STIPULATION AND ORDER TO REOPEN CASE AND AMEND COURT ORDER RE SETTLEMENT

JOHN A. MENDEZ, District Judge.

Plaintiff V. WILLIAMS and Defendant TWIN RIVERS UNIFIED SCHOOL DISTRICT hereby submit the following Stipulation and Proposed Orders to reopen the case and amend the court order regarding Settlement:

WHEREAS, in August 2019, the parties reached a settlement in this matter in the amount of $100,000.00;

WHEREAS, as one aspect of the settlement, Plaintiff received a quote for a structured settlement payment through the Arcadia Settlement Groups;

WHEREAS, on or about September 19, 2019, Plaintiff filed a petition for approval of the settlement, including the structured settlement plan through the Arcadia Settlement Groups;

WHEREAS, on or about October 25, 2019, the court approved the settlement, including the following distribution:

WHEREAS, thereafter the court dismissed the matter and the parties provided the order to the Arcadia Settlement Groups to begin the process of purchasing the structured settlement and funding the remainder of the settlement;

WHEREAS, the proposed quote received by the parties had expired and obtaining a new quote became necessary and the parties were able to obtain a new quote, through the Arcadia Settlement Groups, from MetLife Assignment Company, Inc;

WHEREAS, the language in the previous settlement agreement and court order is insufficient for MetLife and they are insisting on an amendment to the court order before proceeding with the purchase of the structured settlement;

WHEREAS, MetLife requires that the court order specifically set forth an assignment to them and the exact amounts of the periodic payments they are to make;

WHEREAS, this stipulation and proposed order makes no changes to the amount of the settlement, the attorney's fees, costs or payment to the Guardian ad Litem. Furthermore, the amount being paid for the structured settlement has not changed, only the amount of the distribution (due to the change in interest rates) and the company through which it is being purchased;

WHEREAS, to effectuate the settlement and to avoid frustration of the court's previous order, the parties must seek to amend the court's previous order to provide for the exact amount of the payments to F.T. and the assignment of the obligation to make the periodic payments to MetLife Assignment Company, Inc.; and

WHEREAS, to obtain the required court order, the parties must reopen this matter that was previously dismissed by the court.

ORDER

Pursuant to the parties' stipulation, IT IS ORDERED THAT:

This case is reopened for the limited purpose of amending the court's minute order regarding settlement issued on October 25, 2019 [Docket No. 60].

The settlement approved by the court on October 25, 2019, is not materially changed by this order, but the amounts of the distribution are specifically set forth as follow:

The obligation to make the periodic payments described above may be assigned to MetLife Assignment Company, Inc. and funded by an annuity contract issued by Metropolitan Life Insurance Company, rated A+XV by A.M. Best Company, and AA- by Standard and Poor's.

IT IS SO ORDERED.