On May 21, 2014, the United States District Court for... Order Clarifying Order Appointing Receiver, Freezing Assets, and Other Relief... PROMISSORY NOTE SELL DIRECTION LETTER

Transcription

On May 21, 2014, the United States District Court for... Order Clarifying Order Appointing Receiver, Freezing Assets, and Other Relief... PROMISSORY NOTE SELL DIRECTION LETTER
PROMISSORY NOTE SELL DIRECTION LETTER
COVER SHEET
On May 21, 2014, the United States District Court for the District of Utah entered an
Order Clarifying Order Appointing Receiver, Freezing Assets, and Other Relief ("Clarifying Order")
in Case No. 2014-cv-00309. Pursuant to the Clarifying Order, I am making a formal request that
the Court-Appointed Receiver authorize certain transactions as evidenced by the attached
Sell Direction Letter and related documents.
By submitting this Sell Direction Letter and signing below, I hereby acknowledge that all proceeds
from the requested sales transaction shall continue to remain subject to the terms of the Court’s
Order Appointing Receiver, Freezing Assets, and Other Relief (“Receivership Order”). I also
understand that any future requested transactions may not be approved unless I maintain or
reach a ratio of 20% cash to asset value following any reinvestments. I further acknowledge and
agree that I may be required to liquidate some of my other self-directed investments to generate
cash in the future if a Court approved Plan of Liquidation is implemented.
Signed this ____ day of ___________, 2014.
Account Name(s):
____________________________________________
Account Number(s):
____________________________________________
Signature:
____________________________________________
Address:
____________________________________________
____________________________________________
Phone Number(s):
____________________________________________
E-mail(s):
____________________________________________
Please send this cover sheet, the attached Sell Direction Letter, and all other required documents
to Diane Thompson, the Court-Appointed Receiver for American Pension Services, Inc. either via
email at [email protected], via facsimile at (801) 208-7302, or via postal mail at
4168 W. 12600 S., Suite 300, Riverton, Utah 84096.
Rev. 06.19.2014
Promissory Note /
Promissory
Note
Sell Direction Letter
Page 2 of 2
Sell
Direction Letter
1. Account Owner Information :
Account Owner Name:
Account Number (4 or 5 digit):
Mailing Address:
City:
Phone:
Fax:
State:
Zip Code:
Email:
2. Purchaser’s Information :
Purchaser’s Name:
Mailing Address:
City:
Phone:
Fax:
State:
Zip Code:
Email:
3. Promissory Note Being Sold:
Face Value of Note:
Plan Ownership Percentage:
$____________________________________
__________________________________%
Has This Note Been Discounted?
If Yes, Why?

YES

NO
Payment Frequency:

Monthly

Quarterly

Annually

Other
Payment Type:

Interest

Amortized
Date of First Payment Due:
Maturity Date:
Interest Rate:
______________%
Note Amount:
Number of Payments:
Payment Amount:
$_____________
$_______________________
This Note is Secured By:

Company
Company Name:

Real Property
Address:

Vehicle/ Mobile Home
VIN (Identification Number):

Other
Describe:
Company Address:
City:
State/Zip:
City:
State/Zip:
4. Sale Price:
The promissory note is being sold for $___________________________________________.
The purchase price will be sent to APS via  Cashier’s Check  Wire. APS will not authorize this transaction until after the
funds identified above are received and cleared, or the funds are placed in escrow. If you plan to use an escrow agent, please
complete the section below.

I acknowledge that all proceeds from this sale shall remain subject to the terms of initials the Court’s Order Appointing
Receiver, Freezing Assets, and Other Relief dated April 24, 2014 and the Court’s Clarifying Order dated May 21, 2014.
Rev. 06.19.2014
Promissory Note /
Sell Direction Letter
Page 2 of 2
5. Required Documentation:

The following documents must be provided with this sell direction letter:
 Sale/purchase agreement

and
 Assignment of promissory note
I acknowledge that I am wholly responsible for preparing these documents and that APS will not authorize this sale unless they
are provided to APS. I further acknowledge that I APS takes no responsibility for recording any documents and that I am fully
responsible for recording all documents relating to this transaction, including but not limited to any assignments.
6. Who Is Handling The Closing?
Escrow Agent / Attorney / Title Company:
Contact Name:
Fax Number:
Contact Email:
Contact Phone Number:
I have read and approved all documents, and I agree with the terms. I understand that my account is self-directed and that American Pension
Services, Inc., or any of its licensees, affiliates, or employees (collectively, “Administrator) and/or trustee or custodian does not review the
merits, appropriateness and/or suitability of any investment in general, or in connection with my account in particular. I acknowledge that I
have not requested the Administrator provide, and that the Administrator has not provided, any advice with respect to the investment directive
set forth in this Sell Direction Letter, nor has the Administrator made any representations or recommendations or other statements regarding
the parties with whom I now or in the future may be dealing. I understand that neither the Administrator nor trustee or custodian determine
whether this investment is acceptable under the Employee Retirement Income Securities Act of 1974, as amended (“ERISA”), the Internal
Revenue Code of 1986, as amended (the “Code”), or any other applicable federal, state, or local laws, including but not limited to securities
laws. I understand that it is my responsibility to review any investments to ensure compliance with these requirements.
I understand that no one at the Administrator has authority to agree to anything different than the above policy.
I understand that neither the Administrator nor trustee or custodian is a “fiduciary” for my account as such term is defined in the Code,
ERISA, or any applicable federal, state or local laws. I agree to release, indemnify, defend and hold the Administrator and trustee or custodian
harmless from any claims arising out of this investment, including, but not limited to claims, demands, or causes of actions that an investment
is not prudent, proper, diversified or otherwise in compliance with ERISA, the Code or any other applicable federal, state or local laws.
I also understand and agree that the Administrator and/or trustee or custodian will not investigate, analyze, monitor, verify title to or otherwise
evaluate any investment contemplated herein, or to obtain or maintain insurance coverage (whether liability, property or otherwise) with
respect to any assets or investments sold or purchased by me. The Administrator shall not be responsible to take any action should there be
any default with regard to this investment. Such obligation to release, indemnify, defend and hold the Administrator and trustee and/or
custodian harmless shall include but not be limited to necessary court costs, attorneys’ fees, or other expenses incurred to Administrator. I
alone am responsible for the selection, due diligence, management, review and retention of all investments in my account.
I am directing you as Administrator, in a passive capacity, to complete this transaction as specified above. I confirm that the decision to sell
this asset is in accordance with the rules of my account and applicable law and I agree to hold harmless and without liability the Administrator
and/or the trustee or custodian of my account. I have reviewed this transaction with my tax and legal advisors, and it does not constitute a
Prohibited Transaction (as defined in section 4975 of the Code).
IMPORTANT: PURSUANT TO THE COURT’S ORDER CLARIFYING ORDER APPOINTING RECEIVER, FREEZING ASSETS, AND OTHER RELIEF
DATED MAY 21, 2014, BY SUBMITTING THIS SELL DIRECTION LETTER AND SIGNING BELOW, I HEREBY AGREE THAT ALL PROCEEDS FROM
THE REQUESTED TRANSACTION SHALL CONTINUE TO REMAIN FROZEN SUBJECT TO THE TERMS OF THE COURT’S ORDER APPOINTING
RECEIVER, FREEZING ASSETS, AND OTHER RELIEF (“RECEIVERSHIP ORDER”).
I declare that I have examined this document, including accompanying information, and to the best of my knowledge and belief, it is true,
correct, and complete.
X Account Owner Signature: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __
By signing I certify that I have read the disclaimer above.
Rev. 06.19.2014
Date:_ _ _ _ _ _ __ _ _