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HomeMy WebLinkAbout02-5133FULTON BANK, Plaintiff VS. ELMER J. SLASEMAN, Defendant : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA : NO. O 3 - C133 : CIVIL ACTION - LAW CONFESSION OF JUDGMENT Pursuant to the authority contained in the warranty of attorney, as contained in the Guaranty Agreement, a copy of which is attached to the Exhibits of the Complaint filed in this action, I appear for the Defendant and confess judgment in favor of the Plaintiff and against Defendant as follows: Principal Interest through 10-16-02 Late Fees Attorneys' Fees Total $40,000.00 $ 2,092.50 $ 18.25 $ 1,500.00 $43,610.75 Attorney ~ FULTON BANK, Plaintiff VS. ELMER J. SLASEMAN, Defendant : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA :NO. 'ld2, : : CIVIL ACTION - LAW TO: Elmer J. Slaseman Elmer J. Slaseman 14 White House Beach 120 North 4th Street Millsboro, DE 19966 New Cumberland, PA 17070 You are hereby notified that on ~ ,:,~, ,2002, judgment by confession was entered against you in the sum of $4~-,610.75 in ~e above-captioned case, plus costs of suit. Prothonotary YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP. Lawyer Referral Service Cumberland County Bar Association Carlisle, Pennsylvania 17013 (717) 249-3166 /45655 FULTON BANK, Plaintiff VS. ELMER J. SLASEMAN, Defendant : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA :NO. : CIVIL ACTION - LAW TO: Elmer J. Slaseman 14 White House Beach Millsboro, DE 19966 Elmer J. Slaseman 120 North 4th Street New Cumberland, PA 17070 A judgment by confession has been entered against you in Court. If you wish to open the judgment or otherwise attack the claim set forth against you in the following pages, you must take action as soon as possible after this Complaint and Notice are served, by entering a written appearance personally or by an attorney, and filing in writing with the Court your defenses or objections to the judgment entered against you. You are warned that if you fail to timely do so, you may be foreclosed and not able to do so at some alternate date and execution may be issued against you without further notice. You may lose money or property or other rights important to you. CALD~L & KEARNS Att~r'~fi~ lor Pl~ff YOU SHOULD TAKE THIS PAPER TO YO~ER',AJ ONCE. IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP: Lawyer Referral Service Cumberland County Bar Association Carlisle, Pennsylvania 17013 (717) 249-3166 FULTON BANK, Plaintiff VS. ELMER J. SLASEMAN, Defendant : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA :NO. : CIVIL ACTION - LAW TO: Elmer J. Slaseman 14 White House Beach Millsboro, DE 19966 Elmer J. Slaseman 120 North 4th Street New Cumberland, PA 17070 A judgment in the amount of $43,610.75 has been entered against you in favor of the Plaintiff without prior notice and hearing based on a Confession of Judgment contained in a written agreement or other paper allegedly signed by you. The Sheriff may take your money or other property to pay the judgment at any time after thirty (30) days after the date on which this notice is served on you. You may have legal rights to defeat the judgment or to prevent your money or property from being taken. YOU MUST FILE A PETITION SEEKING RELIEF FROM THE JUDGMENT AND PRESENT IT TO A JUDGE WITHIN THIRTY (30) DAYS AFTER THE DATE ON WHICH THIS NOTICE IS SERVED ON YOU OR YOU MAY LOSE YOUR RIGHTS. YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP. Lawyer Referral Service Cumberland County Bar Association Carlisle, Pennsylvania 17013 (717) 249-3166 By: Respectfully submitted, )WELL & KEARNS ~ ir tli~!!q uire Harrisburg, PA 17110 (717) 232-7661 FULTON BANK, Plaintiff VS. ELMER J. SLASEMAN, Defendant : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA NO. O;;Z-.EI CIVIL ACTION - LAW CONFESSION OF JUDGMENT COMPLAINT PURSUANT TO Pa. R.C.P. 2952 AND NOW, comes the Plaintiff, Fulton Bank, by and through its attorneys, Caldwell & Keams, who makes the following Complaint and states in support thereof as follows, to wit: 1. Plaintiff, Fulton Bank, is a Pennsylvania Bank and Trust Company duly incorporated and existing under the laws of the Commonwealth of Pennsylvania. Plaintiff's principal place of business is located at One Penn Square, Lancaster, Lancaster County, Pennsylvania, 17604. Plaintiff does regularly conduct business within Cumberland County, Pennsylvania. 2. Defendant Elmer J. Slaseman is an adult individual whose last known address is 120 North 4th Street, New Cumberland, Cumberland County, Pennsylvania 17070, but also maintains an address at 14 White House Beach, #M, Millsboro, Delaware 19966. 3. Refrigeration Specialist, Inc. was a corporation organized and existing under the laws of the Commonwealth of Pennsylvania. To the best of Plaintiff's knowledge, said Refrigeration Specialist, Inc. has ceased doing business. 4. On or about December 26, 1991, Refrigeration Specialist, Inc. did enter into a Line of Credit Promissory Note and Line of Credit Agreement with Fulton Bank in the amount of $50,000.00. A true and correct copy of said Line of Credit Promissory Note and a tree and correct copy of said Line of Credit Agreement are attached hereto, marked Exhibit "A" and Exhibit "B", respectively, and made a part hereof by reference thereto. 5. By various Supplements entered into July 10, 1992, June 1, 1993, and finally on January 9, 1996, the principal of the Line of Credit Promissory Note was adjusted down to $40,000.00, with an interest rate of 2% over Fulton Bank's prime rate of interest in effect from time to time. The rate prior to the final Supplement of January 9, 1996 being at 1% over Fulton Bank's prime rate of interest. A true and correct copy of said various Supplements to Line of Credit Promissory Note, to include the last Supplement of January 9, 1996, are attached hereto, collectively marked Exhibit "C", and made a part hereof by reference thereto. 6. On the date of the entry into the Supplement of the Line of Credit Promissory Note, Exhibit "C" hereto, in consideration therefore, Defendant Elmer J. Slaseman did execute and deliver to Fulton Bank, on January 9, 1996, a personal Guaranty for all liabilities of Refrigeration Specialist, Inc. A true and correct copy of said Guaranty of Elmer J. Slaseman is attached hereto and marked as Exhibit "D" and made a part hereof by reference thereto. 7. The obligation required regular monthly payments on the tenth day of each consecutive month, to include principal and accrued interest, until all sums due under the Line of Credit Agreement and Supplement to Line of Credit Promissory Note had been paid in full. 8. No payments have been made on said obligation since January 2002 through October 2002. 9. At various times, to include July 2, 2002, Fulton Bank has made demand upon Elmer J, Slaseman for payment of all delinquencies of said Line of Credit Agreement and Line of Credit Promissory Note, as supplemented, but said Defendant has failed and/or refused to pay any delinquent sums due. It is, however, noted the terms of the Line of Credit Agreement, as hereinbefore identified, did not require any such written notice or demand prior to exercise of Fulton Bank's rights hereunder. 10. The balance due on the obligation is as follows: Principal $40,000.00 Interest through 10-16-02 $ 2,092.50 Late Fees $ 18.25 Total $42,110.75 It is noted that the Promissory Note carries a per diem interest of $7.50 per day, after October, 16, 2002. 11. Judgment has not been previously made on this obligation, in this or any other jurisdiction, with regard to Defendant Elmer J. Slaseman. 12. Defendant is not a member of the armed forces of the United States or its allies. 13. Demand is also made for reasonable attorneys fees in the amount of $1,500.00 as authorized by the Line of Credit Promissory Note. WHEREFORE, Plaintiff Fulton Bank demands judgment against Defendant Elmer J. Slaseman, in the total amount of $42,1107.75 plus attorneys fees of $1,500.00, cost of suit and accruing interest after October 16, 2002. By: Respe_ctfully submitted, CAL~~ KEARNS J~~lip~, Esquire Att{~mey ~D No.X0Z159 Attot~my/for Plaintiff 3631 North Front Street Harrisburg, PA 17110-1533 (717) 232-7661 I, Clint M. Miller, Vice President of Fulton Bank, who, having authority to execute this Verification on its behalf, verify that the statements and averments contained in the foregoing Complaint are tree and correct upon my personal knowledge, information and belief. I undersiand that false averments herein are made subject to the penalties of 18 Pa. C.S. §4904 relating to unswom falsification to authorities. Date: Oe.~ ~ox gloom- By: FULTON BANK: Clint M. Miller Exhibit A Promissory Nm Line of C~dlt .~ ~ULTO~ ~I~C~AL CORP FAX ~0. 717 569 $316 P. 2 '/'/c'=',-Ol:." ,", ,. '- . ,..., ./,. ,.,, ." ..{ · n_nnn /~.~ ~ ,,g~.,,. ~- , '~g. ~"r For Value Recelve~ ~ Inl~no to ~ ~ally ~d. ~ ~r (~ t~ ~ us~ h~n m~ ~ ~, ~cl~ ~ ~lm to pay ~ the ~ of Full~ ~ ~B~k~ U~N DEM~D ~ ~l 8~ of "1 ~ ~t' ~nl~ un~ ~ I~ t~ ~ lime '~ t~d.l, ~f. ~,~ t~ ~/~ ~1~ ~th h~fl~ ~ If ~ hem, at ~ flx~ mil ~., % ~ ~n~ '~ ;~e'; ~t ~ II ~ ~, the '~lt~l r~e," e~ ~ ~ ~ ~t~ rme to ~ efl~l~ on ~ eff~t~ Inlet ~ tl~ to I1~ ~ ~ t~ Bank es I1~ ~1~ r~e, ~ ~ d~t~, ~ ~flo ~ ~lh ~lp~ ~d intent ~e pay~ In ~wlul ~y o~ the ~lt~ Slat~ of AmeH~ I~ ~nk ~ I~ time lo lime ~1. In ~ll~. Ihe ~ ~l~e to Day to I~ ~n~ ~a~t of ~Dal or ~te~l ~l~ lo ~ then 15 ~ Iaea. ~ ~ ~ th~ ~.~ Inler~! ~1 ~ ~lcul=/~ ~ t~ ~els el a ~ ~ f~ ~e e~uM num~ el da~ el~. Int~ ~all ~ ~ ~ d]~s~nt ~n~ f~ the date s~ dl~t is ~ ~ ~nk ~ ~1 ~nt~ ~f.° =em t~ ~ ~ he;~l ~ the tale ~ In this Note, ~lwlthst~lng the ~t~ of ~ J~o~nt agent · ~la ~, ~lng ~l~ r~ ~nk s~ll ~t ~ a~ ~t~l~ fm ~ r~. of I~ B~ In wh~ M~ ~ r~ ~ ~t~ ~ ~r ~ ~e ~1 ~ ~ ~. ex~ to the ~t ~ ~ ~ to ~ m~f~tly ~ ~ to ~te or ~1 Im~ the ~l~t~ of any ~t~t ~ ~l~tl~ ~ ~ ~ of ~ ~ ~ ~ ~Y ~ ~ to ~ for the ~ of ~y ~wer. ~ ~11 h~ t~ ~ ~u~ to pr~y MI~ ~ally ~ ~um. ~ ~ lime ~ of t~ ~stan~ng prl~lp~ ~l~ of thel~n~ ~ovld~ that ~ I~t ~ the tl~ of 8~ s~h ~e~lnt. ~ls ~te ~ ~ ~ a U~ ~ ~lt ~enl of ~ d~e ~eMth (~ ~fl~ from time thl~ t~ ~dure f~ t~ I~ns ~. ~ tele~ ~ ot~ I~i~ all of ~1~ Ihe ~t Ihat ~ ~ ~ul~ to ~ m~e ~er I~ ~ paid ~ ~ ~ ~ late ~ B~k ~ (1) u~ t~ ~ of ~t t ~ ~ to ~. ~ln ~ng Int~ ~t~! ~1 ~ t~ t~ ~i~e I~t rate ~ ~ ~d p~l~ bal~ ~ ~ ~ ~ll~ m at Iny U~ ~. ~ ~t~ ~1~. ~ ~y ~ all fl~ts h~ ~ ~ ~y ~l :a~t ~. ~yo~. ~y O~r~t~. ~ ~y ~l~t~. ~y I1~0 a~ ~ty Int~t a ~1 ~ ~t of ~k~ right ~ff. ~t~ to ~ ~ ~ ~t~ ~ya~ h~. ~ ~ to pay ~k. ~ ~ep~la~ ~ ~ a~s of ~. ~ ~all Inure to the ~efll of ~n~ ~1 I~ ~ing ~ ~ll ~ ~ ~ t~ I~ of ~th~ t~ fallu~ ~ ~ ~ay ~ I~ ~ of ~k to ex~ any ~hl. ~ ~ ~1~1~ ~f. ~ ~f~at ~ of ~ ~ of ~ll ~ ~11 ~ eff~ ~l~s In ~1~. All ~hls ~ ~ Inl~l ~ (~ ~ N~i ~ ~ all Ill~lltlea ~ I~m. ~lotlng ~ futura, of ~ to ~1~ ~llfl~l~ of It~ of ~l~l ~u~ thio ~tl: ]n~o~y ~n~ ~zsona~ ~ar~ Blur ~. Slas~ & ~an~ a. glas~ A~ FULTON :I:t~6~AL ~20RP FA)[ NO. 717 569 631§ ?. 3 ~lfl~ll~ ~1 In ~ ~ ol~t t~v~lY ~ o1~ of this ~1 h mulm~ rolo ~ ~ ~ 8~. t~ t~ rate ~ hM ~ ~ Iff ~ Of I~ ~ ~ ~ ~e el ~, ~M ~ f~ ~ iff t~ ~ of flft~ ~t ~5%)~ ~ ~ ~ ~ a~ ~l, ~ ~ than b ~ ~, it ~1 ~ ~ ~ to file I~ ~i~l as a ~1 of ~J~ Of ~ ~t I~ ~ to ~ ~t ~11 ~ ~ M ex~t ~ ~, w~l~ ~ nM a~ ~h ex~ ~1 ~ ~d ~fl to~l~e~ ~t ~8 ~ ~l~;,;;~e ~lmlnl~ ~ m~ ~ox~l~ f~ time ~11 ~ M, ~e ~t~ p~ a~l~ ~18 Note 8m~ ~ ~tal~ iff tis entity a ~8ln ~ N~o M~a ~ th~ ~ the ~llat~l ~uriiy theft, ~ CORPORATE SIGNATURE IN WITNESS WHEREOF, the Bo47owe~ his caused thio F~)mlssorY Note to be duly executed byILs duly auth°rized °fllce~s' and I!0 corpofJle seal to be impressed here~fl ~n the date first Id feflh above. Nome of Co(Tspeny INDIVIDUAl/PROPRIETORSHIP/PARTNERSHIP- SIGNATURES IN WITI~E-~~_ WH Ell EOF, tho Borrower h&s caused this Promls~y Note to be duly executed on the data fir-* Mt fQflh above. Exhibit B Line of Credit Agreement Gentlemen: This Is to confirm certain borrowing arrangements and procedures made between Refrigeration Specialist, Inc. ("Borrower") and Fulton Bank ("Bank") in connection with Borrower's line of credit which is evidenced by Borrower's Promissory Note Line of Credit of 5 0,0 0 0 executed to evidence borrowings under the line of credit. Bank agrees until further notice from Bank that, upon Borrower's advice by telephone or by personal appearance at any office of the Bank, from time to time of either the President or of Borrower that Title Title Borrower wishes to borrow money pursuant to the line of credit, Bank will lend and forthwith credit Borrower's demand deposit account # 3 ~ / ? - O ;;7~ ~) ~ with Bank ("Account") such sums of money as may be mutually agreed upon by telephone, it being understood, however, that ail such loans or advances are within the Bank's discretion. Borrower agrees to forward written evidence of such borrowings by mailing on the same day a letter of confirmation signed by the or of Borrower confirming the amount so borrowed. Title Title Pending receipt of such letter by Bank in the ordi nary course of the malls, any sums of money borrowed by telephone or by personal appearance in accordance with the foregoing arrangement shall immediately be placed to Borrower's credit in Borrower's Account. Bank will forward written advice of such credit to Borrower. In the event that Bank does not receive the required confirming letter wlthl'n three (3) business days of the date of request, Bank shall have the right to debit Borrower's Account, or any other account if funds in the designated account are insufficient, for the unconfirmed borrowings and apply the debited amount to Borrower's line of credit. All such borrowings shall be repaid by Borrower upon Bank's demand, but they may, at Borrower's election in any Instance, be repaid at any time prior to demand upon Borrower's instructions to Bank by letter or telephone or personal appearance by any of the above named contacts confirmed by a letter mailed the same day and signed by any of the authorized signatories described above. Repayment, whether upon Bank's demand or prior thereto, may be effected by debiting Borrower's Account, or any other account if funds in the designated account are insufficient, and followed on the same day by written advice of such debit to Borrower, or by such other method as is satisfactory to Bank; but repayment may also be rrlade in any other manner. The total interest cost for each month shall be payable on the / O'/-~' day of each month. Payment of the amount of interest due may be effected (among any other methods) by debiting Borrower's Account, or any other account If funds in the designated account are insufficient, with written advice to Borrower, or by any other method acceptable to Bank in writing. This Agreement is further subject to the terms and provisions of the Promissory Note Line of Credit referred to above and any renewals, modifications or extensions thereof. If the foregoing satisfactorily sets forth the procedural arrangements made with Bank, Bank requests that Borrower endorse Its acceptance thereof in the space and form provided below, returning the original to Bank for Bank's file. Name and Title FULTON BANK ,~, / BY: ~ '///~J/' Name and Title FR/2756 Rev. 4~88 DISTRIBUTION: ORIGINAL 0NHITE)-BANK, DUPLICATE (YELLOW)-CUSTOMER, TRIPLICATE (PINK) CREDIT DEPT. Exhibit C Exhibit Fulton B~k ~B~~ Supplement to Line of Credit Promi~sot~ Note The provisions act forth in this Supplement constitute additional proviz/om or modifications of that certain Line of Credit Promiszo~y Note dated o-ULY 10. 1992 (the "Note ') coveiiag the obligations and liabilities of the Undersigned 1. Thc provisions of this Supplement shall he deemr, d to he fully incolporated by reference in and shall consl~tute provisions of the Note as of the d~rc of thi~ Supplement 2. Except as eapre~y supplemented or r~odified by this Supplemeat, thc Note shall continue in fidl force and effect in accordance with its terms, conditions, covenants and provi~om,:all of which are h~,eby r~Tmned in their entirety ~xcept as supplemented or modified hereby. 3. Ten'as not detlned in this Suppl~m~t shall have ~e ~ ~ to ~ ~ ~e Note. 4. ~~ ~ ~d ~ ~ fobs: Eff~tJve ~ ~ . /~[o , the interest rate ~ticabte ~r the Note shaft ~ i~r~s~ to t~ Wime~ the due execution of this Supplement to Line of Credit Prom~oB, Note~ under S~I stol INrmqDING TO BE I~._ AIrY BOUND I'I~R~B,)~ en. the day and year first above By: COMMONWBALTH OF PENNSYLVANIA ) COUNTY OF c~ ~'o5°~,· t~ ) ' James G Tatnall, Vice President ~ati~factonlypcov~ttohethepea~on vAo~ aam~ /J ~b~b~4tothewfuMnSupl~anenttoU..ofC~tl%~No~ I~ wrrNEss ~F, I he~,enmo ~t my bund and offidal a~ml. Supplement to Line of Credit Promissory Note Page 1 of Date: The provisio~ set forth in thh Supplement constitute add/tional prov/sions or modificatien~ og that certa/n Line of Cred/t Prom/x~ory Note dated J~L¥ 10, 1992 (the #Note ") covering thc obl/gatioas and liabilities of the Unders/gned (the 'BorrowS) to FULTON BANK (the 'Bank"). 1. The prov~on~ of th/s Supplement ~ be deemed to be fully incorporated by rcferenc~ in and shall constitute provis/on~ of the Note as of the date of th/s Supplemeot. 2~ Except as e~p~-e~sly supplemented or modified by this Supplement, the Note shall continue in full force and effect in accordance with it~ term~ condt/ons, covanant~ and provh/o~, ail of which are hereby reafli_rmed in thdr eot/rety except as ~pplemented or mod/fled hereby. 3. Terms not defined in ~ Supplement ~ have the meanings ascnt~ed to them in the Note. 4. Borrowar ~ covenant~ and agree~ as follows: Wimeam the due execot/en of ~ Supplement to Line of Cred{t l'romisso~/ Note, unde~ Scol and INI]~ID]NG TO BE LEGALLY BOUND HER{ii{Y, en thc day and year first above COMMONWEALTH OF I'ENNSYLVANIA ) )SS: COUNTY OF ~ ) Elmer J. Slas~m~n who acknowledged himself to be the President of Refr/geration Specialist, Inc. a corporation and that he as such President being authorized to do so, executed the foregoing instrt~ent for the purpose therein contained by si~nir~ the m~ of the corporation by himself as President. Supplement to Line of Credit Promissory Note Page 1 of 3_ Date: The provisions ~ot forth in this Supplement constitute additional provision~ or modificatior~ of that certain Line of Credit Promi~ory Note dated DRC~,N~RR 26. 3.99 1 (the 'Note ') covering the obligation~ and linbilitie~ of the Unden'dgned (the 'Borrowe~) to FULTON ~ (the 'Bank'). 1. The p~ovi~'ons of ~ Supplement shall be deemed to be fully incorl~orated by reference in and shall constitute provi~ons of the Note as of the date of this Supplement. 2. ~xc.~pt as e~re~y supplemented or modified by th~ Supplement, the Note shall continue in full forc~ and effect in accordanc~ with it~ terms, condition~ ~=ovenants end pro.ions, all of which are here. by renfl~med in their entirety e~cept as suppl~rnented or mo~ted hereby. 3. Terms not da~nod i~ ~ Supplement ~ have the meaning~ aso~'bed to them in the Note. 4. Borrowor horeby covenent~ and n~ree? as follows: The #otc is nme~ded to {ncre~e the [~inci~t St~ evidenced by the #otc fr~m $$0000.00 to $~000o00. Witne~ the dae ez.~:ution of ~ Supplement to ~ of Credit P~onfls~ Not~, under Senl and I~i'I~NDI~G TO BE ny: ~'u~.TON BANK ' Bastik, . , qUARANTY (ALL LL~B)LmES) . · ~ C~, hm ~ into ~ Ou~ ~d ~ ~ ~ to m~e ~le ~ m~ ~ =~ f~ ~ ~ ~H~ on t~ Gu~. L DEFINI~ONS- ~ h~ein the foH~ t~s shall ha~ the m~o that foH~ ~ to ~ from ~, wh~h~ a~ute ~ ~m~ ~ or ~, j~ ~ ~ ~ h~ or to ~ h~d ~ ~ f~ i~ ~ ~t or ~ ~t for ~t~ ~ ~h~ ~d ~ ff n~ ~ ~ of ~t ~at~" m~ ~ ~ ~d ~n~ p~, ~le ~ ~1~ of ~ ~ m ~ fo~ ~ ~ ~t~ ~t~ mo~ or mh~ ~ ~en~ or ~m~ ~ to ~ n ~d~ ~t~ to ~re ~ Gu~ ~ ~ ~b~i~ ~ the Un~ ~ ~ aH pr~ of ~ nature whet~ of the Un~ n~ or he~er in the ~ of m ~ ~ ~ to ~ for ~ ~ ~d ~ ~ ~ ~ ~ to t~ U~ of ~ ~ ~ m ~ ~ ~th ~ and ath~ ~nM ~ ~ ~ ~g ~ ~e to ~ ~ ~ to ~ Un~. W~t ~ t~ ~ ~ t~ fo~ ~e ~m~ ~ ~ ~rt~ ~l~t 116-I~ 4th Strut. N~ C~rt~. ,~ C~rl~ T~lp. C~rl~ ~ty. 2. CONTINUING SURE-IY OBLIGATION - The Unde~ does hereby uncondittoanlly gnmanten, and become surety to Bank for the full nad prompt payment when due, whether by acceleration or other/isa, and at nil thnes thereafter, nf nil the I. Inbllitles. This Guaranty is a continuing one and shah be effective and binding on the Unde~gned regard~e~ of how long before or nflor the date hereof any of Borrower's Liabifltior were or are incurred. Notwitimnading the foregoing, any one of the Unden/gned may at any time not le~ than 365 from esecutinn of this Guaranty, give valttna notice to Bank of such Undoes intention to temdnato pre~ ti~]r sure~ o~llgafid~on ' for Bomm, er's UabRlilns pursuant to this Guaranty. Any notice so given shall be effeaive with re~ect to Borrev~r's Liabilities inconed after recei~ by Bank of the written notice, but shall not be effective with respe~ to, nor terminate the Undoes linbflity for, Linbllitior which me renon~is, eatendons or mo~/ications of es~ liabilities or Liabilities es to which Bank is then bound by ngn~ment or commitment to thereafter extend. The Undor~ed gnamntees that aH payments and recove~ of collateral (includin& bet not limited to, the Collnte~ applied by Bank to the Liabilities will, when made, or when so appUed, be Final and not recoverable in any insolvency or bnakauptcy pro~ and agrees that if any ~menot applied to the Liabilities is recovered from, or repaid by, Bank in whole or in prat in m~' bank~'uptcy, insolvency or similar pro~ instituted by or against Borrower, the obligation of the Undated shah continue to be ful/y npplicabin Io the amount so repaid or recovered to the same ex~ot ns though the mnount recovered or repaid had never been nppfied with req~e~ to the Llabflitier. The Undersigned hereby grants to Bank a. uthorJ~ to nmintnln of recor~ and to record, documents necessacy to pe~ect or to continue Bank's perfected interest in tho CoUoteral until such tune ns Bank is satisfied in its sole discretion that tt no longer hes exposure to d/,~,orgement tight.of Bank to conflou.e its perfected interest in the Collateral is for its sole benefit, and the Undersigned shall not be refleved of FersonTt~ liability for Borrower's Liabilities because Bank el?ts nat to continue an interest in the Collateral. 3. AoMOUNT OF LIABILITY. The amount ~f the Unde~s liability hereunder shall be limited to the maximum principal sum of $. UNL~V',.~T]~D ,plus interestaccreed thereon. Ifnoinsertionhasheennmdeinthaprecedingspace,theamenntof the Undoes linbllity hereunder shah be UNLIMITED. · . .. If the amount of the Understgned's linb~ty hereunder is here/n limited, the Undersigned ngrnss that the amount of Borrower's Liabilities may from time to time esceed the Undt of the Unders~ned's liability herannder without in any way affecting or ~ the obUgafion of the Undated, and that Bank may apply any imymnat by or on behalf of Borrower w~th respect to Borrower's Liabilities to or en account of such of Borrower's Linblillles nad in such order ns Bank may elect. 4. UNCONDITIONAL · · . in any way by reason L[A]~ILITY. The Uabllity of the Unders/ped hereunder is absolute end unconditional and shall not he nifected of (al nay failure to retain or prees~e, or the lach of p~or enforcement of, penon or persons (including Borrower and any oth~ surety or llunrantor) or in nay judgmnat or other Hght~ against any any propeay, Co) the invalidity or unavailability of any such judgmcot or ot her tlghts whlch may he at~c~,l';-cd to be ob~dned, (c) any deiny in enforcing or failure to enfot, ce su ~ights ere therabY inat, or (d) nay delay in mnktn~ demand on the ~ ~..~..., ....... any ch rights even if such hereunder. ~ vo~u tor penormance or payranat or the Undersigned's obligations S W'AIV~RS The Undersigned hereby wn~es all notic~ of any character whet~ever with respect Io this Gnarenty and liabilities to Bank, including but not being limited to notice: of the acceptance hereof and rellnace hereon, of the present existence or future incurring of any of the Bon~ver's Linbi~ttns to Bank, of the amount, terms and conditions thereof, and of any defaults thereon. The Undersigned hereby con~.-nts to the taking of, or failure to take from time to time without notice to the Uadersigned, any actina of any nature whatsoevor with respect to the Borrower's Liabilities to Bank and with respe~ to any rights nRainst nay parann or peranns (indu ' Borrow~ or of the ~u~! o~. in ~ property, including bet not berg limited ,o ~ ren-c'w~is, e~tan, slons~ mod~ficatin ding any . forego~ pro~ded, however, that the granting of a relense of the liability hereunder of le~ than aH of the Undated shah be effective with resl~Ct to the liability hereunder of the one or more Unde~igned who hereunder of any of the Unders~ned not specifically s~qcaHy released, bet shall in no w'ay affect the liability liability hereunder of any other of the Under, ed` released. The death or incapacity of any of the Under~ sludl in no way affect the The Undersigned hereby waives the benefit of aH inws now or hereafles in effect in any way Umiting or restricting the liability of the Unde~ he~xmder, incindtn~ without limitation, (il ah defenses wbetsoev~ to the Understgned's liability hereunder, except the defense of payments made on account of Borrowers I.Jabllitior to ~ank and the Undeedgned's linbt'lity hereunder and (ii) all right to stay of orecutinn and exemption of proper~ in nay action to enforce the llnbi~ty of the Undersigned hereunder. 6. PAYMENT OF COSTS - In addition to ah paragraph 3 other habt'dty of the Undated hereunder nad notwithstanding the limit, if any, set froth in hereof, the Undated also ngre~ to pay Bank on demand ah corU and expe~ws (including rensonabin attorneys' fees and legal expenses) which may be incurred in the enforcement of the Borrower's Linbllttior or the Uability of the Undordgned llerennder. '7. ACCELERATION OF LIABILITIF_,S _ If any of Bon~mrer'$ Lin~dties to Bank ere not paid when dee or if there occurs n default or ~flt of de[auit Ufld(~' 8~ft~aflts ~inin~ tO n~ of n~--~ · wit . . ~- .... -~ --.~ ~,,~w~ s taaomt~ee, ah Borrower's Lin ' ' ' haut prior notico to the Undersigned he deemed +~ ~-- *-~ ..... bilities to Bank shah at Bank s option and payab purposes of this Guanmty and the liabi~ty of the Undersigned hereunder. As betaken the Undersigned nad Beak, the Liabilities for which the Undersized is sorry hereunder may he declared to be due nad payable for purposes of this Guaranty notwithstanding delay or initiate any such decinration as against Borrower. any stay, injunction or other proin'bitinn which may prevent, 8. DEFAULT- There shall occur a "Defanlt" under this Guaranty if the Undor~gned fails to pay when dee any amount owing hereunder or fails to do or pefl'orm any of its obligations under any documents pertaining to the Collateral. If a Default occurs, Bank may exercise its right of se~olf and may exerc~ any and ah rights and reme~ns against the Undersigned or the Collateral as may be available hereunder, under security end other coHatt~l documents pertain~ to the Collateral, under the Uniform Comme~al Code, or othe~vise. The terms of the security nad other collaterel documents are incorporated herein by rofernace. addition to other remedies of the Bank herana~- with re~ The remedies ~et foah in those other documents shah be in to the indebtedness of the Undersigned, ~ncindln& without limitation, the fight to confess judgment against the Undor~ed at any time, whether or not ~ Defanlt Ires occon~ed. 9. WAIVER OF SUBROGATION -Tbe Undersigned h~oy ir~evorably v~ves any and all ~ght~ the Unde~ed may h~ ~ ~ ~e ~wh~h~ ~ ~ ~ ~d~, ~ o~i~ of I~ or ~ ~) to ~ ~ ~ ~ ~ on ~t ~ ~ ~ un~r tMs Gu~n~ ~du~ ~th~t ~tinn, ~ ~d ~ ~ts of m~fl~ r~ ~o~ ~nm~ofl ~ ~. 10. ~ER GU~ A ~u~t ~ent of ~r~p ~ ~a~ ~ the Und~ or ~ ~ ~r ~ n~ be d~ to ~ ~ ~ of ~ to m~ ~ t~to t~ Gu~ ~t ~ ~ ~ ~ ~ a~tion~ ~ m~l~ ~ of ~r~ or ~ ~ ~ ~ p~ ~; nd ~ ~e ~t the Ufl~ OF ~ ~ O~ ~ ~ tO the ~nt of ~r~, ~d n~ to be ~ H~ ~ or to t~e ~ m~ p~ ~t of mr~ ~ ~ ~ ~ M pr~ h~. 11. MISCELLANEOU~- if the Undersigned consists of more than one per,on, such persons shall be jointly and severally liable hereunder. This Guaranty shall inure to the benefit of the Bank, its successors, essigm, e~doresrs and any person or persons, including any banking institution or institutions, to whom the Bank may ~'ant any interest in Borrower's L~abflities, or any of them; and shall be binding upon the Undersigned and the Undsvggned's heirs, eaorutor~ administmtor~ ·uccc·om, ~ and other legal representatives. The Undess~ intends this to be s sealed inmumant and to be legally bound hereby. All issues arising hereunder shall be governed by the law of Pannsylva~a. The following pamgcoph sets forth · warrant of attorney to confess Judgment ·gnlnst the Undsr~ig~ed. la Kmntlng this earmnl of attorney to c~nfess Judgment agMnst the Undersigned, the Undersigned hereby knowingJy, intentionally and voluntorlly~ and, vdth ~l~orttmity for the advice of sepncote counsel of th· Unds~ed, unconditionally wMvco any and all rights the Undecol~ned has or may Imv* to prior no~ke and an opportunity for hearing under the respective con~ltuflons and Inws of the United States and the Commonwealth of CONFESSION OF JUDGMENT - EACH OF THE UNDEESIGNED HEREBY AUTHORIZES AND EMPOWERS IRREVOCABLY THE PROTHONOTARY OR ANY CLERK OR ATTORNEY OF ANY COURT OF RECORD TO APPEAR AND TO CONFE~ JUDGMENT AOAINSr THE UNDERSIGNBD OR ANY OHE OR MORE OF THEM IN FAVOR OF THB HOLDER OF THIS GUARANTY AS OrT~ AS NECESSARY UNTIL ALL LIABILfI'II~ OF THE UNDERSIGN]ED F. AVB BEEN PAID IN FULL, AS OF ANY TERM, FOR ALL AMOUNTS OWING ~R OR NOT THEN DUE) UNDER THIS GUARANTY, TOGETHER WITH COSTS OF LEGAL PROCEEDINGS AND A REASONABLE ATTORNEYS' FEE FOR COLLECTION (WHICH FOR PURPOSES OF EXERCISING THIS WAREANT OF ATTORNEY TO CONFESS JUDGMENT SHALL BE DEEMED TO BE EOUAL TO 15 % O F THE SUM OF THE PRINCIPAL PLUS INTEREST FOR WHICH JUDGMENT IS TI. LEN CONFESSED), WITH RELEASE OF ALL EREORS~ WAIVER OF APPF. ALS, AND WITHOUT STAY OF EXECUTION. THE UNDERSIGNED HEREBY WAIVES ALL RELIEF FROM ANY AND ALL APPEAISI~4ENT, STAY OR EXI~d~iiON LAWS OR RULES OF COURT NOW OR WITNESS Wit he,he due e~ecution of thh//~uaranty on the . (SEAL) (SEAL) (SEAL) _(S~U~) !sEAL)