TERMS
AND CONDITIONS FOR ASSIGNMENT OF JUDGMENT
I. For valuable consideration as provided herein, Mary Jane,
judgment creditor in the below mentioned Court judgment
(hereinafter CREDITOR), hereby conveys, transfers and
assigns to Pathfinders USA (hereinafter ASSIGNEE), all
right, title and interest in the moneys due or that may
become due from the money judgment issued by the Superior
Court of California, Los Angeles County, Case # CV-04-1765,
in the amount of $6,550.00, on 6/15/204 hereinafter
JUDGMENT), and/or from Rodney Badman, the indebted party
(s), (hereinafter DEBTOR) for a period of one year (except
as noted in section (2) of paragraph III).
II. The undersigned CREDITOR warrants and agrees that:
(1) The amount set forth in the JUDGMENT is in fact, due and
owing.
(2) The CREDITOR will have and have no further contact with
the DEBTOR or make any attempt to collect moneys due from
the JUDGMENT and/or DEBTOR.
(3) Any contact made by the DEBTOR with the CREDITOR will be
refused by the CREDITOR and the ASSIGNEE notified via mail
or email of said contact. Any documents or communiqués
received by the CREDITOR relating to the JUDGMENT or DEBTOR
shall be immediately forwarded to the ASSIGNEE.
(4) Should the CREDITOR breach this AGREEMENT by accepting
any payment from the JUDGMENT or the DEBTOR intended as
settlement or satisfaction of the JUDGMENT, the ASSIGNEE
shall immediately be due 50% of the JUDGMENT amount plus all
the ASSIGNEE'S costs, expenses and accrued interest. The
DEBTOR will be notified by the ASSIGNEE that payment to the
CREDITOR will not constitute Satisfaction of their JUDGMENT
and that the balance will remain due and owing.
(5) 1 1/2 % interest per month will accrue on any balance
due to the ASSIGNEE, plus all costs, expenses and attorney
fees necessary to collect any balance due from the CREDITOR,
from the date payment was made by the DEBTOR to the
CREDITOR.
(6) Should the CREDITOR assign a JUDGMENT that is not due
and owing, CREDITOR will pay ASSIGNEE's costs, expenses,
attorney fees and for it's time spent in pursuit of said
JUDGMENT.
(7) The venue for any legal dispute between the CREDITOR and
ASSIGNEE shall be the Small Claims, Justice or District
Courts in Clark County Nevada, City of Las Vegas.
III. In exchange for the conveyance, transfer and assignment
of the JUDGMENT, the CREDITOR and ASSIGNEE agree that:
(1) The ASSIGNEE (us) shall pay the CREDITOR (you):
a. 75 % of any moneys collected from the JUDGMENT or DEBTOR
within 60 days of the date this ASSIGNMENT was signed by the
CREDITOR.
b. 65 % of any moneys collected from the JUDGMENT or DEBTOR
between 61 and 150 days of the date this ASSIGNMENT was
signed by the CREDITOR.
c. 50% of any moneys collected from the JUDGMENT or DEBTOR
when the collection efforts exceeds 150 days from the date
this ASSIGNMENT was signed by the CREDITOR.
d. 50% of any moneys collected from the JUDGMENT or DEBTOR
less all ASSIGNEE'S costs, expenses and legal fees when any
of the following conditions occur:
1. DEBTOR files for Bankruptcy protection.
2. DEBTOR resides or has assets outside the original Court
jurisdiction.
3. Any legal challenge to the JUDGMENT arises.
4. Any inaccuracies or defects in the JUDGMENT need to be
corrected, if feasible.
5. Calendaring of any Motion and/or Appearance in Court by
ASSIGNEE.
6. Any interference or action by the CREDITOR or lack of
notice of receipt of any legal filing by or on behalf of the
DEBTOR received by the CREDITOR that causes the ASSIGNEE to
settle for less than full value.
7. CREDITOR violates any provision of this AGREEMENT.
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TERMS AND CONDITIONS
FOR ASSIGNMENT OF JUDGMENT CONTINUED
(2) The ASSIGNEE shall retain all right, title and interest
in the JUDGMENT while any collection actions (ie: levy or
garnishment, etc.) are in process or while the ASSIGNEE has
any unsatisfied personal, business, or real property liens
against the DEBTOR in place.
(3) The CREDITOR must notify the ASSIGNEE by email prior to
the expiration of the one year term of the AGREEMENT, that
the CREDITOR wishes to terminate this AGREEMENT (termination
is excepted by paragraph (2) above). If no notice is
received and acknowledged by ASSIGNEE, this AGREEMENT shall
be extended in one year increments. The ASSIGNEE will
acknowledge receipt of any termination request received from
the CREDITOR via email.
(4) CREDITOR may request termination of this AGREEMENT after
90 days if ASSIGNEE cannot demonstrate that it has used any
commercially accepted practices any steps to locate the
DEBTOR and effect collection of the JUDGMENT. ASSIGNEE may
terminate this agreement at any time based on it's business
assessment and at it's sole discretion.
(5) The CREDITOR is responsible to email any changes in it's
address and/or telephone numbers to the ASSIGNEE as they
occur. The ASSIGNEE will acknowledge receipt of said changes
from the CREDITOR via email. Failure to do so will result in
the forfeiture to the ASSIGNEE of any recovery monies we may
be holding from the JUDGMENT after 60 days of no contact, at
the discretion of the ASSIGNEE.
(6) The ASSIGNEE has the authority to settle or compromise
settlement of the JUDGMENT for less than the full value
based on it's business assessment and is indemnified against
any claim or action by the CREDITOR for said settlement or
compromise.
(7) The ASSIGNEE shall use commercially accepted practices
to locate the DEBTOR and their assets and collect the
JUDGMENT.
(8) The ASSIGNEE will keep the CREDITOR informed, using
commercially accepted practices, of any substantial progress
of their enforcement case via either telephone, Fax or
email.
IV. In the event that any Legal challenge is raised against
the JUDGMENT, it may become necessary to retain an attorney
to defend the JUDGMENT. This would include but not be
limited to such actions as the DEBTOR declaring Bankruptcy,
filing a Motion to Vacate the JUDGMENT, a Motion to Quash
Service, a Claim of improper Venue, claiming incorrect
DEBTOR or DEBTOR name and others. The ASSIGNEE, using it's
best business assessment, is not obligated to retain an
Attorney in order to protect or defend the JUDGMENT. The
CREDITOR will be apprised of any legal challenge and
provided with the corresponding pleadings and/or Motions.
The CREDITOR may choose to seek counsel with and/or retain
an Attorney on behalf of the ASSIGNEE in order to protect or
defend their JUDGMENT. Without having legal representation
it is possible for the JUDGMENT to be Vacated, Dismissed or
Discharged to Bankruptcy.
V. This document (aforementioned and hereinafter AGREEMENT)
is the AGREEMENT in its entirety and is in effect upon
signing by the CREDITOR and ASSIGNEE. There are no other
expressed, implied or oral terms, conditions or guarantees
made, that are not contained within this AGREEMENT. Any
modifications to the AGREEMENT shall be in writing and
signed by CREDITOR and ASSIGNEE. If any part of this
AGREEMENT is found to be invalid, it shall not invalidate
any other part of this AGREEMENT. CREDITOR hereby withdraws
all right, title and claim to the JUDGMENT
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