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HomeMy WebLinkAbout94-00971 - ~ ~ .~ I ~'\ \ ) / / /' ,/ /' , I I , -r cJ a- -I I I i J' ~: ..::.)....., \l'--. .f\ ~ ~(\ I.!\ :;: " '.J i '~ ~ ~ ~ ",J <Q... .... ~ ~ ~ ~ -::r en ~~ CJ ::J ~J Cl ~tD ~ 10) ,<::::l J", :r.= -.:-r " r- ... "".:::":) VI ::t- '\') "'" .~ :1= CV:;"\ . \ "., ..) ", . MCNEt:S. WALLACE & NURICK IOD PlIH: 91ACF: T ,. 0 liCk Il(Of IIA,nnl:inUR/4, I'A 1 "lion DICKINSON COLLEGE, Plaintiff . . , . IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION - LAW v. CHARLES W. KAY, Defendant NO. q1/ C,'V. I /'19,/ NOTICE You have been sued in court. If vou wish to defend aaainst the claims set forth in the followina oaaes, vou must take action within twentv (20\ davs after this comolaint and notice are served. bv enterina a written aooearance oersonallv or bv attor- nev and filina in writina with the court vour defenses or obiec- tions to the claims set forth aaainst vou. You are warned that if you fail to do so the case mav oroceed without vou and a judament mav be entered aaainst vou bv the court without further notice for anv monev claimed in the comolaint or for anv other claim or relief reauested bv the olaintiff. You mav lose monev or Drooertv or other riahts imDortant to vou. 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. COURT ADMINISTRATOR Cumberland County Court House Fourth Floor Carlisle, PA 17013 (717) 240-6200 McNEES, WALLACE & NURICK By1~()()- Brett D. Davis LD, No. 62668 100 pine Street P. O. Box 1166 Harrisburg, PA 1710B-1166 (717) 232-8000 Attorneys for Plaintiff Dickinson College DICKINSON COLLEGE, : IN THE COURT OF COMMON PLEAS Plaintiff CUMBERLAND COUNTY, PENNSYLVANIA v. CIVIL ACTION - LAW CHARLES W. KAY, . NO. q7/ C J1Qt.f . Defendant COMPLAINT NOW COMES, Plaintiff, Dickinson College (hereinafter "Dickinson"), by its attorneys, McNees, Wallace & Nurick, and files the within Complaint against Charles W. Kay. In support of its Complaint, Dickinson states as follows: 1. Plaintiff, Dickinson, is an educational institution of higher learning which maintains an address at P.O. Box 2896, Carlisle, Pennsylvania 17013. 2. Defendant, Charles W. Kay, is an adult individual whose last known address is 9401 Winding Ridge, Gwynedd, Pennsylvania 19436-0204. 3. On or about October 1, 1984, the Defendant entered into an Educational Goods and Services Retail Installment Contract (hereinafter "Contract") for expenses incurred for goods and services to be provided and rendered to his son, Timothy Kay, by Dickinson during the 1984-1985 academic year. A true and correct copy of the First Contract is attached hereto and made a part hereof as Exhibit "A". ,.. ,. , tr;<f';~"1t:L""",,~"'~'1'''''~'''. I I I I .' < COUNT I 4. paragraphs 1 through 3 are incorporated herein by reference thereto. charged." 7. The Contract further provides that if an event of default of the Contract occurs, and is not cured by the borrower, Dickinson had "the right to declare all sums due on the Contract to be immediately due and payable." 8. On or about March 15, 1990, the Defendant defaulted on his obligation under the Contract by failing to make the required monthly payments when due. 9. In accordance with the terms of the contract, Dickinson has declared the Contract to be in default. The total amount which became due and owing to Dickinson by the Defendant pursuant to the Contract is six Thousand One Hundred Ninety-Eight Dollars 5. Under the terms of the Contract, Defendant agreed to pay Dickinson Seven Thousand Dollars ($7,000.00) with interest at the initial rate of 13.998% per annum in one hundred fifteen (115) equal monthly installments of One Hundred Ten Dollars and Eighty-Seven Cents ($110.87) commencing on November 1, 1984. 6. The Contract further provides that "[i]f a payment is more than 15 days late, a sum equivalent to 5% of the late payment (but no more than $2.50 and not less than $1.00) may be - 2 - and Thirty Cents ($6,198.30), which amount includes interest through December 8, 1993, 10. Dickinson has demanded payment of the obligation owed to it by Defendant, but the Defendant has failed and refused to do so. 11. Defendant has been credited all payments made pursuant the terms of the Contract. WHEREFORE, plaintiff demands judgment against Charles W. Kay in the sum of six Thousand One Hundred Ninety-Eight Dollars and Thirty Cents ($6,198.30), plus interest at $.846 per diem from December 9, 1993, until the Defendant's obligation is paid in full, plus costs of suit, which sum does not exceed the jurisdic- tional limit for compulsory arbitration. COUNT II In the alternative, if this Honorable Court should determine that an express contract between the parties does not exist, which is denied, Plaintiff pleads the following: 12. Paragraphs 1 through 3 inclusive are hereby incor- porated herein by reference. 13. Having requested Dickinson College to loan money and doing so to the benefit of Defendant, Defendant became liable to Dickinson College for said money. - 3 - 14. The Defendant has been unjustly enriched by accepting said money without paying Dickinson College reasonable compen- sation therefor. 15. The total amount by which the Defendant has become enriched, considering all payments made by Defendant to Dickinson College pursuant the terms of the Contract, is six Thousand One Hundred Ninety-Eight Dollars and Thirty Cents ($6,198.30). 16. Dickinson College has demanded that the Defendant pay this amount but the Defendant has failed and refused to do so. WHEREFORE, Plaintiff demands judgment against Charles W. Kay in the sum of six Thousand One Hundred Ninety-Eight Dollars and Thirty Cents ($6,198.30), plus interest and costs of suit, which sum does not exceed the jurisdictional limit for compulsory arbitration. MCNEE~LLACE NURICK By . 1J4(j _ Brett D. DaV1S 1.0. No. 62668 100 Pine street P. O. Box 1166 Harrisburg, PA 17108-1166 (717) 232-8000 Attorneys for Plaintiff Dickinson College Dated: ~.I/-'L4~ - 4 - ......- '..':''7'"'' <;~.: ,"""";,...,'.. . " ,,'t~ - , VERIFICATION subject to the penalties of 18 Pa. C.S. 54904 relating to unsworn falsification to authorities, I hereby certify that I am Thomas B. Meyer of Dickinson College, and I am authorized to verify this Complaint on its behalf, and further, that the facts set forth in the foregoing Complaint are true and correct to the best of my information and belief. <>>75-"- ThO-mas B. eyer Dated: " r' H ' " t>Y<',,":.-"- re-~':<'f;""~;",~ ... -'.if .....~ Exhibit "A" .....~ . r r t:.iGT c: ~,t..., DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - 7000 PLAN EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT Date October I, 1984 / I. Seller: Dickinson College, Carlisle, Pennsylvania 17013 8uyer(s): Charles Kav 9401 Windin2 Rid2e. Dallas. TX 75238 If there is more than one Buyer, each of you will be obligated, jointly and severally, for all sums due and for the performance of all agreements as provided in this Contract. Under the terms of this Educational Goods and Services Retail Install- ment Contract, you have agreed to pay the expenses incurred for goods and services to be provided and rendered, as the case may be, to Timothv (hereinafter "Student") during his/her enrollment at Dickinson College during the lqR4-R~ academic year. including tuition._ room and ,board, boo.k.s,and supplies as herein stated (hereinafter the "Goods and Services").. - _..- --.-.- The Goods and Services shall include only the following: Tnirinn An.! room and board II. TERMS OF PAYMENT AND PAYMENT SCHEDULE Disclosures Required by Federal Law ANNUAL FINANCE AMOUNT FINANCED: TOTAL OF TOTAL SALE PERCENTAGE CHARGE: Amount of credit PAYMENTS: PRICE: RATE:'" Dollar amount provided by Amount paid Total cost of Cost of credit credit will Dickinson College by Buyer as purchase on as yearly rate 1 cost Buyer total of all credit, in- scheduled cluding down payments payment of $ 4.040.00 13.998 % $ 5.750.05 $ 7.000.00 $ 12.750.05 $ 11.040.00 , r r Buyer's payment schedule will be as follows: Number of Pa ents Amount of Pa ments ; When Pa ents Are Due 115 Monthly commencing November 1, 1984 until May 1, 1993 110.87 *Variable Rate: The ANNUAL PERCENTAGE RATE disclosed above is a variable rate and may change. The ANNUAL PERCENTAGE RATE may increase during the term of this transaction if the prime rate of interest announced in the Wall Street Journal as of the close of business on June 30 of each calendar year increases, and will be increased to the prime rate plus 1%. The ANNUAL PERCENTAGE RATE will not increase more than once a year, and the new interest rate will become effective on July 1 following the - - ~ -, - increase, if any. - in the prime rate of interest~ - Ariy- increase' will be in the form of higher payment amounts. If your cost of the Goods and Services sold hereunder were $7,000.00 at 14 % per annum for 115 months, and the prime rate plus 1% were increased to 15 "%;Your regular monthly payments would increase to $ 115.07 Further, the ANNUAL PER- CENTAGE RATE will not increase to more than 18% or such other rate as may be permitted under the Pennsylvania Goods and Services Installment Sales Act. Late Charge: If a payment is more than 15 days late. a sum equivalent to 5% of the late payment (but no more than $2.50 and not less than $1.00) may be charged. Prepayment: Buyer may prepay the unpaid balance of the Amount Financed and any FINANCE CHARGE due through the date of early payment, in full or in part, without penalty. SEE SECTION VI OF THE CONTRACT BELOW FOR ANY ADDITIONAL INFORMATION ABour NON- PAYMENT, DEFAULT AND REQUIRED REPAYMENT BEFORE THE SCHEDULED DATE FOR REPAYMENT OF THE AMOUNT FINANCED. -2- r r III, ITEMIZATION OF AMOUNT FINANCED 1. Cash price of Coods and Services: $ 11,040.00 2. Total do\o/n payment: 4,040.00 3. Unpaid balance of cash price (1 - 2): 7,000.00 4. Amount paid to others on Buyer's behalf: ,00 5. Amount Financed (3 + 4): $ 7,000.00 IV. CREDIT INSURANCE Credit life insurance for the term of this Contract is not required. V. NO WARRANTIES . . THERE. ARE NO~ARRANTIES, EITHER EXPRESSED OR. IMPLIED, GIVEN BY SEl.LER~I!l==,~ CONNECTION WITH SALE OF THE COODS AND SERVICES COVERED BY THIS CONTRACT UNLESS BUYER HAS BEEN CIVEN A SEPARATE WRITTEN WARRANTY. VI. ADDITIONAL PROVISIONS 1. Buyer agrees to pay Seller the Total Sale Price by making the total do\o/n payment and paying Seller the Total of Payments in the number and amount of monthly payments shown in the Payment Schedule. Payments are due on or before the same date of each month as the first payment date, Payments must be made to Industrial Valley Bank at the following address: Industrial Valley Bank P,O. Box 433 Upper Darby, Pennsylvania 19082 2. Buyer's legal rights include the right to pay all or part of the amounts due on this Contract in advance of their due dates, to obtain a refund or credit of unearned Finance Charge whenever the amount is paid in full in advance, and (with Seller's consent) to reinstate the Contract if Buyer timely cures any default. 3. Buyer shall be deemed to have committed an "Event of Default" of the Contract upon the occurrence of any of the following: (a) failure to make any payment on or before the date it is due, (b) failure to make a payment on any other contract outstanding with Seller, -3- I " r ("' (c) failure to perform any other provision of the Contract, (d) providing Seller with false information or signatures, (e) death, incompetence, or conviction of any Buyer of crime in- volving fraud or dishonesty, (f) insolvency or bankruptcy of any Buyer, 4. Upon or after the occurrence of any Event of Default, Seller will provide Buyer with notice, by certified mail as required by law, addressed to Buyer's last known address as shown on Seller's records, advising Buyer of the default and of Buyer's right to cure the default, The notice will provide the time, amount and performance necessary to cure the default. If Buyer does not cure the default as provided in the notice, Seller's rights shall include the right to declare all sums due on the Contract to be immediately due and payable. 5. Waiver by Seller of any event of default shall not be binding upon Seller if Seller should thereafter choose to exercise that or any other right or a similar Event of Default occurs later. All Seller's rights and remedies shall be cumulative. Seller's exercise of one or more rights shall not cause Seller to lose any other rights. -..----.--.... .. - .- - ..-.-- - 6. This Contract is freely assignable by Seller. Buyer agrees that upon receiving notice of the assignment Buyer shall be obligated to the Assignee of this Contract, which Assignee shall have all of Seller's rights and remedies. 7. If any part of this Contract is held to be illegal, void or unenforceable, that provision shall be deemed not to have been a part of this Contract, which shall otherwise remain fully effective. 8. The laws of the Commonwealth of Pennsylvania shall apply to this Con- tract except to the extent supplemented, superseded or pre-empted by federal law. ,9. This Contract shall be binding upon the parties hereto, their heirs, successors, assigns and legal representatives, 10. TIME IS OF THE ESSENCE OF THIS CONTRACT. NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF, RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. NOTICE TO BUYER: (1) DO NOT SIGN THIS AGREEMENT BEFORE YOU READ IT OR IF IT CONTAINS ANY BLANK SPACE, (2) YOU ARE ENTITLED TO A COMPLETELY FILLED-IN COPY OF THIS AGREEMENT. (3) UNDER THE LAW, YOU HAVE THE RIGHT TO PAY OFF IN ADVANCE -4- r r THE FUll. A.'lOUNT DUE AND UNDER CERTAIN CONDITLONS TO OBTAIN A PARTI,\!. REFUND OF THE FINANCE CHARGE. BUYER(S) ACKNOWLEDGE(S) RECEIVING A COMPLETED COPY OF THIS CONTRACT AND INTEND(S) T BE LEGALLY BOUN BY ITS TERMS. ~ BUYER(S) : DATE: DICKINSON COLLEGE ,o(:Llql{ By ~l~Jj )fl~ _._...~------ -- ..- .. -- - - - - -~- ... --.- _...~ - - -, - -- -. - ::... --,. ~ .._- -'--_..._..'_._"-'._-'-~._'.-' _.. - - - _. - .- -- ----. --- - -. FOR DICKINSON COLLEGE USE ONLY For value received, Seller hereby sells, assigns, and transfers to Industrial Valley Bank and Trust Company all of Seller's rights, title and interest in this Educational Goods and Services Retail Installment Contract, with full recourse to Seller. This q day of a.<-~ TITLE DICKINSON'COLLEGE, BY: . -5- . .~r_ ,'z"ll " ........ ~~;.~ SHERIFF'S RETURN COMMONWEALTH OF PENNSYLVANIA COUNTY OF CUMBERLAND In the Court of Common Pleas of Cumberland County, Pennsylvnaia No. 971 Civil Term 1994 Complaint in Civil Action Law and Notice Dickinson College VS Charles W. Kay R. THOMAS KLINE, Sheriff, who being duly sworn according to law, says, that he made diligent search and inquiry for the within named defendant, to wit, Charles W. Kay but was unable to locate him in his bailiwick. He therefore deputized the sheriff of Montgomery County, Pennsylvania, to serve the within Complaint in Civil Action Law and Notice On March 18, 1994 , this office was in receipt of the attached return from Montgomery County, Pennsylvania. Sheriff's Costs, Docke ting Out of County Surcharge Montgomery Co. So answers., " ..,../ -; ;/' . . /-:;;;. ~0~-4L ,//;gf'? %. THOMAS KLINE, Sheriff Sworn 14.00 5.00 2.00 30.00 51.00 Pd. by Atty. and subscribed to be1t-ol&-%fe this .2'1 !&- day of lit.. .L___ 19 q"( ,A.D. ChLL- a ~,~. ,~. Prothonotary 3-8-94 @ 11:40: per Montgomery County Police Radio, no such street in Montgomery County. "L . ,'~ .... ,.. , - . . . :l P- 1067 DATE March 16. 1994 NUMBER COMMONWEALTH OF PENNSYLVANIA COUNTY OF MONTGOMERY Dickinson College VS Char lea W. Kay 9401 Winding Ridge Gwynedd, PA NO SERVICE SO ANSWERS ...,....,....... FRANK P. LALLEY SHERIFF OF MONTGOMERY COUNTY BY W. Galluzzo DEPUTY MEMO, SO f.... 032.1 May ao '.''0.. ".-'..'.-' ,'. :., :";'.;-~' ;'.'..'.'.. ,<:""......"';'-',;..~.:;,;."~~1...;.".;..,..-...;....._'''.1..,,j \. -- . ,..", ...,._.~...~ ..,.~....,..__."..,.. -,.".." 1- 1"'- COU'" CT C-m........"" rl",-" -r ,-....,,-,:,r':...nd..'....-..'I ?'I:.~r:C!yl'I...-I'- ... -:.~ rJ. ....,., I........" ~ --~...... 'w...."..._........_, "-'..,.,....11 ....,.... ~j.... . Dickinson College . . .,-S. Charles W. Kay ~o, 971 Civjl Term 1994 :?- :-iow, March 02. 1994 ~9_ !, SEZ?..!:~ O:? C~G:::::...!..A...'ID cot.~,:,y. ?~ co h=--by c...:;UC::: = .sa::~ oi Montqomery C:lu::.ty :0 ::::='.1:: .:";.. '.V:::, .:..:. "':-u-=' \._:.,~ -....:- ... .:..- -,- ~ _:- _..~ _ _ ...~""""'Ilo ::C1 ::u Ot :.::: :::n~:_=. r~~ Sile.o::f of C::::!:er'.:md C~Ul117. :>3- . A.'sdavit or - . :::e:"'71C:! So =w=. Shc:i:i of CaIUltT. no Swo::1 =:i sul::sc:-.:D::i bCcm: = :!:is _ c!:ly of 19_ COSTS saVIO: :MILZAGa .3 A::wA.yu s r_ -.-.I r~" ~'~~'r-fo/:-':, DICKINSON COLLEGE, . IN THE COURT OF COMMON PLEAS . Plaintiff : CUMBERLAND COUNTY, PENNSYLVANIA . . v. . CIVIL ACTION - LAW . CHARLES W. KAY, NO. 971 (,iv. j Iqq'f Defendant NOTICE You have been sued in court. If yOU wish to defend aaainst the claims set forth in the followina oaaes. vou must take action within twentv f201 davs after this comolaint and notice are served. bv enterina a written aooearance personallY or bv attor- nev and filina in writina with the court your defenses or obiec- tions to the claims set forth aaainst vou. You are warned that if YOU fail to do so the case mav oroceed,without YOU and a iudament mav be entered aaainst YOU bv the court without further notice for any monev claimed in the complaint or for anv other claim or relief reauested bv the plaintiff, You mav lose monev or orooertv or other riahts important to vou. T'.,'..- I~,'.'t,; Ct't,'~V .......r ., ... Jr-r. ,! *"'0,_ rn '~j:;i';Ti~''''~, ;. ..~...J"'"' "'U'COR- i'" "I;" .j . ""'1 ~'''.J(I~:''~;''I ~r~:I.tt" t. - ;',1 '.-:) .!\.~ ~~1f ,'t ,........ ~ 'Un.l.\IJfm.'h"lnd f. -' ' ..,.'./ ' "'I "I ~ J "" illS .0 J: . v,''. t;~ril"ie ~ ~/,;daY~_!l2$/f:lg ji;; ----.:::/ PrO/honorary :::: 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. COURT ADMINISTRATOR Cumberland County Court House Fourth Floor Carlisle, PA 17013 (717) 240-6200 McNEES, WALLACE & NURICK By ~~()()~ Brett D. Davis 1.0. No. 62668 100 pine Street P. O. Box 1166 Harrisburg, PA 17108-1166 (717) 232-8000 Attorneys for Plaintiff Dickinson College DICKINSON COLLEGE, . IN THE COURT OF COMMON PLEAS . Plaintiff . CUMBERLAND COUNTY, PENNSYLVANIA . . . v. . CIVIL ACTION - LAW . : 971 C 119 'I CHARLES W. KAY, . NO. . Defendant . . COMPLAINT NOW COMES, Plaintiff, Dickinson College (hereinafter "Dickinson"), by its attorneys, McNees, Wallace & Nurick, and files the within Complaint against Charles W. Kay. In support of its complaint, Dickinson states as follows: 1. Plaintiff, Dickinson, is an educational institution of higher learning which maintains an address at P.O. Box 2896, Carlisle, Pennsylvania 17013. 2. Defendant, Charles W. Kay, is an adult individual whose last known address is 9401 Winding Ridge, Gwynedd, Pennsylvania 19436-0204. 3. On or about October 1, 1984, the Defendant entered into an Educational Goods and Services Retail Installment Contract (hereinafter "contract") for expenses incurred for goods and services to be provided and rendered to his son, Timothy Kay, by Dickinson during the 1984-1985 academic year. A true and correct copy of the First Contract is attached hereto and made a part hereof as Exhibit "A". COUNT I 4. Paragraphs 1 through 3 are incorporated herein by reference thereto. 5. Under the terms of the Contract, Defendant agreed to pay Dickinson Seven Thousand Dollars ($7,000.00) with interest at the initial rate of 13.998% per annum in one hundred fifteen (115) equal monthly installments of One Hundred Ten Dollars and Eighty-Seven Cents ($110.87) commencing on November 1, 1984. 6. The Contract further provides that "[i]f a payment is more than 15 days late, a sum equivalent to 5% of the late payment (but no more than $2.50 and not less than $1.00) may be Ii '1 ii l I ,I charged." 7. The Contract further provides that if an event of default of the Contract occurs, and is not cured by the borrower, Dickinson had "the right to declare all sums due on the. Contract to be immediately due and payable." 8. On or about March 15, 1990, the Defendant defaulted on his obligation under the Contract by failing to make the required monthly payments when due. 9. In accordance with the terms of the Contract, Dickinson has declared the Contract to be in default. The total amount .l j j i which became due and owing to Dickinson by the Defendant pursuant to the Contract is six Thousand One Hundred Ninety-Eight Dollars ; - 2 - and Thirty Cents ($6,198.30), which amount includes interest through December 8, 1993. 10. Dickinson has demanded payment of the obligation owed to it by Defendant, but the Defendant has failed and refused to do so. 11. Defendant has been credited all payments made pursuant the terms of the Contract. WHEREFORE, Plaintiff demands judgment against Charles W. Kay in the sum of six Thousand One Hundred Ninety-Eight Dollars and Thirty Cents ($6,198.30), plus interest at $.846 per diem from December 9, 1993, until the Defendant's obligation is paid in full, plus costs of suit, which sum does not exceed the jurisdic- tional limit for compulsory arbitration. COUNT II In the alternative, if this Honorable Court should determine that an express contract between the parties does not exist, which is denied, Plaintiff pleads the following: 12. Paragraphs 1 through 3 inclusive are hereby incor- porated herein by reference. 13. Having requested Dickinson College to loan money and doing so to the benefit of Defendant, Defendant became liable to Dickinson College for said money. - 3 - '~ ,,. '" """",";,i, 14. The Defendant has been unjustly enriched by accepting said money without paying Dickinson College reasonable compen- sation therefor. 15. The total amount by which the Defendant has become enriched, considering all payments made by Defendant to Dickinson College pursuant the terms of the Contract, is Six Thousand One Hundred Ninety-Eight Dollars and Thirty Cents ($6,198.30). 16. Dickinson college has demanded that the Defendant pay this amount but the Defendant has failed and refused to do so. WHEREFORE, plaintiff demands judgment against Charles W. Kay in the sum of six Thousand One Hundred Ninety-Eight Dollars and Thirty Cents ($6,198.30), plus interest and costs of suit, which sum does not exceed the jurisdictional limit for compulsory arbitration. MCNEE~LLACE 0.NURICK By . 1J4~ Brett D. Dav s I.D. No. 62668 100 Pine street P. O. Box 1166 Harrisburg, PA 1710B-1166 (717) 232-8000 A1:torneys for Plaintiff Dickinson College Dated: ~.I/,'L~~ - 4 - (....: .,,~~~...-. ..':-~" ......;.:.;:;.~.~ . VERIFICATION Subject to the penalties of lB Pa. C.S. 54904 relating to unsworn falsification to authorities, I hereby certify that I am Thomas B. Heyer of Dickinson college, and I am authorized to verify this Complaint on its behalf, and further, that the facts set forth in the foregoing Complaint are true and correct to the best of my information and belief. Dated: C>>/l'~ <'I"~ --- Thomas .~eyer , " ,...;.a::;:" .... ..- ". .-... -,.~-_.~.",._._-_. Exhibit "A" r....-. t18Ii~;:_:-~ . ("' (' WT c: ~.t."; " DICKINSON COLLEGE FLEXIBLE FINANCING SYSTEM - 7000 PLAN EDUCATIONAL GOODS AND SERVICES RETAIL INSTALLMENT CONTRACT Date October I, 1984 J 1. Seller: Dickinson College, Carlisle, Pennsylvania 17013 Buyer(s): Charles Kav 9401 Windin2 Rid2e. Dallas. TX 75238 If there is more than one Buyer, each of you will be obligated, jointly and severally, for all sums due and for the performance of all agreements as provided in this Contract. Under the terms of this Educational Goods and Services Retail Install- ment Contract, you have agreed to pay the expenses incurred for goods and services to be provided and rendered, as the case may be, to Timothv (hereinafter "Student") during his/her enrollment at Dickinson College during the IqR4-R~ academic year, including tuition, room and board, books and supplies as herein stated (hereinafter the "Goods and Services"). The Goods and Services shall include only the following: T"Hinn Ann 'room and board U. TERMS OF PAYMENT AND PAYMENT SCHEDULE Disclosures Required by Federal Law ANNUAL FINANCE AMOUNT FINANCED: TOTAL OF TOTAL SALE PERCENTAGE CHARGE: Amount of credit PAYMENTS: PRICE: RATE: * Dollar amoun provided by Amount paid Total cost of Cost of credit credit will Dickinson College by Buyer as purchase on as yearly rate t cost Buyer total of all credit, in- scheduled eluding down payments payment of $ 4.040.00 13.998 % $ 5,750,05 $ 7,000.00 $ 12.750.05 $ 11.040.00 (.- r r Buyer's payment schedule will be as follows: Number of Pa ents Amount of Pa ents : When Pa ents Are Due 115 110.87 Monthly commencing November 1, 1984 until May 1, 1993 *Variable Rate: The ANNUAL PERCENTAGE RATE disclosed above is a variable rate and may change. The ANNUAL PERCENTAGE RATE may increase during the term of this transaction if the prime rate of interest announced in the Wall Street Journal as of the close of business on June 30 of each calendar year increases, and will be increased to the prime rate plus 1%. The ANNUAL PERCENTAGE RATE will not increase more than once a year, and the new interest rate will become effective on July 1 following the 'increase, if any, in the -priirierate of interesf;Allj-illcrellse will be in the form of higher payment amounts. If your cost of the Goods and Services sold hereunder were $7,000.00 at 14 % per annum for 115 months, and the prime rate plus U: were increased to 15 %, your regular monthly payments would increase to $ 115.07 Further, the ANNUAL PER- CENTAGE RATE will not increase to more than 18% or such other rate as may be permitted under the Pennsylvania Goods and Services Installment Sales Act. Late Charge: If a payment is more than 15 days late, a sum equivalent to 5% of the late payment (but no more than $2.50 and not less than $1.00) may be charged. Prepayment: Buyer may prepay the unpaid balance of the Amount Financed and any FINANCE CHARGE due through the date of early payment, in full or in part, without penalty. SEE SECTION VI OF THE CONTRACT BELOW FOR ANY ADDITIONAL INFORMATION ABOUT NON- PAYMENT, DEFAULT AND REQUIRED REPAYMENT BEFORE THE SCHEDULED DATE FOR REPAYMENT OF THE AMOUNT FINANCED. -2- r r Ill. ITEMIZATION OF AMOUNT FINANCED 1. Cash price of Goods and Services: $ ll, 040. 00 2. Total down payment: 4,040.00 3. Unpaid balance of cash price (l - 2): 7,000.00 4. Amount paid to others on Buyer's behalf: .00 5. Amount Financed (3 + 4): $ 7,000.00 IV. CREDIT INSURANCE Credit life insurance for the term of this Contract is not required. V. NO WARRANTIES . TlI!;!tE, ARE NO WARRANTIES,_EITHE_REXPRESSED OR Im',L;J;EP, _G,IV_Ett BY SELLER_ IN _ _ _ _ _ CONNECTION WITH SALE OF THE GOODS AND SERVICES COVERED BY THIS CONTRACT UNLESS BUYER HAS BEEN GIVEN A SEPARATE WRITTEN WARRANTY. VI. ADDITIONAL PROVISIONS I. Buyer agrees to pay Seller the Total Sale Price by making the total down payment and paying Seller the Total of Payments in the number and amount of monthly payments shown in the Payment Schedule. Payments are due on or before the same date of each month as the first payment date. Payments must be made to Industrial Valley Bank at the following address: Industrial Valley Bank P.O. Box 433 Upper Darby, Pennsylvania 19082 2. Buyer's legal rights include the right to pay all or part of the amounts due on this Contract in advance of their due dates, to obtain a refund or credit of unearned Finance Charge whenever the amount is paid in full in advance, and (with Seller's consent) to reinstate the Contract if Buyer timely cures any default. 3. Buyer shall be deemed to have cOmmitted an "Event of Default" of the Contract upon the occurrence of any of the following: (a) failure to make any payment on or before the date it is due. (b) failure to make a payment on any other contract outstanding with Seller, -3- r"" r r (c) failure to perform any other provision of the Contract, (d) providing Seller with false information or signatures, (e) death, incompetence, or conviction of any Buyer of crime in- volving fraud or dishonesty, (f) insolvency or bankruptcy of any Buyer. 4. Upon or after the occurrence of any Event of Default, Seller will provide Buyer with notice, by certified mail as required by law, addressed to Buyer's last known address as shown on Seller's records, advising Buyer of the default and of Buyer's right to cure the default. The notice will provide the time, amount and performance necessary to cure the default. If Buyer does not cure the default as provided in the notice, Seller's rights shall include the right to declare all sums due on the Contract to be immediately due and payable. 5. Waiver by Seller of any event of default shall not be binding upon Seller if Seller should thereafter choose to exercise that or any other right or a similar Event of Default occurs later. All Seller's rights and remedies shall be cumulative. Seller's exercise of one or more rights shall not cause Seller to lose any other rights. 6. This Contract is freely assignable by Seller. Buyer agrees that upon receiving notice of the assignment Buyer shall be obligated to the Assignee of this Contract, which Assignee shall have all of Seller's rights and remedies. 7. If any part of this Contract is held to be illegal, void or unenforceable, that provision shall be deemed not to have been a part of this Contract, which shall otherwise remain fully effective. 8. The laws of the Commonwealth of Pennsylvania shall apply to this Con- tract except to the extent supplemented, superseded or pre-empted by federal law. 9. This Contract shall be binding upon the parties hereto, their heirs, successors, assigns and legal representatives. 10. TIME IS OF THE ESSENCE OF THIS CONTRACT. NOTICE: ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF GOODS OR SERVICES OBTAINED PURSUANT HERETO OR WITH THE PROCEEDS HEREOF. RECOVERY HEREUNDER BY THE DEBTOR SHALL NOT EXCEED AMOUNTS PAID BY THE DEBTOR HEREUNDER. NOTICE TO BUYER: (1) DO NOT SIGN THIS AGREEMENT BEFORE YOU READ IT OR IF IT CONTAINS ANY BLANK SPACE. (2) YOU ARE ENTITLED TO A COMPLETELY FILLED-IN COPY OF THIS AGREEMENT. (3) UNDER THE LAW, YOU HAVE THE RIGHT TO PAY OFF IN ADVANCE -4- (',' . . f" r THE FUll. A.'10UNT DUE AND UNDER CERTAIN CONDITiONS TO OBTAIN A PARTI.\L REFUND OF THE FINANCE CHARGE, BUYER(S) ACKNOWLEDGE(S) RECEIVING A COMPLETED COPY OF THIS CONTRACT AND INTEND(~E LEGALL~ BY ITS TERMS. BUYER(S): ~A,/ DATE: DICKINSON COLLEGE IOGJ~ By ~l~J) jL{ FOR DICKINSON COLLEGE USE ONLY For value received, Seller hereby sells, assigns, and transfers to Industrial Valley Bank and Trust Company all of Seller's rights, title and interest in this Educational Goods and Services Retail Installment Contract, with full recourse to Seller. This q day of DICKINSON COLLEGE, BY: a.<-~ TITLE . -5- or~:..... ~.,_. . 'I":"' .r:' \\~n ! " . I .; I