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HomeMy WebLinkAbout96-04275 . PROMISSORY NOTE . I~" (l~ '1~)'II~) \. \ ~ "II r no. p l. LO. In Olt, . ur tv Loin No TCililconllerarr AaaoUri\~ 0'1 air flniii:J11 J'II,99tM)().. 12-1&-1884 12-1&-1888 llOO~14"()41 I liOO3838 JWM n.t..unc"lnlhu IlhlUJod 81UII 8lU lei tUIlt.1Ul'lllJ5~'!!!'!!y' BIlII 1.10 1\~llunlllhu uppllcllblllly 011111& dOClJlIlDl1llo.!!!i'jJllIllclJlnr Inllll O/IIl,,1l Borrowen Mllllnnl R, Fldlll, 111., allllA A...111 TfIllP' (TINI Lunden I'CNNSYLVANIA STATE flANK 21-171111I01 al4. MARKElSlRCEl ~~44 rr'ndl. Road I', 0, 1l0K 411 clmp 1l11I, PA 17011 CAMi'ltlLL, I'A 1100'~411 l====:;;::;:~:'.-.;;;;;;;;::;~.-;='':;.~= ~;';:"";;::'.~;_.;:. :_~"'/..:...~.:..__c.~ . ",.. - ...- ..........,.. ., ,_. --.---.-......--.-....--...---..-.---------.., ._._~___._.._ _____._~_.. _.~.. .____ ____.___....__.___.n. .,._...0__.,._._. Prlnolpll Amountl $10,000,00 Inlerul Rllel 8,950% Dole 01 Nolel Oucember 16, 1994 PROMISE TO PAY, MIII.nl1. R, Fldll', In., Olll/A A...111 T"IIII'" ("Borrowl,"1 r,om,.u 10 I'.Y 10 PENNSVLVANIA STATE BANK ("LII1OI1 "1,0' old." 111 lowlol monlY 01 Ihl UAllld SI.III 01 Aml".I, Ihl pllnc'p.' .mool1 0' Ten TI,ooul1d & 00/100 DolI.,s (11~,OOO.OOI, loglll'" willi lillI/III allh. III. 01..8&0'110 PI' .Anom ol1lhl ul1pa'd p,II1.IIII' bl'"11.1 ',om al..mblr Ie, IV94, 01111I p.'O IA '011, PAYMENT, Borrllwe, will P.Y Ih'" lo.n In 24 p.ym'I1I' 01 '4&U~ 11,11 11.ymll1!, Borrowl/'. 11,.1 p.ymlnlls dUI J.no.,y la, ItVG, Ind .11 .obllqu.111 p.ymlnll .," dOl onlhl Mml dlY 01 II.h monlh .f1I, Ihl!, Borrowl'" f1nll/,"ymll1l will b. du. 011 al..mblr U, 188&, Il1d wll' bl lor all p,'ndp,'"nd all a..,old 11111'1111101 y"1 Plld, I'.ymIAI.'I1.'odl PIII1.'p" .nd 'n ,,"I, 11110"'" all III" Nolo" compulo,) 011/1 365/36b 6lmplQ ulhulJfll h0611i; Iho116, tJY npplyulU thu 10110 011110 Bllllunlu,luru61 rnlo 0\101 Iho IlUrlIlJUI 01 dn)'5 III 0 )'0111, Il1lJlllplmd I))' Iho 0lll611111dll1U P'1l1(II1I11 hnIUIlCQ, 1IllJlllflllOd Ily Ihu lIc:1uul nlJllllJW of 1I0)'6Iho prlnclplll blllllllcn 16 fllJlt'llllllllll1U IlorroVlU! Will plly 1.0111101 nll.undl)r'li IIdc1rOMi 61l0WIl nlJo\o (lr 111 Iiw;h nth.H plllclJ Uti I Ollill!! /11l1y d'U,'IJI11111l1l1 '11/,111111 l}nlUH cIl1iJI0IIIHlIlU'PIII) 1~1 IlllJIJlrHI11:~' lIFIIIl'nL1n iiI..... Plljll'lllll!- '>'Iilll)!! lIPplil'l1 1<101 II) 11l:r:lljll(! W1IJllld InluWIi!. OHln II) plll1C1plll, Ulllllll1~' lI}lllllllllfl\J IIlllo,,111 It) u"y Ullp4lIlll"l)llll(111J11 1L)~tr, 111111 11Itll IhU1tll!!. fJREP^VMENT, Ill:lltlwo/ flllIY Puy Wllht]IJI PUll/Illy II!! 1)/ II pCIIIl,;1l011111J ntlll;ljl1ll)Vll/i! UlIIIIIl! !lInn III!, lIllll blrly l.'lI)'lllunlti '>'.111 Ill!, IJI1IU~ti lI\jII.HHl 10 Ily l.undUI III WlllltlU./oIIOVlJ I h,fIUWI1/ IJllhlUI)Wor'b clJlIunlll)!l II) (1)1111/'1/1) II) ll1ulot' P/I)IllIJIlIt. llIHlur Om puY"1t!nl bclllHHJlu 1IIIIhl1/, limy 0'.111 rl1(llJCU Ihu /JIII1CI/Jull)/I(lIIlCIJ (lUrI Ilnd IllllY ,milJII mlklll}wlII 1I1111<111U "/VIUI PII)'IllI111Ib I.ATE CHARGE. IIII pllynllwllli n dnya lJt 1I10tllall, Ih')II11VlOI VIlli 1:0 1:11/1101/(1 &.000-" olll1e 'ltouUllly lSeheduled pnYll1el11 ot 16,00, whlcheyer Is griller . OEJ:AULT, I)OI/OWOI will 1)0 III IlolUlJlIII IIlly 011110 lolloWIII\! hllppunti III) Ilolr()\\uI Inllb 10 flllll<u /llly PllYll1ul,1 whon <JIJIf. Ib) BOfluwor blOlIl<b IIl\y prorllll:.o BotlOWUI Illlti IlHllJU 10 I. UlldlJl , 0/ HOllowur 1/111610 podol III plumpll)' nllhu IlfIlU Bt1IJ 611lf;lly III Iho mllnrlQl plov/dud III 111111 Nolo 0/ an)' uUrulJlI1ullllollllod 10 Ihlli NaIll. Qlllllln)' olhl!/lI(JroulIlunl 0/10111' UOIIOWlJ/ !l1l5 wllh I.lJl1lllJl, (('J UOllower dnlaull5 LJl1dur an)' lOAn, olllulHilCI1 01 Cladll, !incLJtllv autoOlllunl, plJ/chlltio Clf 6alu!i uuruulllunl, ()/ /IllY olhur lIUIUUl11ull1. III !tJvQl c1UIl)' IJOW/ ClIJtlllCl 01 PUI!WJl Il1al InIlV malollllll)' allucl ony 01 BOlfOWUI'6 pfOpllll)' 0/l3oll0WOI'5 al)llll)' 1(') 10p/IY Ihl6 Nolu 01 l~ullolll1 110Howur'tj olJIIU1l110116 IJlHjOl Ihl6 Noto 01 all)' (JllhlJ r~lllolod Documonts, (11) An)' 10plOflJl\Iahctl 0/ 51111e",onl mado 01 hl"'16I1utj 10 tUlldl.!' b)' BOl/ow~! 01 011 1101l0WUI'5 IJutlollm 11111::0 01 IIllfilUlldlllO III on)' Olllh!IlIJ.1 uJ/::pucI (0) Ball ower l1ocoll105 1I1fiolvonl, 0 lOCUMH 15 nppolnlod 10' 111l)' (Jail QllleJllowlJl'!i p/opt.ld)', 1l0llowOI tlllll<06 an 0661UIHlllJllllo/ Il1u IJI.!IloliI 01 C/OdllolS, 0/ any plocuodlnu II:. cOlllllluncod ollhol I))' BOllOWl1f or f1ual/lli Botlowo/ IJllllo' ony IJnt1~IlJplcy 01 !I1IiOI\lOllqt laws. (I} An)' ClOdllor IlIos 10 101<11 any 01 l3orrowU/'6 plopoll)' 01\ 01111 whIch l.lJJ1lJm hilS 0 lIurl ()I ~OCurlt)' 1111011:51 lhl5 mr.ltJdl.!fi a gllllll/ihlllonl olllny of BOIIOWOI'6 IIccoullls wl1l1 Lendel (O} An)' ollllu DVDllhi d06r.llbud U\ thm (hllaLJlllillctlon tJ!:CllI:) Wllh lOEpucl 10 any UlJ/J/O/l\r;lI cl1l116 Nolo. (h) t.olldel 111 good fllllh dU0ll15 II!::ollult:eCIJIU lIon)' dol/wll, olllu/ Ihllll /I (jl)llIull \11 p/JYll1unl. 15 r.UlIIIJIO /Iud IllhlllOWor hilI: r1011Jlll!tl Ol\lun II 1101lCO 0111 I)JI!IICI. cllll0 t:litllO P/OVIISIOI1 01lhl5 Nolo Wllhln 11m P'OCOtjltlU Iwolvo (12) l11(jnI116, 111110)' tlJ cwod (al1l1110 ovonl 01 (lulIlIJII Will 11/IVU occUlled) II [JOIIOWC!I, "Itm rewlvlng Wllllun "ollr;o horn LundOl dom/IIHlInU curo Ol5ucIl dolllull llll CLJr05 lhl) dolllull WIII1111 IiIllwn 1161 tllt~,!:. 01 (IJ) II Iho r.\J/t] lOqUllfJIi 111010 Ihull fllluoll (151 days, 1I1l1ll0dlolulV 1I11111ltlJ6 blop& which I.lJndm l.!OlJl1lb In !urH..iol'r; bolo 1}I!iCIIJllt)1I It) 1;0 '.wltll';loI1I10 curo tho duhllJllll/HI Il1olollller C0l11111U05 olld COtl1pllJt05 011 lOlltionablo uno IIIlCU56/lIy !iIUp5 6lJIlIClUnlto pleallCO (nnlplIlil1CO III; 500n 116 rUII50n"tll)' prllellclIl LENDER'S RIGHTS. Upon dullllJll.lulHlor /1111)', 1I11t'I Ulvll1U ElJctl nollcot: 115 IUllLJlIlHJ ll)' appllC/11J1u hlw. tJl!ChHl~ 1110 01111113 iHlplllll plll1CljJlIllllllnnce clfl 1I11l~ Nuhl I1lld !Ill ncc.uod lJllpallllnh!le!:illll1t1ludlotel)' dlJO, and IhUrl 110110....01 wdl plly tlllll 111110111\\ LotHlo/ IllIlY tlllO 0/ pll)' l;()tllUCrlU olr;lJ to holp coitur.l 1111$ Nato 1I130llowor (JOOI:. nol PO)', 1J0uower IlIEO Will plly lender thol alllolJrll Tlllti /11(llJdoti, tilJbjecl II) lI/1y 11111116 tinder oppllctllJIO low, londuI'1S 0110/1'10)'6' 1005 olld lendol'lj 10001 {l)peIl501i wtlOIhor 0/ 1101 \ll01l) 15 II lawwl!. 11lr,IIH111l0 IlttOl1lUY6' 1005 find looul lJ):pom~m: lor tJlln~llJplcy pfocoodlllO'5 (H1CludIIlO ollolls 10 modlly 01 vBcalo 1I1lV alJlol11/1llr. slo)' 01 1I1jUncII01l}, IIPpOflI6. /I1l0 IIn)' onllclpllh~tl POlit-jlJdurnonl collection M!I\lIC06. II nol prohlbllod by BpptlcalJlo Inw. lloflowor also will poy ally COUlt COGtfi, 111 addition to 1I11 olhor liUIll5 prOVided lly law, II ludgmonl Iii (IntorCO 1/1 conllocllon Wllh 11115 Nolo. Inlo/051 Will conllJlUo 10 accltJo on \1115 Nolo ollm judgmonl Gllll0 0),1511"0 Inh~'olil 1010 plovlded 101 III 11115 Nolu. This Note h.. been d.llver.d 10 L.nd.r .l1d ....pl.d by L."do, In Ih. Commo"w..Uh 01 P.""sylv.,,'., IIlh... I. . "w.olI, BOIIAwer .0.... uro" L.l1dlr'. ..qollllo sUl1mlllo Ih. IU,'IIdI.'IQ" 01 Ih. .oo',s 01 Co",',.,'""O Cool1ly, ",. Commo"w..llh 01 P."n.ylv.",.. Th'. Nol. .h.1 b. guVI'I1.d by ."d .0"slroeO In ".ord.".1 wllhlh. lows ulllle Comlno"w.nllh 01 PI""sylvn,,'., OISHONORED ITEM FEE, 13O/10wOJ Will PIlY II leo 10 I. (lt1dUI 01 !~(',OO II nCrrOW(!r Il1nl<(!1j 0 pllYlllont on Borlowo'5 10lln and 111l) chllek 01 p.oI1IJll1orl;red ellalUu wllh wl1lch OOlIOWOI pa)'6 15 lnllJl (j15110t1CIOtl RIGHT OF SETOFF. BOllowel Ulllnll:. 10 Londor 0 conllllclulll pm~I]EEcry liecl)Ill~' 1t1IIl10l:illn, IIlld hOlo!Jy B6EIOilli, cO"vOy5, oohvUHi, plOdg05, and lralll:.lofS 10 I.onde/ 011 l]orlowoI'5 IIOhl, lllla and mtolef:l III and to, l!nllowel'5 BCCOdnl6 wllh Lender Iwl'clher c11(~CkIIlO, SBW1g5, 01 50mu olhQr BeCQlml), Illcludlng WllhOlJllltllllallon otl accounls hold jOIl1U)' wllh 50rnoone 0160 IIIH1 uti accOLJnl6 1.10110WOI mil)' cpon 1111110 lulule, o):cludlnO howl!ver nil IRA, l<oO(;h, nnul/Ulil accounl5. Oorrowm alJIIH)Illosl.endel, 10 \1'0 13):113111 pOlll1lllod b)' appllcnblo law, 10 cholgo 01 501011 nil sum5 OWing on Ihl5 Nolo agalllGI tiny ond 011 slJch occolJll15, DEFAULT INTEREST RATE. In 1110 ovonl ()I dolaull '01 wl1lch Iho LontlOf doo!) nol nccolorolo Iho Loan, Includlno 1110 lalluro 01 OOHower 10 provldo tho llIlOIlClRl blalel11onl5 05 loqUlrod I1Oluundl!/ or undor 1110 Loon AO,ou/l1(!tlt, tl10 oppllcoblO II1lelosl/alo on Iho Loan, lor 0 pOllod beginning Ihree (3) dn)'5 ollor wllllon IlcllCO 01 5uch dolllull and '3ndll1g upon the CllrlnO 01 !iold notlcod delllull. 51111lllnC/COEO ono Quoller 01 one pl.Hcenl (.26"\.) 10f Iho In51111111)' (30) davs OllSOltl dulaull and "'C/OllbO I1n additional onu qUllller 01 ono pel conI (.20''\,) IJLJIII'U oocl1111111y (30) doV pOllod lhl.!foallor dUl/nO whret' tl10 nollcod dolaull conllnuo5. Such dOIUIJIl 111101051 1010 611011 apply 10 1110 cul510ndlllg p/ll1elpol bnlonco 01 tl10 Lonn. Upon lho CUIII'O ollho nollCot1 duloulI, Ihu lnlOlC511olo on 1110 lonn 511011 lO\lOlt to Il1u 111111011)' nOlOod.-lJpon ,nlelm:! 11110 oHecllvo on 1110 dalu on whlcl1ll1o dolaull15 CUfcd. GENERAL Pf~OVI610NS. Londe, nllly delay 0' loroo enlorclnO IIny 01115 1101115 01 lemctl105 IHltll!! thl5 Nolo wllhout 10511'0 them, 1]0llOWor and all)' ol"or ponion wl10 51U"5, gUluanleu5 or IJnllor5l.!5 Ihl5 Nolo, 10 1110 (!).tent /llIoWOt] IJ)' fBW, waive p/o~lJnlmon!. dUJ11nlld 101 pBymont, plolosl and nollCO 01 d151101101. Up()n ony cl1ongo III tho torms ollhl5 Nolo, And IJIlI(!55 Clllf.)tWIE.U m!:IOl:5Iy sloh!C111l WIIIlJ1U, no pall)' wl10 51gn5 thl5 Nolo, whother 05 l11a~or. guo,alllor.IlCCOI1Hllodnllon n'lol<or or cndOlscr, 511(1111')0 ICIOllliOd hem IJIII;i1lty "lIlilJCh pOIllOS 110'00 111.1t Lonilm may ronow 01 o).!ond (IOpuntedlv and lor any tonglh 01 IlIno) 1111510011, ()r /ell.!lIliO llny plllly Of gllarnntel CI ccllnlQrlll; CI HllplJlt, Inil to /oull./O upon or pOlloct londe/'Ii E~CIJ/lty IIllmOEl1Il 11\0 collole/ol; and 11110.0 any olhel action doomotJ nOCGE5111)' b,' I.Qndu! y,lllu;ul tilt} CCrlr,UIlI cl OJ l10tlcn 10 11/l,'CflO_ t.!I '5ucl1 portaH; Ill~o l1U'~O 111111 LendOl rn/JV moe:lllv Ihlli loon WllholJllho conEont 01 Of Ilollco 10 anyono ollle/ 1110111110 Pili IV wllh wl10m Ille 1l\0dlllcall0J' Iii Illodo II Bny pOlhon 0111115 Nolo 15 'or anv 10050n dolOfmlned 10 bo IJIlOIlIOl'cooblo, II Will nol aUocl tile enlo/coablllt)' of any olhor PIOVI&IOn5 0111111i Nole. CONFESSION OF JUOOMENT, B0l1110WER HEREI3Y IRREVOCABLY AUTHORIZES AND EMPOWERS ANY AITORNEY OR THE PI10mONOTAI1Y OR CLERK OF ANV COUI1T IN THE COMMONWEALTH OF PENNSYLVANIA, 011 ELSEWHERE, TO APPEA'l AT ANY TIME FOR BORROWER AFTI'll A DEFAULT UNOER THIS NOTE, AND WITH OR WlrHOUT COMPLAINT FILED, AS OF ANY TEflM, CONFES5 OR ENTER JUDGMENT AGAINST BORROWER FOR THE ENTIRE PRINCIPAL BALANCE OF THIS NOTE AND ALL ACCRUED INTEREST, 10GETHER WITH COSTS or SUIT, AND AN ATTORNEY'S COMMISSION OF TEN PEI1CENT (10"1 OF THE UNPAID PRINCIPAL BALANCE AND ACClIUED INTEHEST FOR COlLECTION, BUT IN ANV EVENT NOT LESS THAN FIVE HUNDI1ED DOLLARS I$[,cul ON WHICH JUDGMENT OR JUDGMENTS ONE OR ManE EXECUTIONS MAY ISSUE IMMEDIATELY; AND FOH SO DOING, THIS NOTE 011 A COPY OF TillS NOTE VERIFIED BY AFFIDAVIT SHALL BE SUFFICIENT WARfIANL THE AumOHITY GRANTED IN THIS NOTE TO CONFESS JUDGMENT AGAINST 1l0HflOWER SHALL NOT IJE EXHAUSTED BV ANY EXEHCISE OF mAT AumORITY, BUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FUll. OF ALL AMOUNTS DUE UNDER THIS NOTE, BOflROWER HEREBY WAIVES ANY RIGHT 1J0,mOWEIl MAY HAVE TO NOIICE OR TO A HEARING IN CONNECTION WIIH ANY SIJCfI CONFESSION OF JUOGMENr AND STATI'S THAT 1l01ll10WFI111AS IJEEN I1EPRESENTED flY LEGAL COUNSEL.