Motion for Writ in VELOCITY INVESTMENTS LLC vs BOWERS| Trellis.Law

On March 12, 2024 a Complaint,Petition was filed involving a dispute between Velocity Investments Llc, and Jarrod Bowers, for (Collections Case) in the District Court of Sacramento County.

Preview
ELECTRONICALLY FILED
rior Court of California
county of Sacramento
BRYANT BURNSTAD, SBN 297286 03/12/2024
RESURGENCE LEGAL GROUP, PC By: H. Larson Deputy
10805 Holder Street, Suite 167
Cypress, CA 90630
(T) 877/440-0860 (F) 714/226-0024
EMAIL: CAAttorney@ResurgenceLegal.com

Refer to File Number: TP 134769
Attorney for Plaintiff

SUPERIOR COURT OF THE STATE OF CALIFORNIA

COUNTY OF SACRAMENTO, SACRAMENTO JUDICIAL DISTRICT

GORDON D. SCHABER COUNTY COURTHOUSE

10
VELOCITY INVESTMENTS LLC, ) CASENO. 240004 754

11
Plaintiff, COMPLAINT FOR MONEY

Vv. 1. Account Stated
12
2. Open Book Account
JARROD BOWERS, 3. Indebtedness
13
and DOES | through 15 inclusive,
Limited Jurisdiction
14
Defendant(s). [Demand Amount: $2,485.96]
15

18 GENERAL ALLEGATIONS

19 1. At all times mentioned herein, Plaintiff VELOCITY INVESTMENTS LLC was, and now is a

20 LIMITED LIABILITY COMPANY, duly organized and existing under and by virtue of the state of its

21 formation and at all times herein and is successor-in-interest of UPSTART PASS-THROUGH TRUST,

22 SERIES 2021-ST3 ISSUED BY CROSS RIVER BANK SERVICED BY UPSTART NETWORK,

23 INC, and is qualified to conduct business in the State of California. Plaintiff is a debt buyer and sole

24 owner of account.

25 2. The true names and capacities of Defendant(s), DOES 1 through 15, inclusive, are unknown to

26 Plaintiff at this time, who therefore sues said Defendant(s) by such fictitious names. Plaintiff is

27 informed and believes, and thereon alleges, that each Defendant named as a DOE is responsible for

28 each and every obligation hereinafter set forth.

1
COMPLAINT FOR MONEY
3. Plaintiff is informed and believes, and thereon alleges, that each Defendant named in this

Complaint, was and at all times herein mentioned, and now is, the agent and employee of each of the

other Defendant(s) herein, and was at all times acting within the course and scope of said agency and

employment.

4. Plaintiff alleges that the Defendant(s), or some of them, reside in the above-cited Judicial District.

The obligation sued upon is not commercial in nature and is not subject to the provisions of Civil Code,

§2984.4, nor Civil Code, §1812.10.

5. Defendant(s), and each of them, requested a line of credit (the "Account") from the original credit

issuer. Thereafter, said request was accepted and credit was extended to Defendant(s).

10 6. Defendant(s) incurred this debt by defaulting on the Contract by failing to pay the agreed upon

11 payments. A copy of the Contract is attached as Exhibit "A" and incorporated by reference to this

12 complaint.

13 7. The charge-off creditor was UPSTART PASS-THROUGH TRUST, SERIES 2021-ST3 ISSUED

14 BY CROSS RIVER BANK SERVICED BY UPSTART NETWORK, INC, 885 TEANECK RD,

15 TEANECK, NJ 07666 and account number at time of charge-off was ****7695.

16 8. The name(s) and last known address(es) of Defendant(s) as they appeared in the charge-off

17 creditor's records prior to the sale of the debt, or for debt sold prior to January 1, 2014, the name and

18 last known address of Defendant as they appeared in the debt owner's records on December 31, 2013

19 was JARROD BOWERS, 7667 MASTERS ST, ELK GROVE CA 95758-7245.

20 9. The names and addresses of all persons or entities that purchased or were assigned the debt after

21 charge-off are:

22
Name Address
23 VELOCITY INVESTMENTS, LLC 1800 ROUTE 34 NORTH, WALL, NJ 07719

24 Attached hereto collectively as Exhibit "B" are true and correct copies of said transfers and are
25 incorporated herein by reference.
26 10. Plaintiff
has complied with California Civil Code section 1788.52.
27 11. Defendant(s), and each of them, defaulted on the account by failing to make payments, causing
28 damages set forth herein. The date of last payment is April 28, 2022. The charge-off creditor duly
2
COMPLAINT FOR MONEY
performed or was excused from performing all terms and conditions of said Agreement on its part to

be performed.

12. The balance at charge-off was $2,485.96. The total amount of interest after charge-off was

$0.00. The total amount of fees after charge-off was $0.00. The total amount of credits after charge-off

was $0.00.

13. Demand has been made on Defendant(s), and each of them, for the payment of $2,485.96 due.

FIRST CAUSE OF ACTION

(Account Stated)

14. Plaintiff refers to Paragraphs 1 through 13, and by this reference incorporates the same herein

10 as though fully set forth.

11 15. Within the last four years, an account was stated by and between the charge off creditor and

12 Defendant(s), and each of them, wherein it stated that said Defendant(s), and each of them, were

13 indebted to the charge off creditor in the sum of $2,485.96. Plaintiffis the current holder and assignee

14 of the Account.

15 SECOND CAUSE OF ACTION

16 (Open Book Account)

17 16. Plaintiff refers to Paragraphs | through 15, and by this reference incorporates the same herein

18 as though fully set forth.

19 17. Within the last four years, Defendant(s), and each of them, became indebted to the charge-off

20 creditor on an open book account for $2,485.96 due. The open book account reflected all the credits

21 and debits involved in the financial transaction(s) between charge-off creditor and Defendant(s) in the

22 Account. Plaintiffis the current holder and assignee of the Account.

3
COMPLAINT FOR MONEY
1 THIRD CAUSE OF ACTION

2 (Indebtedness)

3 18. Plaintiff refers to Paragraphs | through 17, inclusive of the First Cause of Action, and by this

4 reference incorporates the same herein as though fully set forth.

WHEREFORE, Plaintiff prays for judgment against Defendant, and each of them as follows:

AS TO ALL CAUSES OF ACTION:

1 For the sum of $2,485.96;

2. For costs of suit incurred herein; and,

3. For such other further reliefas the Court may deem just and proper.

10 DATED:

11 February 5, 2024
RESURGENCE LEGAL GROUP, PC
12 By: @B

13 ®& BRYANT BURNSTAD, SBN 297286

14 Attorney for Plaintiff

15 California Debt Collection License #10749-99.

16 This is an attempt to collect a debt by a debt collector and any information obtained will be used for
that purpose.
17

4
COMPLAINT FOR MONEY
EXHIBIT “A”
Copy of the Electronic Original® document managed by the eCore® On Demand (EOD™) Service.
DocuSign Envelope ID: 5495333C-A231-4AE1-AFDE-E10110C63F5B

Promissory Note (“Note”)

Loan ID: i 695
Upstart Borrower ID TI
Lender:
Cross River Bank
885 Teaneck Road
Teaneck, NJ 07666

Promise to Pay.— ue received from Cross River Bank, a New Jersey state-c] ered bank
located in Teaneck, Now. Jers (CRB,” or “you”), I promise to pay to the order of CRE or 6 “any subsequent
holder or assignee of this Note, the principalpal sum of- ~$47000_s- together with, “interest thereon commencing

the
on the date that funds |are issued to, ‘me at the, rate“of per annum simple interest. I acknowledge
that I have read and ee to be bound by the agreemdnt to arbitrate all claims iin Segtion 17 below unless I
have rejected the pro’ fovided in’ Sectio By completing and submi g my loan application, I
am requesting a loan on the terms described in|this Note. Luyiderstand and agree ‘that when you receive my
application and this signed Note you are not agréeing to Iend‘me money and you have the right not to make a
loan to me. I understand that I am not bound by the terms and conditions set forth in this Note until you have
funded a Loan. If you decide to make a Loan to me, I agree to be bound by the terms of this Note.
2 Payments. This Note is payable in 60 monthly installments of$93.01 each,
consisting of principal and interest, commencing on 3, 2021 ands tinuing on the
same day of each SYCGES vemonth thereafter until the final payment date of Mar 23), [2026 which
is the maturity datd of this No

: E ne ‘
Lf the. ayment dye-date-typieally Asya
i the 29th;-30th, or 3/lst of the month,
but a month does not have a 29th, 30th, or 3il st ddy/ then the onthly/pa: y] ntsa ue on the last day of
the month in which the payment/ ‘was due unless otherwise n tified in| writing. , it al payment will consist
of the then- remaining} pti “ipa, unpaid accrued inférest and other ¢ arges due\under isNote. All payments
will be applied first to any unpaid fees incurred @r ult)bf failed automated payments ‘or returned
or bank
drafts or checks, as provided in Section 4 below; Shen ‘any late charges then due; then to any interest then
due; and then to principal. Although the principal amount of my loan includes the origination fee, no unpaid
interest or other charges will be added to principal
3. Interest. Periodic interest will be charged on unpaid principal until the full amount of principal has
been paid. Interest under this Note will accrue on a daily basis on the unpaid principal balance (including my
origination fee) set forth above. Because of the accrual of interest on any late payments and the fect of
rounding, my final payment may be more (or less) than my regular payment. I acknowledge that if I make my
payments after the scheduled due date, this Note will not amortize as originally scheduled, which may result in
a substantially higher final payment amount. The interest rate I will pay will be the rate I will pay both before
and after any default unless and until my loan is charged off

The original document is owned by Velocity Investments, LLC and this copy was created on Dec 14, 2022 12:23:55 PM.
Copy of the Electronic Original® document managed by the eCore® On Demand (EOD™) Service.
DocuSign Envelope ID: 5495333C-A231-4AE1-AFDE-E10110C63F5B

4. Fees. I agree to pay the following fees to the extent permitted by applicable law:

Fee Frequency Description

Origination Fe: 6.316% One time This is a one-time fee
of the Loan Amount and, except as provided
in Section 10, is non-
refundable. You will
deduct from the loan
proceeds before they are
delivered to me.

Late Payment Fe: The greater of 5% of Per occurrence If I do not pay you the
past due amount or full amount of any
$15. mont ly. ment within
/
Sf
\I
10 cal endar days of its
/f\\ J Tp
}/ SfoN due-date; you may
o™
| | //// tharge me a late fee.
yp
\\ //// Any payment received
\A
A LY
//
)/ AY after 3:00 PM Pacific
—/ // time on a business day is
Co deemed received on the
next business day.

ACH Return or Check $15 Per occurrence If Automated Clearing
Refund Fee House ('ACH") transfers
O
Sf
// \\ or checks are rejected or

)
returned for any reason,
({/

2 JI i
\Y } ‘oy fail due to insufficient
{ |
\ \\ \ Sv 7)
iv funds in| my bank
A/S ( \ LA count then you may
J JL
oT) charge this fee. Each
LY attempt to collect a
payment is considered a
separate transaction, so
an ACH return or check
refund fee will be
assessed for each failed
attempt.

I authorize you to collect these fees using ACH transfers initiated by you from my designated bank account if I
have chosen this method of payment (see Section 6). Any fees you assess are immediately due. I
acknowledge and agree that the origination fee is part of my loan principal.
Members of the Armed Forces: Federal law provides important protection to members of the Armed Forces
and their dependents relating to the extension of consumer credit. In general, the cost of consumer credit to a
member of the Armed Forces and his or her dependent may not exceed an annual percentage rate of 36
percent. This rate must include, as applicable to the credit transaction or account: The costs associated with

credit insurance premiums; fees for ancillary products sold in connection with the credit transaction; any
application fee charged (other than certain application fees for specified credit transactions or accounts); and
any participation fee charged (other than certain participation fees for a credit card account).

5 Proceeds. I agree that the proceeds of my loan will be paid via an electronic fund transfer into the
deposit account I have identified in my loan application, or in such other manner as you determine. I
acknowledgement that the timeliness of crediting proceeds to this account is dependent on the accuracy of the
information I provide, when I complete all origination activities, and prompt crediting by the financial
institution that holds my account. You are not responsible for the actions of the financial institution that holds
my account.

6 Method of Payment. I agree to pay the principal, periodic interest and any fees on this Note when
due. You have given me the choice of making my monthly payments by (i) an ACH or other electronic fund
transfer from my bank account that I have authorized to automatically recur, (ii) by an ACH transfer initiated
by me each month, or (ii) personal check by regular mail to Upstart Loan Operations, P.O. Box 1503, San
Carlos, CA 94070 or any subsequent creditor that I am notified of. If I have completed an ACH bank transfer
authorization, then you will automatically transfer my first payment in the amount specified in the
authorization from my b: ;ount, unless I cancel or modify this payment at least 3 business days before its
scheduled date by contact you, as described in Section 14, or your bank. If my ACH banktansfers are
rejected or returned/fot any reason, Lyn and)2 agree-that yeu-may try So- debit my-aceeunt two more
times. I also agree you may apply the A‘ ret rh/chedk refund fée described in Section 4, subject to
applicable law, each time an ACH trans $ returned or rejec ed. I acknowledge that my financial institution
may also charge a feta Ligh toyou foe andy Yate not onsible for any h fees. All written
communications concer! disputed amounts} including any/ ‘heck or other payment instrument that (i) is
postdated and accompanied by adequate notice, (ii) indicAtes‘that the payment constitutes “payment in full” of
the amount owed, (iii) is tendered with other conditions or limitations or (iv) is otherwise tendered as full
satisfaction of a disputed amount, must be marked for special handling and mailed or delivered to us at Upstart
Loan Operations, P.O. Box 1503, San Carlos, CA 94070.

Tahisto
7 Waiver of Defe Except a§ otherwise provideil in this Note or as required]by applicable law,
you are not responsible 0 Oo me for the quality, safety, legalityor any other aspect ofjany property or
\
t or servifh /apply
services purchase: with the p: rr
purchased such property ? if I
your rights, nor your delay in enfor¢ing ok éxetcising ahy Of your fights, w; waive those rights. Furthermore,
if you waive any right\under this Note on one ccasion jthat\waiyer will not operate as a waiver as to any other
occasion. Subject to appli ablefaw's, \unless Tam «, ‘covered borrower” under\ Military\Lending Act, 10
U § 987, I waive pre: ntment, notice of dishonor, protes /and all other demands and notices in connection
with the delivery, acceptance, performance or-enforcemeft of this Note.

12. Assignment. I am not allowed to assign any of my obligations under this Note without your written
permission. I understand that you do not have to give me permission. I agree that you may assign or transfer
this Note or any of your rights to another person or entity. You may take these actions without notice or
consent from me. ADYABER Canser of my Note does not afféct my rights and duties under this Note.
-
tnc., ¢ se IUpstart’) to“act'as a non-fiduciary agent.
13.
* |
Registra jon. You and appoint Upstart Network,
Upstart will keep at its officesjan electronic
“Register”). The names and1 93 iddress of any P m
igister of any transf er J assignment
:
or: Sale of this Note (the
rsomentitled to|payments on my ‘Not will be| recorded in the
Register. Any assignment;fafticipation or-transfer of this Note'or-any-of its-rights shail registered
be in the
Register and only if Upstart receives a signed assignment/or similar agreement in a reasonably acceptable. You
and I agree that beneficial ownership of all payments ufider my Note as reflected in the Register will be
conclusive. Upstart will give me notice of a change in ownership of my Note reflected in the Register if
required by law. Upstart will also give me notice if I pay by check and the transfer changes the address to
which I must make payments. The name of the owner in the Register shall be available to me upon written
request to Upstart. This Section is intended to result in this Note being maintained at all times in “registered
form” as defined by U.S. Treasury Regulations Section 1.871-14(c) and Sections 163(f), 871(h) and 881(c) of
the Internal Revenue Code of 1986, as amended, and will be interpreted and applied in a way that is consistent
with these laws.

14. Electronic Communications; Notices; Contacting You. When I applied for a loan from you, I
expressly agreed to receive electronically all communications, agreements, documents, notices and disclosures
(collectively, "Communications") that you provide in connection with this Note and Upstart‘s servicing of my
payment obligations under this Note. All Communications given to me by email to my registered email
address or posted on www.upstart.com is deemed to have been duly given and effective upon transmission or
when they were posted. I agree that you (including any other owner or servicer of my loan) may contact me

for any lawful reason, including for the collection of amounts owed to you. No such contact will be deemed
unsolicited. You may contact me at such addresses or numbers (including cell phone numbers and landlines)
as I may provide to you from time to time and you may use any means of communication, including regular
mail, electronic mail, telephone, text message or other technology, to reach me. I agree that you may use
automatic dialing and announcing devices which may play recorded messages. I represent that I have the
authority to provide this consent because I am either the subscriber of the telephone number(s) or the
customary user of each of the telephone numbers that I have provided to you who has the authority to provide
consent. I also provide this consent to any agent, service provider, vendor, or collection agency acting on your
behalf. I may contact you at any time to ask that you not contact me using any one or more methods or
technologies. I acknowledge that communications from you may contain sensitive, confidential, and
collections-related communications. If my information changes, such as my email address, my mailing
address or my telephone number, I agree to notify you promptly of the change.

I can contact you by logging into www.upstart.com. I may contact you by emailing support@upstart.com, by
calling (650)-204-1000 during your operating hours 9:00 AM Pacific time to 5:00 PM Pacific time, each
Monday through Friday that are business days, or by writing via regular mail care of Upstart Loan Operations,
P.O. Box 1503, San Carlos, CA 94070.

15. Credit Inquiries, Loan Information; Inaccurate Information. I authorize y(t stain a credit
report on me for any légal purposeit yeonnection with this-Note, including anya late- extension of credit,
review, or collection of this loan. [request, } ott Will fell\me whéther any’credit\réport was requested, and if
so, the name and address of the credit buréay fi mishing the \repert. If I believe that you have information
about me that is inacoutat Kat you. have’ repo} Lor may teport inaccurate\i formation about me to a credit
bureau, I will notify you the specific information that I beligve is inaccurateby writing to you care of
Upstart Loan Operations, P.O. Box 1503, San-Carlos, CA.94070. In doing so, I will identify the inaccurate
information and tell you why I believe it is incorrect. If I have a copy of the credit report that includes the
inaccurate information, I will send a copy of that report to you as well.

16. Governing Law; Misc. I understand and agree that CRB is an FDIC-insured institution located in
New Jersey. Consequenthy; provisions of this Note will be(governed by federal law and (to the extent not
preempted by fedeyal/faw) thal ws of the State of New Jersey, without regard to conflict of/law rules, except

i 4
as noted above. Hi wever, if I ategident of Colora When I| sign this-Note / in, the provisions of this Note
will be governed f
federal la
terms of this Note felating to
ind (to the
crest), the la}
except as noted aboveWithout limiting the foregoing,
defined under applicable federal law, including but.not
i
tent, not preemp
of t c :
ed by fede: I law, ot 1 ding ith respect to the
“State of “olo ido w) thoy? fe: rd to cqnflict of law rules,
rms-of this ote: relatifig{6 interest, as that term is
d to origination fees, periodic interest, late fees
and returned check fees, shall be governed by 12 U: - § 1831d and the laws of the State of New Jersey.
Section 17 (Arbitration Agreement) is governed by the Federal Arbitration Act, and not by any state law
concerning arbitration. If any provision of this Note cannot be enforced, the rest of the provisions of this Note
will stay in effect. No amendment of this Note will be valid unless in writing and signed by both you and me.
This Note represents the entire agreement between you and me regarding my loan.

17. Complaints; Disputes; Arbitration.
NOTICE: IF I AM ARE A COVERED BORROWER UNDER THE MILITARY LENDING ACT, 10
US.C. § 987, THE FOLLOWING ARBITRATION PROVISION DOES NOT APPLY TO ME.
A Governing Law. I acknowledge agree that the Note involves interstate commerce and that this
arbitration clause will be construed, applied and governed by the Federal Arbitration Act, 9 U.S.C. § | et seq.,
("EAA"), as amended. The Arbitrator (defined below) shall apply applicable law and applicable statutes of
limitation consistent with the FAA and shall honor claims of privilege recognized at law.

B. Dispute. jispute” means any action, dispute, claim, or controversy of any kind arising out
of, in connection with or in any way related, even indirectly, to the Note or the extension of credit set forth in
the Note. For example, “Dispute” includes claims related to: any relationship resulting from, or activities
connected to this Note; my application; information I have provided to you; information and disclosures you
have provided to me; any prior agreements between you and me; extensions; renewals; refinancings; payment
plans; underwriting; servicing; collections; privacy; and customer information. The term "Dispute" also
includes: claims under federal or state consumer protection laws; claims in tort or contract; claims under
statutes or common law; claims at law or in equity; other past, present or future claims, counterclaims, cross-
claims, third party claims, interpleaders or otherwise; and any claim relating to the interpretation, applicability,
enforceability or formation of this arbitration clause, including, any claim that all or any part of this arbitration
clause, except paragraph G below, is void, voidable or unconscionable.
c Mandatory Arbitration: Unless otherwise stated in this arbitration clause, any "Dispute
between the Parties shall, at your or my election or the election of any of our respective heirs, successors
assignees or related third parties, including Upstart, any other subsequent holder of my Note, and their
affiliates, subsidiaries, and parents, (the “Parties"), be resolved by a neutral, binding arbitration, and not by a
court of law. This procedure includes any Dispute over the interpretation, scope, or validity of this Note, this
arbitration clause or the arbitrability of any issue, with the sole exception of the Parties’ wai T of any right to
bring a class action or toy ieifpate in a class action as provided for under paragraph G below ‘shall be solely
determined by the appropriate dourt, if i necessary. This arbitration clause applies to the Patties, “including their
respective employees |jor agents, as poral mat s hich, afise(out Fe or relatetot this Note: orate in any way
fe
connected with the extension of credit set forth in thi S Note\ or aby
|
a resulting |transaction or relationship.
Facts Ab ss Abiaton: An rbitr: tion, a neuifal third patty\(* Arbitrator”) resolves
Dispute: Sy instead of a ju or jury. T, with you, Waive the right to go to court. The Arbitrator will conduct a
hearing, which is private and less formal than-a court trial Each side will have the opportunity to present some
evidence to the Arbitrator. The Arbitrator may limit the Parties’ ability to conduct fact-finding prior to the
hearing, called “discovery.” Other rights that the Parties might have in court might not be available in
arbitration. Following the hearing, the Arbitrator will issue an award. The Arbitrator’s decision is final, and a
court may then enforce the award like a court t judgment. Courts rarely overturn an Arbitrator’ s award.
E. PrecArbitration Resolution: Prior to starting. ‘atbitration, Tcan call you a ( 50) 204-1000 or
write to you at Upstaft Loan Opérations;P.0;Box 3,San Carlos; CAS are etemett resolve the

;
Dispute. We will try to resolve the Digpute.\I you thake }wri ten offer « ttlement , 1 may reject it
and arbitrate. If wé do not resglye the Disp
settlement proposal’,
F.
fo
| either. “party may stant arbi ation No
linle’a Settlemer ni bffer, Ho the Atb trator. \ aX A
ot in disclose

Rules and Procedures: Either ganty may/start arbitration by mailing a notice of arbitration,
even if a lawsuit has been filed. Such notice shall be given by certified mail, return receipt requested. Notice to
me shall be sent to the email address I provided to you in my loan application, as updated. Notice to you, your
assignees or related third parties shall be sent to Upstart Loan Operations, P.O. Box 1503, San Carlos, CA
94070. The Party initiating the arbitration shall set forth in the notice the nature and factual basis of the
Dispute, the names and addresses of all other Parties, the amount involved, and the specific relief requested.
The responding Party must mail a response within 45 days, and may also set forth any counter-Disputes. The
American Arbitration Association (“AAA”) shall conduct any arbitration according to this arbitration clause.
The AAA arbitration rules in effect when the claim is filed apply (‘AAA Rules”), except where those rules
conflict with this Arbitration Clause or any of our agreements with you. I can get copies of the AAA Rules at
the AAA’s website (www.adr.org) or by calling 800-778-7879. You or I may choose to have a hearing, appear
at any hearing by phone or other electronic means, and/or be represented by counsel
G Class Action Waiver: The Parties agree to give up any right they may have to bring a class
action lawsuit or class arbitration, or to participate in either as a claimant. The Parties agree to give up any
right to consolidate or join any arbitration proceeding with the arbitration of others. The Parties give up the
right to serve as a private attorney general in any jurisdiction in which such procedure might be permitted. To

the extent the Parties are permitted to file small claims under Paragraph K below, the Parties agree that any
small claim may only be brought on an individual basis and that no small claim may be brought on a class or
representative basis. The Parties further agree that if a court or arbitrator decides this Paragraph G is void or
unenforceable, this arbitration clause shall be void and without effect.
H Fees and Costs: If I request, you shall advance all of the Arbitrator’s fees and expenses, as
well as all administrative and filing fees, up to an amount of $1000. The Parties shall be responsible for their
own attorneys’ fees associated with any arbitration, unless otherwise allowed for under applicable substantive
law and awarded by the Arbitrator. If the Arbitrator awards me funds, I will not have to reimburse any
arbitration fees and expenses you have advanced. If the Arbitrator does not award me funds, I agree to
reimburse you for any arbitration fees and expenses you have advanced. Any such reimbursement shall not
exceed the filings fees and costs I would have incurred had I filed a lawsuit in court.
L Exceptions The Parties agree that this arbitration clause is not applicable to "small
claims" meaning those claims that either Party is entitled to file and maintain in an appropriate small claims
court or any action where the total amount in controversy is no greater than $10,000, including any claims for
attorney's fees and non-monetary relief. The Parties agree that any small claim may only be brought on an
individual basis and that no small claim may be brought on a class or representative basis. The Parties agree
that any appeal from a judgment obtained pursuant to this paragraph shall be appealable me by arbitration
according to the Progediite ‘orth in this arbitration clause.
J. Seve| ability: Ifjt is deter ined that ‘any pa ragraph or provision ifFthis ebitration clause is
illegal, invalid, or un nforceable, such illegality, inv. idity
paragraphs and pro signs of t] agbitration! clayse. The
unenforceability shall \not affect the other
ye rem\ der of this arbitration clause shall continue in
full force and effect asi. nthe severed Sariggap orpre Vision hyd not been indhided. Notwithstanding this
severability provision, if a court of competent jjutisdiction-detérmines paragraph G to be void, illegal, invalid,
or unenforceable, the Parties agree that paragraph G above Shall not be severed and that this arbitration clause
shall be void in its entirety.
K. Right to Opt Out. If I do not want this arbitration clause to apply, I may reject it by mailing a
written notice to you that lists my name, address and account number and states that I am opting out of the

nak 10 more
arbitration clause. An Lopteut. otice is only €ffective if it is signed by me, and the envelepé|that the opt out
notice is sent in is postmarked than 30 calendar days after the date I sign this Note| If I opt out of this

(
arbitration clause, jit ill not ai
h febe ‘anyotherI rovisfons PANE Noté omy wbligations under the Note. If I do

os off
not properly opt out iS set fort] above, it wi e ef ecti ‘das of the lateo} the Nose f I opt out of this
arbitration clause, such clectisyshal ppely Ly te jote, iid ny to al T paLst, prpseent or future
agreements I have with
a
FOR ALL DISPUTES COVERED BY THIS feouston, THE PARTIES HAVE AGREED TO
WAIVE THEIR RIGHT TO A TRIAL BY JURY, THEIR RIGHT TO PARTICIPATE IN CLASS
ACTIONS OR CLASS ARBITRATIONS, AND THEIR RIGHT TO SEEK PUNITIVE AND/OR
EXEMPLARY DAMAGES. EXCEPT FOR DISPUTES AND CLAIMS NOT SUBJECT TO THIS
PROVISION, ARBITRATION SHALL BE IN PLACE OF ANY CIVIL LITIGATION IN ANY
COURT AND IN PLACE OF ANY TRIAL BY JURY.
THE TERMS OF THIS PROVISION AFFECT MY LEGAL RIGHTS. IF IDO NOT UNDERSTAND
ANY TERMS OF THIS PROVISION OR THE COST, ADVANTAGES OR DISADVANTAGES OF
ARBITRATION, I UNDERSTAND I SHOULD SEEK INDEPENDENT ADVICE BEFORE SIGNING
THIS NOTE. BY SIGNING THIS NOTE, I ACKNOWLEDGE THAT I HAVE READ, UNDERSTAND
AND AGREE TO BE BOUND BY EACH OF THE PROVISIONS, COVENANTS AND
STIPULATIONS SET FORTH ABOVE.

18 NO WARRANTIES; LIMITATION ON LIABILITY. EXCEPT AS EXPRESSLY SET FORTH
IN THIS NOTE, I UNDERSTAND YOU HAVE MADE NO REPRESENTATIONS OR WARRANTIES TO

ME, INCLUDING ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE. IN NO EVENT WILL YOU BE LIABLE TO ME FOR ANY LOST PROFITS
OR SPECIAL, EXEMPLARY, CONSEQUENTIAL OR PUNITIVE DAMAGES, EVEN IF I INFORM YOU
OF THE POSSIBILITY OF SUCH DAMAGES. FURTHERMORE, I UNDERSTAND YOU MAKE NO
REPRESENTATION OR WARRANTY TO ME REGARDING THE EFFECT THAT THE NOTE MAY
HAVE UPON YOUR FOREIGN, FEDERAL, STATE OR LOCAL TAX LIABILITY.

19. Entire Agreement. The Upstart® application, and loan disclosures are incorporated into this Note by
reference. This Note represents the entire agreement between CRB and me.

20. Miscellaneous. To the greatest extent not prohibited by applicable law, I am liable to you for your
legal costs if you refer collection of my loan to a lawyer who is not your salaried employee. These costs may
include reasonable attorneys' fees as well as costs and expenses of any legal action. If a law that applies to my
loan and sets maximum loan charges is finally interpreted so that the interest or other loan charges collected or
to be collected in connection with my loan exceed the permitted limits then: (a) any such loan charge will be
reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already
collected from me that exceeded permitted limits will be refunded to me. You may choose to make this refund
by reducing the principal I e under this Note or by making a direct payment to me. No provision of this
Note may be modified or I except by a written agreement signed by both you and me. The
unenforceability of Any prov idh off this Note Spotter Sporoestiy or.Raligity of any other
provision of this Note.

For full print and download access, please subscribe at https://www.trellis.law/.

Complaint,Petition: VELOCITY INVESTMENTS LLC vs BOWERS

Preview

Case Info

Parties