HomeMy WebLinkAbout96-06175
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Kenneth P. & Catherine L. Swartz
209 Shippensburg Road
Shippensburg, PA 17257
$8,469.84
ShippensburQ, pennsylvania
October 31, 1.9~
In installments as hereinafter stated, for value received,
I/we, promise to pay to cumberland valley cooperative Association,
6 West Orange Street, Shippensburg, Pennsylvania, the sum of
$8.469.84 with interest on the unpaid principal at the rate of 11
percent per annum from date hereof until paid in full. Said
principal sum and interest shall be payable in equal successive
monthly installments of $394.76, ommencing on the 1jl day of
November, 1996, and continuing until ootober 30. 1998, at which
time any unpaid balance of principal hereof and all interest
accruud thereon shall be due and payable in full. All payments
shall first be applied to interest due, with the balance to be
applied to principal.
Upon default in payment of any such installments or of
interest when due, or upon failure of the maker to pay, within
thirty (30) days of billing, his open account balance with
Cumberland Valley cooperative Association, the whole of the
principal sum then remaining unpaid and all interest accrued
thereon, shall, at the option of the holder hereof, become
immediately due and payable, without demand notice.
And further, I/We do hereby authorize and empower any attorney
of any court of record of Pennsylvania or elsewhere to appear for
and to enter judgement against us, in favor of any holder of the
Note for the above sum with costs of suit, release of errors,
without stay of execution, and with fifteen (15%) added as a
reasonable attorney's fee, and I/We do hereby waive and release all
benefit and relief from any and all appraisement, stay or exemption
Laws of any state not in force or hereafter to be passed.
WITNESS: 11
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(SEAL)
(SEAL)
TO: Cumberland Valley Cooperative Association
908 Mt. ~ock Road
Shippensburg, PA 17257
RE: Kenneth P. & catherine L. Swartz
209 Shippensburg Road
Shippensburg, PA 17257
Demand Note in the amount of $8.469.84
Dated October 31. 1996
The Undersigned hereby certifies in connection with the loan above referred
to secured by a Demand Note containing a confession of judgement authorizing any
attorney or prothonotary of any court of record in Pennsylvania or eleewhere to
con fees judgment against the Undersigned. That the loan for which said Note wae
given ie not a consumer loanl that the income of the Undereigned (conjugal
income if both spouses exscuted the note) is Ten Thousand ($10,000) Dollars or
morel that it was orally explained and fully understood by the Undersigned that
the execution of a Demand Note containing a confession of judgement clause was
a waiver of the right to have a prejudgment notice and hearing, tho right to have
the burden of proving default on Cumberland Valley Cooperative Association, the
Creditor, and tho right to avoid expenses attendant upon opening or striking a
confessed judgement and that the Undersigned voluntarily executed the said Demand
Note with a confession of judgment clause knowing that the aforesaid rights have
been waivsd and that an execution may be issued on a judgement entered on said
confession against their property.
The Undersignsd further certifies that they were advised and understood
that they could have an attorney examine the said Demand Note and any other
documente in connection with the loan prior to exscution.
WITNESS:
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(!ttbI(Cu.~'(1\'-I: ~kll~(~ (SEAL)
COMMONWEALTH OF PENNSYLVANIA:
COUNTY OF A, mOl 1 III A tL
C.1SI1i.'LJ" Lf L/'JctLl\'C1, (kllU~J L{J.u/:}( Ie being duly sworn according
tJ"lawQ deposes and says that the facts set forth in the above
certification are true and correct.
SS
Sworn to and SUb~~ibeq before me,
th) r~1 doy of r Ie I "'>I , -
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JENNIFfn no"" NAIJGLE, riot',. Pu~l:c
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