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TAK TIME, LLC IN THE COURT OF COMMON
PLEAS OF LANCASTER COUNTY
te
VS. es
JOHN HANCOCK LIFE INSURANCE No. Cl-22-04160 “oO
COMPANY
ORDER APPROVING TRANSFER OF STRUCTURED SETTLEMENT PA’
RIGHTS
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This matter coming to be heard on the Petition to Transfer Structured Settlement Pursuant
to Structured Settlement Protection Act, 40 P.S. 4000, ef seg. (“Petition”) filed by Tak Time,
LLC (“Tak Time”) and Leah Marie R. Farabaugh a/k/a Leah Farabaugh (‘‘Ms. Farabaugh” or
“Payee”), and in accordance with the Pennsylvania Structured Settlement Protection Act, 40 P.S.
§ 4003, et seg. (the “Act”). The Court being fully advised in the premises, and the Court having
jurisdiction of the matter and the parties to this Order, and in accordance with the Act and upon
papers submitted, including the Absolute Sale, Transfer and Assignment of Structured
Settlement Payments Rights dated June 15, 2022 (“Transfer Agreement”), the Disclosure
Statements signed by Ms. Farabaugh, and the testimony of Ms. Farabaugh, the Court expressly
finds as follows:
1 Notice of the Petition has been given to John Hancock Life Insurance Company
(U.S.A.) f/k/a John Hancock Life Insurance Company (“John Hancock Life” or “Issuer”) and
John Hancock Assignment Company (“John Hancock Assignment” or “Obligor”), at least twenty
(20) days before the date of the hearing, who do not object to the Petition based upon the terms
of this Order.
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2 Pursuant to 26 U.S.C. § 5891(b)(2)(A){i) and (ii), the proposed transfer (i) does
not contravene any Federal or State statute or the order of any court or responsible administrative
authority, and (ii) is in the best interest of Ms. Farabaugh, taking into account the welfare and
support of her dependents.
3 Pursuant to 40 P.S. § 4003(a)(1), the proposed transfer complies with the
requirements of the Act and will not contravene other applicable Federal or State statutes or
regulations or any applicable law limiting the transfer of workers’ compensation claims.
4 Pursuant to 40 P.S. § 4003(a)(2), not less than 10 days prior to the date on which
Ms. Farabaugh first incurred any obligation with respect to the proposed transfer, Tak Time
provided to Ms. Farabaugh a disclosure statement setting forth all of the following:
a, The amounts and due dates of the structured settlement payments to be
transferred;
The aggregate amount of such payments;
The discounted present value of such payments, together with the discount rate or
rates used in determining such discounted present value;
The gross amount payment to Ms. Farabaugh in exchange for such payments;
An itemized listing of all brokers’ commissions, service charges, application or
processing fees, closing costs, filing or administrative charges, legal fees, notary
fees and other commissions, fees, costs, expenses and charges payable by Ms.
Farabaugh, or deductible from the gross amount otherwise payable to Ms.
Farabaugh;
The net amount payable to Ms. Farabaugh after deduction of all commissions,
fees, costs, expenses and charges described in subparagraph (e);
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The quotient, expressed as a percentage, obtained by dividing the net payment
amount by the discounted present value of the payments;
The amount of any penalty and the aggregate amount of any liquidated damages,
inclusive of penalties, payable by Ms. Farabaugh in the event of any breach of the
transfer agreement by Ms. Farabaugh.
3 Pursuant to 40 P.S. § 4003(a)(3), Ms. Farabaugh has established that the proposed
transfer is in the best interests of Ms. Farabaugh or her dependents.
5 Ms. Farabaugh has received or expressly waived in a separate written
acknowledgement signed by Ms. Farabaugh, independent legal advice regarding the implications
of the proposed transfer, including consideration of the tax ramifications of the proposed
transfer.
6. If the proposed transfer would contravene the terms of the structured settlement,
express written approvals have been obtained pursuant to 40 P.S. 4003(a}(5).
7. Based on the certification by the attorney for Tak Time, and the court having not
been made aware of any statute, regulation, or order that would be incompatible with the
proposed transfer, the transfer will not contravene any applicable federal or state statute or
regulation, or the order of any court or responsible administrative or governmental authority or
any applicable law limiting the transfer of workers’ compensation claims.
8 The transfer complies with the remaining requirements of the Act, including
Sections 3(a)(2), 3(a)(4), 3(a)(5), and 3(a)(6).
9 Periodic Payments due to Ms. Farabaugh constitute damages on account of
personal injuries and sickness within the meaning of Section 104(a)(2) of the Internal Revenue
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Code 1986, as amended, and such payments are not taxable payments and do not constitute
attorneys fees payments.
10. Tak Time has given written notice of its name, address, and taxpayer
identification number to John Hancock Life and John Hancock Assignment and has filed a copy
of such notice with the Court.
11. Tak Time and Ms. Farabaugh have timely filed and served on all interested
parties, including John Hancock Life and John Hancock Assignment, a notice of the proposed
transfer and the application for its authorization in compliance with the requirements of 40 P.S.
§ 4004.
12. Ms. Farabaugh has consented, in writing, to the proposed transfer.
13. This Court has jurisdiction over this matter pursuant to 40 P.S. § 4004.
14. The proposed transfer complies with the requirements of 40 P.S. § 4001, et seq.
and 26 U.S.C. § 5891, and will not contravene other applicable law.
15. Ms. Farabaugh is properly before the Court and has confirmed to the Court’s
satisfaction that she is a resident of this state and entitled to avail herself of the Act.
16. Tak Time has assigned to Project Merlin, LLC (“Assignee”) all of its rights
under the Purchase Agreement and the right to receive the Assigned Life-Contingent Payments
(defined below).
17. Ms. Farabaugh is entitled to receive payments from an annuity issued by John
Hancock Life, annuity contract number 17646-20003-20080313 (the “Periodic Payments”), and
purchased by John Hancock Assignment, which fund payments due under a Release and
Settlement Agreement. The Periodic Payments due under annuity contract number 17646-
20003-20080313 originally were annual payments of $50,000.00 each, beginning October 19,
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2014 continuing through and including October 19, 2017; and monthly payments of $3,550.00
each, beginning October 19, 2014 continuing through and including September 19, 2034, and
thereafter for the life of Ms. Farabaugh, all payable under a Uniform Qualified Assignment and
Release with an effective date of May 8, 2008.
18. By Order dated February 6, 2020, Ms. Farabaugh was granted leave to assign
monthly payments of $2,875.00 each, beginning September 19, 2020 continuing through and
including January 19, 2034 to PPF Systems, LLC’s (“PPF”) designated assignee, pursuant to
annuity contract number 17646-20003-20080313, for a total of $462,875.00, in exchange for a
net lump sum payment of $281,254.31 paid to Ms. Farabaugh by PPF.
19, By Order dated August 27, 2020, Ms. Farabaugh was granted leave to assign
monthly payments of $675.00 each, beginning January 19, 2025 continuing through and
including January 19, 2034; and monthly payments of $3,550.00 each, beginning February 19,
2034 continuing through and including September 19, 2034 to PPF’s designated assignee,
pursuant to annuity contract number 17646-20003-20080313, for a total of $101,975.00, in
exchange for a net lump sum payment of $36,668.52 paid to Ms. Farabaugh by PPF.
20. By Order dated June 29, 2021, Ms. Farabaugh was granted leave to assign
monthly life-contingent payments of $2,985.00, beginning on October 19, 2034 and continuing
through and including July 19, 2053, or the death of Ms, Farabaugh to PPF’s designated
assignee, pursuant to annuity contract number 17646-20003-20080313, for a total of
$674,610.00, in exchange for a net lump sum payment of $40,105.00 paid to Ms. Farabaugh by
PPF.
21. The current Petition seeks to transfer to Tak Time the following Periodic
Payments: monthly life-contingent payments of $565.00, beginning on October 19, 2034 and
LEGAL\58968173\1
continuing through and including July 19, 2053 or the death of Ms. Farabaugh, whichever had
occutred sooner; and monthly life-contingent payments of $3,550.00, beginning on August 19,
2053 and continuing through and including July 19, 2066, or the death of Ms. Farabaugh,
whichever had occurred sooner (the “Assigned Life-Contingent Payments”). These payments
are not due and payable unless Ms. Farabaugh is alive at the time each such payment is due.
22. Ms. Farabaugh is domiciled in the Commonwealth, making this Court an
appropriate forum for the filing and prosecution of this Petition.
Based on the foregoing findings, the transfer of payments from Ms. Farabaugh to Tak
Time should be approved.
IT IS HEREBY ORDERED, that the Joint Petition for Transfer of Structured
Settlement Pursuant to Structured Settlement Protection Act, 40 P.S. 4000, ef seg. between Tak
Time and Ms. Farabaugh is approved in all respects pursuant to the Act on the following terms:
1 Pursuant to the Act, Ms. Farabaugh is granted leave to assign the following
Periodic Payment: monthly life-contingent payments of $565.00, beginning on October 19, 2034
and continuing through and including July 19, 2053 or the death of Ms. Farabaugh, whichever
had occurred sooner; and monthly life-contingent payments of $3,550.00, beginning on August
19, 2053 and continuing through and including July 19, 2066, or the death of Ms. Farabaugh,
whichever had occurred sooner, pursuant to John Hancock Life annuity contract number 17646-
20003-20080313. The Assigned Life-Contingent Payments, totaling $681,490.00, are in
exchange for a net lump sum payment of $10,000.00 to be paid to Ms. Farabaugh by Tak Time
or Assignee.
2. Any obligation of John Hancock Life and John Hancock Assignment hereunder to
direct the Assigned Life-Contingent Payments to Assignee is limited to only such Assigned Life-
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Contingent Payments as have not already been paid as of the date John Hancock Life and John
Hancock Assignment receive this Order entered by the Court allowing the proposed transfer.
Tak Time and Assignee agree to seek recovery solely from Ms. Farabaugh for the Assigned Life-
Contingent Payments if made by John Hancock Life and John Hancock Assignment prior to the
receipt of the foregoing.
3 The Issuer is hereby directed to deliver and make payable to Assignee at the
following address:
Project Merlin LLC
P.O. Box 72612
Cleveland, OH 44192-0002
the Assigned Life-Contingent Payments becoming due beginning on October 19, 2034 and
continuing through and including July 19, 2066.
4. The obligation to make any of the Assigned Life-Contingent Payments ceases on
Ms. Farabaugh’s death. Nothing in the Application, the proposed transfer, or any other
document or matter changes the fact that each of the Assigned Life-Contingent Payments is
owed only if Ms. Farabaugh is alive on the scheduled due date of such payment.
5. Tak Time or Assignee shal! provide to John Hancock Life, not less than ninety
(90) days prior to the due date of the first Assigned Life-Contingent Payment (i.e. October 19,
2034), a written confirmation, contemporaneously signed by Ms. Farabaugh and notarized, that
Ms, Farabaugh is alive (the “Initial Required Confirmation”). Every one-hundred eighty (180)
days thereafter and at any time upon reasonable request of John Hancock Assignment or John
Hancock Life, until the due date of the last Assigned Life-Contingent Payment, Tak Time or
Assignee shall provide John Hancock Life with written confirmation, contemporaneously signed
by Ms. Farabaugh, that Ms. Farabaugh is alive (the “Required Confirmation”). The Initial
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Required Confirmation and the Required Confirmations should be forwarded to John Hancock
Life at 601 Congress Street, Boston, MA 02110, Attention: Structured Settlements. Ms.
Farabaugh, Assignee and Tak Time shall cooperate with one another and with John Hancock
Life for purposes of providing each Required Confirmation. In lieu thereof, Tak Time or
Assignee may retain a recognized independent mortality tracking company (the “Mortality
Tracking Company”) (i.e. The Berwyn Group) to track Ms. Farabaugh’s mortality on a quarterly
basis throughout the duration of the Assigned Life-Contingent Payment stream. Such Mortality
Tracking Company shall forward to John Hancock Life quarterly reports evidencing whether or
not Ms. Farabaugh is still alive. These quarterly reports may be used as a substitute of the
Required Confirmation and the Initial Confirmation. If used as a substitute of the Initial
Confirmation, such report shall be forwarded ninety (90) days prior to the due date of the first
Assigned Life-Contingent Payment (i.e. October 19, 2034). In the event that Tak Time or
Assignee acquires information indicating that Ms. Farabaugh has died, Tak Time or Assignee
shall immediately provide John Hancock Assignment and John Hancock Life with this
information in writing directed to John Hancock Assignment and John Hancock Life.
6 If Tak Time or Assignee fails to provide the Required Confirmation that Ms.
Farabaugh is alive, or if John Hancock Assignment or John Hancock Life has any reasonable
basis to believe that Ms. Farabaugh has died, John Hancock Life may suspend making the
Assigned Life-Contingent Payments until John Hancock Life has received the Required
Confirmation. Upon request by John Hancock Assignment or John Hancock Life, Tak Time or
Assignee shall make available for inspection and copying any and all documents received by Tak
Time or Assignee evidencing Ms. Farabaugh’s survival or, alternatively, evidencing Ms.
Farabaugh’s death.
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7 In any event, to the extent any of the Assigned Life-Contingent Payments for
which the scheduled due date is a date subsequent to the date of Ms. Farabaugh’s death,
Assignee shall (i) refund such payment(s) in full to John Hancock Life within ten (10) days of its
receipt of such payment(s) or, if later, within ten (10) days of its receipt of confirmation of Ms.
Farabaugh’s death, plus interest at 6% per annum from the date that the funds were paid through
the date reimbursement is tendered.
8 Tak Time and Assignee have not purchased or acquired, and agree not to purchase
or acquire, any life insurance policy on the life of Ms. Farabaugh from John Hancock
Assignment, John Hancock Life, or any of their respective parents, subsidiaries, or affiliates, that
relates in any way to the proposed transfer or the Assigned Life-Contingent Payments.
9 Tak Time and Assignee, and their affiliates and successors in interest shall
defend, indemnify, and hold harmless Obligor and Issuer and their successors and assigns,
parents, attorneys, affiliates, and subsidiaries from and against any and all liability from all
claims in connection with, related to, or in any way arising out of the Transfer Agreement, the
Petition, or this Order, whether such claims are brought by Ms. Farabaugh (including heirs,
dependents, beneficiaries, contingent beneficiaries, or executors), or by any other individual or
entity. To the extent Tak Time and/or Assignee fails to honor this indemnification and defense
obligation, John Hancock Life and John Hancock Assignment may, in addition to all other
remedies afforded by law, satisfy the same by withholding to their own credit the Assigned Life-
Contingent Payments.
10. Tak Time and Assignee, and their affiliates and successors in interest shall be
liable to Obligor and Issuer for any and all liabilities and costs, including reasonable costs and
LEGAL\S8968173\1
attorneys’ fees arising from compliance with this Order or arising as a consequence of any
failure of Tak Time or Assignee to comply with the Act.
11. The Obligor and Issuer are hereby discharged from all liability with respect to the
Assigned Life-Contingent Payments due beginning on October 19, 2034 and continuing through
and including July 19, 2066 and any transferred portions thereof as to all parties except
Assignee. This Order is entered without prejudice to the rights of the Obligor and Issuer, and the
Court makes no finding regarding the enforceability of any non-assignment provisions contained
in the original Settlement Agreement and Release, the Annuity Contract, the Uniform Qualified
Assignment, or related documents. This Order in no way modifies or negates the ownership or
control over the underlying annuity contract by the Obligor and Issuer, and nothing contained in
this Order shall be deemed to afford Ms. Farabaugh any rights or ownership or control of the
annuity contract which funds the settlement payments to Ms. Farabaugh or shall otherwise affect
the exclusive ownership and control of such annuity contract by the Obligor. This Order shall be
binding on Ms. Farabaugh, Tak Time, Assignee, the Obligor and Issuer, and all other interested
parties.
12, The fimited assignments permitted herein are expressly limited to the subject
annuity contract; and by their agreement to this Order, neither John Hancock Life nor John
Hancock Assignment waives enforcement of the anti-assignment provisions in these or any other
Settlement Agreements, Qualified Assignments, or Annuity Contracts.
13. Ms. Farabaugh, for herself and for her assigns, heirs, and administrators, or
individuals or entities that may claim through them, hereby remises, releases, and forever
discharges John Hancock Life and John Hancock Assignment and their directors, shareholders,
officers, agents, attorneys, employees, servants, reinsurers, successors, and assigns, and any
10
LEGALA\S8968173\1
parent, subsidiary, or affiliate thereof, and their directors, shareholders, officers, agents,
attorneys, employees, servants, successors, and assigns, past and present, of and from any and all
manner of actions and causes of actions, suits, debts, dues, accounts, bonds, covenants, contracts,
agreements, judgments, settlements, damages, claims, and demands whatsoever, in law or in
equity, arising out of, related to, or in connection with the Assigned Life-Contingent Payments
identified herein, or John Hancock Life’s or John Hancock Assignment’s compliance with this
Order.
14, It is agreed and understood that in the event that Assignee attempts to further
assign the Assigned Life-Contingent Payments to another person or entity, John Hancock Life
and John Hancock Assignment will not be obligated to re-direct the Assigned Life-~Contingent
Payments to any such person or entity. If Assignee is granted approval to further assign the
Assigned Life-Contingent Payments, Assignee will continue to service the Assigned Life-
Contingent Payments due beginning on October 19, 2034 and continuing through and including
July 19, 2066.
15. John Hancock Life’s and John Hancock Assignment’s lack of opposition to this
matter shall not constitute evidence in this or any matter, and is not intended to constitute
evidence in this or any matter, that:
a. payments under a structured settlement contract or annuity or related contracts
can be assigned or that “anti-assignment” or “anti-encumbrance” provisions in
structured settlement contracts or annuities or related contracts are not valid
and enforceable; or
other transactions entered into by Tak Time and Assignee, and their customers
constitute valid sales and/or secured transactions; or
John Hancock Life or John Hancock Assignment has waived any right in
connection with any other litigation or claims; or
11
LEGAL\S8968173\1
d. John Hancock Life or John Hancock Assignment has agreed or will, in the
future, agree to the transfer of any future transactions that include life-
contingent payments; or
Tak Time or Assignee waived any right other than as expressly set forth in
this Order.
16. Tak Time, by its counsel Mark Sophocles, Esquire, expressly represents to the
Court that it is a limited liability company in good standing and that it hereby submits to the
jurisdiction of this Court for the purpose of the entry and enforcement of this Order.
17. Any further transfer of structured settlement rights by Ms. Farabaugh shall be
made only after compliance with the requirements of the structured settlement protection acts
applicable to this transfer.
18. This Order shall constitute a final “Qualified Order” within the meaning of 26
US.C. § 5891.
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Alon. MARGARET C.MILLER
AGREED TO AND APPROGED: weeyy = =
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AS TO FORM AND SUBSTANCE i955. oe ORDER OR DECR
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PROTHONOT ARY OF LAI NGA STER CO., PA
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Tak Time,
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Mark Sophocles, Esq.
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Prothonotary of Lancaster County
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REV 12/16/2016
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TAK TIME, LLC IN THE COURT OF COMMON PLEAS OF LANCASTER COUNTY te VS. es JOHN HANCOCK LIFE INSURANCE No. Cl-22-04160 “oO COMPANY ORDER APPROVING TRANSFER OF STRUCTURED SETTLEMENT PA’ RIGHTS zune, ©t ™ a a This matter coming to be heard on the Petition to Transfer Structured Settlement Pursuant to Structured Settlement Protection Act, 40 P.S. 4000, ef seg. (“Petition”) filed by Tak Time, LLC (“Tak Time”) and Leah Marie R. Farabaugh a/k/a Leah Farabaugh (‘‘Ms. Farabaugh” or “Payee”), and in accordance with the Pennsylvania Structured Settlement Protection Act, 40 P.S. § 4003, et seg. (the “Act”). The Court being fully advised in the premises, and the Court having jurisdiction of the matter and the parties to this Order, and in accordance with the Act and upon papers submitted, including the Absolute Sale, Transfer and Assignment of Structured Settlement Payments Rights dated June 15, 2022 (“Transfer Agreement”), the Disclosure Statements signed by Ms. Farabaugh, and the testimony of Ms. Farabaugh, the Court expressly finds as follows: 1 Notice of the Petition has been given to John Hancock Life Insurance Company (U.S.A.) f/k/a John Hancock Life Insurance Company (“John Hancock Life” or “Issuer”) and John Hancock Assignment Company (“John Hancock Assignment” or “Obligor”), at least twenty (20) days before the date of the hearing, who do not object to the Petition based upon the terms of this Order. LEGAL\5S8968173\1 2 Pursuant to 26 U.S.C. § 5891(b)(2)(A){i) and (ii), the proposed transfer (i) does not contravene any Federal or State statute or the order of any court or responsible administrative authority, and (ii) is in the best interest of Ms. Farabaugh, taking into account the welfare and support of her dependents. 3 Pursuant to 40 P.S. § 4003(a)(1), the proposed transfer complies with the requirements of the Act and will not contravene other applicable Federal or State statutes or regulations or any applicable law limiting the transfer of workers’ compensation claims. 4 Pursuant to 40 P.S. § 4003(a)(2), not less than 10 days prior to the date on which Ms. Farabaugh first incurred any obligation with respect to the proposed transfer, Tak Time provided to Ms. Farabaugh a disclosure statement setting forth all of the following: a, The amounts and due dates of the structured settlement payments to be transferred; The aggregate amount of such payments; The discounted present value of such payments, together with the discount rate or rates used in determining such discounted present value; The gross amount payment to Ms. Farabaugh in exchange for such payments; An itemized listing of all brokers’ commissions, service charges, application or processing fees, closing costs, filing or administrative charges, legal fees, notary fees and other commissions, fees, costs, expenses and charges payable by Ms. Farabaugh, or deductible from the gross amount otherwise payable to Ms. Farabaugh; The net amount payable to Ms. Farabaugh after deduction of all commissions, fees, costs, expenses and charges described in subparagraph (e); LEGALAS8968173\t The quotient, expressed as a percentage, obtained by dividing the net payment amount by the discounted present value of the payments; The amount of any penalty and the aggregate amount of any liquidated damages, inclusive of penalties, payable by Ms. Farabaugh in the event of any breach of the transfer agreement by Ms. Farabaugh. 3 Pursuant to 40 P.S. § 4003(a)(3), Ms. Farabaugh has established that the proposed transfer is in the best interests of Ms. Farabaugh or her dependents. 5 Ms. Farabaugh has received or expressly waived in a separate written acknowledgement signed by Ms. Farabaugh, independent legal advice regarding the implications of the proposed transfer, including consideration of the tax ramifications of the proposed transfer. 6. If the proposed transfer would contravene the terms of the structured settlement, express written approvals have been obtained pursuant to 40 P.S. 4003(a}(5). 7. Based on the certification by the attorney for Tak Time, and the court having not been made aware of any statute, regulation, or order that would be incompatible with the proposed transfer, the transfer will not contravene any applicable federal or state statute or regulation, or the order of any court or responsible administrative or governmental authority or any applicable law limiting the transfer of workers’ compensation claims. 8 The transfer complies with the remaining requirements of the Act, including Sections 3(a)(2), 3(a)(4), 3(a)(5), and 3(a)(6). 9 Periodic Payments due to Ms. Farabaugh constitute damages on account of personal injuries and sickness within the meaning of Section 104(a)(2) of the Internal Revenue LEGAL\58968173\1 Code 1986, as amended, and such payments are not taxable payments and do not constitute attorneys fees payments. 10. Tak Time has given written notice of its name, address, and taxpayer identification number to John Hancock Life and John Hancock Assignment and has filed a copy of such notice with the Court. 11. Tak Time and Ms. Farabaugh have timely filed and served on all interested parties, including John Hancock Life and John Hancock Assignment, a notice of the proposed transfer and the application for its authorization in compliance with the requirements of 40 P.S. § 4004. 12. Ms. Farabaugh has consented, in writing, to the proposed transfer. 13. This Court has jurisdiction over this matter pursuant to 40 P.S. § 4004. 14. The proposed transfer complies with the requirements of 40 P.S. § 4001, et seq. and 26 U.S.C. § 5891, and will not contravene other applicable law. 15. Ms. Farabaugh is properly before the Court and has confirmed to the Court’s satisfaction that she is a resident of this state and entitled to avail herself of the Act. 16. Tak Time has assigned to Project Merlin, LLC (“Assignee”) all of its rights under the Purchase Agreement and the right to receive the Assigned Life-Contingent Payments (defined below). 17. Ms. Farabaugh is entitled to receive payments from an annuity issued by John Hancock Life, annuity contract number 17646-20003-20080313 (the “Periodic Payments”), and purchased by John Hancock Assignment, which fund payments due under a Release and Settlement Agreement. The Periodic Payments due under annuity contract number 17646- 20003-20080313 originally were annual payments of $50,000.00 each, beginning October 19, LEGALAS8968173\1 2014 continuing through and including October 19, 2017; and monthly payments of $3,550.00 each, beginning October 19, 2014 continuing through and including September 19, 2034, and thereafter for the life of Ms. Farabaugh, all payable under a Uniform Qualified Assignment and Release with an effective date of May 8, 2008. 18. By Order dated February 6, 2020, Ms. Farabaugh was granted leave to assign monthly payments of $2,875.00 each, beginning September 19, 2020 continuing through and including January 19, 2034 to PPF Systems, LLC’s (“PPF”) designated assignee, pursuant to annuity contract number 17646-20003-20080313, for a total of $462,875.00, in exchange for a net lump sum payment of $281,254.31 paid to Ms. Farabaugh by PPF. 19, By Order dated August 27, 2020, Ms. Farabaugh was granted leave to assign monthly payments of $675.00 each, beginning January 19, 2025 continuing through and including January 19, 2034; and monthly payments of $3,550.00 each, beginning February 19, 2034 continuing through and including September 19, 2034 to PPF’s designated assignee, pursuant to annuity contract number 17646-20003-20080313, for a total of $101,975.00, in exchange for a net lump sum payment of $36,668.52 paid to Ms. Farabaugh by PPF. 20. By Order dated June 29, 2021, Ms. Farabaugh was granted leave to assign monthly life-contingent payments of $2,985.00, beginning on October 19, 2034 and continuing through and including July 19, 2053, or the death of Ms, Farabaugh to PPF’s designated assignee, pursuant to annuity contract number 17646-20003-20080313, for a total of $674,610.00, in exchange for a net lump sum payment of $40,105.00 paid to Ms. Farabaugh by PPF. 21. The current Petition seeks to transfer to Tak Time the following Periodic Payments: monthly life-contingent payments of $565.00, beginning on October 19, 2034 and LEGAL\58968173\1 continuing through and including July 19, 2053 or the death of Ms. Farabaugh, whichever had occutred sooner; and monthly life-contingent payments of $3,550.00, beginning on August 19, 2053 and continuing through and including July 19, 2066, or the death of Ms. Farabaugh, whichever had occurred sooner (the “Assigned Life-Contingent Payments”). These payments are not due and payable unless Ms. Farabaugh is alive at the time each such payment is due. 22. Ms. Farabaugh is domiciled in the Commonwealth, making this Court an appropriate forum for the filing and prosecution of this Petition. Based on the foregoing findings, the transfer of payments from Ms. Farabaugh to Tak Time should be approved. IT IS HEREBY ORDERED, that the Joint Petition for Transfer of Structured Settlement Pursuant to Structured Settlement Protection Act, 40 P.S. 4000, ef seg. between Tak Time and Ms. Farabaugh is approved in all respects pursuant to the Act on the following terms: 1 Pursuant to the Act, Ms. Farabaugh is granted leave to assign the following Periodic Payment: monthly life-contingent payments of $565.00, beginning on October 19, 2034 and continuing through and including July 19, 2053 or the death of Ms. Farabaugh, whichever had occurred sooner; and monthly life-contingent payments of $3,550.00, beginning on August 19, 2053 and continuing through and including July 19, 2066, or the death of Ms. Farabaugh, whichever had occurred sooner, pursuant to John Hancock Life annuity contract number 17646- 20003-20080313. The Assigned Life-Contingent Payments, totaling $681,490.00, are in exchange for a net lump sum payment of $10,000.00 to be paid to Ms. Farabaugh by Tak Time or Assignee. 2. Any obligation of John Hancock Life and John Hancock Assignment hereunder to direct the Assigned Life-Contingent Payments to Assignee is limited to only such Assigned Life- LEGAL\S8968173\1 Contingent Payments as have not already been paid as of the date John Hancock Life and John Hancock Assignment receive this Order entered by the Court allowing the proposed transfer. Tak Time and Assignee agree to seek recovery solely from Ms. Farabaugh for the Assigned Life- Contingent Payments if made by John Hancock Life and John Hancock Assignment prior to the receipt of the foregoing. 3 The Issuer is hereby directed to deliver and make payable to Assignee at the following address: Project Merlin LLC P.O. Box 72612 Cleveland, OH 44192-0002 the Assigned Life-Contingent Payments becoming due beginning on October 19, 2034 and continuing through and including July 19, 2066. 4. The obligation to make any of the Assigned Life-Contingent Payments ceases on Ms. Farabaugh’s death. Nothing in the Application, the proposed transfer, or any other document or matter changes the fact that each of the Assigned Life-Contingent Payments is owed only if Ms. Farabaugh is alive on the scheduled due date of such payment. 5. Tak Time or Assignee shal! provide to John Hancock Life, not less than ninety (90) days prior to the due date of the first Assigned Life-Contingent Payment (i.e. October 19, 2034), a written confirmation, contemporaneously signed by Ms. Farabaugh and notarized, that Ms, Farabaugh is alive (the “Initial Required Confirmation”). Every one-hundred eighty (180) days thereafter and at any time upon reasonable request of John Hancock Assignment or John Hancock Life, until the due date of the last Assigned Life-Contingent Payment, Tak Time or Assignee shall provide John Hancock Life with written confirmation, contemporaneously signed by Ms. Farabaugh, that Ms. Farabaugh is alive (the “Required Confirmation”). The Initial LEGAL\S8968173\1 Required Confirmation and the Required Confirmations should be forwarded to John Hancock Life at 601 Congress Street, Boston, MA 02110, Attention: Structured Settlements. Ms. Farabaugh, Assignee and Tak Time shall cooperate with one another and with John Hancock Life for purposes of providing each Required Confirmation. In lieu thereof, Tak Time or Assignee may retain a recognized independent mortality tracking company (the “Mortality Tracking Company”) (i.e. The Berwyn Group) to track Ms. Farabaugh’s mortality on a quarterly basis throughout the duration of the Assigned Life-Contingent Payment stream. Such Mortality Tracking Company shall forward to John Hancock Life quarterly reports evidencing whether or not Ms. Farabaugh is still alive. These quarterly reports may be used as a substitute of the Required Confirmation and the Initial Confirmation. If used as a substitute of the Initial Confirmation, such report shall be forwarded ninety (90) days prior to the due date of the first Assigned Life-Contingent Payment (i.e. October 19, 2034). In the event that Tak Time or Assignee acquires information indicating that Ms. Farabaugh has died, Tak Time or Assignee shall immediately provide John Hancock Assignment and John Hancock Life with this information in writing directed to John Hancock Assignment and John Hancock Life. 6 If Tak Time or Assignee fails to provide the Required Confirmation that Ms. Farabaugh is alive, or if John Hancock Assignment or John Hancock Life has any reasonable basis to believe that Ms. Farabaugh has died, John Hancock Life may suspend making the Assigned Life-Contingent Payments until John Hancock Life has received the Required Confirmation. Upon request by John Hancock Assignment or John Hancock Life, Tak Time or Assignee shall make available for inspection and copying any and all documents received by Tak Time or Assignee evidencing Ms. Farabaugh’s survival or, alternatively, evidencing Ms. Farabaugh’s death. LEGAL\S8968173\1 7 In any event, to the extent any of the Assigned Life-Contingent Payments for which the scheduled due date is a date subsequent to the date of Ms. Farabaugh’s death, Assignee shall (i) refund such payment(s) in full to John Hancock Life within ten (10) days of its receipt of such payment(s) or, if later, within ten (10) days of its receipt of confirmation of Ms. Farabaugh’s death, plus interest at 6% per annum from the date that the funds were paid through the date reimbursement is tendered. 8 Tak Time and Assignee have not purchased or acquired, and agree not to purchase or acquire, any life insurance policy on the life of Ms. Farabaugh from John Hancock Assignment, John Hancock Life, or any of their respective parents, subsidiaries, or affiliates, that relates in any way to the proposed transfer or the Assigned Life-Contingent Payments. 9 Tak Time and Assignee, and their affiliates and successors in interest shall defend, indemnify, and hold harmless Obligor and Issuer and their successors and assigns, parents, attorneys, affiliates, and subsidiaries from and against any and all liability from all claims in connection with, related to, or in any way arising out of the Transfer Agreement, the Petition, or this Order, whether such claims are brought by Ms. Farabaugh (including heirs, dependents, beneficiaries, contingent beneficiaries, or executors), or by any other individual or entity. To the extent Tak Time and/or Assignee fails to honor this indemnification and defense obligation, John Hancock Life and John Hancock Assignment may, in addition to all other remedies afforded by law, satisfy the same by withholding to their own credit the Assigned Life- Contingent Payments. 10. Tak Time and Assignee, and their affiliates and successors in interest shall be liable to Obligor and Issuer for any and all liabilities and costs, including reasonable costs and LEGAL\S8968173\1 attorneys’ fees arising from compliance with this Order or arising as a consequence of any failure of Tak Time or Assignee to comply with the Act. 11. The Obligor and Issuer are hereby discharged from all liability with respect to the Assigned Life-Contingent Payments due beginning on October 19, 2034 and continuing through and including July 19, 2066 and any transferred portions thereof as to all parties except Assignee. This Order is entered without prejudice to the rights of the Obligor and Issuer, and the Court makes no finding regarding the enforceability of any non-assignment provisions contained in the original Settlement Agreement and Release, the Annuity Contract, the Uniform Qualified Assignment, or related documents. This Order in no way modifies or negates the ownership or control over the underlying annuity contract by the Obligor and Issuer, and nothing contained in this Order shall be deemed to afford Ms. Farabaugh any rights or ownership or control of the annuity contract which funds the settlement payments to Ms. Farabaugh or shall otherwise affect the exclusive ownership and control of such annuity contract by the Obligor. This Order shall be binding on Ms. Farabaugh, Tak Time, Assignee, the Obligor and Issuer, and all other interested parties. 12, The fimited assignments permitted herein are expressly limited to the subject annuity contract; and by their agreement to this Order, neither John Hancock Life nor John Hancock Assignment waives enforcement of the anti-assignment provisions in these or any other Settlement Agreements, Qualified Assignments, or Annuity Contracts. 13. Ms. Farabaugh, for herself and for her assigns, heirs, and administrators, or individuals or entities that may claim through them, hereby remises, releases, and forever discharges John Hancock Life and John Hancock Assignment and their directors, shareholders, officers, agents, attorneys, employees, servants, reinsurers, successors, and assigns, and any 10 LEGALA\S8968173\1 parent, subsidiary, or affiliate thereof, and their directors, shareholders, officers, agents, attorneys, employees, servants, successors, and assigns, past and present, of and from any and all manner of actions and causes of actions, suits, debts, dues, accounts, bonds, covenants, contracts, agreements, judgments, settlements, damages, claims, and demands whatsoever, in law or in equity, arising out of, related to, or in connection with the Assigned Life-Contingent Payments identified herein, or John Hancock Life’s or John Hancock Assignment’s compliance with this Order. 14, It is agreed and understood that in the event that Assignee attempts to further assign the Assigned Life-Contingent Payments to another person or entity, John Hancock Life and John Hancock Assignment will not be obligated to re-direct the Assigned Life-~Contingent Payments to any such person or entity. If Assignee is granted approval to further assign the Assigned Life-Contingent Payments, Assignee will continue to service the Assigned Life- Contingent Payments due beginning on October 19, 2034 and continuing through and including July 19, 2066. 15. John Hancock Life’s and John Hancock Assignment’s lack of opposition to this matter shall not constitute evidence in this or any matter, and is not intended to constitute evidence in this or any matter, that: a. payments under a structured settlement contract or annuity or related contracts can be assigned or that “anti-assignment” or “anti-encumbrance” provisions in structured settlement contracts or annuities or related contracts are not valid and enforceable; or other transactions entered into by Tak Time and Assignee, and their customers constitute valid sales and/or secured transactions; or John Hancock Life or John Hancock Assignment has waived any right in connection with any other litigation or claims; or 11 LEGAL\S8968173\1 d. John Hancock Life or John Hancock Assignment has agreed or will, in the future, agree to the transfer of any future transactions that include life- contingent payments; or Tak Time or Assignee waived any right other than as expressly set forth in this Order. 16. Tak Time, by its counsel Mark Sophocles, Esquire, expressly represents to the Court that it is a limited liability company in good standing and that it hereby submits to the jurisdiction of this Court for the purpose of the entry and enforcement of this Order. 17. Any further transfer of structured settlement rights by Ms. Farabaugh shall be made only after compliance with the requirements of the structured settlement protection acts applicable to this transfer. 18. This Order shall constitute a final “Qualified Order” within the meaning of 26 US.C. § 5891. oe ENTER this _ ath Se i 2: Brrsgre dt (Mather Alon. MARGARET C.MILLER AGREED TO AND APPROGED: weeyy = = ws AS TO FORM AND SUBSTANCE i955. oe ORDER OR DECR EE NOTICE OF ENTRY OF NO. 231 R.C. P. PURSUAN iT TO PA. iS “Hr ATTACHED DOCUMENT PAYEE, NOTIFICAT! JON - THE tr) NG CASE HAS BEEN FILED PROTHONOT ARY OF LAI NGA STER CO., PA DATE: OG-° £-Ze Tak Time, pied tan’ poutsel by its’ Gorn [; eS Mark Sophocles, Esq. 12 LEGAL\58968173\1 Prothonotary of Lancaster County Counter Receipt _ M AR \¢ tT Sep haglet xaceept receipt of the following, (fell printed name) JT -2r- O4b60 (ease number (document(s) received) (case rumber) (document(s) received) (ease number) (document(s) received) (case number) (Woeument( received) {case number) (document(s) received) (case number) ‘Gocument(s) wazeived) as an authorized representative of, Me(aw firm koF attorney name)TSopheckes cto (signature) “Igjen REV 12/16/2016