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DUGALIC & LANDAU, LLC
Mark Landau, Esquire
Attorney I.D. No. 90757
634 Ridgewood Rd.
Upper Darby, PA ]9082
(610) 352-1322
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
,2006
No. CL -/9 L$ (It u : l:T <efl-"1.
CERTIFICATE OF ADDRESSES
It is hereby certified that on this 1- day of April, 2006, that the following are
parties of record:
Dugalic & Landau, LLC
634 Ridgewood Rd.
Upper Darby, P A 19082
Ma
DUGALIC & LANDAU, LLC
Mark Landau, Esquire
Attorney J.D. No. 90757
634 Ridgewood Rd.
Upper Darby, PA 19082
(610) 352-1322
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
,2006
: No. cL -!9f-S (It'uLL ~<r/L.~
NOTICE OF PROPOSED TRANSFER
PURSUANT TO 40 P.S. 4004
Petitioner in this matter, Stephen Rowe, hereby furnishes this Notice to
New York Life Insurance Company and any other interested party of the proposed
Transfer of Structured Settlement, as more fully set forth in the Petition intended to
accompany this Notice. The purpose of this Notice is to give you the opportunity to
support, oppose or otherwise respond to my client's Petition, either in person or by
counsel, by submitting written comments to the Court or by participating in the hearing.
You will be further notified of the time and place ofthe hearing, which will occur not
sooner than 20 days hereof.
Date: i/J~.
DUGALlC & LANDAU, LLC
BY: Mark Landau, Esquire
Attorney LD. No. 90757
634 Ridgewood Rd.
Upper Darby, PA 19082
(610) 352-1322
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
,2006
No. N~ - NL.\ C~u~L~0L)v1
NOTICE OF PROPOSED TRANSFER
PlJRSUANT TO 40 P.S. 4004
Petitioner in this matter, Stephen Rowe, hereby furnishes this Notice to New York
Life Insurance and Annuity Corporation and any other interested party of the proposed
Transfer of Structured Settlement, as more fully set forth in the Petition intended to
accompany this Notice. The purpose of this Notice is to give you the opportunity to
support, oppose or otherwise respond to my client's Petition, either in person or by
counsel, by submitting written comments to the Court or by participating in the hearing.
You will be further notified ofthe time and place of the hearing, which will occur not
sooner than 20 days hereof
Date:W~.
DUGALIC & LANDAU, LLC
Mark A Landau, Esquire
Attorney l.D. No. 90757
634 Ridgewood Rd.
Upper Darby, PA 19082
(610) 352-1322
Attorney for Petitioner
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
,2006
:No. Ci~ -/%$ C~o;l ~~
PETITION TO TRANSFER STRUCTURED SETTLEMENT
PURSUANT TO 40 P.S. 4000, ET SEQ.
TO THE HONORABLE JUDGE OF SAID COURT:
The Petition of Stephen Rowe, by and through his attorney, Mark A. Landau,
Esquire, respectfully represents as follows:
Petitioner is Stephen Rowe, an adult individual who resides at 212 3,d St., Apt. 1,
New Cumberland, PA 17070.
2. Petitioner is the beneficiary of an annuity owned by New York Life
Insurance and Annuity Corporation and issued by New York Life Insurance
Company. The structured settlement provides payment to the Petitioner as follows:
$804 per month for life, guaranteed for 40 years, commencing on 12/2 fi201 0;
SIO,OOO.OO due payable on 12/21/2010; S12,500.00 due payable on /2/21/20/5;
SI5,OOO.00 due payable on 12/2//2020; S20, 000. 00 due payable on /2/21/2025.
3. Petitioner proposes to enter into a purchase agreement with 321 Henderson
Receivables Limited Partnership, its nominees, successors or assigns, whose address is 40
Morris Avenue, Bryn Mawr, PA 19010, who will purchase Petitioner's structured
settlement (12 monthly payments of$804.00 each, beginning on 12/21/2015 and ending
on 11/21/2016; I payment of$15,000.00 on 12/21/2020; 24 monthly payments of
$804.00 each, beginning on 12/21/2023 and ending on 11/2\12025; 1 payment of
$20,804.00 on 12/21/2025; and, 144 monthly payments of$804.00 each, beginning on
1/21/2026 and ending on 12/21/2037) owned by New York Life Insurance and Annuity
Corporation and issued by New York Life Insurance Company for $23,500.00. A
copy of the Purchase Agreement is attached hereto, made apart hereof, and designated as
"Exhibit A".
4. The Buyer furnished the Petitioner with a Disclosure Statement pursuant to
40 P.S, 4003 (See "Exhibit A") at least ten (10) days prior to the date on which Petitioner
first incurred any obligation to the Buyer. The Statute also requires a Petition and Court
Order, authorizing the sale and finding the sale is in the best interest of the Petitioner.
5, The Buyer, 321 Henderson Receivables L.P" has served written notice,
including its name, address, and tax identification number, to the structured settlement
obligor and has served written notice as required by Pennsylvania Statute 40 P.S, 4004
upon all interested parties, none of whom have objected to the transfer. True and correct
copies of said notices are attached hereto, made apart hereof, and designated as "Exhibit
B".
6, The Petitioner's best interest would be served by granting relief requested
herein so that Petitioner may be able to purchase a new home,
WHEREFORE, Petitioner respectfully request this Honorable Court to approve
and authorize the sale of a structured settlement payment stream between New York Life
Insurance and Annuity Corporation and (issued by New York Life Insurance
Company) and Stephen Rowe to be sold and transferred to 321 Henderson Receivables
Limited Partnership, its nominees, successors or assigns.
Date: 44---~ '
Respectfully submitted,
L
03/15/2006 21:40
61064%566
DUGALI C LANDAU
PAGE 02
VERIFICATION
This will certify tIlat I, Steplaea Rowe., am t~ Petitioner in the above remen<<d
matter and that the facts set fW'th in the attached .Petition are true and correa to the best
of my knowledge, information and belief
I understand tIlat statmJents. herein are made subjeet to the penalties (>f li Pa,
C, S.A. 4904, relating to unsworn falsification to authorities.
p~~
Stepbell Rowe-
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
,2006
: No,
ORDER
AND NOW, this
day of
, 2006, the Court having
considered the Petition of Stephen Rowe for the transfer of structured settlement payment
right pursuant to 40 P,S, 4001, et seq.
by 40 P,S. 4002 are as follows:
And the interested parties to this action as defined
I, The Payee:
Stephen Rowe
212 3rd St., Apt. 1
NewCumberland,PA ]7070
2, Annuity Policy Owner:
New York Life Insurance and
Annuity Corporation
51 Madison Avenue
New York, NY 10010
3, Annuity Policy Issuer:
New York Life ]nsurance Company
5] Madison Avenue
New York, NY lOOIO
4, Transferee:
321 Henderson Receivables
40 Morris Avenue
Bryn Mawr, PA 19010
The Court, upon such Petition hereby makes the following findings:
1. The transfer sought to be approved complies with the requirements of the Structured
Settlement Protection Act, 40 P.S, 4000, et seq, and will not contravene any other
applicable law;
2. Not less than ten (10) days prior to the date on which Petitioner first incurred any
obligation with respect to the transferee, 32] Henderson Receivables has provided to
Stephen Rowe a disclosure statement as required by Pennsylvania Statute 40 P,S,
4003 (a )(2);
3, The transfer does not contravene any Federal or State statute or the Order of any court
or responsible administrative authority;
4, The best interest of Stephen Rowe would be served by granting the relief requested
herein so that Stephen Rowe may be able to purchase a new home;
5, 32] Henderson Receivables has served written notice, including its name, address,
and tax identification number, to the structured settlement obligor and has served
written notice as required by Pennsylvania Statute 40 P,S, 4004 upon all interested
parties, none of whom have objected to the transfer.
Based on the foregoing findings, it is hereby ORDERED that the transfer of
structured settlement payment rights, as described in the purchase agreement filed with
the application in this matter, is hereby APPROVED, and no party to this proceeding
shall hereafter refuse to honor this approved transfer.
New York Life Insurance and Annuity Corporation and New York Life
Insurance Company are hereby AUTHORIZED to remit 12 monthly payments of
$804,00 each, beginning on 12121/20]5 and ending on 1 ]/21/2016; I payment of
$ ]5,000,00 on 12/21/2020; 24 monthly payments of$804,00 each, beginning on
12/21/2023 and ending on 11/21/2025; ] payment of $20,804,00 on 12/21/2025; and, 144
monthly payments of $804,00 each, beginning on 1/21/2026 and ending on 12/21/2037,
to:
321 Henderson Receivables L.P,
P,O. Box 7780-4244
Philadelphia, PA ]9182-4244
This Order is entered without prejudice to New York Life Insurance and
Annuity Corporation and New York Life Insurance Company and the Court makes
no finding regarding the enforceability of any non-assignment provision(s) contained in
the original settlement agreement or related documents, This Order in no way modifies or
negates the ownership or control of the underlying contract with New York Life
Insurance and Annuity Corporation and New York Life Insurance Company,
By the Court:
1.
EXHIBIT
"A"
PURCHASE AGREEMENT
This is a Purchase Agreement. The date of this Agreement is ,200_, Stephen Rowe is the
Seller. 321 Henderson Receivables Limited Partnership, a Nevada Limited Partnership, its successors
and/or assigns is the Buyer. In this Agreement, Stephen Rowe is referred to as "You" or "Your" and 321
Henderson Receivables Limited Partnership or its nominee, is referred to as "We", nus" or "Our".
BACKGROUND OF THIS AGREEMENT
1. Your or someone on your behalf signed a Settlement Agreement (the "Release" or the
"Settlement Agreement"), in connection with the resolution of a personal injury claim,
2, The insurer funded the Payments by buying an annuity contract (the "Annuity") issued by New
York Life Insurance Company (the "Annuity Company"),
3, A list of the Payments being sold under this Agreement is attached to this Agreement as
Exhibit "A".
4, You desire to sell and assign to Us all of Your rights to receive all or a portion of the Payments
under the Release, as described on Exhibit "A", all of the other rights You have under the Release and the
other rights as described in Section1(a) below, We desire to purchase all of Your rights and benefits, on
the terms and under the conditions described in this Agreement.
You and We agree as follows:
1. Purchase and Sale.
a, You now sell, transfer and assign to Us all of Your rights in the "Assigned Assets" as
listed in Exhibit "A", By Our signing this Agreement, We are hereby purchasing and
accepting the sale and assigmnent of all of the Assigned Assets described above.
b, The Gross Purchase Price is Twenty-Fom Thousand Dollars and 00/100 Cents
($24,000,00), The Net Pmchase Price payable to You is $23,500.00 (the "Purchase
Price"). The Net Purchase Price will be paid to You when both You and We sign this
Agreement and We have completed Our intemal process.
2. Acknowledl!ment.
a,
You will agree after Your signing of this Agreement to deliver to Us, addressed as We
may require, other notices, instructions or documents, and copies of them, as We think
are necessary or proper to carry out this Agreement.
b,
When You and We sign this Agreement, You will also deliver to Us: (I) a letter
addressed to the Annuity Company directing that all payments of the Assigned Assets
after Your death shall be sent directly to Us, and (2) a Change of Beneficiary Form
changing the beneficiary of the Assigned Assets, after Your death, to "321 Henderson
Receivables Limited Partnership", as sole beneficiary [(I) and (2) above are referred to as
the Change of Beneficiary Form], The Change of Beneficiary Form will state that the
instructions may never be revoked and that no change may be made in the instructions or
Initial: .5//,R
@2005321 Henderson Receivables Limited Partnership
in the payments (including as to the payee or the manner or place of making such
payments) without Our prior written consent. You will also, when this Agreement is
signed by You and Us, deliver to Us, addressed as We may require, such other notices,
instructions or documents, and copies of them, as We think are necessary or proper to
carry out this Agreement.
c, Before You and We sign this Agreement, You will deliver to Us an acknowledgment of
Stephen Rowe, as primary beneficiary of the Assigned Assets, of the terms of this
Agreement. Stephen Rowe will agree that they are not entitled to any rights to any of the
Assigned Assets.
d, You agree to sign all other documents which We may request forever naming Us as the
only beneficiary of the Assigned Assets, including but not limited to an agreement to
provide in Your Last Will and Testament that all of Your rights to the Assigned Assets
were sold to Us (a "Testamentary Agreement"),
e, You acknowledge that We advised You to obtain independent professional tax advice to
determine whether this transaction will result in any adverse federal and/or state tax
consequences.
f. You acknowledge that We advised You must obtain independent legal representation
prior to executing this Agreement and that We have advised you that We may not refer
You to any specific attorney for snch purpose,
3. Your Representations and Warranties. You now represent and warrant to Us that:
a, You own (and are selling and assigning to Us under this Agreement) all of the
Assigned Assets, free and clear of all claims, liens, charges, security interests,
encumbrances, and agreements of any nature (other than this Agreement), and
when You and We sign this Agreement, no one other than Us shall have any
present or future right to the Assigned Assets,
b, This Agreement and all of the other documents signed in connection with this
Agreement have been properly signed by You, and they represent Your legal,
valid and binding obligation, enforceable against You in accordance with their
terms.
c, The signing and performance of this Agreement by You and the transactions
described in this Agreement:
1. do not conflict with any other obligations of Yours;
ii, will not cause a violation under (or create any right of termination,
cancellation or acceleration or similar right under) any contract or
agreement by which You or Your assets, including the Release, are
bound or may be affected;
iii, will not create, or give any party (other than Us) the right to create, any
lien, charge, security interest or encumbrance in, to or on any of the
Assigned Assets; and
IV. will not create a present or future right in any other party to make any
claim against You or Your assets, or any of the Assigned Assets.
In;tiaL $#.r<
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@2005321 Henderson Receivables Limited Partnership
Initial: 5/1 /Z
d, You understand the terms and provisions of this Agreement and You have been
represented by tax and accounting advisors and a lawyer in the signing of this
Agreement.
e. Neither You nor anyone else have to do anything else for (1) the proper signing
and performance by You of this Agreement and any transactions intended to be
done in this Agreement, or (2) the carrying out by Us of any of Our rights and
remedies under this Agreement. No other person has made a claim in any rights
in or to the Assigned Assets,
f. You have valid reasons for selling Yom interest in the Assigned Assets rather
than obtaining a loan with the Assigned Assets as collateral, and You agree that
the transaction set forth in this Agreement is not a loan or other financing
transaction.
g, This Agreement is a valid sale, transfer and assigrunent to Us of the Assigned
Assets,
h, Your residence and legal address is as described in Paragraph II of this
Agreement. During the last years, You have lived at such address.
L No representation or wananty of Yours in this Agreement or in any of the
documents delivered in cOlUlection with this Agreement or in any agreement
required by this Agreement, is inaccurate or contains any untrue or misleading
statement.
J. The signing by You of this Agreement will not violate any other promise or
agreement you have made with anyone else, You understand that any and all
restrictions on the assignability of the Scheduled Payments were included in the
Release and/or Annuity at Your request, for Your benefit and not for the benefit
of any other person, These restrictions, if any, were included by You as a
precautionary measure to make sure You were allowed favorable tax treatment
under the Intemal Revenue Code, You understand that by entering into this
Agreement, you may be giving up this favorable tax treatment. You understand
that any income earned by You on any investment or use of the Purchase Price
may be taxable to You, You may have to pay more in taxes as a result of this
Agreement. For Our benefit and the benefit of Our assigns or successors, You
agree to WAIVE AND RELEASE all of Your rights in, to, or under, such
restrictions on assignability, if any,
k. You have not before the date of this Agreement, sold or assigned Your right to the
Assigned Assets or any part of the Assigned Assets, You do not owe any money
to Your present or former spouse for support maintenance or similar obligations,
nor do You owe any money to any of Your children or guardians of Your
children. The Assigned Assets are not subject to any connnunity property or
similar marital rights of any person.
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@2()()5 321 Henderson Receivables Limited Pmtnership
Initial:
Sf/I<-
1. Your right to the Assigned Assets is not affected by any mortgage, pledge, lien,
charge, security interest, encumbrance, restriction or adverse claim of any
nature. You understand that any violation of any of Your representations in
this agreement will result in an act of fraud by You which could result in
You being held responsible for damages in favor of Us, with money to be
paid by You to Us.
m, You are not in violation of any obligations concerning child-care, alimony or
supp011,
n, You now give up forever all Your rights in any agreement that says that You
cannot assign or sell Your rights in the Assigned Assets to Us. You have not
requested and You do not expect to receive from Us, a FOlTI1 1099 or any other
documentation which could make the transaction described by this Agreement
taxable to You in any way. You further understand that We have not given to
You any advice about any of Your taxes in this transaction. You have relied on
Your own professional advisors concerning taxes.
0, As of the date of this Agreement, You are oflegal age in the state noted as Your
address in Section II of this Agreement, mentally sane, and of a sound mind.
You have never been convicted of a felony or any other crime involving
dishonesty.
p, You are very familiar with Your financial affairs and condition, With that full
understanding, You certify that (I) on the date We pay You the Purchase Price
and You sell to Us the Assigned Assets, the fair value of Your assets are and
will be greater than all of Your debts; (2) You presently intend to pay all of
Your creditors when such payments are due; and (3) You have not intentionally
hidden the fact from any creditor of Yours that You have entered into this
Agreement and the other documents referred to in this Agreement.
q, You do not intend to file for bankruptcy and there are no lawsuits or other
efforts by any of Your creditors to put You into bankruptcy or to take the
Assigned Assets,
r. The Purchase Price is not Your only or most important source of income and
You do not have any mental or physical problems that would prevent You from
having a paying job,
s. You promise to us that no broker, finder, or other person other than those
persons named in the broker statement signed by you in connection with this
Agreement was involved in or important in arranging the purchase transaction in
this Agreement. No other person has a right to any fee, payment, commission,
or other compensation because of this Agreement.
t. You agree that We have not forced You to give to Us copies or any confidential
documents, You agree that We told You that We only needed to see those
documents which described the Assigned Assets so we could buy from You the
Assigned Assets. You agree that We do not intend to tell any other party about
what is included in those documents. You understand that if We do so, it will
only be for the sole purpose of buying the Assigned Assets,
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@2005 321 Henderson Receivables Limited Partnership
U. You understand that it usually takes six to eight weeks to complete this process,
but that it could take longer. You understand that we have to obtain court
approval of this transfer. YOU UNDERSTAND THAT, DUE
TO OCCASIONAL DELAYS, WE WILL ESCROW
THE AMOUNT EQUAL TO THE NEXT TWO
MONTHLY PAYMENTS DUE TO YOU FROM
THE ANNUITY COMPANY TO INSURE THAT
WE RECEIVE ALL OF THE PAYMENTS THAT
WE PURCHASE. YOU UNDERSTAND THAT WE
MAY EITHER PAY OR ESCROW FUNDS TO
SATISFY ANY JUDGMENTS, TAX LIENS OR
CHILD SUPPORT AGAINST YOU OR THE
ASSIGNED ASSETS AND DEDUCT THOSE
AMOUNTS FROM THE PURCHASE PRICE. YOU
UNDERSTAND THAT WE WILL DEDUCT FROM
THE PURCHASE PRICE ANY AMOUNTS OF
PAYMENTS RECEIVED BY YOU PRIOR TO
FUNDING, IF SUCH AMOUNTS ARE NOT
COVERED BY THE ESCROWED FUNDS.
4, You promise Us that:
Initial Sll/-<.
a, You will not, and will not allow any other p31ty (except Us or Our assignee,
if applicable) to take funds away from the Assigned Assets, You will not
do anything else to affect the Assigned Assets, You will not say You still
own the Assigned Assets, You will not do anythiog or allow anyone else
to do anything that could in any way interfere with or lessen Our rights in
the Assigned Assets,
b, You will not do anything that will, or could in the future, violate the
Release, or any of the agreements required to be executed by this
Agreement. You also agree to cooperate with Us to help Us to obtain all of
the rights that We are buying from You in this Agreement and in the
Release,
c, You will give to Us at least thirty (30) days written notice of Your intention
to move Your residence or change Your legal address from the address in
Paragraph II of this Agreement.
d, You will not make any change in Your instructions to the Annuity
Company regarding payments to be made to You,
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@2005 321 Henderson Receivables Limited Partnership
e, You understand that the Aunuity and the Release may say that You agree
not to sell Your rights to the Assigned Assets,
f. You agree to continue to cooperate with Us, This includes Your obligation
to inunediately deliver to Us any checks, funds or other form of Payment
received after the date of this Agreement by You or anyone other than Us, If
any Payment is ever denied, delayed, or withheld from Us, as determined by
Us in our reasonable discretion, directly or indirectly on account of any act
or omission by You or any person acting for You, then You shall be in
default under this Agreement (and an Event of Default under ~8 shall be
deemed to have occurred), Immediately upon such default, and without any
further notice to You, You will pay to Us the following amounts:
(i) the full, dollar value of all remaining Assigned Assets as they
become due after the date of the default;
All of the remedies specified under this section shall be cumulative with all
of the remedies for default pursuant to 58.
g, If You learn before or after the sIgning of this Agreement of the threat or
actual beginning of any lawsuit or proceeding that has anything to do with
Our rights under this Agreement or the Assigned Assets, then You will
immediately notify Us of that and You will give Us copies of all notices and
other writings relating to it promptly after You receive them,
h, If You receive any notice relating to any supposedly unpaid claim affecting
the Aunuity or the Assigned Assets or to any other claim against the
Annuity or the Assigned Assets, then You will promptly notify Us and will
promptly give Us copies of all notices and other writings relating to it
received by You promptly after You receive them.
5, RIGHT TO CANCELLATION. YOU MAY CANCEL THIS CONTRACT
WITHOUT PENALTY OR FURTHER OBLIGATION WITHIN TWENTY-ONE DAYS FROM THE
DATE YOU RECEIVE PAYMENT FROM 321 HENDERSON, In order for the cancellation to be
effective, You must mail a notice of cancellation by registered or certified U,S, mail, postmarked within
twenty-one (21) days of receipt of the Purchase Price to Us, c/o Vice President of Operations at 2215-B,
Suite 5, Renaissance Drive, Las Vegas, NV 89119, Furthermore, in order for Your notice of cancellation
to be effective, Your registered or certified U,S, mail package to us must include a bank or certified check
for the full Purchase Price that We paid You under this Purchase Agreement. Any failure to comply with
the above procedure shall be a waiver of Your right to cancel this transaction.
6, Y onr Further Promises. You agree that, from time to time, at Your expense, You will
promptly sigu and give to Us any and all documents to help Us realize our rights and benefits under this
Agreement. This promise includes signing, filing or allowing Us to file financing or continuation
statements, or amendments or assignments of those documents. You permit Us or others acting for Us to
sign our name and/or your name and file without Your signature such financing statements, if that is
permitted in Your state of residence. When You sign this Agreement, You will also sign and deliver to Us
a "Special Irrevocable Power of Attorney" You must retain the services of an attorney and deliver an
opinion of Your attorney about the sale of Assigned Assets to Us, in a form acceptable to Us,
Initial: (" JlR
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@2005 321 Henderson Receivables Limited Partnership
7, Continuation of Representations. Warranties and Covenants. All of Your
representations, warranties and promises made in this Agreement will continue to be relied on by Us after
this Agreement is signed,
8, Event of Default. Your failure to comply with any term of this Agreement or Your
breach of any of Your representations in this Agreement will mean that You will be in default. We refer to
this as an "Event of Default." Ifthere is an Event of Default, We have the right to sue You in court to make
You perform Your promises or to get money from YOU. Your failure to comply with any material terms of
this Agreement will be a default.
In Paragraph 4 (c) You agree to give US at least thirty (30) days written notice after Your move to
a new residence or change of Your legal address from the address in Paragraph 11 of this Agreement. If we
are purchasing from You certain lump sum payments, We will contact you at least 3 months before the
scheduled payment is due to determine if the address change We have effected with the annuity company is
in place and to determine if Your legal address has remained the same, If We cannot contact you because
You have changed Your legal address or moved Your residence and failed to notify Us, We will
consider such failure to notify Us to be an EVENT OF DEFAULT and We will exercise all of our
legal rights under this Agreement. OUR RIGHT TO PROCEED AGAINST YOU UNDER THIS
AGREEMENT SHALL BE SOLELY LIMITED TO WHEN YOU HAVE COMMITTED AN
EVENT OF DEFAULT. WE SHALL NOT HAVE THE RIGHT TO SUE YOU IF OR BECAUSE
THE ANNUITY COMPANY IS NOT ABLE TO MAKE PAYMENTS BECAUSE IT IS NOT
FINANCIALLY ABLE TO DO SO.
9. Controlling Law, This Agreement shall be governed, construed and enforced in
accordance with the internal laws of the State of Pennsylvania without regard for the conflicts of law rules
thereof or elsewhere, (For Court Orders or Notice Transfers obtained in the following jurisdictions: AK,
AR, AZ, CA, CO, CT, DE, FL, GA, lA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT,
~~~~~oo~~~~~m~~~~~~~~~~
jurisdictions shall be applied in the event of a dispute regarding the transfer.) Your domicile is the proper
place of venue to bring any action arising out of a breach of this Agreement.
10. Responsibilitv for this Agreement. This Agreement will hold responsible Your heirs,
executors, successors and assigns and will benefit Our representatives, successors, beneficiaries and
permitted assigns, Nothing in this Agreement is intended to give anyone other than You or Us or each of
OUf successors or assigns any benefits.
II, Notices, All notices and other communications under this Agreement will be in writing
and will be made by delivery by means by which the sender obtains a receipt of delivery from the carrier
(including without limitation, certified mail return receipt requested or ovelnight courier services),
addressed to the party to whom a request or demand is to be made, Such demand or notice or request shall
be deemed given on the date which is one business day after the date sent by overnight mail or three days
after the date sent by certified malL
The addresses of the parties are as follows:
If to You:
Stephen Rowe
212 3rd Street, Apt I
New Cumberland, PA 17070
Initial,5'.#' /2
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@2005321 Henderson Receivables Limited Paltnership
If to Us:
32 I Henderson Receivables Limited Partnership
2215-B Renaissance Drive
Suite 5
Las Vegas, NV 89119
Attention: Vice President - Operations
12. Past Actions. Anything either You or We did or said before this Agreement was signed
will not affect Your or Our rights under this Agreement in any way,
13. Expenses. Except as otherwise affirmatively set forth in this Agreement, You and We
agree that we will each pay our respective costs and expenses in connection with the carrying out of this
Agreement.
14. Headin2"s. The section and subsection headings contained in this Agreement are for
reference purposes only and will not affect in any way the meaning or interpretation of this Agreement.
15, Connterparts. One or more originals of this Agreement may be signed with Your or Our
signature, When put together they will make one agreement and the Agreement will be considered signed
by all paliies that need to sign, A facsimile signature will be considered an original.
16. Assie:nment. We and anyone to whom We assign this Agreement may assign Our right,
title and interest in and to this Agreement, the Annuity and the Assigned Assets without Y OUI approvaL
You and We agree that if there is an assignment by Us to someone else, We shall not be responsible to
You, You must look only to the person or company that We assign this Agreement to for any payment (for
example, of the Purchase Price) and performance of this Agreement. When asked by Us or any assignee,
You will sign and deliver any such documents as We may require to perform this h'ansaction, as assigned.
Initial:
5/1/2
8
@2005 321 Henderson Receivables Limited Partnership
17, Your soouse, You and Your spouse are fully aware of Your rights in the Assigned
Assets, You and Your spouse fully give up those rights, You and Your spouse understand that by selling
the Assigned Assets to Us) You and Your spouse are not receiving the same amount of money as You
would if You waited for all of the scheduled Payments of the Assigned Assets but, rather, are receiving a
discounted value in return for receipt of the Purchase Price immediately. You and Your spouse have valid
reasons for selling the Assigned Assets. You and Your spouse fully understand the terms of the Purchase
Agreement and understand that the sale of the Assigned Assets is final. You also understand that Your
spouse gives up any property right he or she may have in the Assigned Assets that Your spouse could claim
because of Your marriage.
18. Entire Al!reemeut. This Agreement and the Exhibits and other documents You signed
make up the entire understanding and agreement between You and Us about this Agreement. This
Agreement replaces all prior agreements, whether written or oral, about this Agreement. This Agreement
may not be changed unless in a writing signed by You and Us,
19, Limitation of Liabilitv of Buver. You understand that Our liability to You under this
Agreement is strictly limited to the requirement to pay the Purchase Price and under no circumstances will
We be responsible for consequential damages.
20. Court Aooroval. You understand that court approval is required for this transfer.
You agree to cooperate with us to obtain such court approvaL
21.
Exhibits.
Attached to this Purchase Agreement are the following Exhibits:
Exhibit II A n
List of What Payments We are Buying,
Intending to be legally bound, You and We have signed this Agreement as of the date at the top of
the first page of this Agreement.
321 HENDERSON RECEIVABLES LIMITED
PARTNERSHIP
Vice Presi
..-=-%::- e -
StePhen~ow
~'-
----
ESpouse
-.....
......
S\yorn to and subscribed
bej{)re l11e this~1" day of~, 20(J_~
.~,::),.. __l
Nota ry
COMMONWEAL.TH OF PENNSYL.VANIA
NOTARIAL SEAL
MARYANN RUSSO, Notary Public
Media Bora" Delaware County
My Commission Expires December 9, 2007
9
@2005 321 Henderson Receivables Limited Partnership
Exhibit A
Weare hereby purchasing from You under the Annuity:
A) 12 Monthly payments of$804.00 each, beginning on 12/21/2015 and ending on 11/21/2016 B) I payment of$15,000.00 on
12/21/2020 C) 24 Monthly payments of$804.00 each, beginning on 12/2112023 and ending on 11/2112025 D) 1 payment of
$20,804.00 on 12121/2025 E) 144 Monthly payments of$804,00 each, begimling on 1121/2026 and ending on 12/21/2037
_.6ff~ -
Stephen Rowe
<SIGNRBRE .1
STATE OF (Je""s,::\ \", 0..,,', "-
COUNTY OF Q...\",^",~
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On this ~ day of _, ,.", ''-'''' , 200lD, before me, the above signed personally appeared before me, personally known to
me to be the person whose name is suhstrihed to the within instrument and acknowledged to mt.' that he executed it.
~)~~
COMMONWEAL.TH OP' P'ENNIVL.VANIA
NOTARIAL SEAL
MARYANN RUSSO, Notary Public
Media Bora" Delaware County
My Commission Expires December 9,2007
SCHEDULE 1
DISCLOSURE STATEMENT
PLEASE BE ADVISED THAT THE PROPOSED TRANSACTION IS A
SALE, NOT A LOAN, AND THAT YOU WILL BE SELLING ALL RIGHTS
AND TITLE TO THE ASSIGNED ASSETS ONCE THIS TRANSACTION
IS CONSUMMATED. PLEASE BE ADVISED THAT YOU MAY BE
SUBJECT TO ADVERSE FEDERAL AND STATE INCOME TAX
CONSEQUENCES AS A RESULT OF THE PROPOSED TRANSACTION.
YOU SHOULD CONSULT YOUR OWN COUNSEL, ACCOUNTANT, OR
FINANCIAL ADVISOR REGARDING ANY FEDERAL OR STATE
INCOME TAX CONSEQUENCES ARISING FROM THE PROPOSED
TRANSFER.
YOUR PURCHASE PRICE WAS DERIVED ASSUMING A DISCOUNT
RATE SIGNIFICANTLY HIGHER THAN THE PRIME INTEREST RATES
CHARGED BY COMMERCIAL BANKS, THEREFORE, WE URGE YOU
TO EXPLORE ALL FINANCIAL OPTIONS.
WE WILL PURCHASE FROM YOU A) 12 Monthly payments of $804.00
each, beginning on 12/21/2015 and ending on 11/21/2016 B) 1 payment of
$15,000.00 on 12/21/2020 C) 24 Monthly payments of $804.00 each, beginning
on 12/21/2023 and ending on 11/21/2025 D) 1 payment of$20,804.00 on
12/21/2025 E) 144 Monthly payments of $804.00 each, beginning on 1/21/2026
and ending on 12/21/2037
THE AGGREGATE AMOUNT OF THE PURCHASED PAYMENTS IS
$180,524.00.
THE DISCOUNTED PRESENT VALUE OF THE AGGREGATE
PAYMENTS AT 5.40% IS $57,377.85. THE DISCOUNTED PRESENT
VALUE IS THE CALCULATION OF THE CURRENT VALUE OF THE
TRANSFERRED STRUCTURED SETTLEMENT PAYMENTS UNDER
FEDERAL STANDARDS FOR VALUING ANNUITIES. THE GROSS
AMOUNT PAYABLE TO SELLER IS $24,000.00.
THE FOLLOWING EXPENSES ARE INCURRED BY THE SELLER
(YOU) AND WILL BE DEDUCTED FROM THE PURCHASE PRICE:
COMPLIANCE AND ADMINISTRATIVE FEE: $500.00
FILING AND RELATED EXPENSES FEE: $0.00
THE NET AMOUNT PAYABLE TO THE SELLER(YOU) IS $23,500.00.
NO OTHER EXPENSES ARE INCURRED BY YOU.
SCHEDULE 1. PAGE 2
THE DISCOUNTED PRESENT VALUE OF PAYMENTS SHALL BE
CALCULATED AS FOLLOWS: THE APPLICABLE FEDERAL RATE
USED IN CALCULATING THE DISCOUNTED PRESENT VALUE IS
5.40%.
THE EFFECTIVE ANNUAL DISCOUNT RATE FOR THIS
TRANSACTION IS 10.15%. THE CASH PAYMENT YOU RECEIVE IN
THIS TRANSACTION FROM US WAS DETERMINED BY APPLYING
THE SPECIFIED EFFECTIVE ANNUAL DISCOUNT RATE,
COMPOUNDED MONTHLY, TO THE TOTAL AMOUNT OF FUTURE
PAYMENTS TO BE RECEIVED BY US, LESS THE TOTAL AMOUNT OF
COMMISSIONS, FEES, COSTS, EXPENSES AND CHARGES PAYABLE
BY YOU.
THE NET AMOUNT THAT YOU WILL RECEIVE FROM US IN
EXCHANGE FOR YOUR FUTURE STRUCTURED SETTLEMENT
PAYMENTS REPRESENTS 41.00% OF THE ESTIMATED CURRENT
VALUE OF THE PAYMENTS BASED UPON THE DISCOUNTED VALUE
USING THE APPLICABLE FEDERAL RATE.
THE QUOTIENT OBTAINED BY DIVIDING THE NET PAYMENT BY
THE DISCOUNTED PRESENT VALUE IS 41.00%.
BASED ON THE NET AMOUNT THAT YOU WILL RECEIVE FROM US
AND THE AMOUNTS AND TIMING OF THE STRUCTURED-
SETTLEMENT PAYMENTS THAT YOU ARE TURNING OVER TO US,
YOU WILL, IN EFFECT, BE PAYING INTEREST TO US AT A RATE OF
10.15% PER YEAR. THE NET AMOUNT PAID TO YOU (THE PAYEE)
BY US (THE TRANSFEREE) REPRESENTS AN ESTIMATE OF THE
FAIR MARKET VALUE OF THE FUTURE PERIODIC PAYMENTS
TRANSFERRED UNDER THE STRUCTURED SETTLEMENT
AGREEMENT.
SCHEDULE 1. PAGE 3
NOTICE OF CANCELLATION RIGHTS:
YOU MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO
5:00 P.M. OF THE TWENTY-FIRST DAY FOLLOWING THE LATER OF
THE EXECUTION OF THE PURCHASE AGREEMENT, OR THE DATE
THE PAYEE BECOMES OBLIGATED UNDER THE PURCHASE
AGREEMENT WITHOUT PENALTY OR FURTHER OBLIGATION.
THIS CANCELLATION RIGHT CANNOT BE WAIVED IN ANY
MANNER.
TO CANCEL, YOU MUST PROVIDE WRITTEN NOTICE TO THE
TRANSFEREE. WRITTEN NOTICE SHOULD BE MAILED OR
DELIVERED TO THE ADDRESS BELOW BY 5:00 P.M. OF
(THE TWENTY-FIRST DAY FOLLOWING THE TRANSACTION). IT IS
BEST TO MAIL IT BY CERTIFIED MAIL, RETURN RECEIPT
REQUESTED, AND TO KEEP A PHOTOCOPY OF THE SIGNED FORM
AND YOUR POST OFFICE RECEIPT. ADDRESS TO WHICH
CANCELLATION IS TO BE RETURNED:
321 HENDERSON RECEIVABLES LIMITED PARTNERSHIP
2215-B RENAISSANCE DRIVE
SUITE 5
LAS VEGAS, NV 89119
ATTENTION: VICE PRESIDENT- OPERATIONS
IMPORTANT NOTICE: YOU ARE STRONGLY URGED TO CONSULT
WITH AN ATTORNEY WHO CAN ADVISE YOU OF THE POTENTIAL
TAX CONSEQUENCES OF THIS TRANSACTION.
SCHEDULE 1. PAGE 4
PLEASE BE ADVISED THERE ARE NO PENALTIES OR LIQUIDATED
DAMAGES PAYABLE BY YOU IN THE EVENT OF ANY BREACH OF
THE TRANSFER AGREEMENT BY YOU. THERE ARE NO BROKERS
COMMISSIONS, SERVICE CHARGES, APPLICATION FEES,
PROCESSING FEES, CLOSING COSTS, FILING FEES,
ADMINISTRATIVE FEES, LEGAL FEES, NOTARY FEES AND OTHER
COMMISSIONS, FEES, COSTS, EXPENSES AND CHARGES PAYABLE
BY YOU OR DEDUCTED FROM GROSS AMOUNT OTHERWISE
PAYABLE TO YOU OTHER THAN THE COMPLIANCE AND
ADMINISTRATIVE FEE AND THE FILING AND RELATED EXPENSES
FEE.
IF YOU BELIEVE YOU WERE TREATED UNFAIRLY OR WERE
MISLED AS TO THE NATURE OF THE OBLIGATIONS YOU ASSUMED
UPON ENTERING INTO THIS AGREEMENT, YOU SHOULD REPORT
THOSE CIRCUMSTANCES TO YOUR LOCAL DISTRICT ATTORNEY
OR THE OFFICE OF THE ATTORNEY GENERAL.
THE EFFECTIVE DATE OF THE TRANSFER AGREEMENT SHALL BE
DEEMED TO BE THE DATE THAT THE AGREEMENT WAS SIGNED
BY THE YOU (PAYEE).
PLEASE BE ADVISED THAT PAYMENT TO YOU PURSUANT TO THE
TRANSFER AGREEMENT IS CONTINGENT UPON COURT APPROVAL
OF THE TRANSFER AGREEMENT.
PLEASE BE ADVISED THAT PAYMENT TO YOU WILL BE DELAYED
UP TO 30 DAYS OR MORE IN ORDER FOR THE COURT TO REVIEW
AND APPROVE THE TRANSFER AGREEMENT.
BY SIGNING BELOW YOU ARE CONFIRMING RECEIPT OF THIS
DISCLOSURE AT LEAST 10 DAYS PRIOR TO RECEIPT OF THIS
CONTRACT.
~-:- ~ -
STEPHEN ROWE ~IGN HERE I
EXHIBIT
"B"
r
321
HENDERSON RECEIVABLES
LIMITED PARTNERSHIP
March 24, 2006
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
Attn: Legal Department/Structured Settlements
New York Life Insurance And Annuity Corporation
51 Madison Avenue
New York, NY 10010
Attn: Legal DepartrnentlStructured Settlements
RE: Notice of Sale/Assignment of Payment Rights
Your Contract #: FP208313
Payee: Stephen Rowe
SS #: 589-22-5278
Dear Insurer:
Please be advised that 321 Henderson Receivables Limited Partnership and/or its successors and
assigns, have entered into a transaction with the above-referenced annuitant who is seeking to
transfer certain ofhislher rights to the payments scheduled to be received under the above-
referenced annuity policy, We are currently seeking court approval pursuant to the applicable
structured settlement transfer statute, Pursuant to the statute, please note the following
information about the Purchaser:
321 Henderson Receivables Limited Partnership
40 Morris Ave
Bryn Mawr PA 19010
Tax ID #88-0513164
PLEASE NOTE: No payments under this annuity should be held until the courts have entered a
final order and we have forwarded this order to you,
Very truly yours,
By:
David J, Reape, Senio
President
2215-B RENAISSANCE DRIVE. suite 5 . LAS VEGAS, NV 89119
PHONE: 800-454-9368. FAX: (215) 567-7525' E-MAIL: lGW(a)1GWFUNDlNG,COM
WEB SITE: WWWjGWFUNDlNG,COM
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DUGALIC & LANDAU, LLC
Mark Landau, Esquire
Attorney I.D. No. 90757
634 Ridgewood Rd,
Upper Darby, PA 19082
(610) 352-1322
RECEIVED
APR 1 0 2006
BY:
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
,2006
: No, 0<.., -}C?/ACj C!((')LL~VLM[
RULE
AND NOW, this L..) r'- day of ~ ' 2006, upon
consideration of Petition to Transfer Structured Settlement Pursuant to Structured
Settlement Protection Act, 40 P,S, 4000, Et. Seq" a Rule is hereby issued upon New York
Life Insurance and Annuity Corporation and New York Life Insurance Company to show
cause why said Petition should not be granted,
RULE RETURNABLE FOR HEARING the o>-l-P< day of ~ '
200~t I rOO.p.,m, in Courtroom No. ~ in the Cumberland County Courthouse,
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IN RE: STEPHEN ROWE,
Petitioner
: IN THE COURT OF COMMON PLEAS OF
: CUMBERLAND COUNTY, PENNSYLVANIA
: 06-1965 CIVIL
ORDER OF COURT
AND NOW, this 2nd day of June, 2006, after consideration of the request for a
continuance from Mark Landau, Esquire, the Attorney for the Petitioner, the continuance
is GRANTED. The hearing shall be held on the 29th day of June, 2006, at 3:30 p.m. in
Courtroom No.5 of the Cumberland County Courthouse, Carlisle, Pennsylvania.
Mark Landau, Esquire
Attorney for Petitioner
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By the Court,
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DUGALIC & LANDAU, LLC
Mark A. Landau, Esquire
Attorney lD. No. 90757
634 Ridgewood Rd.
Upper Darby, PA 19082
(610) 352-1322
Attorney for Petitioner
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
, 2006
: No. C't,-/ttt6' ~
AMENDED PETITION TO TRANSFER STRUCTURED SETTLEMENT
PURSUANT TO 40 P.S. 4000, ET SEO.
TO THE HONORABLE JUDGE OF SAID COURT:
The Petition of Stephen Rowe, by and through his attorney, Mark A. Landau,
Esquire, respectfully represents as follows:
Petitioner is Stephen Rowe, an adult individual who resides at 212 3rd St., Apt. I,
New Cumberland, P A 17070.
2. Petitioner is the beneficiary of an annuity owned by New York Life
Insurance and Annuity Corporation and issued by New York Life Insurance
Company. The structured settlement provides payment to the Petitioner as follows:
$804 per month for life, guaranteed for 40 years, commencing on 12/21/2010;
$10,000.00 due payable on 12/21/2010; $12,500.00 due payable on 12/21/2015;
$15,000.00 due payable on 12/21/2020; $20,000.00 due payable on 12/21/2025.
3. Petitioner proposes to enter into a purchase agreement with 321 Henderson
Receivables Limited Partnership, its nominees, successors or assigns, whose address is 40
Morris Avenue, Bryn Mawr, PA 19010, who will purchase Petitioner's structured
settlement (12 monthly payments of $804.00 each, beginning on 12/21/2015 and ending
on 11/21/2016; 1 payment of$15,OOO.00 on 12/21/2020; 25 monthly payments of
$804.00 each, beginning on 12/21/2023 and ending on 12/21/2025; 1 payment of
$20,000.00 on 12/21/2025; and, 83 monthly payments of $804.00 each, beginning on
L
,.
1/21/2026 and ending on 11/21/2032) owned by New York Life Insurance and Annuity
Corporation and issued by New York Life Insurance Company for $20,500.00. A
copy of the Purchase Agreement is attached hereto, made apart hereof, and designated as
"Exhibit A".
4. The Buyer furnished the Petitioner with a Disclosure Statement pursuant to
40 P.S. 4003 ( See "Exhibit A") at least ten (10) days prior to the date on which Petitioner
first incurred any obligation to the Buyer. The Statute also requires a Petition and Court
Order, authorizing the sale and finding the sale is in the best interest of the Petitioner.
5. The Buyer, 321 Henderson Receivables L.P., has served written notice,
including its name, address, and tax identification number, to the structured settlement
obligor and has served written notice as required by Pennsylvania Statute 40 P.S. 4004
upon all interested parties, none of whom have objected to the transfer. True and correct
copies of said notices are attached hereto, made apart hereof, and designated as "Exhibit
B".
6. The Petitioner's best interest would be served by granting relief requested
herein so that Petitioner may be able to purchase a new home.
WHEREFORE, Petitioner respectfully request this Honorable Court to approve
and authorize the sale of a structured settlement payment stream between New York Life
Insurance and Annuity Corporation and (issued by New York Life Insurance
Company) and Stephen Rowe to be sold and transferred to 321 Henderson Receivables
Limited Partnership, its nominees, successors or assigns.
Date~'
Respectfull submitted,
Mark La au, E quire
Attorney for Petitioner
-
..
VERIFICATION
This will certify that I, Stephen Rowe, am the Petitioner in the above referenced
matter and that the facts set forth in the attached Petition are true and correct to the best
of my knowledge, information and belief.
I understand that statements herein are made subject to the penalties of 18 Pa.
C.S.A 4904, relating to unsworn falsification to authorities.
~-
Stephen Rowe
EXHIBIT
"A"
07/03/2006 14:47 FAX
J8 WENTWORTH
141 002/015
Account 1D: 199715
PURCHASE AGREEMENT
This is a Purchase Agreement. The date ofthis Agreement is , 200_. Stephen Rowe is the
Seller. 321 Henderson Receivables Origination LLC, a Nevada Limited. Liability Company, its succeSsors
and/or assigns is the Buyer. In thi:s Agreement, Stephen Rowe is referred to as "You" or "Vour" and 321
Henderson Receivables Origination LLC or its nominee, is I1lferred to III "We", "Us" Of "Our".
BACKGROUND OF THIS AGREEMENT
I. Y Ollf Of someone on your behalf signed a Settlement Agreement (the "Release" or the
"Settlement Agreement"). in connection with the resolution of a personal injury claim.
2. The insurer funded the Payments by buying an annuity contract (the "Annuity") issued by New
York Life Insurance Company (the "Annuity Company").
3. A list of the Payments being sold under this Agx-eement is attached to this Agreement as
Exhibit" An.
4. You desire to sell and assign to Us all OfYOUf rights to receive all or" portion of the Payments
under the Release, as described on Exhibit "A", all of the other rights You have under the ReCease and the
,other rights as described in Section J(8.) below. We desire to purchase all of Your rights and benefits, on
the terms and under the conditions described in this Agreement_
You and We agree as follows.:
I. Purchase and Sale.
a. You now sell, transfer and assign to Us all of Your rights in the "Assigned Assets" as
listed in Exhibit "A". By Our signing this Agreement, We are hereby purchasing and
accepting the sale and asslpment of all of the Assigned Assets descnbed above.
b. The Gross Purchase Price is Twenty...()ne Thousand Dollars and 00/100 Cents
($21,000.00). The Net Purchase Price payable to You is S20,SOO.OO (the "Purchase
Price"). The Net PurchQe Price win be paid to You when both Yau and We sign this
~greement and We have completed Our internal process.
2. AeImowled2lbeot.
8. You will agree after Your signing of this Agreement to deliver to Us, addressed 1I5 We
may require, other notices, iDsttuctions or documents, and copies of them, as We think
are necesslll)' or proper to carry out this Agreement.
b. When You and W,: sign this Agreement, You will also deliver to U.5: (1) a letter
addressed to the Annuity Company directing that all payments of the Assigned Assets
after Your death shaU be sent directly to Us, and (2) a Change of Beneficiary Form
changing the beneficiary oftbe Assigned Assets, after Your death, to "321 Henderson
Receivables Origination LLC", as sole beneficiary [(I) and (2) above are referred to as
the Change of Beneficiary Form]. Th~ Change of Beneficiary Fonn will state that the
instnJctiolls may never be revoked and that no change may be made in the instructions or
Inilial:
5/1/C~
@2005 321 HendcrsQll Rec:eiv<lblc:s t..imited Pal1l1orship
07/~3/2008 14:47 FAX
.
J6 WENTWORTH
141003/015
Account 10: 199715
in the paymeJrts (including as to the payee or the manner or place of making such
payments) without Our prior written consent. You will also, when thi~Agreement is
signed by You and Us, deliver to Us. addressed as We may require. such other notices,
instructioDs or documents, anel copies of tbt::m, as We mink are neces&&ry or proper to
cany out this Agreement.
c. Before You and We sign this Agreement, You will deliver to Us IU1 acknowledgment of
Stephen Rowe, as primllIy beneficiary of the Assigned Assets, of the terms or this
Agreement. Stephen Rowe wUl qree that they are not entitled to IllJY rights to any of the
Assigned Assets.
d. You agree to sign all other documents which We may request forever naming Us as the
QIlly beneficiary of the Assigned Assets, including but not limited to an agreement to
provide in Your LlISt Will and Testament that all of Your rights to the Assigned Assets
were sold to Us (a "Testamentary Agreement").
e. You acknowledge that We advised You to obtain independent professional tax advice to
:jetermine whether this transaction will result in any adverse federal and/or state tax
consequences.
f. You acknowledge that We advised Vou must obtaioindependent legal representation
prior to executing this Agreeinent and that We have advised you that We may not refer
You to any specific attorney for!udt purpose.
3 . YOur Representations and Warrut1e5. Y 0\1 now represent and warrant ::;J Us that;
s. You own (iUld ate selling and assigning to Us under this Agreement) all of the
Assigned Assets, free and clear of all claims, liens, charges, security interests,
encumbrances, and qreements of any nature (other than this Agreement), and
when You and We sign this' Agreement, no one o1f1er than Us shall have any
presenr or future right to the Assi.cned Assets.
b. This Agreement 8Dd aU of the other documents signed in connection with this
Agreement bave been properly signed by You, and tltey represent Your legal,
valid and binding obligation, enEorecable against Y Oil in accordance with their
terms.
c. The signing and performance of this Agreement by You and the transactions
descn"bed in this Agreement:
i. do not conflict with any other obligatiQlls OfYoUfS;
n. wiJl Dat cause a violation under (or create any ript of termination.,
CWIcellal:iQll Or acceleration or' similar right lIIt.der) any contract or
agreement by which You or Your assets, including the Release, arc
bound or may be affec~;
iii. will not c.reate, or give any pany (other than Us) the right to create, any
lien, charge. security interest or encumbrance in, to or on any of the
Assigned Assets; auel
iv. will not create a present or future right in any other p~ to make any
claim against Vou or Your assets, Or any of the AssigoelAssets.
'"""' 5' 11/2 _
2
@ZOOS 321 HauIenon Rcx:civablcs Limited Par1nelShip
07/~3/2006 14:47 FAX
J6 WENTWORTH
~004/015
Account 10: 199715
d. You understand the Ulrtrls and provisions oftbis Agreement and You have been
represenred by tax and accounting advisOfS and a lawyer in the signing of this
Agreement.
e. Neither You nor anyone else have to do anything else for (1) the proper liligning
and performance by Yon of this Agreement and any transactions intended to be
done in this Agreement., or (2) the carJ')'iog out by Us of any of Our rights and
remedies under this Apement. No ot:ber person has made a claim in any rights
in or to the Assigned Asset!.
f. Y QU have valid reasons fof selling Your interest in the Assigned ASliiets rather
than obtaining a loan with tht Assigned Assets as collateral, and You a,gree that
the transaction set forth in this Agreement is not a loan or other financing
transaction.
g. This Agreement is a valid sale, transfer and assignment to Us of the Assigned
Assets.
h. Your residence and legal address is as described in Paragraph I I of this
Agreement. During the last years, You have lived at such address.
L No representation or wamulty of Yours in this Agreement or in any of the
documents delivered in counection with this Agreement or in any agreement
required by this Agreement, is inaccurate or contains any untrue 01' misleading
statement. ".
j. The signing by YOll of this Agreement will not violate any other promise or
agreement you have made whh anyone else. You. understand that any and all
restrictions on the lIBsignability of the Scheduled Payments were included in the
Release and/or Annuity at Your request, for Your benefit and not for the benefit
of any other person. These restrictions, if any, were includect by You as a
precautionary measure to make sure You were allowed fivorablt tax treaunent
Wider the Intema1 Revenue Code. You understand that by entering into this
^greement, you may be gi~ up 1bis filvorable tax treatment. Yau understand
that any income earned by You on any investment or use of the Purcbase Price
may be taxable to You. You may bve to pay more in taxes as a result of tbls
Agreement. For Our benefit and the benefit of Our assigns or successors, You
agree to WAIVE AND RELEASE all of Your rights in, to, or under, such
restrictions on assigDability, if any.
k. You have not before the date of this Agreement, sold or assigned Yow- right to the
Assigned Assets or any part of the Assigned Assets. Yau do not owe any money
to Your present or former SpDUlIE for support mainteDance or similar obligations,
nor do You owe any money to any of Your chilc1renor guardians of Your
children. The Assigned Assets are not subjec;:t to any community property or
similar marital rigbt5 of my person.
InitiBl:
;-11;(. __
3
@2OOS 321 Henderson Receivables Limited Partnership
07/03/2006 14:47 FAX
Initial: > /I/l..
J6 'ENTW'ORTH
~005/015
Account ill: 199715
1. Your right to the Assigned Assets i:s not affected by any mortgage, pledge, lien,
charge, smirity interest, en~e, restr'iQion or adverse claim of any
nature. You u.lldentaad tbat any violatio. of any of Your represeDtatiOIJS iQ
tbis agreement will reI.1t in an act or fraud by You wbith could reslllt in
\' ou beiag beld ...,outbJe for damages In favor of Us, witb moaey to be
paid by You to Us.
m. You are not in vioJltioo of any obligatiOJl$ wnc:eming child..qre, alimony Of
support.
D_ You now give up forever all Your rights in any agreement that.says that You
cannot assign or sell Your rights in the Assiped Assets to Us. You have not
requqred and You do not ~ to teeeive from Us, a Fonn 1099 or any other
documentation which could make the transaction described by this Agreement
taxable to You in auy way. You further understand that We have not given to
You any advice about any of Your taxes in this traJJsactiQ]1_ You have relied on
Your own professional advisors conc:eming taxes.
o. As of the date of this Agreement, You are oflega] age in the State noted as Your
address in Section I t of this Agreement, mentally sane, and of a sound mind.
You haV1: never been convicted of a felony or ar.y other crime involving
. dishonesty.
p. You are very familiar with Your financial affairs and condition. With that full
understanding. You certify that (1) on the date We pay You the Purchase Price
and You sell to Us thc Assigned Assets, the fair value of Your assets are and
will be greater than aU of Your debts; (2) You presently intend to pay all of
Your creditors when such payments are due; and (3) You have not intentionally
hidden the fact &om any creditor of yOurs that You have entered into this
Agreement and The other docwnents referred to in this Agreement.
q. You do not intend to file :fOr bIInkruptc:y ad there are no lawsuits or otber
efforts by any of Your creditors to put You into bankruptcy or to take the
Assigned Assets.
f. The Purchase Price is not Your only or most important source of income and
You do not have any mental or physical problems that would prevent You from
having a paying job.
S. You promise to us that no broker, finder, or other penon other thllJl those
persons named in the broker statement signed by you in connection with this
Agreement WIU involved in or important in mTallging the pUJ'(:hase transaction in
this Agreement. No other person has a right lO any fee. payment, commission,
or other compensation beawse of this Agreement.
1. You agree 1bat We haw DOt forced You to give to Us copies of any confidential
document!. You llI"'C that We told You that We only needed to see those
documents which described the Assigned Assea. so we could buy from You the
Assigned Assets. You agree that We do not intend to tell any other party about
what is included in those document$. You underslm1d that if We do .\'iO, it will
only be for the sole purpose of buying the Assigned Assets.
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@200S 3211-U:ndcni0ll R~vllblcs Limited P'mfnership
.
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JG WENUORTH
~006/015
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A~CQunt ID: 19971 S
U. You understaDd tbar it usually takes m to eipt weeks to complete this process,
but that it could take lonPl'. You. undcntand thlt we have to obtain court
approval of this transfer. YOU UNDERSTAND THAT. DUE
TO OCCASIONAL DELAYS, WE WILL ESCROW
THE AMOUNT EQUAL TO THE NEXT TWO
MONTHLY PAYMENTS DUE TO YOU FROM
THE ANNUITY COMPANY TO INSURE THAT
WE RECEIVE ALL OF THE PAYMENTS THAT
WE PURCHASE. YOU UNDERSTAND THAT WE
MAY EITHER PAY OR ESCROW FUNDS TO
SATISFY ANY JUDGMENTS, TAX LIENS OR
CHILD SUPPORT AGAINST YOU OR THE
ASSIGNED ASSETS AND DEDUCT mOSE
AMOUNTS FROM THE PURCHASE PRl-cE. YOU
UNDERSTAND THAT WE WILL DEDUCT FROM
TIlE PURCHASE PRICE ANY AMOUNTS OF
PAYMENTS RECEIVED BY YOU PRIOR TO
FUNDING, IF SUCH AMOUNTS ARE NOT
COVERED BY TBEESCROWED FUNDS.
4. You promise Us that
Initial: .f # /l..
a. You will not, and will not allow any otbct party (txeeptUs Or Our assignee,
jf applicable) to take funcb away from the Assigned Assets, You wiU not
do aoytbin,g else to aC&ct the Assigned Assets. Yau will not say Yau still
Own the Assigned Assets. You will not do anything or allow anyone else
to do an)'tbing that could in any way iot:ertml with or lessen Our rights in
the Assigned Assets.
b. Yau will not do lUIything that will. or could in Ihe future, viola~ the
Release, or llDY of the qreements required. to be executed by this
Agreement. You also agree to cooperak with Us to help Us to obtain all of
the rights that We are buying from You in this A~ent and in the
Release.
c. You will give to Us at least thirty (30) days written notice of Your intention
to move Your residence or change Your legal address from the address in
Paragraph II of this Agreemcot.
d. You will not make any change in Your i.nstructions to the Annuity
Company regardiDg payments to be made to You.
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5
@20()5 321 I1eodmon RlICeivllb1es Limited Parmmhip
07/03/2006 14:48 FAX
~
J6 ~ENnORTH
~007/015
Account 10: 199715
e. You undermmd that the Annuity and the Release may say mal: You &gn.--e
not to sell Your rights to the Assipd Assets.
f. You agree to CODtinue to cooperate with Us. 'Ibis in~ludes Your obligation
to immediately doliver tc? Us any c:becb, funds or other form of payment
received after the dalE of this Agreement by Yau or anyone other than Us. If
any Payment is ever denied. delayed, or witbheld tram Us, as determined by
Us in our reasooab1e discretion, dinlctly or indirectly on account of any act
or omission by You or any person acting for You, then You shall be in
default under d1is Ap'eemeIIt <ad an Event of Default under ~8 shall be
deemed to have ~)- T1JlIIIediately upon such default, and without any
further natice to You. You will pay to Us the following amotlIIts:
(i) the fun, dollar value of all remlliniog Assigned Assets as they
become due after the da~ of the default;
AU of the remedies specified under this section shall be cumulative with all
of tile remedies for defalllt pursuant tEl SS.
g. If Yau learn before or after the signiDg of this Agreement of the threat or
actual begioniDg of any lawsuit or proceedi~ that has anything to do with
Our right! under this Agreement or the Assigned Assets, then You will
immediately notify Us oftltat and You will give Us copies of aU notices and
other \Witings relating to it promptly after You receive them.
;,
h. If You receive any notice relating to aoy supposedly unpaid claim affecting
the Annuity or the Assigned Asaets or to any other claim against the
Annuity or the Assigned Assets, then You wiu promptly notify Us and will
promptly give Us copies of all notices and other writings relating to it
received by You promptly after You receive them.
5. RIGHT TO CANCELLATION. YOU MAY CANCEL THIS CONTRACT
WITHOUT PENALTY OR FURTHER OBLIGATION WITHIN TWENTY-ONE DAYS FROM THE
DATE you RECEIVE PAYMENT FROM 321 HENDERSON. In order fur the cancellation to be
ef'fec:tive. You must mail a notice of cancellation by regi8tered or ~ertified U.S. mail, postmarked within
twenty-one (21) days of receipt oftne Purchase Price to Us, clo Vice President of Operations at 2215-B,
Suite 5, Renaissance Drive, Las Vegas, NV 891H~. F1Irtherm.ore, in order fbr Your notice of cancellation
to be effective, Your. registered or certified U.S. mail package to us must include a bank or cenified dleck:
for the full Purchase Price that We paid You under this Purchase Agreement Any failure to comply with
the above procedure'shall be a waiver of Your right to c:ancel this transaction.
6. Your Further Promises. You a,gree that, from tiDJ,e to time, at Your expense, You will
promptly sign and give to Us any and llll doc:urrients to help Us realit.e our rights and benefIts under this
Agreement This promise includes signing, filing or allowing Us to file financing or continuation
statematts" or amendments or assignments oftbo8e documents. You permit Us or others acting for Us to
. sjgn our name and/or your name and file without Your sigoature such financing statements, if that is
permitted in Your Itate of residence. When You sign this Aereement, You will also sign and deliver to Us
a "Special Irrevocable Power of Attorney" You must retain the servU:e.s of an attorney and deliver an
opinion of Your attorney about tbe sale of Assigned Assets to Us, in a form ac:ceptable to Us;,
r
IditiaJ: .f #/2.
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6
@2OOS 321 HmcIer30n Receivables Limifcd Partncr.lhip
07~03/2006 14:48 FAX
J6 WENUORTH
141 008/015
Account TO: 199715
7- CODtiDaation of ReD~1n.u. Warnnties .nd COVeDIDU. All of Your
representations, wamnties and promises made in this Agreement will continue to be relied on by Us after
this AlIl'ement is signed.
8. Eveat ofDelalllt. Your failure tx) comply with any term of this AgretmeJ1~or Your
breach ofany of Your ~ons in this Apeement will mean that You WI,t be in default. We refer to
. this as an "EWDt of Default n If there is an E'VeI1t of Detault, We haVE the right tx) sue You in court to make
You pecform Your promises or to get money from You. Your fllilure to comply with any material tenns of
this Agreement will be a default.
In Paragraph 4 (c) Yau agree tx) give US at least thirty (30) days written notice after Your move to
a new residente or change of Your legal address ftom the add:re.ss in Paragraph II of this Agreement {fwe
are P'1"hasing from You certain lump sum paymeots, We will contact you at leut 3 months before the
scheduIed payment is due to determine if the address cban&e We have effilctcd wifh the annuity company is
in place llJ1d tQ determine if Your legal address has remained the same. U We cr..naot contact you because
You have dUlnged Your legaladdnss or moved Your midenee aad failed to notify Us, We will
eOD8ider such failure to notify Us to be 8D EV1.NT OF DEFAULT and We 111m exen:ise 1111 or OUf
lepl rigbtJ uader this,Ag.-eemenL OUR RIGHT 1'0 PROCEED AGAINST YOU UNDER THIS
ACREEMENT mALL BE SOLELY LlMll'ED TO WHEN YOU HAVE COMMITfED AN
EVENT OF DEFAULT. WE SHALL NOT HAVE THE RfGHT TO SUE YOU IF OR BECAUSE
THE ANNUITY1:0MPANY IS NOT ABLE TO MAKE PAYMENTS BECAUSE IT IS NOT
FINANCIALLY ABLE TO DO so.
9. ControUine: Law. This Agrecmgn\ sba1I. be governed, c::onstnJed and enforced in
~rdance with the in1emallaws of the State of)'our domidle wimom regard for lhe conflicts of law rules
, thereof or elsewhere. (For Court Orders or Notic:e Transfers obtained in the following jurisdictions: AK.,
AR, AZ, CA, CO, CT, DE, FL, GA, In, IA, 10, IL, IN, KS, KY, LA. MA, MD, ME, MI, MN, MO, MS,
~~~m~~oo~~~~~m~~~~~~~~~~
jurisdictions shall be applied in the event of a dispute regarding the transfer.) Y our domici~e is the proper
place ofvenue to bring my action arismg out of a breach oftbis Agreement.
10. Responsibilitv for this .A,ereemcnL This Agreement will hold responsible Your heil'!,
executors, suc;cessors and assigns and win benefit Our representatives, successors, beneficiaries and
permitted assigns. Nothing in this Agreement is inten~ to give anyone other than You or Us or each of
Our successors or assigns any benefits.
II. Notices. All notices and ok commlDJicatioDS under this .\greement will be in writing
and win be made by delivery by means by which the sender obtaill5 a lUCipt of delivery tram the carrier
(including without limitatioo. certified mail return receipt requested or oyemight courier servites),
addressed to the party to whom a request or demand is to be made. Such demand or notice or request shall
be deemed given on the dare which is one busine~s day after the dale sent by overnight mail or three days
after the date sent by certified mail.
. The addresses of the parties are M fOllows:
If to You:
Stephen Rowe
212 3rd Street, Apt 1
New Cumberland, PA 17070
Initial: -.5 /1/<..
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7
@2005 321 lieauIer.Ion Rccc:ivables Limited Par1nCllhip
071.03/2006 14:49 FAX
JS IENTlORTH
\gj 009/015
Account ID: 199715
If to Us;
321 Henderson Ret:eivables Orjgination LLC
3993 Howard Hughes Parkway
SuitE 250
Las Vegas, NY 89109
Attention: Vice President - Operations
12. Past Actions. Anything either You. or We did or said before this Agreement was signed
w.ill not affect Your or OUr rights under this Agreement in aa:y way. .
13. ExlleUelL Except as otherwise lffinnativeJy set forth in this Agreement, You and We
aeree that we will each pay OlD' respec;ti.ve (:ostS and expeases in connection with the carrying out of this
Agreement.
14. HeadlDu. The section and subsection headings contained in this Agreement are for
reference purp<<)ses only and will not affect in any way the meaning or intel'p1~ion of this Agreement.
IS. Counteruarbl. One or more orlciuls oftfris Agreement may be signed with Your or Our
si~ When put together they will malc:e one agreemem and the Agreement will be considered signed
by aU parties that need to sign. A fa.csimile sigDature will be considered an original
16. AssltDlIDent. We aJld anyone to whom We assip thil5 Agreement may assisn Our right.
title and imc:rest. in. and to this Agreement. lite Annuity and the Assigned Assets without Your approval
You. ..d We agree that it there is an assipmeat by U, to someoac else, We shall not be responsible to
Yau. You mwt hok only to the person or c:ornpeny that We assip tbis Agreement to for any paymem (for
example, of the Purchase Price) and (Al.f01m11lCe of1his Acreern~ When asked by Us or any assignee,
You will .sign and deliver any such documents as We may require to perfonn this transaction, a.s assigned.
:.
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8
Initial: .>,11 /Z.
@ZOOS 321 HedcIerson ReceiV8blcs Limited Pannership
:.
07/.03/2006 14:49 FAX
JG WENTWORTH
.
~010/015
y :
Account 10: 199715
11. Yo., .DO". You and Your spouse are filJly aware of Your rights in the Assigned
Assets. You and Your spouse fully give up 1bose rights. You and Your spouse 1IDderstand that by selling
the Aasigned A.5sett to Us, You and Your spwse lire not nlCeiYiug tbe $BI11e amount of money ZI$ You
would if You waited for all of the scheduled Paymcms oCtile Assip.ed Asscu but, ra1her, are receiving a
diswunWd value in mum for receipt of the PurdIase Price immediately. You and Your spouse have valid
reasons for seUinS the Assigned Assets. You and Your spouse fully IDlderstand the terms of the Purchase
Agreement lDf UDdCrstaod that the sale of tbe AsRped Assets is filial You also lIDders1and tbat Yoqr
spouse gives up any property right he or she may baY'C m the AssigDcd Assets that Your spouse could claim
because of Your maniage.
18. Entire Al!nelJlenl. This Agreement and the E:lCbibita and other documents You signe.d
make up 1fJe entire understanding and agreement between You and Us about this Agreement. This
'Agreement rep*es all prior agreements, whether 1"IiUen or oral, abo\:lt this Agreement. This Agreement
may not be cbanged UDless in a writing sigDed by You and. Us.
19. LUoitalioD of Liabititv of 1IIner. You undeTatand that Our liability to ~ou under this
Agreement is strictly limited to dle requirement to pay the Purchase Price and under no circumstances will
'We be responsible for consequential damages.
20. COlIn A~rovlll. Yau undersbmd that court approval is required for this transfer.
Yau agree to cooperate with us to obtain such court a:pprovaJ.
21.
Exbibib.
Attached to this Purchll8e Agreement are the fonowing Exhibits:
Exhibit "A"
List ofWbat Paymen~ We are Buying.
Intending to.be,legally bound, You IIDd We"ve signed this Agreement lIS of the date at the top of
the first page of this Agreement.
321 HENDERSON RECEIVABLES ORIG1NA nON LLC
.
~IGNHERE I
Swora to and abseribed ,....-:' 10
befi me this Iff da of J cd.- .200_
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321 H~~~llbles Limited PartnIlrShip
07/-03/2006 14:48 FAX
J6 WENTlORTH
~011/015
Account 10: 199715
Edlibit A
:.
We tft hereby pun:hasing ftom Yau under the Annuity:
A) 12 MOIlthly paymenl$ of$804.00 eadt. beginning on Deeember 21, 20lS and ending on November 21, 20Hi B) 1 payment of
$15,000.00 on December 21, 2020 C) 25 Monthly pay.rnems of$804.oo eacb. beginnil'lg on December 21,2023 and ending on
December 21, 2025 D) 1 payment of $20,000.00 OD December 21, 2025 E) 83 Monthly paymel1t$ of$804.00 each, beginning on
Jinuary 21. 2026 -,d ending on November 21, 2032
~~~
Sk\!phen Rowe
~~GNHBRB
STAttOF Pf\' ; .
COUNTY OF <:. 1(,.,.6 a~ ;
On tIIis /5 ~.y of JC( t f , ZOO.fbefOn: me, the above signed penoMUy appeared before me, personally known to
.e in tile penon WbOfe name is subscribed to tbe within hQtrumellt and .~knO'ft'ledged to me that he executed it.
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\ .
J8 IENTWORTH
I4J 012/015
Account JD: 199715
~nULE 1 ,
DISCLuMiAR; STATEMENT
PLEASE BE ADVISED THAT THE PB.OP08n) TRANSACDON IS A SALE, NOT A WAN,
AND THAT YOU WILL BE SELLING ALL RIGIITS AND TITLE TO THE ASSIGNED ASSETS
ONCE THIS TRANSAcnON IS CONSUMMATED. PLEASE BE ADVISED THAT YOU MAY
BE SUBJECI' TO ADVERSE FEDERAL AND STATlINCOME TAX. CONSEQUENCES AS A
:M8l1LT ()Ii'THE PROPOSED TRANSA.crION. YOU SHOULD CONSULT YOUR OWN
~ A.CC01JNTANT, OR FINANCIAL ~VISOR REGARDING ANY FEDERAL OR
Sl'ATJ: INCOME TAX CONSEQUENCESAIUSlNG FROM THE PROPOSED TRANSFER.
YOUR PURCHASE PRICE WAS DERIVED ASSUMING A DISCOUNT RATE
SlGND'ICANTLY HIGHER THAN THE PRIME INTEREST RATES CHARGED BY
COMMERCIAL BANKS, THEREFORE, WE URGE YOU TO EXPLORE ALL FINANCIAL
OPllONS.
WE WILL PURCHASE FROM YOU A) 12 MOIItbIy p81IIIeab of 5804.00 eaelll, beginning on
Deeember 21, 2015 and euding on November 21, 2016 B) 1 paymeat of 515,000.00 OD December 21,
2020 C) 15 Monthly paymenu of $804.00 ...., hgiaDiag 08 December 21, 2023 aDd eadiBg on
December 21t Z025 D) 1 payment of 520,000.80 011 Decemller 21, %025 E) 83 MoDthly paymeoq of
$814.00 eadI, .,.....iag OD Jan_ry 21, 2026 ud eadlng on NDftlDber 21,2032
THE AGGREGATE AMOUNT OF THE PURCHASED PA~NTS IS 5131,480.00.
THE DlSCOUNTED PRESENT VALUE OF THE AGGREGATE PAYMENTS AT 6.00% IS
542,65737. THE DISC01JNl'ED PRESENT VALUE IS THE CALCULATION OF THE
CURRENT VALUE OF TIlE TRANSFERREDSl'RUC'l'URED SETl'LEMENT PAYMENTS
UNDER FEDERAL STANDARDS FOR VALUING ANNUITIES. THE GROSS AMOUNT
PAYABLE TO SET ,I .1i:1{ IS $21,000.00.
.
THE FOLLOWING EXPENSES ARE INCURRED BY THE SElLER (YOU) AND WR.L BE
DEDUCTED FROM THE PURCHASE PRICE:
COMPLIANCE AND ADMINISTRATIVE FEE: $500.00
FILING AND RELATED EXPENSES FEE: $0.00
THE NET AMOUNT PAYABLE TO THE SELLER(YOU) IS SZO,500.00. . NO OTHER
EXPENSES ARE INCURRED BY YOU.
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AC(:()UOl JD: 1997] 5
SCRD)t]LE 1. PAGE :1
THE DlSCotJNTEp PRESENT V ALlJE 01' PAYMENTS SHALL BE CALCULATED AS
FOILOWS~ THE APPuCABLE FEDERAL RAn USItD IN CALCULATING THE
DISCOUNTED PRrr..BENT VALUE IS 6.08%.
THE EFFECTIVE ANNUAL DISCOUNT RATE FOR THIS TRANSACOON IS 10.33%. TIlE
CASH PAYMENT YOU RECEIVE IN THIS TRANSACTION FROM US WAS DETERMINED
JJY .APPLYING THE SPE'-.;l1IlUJ EJ1I'EC'l1VE ANNUAL DISCOUNT RATE, COMPOUNDED
MONTHLY, TO TIlE TOTAL AMOUNT 01' nrruu PAYMENTS TO BE RECEIVED BY us,
LESS TBJ: TOTAL AMOUNT OF COMMISSIONS, FE:u, COSTS, EXPENSES AND
CHARGES PAYABLE BY YOU.
:.
THE NET AMOUNT THAT YOU WD..L RECEIVE FROM us IN EXCHANGE FOR YOUR
PVTURE smtJCTURED SETI'LEMENT PAYMENTS REPRESENTS 48.10% OF THE
DTIMATED CURRENT VALlIE OF TIlE PAYMENTS BASED UPON THE DISCOUNTED
VALUE USING THE APPLICABLE FEDERAL RATE.
THE QUOTIENT OBTAINED BY DIVIDING THE NET PAYMENT BY THE DISCOUNTED
PRESENT VALUE IS 48.10%.
BASED ON TBJ: NJ:T AMOUNT THAT YOU WILL RECEIVJ: FROM US AND THE
AMOUNTS AND TIMING OF THE STRUCTURED-SJ:1TLEMENT PAYMENTS THAT YOU
ARE TURNING OvtR TO US, YOU WILL, IN D'FECT, BE PAVING INTEREST TO US AT A
RATE OF
10.33% PER YEAR. THE NET AMOUNT PAID TO YOU (THE PAYEE) BY US (THE
TRANSFEREE) Rf'PRESENTS AN ESTIMATE OF THE FAIR MARKET VALUE OF THE
FUTURE PERIODIC PAYMENTS TRANSRRRED UNDER.nIE STRUCTIT.RED .
SEITLEMENT AGREEMENT.
;,
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., ~
JG WENTWORTH
~014/015
ACCOwtt 10: 19971.5
SCIUIMlLE 1~ PAGE 3
NOTICE OF CANCELLATION RIGHTS:
YOU MAY CANCEL THIS TRANSA\.;HU1,. AT ANY TIME PRIOR TO 5:80 P.M. OF THE
TWENTY-FIRST DAY FOLLOWING TIlE LATJ:R OF THE EXECUTION OF TIlE
PURCHASE AGREEMENT, OR THE DATE TBJ: PAnE BECOMES OBLIGATED UNDER
THE PURCHASE AGREEMENT WITROOTPJ:NALTY OR FURTHER OBLIGATION.
THIS CANCELLATION RIGHT CANNOT BE WAIv:ED IN ANY MANNER.
1'0 CANCEL, YOU MUST PROVIDE WlUT'I'EN NonCE TO THE TRANSFEREE. WRITTEN
NOTICE SII01JLD BE MAILED OR DEI..IVDm TO THE ADDRESS BELOW BY 5:00 P.M.
OF (TIlE TWENTY-FIRST DAYFOLLOWlNG THE TRANSAcrION). IT IS
BEST TO MAlL IT BY CERTD'IED MAIL, RETURN RECEIPT
REQUESTED, AND TO KEEP A PHOTOCOPY OF'I'H.E SIGNED FORM AND YOUR POST
OFFICE REL.l!aYf. ADDRESS TO WHICH CANCELLATION IS TO BE RETURNED:
311 HENDERSON RECEIVABLES ORIGINATION LLC
3993 HOWARD HUGHES PARKWAY
SUITE :l5O
LAS VEGAS, NY 89109
ATI'ENTION: VICE PRESIDENT - OPERATIONS
IMPORTANT NOTICE: YOU ARE STRONGLY URGED TO CONSuLT WITH AN
AITORNEY WHO CAN ADVISE YOU 01' THE POTEN'I1AL TAX CONSEQUENCES OF
THIS TRANSAcrtON.
:.
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~ .
J6 WENTWORTH
I4i 015/015
Account ID: ]99715
SrAII!Dm.li!l.PAGE 4
.
PLEASE BE ADVISED THERE ARE NO PENALTIES OR UQUlDATED DAMAGES
PAYABLE BY YOU IN THE EVENT OF ANY BREACH OF THE TRANSFER AGREEMENT
BY YOU. T.IIERE ARE NO BROKERS COI~N5, SERVICE CHARGES,
APPUCATION FEES, PROCESSING n:a, o,oSlNG COSTS, I'lLING FEES,
ADMINISTRATIVE FEES, LEGAL FEES, NOTARY RES AND OTHER COMMISSIONS,
FEES, COSTS, EXPENSES ANDCBARGU PAYABLE BY YOU OR DEDUCTED FROM
GROSS AMOUNT OTIIERWISE PAYABLE TO YOU OTHER THAN THE COMPLIANCE
AND ADMINISTRATIVE FEE AND THE FD..ING AND RELATED EXPENSES FEE.
IF YOU BELIEVE YOY WERE TREATED UlQ'AJRLY OR WERE MISLED AS TO THE
NATURJ: OF TBOBUGATIONS YOU ASRTMED 'UPON ENTERING INTO TIDS
AGREEMENT, YQU SHOULD REPORT TBOSE CIRCUMSTANCES TO YOUR LOCAL
DISTRICT ATTORNEY OR THE OFFICE OF THE AlTORNEY GENERAL.
TJD: EFFECTIVE DATE OF THE TRANSFEllAGREEMENT SHALL BE DEEMED TO BE
THE DATE THAT THE AGRJ:EMENT WAS SIGNED BY TBE YOU (PAYEE).
PLEASE BE ADVISED THAT PAYMENT TO YOU PURSUANT TO THE TRANSFER
AGREEMENT IS CONTINGENT UPON COURT APPROVAL OF THE TRANSFER
AGREEMENT. ~
PLEASE BE ADVISED THAT PAYMENT TO YOU WILL BE DELAYED UP TO 30 DAYS OR
MORE IN ORDER FOR THE COURT TO REVIEW AND APPROVE THE TRANSFER
AGREEMENT.
BY SIGNING BEWW YOU ARE CONFIRMING RECEIPT OF THIS DISCLOSURE AT
LEAST to DAYS PRIOR TO RECEIPT OF THIS CONTRACI'.
~
STEPHEN ROWE
<3IGN HERE
~
. ..... ~
EXHIBIT
"B"
'- ~~-
321
HENDERSON RECEIVABLES
LIMITED PARTNERSHIP
March 24, 2006
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
Attn: Legal Department/Structured Settlements
New York Life Insurance And Annuity Corporation
51 Madison Avenue
New York, NY 10010
Attn: Legal Department/Structured Settlements
RE: Notice of Sale/Assignment of Payment Rights
Your Contract #: FP208313
Payee: Stephen Rowe
SS #: 589-22-5278
Dear Insurer:
Please be advised that 321 Henderson Receivables Limited Partnership and/or its successors and
assigns, have entered into a transaction with the above-referenced annuitant who is seeking to
transfer certain ofhislher rights to the payments scheduled to be received under the above-
referenced annuity policy. We are currently seeking court approval pursuant to the applicable
structured settlement transfer statute. Pursuant to the statute, please note the foHowing
infonnation about the Purchaser:
321 Henderson Receivables Limited Partnership
40 Morris Ave
Bryn Mawr PA 19010
Tax ID #88-0513164
PLEASE NOTE: No payments under this annuity should be held until the courts have entered a
final order and we have forwarded this order to you.
Very truly yours,
By:
2215-B RENAISSANCE DRIVE. suite 5 . LAS VEGAS, NV 89119
PHONE: 800-454-9368. FAX: (215) 567-7525. E-MAIL: JGWlii'lJGWFUNDING,COM
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DUGALIC & LANDAU, LLC
Mark Landau, Esquire
Attorney I.D. No, 90757
634 Ridgewood Road
Upper Darby, PA 19082
(610) 352-1322
IN 1m: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
,2006
Cl9' 1'1fo~ C;v~ \ k~M
: No.
CERTIFICATE OF SERVICE
It is hereby certified that on this '1 ~ day of July. 2006, a copy ofthe
Proposed Transfer of Structured Settlement Payment Rights has been mailed by U. S,
First Class Certified Mail to the following:
321 Henderson Receivables
40 Morris Avenue
Bryn Mawr, PA 19010
New York Life Insurance and Annuity Corporation
51 Madison Avenue
New York, NY 10010
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
DUGALIC & LANDAU, LLC
Mark Landau, Esquire
Attorney I.D. No. 90757
634 Ridgewood Road
Upper Darby, P A 19082
(610) 352-1322
IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
, 2006
: No. <tJ~/ /9~~ (:v~ ( ~~
CERTIFICATE OF SERVICE
It is hereby certified that on this 5" day of 1", ('I ,2006, a copy of the
Proposed Tmnsfer of Structured Settlement Payment Rights has been mailed by U. S.
First Class Certified Mail to the following:
321 Henderson Receivables
40 Morris Avenue
Bryn Mawr, PA 19010
New York Life Insurance and Annuity Corporation
51 Madison Avenue
New York, NY 10010
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
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IN RE: STEPHEN ROWE
: CUMBERLAND COUNTY
: COURT OF COMMON PLEAS
C,,,\\.. ,2006
: No, Ofo - \'\ 105'
\+i ORDER
AND NOW, this 1. e day of r ~ \ '1 ' 2006, the Court having
considered the Petition of Stephen Rowe for the transfer of structured settlement payment
right pursuant to 40 P,S. 4001, et seq. And the interested parties to this action as defined
by 40 P,S, 4002 are as follows:
1. The Payee:
Stephen Rowe
212 3rd St., Apt. 1
New Cumberland, P A 17070
2, Annuity Policy Owner:
New York Life Insurance and
Annuity Corporation
51 Madison Avenue
New York, NY 10010
3, Annuity Policy Issuer:
New York Life Insurance Company
51 Madison Avenue
New York, NY 10010
4. Transferee:
321 Henderson Receivables
Origination, LLC
3993 Howard Hughes Parkway
Suite 250
Las Vegas, NV 89109
The Court, upon such Petition hereby makes the following findings:
1. The 1:raI1Sfer sought to be approved complies with the requirements of the Structured
Settlement Protection Act, 40 P,S. 4000, et seq. and will not contravene any other
applicable law;
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2. Not less than ten (10) days prior to the date on which Petitioner first incurred any
obligation with respect to the transferee, 321 Henderson Receivables Origination,
LLC has provided to Stephen Rowe a disclosure statement as required by
Pennsylvania Statute 40 P.S, 4003 (aX2);
3. The transfer does not contravene any Federal or State statute or the Order of any court
or responsible administrative authority;
4. The best interest of Stephen Rowe would be served by granting the relief requested
herein so that Stephen Rowe may be able to purchase a new home;
5. 321 Henderson Receivables has served written notice, including its name, address,
and tax identification number, to the structured settlement obligor and has served
written notice as required by Pennsylvania Statute 40 P ,So 4004 upon aU interested
parties, none of whom have objected to the transfer.
Based on the foregoing [mdings, it is hereby ORDERED that the transfer of
structured settlement payment rights, as described in the purchase agreement filed with
the application in this matter, is hereby APPROVED, and no party to this proceeding
shall hereafter refuse to honor this approved transfer.
In exchange for a lump sum in the amount of$21,000,00 made payable to
Stephen Rowe by 321 Henderson Receivables Origination, LLC, New York Life
Insurance and Annuity Corporation and New York Life Insurance Company are
hereby AUTHORIZED to remit 12 monthly payments of $804,00 each, beginning on
12121/2015 and ending on 11/21/2016; 1 payment of $ 15,000,00 on 12121/2020; 25
monthly payments of $804,00 each, beginning on 12/21/2023 and ending on 12/21/2025;
1 payment of $20,000,00 on 12121/2025; and, 83 monthly payments of $804,00 each,
beginning on 1/2112026 and ending on 11/21/2032, to:
321 Henderson Receivables Origination, LLC
3993 Howard Hughes Parkway, Suite 250
Las Vegas, NY 89109
Tax I.D, #: 88-0513164
The Transferee shall be liable to the Structured Settlement Obligor and to the Annuity
Issuer:
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a, If the transfer contravenes the terms of the structured settlement, for any taxes
incurred by the Structured Settlement Obligor or the Annuity Issuer as a
consequence of the transfer; and
b. For any liabilities or costs, including reasonable costs and attorneys' fees,
arising from compliance by such parties with this order of the Court or arising
as a consequence of the Transferee's failure to comply with the Act,
The Structured Settlement Obligor and Annuity Issuer shall irrevocably change the
beneficiary for the Transferred payments to the Transferee, ands no other individual or
entity other than the Transferee shall have the authority to change beneficiary for the
Transferred Payments,
This Order is entered without prejudice to New York Life Insurance and
Annuity Corporation and New York Life Insurauce Company and the Court makes
no finding regarding the enforceability of any non-assignment provision(s) contained in
the original settlement agreement or related documents. This Order in no way modifies or
negates the ownership or control of the underlying contract with New York Life
Insurance and Annuity Corporation and New York Life Insurance Company,
By the Court:
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