchaser, including the Indenture Trustee. This Sale Agreement may be changed, modified or discharged, and any rights or obligations hereunder may be waived, only by a written instrument signed by a duly authorized officer of the party against whom enforcement of any such waiver, change, modification or discharge is sought The waiver by the Indenture Trustee, at the direction of the Noteholders or otherwise pursuant to the Indenture, of any covenant, agreement, representation or warranty required to be made or furnished by the Seller or the waiver by the Indenture Trustee, at the direction of the Noteholders or otherwise pursuant to the Indenture, of any provision herein contained shall not be deemed to be a waiver of any breach of any other covenant, agreement, representation, warranty or provision herein contained, nor shall any waiver or any custom or practice which may evolve between the parties in the administration of the terms hereof be construed to lessen the right of the Indenture Trustee, at the direction of the Noteholders pursuant to the Indenture, to insist upon the performance by the Seller in strict accordance with said terms. ARTICLE X COMMUNICATION AND NOTICE REQUIREMENTS All communications, notices and approvals provided for hereunder shall be in writing and mailed or delivered to the Seller or the Purchaser, as the case may be. Notice given in any such communication, mailed to the Seller or the Purchaser by appropriately addressed registered mail, shall be deemed to have been given on the day following the date of such mailing and shall be addressed as follows: If to the Purchaser, to: The National Collegiate Student Loan Trust 2007-1 c/o Wilmington Trust Company, as Owner Trustee Rodney Square North 100 North Market Street Wilmington, Delaware 19890-0001 Attention: Corporate Trust Department If to the Seller, to: The National Collegiate Funding LLC do First Marblehead Data Services, Inc. The Prudential Tower 800 Boylston Street — 34th Floor Boston, MA 02199-8157 Attention: Ms. Rosalyn Bonaventure with a copy to: First Marblehead Corporation The Prudential Tower 800 Boylston Street — 34th Floor Boston, MA 02199-8157 Attention: Corporate Law Department or to such other address as either party shall have provided to the other parties in writing. Any notice required to be in svriting hereunder shall be deemed given if such notice is mailed by certified mail, postage prepaid, or hand delivered to the address of such party as provided above. ARTICLE XI AMENDMENT This Sale Agreement may be amended by the parties hereto without the consent of the Noteholders for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Sale Agreement or of modifying in any manner the rights of such Noteholders; provided that such action will not, in the opinion of counsel reasonably satisfactory to the Indenture Trustee, materially affect the interest of any such Noteholder. In addition, this Sale Agreement may also be amended from time to time by the Seller and the Purchaser, with the consent of the Noteholders of the Notes evidencing a majority of the Outstanding Amount of the Notes and the consent of the Certificateholders of the Certificates evidencing a majority of the percentage interest in the Certificates, for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Sale Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders, respectively, provided, however, that no such amendment shall (a) increase or reduce in any manner the amount of or accelerate or delay the time of, collections of payments with respect to Transferred Student Loans or distributions that shall be required to be made for the benefit of the Noteholders, or (b) reduce the aforesaid percentage of the Outstanding Amount of the Notes or the Certificates, the Noteholders or the Certificateholders of which are required to consent to any such amendment, without the consent of all outstanding Noteholders or Certificateholders, respectively. Promptly after the execution of any such amendment or consent (or, in the case of the Rating Agencies, five Business Days prior thereto), the Purchaser shall furnish written notification of the substance of such amendment or consent to the Indenture Trustee and each of the Rating Agencies. It shall not be necessary for the consent ofNoteholders pursuant to this Section to approve the particular form of any proposed amendment or consent, but it shall be sufficient if such consent shall approve the substance thereof. Prior to the execution of any amendment to this Sale Agreement, the Owner Trustee shall be entitled to receive and rely upon an opinion of counsel stating that execution of such amendment is authorized or permitted by this Sale Agreement The Owner Trustee may, but shall not be obligated to, enter into any such amendment which affects the Owner Trustee's own rights, duties or immunities under this Sale Agreement or otherwise. ARTICLE XII ASSIGNMENT The Seller hereby assigns its entire right, title and interest as purchaser under this Sale Agreement and each Student Loan Purchase Agreement to the Purchaser as of the date hereof and acknowledges that the Purchaser will assign the same, together with the right, title and interest of the Purchaser hereunder, to the Indenture Trustee under the Indenture. ARTICLE XIII GOVERNING LAW THIS SALE AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, INCLUDING SECTIONS 5- 1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, BUT OTHERWISE WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. ARTICLE XIV LIMITATION OF LIABILITY OF OWNER TRUSTEE Notwithstanding anything contained herein to the contrary, this instrument has been executed by Wilmington Trust Company, not in its individual capacity but solely in its capacity as Owner Trustee of the Purchaser, and in no event shall Wilmington Trust Company in its individual capacity or any beneficial owner of the Purchaser have any liability for the representations, warranties, covenants, agreements or other obligations of the Purchaser hereunder, as to all of which recourse shall be had solely to the assets of the Purchaser. For all purposes of this Sale Agreement, in the performance of any duties or obligations of the Purchaser hereunder, the Owner Trustee shall be subject to, and entitled to the benefits of the terms and provisions of Articles VIII, IX and X of the Trust Agreement. [Signature Pages Follow] IN WITNESS WHEREOF, the parties hereto have caused this Sale Agreement to be duly executed by their respective officers hereunto duly authorized, as of the day and year first above written. THE NATIONAL COLLEGIA 1 E FUNDING LLC, as Seller By: GA 1'h Holdings, Inc., Member By: /s/ John A. Foxgrover Name: John A. Foxgrover Title: Vice President THE NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1, as Purchaser By: Wilmington Trust Company, not in its individual capacity but solely as Owner Trustee By: /s/ Donald G. MacKelcan Name: Donald G. MacKelcan Title: Senior Vice President SCHEDULE A Pool Supplements Each of the following Pool Supplements was entered into by and among The First Marblehead Corporation, The National Collegiate Funding LLC and: Bank of America, N.A_, dated March 8, 2007, for loans that were originated under Bank of America's BAGEL Loan Program, TERI School Channel Loan Program, Direct to Consumer Loan Program and ISLP Loan Program. Charter One Bank, N.A., dated March 8, 2007, for loans that were originated under the following Charter One programs: AAA Southern. New England Bank, AES EducationGAIN Loan Program, Astrive Education Loan Program, AstriveAlliance Education Loan Program, Axiom Alternative Loan Program, CFS Direct to Consumer Loan Program, Citibank Education Assistance Loan Program, College Board Alternative Loan Program College Loan Corporation Loan Program, Collegiate Solutions Alternative Loan Program, Custom Educredit Loan Program, EdFinancial Loan Program, Extra Credit II Loan Program (North Texas Higher Education), M&I Alternative Loan Program, National Education Loan Program, NextStudent Alternative Loan Program, ThinkFinancial Alternative Loan Program, and UPromise Alternative Loan Program, and WAMU Alternative Student Loan Program • Citi7Pns Bank of Rhode Island, dated March 8, 2007, for loans that were originated under Citizens Bank of Rhode Island's Alternative Loan Program, ISLP Loan Program, Compass Bank Loan Program, Navy Federal Alternative Loan Program, Penn State Undergraduate Loan Program, FinanSure Alternative Loan Program, and Xanthus Alternative Loan Program. • Comerica Bank, dated March 8, 2007, for loans that were originated under Comerica Bank's Private Loan Program. • First National Bank Northeast, dated March 8, 2007, for loans that were originated under First National Bank Northeast's Nelnet Alternative Loan Program. • HSBC Bank USA, National Association, dated March 8, 2007, for loans that were originated under the HSBC Loan Program. • The Huntington National Bank, dated March 8, 2007, for loans that were originated under The Huntington National Bank's Huntington Bank Education Loan Program. • InsurBanc, dated March 8, 2007, for loans that were originated under the InsurBanc Loan Program. • JPMorgan Chase Bank, N.A. (successor to Bank One, N.A.) dated March 8, 2007, for loans that were originated under Bank One's CORPORATE ADVANTAGE Loan Program, EDUCATION ONE Loan Program, and Campus One Loan Program. • KeyBank National Association, dated March 8, 2007, for loans that were originated under KeyBank's Private Education Loan Program. • Manufacturers and Traders Trust Company, dated March 8, 2007, for loans that were originated under Manufacturers and Traders Trust Company's M&T Alternative Loan Program. • National City.Bank, dated March 8, 2007, for loans that were originated under National City Bank's Alternative Loan Program. • National City Bank, dated March 8, 2007, for loans that were originated under National City Bank's Referral Loan Program, including the Astute Private Loan Program. • PNC Bank, N.A., dated March 8, 2007, for loans that were originated under PNC Bank's PNC Bank Alternative Loan Program, Brazos Alternative Loan Program, Edvisors Alternative Loan Program, GE Money Bank Alternative Loan Program, Old National Bank Alternative Loan Program, and Regions Bank Alternative Loan Program. • Sovereign Bank, dated March 8, 2007, for loans that were originated under Sovereign Bank's Alternative Loan Program. • SunTrust Bank, dated March 8, 2007, for loans that were originated under SunTrust Bank's SunTrust Alternative Loan Program • TCF National Bank, dated March 8, 2007, for loans that were originated under TCF National Bank's Alternative Loan Program. • U.S. Bank National Association, dated March 8, 2007, for loans that were originated under U.S Bank's Alternative Loan Program. SCHEDULE B Note Purchase Agreements Each of the Note Purchase Agreements, as amended or supplemented, was entered into by and between The First Marblehead Corporation and: • Bank of America, N.A:, dated April 30, 2001, for loans that were originated under Bank of America's BAGEL Loan Program, 1 FRI School Channel Loan Program and ISLP Loan Program • Bank of America, N.A., dated June 30, 2006, for loans that were originated under Bank of America's BAGEL Loan Program, TERI School Channel Loan Program and ISLP Loan Program. • Bank of America, N.A., dated April 1, 2006, for loans that were originated under Bank of America's Direct to Consumer Loan Program. • 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. • Charter One Bank, N.A., dated October 31, 2003, for loans that were originated under Charter One's AES EducationGAIN Loan Program • Charter One Bank, N.A., dated May 15, 2002, for loans that were originated under Charter One's CFS Direct to Consumer 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 December 1, 2003, for loans that were originated under Charter One's Custom Educredit Loan Program. • Charter One Bank, N.A., dated May 10, 2004, for loans that were originated under Charter One's FrlFinancial 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 Ioans 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_ • Charter One Bank, N.A., dated March 25, 2004, for loans that were originated under Charter One's Astrive and AstriveAlliance Education Loan Programs. • Charter One Bank, N.A., dated May 15, 2003, for loans that were originated under Charter One's WAMU Alternative Student Loan Program. • 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 UPromise Alternative Loan Program, Collegiate Solutions Alternative Loan Program, College Board Alternative Loan Program, Axiom Alternative Loan Program, and ThinkFinancial Alternative Loan Program). • Citizens Bank of Rhode Island, dated April 30, 2004, for loans that were originated under Citizens Bank of Rhode Island's Alternative Loan Program, ISLP Loan Program, Compass Bank Alternative Loan Program, FinanSure Alternative Loan Program, Navy Federal Alternative Loan Program, and Xanthus Alternative Loan Program. • Citizens Bank of Rhode Island, dated October 1, 2002, for loans that were originated under Citizens Bank of Rhode Island's Penn State Undergraduate Loan Program_ • Comerica Bank, dated June 30, 2006, for loans that were originated under Comerica Bank's Private Loan Program. • First National Bank Northeast, dated August 1, 2001, for loans that were originated under First National Bank Northeast's Nehxt Undergraduate Alternative Loan Program. • HSBC Bank USA, National Association, dated April 17, 2002, as amended on June 2, 2003 and August 1, 2003, for loans that were originated under the HSBC Loan Program. • The Huntington National Bank, dated May 20, 2003, for loans that were originated under The Huntington National Bank's Huntington Bank Education Loan Program. • InsurBanc, dated July 1, 2006, for loans that were originated under the InsurBanc Loan Program. • JPMorgan Chase Bank, N.A. (successor to Bank One, NA), dated May 1, 2002, for loans that were originated under Bank One's CORPORA 1'E ADVANTAGE Loan Program, EDUCATION ONE Loan Program, and Campus One LoanProg • KeyBank National Association, dated May 12, 2006, for loans that were originated under KeyBank's Private Education Loan Program • Maniifacturers and Traders Trust Company, dated April 29, 2004, for loans that were originated under Manufacturers and Traders Trust Company's Alternative Loan Program. National City Bank, dated November 13, 2002, for loans that were originated under National City Bank's National City Alternative Loan Program. National City Bank, dated July 21, 2006, for loans that were originated under National City Bank's Referral Loan Program, including the Astute Private Loan Program. PNC Bank, N.A., dated April 22, 2004, for loans that were originated under PNC Bank's Alternative Conforming Loan Program, Brazos Alternative Loan Program, Edvisors Alternative Loan Program, GE Money Bank Alternative Loan Program, Old National Bank Alternative Loan Program, and Regions Bank Alternative Loan Program. Sovereign Bank, dated April 30, 2004, for loans that were originated under Sovereign Bank's Alternative Loan Program. • SunTrust Bank, dated March 1, 2002, for loans that were originated under SunTrust Bank's SunTrust Alternative Loan Program. • TCF National Bank, dated July 22, 2005, for loans that were originated under TCF National Bank's Alternative Loan Program. • U.S. Bank National Association, dated May 1, 2005, for loans that were originated under U.S Bank's Alternative Loan Program. IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NATIONAL COLLEGIATE STUDENT LOAN TRUST 2007-1, vs. : CIVIL DIVISION Plaintiff: JEREMY SCHULTZ, : NO: 14-6161 CIVIL Defendant CERTIFICATE OF SERVICE I, Michael Ratchford, Esquire, hereby certify that I caused a true and correct copy of Plaintiffs Amended Complaint was served via first class United States Mail, postage prepaid on the date set forth below upon the following: Eugene Frank, Esq. P.O. Box 845 Pittsburgh PA 15230 Date: I DI Abrahamsen Ratchford, P.C. ichael F ''atchford, Esquire Attorney I.D. No.: 86285 120 N Keyser Avenue Scranton, PA 18504 (570) 558-5510