Preview
Superior Court of California F
James Felton. (State Bar No. 138767)
jfelton@gblawllp.com County of Butte
G&B LAW, LLP 10/7/2020 L
16000 Ventura Boulevard, Suite 1000
Encino, California 91436 E
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Tel: (818) 382-6200 Fax: (818) 986-6534
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Attorneys for Petitioner
J.G. Wentworth Originations, LLC
SUPERIOR COURT OF THE STATE OF CALIFORNIA
FOR THE COUNTY OF BUTTE, NORTH BUTTE COUNTY COURTHOUSE
10
ll IN RE TONJA OLIVER; CASE NO.: 20CV01986
12 APPROVAL FOR TRANSFER OF UNLIMITED JURISDICTION
STRUCTURED SETTLEMENT PAYMENT
13 RIGHTS BY AND BETWEEN TONJA VERIFIED PETITION FOR APPROVAL
OLIVER, TRANSFEROR, AND J.G. FOR TRANSFER OF STRUCTURED
14 WENTWORTH ORIGINATIONS, LLC, SETTLEMENT PAYMENT RIGHTS BY
TRANSFEREE AND BETWEEN TONJA OLIVER AND
tay 15 J.G. WENTWORTH ORIGINATIONS,
LLC, PURSUANT TO CALIFORNIA
16 INSURANCE CODE § 10134 ET SEQ.
17 DATE: November 18, 2020
TIM 9:00 a.m.
18 DEP’
19 COMES NOW J.G. Wentworth Originations, LLC, by the undersigned counsel, which
20 respectfully petitions this Court pursuant to §§ 10134 et seq. of the California Insurance Code, as
21 amended, for approval of the transfer of certain structured settlement payment rights, and in support
22 hereof, states as follows:
23 I
24 INTRODUCTION
25 1 That in or about April 1, 2010, Transferor, Tonja Oliver fka Tonja Sharp and Tonja
26 Evans, entered into an agreement for the settlement of a claim for damages arising in connection
27 with a personal injury claim;
28
1
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS,
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2. That the settlement agreed to by the Transferor provides for periodic structured
payments including, but not limited to, A) 60 monthly payments of $509.10 each, beginning on
September 21, 2028 and ending on August 21, 2033;
3 That the “annuity issuer” who has issued an insurance contract used to fund the
structured settlement payments is Prudential Insurance Company of America;
4 That the “structured settlement obligor” with respect to the aforementioned structured
settlement payments is Prudential Assigned Settlement Services Corp.;
5 That Transferor, Tonja Oliver, has agreed to sell, and Transferee, J.G. Wentworth
Originations, LLC, has agreed to purchase certain monthly payments as referenced within their
10 proposed Purchase Agreement. A true and correct copy of the proposed Purchase Agreement is
ll attached hereto as Exhibit “A” and incorporated herein by this reference;
12 6 That in order to effectuate the transfer of the payments set forth in the Purchase
13 Agreement, Petitioner J.G. Wentworth Originations, LLC must first obtain court approval of the
14 transfer pursuant to amended California Insurance Code § 10134, et seq.;
tay 15 7 That in order for this Court to approve said transfer, certain statutory provisions as set
16 forth in California Insurance Code §§ 10134-10139.5 must be met. The applicable provisions of
17 these code sections are:
18 (A) The transferee provide the transferor with a separate written
19 disclosure statement 10 or more days prior to the effective date of a
20 transfer agreement accurately completed with the information that applies
21 to the transfer agreement as required by Cal. Ins. Code, § 10136(b) (a true
22 and correct copy of the separate written disclosure statement is attached
23 hereto as Exhibit “B” and incorporated herein by this reference);
24 () Notice of the proposed transfer and the application for its
25 authorization must be filed with a court of competent jurisdiction, to wit, a
26 court in the county in which the payee resides, see Cal. Ins. Code, §
27 10139.5(f)(1), and served on all interested parties pursuant to Cal. Ins.
28 Code, § 10139.5(£)(2); and
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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(Q) The transfer of the structured settlement payment
rights is fair and reasonable and in the best interest of the
payee, taking into account the welfare and support of his or
her dependents (Cal. Ins. Code, § 10137(a)
Q) The transfer complies with the requirements of Cal.
Ins. Code, §§ 10134 et seq., will not contravene other
applicable law (Cal. Ins. Code, § 10137(b), and is to be
approved by a court as provided in Cal. Ins. Code, §
10139.5.
10 It is submitted that all of the foregoing requirements either have been met or will be met prior
ll to any scheduled hearing, and the Petitioner respectfully requests that this Court approve the transfer
12 of the structured settlement payments that are the subject of this Petition.
13 IL.
14 JURISDICTION AND VENUE
tay 15 The payee, Tonja Oliver, is and at all times relevant herein was, a resident of the State of
16 California, County of BUTTE and as such, this Court has proper jurisdiction and venue to hear this
17 Petition pursuant to California Insurance Code §§ 10136 and 10139.5(f)(1).
18 lll.
19 REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10136(b) HAVE BEEN MET
20 (DISCLOSURE TO PAYEE)
21 California Insurance Code § 10136(b) requires that at least ten days prior to the effective date
22 of the transfer agreement, the transferee shall provide the payee with a separate written disclosure
23 statement. The disclosure statement must be in at least 12-point type unless otherwise indicated and
24 accurately completed with the information that applies to the transfer agreement in a form
25 substantially similar to that set forth in California Insurance Code § 10136(b). The required separate
26 written disclosure is attached hereto as Exhibit “B” and incorporated herein by this reference.
27
28
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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Iv.
THE TRANSFER OF THE STRUCTURED SETTLEMENT PAYMENT RIGHTS IS FAIR
AND REASONABLE AND IN THE BEST INTEREST OF THE PAYEE
California Insurance Code § 10137(a) requires that the transfer of the structured settlement
payment rights is fair and reasonable and in the best interest of the payee, taking into account the
welfare and support of her dependents.
It is submitted that the best interest of Tonja Oliver would be served by granting the relief
requested herein because the original structured settlement entered into by Tonja Oliver, fka Tonja
Sharp and Tonja Evans, on April 1, 2010 as evidenced by a true and correct copy of the settlement
10 agreement attached to the underlying Petition as Exhibit “D” and incorporated herein by reference
ll was intended as compensation for a personal injury claim.
12 Tonja Oliver is 46 years old and married to Larry Oliver. Dependent information, if any, will
13 be included in the declaration to be filed in this matter. Tonja Oliver is currently employed. If
14 approved, she will receive $10,000.00 from this transaction. Tonja Oliver feels it is in her best
tay 15 interest to enter into this transaction with the Petitioner and sell a portion of her underlying annuity
16 payments so that she can have the financial means to help supplement expenses due to her husband
17 having extensive surgery and being out of work for a period of time as will be set forth in the
18 declaration to be filed in this matter.
19 It is submitted that the funds received from the transaction contemplated in the Purchase
20 Agreement can be better used today to provide for the foregoing, rather than to provide support to
21 Tonja Oliver several years from now.
22 Tonja Oliver has been advised in writing to seek independent professional advice regarding
23 the transfer and has either received that advice or knowingly waived that advice in writing. A copy
24 of the Waiver is attached hereto as Exhibit “E”.
25 Vv.
26 REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10139.5(f)(2) HAVE BEEN
27 MET (PROPER DOCUMENTS PRESENTED TO THIS COURT)
28 California Insurance Code § 10139.5(f)(2) requires that a notice of the proposed transfer and
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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the application for its authorization be filed with the Court and served on all interested parties not
less than 20 days prior to the scheduled hearing on any petition for approval of a transfer of
structured settlement payment rights. This notice must include the following documents:
a A copy of the transferee’s current petition (which is this Petition) and any other prior
petition whether approved or withdrawn; that was filed with this court in accordance with California
Insurance Code §10139.5(c)(6) (Exhibit “F” and footnote 1, if applicable);
2) A copy of the proposed transfer agreement and disclosure form required by California
Insurance Code §10139.5(a) (Exhibit “A”);
Q) A listing of each of the payee’s dependents, together with each dependent’s age, if
10 any (see Declaration);
ll (4) A copy of the disclosure required by California Insurance Code §10136(b) (Exhibit
12 “B”);
13 () A copy of the annuity contract and a copy of any qualified assignment agreement, if
14 applicable (Exhibit “C”);
tay 15 (6) A copy of the underlying settlement agreement, if available (Exhibit “D”);
16 ) Proof of Service showing compliance with the notification requirements of this
17 sections (Proof of Service to be filed after a hearing date and case number is obtained);
18 (8) Notification that any interested party is entitled to support, oppose, or otherwise
19 respond to the transferee’s application, either in person or by counsel, by submitting written
20 comments to the Court or by participating in the hearing;
21 (9) Notification of the time and place of the hearing and notification of the manner in
22 which and the time by which written responses to the application must be filed, which may not be
23 less than 15 days after service of the transferee’s notice, in order to be considered by the Court; and
24 (10) If the payee entered into the structured settlement at issue within five years prior to
25 the date of the transfer agreement, then the transferee shall provide notice to the payee's attorney of
26 record at the time the structured settlement was created.
27
28
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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VI.
REQUIREMENTS OF CALIFORNIA INSURANCE CODE § 10139.5(h) HAVE BEEN MET.
(ADVISORY STATEMENT TO PAYEE OF RIGHT TO SEEK INDEPENDENT COUNSEL
AND FINANCIAL ADVICE IN CONNECTION WITH TRANSFER)
California Insurance Code § 10139.5(h) requires that no later than the time of filing of the
Petition for court approval, the Transferee shall advise the payee of the payee’s right to seek
independent counsel and financial advice in connection with the Transferee’s petition for court
approval of the transfer agreement, and that the Transferee shall further advise the payee that if the
payee retains counsel, a licensed certified public accountant, or a licensed actuary in connection with
10 a petition for an order approving the transfer agreement, then the Transferee shall pay the fees of the
ll payee’s counsel, accountant, or actuary, regardless of whether the transfer agreement is approved,
12 and regardless of whether the attorney, accountant, or actuary files any document or appears at the
13 hearing on the application for transfer, in an aggregate amount not to exceed one thousand five
14 hundred dollars ($1,500). Further, that such advice may not be provided by an accountant, counsel,
tay 15 or actuary of the Transferee (Exhibit “B”).
16 It is submitted to this Court that this Petition, the Notice of Petition attached hereto, and the
17 advisory statement provided to the payee all comply with and satisfy the requirements of California
18 Insurance Code § 10139.5.
19 VIL.
20 ADDITIONAL FACTORS PROMOTE THE GRANTING OF THIS PETITION
21 As of January 1, 2010, California Insurance Code section 10139.5 was amended to give the
22 Court additional factors to consider in determining whether to grant a Petition. As already set forth
23 above or as now set forth below, this Petition will either address those requirements that are
24 applicable and how such requirements support the granting of the Petition or that such additional
25 considerations do not apply.
26 1 Payee’s Financial Condition:
27 Tonja Oliver is currently employed.
28
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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2. Whether the Payee is transferring Monthly or Lump Sum or All or a Portion of the
Future Payments:
Tonja Oliver is transferring A) 60 monthly payments of $509.10 each, beginning on
September 21, 2028 and ending on August 21, 2033. There are no future payments. Tonja Oliver
will be receiving $10,000.00 from this transaction.
3 Whether when the settlement was completed, the future periodic payment(s) that are
the subject of the proposed transfer were intended to pay for the future medical care and treatment of
the payee relating to injuries sustained by the payee in the incident that was the subject of the
settlement and whether the payee still needs those future payments to pay for that future care and
10 treatment.
ll The future periodic payment(s) that are the subject of the proposed transfer were not
12 intended to pay for the future medical care and treatment.
13 4 Whether when the settlement was completed, the future periodic payment(s) that are
14 the subject of the proposed transfer were intended to provide for the necessary living expenses of the
tay 15 payee and whether the payee still needs the future structured settlement payments to pay for future
16 necessary living expenses
17 The future periodic payment(s) that are the subject of the proposed transfer were not
18 intended to provide for necessary living expenses.
19 5 Whether the payee is, at the time of the proposed transfer, likely to require future
20 medical care and treatment for the injuries that the payee sustained in connection with the incident
21 that was the subject of the settlement and whether the payee lacks other resources, including
22 insurance sufficient to cover those future medical expenses.
23 The future periodic payment(s) that are the subject of the proposed transfer were not
24 intended to provide for medical care and treatment.
25 6 Whether the payee has other means of income or support, aside from the structured
26 settlement payments that are the subject of the proposed transfer, sufficient to meet the payee’s
27 future financial obligations for maintenance and support of the payee’s dependents, specifically
28 including, but not limited to, the payee’s child support obligations, if any. The payee shall disclose
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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to the transferee and the court her court-ordered child support or maintenance obligations for the
court’s considerations.
Tonja Oliver is currently employed. She has no court-ordered child support or
maintenance obligations.
7 Whether the payee completed previous transactions involving the payee’s structured
settlement payments and the timing and size of the previous transactions and whether the payee was
satisfied with any previous transaction.
Tonja Oliver has completed previous transactions involving the payee’s structured
settlement payments.!
10 8 Whether the transferee attempted previous transactions involving the payee’s
ll structured settlement payments that were denied, or that were dismissed or withdrawn prior to a
12 decision on the merits, within the past five years.
13 Tonja Oliver has not attempted previous transactions involving the payee’s structured
14 settlement payments that were denied, or that were dismissed or withdrawn.
tay 15 9. Whether, to the best of the transferee’s knowledge after making inquiry with the
16 payee, the payee has attempted structured settlement payment transfer transactions with another
17 person or entity, other than the transferee, that were denied, or which were dismissed or withdrawn
18 prior to a decision on the merits, within the past five years.
19 Not applicable. See question No. 8 above.
20 10. Whether the payee, or her family or dependents, are in or are facing a hardship
21 situation.
22 Tonja Oliver is facing a hardship situation. Tonja Oliver would like to enter into this
23 transaction with the Petitioner and sell a portion of her underlying annuity payments so that she can
24 have the financial means to help supplement expenses due to her husband having extensive surgery
25 and being out of work for a period of time.
26
27 ' On July 10, 2019, Judge Tamara L. Mosburg of this Court granted a petition with reference
to the sale of annuity payments from the Payee (as T. Evans) to J.G. Wentworth Originations, LLC
28 (Case No. 19CV01633). A true and correct copy of the Order entered in that matter is attached
hereto as Exhibit "F".
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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ll. Whether the payee received independent legal or financial advice regarding the
transaction.
Tonja Oliver has been advised in writing to seek independent professional advice
regarding the transfer and has either received that advice or knowingly waived that advice in writing.
A copy of the Waiver is attached hereto as Exhibit “E”.
Vill.
REQUIREMENTS OF CALIFORNIA INSURANCE CODE §§ 10134(e), 10136(e), 10136(c)(4)
AND 10136(b) HAVE BEEN MET (AUTHORITY TO ASSESS AND DEDUCT EXPENSES
FROM PURCHASE PRICE)
10 “Expenses” are defined under section 10134(e) of the California Insurance Code as:
«“
ll . . [AJ broker’s commissions, service charges, application or
12 processing fees, closing costs, filing or administrative charges, legal fees,
13 notary fees and other commissions, fees, costs, and charges that a payee
14 would have to pay to transfer the structured settlement payment rights of a
tay 15 structured settlement agreement or that would be deducted from the gross
16 consideration that would be paid to the payee in connection with the
17 transfer of the structured settlement payment rights of a structured
18 settlement agreement.”
19 A transferee may deduct “expenses” from the gross purchase price to be paid to a payee. To
20 do so: “The aggregate amount of all expenses, if any, to be deducted from the purchase price to be
21 paid to the payee in exchange for the payments to be transferred, and an itemization of all expenses
22 by type and amount” must be set forth “clear and conspicuously, and in no less than 12-point type.”
23 (See Cal. Ins. Code, §§ 10136(c) and 10136(c)(4).)
24 Moreover, 10136(b) described how to “clear and conspicuously” set forth “expenses:
25 “Ten or more days before the payee executes a transfer agreement, the transferee
26 shall provide the payee with a separate written disclosure statement, accurately
27 completed with the information that applies to the transfer agreement . . in at
28 least 12-point type unless otherwise indicated . . . [Further] “To figure the net
VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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amount we are paying, we have charged you for the following expenses:
(itemize in a list by type and amount) for a total of $ in expenses.”
(emphasis added)
In the case pending before this Court, all “expenses” to be deducted from the purchase price
are itemized by type and amount in 14-point bold font in the separate written disclosure attached
hereto as Exhibit “B” and are also set forth in 14-point bold font in the Purchase Agreement attached
hereto as Exhibit “A”. Both Exhibits “A” and “B” are incorporated herein by reference. The
“types” of expenses itemized in both Exhibits “A” and “B” are based on the definitions of expenses
set forth in section 10134(e).
10 Exhibit “B”, the disclosure statement, was provided to the payee in compliance with the
ll requirements of California Insurance Code § 10136, and the payee has also acknowledged the
12 deduction of the expenses.
13 Ix.
14 “FILING AND RELATED EXPENSES” ARE NOT “COURT COSTS AND FILING FEES”
tay 15 AS DESCRIBED IN SECTION 10139.5(g) OF THE CALIFORNIA INSURANCE CODE
16 Section 10139.5(g) of the California Insurance Code provides that: “All court costs and filing
17 fees shall be paid by the transferee”. All court costs and filing fees related to the filing of the instant
18 Petition have been paid by the transferee and are not being deducted from the gross purchase price.
19 Mit
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VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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x.
CONCLUSION
Petitioner respectfully requests that upon fulfillment of all disclosures and notices set forth
under California Insurance Code §§ 10134, et seq., this Court enter an Order approving the transfer
agreement attached hereto as Exhibit “A” by and between Tonja Oliver, Transferor, and J.G.
Wentworth Originations, LLC, Transferee.
(ha
Dated: October 2, 2020 G&B LAW, LLP
MES R. FELTON
10 Attorneys for Petitioner
J.G. Wentworth Originations, LLC
ll
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VERIFIED PETITION FOR APPROVAL FOR TRANSFER OF STRUCTURED SETTLEMENT PAYMENT RIGHTS
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Transfer of Structured Settlement Payments: Tonja Oliver
Verification
I, Shannan Colangelo, Vice President of J.G. Wentworth Originations, LLC, am
familiar with the contracts utilized and the procedures adhered to in the course of transferring
structured settlement benefits, and I hereby verify that all of the conditions of Section 10136,
10137 and 10138 of the law governing the transfer of structured settlement payments (Chapter
624) have been complied with.
I declare under penalty of perjury pursuant to the laws of the State of California that the
foregoing is true and correct. Executed October 1, 2020.
aa
y u—
Shannan Colangelo
EXHIBIT A
DocuSign Envelope ID: 2F502242-7585-4505-A0A8-E3521B8B044B
Account ID; 460906
CALIFORNIA PURCHASE CONTRACT
This is a Purchase Contract (“Contract”) for the sale of structured settlement payments between
Tonja Oliver (You, Your), and J.G. Wentworth Originations, LLC (We, Us, Our)
3993 Howard Hughes Parkway, Suite 250, Las Vegas, NV 89169-6754.
BACKGROUND
In connection with the resolution of a personal injury claim, You or someone acting for You,
signed a Settlement Agreement that entitles You to receive certain future payments (“Settlement
Payments”), according to a set schedule.
Those Settlement Payments are being paid to You from an annuity policy (“Annuity Policy”) purchased
by the Person responsible for making the Settlement Payments to You (“Obligor’”).
Rather than wait for the Settlement Payments to be made to You in the future, You want to sell all or
some of those Settlement Payments (“Purchased Payments”) to Us now for a lump sum.
DEFINED WORDS
Certain words used in this Contract have specific meanings, shown below.
Affiliate An entity controlled by, controlling, or under common control with, another
entity.
Annuity Policy The policy purchased by the Obligor to ensure that the Settlement Payments are
made to You as required by the Settlement Agreement.
Closing Documents Any documents necessary to carry out the purchase of the Purchased
Payments, other than the “Contract or Contract Documents” as defined
below.
Contract or Contract
Documents Collectively, only this Contract and the Disclosure Statement.
Contract Date The date Your signature at the end of this Contract is E-signed and date
stamped. However, if You happen to sign this Contract before the number
of days stated at the end of Your Disclosure Statement for waiting has
passed, You will have no obligation under Your Contract until that time has
passed.
Court Order A legally binding ruling issued by a judge or properly empowered administrative
officer, approving the sale of the Purchased Payments to Us (“Court Approval”).
Disclosure Statement The document which identifies for You, the Purchased Payments, expenses,
Ve
DocuSign Envelope ID: 2F502242-7585-4505-A0A8-E3521B8B044B
Account ID: 460906
Purchase Price and various other disclosures.
Encumbrance Any claim, right, lien, policy loan, or restriction. In addition, this includes
any limits on rights of ownership (such as the use, voting, transfer, receipt
of income, etc.).
Funding Date The date We pay You the Net Purchase Price.
Issuer The insurance company that issued the Annuity Policy.
Obligor The Person who is obligated to make payments to You under the Settlement
Agreement.
Party One of You or Us. Parties means both You and Us.
Person Any natural person or legal entity.
Purchased Payments Only those certain payments that We are purchasing from You under this
Contract.
Purchase Price:
Gross Purchase Price The amount shown as the “gross amount payable to seller (You)”
in Section 10 of this Contract. This is the sum We have agreed to
pay You before any deductions as set forth in the Contract Documents
Net Purchase Price The amount shown as the “net amount paid to seller (You)” in Section
10 of this Contract. This is the sum We have agreed to pay
You after any deductions as set forth in the Contract Documents.
Settlement Agreement The agreement that You and the Obligor signed to resolve Your personal
injury claim.
Settlement Payments All of the payments that the Obligor has agreed to make to You in the
Settlement Agreement.
We, Our, or Us J.G. Wentworth Originations, LLC, along with any of its
successors, assigns, and designees. Some of the Contract Documents or
Closing Documents may refer to Us as the purchaser.
You or Your The Person named on this Contract’s first page. Some of the Contract
Documents or Closing Documents may refer to You as the seller.
You and We agree as follows:
1 SALE OF THE PURCHASED PAYMENTS
A Upon the signing of this Contract and subject to certain conditions including Court Approval,
You sell, transfer and assign to Us the rightto receive the Purchased Payments specifically
I
2G Wom He
DocuSign Envelope ID: 2F502242-7585-4505-A0A8-E3521B8B044B
Account ID: 460906
identified in the Disclosure Statement.
We will pay You the Net Purchase Price as agreed to in the Contract Documents, subject to certain
conditions, including meeting Our underwriting requirements, Court Approval and satisfactory
completion of the Closing Documents. We will do this in exchange for You:
° selling the Purchased Payments to Us;
changing the beneficiary of the Annuity Policy to Your estate and not changing it again
until We have been paid all of the Purchased Payments;
having any current beneficiaries waive their rights to the Purchased Payments; and
. fulfilling Your promises under this Contract.
If We are buying only a portion of Your payments, this will have no effect upon Your rights in
the unsold portion. You will continue to receive the unsold portion unless You have already
sold or encumbered that portion. However, sometimes the Issuer, the Obligor or the court may
require Us to receive the entire amount of Your payment. If so, We will then forward the
portion of the payment still due to You and You hereby agree to this payment servicing
arrangement.
2. PURCHASE PRICE
A The Gross and Net Purchase Prices are shown in Section 10 of this Contract and are fair and
acceptable to You and Us.
We will pay You the Net Purchase Price in the manner You designate for Us in exchange for the
following payments (Purchased Payments):
A) 60 monthly payments of $509.10 each, beginning on September 21, 2028 and ending on August
21, 2033
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
DocuSign Envelope ID: 2F502242-7585-4505-A0A8-E3521B8B044B
Account ID: 460906
Cc Before we pay You, You agree that We will adjust for the following amounts, if applicable:
° Purchased Payments Owed to Us — The Issuer may have already paid You some of the
Purchased Payments before We have paid You for them. If that happens, We will
deduct the amount of those Purchased Payments.
Holdbacks — Due to possible delays in the Issuer beginning to make the Purchased
Payments to Us instead of You, We will hold back an amount equal to any Purchased
Payments that the Issuer owes Us post Court Approval, that are due within 90 days of
the Funding Date. If We subsequently receive those particular Purchased Payments
directly, We will return the amount of any related holdback to You.
Payment of Debts Owed — If You owe any past due child support, bankruptcy payoffs
or taxes, or have any judgments or liens against You or Your assets, We may pay those
amounts and deduct them from the amount We pay You and You hereby provide Us
with specific authority to take such action. We will provide You with notice of the
amounts that We are going to pay, prior to actual payment.
If any Purchased Payments are mistakenly sent to You after We have paid You for them, You will
immediately contact Us. If We then determine that any deductions or holdbacks as set forth above
are not enough to reimburse Us, We will advise You of the amount You owe Us. You agree to
immediately send that amount to Us by bank or certified check.
3. YOUR REPRESENTATIONS AND WARRANTIES
You represent and warrant to Us the following:
A You understand that THIS IS A SALE AND NOT A LOAN.
B The Annuity Policy is in full force, You are the sole and undisputed recipient of the right to the
Purchased Payments, have the right to sell them, free and clear of any Encumbrances, and have not
previously sold any of the Purchased Payments to any other Person.
You understand that Court Approval is required for this purchase; and You agree to fully
cooperate with Us to obtain that approval.
You gave Us all requested information and signed all documents necessary to complete the
purchase. Every statement made by You in the Contract Documents and Closing Documents is
true and complete.
No law, divorce decree or other legal obstacle:
requires You to keep the Purchased Payments for the benefit of a current or former spouse,
dependent children, or other Person; or
legally prevents You from contracting with Us, selling the Purchased Payments or changing
the Annuity Policy’s beneficiary.
DocuSign Envelope ID: 2F502242-7585-4505-A0A8-E3521B8B044B
Account JD: 460906
F Either:
° You have never filed for bankruptcy, will not do so before the Funding Date and there are no
lawsuits or efforts by any of Your creditors to put You into bankruptcy or take any of the
Purchased Payments; or
If You filed for bankruptcy, the Purchased Payments were not subject to the claims of Your
creditors. You will give Us a copy of any of Your bankruptcy documents that We request
including evidence of a final bankruptcy payoffor case closing, if any.
We can rely on Your representations, warranties, and promises in this Contract. These
representations, warranties, and promises are for Our benefit and the benefit of any future owners of
the Purchased Payments. You understand that Our reliance on any intentional misrepresentation by
You may result in Our enforcing Our rights against You in court.
You had enough time to consider the sale of the Purchased Payments, understand the terms of the
Contract Documents and Closing Documents, are of legal contracting age and sound mind, not under
the influence of drugs or alcohol, and freely and voluntarily, enter into this Contract and agree to all
of its terms.
You were advised by Us to obtain independent professional advice regarding any federal and state
income tax consequences arising from the proposed transfer and We may not refer You to any
specific advisor for that purpose.
We did not provide tax, financial, or legal advice to You about this Contract and advised you that
We may not refer You to any specific attorney for such purpose.
If You are married, Your spouse understands all of the terms and conditions of this Contract
including, but not limited to the fact that after the Funding Date, You (and Your spouse) will not
receive the same amount of money on the same payment schedule as You would have received
under the Annuity Policy. Your spouse has been provided with all information relating to the
transaction and has had every opportunity to review the terms of the transaction and to seek any
advice relating thereto. Your Spouse also understands that he or she will be giving up any property
or contract rights that he or she may have in the Purchased Payments.
We may sell, transfer, or assign Our right to the Purchased Payments in a sale, securitization, or
other financing transaction (resale). Any resale would involve disclosing certain information about
You (including Your personal information) to the parties to a resale.
Any future owner of the right to the Purchased Payments will have all of the same rights We have,
including the right to the duties You owe Us under this Contract. This includes the right to make a
claim against You for violating any of the representations, warranties, or promises You made in
this Contract.
You acknowledge and understand that this transaction does not create a cause of action on Your
part against the Issuer (or other payor) funding the Purchased Payments.
4. YOUR PROMISES TO US
DocuSign Envelope ID: 2F502242-7585-4505-A0A8-E3521B8B044B
Account ID: 460906
Before and after the Funding Date:
A You will tell us right away if Your address or telephone number changes and do
everything necessary, including completing and signing all Documents to:
e sell the right to the Purchased Payments to Us;
e change the beneficiary as required by this Contract; and
© correct any documentation errors in the Contract Documents or Closing Documents
B. You will also tell Us if any of the following occurs:
e a violation of this Contract; or
anything that could negatively affect the Annuity Policy, the Purchased Payments,
or this Contract.
€. You will not:
° agree to sell the Purchased Payments to any Person other than Us;
. change the Annuity Policy’s beneficiary to any Person other than Your estate until we have
collected all of the Purchased Payments; or
° withdraw cash from, borrow against, or change the Annuity Policy.
You will give Us information necessary to update Your representations, warranties, and promises
in this Contract. You will also update any documents and information so they will be true and
complete on the Funding Date.
We are now, and will continue in the future, to rely on the representations and warranties You have
given Us. We will confirm the accuracy of Your representations and warranties. You must cooperate
with this confirmation and provide complete access to any information We believe necessary.
You agree that updating representations, warranties, promises, documents and other information
will not cure a breach of any representation or warranty made by You that was not true and complete
You agree that Our obligation to You under this Contract is strictly limited to the requirement to pay
You what We owe You under the terms of this Contract, after receipt and approval of the Closing
Documents, final underwriting approval and Court Approval. Under no circumstances will We be
liable for any consequential damages.
DocuSign Envelope ID: 2F502242-7585-4505-A0A8-E3521B8B044B
Account ID: 460906
You hereby appoint Us and any of Our designees,