arrow left
arrow right
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
  • J.G. Wentworth Originations, Llc v. Eric Fragale, Metropolitan Tower Life Insurance Company, Metropolitan Life Insurance CompanySpecial Proceedings - Other (transfer- structured sett) document preview
						
                                

Preview

FILED: NIAGARA COUNTY CLERK 05/07/2021 01:41 PM INDEX NO. E174913/2021 CASE#: E154677/2014 12/10/2014 PETITION Image: 14 of 154 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 .. . 4 SETTLEMENT AGREEMENT AND RELFEASE THIS 5BrrE.BHENT AGREEMEttT AND RELBÅSE "Settlement Agreement') is made and entered into and between fri A. Pracrnie theferred. hy to h rein as -claimant'1. and General Acc nt Insurance.company..of • Amt ca (Referred to herein as "Insurer") RECITALS - . -. Insurhnce· B. deneral Accident Company of America.:·is the Insurer of the Defendants and as such would be obligated to pay any . judgement obtained against the Defendants which is covered its . by policy. . C. The parties desire to enter into this Settlement Agrpement in order to provide for certain pa ents in full settlement and . discharge of al.1 claims which are a aubject of this olaim, upon the terms and conditions set forth herein. . AGREEMENT . The parties hereby agree as follows:,, , . 1. Release and Discharge. . . In consideration of the payments called for herein, the claimant hereby completely releases and forever discharges the --. Defendants ·and the Insurer, and their past, present and future officeror directors, stockholders, attorneys, agents, servants,, representatives, employees, .subsidiaries, af filiates, partners, Predecessors and successors in interest, and assigns and all other arsons , firms, or corporations which whom any of the former hàve are now of may hereafter be af filiated, of and from any and all past, present or future claims, demands, obligations, actions, hftuses of action, rights, damages , costs, expenses and compensation of any nature whether based on a tort·, contract or whatsoever, other theory of recovery, and whether for compensatory or punitive damages, which the Claimant now has, or which may hereafter accrue or otherwise be on account or in out sequired, of, any way growing of, or which are the subject this "serious injury* of, alaim for arisi out of the motor vehicle accident of 1/1/90 (and all relat pleadings) without limitation, and all known including, any . or unknown claims for bodily-and personal injuries to and Claimant, the consequences which have resulted,o,r result from thereof, may . INDEX NO. E174913/2021 FILED: CASE#: NIAGARA E154677/2014 COUNTY 12/10/2014 CLERK 05/07/2021 PETITION Image: 15 01:41 of 154 PM NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 ' the alleged negligent acts or omissions. This release, on the past . of the , Claimant, shall be a fully binding and complete settlement * between the claimant, the Defendants, and the Ensurer and all partiee represented by or claiming through the Claimant, save . . on1,y the pr9.visions of thia settlement Agreement, This reflease executory .' dose not Pertain to the claimant's righ¶s to basic economic loss as that term is defined Wy the Insurance Law of the State of New reek, 2. Payments. In consideration of the release set forth above, the.Insurer on behalf of the cefendants hereby agreem to cause to be"-hade . . payable to the Claimant the sums in the scanners following following ' , A,._ cash Payment with the execution of this Agreement . the 1) concurrently - .. Insurer. agrees..as,.part. of-this. m.ettipsent .to to. Bric A. Fricale.. . my , ond John J. Fromen the swn of Three..RUn r Sixty--Five Thou • inclusive . of dia emento .as and , Dollars ($365,000L or . attorneydsefees renderede on hehalf .pf .4e Claimant. i. p at .. Saig shall Aholade all of the clainiant's costs and expenses.result to . the Claimant or incurred op on behalf of the cla in ' . by connection with this claimi and ,t;he settlement set forth herein. B. Puture Payments • Subject to the other terms and conditions oÊ the Settlement . Agreement, the Insurer agrees to pay to Bric Fraca3e the following amountet 1994,' Commencing November 12, One Thousand, Bight 2tundred Dollars (S1,800) per month for life, increasing three percent (31r} , opepounded annually, guaranteed for forthy (40) years; and , ty Thousand collars ($20,000), on October 10, 2002 Fif Thousand Dollars (350,000), on October 10, 2012 One Thousand Dollars (S100,000), ort.October 10,. 2022 One Randred Seventy-Seven .Thousand, Seven Rundred Seventy-•Five Dollars (3177,775), on October 10, 2034 3. .Binht to Purchase an Annuity.. For its own convenience, the Insurer will fund its futuce Payment obligation under paragraph 2 by the purchase•of an annui from Metropolitan Lifa Insurance comnant. Payment will be directly by saj.d campany to the party to whom payment is due. The aimant shall be responsible for maintaining proper =M4n7. a dress for said company. 4. oualified Assignment . 2 . . L22 9EP -gg : --× g93., FILED: NIAGARA COUNTY CLERK 05/07/2021 01:41 PM INDEX NO. E174913/2021 CASE#: E154677/2014 12/10/2014 PETITION Image: 16 of 154 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 . . The Parties hereto acknowledge and agree that the Insuram will th e a n of Re*enue Code of ..1986, as amended, of the Insurer's liabili to . make any future payment required herein. This assignment a 1 completely release and discharge the Insurer from such obligations hereunder as are assigned to the assignme, and the assignee shall be the sole obligor with respect to the obligation assigned. All. other releases that pertain to the liability of the Defendants and . the Insurer thereupon become final, irrevocable and shall absol·ute, Puture periodio payment from the assignee cannot be accelerated, . _,.deferred, iTu;;peasect ,g.r c)ecreased by the Claiman,t, nor will ,the assigneers payment obligat.Ccin be geenter that the oblic)åYil5n of the party originally liable for payment and from whom the obligation was•assigned, 'the assignee is not required to set aside funds for the Claimant otherwise secure their obligation to them• nor or to is the Claimant entitled to control the investment by the ass1 so of any monies to fund payment required to be made pursuant to s . Agreement. The*annuity acquired by the assignee pursuant to this assignment shall be and remain the sole property of the assignee and all rights of such ownership shall vest with the assignee. We Part of payment called for herein or any assets of the any Defendants or the Insurer shall be subject to execution or any , legal process for any obligation in any manner, nor $hall the Claimant have the right or power to sall, mortgage, pledge, encumber, or anticipate the same, or any part th4reof, by assignment or otherwise. Hetropolitan Life Insurance company shall guarantee the obligationa of the Assignme. 5. Desionation of Beneficiary In the event ric A. Traceae fails to survive, any guaranteed • Payments pursuant Section 2 hereof shall be made to the estate of Bric A. FraQale or such other beneficiary designated by the claimant in writing. .. S. _Disclaimer of Liability The Claimant acknowledges acceptance of payment specified in this Settlement Agreement as a twil and complete compromiss of matters involving disputed issuess that neither payment of any sum the Insurer nor the negotiations for this settlement (including a 1 admissions or the Insuracy he statements, communications) by Dyondants, or their attorneys or representatives .shall be bonsidered admissions by any of said partles; and that no t or present wrong doing on the part of the Defendants shall be lied. by uch payment or negotiations. 'it:e Claimant a rees to indemnify save harmless the Insurer from any and a claims or liens against· the sati41ement herein any- Presently existing by person, entity .or corporation. . 3 , EEs ovest:2: g-g-- chC CNCCa W FILED: NIAGARA COUNTY CLERK 05/07/2021 01:41 PM INDEX NO. E174913/2021 CASE#: E154677/2014 12/10/2014 PETITION Image: 17 of 154 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 7. Buccessorp.in Interest The parties to this Set*tlement Agreement agree that it shall be upon and inure to the benefit of their hinding executors, administrators, personal repreegntatives, heirs, successore and assi,gns, 8. Additional ·Documents * All parties agree to cooperate fully and exeonte any aist all supplementary documents and to take all additional actions which force· . may be necessary-or appropriate to give full aisti effect to the basic and* intent of this Settlement Agreement. The terms Cla½nt will provide to the Insurer an approprigte document discorftinuing the action with prejudice. ITri.e A. fragale/ pa e Claimant . . Gener Acc eat strance y o Date ca 2nsurer . . . - . .-. ... -". • 0N5m • • 11 . 4 . FILED: NIAGARA COUNTY CLERK 05/07/2021 01:41 PM INDEX NO. E174913/2021 CASE#: E154677/2014 12/10/2014 PETITION Image: 18 of 154 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 STATE OF NSW Toks ) S.S. couirrt Or Eme. On this da éf , 19 94 bef ore me Personally eame A. to me known and known to tee to be the individual es and who azeputed the foregoing . instrdment and acknowledge to me that he executed same. duly .- . ROTARY PUBLtd STATE OF NEW TORE -) coUnTr or Ema On this sy of 994 before me Personally came to me known and known to me to be the individual a and who executed the f oregoing instrument and duly acK•nowledge to me that he executed same. '- " NOTARY PUBLIc STATE OF KEN TORK· ) s.s. COUNTY or ). On this ..f a day of kico16nt . , 1994 bef ore me Personally came p.m . t 19 to me known and known to me to.be e individual descrfbed in and who executed the foregoing astrument and duly acknowledge to , me that he executed same. NOTART PtlBT CC .hO ·, rene,me. .s w., rat *•aanad is)ategenateesy, INDEX INDEX NO . NO. E174913/2021 E174 8 04 /2 021 FILED: [FILED: NIAGARA NIAGARA COUNTY COUNTY CLERK CLERK 05/07/2021 04/26/2021 01:41 02:11 PM PM1 NYSCEF NYSCEF DOC. DOC . NO . NO. 2 4 RECEIVED RECEIVED NYSCEF NYSCEF: : 05/07/2021 04 /26 /2021 MetLife n KY ausM 10 Retmment & IncomeSolutiors Metropo!tan TowrfrL·feinsuranceCump y Al errateO 18974½1f;2 Anvoetg NamtwrNSW 79RN owner f/Mrorolitar.Incasranœ & Anrety Company Armotartt CrmA Fr.wMe Anni 15. 2021 Ens A Fr e Verification of benefits Why we're contacting you Please find below a written of the lenefits verification referenced above. under the annuity ,f Payment details • 1.ife contingent monthly payments due on November r2. 2034. with an annual increase of 3% . on the fulloriginalamount, every November12th and centi-ein;; as long as the annuitant is alive. Your starting monthlypayment is S5,871.66. • Guaranteed lump sum payments as follows: $177,-75.o0due payable on October to. 2034 What you need to know • Metropolitan!nerr~ & Annuitycompany is the owner of the annuity referenced above. All rights of this annuity incident the owner of the annuity. reside with • [t is important have been assigned by court order to JG Wentworth to note, payments 1.lf Originations. them Please contact if you have etinac regarding the assigned payments. These o_may_njsge not included in the above listedbenefitscurrentlu ovoiluble to uou What you need to do • the settlementagreement If you need copiesof for this stmeturad or other legal documents we settlement. suggest you contact the attorney the case or the court where the case was settled. who settled • in a safe place for future Please keep this docurnent reference. We're here to help You can reach us at :-800-638-2704. We're here MondaythroughFridayfrom 8 a.m. to 9 p.m. Eastern Time. (NVE FILED: NIAGARA COUNTY CLERK 05/07/2021 01:41 PM INDEX NO. E174913/2021 CASE#: E154677/2014 12/10/2014 PETITION Image: 26 of 154 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 Uniform Qudiffled Assignmens Weere' gg.ic A. Fragale . . . "Aesignor" Generair Accident Insurance Cornpany of Americ nee" "A Notropolitan Xasurance and Company . . . . Annuity leenel" "Anmity Mot ropolitan I f a Insurance Company . . • Oute* 'Effective ESE ER, My 1 S. 'theAssignee's make the Periodic · ThisAgreement Is medà end enteredintoby and between Hability tp the hereto perifee se of the Date with Eifective inferenceto . Peymento le nd greater then thatat theAssigner the fonowingfacts: immedletely precedhg thleAgreement. Aeelgnee le . not r ed to eat aside epectlb esseteto acoure the A Cleiment has executeda settlement eement or . • Period Paymenle. The Cielment hee no tights releasedeled 9 , tSAA-- againstthe Amalgnee greaterthan ageneral oraditor. · She 'BettlementA0reement") thatpNNities$Orthe None of thePortedicPayments be accelerated, · triay Assignorto make certain periodicpaymento to or for increasectcr decreenedand not be deferred, may bennet as stated of the.Clelment In Addendum · ttie sold, enticlj5eted, easigned or enoumbered, No 1 $he 'Peifod1o Payrnents');enti 4. The obligationassumed by Assigneewith respect to · The toeffect seelgnment' a 'quaillied 8, pertiesdeslie requiredpayment shallbe discharged upoh the any wthin the meaning and etheotto the cdnditionsd on or beforethe due dateof a valid check In mhRing Secson 180(c)of the intemef Reverse Code of 1986 the emount epectiledtothe addrees.ofrecord. . Che*0cdot . . 8. ThisAgreement shellbe govemed by and,. . interpretedin accordancew|th thetowe of the . . 8tated NOW, THEREFORE,1n considerationof the foregoing and othergood and valuable the partlee consideration, egree 8. -The Amelgnee f undthe PeriodIc.Payments may by followe• . as punchaelag a "quellfled eacet".villhtn the fundlpg . chtlon W$i) of to Cod4 kmn In tfe of 1. The AseIgnor hereby acelgnsand the Amelgnes . an ennutycontractlesued by the Annoity.teetmaAll . hereby assumes ell ef the Amalgnor's tomake. ilabgity righteofownership end coritrol of such annuity the PeriodicPeyrnenta The Aeo1gnee seeumes no contractshan be end remain veged in the Amalgnee to make liability any payment not specAledin excluelvely.. Addendum No. 1. . . . g.. 7. The Assignee may have the Annuliyleauersend The PeriodicPaymena conetnutedamages on payments under any NueB6od funding seeW.. eccount of pesonet or Injury slalmesein a case . Inunk,rna purchased hereunder to the directly payee(s) phyeloelMtey or physioelalcimesewithin ePeciffedin Addendum No. 1.· Such of . 1 directiort stje m ning of Sectione184(e)Ç!)end D(s) of the payments shellbe solely for the Assignee's Code. convenience and shellnotprovide theClaimant or any psyee with eny rights of ownership or control over seset'or againstpie the'quellnedfunding . Armety lesuer. ! FILED: NIAGARA COUNTY CLERK 05/07/2021 01:41 PM INDEX NO. E174913/2021 CASE#: E154677/2014 12/10/2014 PETITION Image: 27 of 154 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 ( . · a - . . ( B. esset" Assignme's1et ity to malie the PeriodioPaymente purchased norouttderto Assignor,and . shallcontinuewithoutdiminutionregardens of any Assignee'sIIat$AyfoQhe PerledicPayments..sball d or insolvency the Assignor. ·· banknplcy tenninete. 9. In theavant the SWJementAgreement Is declared 16. 'ThisAgreathentshállbe tiloding upon the.respeedve . tenninstedby a courtof isW orin the evertthat representadves,hobs..acqcessors and assigneof lho Section180(c) d the Codehas not been seGeAnd, Claimart,the Assignoreppthe Assignee end spon thle Agreement The Assignes shall terminute. shall eny person or enAtythatthey escorteny right thenassign ownershipd any "quelmedfunding hereunder or toany e Pododle Payments. . General Aboident He tropoli neurance and ABelDno ran ce Co·, of 'America . Assignee: Annui ty Company . . TI . TRI "**8 Stactured Settlements Trade Assoepation in aem National FILED: NIAGARA COUNTY CLERK 05/07/2021 01:41 PM INDEX NO. E174913/2021 CASE#: E154677/2014 12/10/2014 PETITION Image: 28 of 154 NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 05/07/2021 . n. amumpanamepumamemum . Addendum No. 1 . Description of Periodic Payments Por Brio Fragales PAYMENTS: . 11/12/94,' life,· . conunencing $1,800 per month for increasing 34 congounded annually, guarant.eed for 40 years. Lump Stans: . $20,.000 on October 10, 2002 . $50,000 on October 10, 2012 .$100,000 on October 10, 2022 $177,775 on cotober 10, 2034 . PAYB * . Brio Fragale BBNBFICIARY: . Betate of Brio Fragale Payee may request in writing ·that assigtted CNatige the payee and/or beneficiary designatio.n under . . . . this agreement. Any change of the payee designation.will.,onit to merde with the assignee's ' concent. Assignee's decision will be final.. Assignee will· not be liable for any payinent inade prior to receipt of the request or so soon . thereafter that payment could not reasonably-be atopped. Innials . . · Asulgnor, General Accident Insurance Company of America Assignes: Metropélitan Irisurance and Annuity Company