My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
CORTEZ, MELISSA, A MINOR, BY AND THROUGH HER PARENT AND LEGAL GUARDIAN, ARTURO CORTEZ
Clerk
>
Contracts / Agreements
>
C
>
CORTEZ, MELISSA, A MINOR, BY AND THROUGH HER PARENT AND LEGAL GUARDIAN, ARTURO CORTEZ
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/12/2015 11:20:28 AM
Creation date
10/12/2015 11:15:52 AM
Metadata
Fields
Template:
Contracts
Company Name
CORTEZ, MELISSA, A MINOR, BY AND THROUGH HER PARENT AND LEGAL GUARDIAN, ARTURO CORTEZ
Contract #
A-2015-132
Agency
City Attorney's Office
Council Approval Date
7/7/2015
Destruction Year
0
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
14
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
$70,923 guaranteed lump sum payable at age 30 (on September 20, 2034). <br />All sums set forth herein constitute damages on account of personal injuries or <br />sickness, within the meaning of Section 104(x)(2) of the Internal Revenue Code of 1986, <br />as amended. <br />2.3 Payee's Rights to Payments <br />Payee acknowledges that the Periodic Payments cannot be accelerated, deferred, <br />increased or decreased by Payee or any payee; nor shall Payee or any payee have the power to <br />sell, mortgage, encumber, or anticipate the Periodic Payments, or any part thereof, by assignment <br />or otherwise. <br />2.4 Payee's Beneficiary <br />Any payments to be made after the death of the Payee pursuant to the terms of this <br />Settlement Agreement and Release shall be made to the Estate of the Payee. After the age of <br />majority, Payee may submit a change of beneficiary in writing to the Assignee. The designation <br />must be in a form acceptable to the Assignee. <br />2.5 Consent to Qualified Assignment <br />(a) Payee acknowledges and agrees that the Payors may make a "qualified <br />assignment ", within the meaning of Section 130(c) of the Internal Revenue Code of 1986, as <br />amended, of the Payors' liability to make the Periodic Payments set forth in Section 2.2(b) to <br />Prudential Assigned Settlement Services Corp. ( "the Assignee "). The Assignee's obligation for <br />payment of the Periodic Payments shall be no greater than that of Payors (whether by judgment <br />or agreement) immediately preceding the assignment of the Periodic Payments obligation. <br />(b) Any such assignment, if made, shall be accepted by the Payee without right of <br />rejection and shall completely release and discharge the Payors from the Periodic Payments <br />obligation assigned to the Assignee. Payee recognizes that, in the event of such an assignment, <br />the Assignee shall be the sole obligor with respect to the Periodic Payments obligation, and <br />Payee agrees that such assignment shall constitute a full release and discharge of all of Payors' <br />obligations relative to the Periodic Payments set forth above. <br />2.6 Right to Purchase an Annuity <br />Payors, themselves or through Prudential Assigned Settlement Services Corp. ( "the <br />Assignee "), reserve the right to fund the liability to make the Periodic Payments in Section 2.2(b) <br />through the purchase of an annuity policy from Prudential Insurance Company of America. The <br />Assignee shall be the sole owner of the annuity policy and shall have all rights of ownership. <br />The Assignee may have Prudential Insurance Company of America mail payments directly to the <br />Payee. The Payee shall be responsible for maintaining a current mailing address for Payee with <br />Prudential Assigned Settlement Services Corp. <br />[41 <br />
The URL can be used to link to this page
Your browser does not support the video tag.