HomeMy WebLinkAbout96-04748
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. Il'I'JYYi lilOO1/11.'"hlllO, lijil1l~lJllpl,"II"
v,
IN THI OOURT OF COMMON PLIAS
OF CUMBERLAND COUNT V, PENNSVLVANIA
CIVIL ACTION. LAW
88.04748. OIVIL TEAM
PENNSYLVANIA STATE SANK,
PI.lnllff
MICHAEL J, OREENE end
KIM S, OI"IEENE,
Defendant.
PARTIAL RELEASE OF JUDGMENT
WHEREAS, on Augusl 26, 1996, judgmenl wos enlerod In Iho amount 01 Four Hundrod Filly
Thousond ($450,000,001 Dollors In lovor 01 the PENNSYLVANIA STATE BANK against MICHA!!L J,
GREENE ond KIM 6, GREENE, In tho Courl 01 Common Ploos 01 Cumberlend Counly, Dockel No, 1996.
04748, pursuanl to 0 oorloln Guoronty, dOled Oooombor 20, 1991; ond
WHEREAS, Mlchool J, Groone Ie 0 perlnor of Ponnsylvenla Propertlos. a Ponnsylvenlo gonorol
perl11Orshlp, which sold pOrlnorshlp wos lho ownor, ot Ihe limo 01 onlry 01 said judgmonl, 01 two (21
1r11provod Irools 01 reol ostolO elluale In Hompdon Townehlp, Cumberlond County, Pennsylvonlo, being
municipally known ond numborod es 4805.4807 Trlndlo Roed, Mochanlcsburg (Hompden Townshlpl,
Cumberland County, Ponnsylvonlo, blllng morll porllculorly boundlld end dascrlbod on EHhlblt "A",
attached horolo ond mode 0 porI hereof; and
WHEREAS, Mlchool J, GroeM end Kim 6, Groeno hovo rllquostod, ond Pennsvlvanlo Slele Bonk
hOB ogreed 10 rolooso sold judgmont ogolnst lho obovo.doscrlbed proper tv,
NOW, THERE~ORE, Ollho Instonco Gnd rllquost of the eeld MlchR~1 J, Greeno end Kim B. Greono
and Ponnsylvanla Proporlllls, end In consldorotlon ollho sum of One ($ 1 ,001 Doller, Iho receipt of which
Is horoby ecknowlodgod, ond Inlondlng 10 bo log oily bound, Ponnsylvonle Slote Bonk doas lor Itsoll, lIS
SUCC08Bors and o8Blgns, covenonl, promlso, end ogreo wllh lho sold Mloheol J, Greono ond Kim S, Greeno
ond Ponnsylvonla Proporllos, lholr holre, succouora end osslgns, thot II ond to lho extonl thet sold
ludgrnllnt Is 0 lien agolnst Iho roolllstolo descrlbod In Ellhlblt "A," Ihot Ponnsylvonlo Stote Bonk will not
.
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lJ'iYYYY'OWHlhl'''''~I'' Ill, I ~~ftl~IIWiNl.II/IOHlQ
PENNSYLVANIA STATE IIANK,
1'lulnllrrN
IN TIlI~ COUllT 01; COMMON I'LILAS
CW CUMIII!KI.AND COUNTY
CIVIL AC'I'ION - I.AW
96-047411 - CIVIL 'rEalM
I\I/c.:lli\l':L J. GR/!I!NE ANI) KIM S,
GImliN I!,
I>~r~ndlllll~
AGK/mMIINT TO SUIIOIU>INATE JUI>Gl\mNT I.IEN
Fe)/{ ANI> IN CONSIllEItATION "I' th~ MlIll "I' ()II~ allL! 001100 ($1,00) Dullllr IIl1d ulh~r glhld IIl1d vlllullhl~
~,,"sld~rnlllll1pllld III It hy I/UI'I'IN SlIvIIIIlN 1111111;, r~,~ipl<lf whkh Is h~r~hy lI~kl1owl~dl!~d. 1'~III1~ylvlllllu SfUI~ lIullk
do~s h~r~hy ~'lV~lIalll, pn)mls~ IIl1d IIgr~!! Ii". II,", 1', II' '"~"~~'''rs alld a"lglIs Ihllllh~ 1I~11 .,1' Ihe JUL!l!Ill~1II elll!!r~d ""
AugllSl 26, I ')<I() , IlIlh!! am"1I1I1 "I' FlIllr lIulldr,'d I:lliy Th"usalld alld 001100 IM50,lklO.0lJ) /l"lIl1rs III fllv',r lIf
1"~III1NyIVIIIIIII SIIII~ 1111111, alld IIglllll" I\lIdllwl J, lil'WlIl' ulld l{ltll S. (il'l't!II~, III Ilw ('<IIJrl lIf ('''lllllllll1 PI~as lIf
CUlI1h~rlalld ('tJIIIllY, P!!lIl1sylv'llIllI, /l"ck!!1 1"lI. I'J')(l'!H7'IH, pur,ualll hI" ~!!rlalll (jllilrilllly dill~d /l~,!!lllh!!r 20, 1')1)1,
glv~1I hy Ilw sllld I\lIdllwl J. (il'l't!lI~ IIl1d I\lm S, (;I'~~II~ It, Pelllls~'II'11I111I SIIII~ IIl1l1k. ,hall he p"Slp'lI1~L! III IllvlIr
lIfal1d lIH1de \lIhlll'\lIl1l1l~ 11I11t~ 1I!!II'lf a Mongage dat!!d S~pl~lllh~r, 20,19'16, glvell hy 1\1Idllwl J. Gl'l~'II~ IIl1d KIIIl
S, GI'l'<!IIC I" 11111'1'1, SI1\'IIIIlS 1111111, 111 Ih!! prll1-'p'll alll,lUl1ll1f Elgin Iful1dr~d F"ny-Slx Th"uslIl1d Thr~~ lIul1dr~d
Slxly.NII1~ al1d 29/100 ($H4(,,,16'),2'J) DlIllllr', ~"v~rll1g al1llllpr"v~d lrad <If r~1I1 ~sllIle sllulIl~ 111 HlIlllpd~11 TUWl1shlp,
CUlllh~rllIl1d, P~l1l1sylvlIl1la. h~llIg lllul1klplllly 1<lhllVII IIlId I1l1lllh~r~d liS 4075 Mllrkel Slr~~I, Camp filii (Halllpd~11
TlIwlI,hlp), P~l1l1sylvlIl1l'l, hell1g 1lI.1I'~ pankulllrl} d~"rlh~d III Exhlhlt "A" ulllldl~d her~wllh IIl1d Illlld~ pun h~r~<If,
IT IS FUltTIlElt ugr~~,llhullhl, ,"h",.,lll1all"lI "I' II~II ,hall hav~ Ille SUIII~ 1;lr~e UII" eff~cl U, If lh~ .Iudgllll'.1lI
III fuv"r Ill' 1'~III1~ylvUIIIII SIIlI~ 1111111, has h~~n ~llI~r~d suhse'iu~11I III Ihe r~~"rdlllg 11" Ih~ ul(lr~II1~III"lIl~d Mllrlgllge
hI llunlN SU~hlIlN lIullk hUI shull 11111 chulIg~ Ill' an~ct Ih~ prlorlly Ill' the JUdglll~/Il11l fuvor 11" l'clllIsylvUlll1l Slllle
lIunk In n:lllllol1lll llllY oth~r jlldgm~l1lllr 1I~11 ~11I~r~" llglllnsll\lIchll~1 ./. Gn'<!lI~ ulld Klmhc,'ly S. GI'l't!IlC,
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l\llmEM, HmBmr c, HJORE, JuallllllJ w. If:XlItE an! IiIOfllEL J. ClIlf>>lJ!:, 'l'l^
Pl!2mSYLV1\tfIA IffiPERrlffi lWINJfMVm' CUIi'AtI'i, II partnel:'llhip (Mroil1llfl:er called
"flol."rC1W8r") deal.res to transaot bllsirlCS8 with arrl to obtain ermi!: ttQll the
PmNSYLV1\NIA Il'I'Nl'E IW/I< (hereil1llfter CJIlled "I!llllll(lI) I I)rrl
WHElUWl, llLlnk is unwillim to oxton! or oontinllO e~Ht 01." any t'IltlDWl11
thereot to 1301:'tU;let.' Wl.tJl00t: thls GllllJ:llnty,
NCM, 'nffllEFOHE, in ol-uor to II'PuCll ll<1llk to oxto/).l 01." continuo or.a:W;. to
llorl:U;ler, am ill <.Xlllsl<lorlltJon of tho prCJIlillOlI All<! tho BlIm of ~1,OO am of
other good un! valU/lble ool18ldomtloll, t'Jle UI-,:!onligno:l, liB SU~Y.Ity, suhjoot
only to tho limitation hot'lllllllf.tnl:' oot fortJl ill poragrnpl 1, horclJy Ill:xlolutoly
arrl UllOOI'):iitiol18lly gLUlrantrefi to Brm)< ptull1t pllyment whon duo ani Ilt 1111
tiJooB theroofter at any al'P all oxistll'lCj am tlltul"O lI'):iootodnoas aoo lillbility
of evory kim, natllt'll I\I'P charactor (1llCludim all l'CI'lOWl\ls, oxtonsiOI18 am
I1lcxHtications thoreof) fn:.n IJol:'n7N(lr to Blink, hl'1Nl3OOvol:' and WherlllOOVer crClIte:!
or arising or ov idonco:l Ol~ a<XJlll 1'00,
1. '1110 Ill11Olll1t at the ul),!ot'llignoo's liability hOt'lllll'Pel:' shall be Four
Hun::ired Fitty 'lholloom 0::l1l1ll'U ($450,000) plus ao:::rned intorest. 'lho
undersigned agrees thllt tho 81TPllllt of lJorl-a.'Or's liabilities t.o Uilnk Il'OlY troll
time to tiroo excoOO the said limit ot tJl0 lll-,:!onlignod' s liability hereurxlol'
without in Ilny WilY attoctl.1'lCJ tho linbility of tho UJ'Ponligned hotllunder.
2, '111ill Guaranty is mado nnl shull O:lI1tinuo liS to any al-,:! all such
indebtedness 1300 litiliility of IJol~tu;lor to llLlnk, withoot: regnro to oollllteral,
or security, or <JUIIrnnt:len, or othQr obllgCJl'U, H any, 01:' to the validity .or
eCfootive/108s at any ll/'P nll thor<!Ot I 1Il'P IIny an:I all SUdl oollateral ar-,:!
security am gUlu'antloB fJI'P otJler obligonl, if any mBY froll Hroo to tlroo
without notice to, or <.Xlnscnt at tho ul'Pernigned, be oold, released,
surrendered, O)(chnl'lCJoo, 6Ottloo, carpraniso:t, wnivoo, subonH/1lItOO .or
modified, with .or without conaidorntiol1, on such terms 01." corrlitions liS may be
aooeptable to funk, withoot in (Jny manner atfectil'lCj or urpairil'lCj the liability
of the un:!ersigned.
J. It l.s aIJreo:I that the umorslgne:l's liability hereunder iB several
and is indeponlent at any other guaranties I\t I\ny tilM in effect with respect
to all or any part at the imebt.odnasll of l3ol"l'\::Ml1r to Bank, an:! that tho
undersigned's liability heroumer may be enforced regaroless at tile oxistanoe
of any auch othor <JUIlrantiea,
4. 'the undersigned hereby waivea all notices of any character
what.soever with respect to this GUllranty am Jlo~r'a liabilitiea to Bank,
including, but not limite:! tor notiOll .of acceptanoo hereof, notiOll of
crootion, existence or aoq\Jiaition of any liab11 ity hereby guaranteed, notice
of adverse chat'lCje in Jlo~r's financial comition 01." at any othor faot
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aUeoti~ Wlderaign<<JI fJ rl.fJk hol:"e\.lMOrl IIl1d not:ioe of default. '1'"
uJl;lenaiqrllXi fUrther Wllives tho bonefit of all laws llO;/ or hol:1llSfter in effeot:
in Iltly Wily limJ.ti~ or rostriotillCj tho liability of the urmrsi'iJtll!Kll1el:UllMer
8M waivoe 1111 dofonsea IIMl:I3Ol!Iver t.o uMet'SiCJTllld'fJ liability hel:llUll:Ier other
thBn pIlYJOOnt,
5. If nny of IJorJX1.olOr'a obligations to aank at1l not duly perfo~1
inclucUm tho proltJt pnyn~nt whon due of any IIJ1nmt pnyable thel:llUll:Ier, all
llorrc:7;,'llr'B linbilities to J3nnk alm11 at J3ank'B qJtion be deaood to be
forthWitJl duo IInd pnyablo for tho P.lrpooeS of thJ.a QUlrllnty 8M the liability
or. the UI'/:IOnJ igna:! hat"U\lndeJ:,
6, In IIddltion to nll othl)J: linbility of the ul';:1oroignoo horolJlljor and
rlOtwitimtlltlClin'l tho limit oot fortJ1 in pnragrnri1 1 horeof, the undersignoo
all30 agrees to pay to /lnnk on dl1J11/lllCl 1111 r.:oaW B1lCl expanses (inclooit):J
ro.nsotvlblo IIttorneya I fees nl1d legl\l oxpol1Bes) whkh JIVIY bo incurro;1 in thl!
enf.ol:"Cemont of tho UorrtJil<Jr's llllbilitillfl to llank OJ: tho liability of the
undoroi'lrllXi haJ:"Qurr.lor.
7 . 'lho ullClera i gllOO herehy l\uthorJ 7.eB and Cllp:1WlltS IIny Prothonotary,
Clark or Attorney of llny Court of 1<<!cxJn1 to awcnr for 111'):1 CXlnfesa judgn~nt
against the underai~I'nJ In (IIvor of BlInk, ita BUOCCSOOrs or assigns, at 8ny
tilllEl, far tho BUill oot forth in p,lr1lgra!il 1 hereof, with interest, oootn and
t'l!8sotvlblo fooll of COlllJBel, with mlOIlBO of orror, lIOO without. stay of OXOC\j-
tlan, 800 the u)'),1l)raiqnoo nwthn); l\uthori.7.0S tho irmlll<llllto Imming of lIn
approprinte writ of e)(QL'\Itian upon whld1 re"l OJ: poraalllll property m!lY I:Je BOld
without dlllay liS provido:! by lllw or t110 rulEls of cJ.vll pt.'l:XXrllll:"C governJ.ng the
enfol:'<X!ll'Cnt of judgl1~ntfJ' and the llllClnl"BiqlnJ nlBO wilivns tho rJ.ght of
inquisition on nny L"C'.11 nstJlto that IMY be lnvio:l upon to OJllcct the lImCAJl1t
duo undor 11 jUd<JIlXlnt obblinod by virtuo het'l3Of, 1111d u/):lot-signo:l does hot''Ohy
voluntarily CXJl1d(~1U1 tho SillllfJ illld heL"C'by waivo::! 11llCl L-oIOllOOS nll J:-oHef I'ron
any and all ntvrniSC'J1Xlnt, stilY or han<'Btl?11d IUW6 of nny state, 110;1 J.n faroe,
or hereaftor pmmo.l, nn.l nny ri'lht to oxCX?pt to, utriko off, opon or ilr:penl
fron tho jlldgment so I3ntm-o:lr ilnd it il tt~IO copy of this InstnulIont shall be
file::! in any such nct,J.on, It Sh.ll1 not be neccS&lry l:cJ file t11e origlnlll llfl n
Will"rant of nttol.11OY, nny rule of CXlllrt to tho =ntraty notwithstnndi~. No
Bingle exorcise of tho t'at'o:Jaing warrant allCl pa.lCt' to =nfe88 judgmont shnll
be dOOl1lll<i to md1J1ust tll(! pavler, but it shall continuo lIndilllinishoo and mllY be
oxercisOO f.ron ti~ to tlllX1 nB often nl> /lank B1ulll olnet, until lIll 131JJ11B
pnyable by thn Undornignoo have bP<.!n pdd in full.
13. 'ro SClC\Iro nll obllgiltionB of the uOOnrnignod heJ:"Qul1dor, llank almll
have a llen upon nnd so<:urity interest in (m1d may, without dCll11l\nd or notiOl
of any kind, nt lIny ti~ am fl:U11 ti~ to tilOO when any al1PJJ1t shall be due
nnd payable by such ullClersigllOO horeumer, npproprinte nnd awly to.Innl tho
payment of sllch nmollnt, In sud1 onior of application liS n.1nk mny elect) any
nnd all bll lnt1CeB , credits, dnpos its , 1l00000nts or IOOnoya of or in tho name of
such uOOornignod I1<1iI or hereafter, far any r.eal3On or p.lrp060 whn~llOCVor., in
tho possession or. <.'Xlntrol of llank.
9. '1ho linbil i ty of t.ho ullCleraignod hoteuMor ia nbsoluto am
unconclitial1J11 nnd shall not bel <1ffoctOO in IIny way by reason of (a) any
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