Preview
Electronically Filed
EXHIBIT A-1
10/18/2023 9:11 PM
Hidalgo County District Clerks
Reviewed By: Vincente Facundo
C-4347-23-A
CAUSE NO. __________
§ IN THE DISTRICT COURT OF
IN RE: §
§ HIDALGO COUNTY, TEXAS
WEPAYMORE FUNDING, LLC §
§ 92nd JUDICIAL DISTRICT
APPLICATION FOR APPROVAL OF TRANSFER OF
STRUCTURED SETTLEMENT PAYMENT RIGHTS
Applicant WePayMore Funding, LLC (“WPM” or “Transferee”) files this Application for
Approval of Transfer of Structured Settlement Payment Rights pursuant to Chapter 141 of the
Texas Civil Practice & Remedies Code (the “Texas Transfer Statute”) and requests that the Court
approve a transfer of the right to receive certain future structured settlement payments. In support
of this Application, WPM would respectfully show the Court as follows:
Discovery Control Plan
1. Although it is anticipated that no discovery will be necessary in this case, pursuant
to Tex. R. Civ. P. Rule 190, this case should be governed by Discovery Control Plan 2.
Parties
2. Applicant WPM is the proposed Transferee as defined by Section 141.002(21) of
the Texas Transfer Statute.
3. (“Payee”) is the Payee as defined by Section 141.002(9) of the
Texas Transfer Statute. Payee is years old and currently resides in Hidalgo County, Texas.
4. New York Life Insurance Company (“NYLIC” or “Annuity Issuer”) is the Annuity
Issuer as defined by Section 141.002(1) of the Texas Transfer Statute.
5. New York Life Insurance and Annuity Corporation (“NYLIAC” or “Structured
Settlement Obligor”) is the Structured Settlement Obligor as defined by Section 141.002(15) of
the Texas Transfer Statute.
APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT
RIGHTS – Page 1
Electronically Filed
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Hidalgo County District Clerks
Reviewed By: Vincente Facundo
C-4347-23-A
Venue and Jurisdiction
6. Venue and jurisdiction are proper in the 92nd Judicial District Court of Hidalgo
County, Texas because the 92nd Judicial District Court of Hidalgo County, Texas approved the
Settlement that is the subject of this Application in Cause No C- -A styled
.
7. According to Section 141.002(2) of the Texas Transfer Statute, this application is
properly brought in the court of original jurisdiction that authorized or approved the structured
settlement.
8. Pursuant to Hidalgo County Local Rule 1.2.4, any claim for relief based upon a
prior judgment shall be assigned to or transferred to the court of original judgment.
Redaction of Personally Identifiable Information
and Request for Issuance of Order Under Temporary Seal
9. Payee’s personally identifiable information has been redacted from this Application
pursuant to Section 141.006(d) of the Texas Transfer Statute. A written request by Payee to
conceal the personally identifiable information from public inspection is attached hereto as Exhibit
A. WPM will provide the court and each interested party required to receive notice under Section
141.006(b) of the Texas Transfer Statute complete, unredacted copies of the application and all
other pleadings in the time provided by the Texas Transfer Statute.
10. Furthermore, pursuant to Section 141.006(d)(2) of the Texas Transfer Statute,
WPM requests that with respect to any order issued approving or denying this Application, a copy
of the order be filed as part of the public record with the personally identifiable information
redacted. At the same time as the filing of the redacted order, WPM requests that an unredacted
copy of the order be issued under seal, with an unredacted copy of the order provided to WPM and
APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT
RIGHTS – Page 2
Electronically Filed
10/18/2023 9:11 PM
Hidalgo County District Clerks
Reviewed By: Vincente Facundo
C-4347-23-A
all interested parties.
List of Dependents
11. Payee is and has the following dependents as defined by the Texas Transfer
Statute: .
Statement of Facts
12. Payee was involved in the settlement of a lawsuit/claim (the “Settlement”) whereby
Payee became entitled to receive certain structured periodic settlement payments. (The payments
due and payable to Payee under the Settlement shall hereafter be referred to as the “Settlement
Payments.”)
13. In accordance with the Settlement, the obligation to make the Settlement Payments
was assigned to and assumed by NYLIAC. NYLIAC then purchased an annuity (“the Annuity”),
from NYLIC to fund its obligations to make the Settlement Payments to Payee under the
Settlement. Payee receives the Settlement Payments directly from NYLIC.
14. In return for the payment of a lump sum, Payee has agreed to transfer and assign to
WPM the right to receive certain Settlement Payments as follows:
•
•
•
(The payments which are being transferred to WPM pursuant to the Transfer Agreement, as
defined below, and which are the subject of this court proceeding, shall hereafter be referred to as
the “Assigned Payments.”)
15. Payee executed a Structured Settlement Annuity Sale and Assignment Agreement
dated on or about October 16, 2023, in which the Payee agreed to assign and transfer the Assigned
APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT
RIGHTS – Page 3
Electronically Filed
10/18/2023 9:11 PM
Hidalgo County District Clerks
Reviewed By: Vincente Facundo
C-4347-23-A
Payments to Transferee WPM and/or its successors and assigns. This document constitutes a
Transfer Agreement as defined by Section 141.002(19) of the Texas Transfer Statute (hereinafter
referred to as the “Transfer Agreement” and attached hereto as Exhibit B).
16. WPM timely provided to the Payee a written disclosure statement in accordance
with Section 141.003 of the Texas Transfer Statute, more than three (3) days prior to the date on
which the Payee executed the Transfer Agreement (hereinafter referred to as the “Disclosure
Statement,” and attached hereto as Exhibit C).
17. The transfer is in the best interests of the Payee, taking into account the welfare and
support of the Payee’s dependents, if any.
18. Payee was advised in writing to seek independent professional advice regarding the
financial, legal, and tax implications of the transfer, and the Payee has either received independent
professional advice or has knowingly waived the advice in writing. A copy of the Payee’s
Statement of Independent Professional Advice is attached hereto as Exhibit D.
19. This transfer complies with the Texas Transfer Statute, and does not contravene
any applicable federal or state statute or the order of any court or other governmental or responsible
administrative authority. (A copy of the Texas Transfer Statute is attached hereto as Exhibit E.)
20. At least twenty (20) days prior to the hearing for approval of the transfer, the
Transferee will provide written notice of the hearing to the Annuity Issuer, the Structured
Settlement Obligor, and all other interested parties, if any, and will file same with the Court
pursuant to Section 141.006 of the Texas Transfer Statute. Specifically, the Annuity Issuer, the
Structured Settlement Obligor, and all interested parties will be provided with the following
documents and information pursuant to Section 141.006 of the Texas Transfer Statute:
A. A copy of this Application for Approval of Transfer of Structured Settlement
Payment Rights;
APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT
RIGHTS – Page 4
Electronically Filed
10/18/2023 9:11 PM
Hidalgo County District Clerks
Reviewed By: Vincente Facundo
C-4347-23-A
B. A copy of the Transfer Agreement;
C. A copy of the Disclosure Statement required by Section 141.003 of the Texas
Transfer Statute;
D. A list of the Payee’s dependent(s), together with each dependent’s age, if any;
E. Notification that any interested party is entitled to support, oppose, or otherwise
respond to this Application, either in person or by counsel, by submitting written
comments to the Court or by participating in the hearing; and
F. Notification of the time and place of the hearing and notification of the manner in
which and the time by which written responses to the Application must be filed in
order to be considered by the Court.
Prayer
Based upon the foregoing, WePayMore Funding, LLC requests that the Court grant this
Application and approve the transfer to WPM of the Assigned Payments. WePayMore Funding,
LLC further requests that any final order(s) entered in this case relative to this Application be
maintained under temporary seal in accordance with Section 141.006(d)(2) of the Texas Transfer
Statute.
Respectfully submitted,
VASSAR, MCCOWN, DEAR & SICOTTE, L.L.P.
15851 Dallas Parkway, Suite 525
Addison, TX 75001
Telephone - (972) 371-2411
Fax - (972) 371-2410
Email – transfers@vmdslaw.com
/s/ J. Brian Dear
By: ___________________________
J. Brian Dear
State Bar No. 24032117
David S. Vassar
State Bar No. 20503175
ATTORNEYS FOR WEPAYMORE FUNDING, LLC
APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT
RIGHTS – Page 5
DocuSign Envelope ID: 8E638189-992D-4917-90FE-91A9EDDD6BF1
EXHIBIT A
C-4347-23-A
PAYEE’S REQUEST TO CONCEAL PERSONALLY IDENTIFIABLE INFORMATION
Pursuant to Section 141.006(d) of the Texas Civil Practice and Remedies Code, I request
that my personally identifiable information be concealed from public inspection. Furthermore, I
request the full redaction of my name, address, and other information that could reasonably be
used to determine my identity or address, including the names of any dependents, family
members, and beneficiaries from any application, other pleadings, or any order filed or submitted
to the Court related to my proposed transfer of structured settlement payment rights.
EXHIBIT B
C-4347-23-A
STRUCTURED SETTLEMENT ANNUITY
SALE AND ASSIGNMENT AGREEMENT
THIS STRUCTURED SETTLEMENT ANNUITY SALE AND ASSIGNMENT AGREEMENT, along with the
Terms Rider, as may be amended, attached hereto and incorporated herein is referred to collectively as
the “Agreement” dated as of the 16th day of October 2023, is entered into by and between
, an individual residing in the State of Texas (“Seller”) and WEPAYMORE FUNDING, LLC, a
Delaware limited liability company (“Buyer”).
NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, the parties agree as follows:
SECTION ONE
1.1 Agreement to Sell and Buy. Subject to the terms and conditions set forth in this Agreement,
Buyer agrees to pay Seller the Purchase Price identified in the Terms Rider and Seller hereby agrees to
sell, transfer, deliver and irrevocably assign to Buyer and Buyer’s successors and/or assigns, all of
Seller’s right, title and interest in the payments identified as the “Assigned Payments” in the Terms Rider.
1.2 Closing. The closing of the transaction and payment of the Purchase Price shall occur on, or
before, the fifth (5th) business day following the date on which the last of the conditions set forth in Section
2.1 has been satisfied (the “Closing Date”). At any time prior to the Closing Date, Buyer shall have the
sole and absolute discretion to cancel this Agreement without further obligation to Seller if (i) Seller
defaults in respect of Seller’s obligations hereunder; or (ii) otherwise in accordance with the Agreement.
1.3 Access to Documents. From and after the date of this Agreement, Buyer may, on reasonable
notice to Seller from time to time have access to all documents and information related to the Annuity (as
defined in the Term Rider) and the Assigned Payments as well as all related or underlying agreements
(“Documents”) for purposes of reviewing same. When requested by Buyer, Seller shall deliver copies of
the Documents to Buyer for Buyer’s review and files, which Documents shall include, but not be limited to
(i) a copy of the underlying settlement and release agreement/order under which Seller is entitled to
receive the Assigned Payments; (ii) the Annuity contract(s) or policy(ies); (iii) a qualified assignment and
release if applicable; (iv) a structured settlement questionnaire or application (to be provided by Buyer
and executed by Seller); (v) a statement of legal representation; (vi) proof of Seller’s age of majority and
other valid government-issued personal identification; and (vii) and such other documents and
information as Buyer may reasonably request depending on the personal situation of the Seller.
1.4 Disclosure Statement. Seller acknowledges receipt of a disclosure statement setting out
various information regarding this transaction in compliance with Chapter 141 of the Texas Civil Practices
and Remedies Code. (the “Texas Transfer Statute”), not less than three (3) days prior to Seller signing
this Agreement.
SECTION TWO
2.1 Conditions to be Satisfied Prior to Closing & Adjustment(s) to Purchase Price. The
following conditions must be satisfied prior to the Closing Date unless otherwise waived in whole or in
part by Buyer in writing at any time at Buyer’s sole discretion: (a) Buyer shall be satisfied that the
Assigned Payments shall be free and clear of claims of any kind that may affect Buyer’s interest in the
Assigned Payments; (b) Buyer shall receive a non-appealable court order issued by a court of competent
jurisdiction that (i) approves the nature and particulars of the assignment transaction; (ii) makes all
findings required by applicable state and federal law; and (iii) directs the Annuity Issuer and Annuity
Owner (as they are identified in the Terms Rider) to honor the sale and assignment of the Assigned
Payments and to make the Assigned Payments to Buyer or Buyer’s successors and/or assigns (the
“Court Order”); (c) Buyer shall have received written acknowledgment from the Annuity issuer, in a form
satisfactory to Buyer, confirming that Annuity Issuer will pay the Assigned Payments to Buyer or Buyer’s
named successors and/or assigns in accordance with the Court Order; and (d) Seller has performed all of
Seller’s obligations under the Agreement. Seller acknowledges that the Purchase Price may be adjusted,
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if necessary, by subtracting an amount equalC-4347-23-A
to the sum of (i) all Assigned Payments received by Seller
after the date of this Agreement and prior to the Closing Date; (ii) any payments and/or advances made to
Seller or made on behalf of Seller to a third party in satisfaction of one or more obligations of Seller at or
prior to the Closing Date and (iv) any priority liens paid off at Buyer’s discretion.
2.2 Warranties of Seller. Seller represents and warrants that:
(a) the Agreement, when executed and delivered by Seller, will constitute a legal, valid and
binding obligation of Seller, enforceable in accordance with its terms;
(b) Seller has full power and authority to enter into and perform all of Seller’s obligations under
the Agreement, without obtaining the consent of any third party to do so;
(c) Seller is entitled to, and alone owns the Assigned Payments, free and clear of any right,
interest, lien, charge, encumbrance, or other claim of any other person or entity and there are no suits or
proceedings, pending or threatened, against or affecting the Seller or the Assigned Payments which are
likely to have a material adverse effect on Seller’s ability to perform its obligations hereunder;
(d) Seller has paid all applicable taxes, obligations, debts to state agencies, child support and/or
alimony, and Seller will ensure that any outstanding amounts are paid up through the Closing Date;
(e) Seller is not now in arrears or in default on any student loan;
(f) Seller has disclosed, in writing, any obligation to any other company, funder or entity regarding
Seller’s settlement payments;
(g) Seller has never been known by any name other than that set forth herein or otherwise
disclosed to Buyer;
(h) Seller has had the opportunity to be independently advised and represented by counsel
of choice throughout the negotiation of the Agreement and Seller has relied solely on the advice
of Seller’s counsel and other advisors, if any, with respect to the legal, tax and financial
implications of this transaction and has not relied on Buyer’s advice or the advice of Buyer’s
advisors and/or counsel. Seller acknowledges that Buyer has not, and cannot, refer Seller to any
specific attorney or other licensed professional advisor for such purpose;
(i) Seller has not previously assigned, pledged or otherwise encumbered the Assigned Payments;
(j) Seller is not currently in bankruptcy or the subject of an involuntary bankruptcy proceeding;
(k) Seller will cooperate with Buyer to effectuate the assignment transaction including, but not
limited to, providing Buyer and/or its assigns with all necessary documentation, executing any additional
documents that may be necessary or required by the court or any other entity;
(l) Seller shall immediately advise Buyer, in writing, in the event Seller’s address of residency
changes;
(m) Seller is an adult of sound mind, not acting under duress or the influence of alcohol or other
drugs;
(n) all statements and facts set forth by Seller in the Agreement and any affidavit related thereto
are true and complete and do not omit to disclose anything as a result of which those statement are
incomplete, false or misleading; and
(o) if one or more of these statements or facts becomes untrue before the Closing Date, Seller
agrees to notify Buyer in writing. Seller hereby authorizes Buyer or its agents or assigns to conduct such
credit or other searches necessary.
2.3 Anti-Assignment Provision(s) Waiver and Consent. Seller understands and acknowledges
that Seller’s settlement agreement, annuity policy, qualified assignment and/or order approving the
settlement agreement and/or the annuity policy (the “Settlement Documents”) may or could contain
language prohibiting Seller’s right or power to accelerate, anticipate, defer, increase, decrease or assign
Seller’s structured settlement payments. Seller understands that Seller has the right to enforce any such
language, which means Seller has the right to not proceed to this sale or transfer. Seller hereby waives
and releases any such language or similar language and restrictions, if any, in the Settlement
Documents. Seller understands and agrees that Seller will never claim or assert in this, or any other
venue that the payments Seller is now selling were not assignable or transferrable due to any language or
restrictions that Seller is waiving, or that such language renders this Agreement void or voidable.
2.4 Holdback. Buyer, or its assigns, may withhold an amount from the Purchas Price equal to the
amount of the Assigned Payments to be paid within 90 days of the Closing Date (the “Holdback Amount”).
Within five (5) business days after receipt of the first Assigned Payment, Buyer or its assigns, shall
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C-4347-23-A
release the Holdback Amount to Seller, but may retain funds sufficient to cover any Assigned Payments
due to Buyer pursuant to the Court Order, but not received by Buyer.
2.5 Servicing Arrangement. In the event that Seller is selling less than the entire amount of any
individual settlement payment, the Annuity Issuer, Annuity Owner or the court may require, or it may
otherwise be necessary or convenient, that Buyer, or its assigns, receive the entire settlement payment
and assume the obligation to remit any unassigned portion of such settlement payment to Seller (the
“Servicing Arrangement”). Seller hereby acknowledges that the Servicing Arrangement (a) may limit
Seller’s ability to sell future payments to other interested purchasers, and (b) will likely result in a delay in
Seller’s receipt of the unassigned portion of the settlement payments affected by the Servicing
Arrangement.
2.6 Indemnification. Seller agrees to hold harmless, defend, and indemnify Buyer against all
claims, losses, damages or expenses, including attorney fees, which Buyer might incur as a result of
breach or failure of any representation or warranty contained in Section 2.2 hereof or as a result of any
breach of any term or provision in this Agreement.
SECTION THREE
3.1 Default by Buyer. In the event that Buyer shall fail to perform or observe any covenant or
agreement to be performed or observed by it under the Agreement in a timely manner, Seller may at its
option, and in addition to any other remedies available to it in law (including the Uniform Commercial
Code (the “UCC”)) or equity, declare Buyer to be in default under the Agreement by written notice to such
effect given to Buyer and, at any time thereafter, Seller may declare the Agreement to be cancelled.
3.2 Default by Seller. In the event that Seller shall fail to perform, observe, or honor any covenant or
agreement in a timely manner or be in breach of any representation or warranty hereunder, Buyer may at
its option, and in addition to any other remedies available to it in law (including the UCC) or equity,
declare Seller to be in default under the Agreement by written notice to such effect given to Seller and, at
any time thereafter, Buyer may declare the Agreement to be cancelled.
3.3 Statutory Exception. Notwithstanding anything else contained in this Section 3, in the event
that the transfer of the Assigned Payment fails to satisfy the conditions set forth in Chapter 141 of the
Texas Civil Practices and Remedies Code, or any amendments thereto, the Seller shall not incur any
penalty or other liability to Buyer.
SECTION FOUR
4.1 General Provisions. The Agreement represents the entire agreement between the parties and
supersedes and cancels any prior negotiations, oral or written agreements, letter or intent or
understanding related to the subject matter hereof. No provision of the Agreement may be amended,
modified or waived except by written agreement duly executed by each of the parties hereto.
4.2 Counterparts. The Agreement may be executed in several counterparts, and all so executed
shall constitute an agreement, binding on the parties hereto.
4.3 Headings. Section headings herein are used for convenience only and shall not otherwise affect
the provision of the Agreement nor the interpretation thereof.
4.4 Amendments. No provision of the Agreement may be amended, modified or waived except by
written agreement duly executed by each of the parties hereto.
4.5 Severability. Wherever possible, each provision of the Agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any such provision shall be prohibited by
or be invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition
or invalidity, without invalidating the remainder of such provision or the remaining provisions of the
Agreement.
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DocuSign Envelope ID: 28871 FSB-AA23-41 OD-AB03-8FCOFD18D385
C-4347-23-A
4.6 Survival of Obligations. The representations, warranties, agreements, acknowledgments,
waivers and disclaimers made or contained in the Agreement shall not merge in but survive the Closing
Date and the consummation of the transaction contemplated by the Agreement, and shall remain in full
force and effect until the expiration of any applicable statute of limitations. This Agreement and the
covenants and conditions contained herein shall apply to, and be binding upon or inure to the
administrators, executors, personal representatives, legal representatives, heirs, successors, and
assignees of the Parties hereto.
4.7 Governing Law. The Agreement shall be governed by, and construed and enforced in
accordance with the laws of the State of Texas and U.S. Federal law to the extent applicable. In the
event of a dispute, including any cause of action arising out of a breach of the Agreement, and the Seller
is domiciled in Texas, the parties agree to resolve the dispute under the laws and jurisdiction of the courts
in the State of Texas. The domicile state of the Seller is the proper venue to bring any cause of action
arising out of the Agreement.
4.8 Assignment. Buyer may, on written notice to Seller at any time prior to the Closing Date or
thereafter assign the Agreement to Buyer's successors or assigns provided that Buyer shall remain liable
to Seller for all of Buyer's obligations hereunder. Seller shall not assign any of its rights or obligations
under the Agreement.
4.9 Waiver of Jury Trial. The parties to the Agreement hereby waive the right to trial by jury in any
action or proceeding instituted with respect to the Agreement.
4.10 Notices. All notices and other written communications provided for in the Agreement or given or
made in connection with the transaction hereby contemplated shall be made in writing and shall be
delivered as follows:
(a) if to Seller, to the Seller's address of record that Seller has provided to Buyer.
(b) ifto Buyer:
c/o WEPAYMORE FUNDING, LLC
401 E Las Olas Blvd, Suite130-692
Fort Lauderdale, FL 33301
4.11 This Is A Sale. This transaction is NOT a loan. It is the intent of the parties to absolutely and
irrevocably sell, transfer, convey and assign, the Assigned Payments.
IN WITNESS WHEREOF the parties have executed the Agreement as of the date first above written.
WEPAYMORE FUNDING, LLC
,r?
c _.L.;:-- ...._,,.._J _
__________
Date: / b / / Ip / Z S By: _ _ _
Authorized Representative
SELLER:
10/16/2023
Date: _ _ _ _ _ _ _ __
SELLER AGREES, ACKNOWLEDGES AND REPRESENTS THAT BUYER ADVISED SELLER TO
CONSULT WITH HIS/HER OWN LEGAL, FINANCIAL AND TAX ADVISORS ABOUT THE
CONSEQUENCES OF THIS TRANSFER AND THAT SELLER HAS HAD TO OPPORTUNITY TO DO
so.
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DocuSign Envelope ID: 28871 F5B-AA23-41OD-AB03-8FCOFD180385
C-4347-23-A
TERMS RIDER TO STRUCTURED SETTLEMENT ANNUITY
SALE AND ASSIGNMENT AGREEMENT
Seller:
Annuity Owner: New York Life Insurance and Annuity Corp
Annuity Issuer: New York Life Insurance Company
Assigned Payments:
Purchase Price:
SELLER: WEPAYMORE FUNDING, LLC
2-~~
By: _ _= = - - - - - - - - - - -
Authorized Representative
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DocuSign Envelope ID: 3E9E92A4-5364-4E77-A321-7E9A660CBEE8
C-4347-23-A
EXHIBIT C
TEXAS DISCLOSURE STATEMENT
Payee:
Disclosure Receipt Date: October 13, 2023
A. Amounts and due dates of the structured settlement payments to
be transferred:
B. Aggregate amount of the payments:
C. Discounted present value of the transferred structured settlement
payments, which is the calculation of current value of the transferred
structured settlement payments under federal standards for valuing
annuities: . The discount rate used in determining the
discounted present value: 5.4%
D. Gross advance amount:
E. Itemized listing of all applicable transfer expenses, other than
attorneys’ fees and related disbursements payable in connection with
the transferee’s application for approval of the transfer, and the
transferee’s best estimate of the fees and disbursements: None
F. Net advance amount:
G. Amount of any penalties or liquidated damages payable by you in
the event of a breach of the transfer agreement by you: None
H. You have the right to cancel the transfer agreement, without
penalty of further obligation, not later than the third business day
after the date the agreement is signed by you.
I. You are advised to obtain independent professional advice
regarding the transfer.
DocuSign Envelope ID: 3E9E92A4-5364-4E77-A321-7E9A660CBEE8
C-4347-23-A
By signing below, you acknowledge receipt of this disclosure
statement on or before the date above. You are required to receive
this disclosure statement not less than three (3) days before the date
on which you sign a transfer agreement.
10/13/2023
__________________
Date:
C-4347-23-A
EXHIBIT D
STATEMENT OF
INDEPENDENT PROFESSIONAL ADVICE
1. On or about October 16, 2023 I entered into a Structured Settlement Payment Right
Purchase and Assignment Agreement with WePayMore Funding, LLC (the “Agreement”)
to transfer certain structured settlement payment rights.
2. With regard to said Agreement, I received a Disclosure Statement from WePayMore
Funding, LLC in which I was advised to seek independent professional advice from an
attorney, certified public accountant, actuary, or other licensed professional adviser who
can advise me regarding the transfer of my structured settlement payment rights.
3. Accordingly,
a. I have received independent professional advice regarding the transfer of my
structured settlement payment rights from (provide name, firm, address and
telephone number):
.
Signature
OR
b. I understand the transaction regarding my transfer of structured settlement
payment rights and hereby expressly waive my right to seek independent
professional advice.
EXHIBIT E
C-4347-23-A
CIVIL PRACTICE AND REMEDIES CODE
TITLE 6. MISCELLANEOUS PROVISIONS
CHAPTER 141. STRUCTURED SETTLEMENT PROTECTION ACT
Sec. 141.001. SHORT TITLE. This chapter may be cited as the Structured Settlement
Protection Act.
Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001.
Sec. 141.002. DEFINITIONS. In this chapter:
(1) 'Annuity issuer' means an insurer that has issued a contract to fund periodic
payments under a structured settlement.
(2) 'Court' means:
(A) the court of original jurisdiction that authorized or approved a
structured settlement; or
(B) if the court that authorized or approved the structured settlement no
longer has jurisdiction to approve a transfer of payment rights under the structured settlement
under this chapter, a statutory county court, a statutory probate court, or a district court located in
the county in which the payee resides.
(3) 'Dependents' includes a payee's spouse, minor children, and all other persons
for whom the payee is legally obligated to provide support, including alimony.
(4) 'Discounted present value' means the present value of future payments
determined by discounting the payments to the present using the most recently published
Applicable Federal Rate for determining the present value of an annuity, as issued by the
United States Internal Revenue Service.
(5) 'Gross advance amount' means the sum payable to the payee or for the payee's
account as consideration for a transfer of structured settlement payment rights before any
reductions for transfer expenses or other deductions to be made from the consideration.
(6) 'Independent professional advice' means advice of an attorney, certified
public accountant, actuary, or other licensed professional adviser.
(7) 'Interested party' means, with respect to any structured settlement:
(A) the payee;
(B) any beneficiary irrevocably designated under the annuity contract to
receive payments following the payee's death;
(C) the annuity issuer;
(D) the structured settlement obligor; and
(E) any other party that has continuing rights or obligations under the
structured settlement.
(8) 'Net advance amount' means the gross advance amount less the aggregate
amount of the actual and estimated transfer expenses required to be disclosed under Section
141.003(5).
(9) 'Payee' means an individual who is receiving tax-free payments under a
structured settlement and proposes to transfer payment rights under the structured settlement.
(10) 'Periodic payments' includes both recurring payments and scheduled future
lump-sum payments.
(11) 'Qualified assignment agreement' means an agreement providing for a
qualified assignment within the meaning of Section 130, Internal Revenue Code of 1986 (26
U.S.C. Section 130), as amended.
C-4347-23-A
(12) 'Settled claim' means the original tort claim or workers' compensation claim
resolved by a structured settlement.
(13) 'Structured settlement' means an arrangement for periodic payment of
damages for personal injuries or sickness established by settlement or judgment in resolution of a
tort claim or for periodic payments in settlement of a workers' compensation claim.
(14) 'Structured settlement agreement' means the agreement, judgment,
stipulation, or release embodying the terms of a structured settlement.
(15) 'Structured settlement obligor' means, with respect to any structured
settlement, the party that has the continuing obligation to make periodic payments to the payee
under a structured settlement agreement or a qualified assignment agreement.
(16) 'Structured settlement payment rights' means rights to receive periodic
payments under a structured settlement, whether from the structured settlement obligor or the
annuity issuer, if:
(A) the payee is domiciled in or the domicile or principal place of
business of the structured settlement obligor or the annuity issuer is located in this state;
(B) the structured settlement agreement was authorized or approved by a
court located in this state; or
(C) the structured settlement agreement is expressly governed by the laws
of this state.
(17) 'Terms of the structured settlement' include, with respect to any structured
settlement, the terms of the structured settlement agreement, the annuity contract, any qualified
assignment agreement, and any order or other approval of the court.
(18) 'Transfer' means any sale, assignment, pledge, hypothecation, or other
alienation or encumbrance of structured settlement payment rights made by a payee for
consideration, except that the term does not include the creation or perfection of a security
interest in structured settlement payment rights under a blanket security agreement entered into
with an insured depository institution, in the absence of any action to redirect the structured
settlement payments to the insured depository institution, or its agent or successor in interest, or
to enforce the blanket security interest against the structured settlement payment rights.
(19) 'Transfer agreement' means the agreement providing for a transfer of
structured settlement payment rights.
(20) 'Transfer expenses' means all the expenses of a transfer that are required
under the transfer agreement to be paid by the payee or deducted from the gross advance amount,
including court filing fees, attorney's fees, escrow fees, lien recording fees, judgment and lien
search fees, finders' fees, commissions, and other payments to a broker or other intermediary,
except that the term does not include preexisting obligations of the payee payable for the payee's
account from the proceeds of a transfer.
(21) 'Transferee' means a party acquiring or proposing to acquire structured
settlement payment rights through a transfer.
Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001. Amended by Acts 2003, 78th
Leg., ch. 578, § 1, eff. Sept. 1, 2003.
Sec. 141.003. REQUIRED DISCLOSURES TO PAYEE. At least three days before the
date on which the payee signs a transfer agreement, the transferee shall provide to the payee a
separate disclosure statement, in bold type at least 14 points in size, that states:
(1) the amounts and due dates of the structured settlement payments to be
transferred;
2
C-4347-23-A
(2) the aggregate amount of the payments;
(3) the discounted present value of the payments to be transferred, which shall be
identified as the 'calculation of current value of the transferred structured settlement payments
under federal standards for valuing annuities,' and the amount of the Applicable Federal Rate
used in calculating the discounted present value;
(4) the gross advance amount;
(5) an itemized listing of all applicable transfer expenses, other than attorney's
fees and related disbursements payable in connection with the transferee's application for
approval of the transfer, and the transferee's best estimate of the amount of those expenses;
(6) the net advance amount;
(7) the amount of any penalties or liquidated damages payable by the payee in the
event of any breach of the transfer agreement by the payee; and
(8) a statement that the payee has the right to cancel the transfer agreement,
without penalty or further obligation, not later than the third business day after the date the
agreement is signed by the payee.
Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001.
Sec. 141.004. APPROVAL OF TRANSFERS OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS. No direct or indirect transfer of structured settlement payment rights shall
be effective and no structured settlement obligor or annuity issuer shall be required to make any
payment directly or indirectly to any transferee of structured settlement payment rights unless the
transfer has been approved in advance in a final court order based on express findings by the
court that:
(1) the transfer is in the best interest of the payee, taking into account the welfare
and support of the payee's dependents;
(2) the payee has been advised in writing by the transferee to seek independent
professional advice regarding the transfer and has either received the advice or knowingly
waived the advice in writing; and
(3) the transfer does not contravene any applicable statute or an order of any
court or other governmental authority.
Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001.
Sec. 141.005. EFFECTS OF TRANSFER OF STRUCTURED SETTLEMENT
PAYMENT RIGHTS.
Following a transfer of structured settlement payment rights under this chapter:
(1) the structured settlement obligor and the annuity issuer shall, as to all parties
except the transferee, be discharged and released from any and all liability for the transferred
payments;
(2) the transferee shall be liable to the structured settlement obligor and the
annuity issuer:
(A) if the transfer contravenes the terms of the structured settlement, for
any taxes incurred by the parties as a consequence of the transfer; and
(B) for any other liabilities or costs, including reasonable costs and
attorney's fees, arising from compliance by the parties with the order of the court or arising as a
consequence of the transferee's failure to comply with this chapter;
(3) the transferee shall be liable to the payee:
3
C-4347-23-A
(A) if the transfer contravenes the terms of the structured settlement, for
any taxes incurred by the payee as a consequence of the transfer; and
(B) for any other liabilities or costs, including reasonable costs and
attorney's fees, arising as a consequence of the transferee's failure to comply with this chapter;
Preview
Electronically Filed EXHIBIT A-1 10/18/2023 9:11 PM Hidalgo County District Clerks Reviewed By: Vincente Facundo C-4347-23-A CAUSE NO. __________ § IN THE DISTRICT COURT OF IN RE: § § HIDALGO COUNTY, TEXAS WEPAYMORE FUNDING, LLC § § 92nd JUDICIAL DISTRICT APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS Applicant WePayMore Funding, LLC (“WPM” or “Transferee”) files this Application for Approval of Transfer of Structured Settlement Payment Rights pursuant to Chapter 141 of the Texas Civil Practice & Remedies Code (the “Texas Transfer Statute”) and requests that the Court approve a transfer of the right to receive certain future structured settlement payments. In support of this Application, WPM would respectfully show the Court as follows: Discovery Control Plan 1. Although it is anticipated that no discovery will be necessary in this case, pursuant to Tex. R. Civ. P. Rule 190, this case should be governed by Discovery Control Plan 2. Parties 2. Applicant WPM is the proposed Transferee as defined by Section 141.002(21) of the Texas Transfer Statute. 3. (“Payee”) is the Payee as defined by Section 141.002(9) of the Texas Transfer Statute. Payee is years old and currently resides in Hidalgo County, Texas. 4. New York Life Insurance Company (“NYLIC” or “Annuity Issuer”) is the Annuity Issuer as defined by Section 141.002(1) of the Texas Transfer Statute. 5. New York Life Insurance and Annuity Corporation (“NYLIAC” or “Structured Settlement Obligor”) is the Structured Settlement Obligor as defined by Section 141.002(15) of the Texas Transfer Statute. APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS – Page 1 Electronically Filed 10/18/2023 9:11 PM Hidalgo County District Clerks Reviewed By: Vincente Facundo C-4347-23-A Venue and Jurisdiction 6. Venue and jurisdiction are proper in the 92nd Judicial District Court of Hidalgo County, Texas because the 92nd Judicial District Court of Hidalgo County, Texas approved the Settlement that is the subject of this Application in Cause No C- -A styled . 7. According to Section 141.002(2) of the Texas Transfer Statute, this application is properly brought in the court of original jurisdiction that authorized or approved the structured settlement. 8. Pursuant to Hidalgo County Local Rule 1.2.4, any claim for relief based upon a prior judgment shall be assigned to or transferred to the court of original judgment. Redaction of Personally Identifiable Information and Request for Issuance of Order Under Temporary Seal 9. Payee’s personally identifiable information has been redacted from this Application pursuant to Section 141.006(d) of the Texas Transfer Statute. A written request by Payee to conceal the personally identifiable information from public inspection is attached hereto as Exhibit A. WPM will provide the court and each interested party required to receive notice under Section 141.006(b) of the Texas Transfer Statute complete, unredacted copies of the application and all other pleadings in the time provided by the Texas Transfer Statute. 10. Furthermore, pursuant to Section 141.006(d)(2) of the Texas Transfer Statute, WPM requests that with respect to any order issued approving or denying this Application, a copy of the order be filed as part of the public record with the personally identifiable information redacted. At the same time as the filing of the redacted order, WPM requests that an unredacted copy of the order be issued under seal, with an unredacted copy of the order provided to WPM and APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS – Page 2 Electronically Filed 10/18/2023 9:11 PM Hidalgo County District Clerks Reviewed By: Vincente Facundo C-4347-23-A all interested parties. List of Dependents 11. Payee is and has the following dependents as defined by the Texas Transfer Statute: . Statement of Facts 12. Payee was involved in the settlement of a lawsuit/claim (the “Settlement”) whereby Payee became entitled to receive certain structured periodic settlement payments. (The payments due and payable to Payee under the Settlement shall hereafter be referred to as the “Settlement Payments.”) 13. In accordance with the Settlement, the obligation to make the Settlement Payments was assigned to and assumed by NYLIAC. NYLIAC then purchased an annuity (“the Annuity”), from NYLIC to fund its obligations to make the Settlement Payments to Payee under the Settlement. Payee receives the Settlement Payments directly from NYLIC. 14. In return for the payment of a lump sum, Payee has agreed to transfer and assign to WPM the right to receive certain Settlement Payments as follows: • • • (The payments which are being transferred to WPM pursuant to the Transfer Agreement, as defined below, and which are the subject of this court proceeding, shall hereafter be referred to as the “Assigned Payments.”) 15. Payee executed a Structured Settlement Annuity Sale and Assignment Agreement dated on or about October 16, 2023, in which the Payee agreed to assign and transfer the Assigned APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS – Page 3 Electronically Filed 10/18/2023 9:11 PM Hidalgo County District Clerks Reviewed By: Vincente Facundo C-4347-23-A Payments to Transferee WPM and/or its successors and assigns. This document constitutes a Transfer Agreement as defined by Section 141.002(19) of the Texas Transfer Statute (hereinafter referred to as the “Transfer Agreement” and attached hereto as Exhibit B). 16. WPM timely provided to the Payee a written disclosure statement in accordance with Section 141.003 of the Texas Transfer Statute, more than three (3) days prior to the date on which the Payee executed the Transfer Agreement (hereinafter referred to as the “Disclosure Statement,” and attached hereto as Exhibit C). 17. The transfer is in the best interests of the Payee, taking into account the welfare and support of the Payee’s dependents, if any. 18. Payee was advised in writing to seek independent professional advice regarding the financial, legal, and tax implications of the transfer, and the Payee has either received independent professional advice or has knowingly waived the advice in writing. A copy of the Payee’s Statement of Independent Professional Advice is attached hereto as Exhibit D. 19. This transfer complies with the Texas Transfer Statute, and does not contravene any applicable federal or state statute or the order of any court or other governmental or responsible administrative authority. (A copy of the Texas Transfer Statute is attached hereto as Exhibit E.) 20. At least twenty (20) days prior to the hearing for approval of the transfer, the Transferee will provide written notice of the hearing to the Annuity Issuer, the Structured Settlement Obligor, and all other interested parties, if any, and will file same with the Court pursuant to Section 141.006 of the Texas Transfer Statute. Specifically, the Annuity Issuer, the Structured Settlement Obligor, and all interested parties will be provided with the following documents and information pursuant to Section 141.006 of the Texas Transfer Statute: A. A copy of this Application for Approval of Transfer of Structured Settlement Payment Rights; APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS – Page 4 Electronically Filed 10/18/2023 9:11 PM Hidalgo County District Clerks Reviewed By: Vincente Facundo C-4347-23-A B. A copy of the Transfer Agreement; C. A copy of the Disclosure Statement required by Section 141.003 of the Texas Transfer Statute; D. A list of the Payee’s dependent(s), together with each dependent’s age, if any; E. Notification that any interested party is entitled to support, oppose, or otherwise respond to this Application, either in person or by counsel, by submitting written comments to the Court or by participating in the hearing; and F. Notification of the time and place of the hearing and notification of the manner in which and the time by which written responses to the Application must be filed in order to be considered by the Court. Prayer Based upon the foregoing, WePayMore Funding, LLC requests that the Court grant this Application and approve the transfer to WPM of the Assigned Payments. WePayMore Funding, LLC further requests that any final order(s) entered in this case relative to this Application be maintained under temporary seal in accordance with Section 141.006(d)(2) of the Texas Transfer Statute. Respectfully submitted, VASSAR, MCCOWN, DEAR & SICOTTE, L.L.P. 15851 Dallas Parkway, Suite 525 Addison, TX 75001 Telephone - (972) 371-2411 Fax - (972) 371-2410 Email – transfers@vmdslaw.com /s/ J. Brian Dear By: ___________________________ J. Brian Dear State Bar No. 24032117 David S. Vassar State Bar No. 20503175 ATTORNEYS FOR WEPAYMORE FUNDING, LLC APPLICATION FOR APPROVAL OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS – Page 5 DocuSign Envelope ID: 8E638189-992D-4917-90FE-91A9EDDD6BF1 EXHIBIT A C-4347-23-A PAYEE’S REQUEST TO CONCEAL PERSONALLY IDENTIFIABLE INFORMATION Pursuant to Section 141.006(d) of the Texas Civil Practice and Remedies Code, I request that my personally identifiable information be concealed from public inspection. Furthermore, I request the full redaction of my name, address, and other information that could reasonably be used to determine my identity or address, including the names of any dependents, family members, and beneficiaries from any application, other pleadings, or any order filed or submitted to the Court related to my proposed transfer of structured settlement payment rights. EXHIBIT B C-4347-23-A STRUCTURED SETTLEMENT ANNUITY SALE AND ASSIGNMENT AGREEMENT THIS STRUCTURED SETTLEMENT ANNUITY SALE AND ASSIGNMENT AGREEMENT, along with the Terms Rider, as may be amended, attached hereto and incorporated herein is referred to collectively as the “Agreement” dated as of the 16th day of October 2023, is entered into by and between , an individual residing in the State of Texas (“Seller”) and WEPAYMORE FUNDING, LLC, a Delaware limited liability company (“Buyer”). NOW THEREFORE, for valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: SECTION ONE 1.1 Agreement to Sell and Buy. Subject to the terms and conditions set forth in this Agreement, Buyer agrees to pay Seller the Purchase Price identified in the Terms Rider and Seller hereby agrees to sell, transfer, deliver and irrevocably assign to Buyer and Buyer’s successors and/or assigns, all of Seller’s right, title and interest in the payments identified as the “Assigned Payments” in the Terms Rider. 1.2 Closing. The closing of the transaction and payment of the Purchase Price shall occur on, or before, the fifth (5th) business day following the date on which the last of the conditions set forth in Section 2.1 has been satisfied (the “Closing Date”). At any time prior to the Closing Date, Buyer shall have the sole and absolute discretion to cancel this Agreement without further obligation to Seller if (i) Seller defaults in respect of Seller’s obligations hereunder; or (ii) otherwise in accordance with the Agreement. 1.3 Access to Documents. From and after the date of this Agreement, Buyer may, on reasonable notice to Seller from time to time have access to all documents and information related to the Annuity (as defined in the Term Rider) and the Assigned Payments as well as all related or underlying agreements (“Documents”) for purposes of reviewing same. When requested by Buyer, Seller shall deliver copies of the Documents to Buyer for Buyer’s review and files, which Documents shall include, but not be limited to (i) a copy of the underlying settlement and release agreement/order under which Seller is entitled to receive the Assigned Payments; (ii) the Annuity contract(s) or policy(ies); (iii) a qualified assignment and release if applicable; (iv) a structured settlement questionnaire or application (to be provided by Buyer and executed by Seller); (v) a statement of legal representation; (vi) proof of Seller’s age of majority and other valid government-issued personal identification; and (vii) and such other documents and information as Buyer may reasonably request depending on the personal situation of the Seller. 1.4 Disclosure Statement. Seller acknowledges receipt of a disclosure statement setting out various information regarding this transaction in compliance with Chapter 141 of the Texas Civil Practices and Remedies Code. (the “Texas Transfer Statute”), not less than three (3) days prior to Seller signing this Agreement. SECTION TWO 2.1 Conditions to be Satisfied Prior to Closing & Adjustment(s) to Purchase Price. The following conditions must be satisfied prior to the Closing Date unless otherwise waived in whole or in part by Buyer in writing at any time at Buyer’s sole discretion: (a) Buyer shall be satisfied that the Assigned Payments shall be free and clear of claims of any kind that may affect Buyer’s interest in the Assigned Payments; (b) Buyer shall receive a non-appealable court order issued by a court of competent jurisdiction that (i) approves the nature and particulars of the assignment transaction; (ii) makes all findings required by applicable state and federal law; and (iii) directs the Annuity Issuer and Annuity Owner (as they are identified in the Terms Rider) to honor the sale and assignment of the Assigned Payments and to make the Assigned Payments to Buyer or Buyer’s successors and/or assigns (the “Court Order”); (c) Buyer shall have received written acknowledgment from the Annuity issuer, in a form satisfactory to Buyer, confirming that Annuity Issuer will pay the Assigned Payments to Buyer or Buyer’s named successors and/or assigns in accordance with the Court Order; and (d) Seller has performed all of Seller’s obligations under the Agreement. Seller acknowledges that the Purchase Price may be adjusted, Page 1 of 5 if necessary, by subtracting an amount equalC-4347-23-A to the sum of (i) all Assigned Payments received by Seller after the date of this Agreement and prior to the Closing Date; (ii) any payments and/or advances made to Seller or made on behalf of Seller to a third party in satisfaction of one or more obligations of Seller at or prior to the Closing Date and (iv) any priority liens paid off at Buyer’s discretion. 2.2 Warranties of Seller. Seller represents and warrants that: (a) the Agreement, when executed and delivered by Seller, will constitute a legal, valid and binding obligation of Seller, enforceable in accordance with its terms; (b) Seller has full power and authority to enter into and perform all of Seller’s obligations under the Agreement, without obtaining the consent of any third party to do so; (c) Seller is entitled to, and alone owns the Assigned Payments, free and clear of any right, interest, lien, charge, encumbrance, or other claim of any other person or entity and there are no suits or proceedings, pending or threatened, against or affecting the Seller or the Assigned Payments which are likely to have a material adverse effect on Seller’s ability to perform its obligations hereunder; (d) Seller has paid all applicable taxes, obligations, debts to state agencies, child support and/or alimony, and Seller will ensure that any outstanding amounts are paid up through the Closing Date; (e) Seller is not now in arrears or in default on any student loan; (f) Seller has disclosed, in writing, any obligation to any other company, funder or entity regarding Seller’s settlement payments; (g) Seller has never been known by any name other than that set forth herein or otherwise disclosed to Buyer; (h) Seller has had the opportunity to be independently advised and represented by counsel of choice throughout the negotiation of the Agreement and Seller has relied solely on the advice of Seller’s counsel and other advisors, if any, with respect to the legal, tax and financial implications of this transaction and has not relied on Buyer’s advice or the advice of Buyer’s advisors and/or counsel. Seller acknowledges that Buyer has not, and cannot, refer Seller to any specific attorney or other licensed professional advisor for such purpose; (i) Seller has not previously assigned, pledged or otherwise encumbered the Assigned Payments; (j) Seller is not currently in bankruptcy or the subject of an involuntary bankruptcy proceeding; (k) Seller will cooperate with Buyer to effectuate the assignment transaction including, but not limited to, providing Buyer and/or its assigns with all necessary documentation, executing any additional documents that may be necessary or required by the court or any other entity; (l) Seller shall immediately advise Buyer, in writing, in the event Seller’s address of residency changes; (m) Seller is an adult of sound mind, not acting under duress or the influence of alcohol or other drugs; (n) all statements and facts set forth by Seller in the Agreement and any affidavit related thereto are true and complete and do not omit to disclose anything as a result of which those statement are incomplete, false or misleading; and (o) if one or more of these statements or facts becomes untrue before the Closing Date, Seller agrees to notify Buyer in writing. Seller hereby authorizes Buyer or its agents or assigns to conduct such credit or other searches necessary. 2.3 Anti-Assignment Provision(s) Waiver and Consent. Seller understands and acknowledges that Seller’s settlement agreement, annuity policy, qualified assignment and/or order approving the settlement agreement and/or the annuity policy (the “Settlement Documents”) may or could contain language prohibiting Seller’s right or power to accelerate, anticipate, defer, increase, decrease or assign Seller’s structured settlement payments. Seller understands that Seller has the right to enforce any such language, which means Seller has the right to not proceed to this sale or transfer. Seller hereby waives and releases any such language or similar language and restrictions, if any, in the Settlement Documents. Seller understands and agrees that Seller will never claim or assert in this, or any other venue that the payments Seller is now selling were not assignable or transferrable due to any language or restrictions that Seller is waiving, or that such language renders this Agreement void or voidable. 2.4 Holdback. Buyer, or its assigns, may withhold an amount from the Purchas Price equal to the amount of the Assigned Payments to be paid within 90 days of the Closing Date (the “Holdback Amount”). Within five (5) business days after receipt of the first Assigned Payment, Buyer or its assigns, shall Page 2 of 5 C-4347-23-A release the Holdback Amount to Seller, but may retain funds sufficient to cover any Assigned Payments due to Buyer pursuant to the Court Order, but not received by Buyer. 2.5 Servicing Arrangement. In the event that Seller is selling less than the entire amount of any individual settlement payment, the Annuity Issuer, Annuity Owner or the court may require, or it may otherwise be necessary or convenient, that Buyer, or its assigns, receive the entire settlement payment and assume the obligation to remit any unassigned portion of such settlement payment to Seller (the “Servicing Arrangement”). Seller hereby acknowledges that the Servicing Arrangement (a) may limit Seller’s ability to sell future payments to other interested purchasers, and (b) will likely result in a delay in Seller’s receipt of the unassigned portion of the settlement payments affected by the Servicing Arrangement. 2.6 Indemnification. Seller agrees to hold harmless, defend, and indemnify Buyer against all claims, losses, damages or expenses, including attorney fees, which Buyer might incur as a result of breach or failure of any representation or warranty contained in Section 2.2 hereof or as a result of any breach of any term or provision in this Agreement. SECTION THREE 3.1 Default by Buyer. In the event that Buyer shall fail to perform or observe any covenant or agreement to be performed or observed by it under the Agreement in a timely manner, Seller may at its option, and in addition to any other remedies available to it in law (including the Uniform Commercial Code (the “UCC”)) or equity, declare Buyer to be in default under the Agreement by written notice to such effect given to Buyer and, at any time thereafter, Seller may declare the Agreement to be cancelled. 3.2 Default by Seller. In the event that Seller shall fail to perform, observe, or honor any covenant or agreement in a timely manner or be in breach of any representation or warranty hereunder, Buyer may at its option, and in addition to any other remedies available to it in law (including the UCC) or equity, declare Seller to be in default under the Agreement by written notice to such effect given to Seller and, at any time thereafter, Buyer may declare the Agreement to be cancelled. 3.3 Statutory Exception. Notwithstanding anything else contained in this Section 3, in the event that the transfer of the Assigned Payment fails to satisfy the conditions set forth in Chapter 141 of the Texas Civil Practices and Remedies Code, or any amendments thereto, the Seller shall not incur any penalty or other liability to Buyer. SECTION FOUR 4.1 General Provisions. The Agreement represents the entire agreement between the parties and supersedes and cancels any prior negotiations, oral or written agreements, letter or intent or understanding related to the subject matter hereof. No provision of the Agreement may be amended, modified or waived except by written agreement duly executed by each of the parties hereto. 4.2 Counterparts. The Agreement may be executed in several counterparts, and all so executed shall constitute an agreement, binding on the parties hereto. 4.3 Headings. Section headings herein are used for convenience only and shall not otherwise affect the provision of the Agreement nor the interpretation thereof. 4.4 Amendments. No provision of the Agreement may be amended, modified or waived except by written agreement duly executed by each of the parties hereto. 4.5 Severability. Wherever possible, each provision of the Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any such provision shall be prohibited by or be invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or the remaining provisions of the Agreement. Page 3 of 5 DocuSign Envelope ID: 28871 FSB-AA23-41 OD-AB03-8FCOFD18D385 C-4347-23-A 4.6 Survival of Obligations. The representations, warranties, agreements, acknowledgments, waivers and disclaimers made or contained in the Agreement shall not merge in but survive the Closing Date and the consummation of the transaction contemplated by the Agreement, and shall remain in full force and effect until the expiration of any applicable statute of limitations. This Agreement and the covenants and conditions contained herein shall apply to, and be binding upon or inure to the administrators, executors, personal representatives, legal representatives, heirs, successors, and assignees of the Parties hereto. 4.7 Governing Law. The Agreement shall be governed by, and construed and enforced in accordance with the laws of the State of Texas and U.S. Federal law to the extent applicable. In the event of a dispute, including any cause of action arising out of a breach of the Agreement, and the Seller is domiciled in Texas, the parties agree to resolve the dispute under the laws and jurisdiction of the courts in the State of Texas. The domicile state of the Seller is the proper venue to bring any cause of action arising out of the Agreement. 4.8 Assignment. Buyer may, on written notice to Seller at any time prior to the Closing Date or thereafter assign the Agreement to Buyer's successors or assigns provided that Buyer shall remain liable to Seller for all of Buyer's obligations hereunder. Seller shall not assign any of its rights or obligations under the Agreement. 4.9 Waiver of Jury Trial. The parties to the Agreement hereby waive the right to trial by jury in any action or proceeding instituted with respect to the Agreement. 4.10 Notices. All notices and other written communications provided for in the Agreement or given or made in connection with the transaction hereby contemplated shall be made in writing and shall be delivered as follows: (a) if to Seller, to the Seller's address of record that Seller has provided to Buyer. (b) ifto Buyer: c/o WEPAYMORE FUNDING, LLC 401 E Las Olas Blvd, Suite130-692 Fort Lauderdale, FL 33301 4.11 This Is A Sale. This transaction is NOT a loan. It is the intent of the parties to absolutely and irrevocably sell, transfer, convey and assign, the Assigned Payments. IN WITNESS WHEREOF the parties have executed the Agreement as of the date first above written. WEPAYMORE FUNDING, LLC ,r? c _.L.;:-- ...._,,.._J _ __________ Date: / b / / Ip / Z S By: _ _ _ Authorized Representative SELLER: 10/16/2023 Date: _ _ _ _ _ _ _ __ SELLER AGREES, ACKNOWLEDGES AND REPRESENTS THAT BUYER ADVISED SELLER TO CONSULT WITH HIS/HER OWN LEGAL, FINANCIAL AND TAX ADVISORS ABOUT THE CONSEQUENCES OF THIS TRANSFER AND THAT SELLER HAS HAD TO OPPORTUNITY TO DO so. Page 4 ofS DocuSign Envelope ID: 28871 F5B-AA23-41OD-AB03-8FCOFD180385 C-4347-23-A TERMS RIDER TO STRUCTURED SETTLEMENT ANNUITY SALE AND ASSIGNMENT AGREEMENT Seller: Annuity Owner: New York Life Insurance and Annuity Corp Annuity Issuer: New York Life Insurance Company Assigned Payments: Purchase Price: SELLER: WEPAYMORE FUNDING, LLC 2-~~ By: _ _= = - - - - - - - - - - - Authorized Representative Page 5 ofS DocuSign Envelope ID: 3E9E92A4-5364-4E77-A321-7E9A660CBEE8 C-4347-23-A EXHIBIT C TEXAS DISCLOSURE STATEMENT Payee: Disclosure Receipt Date: October 13, 2023 A. Amounts and due dates of the structured settlement payments to be transferred: B. Aggregate amount of the payments: C. Discounted present value of the transferred structured settlement payments, which is the calculation of current value of the transferred structured settlement payments under federal standards for valuing annuities: . The discount rate used in determining the discounted present value: 5.4% D. Gross advance amount: E. Itemized listing of all applicable transfer expenses, other than attorneys’ fees and related disbursements payable in connection with the transferee’s application for approval of the transfer, and the transferee’s best estimate of the fees and disbursements: None F. Net advance amount: G. Amount of any penalties or liquidated damages payable by you in the event of a breach of the transfer agreement by you: None H. You have the right to cancel the transfer agreement, without penalty of further obligation, not later than the third business day after the date the agreement is signed by you. I. You are advised to obtain independent professional advice regarding the transfer. DocuSign Envelope ID: 3E9E92A4-5364-4E77-A321-7E9A660CBEE8 C-4347-23-A By signing below, you acknowledge receipt of this disclosure statement on or before the date above. You are required to receive this disclosure statement not less than three (3) days before the date on which you sign a transfer agreement. 10/13/2023 __________________ Date: C-4347-23-A EXHIBIT D STATEMENT OF INDEPENDENT PROFESSIONAL ADVICE 1. On or about October 16, 2023 I entered into a Structured Settlement Payment Right Purchase and Assignment Agreement with WePayMore Funding, LLC (the “Agreement”) to transfer certain structured settlement payment rights. 2. With regard to said Agreement, I received a Disclosure Statement from WePayMore Funding, LLC in which I was advised to seek independent professional advice from an attorney, certified public accountant, actuary, or other licensed professional adviser who can advise me regarding the transfer of my structured settlement payment rights. 3. Accordingly, a. I have received independent professional advice regarding the transfer of my structured settlement payment rights from (provide name, firm, address and telephone number): . Signature OR b. I understand the transaction regarding my transfer of structured settlement payment rights and hereby expressly waive my right to seek independent professional advice. EXHIBIT E C-4347-23-A CIVIL PRACTICE AND REMEDIES CODE TITLE 6. MISCELLANEOUS PROVISIONS CHAPTER 141. STRUCTURED SETTLEMENT PROTECTION ACT Sec. 141.001. SHORT TITLE. This chapter may be cited as the Structured Settlement Protection Act. Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001. Sec. 141.002. DEFINITIONS. In this chapter: (1) 'Annuity issuer' means an insurer that has issued a contract to fund periodic payments under a structured settlement. (2) 'Court' means: (A) the court of original jurisdiction that authorized or approved a structured settlement; or (B) if the court that authorized or approved the structured settlement no longer has jurisdiction to approve a transfer of payment rights under the structured settlement under this chapter, a statutory county court, a statutory probate court, or a district court located in the county in which the payee resides. (3) 'Dependents' includes a payee's spouse, minor children, and all other persons for whom the payee is legally obligated to provide support, including alimony. (4) 'Discounted present value' means the present value of future payments determined by discounting the payments to the present using the most recently published Applicable Federal Rate for determining the present value of an annuity, as issued by the United States Internal Revenue Service. (5) 'Gross advance amount' means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from the consideration. (6) 'Independent professional advice' means advice of an attorney, certified public accountant, actuary, or other licensed professional adviser. (7) 'Interested party' means, with respect to any structured settlement: (A) the payee; (B) any beneficiary irrevocably designated under the annuity contract to receive payments following the payee's death; (C) the annuity issuer; (D) the structured settlement obligor; and (E) any other party that has continuing rights or obligations under the structured settlement. (8) 'Net advance amount' means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under Section 141.003(5). (9) 'Payee' means an individual who is receiving tax-free payments under a structured settlement and proposes to transfer payment rights under the structured settlement. (10) 'Periodic payments' includes both recurring payments and scheduled future lump-sum payments. (11) 'Qualified assignment agreement' means an agreement providing for a qualified assignment within the meaning of Section 130, Internal Revenue Code of 1986 (26 U.S.C. Section 130), as amended. C-4347-23-A (12) 'Settled claim' means the original tort claim or workers' compensation claim resolved by a structured settlement. (13) 'Structured settlement' means an arrangement for periodic payment of damages for personal injuries or sickness established by settlement or judgment in resolution of a tort claim or for periodic payments in settlement of a workers' compensation claim. (14) 'Structured settlement agreement' means the agreement, judgment, stipulation, or release embodying the terms of a structured settlement. (15) 'Structured settlement obligor' means, with respect to any structured settlement, the party that has the continuing obligation to make periodic payments to the payee under a structured settlement agreement or a qualified assignment agreement. (16) 'Structured settlement payment rights' means rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, if: (A) the payee is domiciled in or the domicile or principal place of business of the structured settlement obligor or the annuity issuer is located in this state; (B) the structured settlement agreement was authorized or approved by a court located in this state; or (C) the structured settlement agreement is expressly governed by the laws of this state. (17) 'Terms of the structured settlement' include, with respect to any structured settlement, the terms of the structured settlement agreement, the annuity contract, any qualified assignment agreement, and any order or other approval of the court. (18) 'Transfer' means any sale, assignment, pledge, hypothecation, or other alienation or encumbrance of structured settlement payment rights made by a payee for consideration, except that the term does not include the creation or perfection of a security interest in structured settlement payment rights under a blanket security agreement entered into with an insured depository institution, in the absence of any action to redirect the structured settlement payments to the insured depository institution, or its agent or successor in interest, or to enforce the blanket security interest against the structured settlement payment rights. (19) 'Transfer agreement' means the agreement providing for a transfer of structured settlement payment rights. (20) 'Transfer expenses' means all the expenses of a transfer that are required under the transfer agreement to be paid by the payee or deducted from the gross advance amount, including court filing fees, attorney's fees, escrow fees, lien recording fees, judgment and lien search fees, finders' fees, commissions, and other payments to a broker or other intermediary, except that the term does not include preexisting obligations of the payee payable for the payee's account from the proceeds of a transfer. (21) 'Transferee' means a party acquiring or proposing to acquire structured settlement payment rights through a transfer. Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001. Amended by Acts 2003, 78th Leg., ch. 578, § 1, eff. Sept. 1, 2003. Sec. 141.003. REQUIRED DISCLOSURES TO PAYEE. At least three days before the date on which the payee signs a transfer agreement, the transferee shall provide to the payee a separate disclosure statement, in bold type at least 14 points in size, that states: (1) the amounts and due dates of the structured settlement payments to be transferred; 2 C-4347-23-A (2) the aggregate amount of the payments; (3) the discounted present value of the payments to be transferred, which shall be identified as the 'calculation of current value of the transferred structured settlement payments under federal standards for valuing annuities,' and the amount of the Applicable Federal Rate used in calculating the discounted present value; (4) the gross advance amount; (5) an itemized listing of all applicable transfer expenses, other than attorney's fees and related disbursements payable in connection with the transferee's application for approval of the transfer, and the transferee's best estimate of the amount of those expenses; (6) the net advance amount; (7) the amount of any penalties or liquidated damages payable by the payee in the event of any breach of the transfer agreement by the payee; and (8) a statement that the payee has the right to cancel the transfer agreement, without penalty or further obligation, not later than the third business day after the date the agreement is signed by the payee. Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001. Sec. 141.004. APPROVAL OF TRANSFERS OF STRUCTURED SETTLEMENT PAYMENT RIGHTS. No direct or indirect transfer of structured settlement payment rights shall be effective and no structured settlement obligor or annuity issuer shall be required to make any payment directly or indirectly to any transferee of structured settlement payment rights unless the transfer has been approved in advance in a final court order based on express findings by the court that: (1) the transfer is in the best interest of the payee, taking into account the welfare and support of the payee's dependents; (2) the payee has been advised in writing by the transferee to seek independent professional advice regarding the transfer and has either received the advice or knowingly waived the advice in writing; and (3) the transfer does not contravene any applicable statute or an order of any court or other governmental authority. Added by Acts 2001, 77th Leg., ch. 96, § 1, eff. Sept. 1, 2001. Sec. 141.005. EFFECTS OF TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS. Following a transfer of structured settlement payment rights under this chapter: (1) the structured settlement obligor and the annuity issuer shall, as to all parties except the transferee, be discharged and released from any and all liability for the transferred payments; (2) the transferee shall be liable to the structured settlement obligor and the annuity issuer: (A) if the transfer contravenes the terms of the structured settlement, for any taxes incurred by the parties as a consequence of the transfer; and (B) for any other liabilities or costs, including reasonable costs and attorney's fees, arising from compliance by the parties with the order of the court or arising as a consequence of the transferee's failure to comply with this chapter; (3) the transferee shall be liable to the payee: 3 C-4347-23-A (A) if the transfer contravenes the terms of the structured settlement, for any taxes incurred by the payee as a consequence of the transfer; and (B) for any other liabilities or costs, including reasonable costs and attorney's fees, arising as a consequence of the transferee's failure to comply with this chapter;