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NUNLEY, TIFFANY, A GUARDIAN AD LITEM FOR PLAINTIFF HAILLEY HALLSTROM
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NUNLEY, TIFFANY, A GUARDIAN AD LITEM FOR PLAINTIFF HAILLEY HALLSTROM
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Last modified
3/31/2017 12:46:28 PM
Creation date
5/31/2016 9:49:34 AM
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Contracts
Company Name
NUNLEY, TIFFANY, A GUARDIAN AD LITEM FOR PLAINTIFF HAILLEY HALLSTROM
Contract #
A-2015-305
Agency
City Attorney's Office
Council Approval Date
12/1/2015
Destruction Year
0
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APR -5 -2016 02:22P FROM:NUNI.EY BUSINESS 7148843846 70:15626241178 P.3 <br />$2,500.00 Payable monthly for 11 years, all guaranteed, beginning April 22, 2021, <br />with the final guaranteed payment on March 22, 2032; <br />$75,000.00 Guaranteed lump sum, payable April 22, 2021; <br />$25,000.00 Payable semi - annually for five years, all guaranteed, beginning August 1, <br />2021, with a final guaranteed payment on February 1, 2026; <br />$75,000,00 Guaranteed lump sum, payable August 1, 2026; <br />$217,096.41 Guaranteed lump sum, payable April 22, 2032. <br />The periodic payment obligation set forth above will be funded with the present value of <br />$821,495.00 in a check made payable to Mutual of Omaha Structured Settlement Company. <br />The Parties agree that the Defendant may make a qualified assignment as defined in <br />section 130(c) of the Internal Revenue Code to Mutual of Omaha Structured Settlement <br />Company (MOSSCO) (the "Assignee ") of the Defendant's liability to make the periodic <br />payments set forth in section 2.2. Any such assignment, if made, shall be accepted by either <br />Plaintiff without right of rejection and shall completely release and discharge the Defendant from <br />the liability that is assigned to the Assignee. Plaintiff recognizes that, in the event of such an <br />assignment, the Assignee shall be the sole obligor with respect to the liability assigned, and that <br />all other releases of the Defendant shall thereupon become final, irrevocable and absolute. <br />If the liability to make the periodic payments is assigned, then Plaintiff understands and <br />agrees that (i) the periodic payments set forth in section 2.2 cannot be accelerated, deferred, <br />increased or decreased by the recipient of such payments, (il) the Assignee's obligation on <br />account of the periodic payments set forth in section 2.2 is no greater than the obligation of the <br />Defendant or insurer of the Defendant that are assigning the liability, and (iii) the rights of <br />Plaintiff against the Assignee are solely the rights of a secured creditor of the Assignee. The <br />Defendant and /or the Assignee shall not segregate or set aside any assets to fund the periodic <br />payments set forth in section 2.2. Execution by the Parties of the assignment will absolutely and <br />completely discharge Defendant from any further payment obligation. If the Assignee, and/or <br />Annuity Issuer of the contract purchased by Assignee to make the payment obligation specified <br />in section 2.2, fails to make payments or becomes insolvent or bankrupt, the sole remedy of <br />Plaintiff or her beneficiary, heirs or representatives to enforce payment obligations assigned shall <br />he against Assignee, guarantor and/or responsible party other than Defendant. Defendant will <br />have no further obligations upon payment to the designated Assignee and/or Annuity Issuer. <br />F section 2,2 of this agreement by purchasing an annuity policy from United of Omaha Life <br />Insurance Company (the "Annuity Issuer "). The Assignee shall be the owner of any such <br />annuity policy. Neither the Plaintiff nor any payee set forth in this agreement shall have any <br />incidents of ownership of that annuity. The Assignee may, for its convenience, direct the annuity <br />issuer to mail periodic payments directly to the Plaintiff. While the periodic payments are being <br />made, the Plaintiff shall provide to and maintain for the Assignee a, current mailing address. <br />31Pag4 <br />
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