HomeMy WebLinkAbout07-0963IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
SOVEREIGN BANK, successor in interest by merger
to Waypoint Bank, formerly known as Harris Savings
Bank
Plaintiff
vs.
LYNNE C. JOHANSEN
Defendant
TO: CLERK OF COURTS, CIVIL
CUMBERLAND COUNTY
WARRANT
Case No.67 _ Q~
Confession of Judgment
~i v ~ ~,
1~
Pursuant to the authority contained in the Commercial Guaranty, a true and correct copy
of which is attached as Exhibit C to the Complaint filed in this action, I appear for the Defendant
and confess judgment against Defendant in the amount of $47,322.96, which includes interest to
January 12, 2007, plus interest at the rate stated in the Promissory Note, from and including
January 13, 2007, and costs.
LAMM RUBENSTON~~E~~/SAVOY
BUTZ & DAVID L ~~
Zachary . Coh ' e
Attorney
7535 Windsor Dr., Suite 200
Allentown, PA 18195
(610) 706-4300
Appearing for Defendant on
the Confession
356278-1
IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
SOVEREIGN BANK, successor in interest by merger )
to Waypoint Bank, formerly known as Harris Savings )
Bank )
Plaintiff )
vs. )
LYNNE C. JOHANSEN )
Defendant )
Case No.~7-~ (~3 CtV~~
Confession of Judgment
COMPLAINT IN CONFESSION OF JUDGMENT
Plaintiff Sovereign Bank, by and through its legal counsel, Lamm Rubenstone Lesavoy
Butz & David LLC, states the following complaint in confession of judgment:
1. Plaintiff Sovereign Bank is a banking institution with offices at 619 Alexander
Road, Princeton, NJ 08540.
2. Plaintiff is the successor in interest by merger to Waypoint Bank, formerly known
as Harris Savings Bank.
3. Defendant Lynne C. Johansen is an adult individual with a last known address to
Sovereign Bank of 102 Limestone Drive, Camp Hill, Pennsylvania.
4. In order to document a commercial loan, Market Street Music, Inc. executed a
Promissory Note in Plaintiff s favor dated November 6, 1998 in the amount of $40,000.00 (the
"Note"). A true and correct copy of the Note is attached hereto, made a part hereof, and marked
as Exhibit A.
356278-1
5. The loan is also documented by, inter alia, a Business Loan Agreement executed
in tandem with the Note. A true and correct copy of the Business Loan Agreement is attached
hereto, made a part hereof, and marked as Exhibit B.
6. As security for the loan evidenced by the Note, Defendant became an unlimited
surety of the loan evidenced by the Note by executing a commercial guaranty (the "Guaranty")
A true and correct copy of the Guaranty is attached hereto, made a part hereof, and marked as
Exhibit C.
7. Defendant is in default of her obligations under the Guaranty for failing to make
required payments when due.
8. The Guaranty has a confession of judgment clause which has not yet been
exercised and judgment thereon has not been entered.
9. The Note and Guaranty provide that upon default, Plaintiff is permitted to
accelerate the Note and enter judgment without demand or prior notice.
10. The Note and confession of judgment clause in the Guaranty provide that upon
default, Plaintiff is entitled to collect an attorney's fee of $500 or ten percent (10%) of the unpaid
principal balance and accrued interest due under the Note, whichever is greater.
11. Ten percent of the principal and interest due under the Note ($4,274.17) is a
reasonable figure for attorney's fees, expenses and costs to be incurred in this matter and in
liquidating Plaintiff s collateral.
356278-1
12. After credit for all partial payments made, the full amount due to Plaintiff under
the Note and Guaranty is as follows, plus accruing interest:
Principal: $ 39 970.08
Interest to 1/12/07: $ 2,771.71
Late Fees $ 307.00
Attorney's fees: 4 274.17
TOTAL AS OF 1/12/07 $ 47,322.96
*per diem = $10.83
13. Plaintiff has not assigned its interests in the Note, the Guaranty, or the obligation
they secure.
14. Judgment is not being entered against a natural person in connection with a
consumer transaction.
WHEREFORE, Plaintiff demands the entry of judgment against Defendant in the
amount of $47,322.96 (which includes interest through January 12, 2007), plus (A) additional
interest at the rate stated in the Note from and including January 13, 2007 and (B) costs.
LAMM RUBENSTONE LESA
BUTZ & DAVID LLC /
Zachary J. ohen, Esq~/
Attorney N 1119
7535 Windsor Drive, Suite 200
Allentown, PA 18195
(610) 706-4300
Attorneys for Sovereign Bank, successor in interest
by merger to Waypoint Bank, formerly known as
Harris Savings Bank
356278-1
VERIFICATION
I, John Giangrossi, hereby state and verify that I am an Assistant Vice President of
Sovereign Bank, successor in interest by merger to Waypoint Bank, formerly known as Harris
Savings Bank; that I am authorized to take this verification on behalf of said organization; and
that the facts set forth in the foregoing Complaint are true and correct to the best of my
knowledge, information and belief.
I understand that false statements herein are made subject to the penalties of 18 Pa.S.C.
§4904 relating to unsworn falsification to authorities.
Date: ~ , 2007 _.
e: Jo grossi
itle: Assistant Vice President
356278-1
~ti,d,+~
r-~xxlS
SAVIl+iGS
PROMF8SOR'
4.,.
Prino[pal Amount: ~' ~ i'nRisl Hate: 9.60096 Date of Note: November ~9, 1998 .
PROMISE TO PAY. 'Matlcet Iltnset • ~ ~ proms ~ ~ ~ Ftsrtls ~~ ~~ .
~ nsy o! ftN tJeNNd of /Yneripaj' .. . tlt• amormt of Forty Tt>ntulq~d ai 00!'100'Oollses (540 Jaxifui
outsl>fardb~p, toQslMr will} tnterast on the unpaid outaten~rrp prlnotpal beprrras of eaoh advara:e. Interest sheu be',;dOWrated trorri:$re date'
of each advarum untn rsp~yttreM• of saoh advanoa,
PAYMENT. Dorrprrar w9i •pay tWs best bnnredlately upon Lenders dsnlerrd. In addttlon, dorras-er tiifq ; p~- r!tWl~ •
a~sued unptld tatsrsp dw as at slaotr paymerr: date, beDbtMnQ Dunbar 1, tY00, wBh an ~~ ~.'~ alt.. ; ;
aaoee day of each month otter that. The annwl )merest rasa tar ttda Note ~ ~. ~ be due bn •the ~ ".'
iniecat nbs over s year of 3e0 computed on a ~SJ3AG«d~that;is; tiy- • theriifb ot"the•annual ; „
by ~ oulstandirrp prlnc~l baMncs. mtdnpNed tty- ttte acWtl, qua .
a appllagbis iew, PaYmente• vAC ehoum above ar at each other piece as Lander `' d~tlpr~le~,in~,vv~ttq. Ur~e~s'dhenMse,' • . ,
unpaid oogeotlon cote and late oharpos. applied first ro accrued unpaid' Interest, tMn to pt gtpatp Ind eny..ramdlrNnR ain'o~tnt to anjr'
KARIABLE INTERLST RATE The lnfernt rate on this Note b subject to otrarps 8om time ro••nn» bawd oil ~ ' •...
Prhns Rabe (the "index"). This i< the rate Lender otuuDes, or would charge, on ffi a[!: fndluc.whbti•~drtiler's
Ttds rate m4Y a may not bs the lowed rate avallabffi }torn Lander at ~ uneecund loans ro ttti moat ~ oo~~ , • {~~, .
request Borroviier underetrtnds ttra~ Leader ~ ~ lima. tender wit beU'Barrowpr tfis ~a4rcnrd lediei rate upon Bo'roWer's ' .
each Day. Tha Indett Darren N e.O110% ~Y rtwke bate boast} on ottrer rates as wet. The irdirest pNe'otraape v~ riot occur mots often than
Hate of 1•.600 ~ ~ T-~ ~~ rite to ba applied ro ~e unpaid principal balerrae of fMs NoU win be ate •
rate on thin NoteP~P tptroarr ~~ nb ~dtlnp in an INne1 rats of ti.6D0% per annum. N017C!« Under no airourrr~noes wi6 the tnte-est
- by applicable ffiw• .
Fb-RYMENT. Borrower may pajr without Pena~y alt or a portlon of the amount owed earBer than 4 Is due. Early ppaaymenffi w41 not, urdess agreed to
P wr~p~reAeve Borrower of Borrower`s obiiDatlon to oon6nus to make paymenffi of accrued unpaid lobensd, Pattrer,.they wB nsduce the
LATE. CIiARpL. It a rogularly sohedtAed interest payment is 16 days or more late, Borrower wwb be charyed 6A00'lG of the nDulsrfy scheduled
payatsM or 4"to.00,,whidrwer !s pntdst, IL•Lender denuutds payment of ttda idea. and Borrower does not pay the•loan rrlthin 16 days aRer
~~~ oho wiq be oherped either 6.000% o! the sum o! the unpaid .prhu~pd plus actxwd urrpald Inte!rost a~ ilotto, .
LENDER'S REt3HT8. Lander may hire or pay someor-e else ro'hetp ooGect this Nate 6 Borrower does not pay. Sairovveraiso. wAl pay Larider'thaf ,
amount This broludea, aubjeot ro any akrdbs under appAoable law, Lender's aftomeys' tees and Lenders lapel. expense: wt>sther or r~ tFiore is e •
lawsuit, IndudlnD attorneys' tees end Iapai mcpenaea {~ troy proaedirt~ t~u~ eftorB ro ~mod6y or vacate' any au~rieno alley a injaiioNon},
appiak, and any arrtfoipatad poayudpment coNectlon eervioes. If nbt profdblted by appAcabie kw, Borrowr`r•affio wql
ro aN ether eums'providsd by few. Ii judgnmrrt is anNrad in mnneeUon wNh this Note, intersstwiq oonnnue t0 accrue an ~~ohi;aflar~uffi~makttat the
irtfenset rats aPPOoabls to this Note att,.~:.11i18R• nt, ffi enberod. Tills Nob has been de1lvered ro Lender rind aoospESd ~ ~ , n e ,. ,
fbmrrrornrerdfif of Penrrsylvarda: It than is•a letn;'EtBt•~uvsr~~aprees~uporrtCsrrdars, ,
DauPhffi~~OUnlyryr~he'~0ommornrsdlh~s+f~ne>ayhrmW. Lender end BorroMnr trsnby a-we~~~~'t- to fury action- procsedlrrg,,
or oourrteroMhn broltpht by W@rer' ~~ ~ gpRpw~ ~ odrsr. This Note shdt be Doverrred by and eAnatnilid ti aooordanoe with
the litws ot•tirs frbrrmronwedlh of Pennsyivanle. .
RiGt•[F OF SETOFF. Borrower Dranffi b Lender a'mntraotuat security Interost in, and tnregy assigns, mmreya, deltvers,•Piedpea, and transfers to
Lender aG Borrciarsr"a riDht, tlGe and inbstest lrt and to, Borrowers accolade w6h Lender (whettrer'cheoWrp, savings, or•sona dttiir aoopuntk~fridudinp.
without Mdtatlon a1 account held jotrrty wihr someone else and aA amounts Borrower may open in the future, exdudinD however a8 iRA and Keogh
~~~'~ and ~ trust amount: fior whbh the Dram of a aeoraity interest would be prohibibssd by law. Borroww• authorizeB Lender, ro the extant
apdrrd by appfloabla law, b ohuDs or setoff a4 sums owing on lhffi Noffi agekrst any end aA such aooourrffi, end, at Lenders option, .to-
rrlatra6vely freeze all such aocourrffi to allow Lander ro protect Lenders oharDe and setoff rights ptovldsd on this paragraph.
LINE OF CR>:DIT. This Note evidences a nl~dnD Ans of credit Advances ender tide Note may bs requseffid oraAy by Borrower or by an authorized
person. !.ender may, but need not, nsqulre that alt. oral requssls• be mntinrrsd !n wrfnnD. Ap commuNcm6oas, Inatnrogons, or r~rsonons by telephone, or
otherwise to Lender are to bs, d4ecbed b Lender's offiw shown above The }dlowinp PAY or ~~ an authortz~fd'
of oredg txrlp finder reooives from Borrower at Lenders address shown above wrlfien notice of revocaticn of thbii-~ ~~~~ line
James E Johansen. Borrower aDrres ro be t4bie for alt swrrs either: s advanced in o~ Phlllp J. Johansen and
credited to any of BorroMrsr's aocourrffi with Lander. The () arlce wf<tt the Inebrucliona ~ an authorl~d person or (b}
on this Noffi or by Lender's tntemai noords indudi unpaid P balarxa, owir~ on ttds Note at any 6rrre may tae evidsnoed by endorsements
(e) Borroww or ' ~ ~' oo~~ prf~ooffi. Lendec vrEl have no •obUgatbn to advance funds under tide. Note if:
any guarantor ffi in default under the terms of tills Note or any aDresment that eorrovwr or any guarantor has wflh Lender, inducting any
agreemanF made in oonnectton with the signinD of this Note; (b) Borrower or any guarantor aces doing bualn~s a ffi Irrsotverrt; (o) any guarantor
seeks' dalrrts or othenrrlse attenrpffi ro Ifrrdt, modify or revoke such guarantor's guarantee of this Note or arty other loan with Lender; (d) Borrower has
applied funds prov)chd pursuant to this Nota for pwp~es•ottr~ than those authorized by Lender, or (e) Lender In good faNh deems Nseif insecur®
uncter this Note or any other aDreemerrt between Lender and Borrower. .
ANWtiAL AE1/fEW. The loan cbrttmitrtwnt wIR ezpGe on Apr! 30, 1999. The Lender wiq review the Loan annually for renewals and eoctensiora;; such
renewals anp ~ naions to be granted ~adicabd on thA parformar~ca of the cones and/or individuals and adh~enoe to the t.~n A®reement
and/or loan o
SECt1RITY. Ap oopaterel (es herein defined) Is security for lids Note and arty renewals, extensions and mod6loatlons tharecf, and the payment,
DofTDNOC: •,... ....
:', ~ 1:,` `~i (i71Y: L.encfer: flarrfs 8evbrQs
• ~ , . 234 N. ilecond BMat
' P O ear 1711
IM(4!q~~t~a!~!~,~f$ - Nerrbbura PA 17106 .. ,.
~~-os-799 PROMISSORY NOTE • ~. p~~ 2
loan No 88770006b4 (Continuer .
performtnoel and dbahar0e of a8 other prasaM or Tobin indebtedrleae, oblipatkuls and underbtdrps (whether ~, l~f. ~~
cordinpent ar otiferwbe) of the Borrower b or tar the trerreE of Lender. whether arbkp directly to L~ trader fhls Note or under arr7r otter .
a0t' P~niaary acts a underbkirge -now+ ~~ or herWntNr erltersd lrtto try Borrower b Lender. The term 'Ca6brar kbhrdet a/ tari0lble
and kttanp8rte Properly (q dssalbed in any mor~pe, asetpnment or any atllsr secur2y dooumsrtt separatNy exeoubd by the Borrower in hvor of
Lender. and (~ in whloh Btxrower has prartbd a eeourtty interest to Lender putstntnt to deb Nldte.
(~FIERAL. PROYI81tS~. !.ender may deby or far0o-entoroln0 any of ib ri0hta,~ remsdbs under Zktb Nob without ioeln titsin.
other person who stOrek ywranbes a endorse tNs Nob. to file errbnt allowed by law, 0 eoranvwr and any
dbitonQ: Upon any atftrlQe in tM bane Ot this Nab, and U(IleBe oBterNrbe erq~resaly atated kl~~n~~ demand fOr Ray~M~r f and nC9Ce' of
QuarantOr, af~comnada0on maker ar endorser, shall Ire rebesed from ~ n0 party who signs tlrb Notit, WhNher ati maker,
tar any Nrgth Of tine) Uds kren, ar release ~ '~ ~ agree that LN1der may retNtN Or elXlerrd (rl~edady and
.cdtatetai; and take any other cotton deemed ~ P!~ ~ Ouerantor tx ootabr9l;'or I , hi b reaAse upon w perfect Lenders seolrr0y Inbnq in the
may nrodily this loan wAhout the consent of or n~ ~ Wider wNhout the consent of or no6oe to anyone. N such pestles ~ a0ree that Lander
la• any reaon doff fminsd to be urrert a^y°ns ~ than the party with whom thb modNketion b madoe ~ If arty pot'9on of thls Nob b
.. foroeabb, R wt11 not tiflect ihs sefarceelbNity of any other pravidons t# thb Nob.
~ ~ `I[ux~lu~NT SEER HERt~Y IRREVOCABLY AUTHORI~S AND EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY
OR CLERK OF ANY COURT IN TFIE COMMONWEALTH OF PENNSYLVANL4, OR QSEWHERE, TO APt'EAR AT MIY THE FOq t?rORRONiER A}~R
A L)EFALfl.T UNDER THIS NOTE, AND WITH OR WITHOUT COMPLAINT FILED, AS• OF ANY TERM, CONFESS OR ENTt3t JUDGMENT" AGAINST
90AROWER FOR THE ENTIRE PRINCIPAL BALANCI: OF THIS NOTE, ALL ACCRUED INTEREST. LATE CHARGES; AND ANY AND ALL AMOUNTS
EXPENDED OR ADVANCED BY l.ENDtS:t RELATING TO ANY COL•IATERAL SECURING THIS NOTE TOGETHER ,VlfITH. It1[T'E,~ST ON ..SUCH
AMOUNTS, TOGETHER WETH COSTS OF ,SUIT, AND.AN ATTORNEY"3 COMMISStON~ OF TEN PI:RC@NT`(10%) ~F.Tf~ UNPAID P.RINC{PAL.
BALA~•AND ACCRUI:D• INTEREST. Ft~}`C011fCT10(~t;••gUT.IN'ANY EVEKT NOT LESS THAN FIVE. HUNDI;I~! pOLI,gRg (app)) ON WHlCti
JU04MEM1Cr OR JlAGta+IENTS ONE OR hIORE EXECl1T10N3 MAY 13.4.11E IMMl~WTELY; AND FOR SO DOING, THIS'NOT.E OR A. C1aPY• OF THIS
ryO~L'"VERIFIED 6Y AFFIDAVIT SFt4LL BE SUFFlgO~IT'WAARIWT;:' THE AUTHORITY GRANTED•IN•THtB NO'(E TO CONFESS JUDGMENT
AQAIN$T BORROWER SHALL NOT BE EXHAUSTED BY ANY EXERCISE OF THAT AlIRiORRY, BUT SFUILL CONTINUE IrROp9 ~~E . fp TIIY~ AND
AT ALL TIMES UNTIL, PAYMENT IN. FULL OF ALL AMOUNTS DUE IUVDER THIB NOTE. BORROWER F'ft?iEeY WAfVES ANY RIGHT BOFIFTOVyER .
MAY fiAVB TO NOTICE OR TO A .WEAI:iWO `IN CONNECTION WITH ANY SUCH CONFESSION OF JuDCiMENT, EXCEPT AAIY NOTICE AND/Oa
HEIV31N0 REOUIFitD UNDER APPLICABLE LAW WITH RESPECT. TO FD(ECUTION OF THE JUOtiMiMENT, AND STATER THAT EITHF.A . A.
REPRt:~f11TATtVE OF LENDER•SPECIFICAI.L,Y CALLtD.THiS CONFESSION OF JUDGMENT PROVISION TO B~tROWEp~:ATPEN1TOfV.pR
BORAQWER FL4S BEEN.'REPgESENl'Ep BY.INDEPEImENT..LEGAL COlJN8B.. THE LIEN ARI8lNti 14aOM ANY JUDGMENT CONFESSED OR
TFIAT TERMP IS DEFINED THE PENN3IR.VANIAJANU,gpY 30,1g/~4 pA. LAW313, NO.6}, REFERpEp Tp -,OpN INTEREST AID
PAOTECTiON LAW, AS AMENDED, AND TFE HOLDER OF ANY JUDGMENT CONFE8~D OA ENTEREp PURSUANT TO THE FORGOING
AUTHORITY SHALL NOT, IN ENFORCEMENT OF ANY SUCH JUDGMENT, D(ECUTE, LEVY OR OTHERWISE PROCEED AGAINST ANY SUCH
RESIDENTGU. REAL PROPERTY; PROVIDED, HOWEVER, THAT THE LIEN OF SUCH JUDGMENT 8Hi411 t7CTEND TO SUCH RE3IDENTU4L REAL
PROPtB~'TY AND THAT THE HOLDER '11•EREOF SHALL 8E NERMI'ITED TO EXECUTE, LEVY OR PROCEED AGAINST SUCH REStDEtVT1Al REAL
PROPERTY FROM. AND AFTER 'THE ENTRY OF A JUDGMENT AS CONTEMPLATED BY SECt10N 407 OF SUCH t.OAN INTEREST AND
PROTECTION I.AW AND RULES 2964 TO 2988 OF THE PENNSYLVANUI RULES OF CML PROCt~IJRE, OR St1CCE440R OR SIMILAR STATUTES
AND.RU.ES. NO LIMTfATiON OF LtENOR ANY DCECt3i.TON, LEVY OR OTt$fi ENF10R(~MENT CONTAINS IN THE tMMED1ATEL•Y PRECEDINCa
SENTENCE SHALL APPLY WITH RESPECT TO ANY JUDGMENT OBTAINED OTIiER THAN BY TtiE FOREGOING AUTHORITY TO CONFESS OR
ENT's JUDGMENT.
Pp10R TO SIGNING THtB NOTE, BORROWER REAP AND LA~IDERSTOOD ALL THE PROVISIONS Of THlB NOTE, INCi.UDINp THE VARIABLE
INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE AND•ACKNOWLED `GEg RECEIPT OF A COIIAPI.ETED
tAPY OF THE NOTE - - .
THIS NOTE HAS BEEN SIGNED AND SEALED BY TI•E UNDtA81QNl~
BORROWER: .
Mttrlaet Str~et7~, lncor~ratsd,. '
Bf-' lk )
,LENDER: ~ ..
Nettie Sevlnps Berl . .
•
Authorized OtOcer
~r E Jofronsen, 'Freess~ar
• 'n. Sarrt;;olr~ .
Nubble Rita t.ttN of OrodIL LABEp PRO, p1¢ U.S, Pit. i T.M. Oft„ VR: 0.ati ~6)1 oG! CFI P109M1106t, lea, Alf Nphtt rnerv~d. IPA-n~a MARKET.LN C1,OVLI •
~ ~H1~RRIS'c
SAVINGS BANK
borrower: Market Street Music, • Incorporated • (TIN: Lender: Hauls 8avlnpa Bank
•25-1791422) 294 N. Second Strsat
19 E MaM 8t. ~ P O Box 1'11 ' .
• Med!rmiceburp, PA 1.7Qti5 HerrfsMs~p, PA 17105
7'HI8 BUSINESS LOpN AGREEMEN'i' between Market Street Musk, Incorporated ("Borrower") and Harris Savings BarYc ("Lendsrq is made
and ~ubd Oe the following terms and oonditlona • Borrower lies received prior comnfercie! loans Iran Lender a' tree applied to Lender for
e comnterdal loan or ks'ms.end other Manctal•accommodaflons, Irtcluding those which may be descAbsd on any socfttbit or schs~tts attached
. to this AgreerneM. Ap such bans and flnandd accommodations, together with all tutors bans coil flnar~.aoaommodatbns irom Lender to
Borrower, are referred to lm tide Agreement Individuelty ss the "Loam" end ooilecflvsly ab the "toms." Borrower untlerstands artd sprees that:
(a) to prmflnp, ronewlnp, or sodsmdinp any Caen, tender is relying upon Borrowers reprssaitatbns; wammitea, acrd apreetnp~h, asset tarth
In fltlis Aprasmsnh (b) the granting, remewinp, or extending of amyLom by Lender~at all times shall be subject to Lenders sole judgment and
dlaeretbn; and (c) ati soil! Laws shill be and shall re'nratn subject to flee fallowing terms and eondtflons of fhb Aproemant
TERM. Ttrls Agreemen! shell:be effective as of November 6,1898,-and shall conrinue hhereaftcr until all Iadebtedness.of~BOrrower to !.ender has been
perlomrsd in fuB and the partiea;terminate this Agreement ih wriing:
DEFINITIONS. The foAowing'words steal! have the following meanings when used in this Agroemsnt. Terms not otherwise defined in this Agreement
shell have the meanings attributed to such terms in the Uniform Commercial Code. AB re(erenr~s to dollar amounts stral{ mean amounts in Iawtui
money of the United States of America.
Apreement.~. The word "Agrperrrent" means this Business Loan Agreement, as, this Business Loan Agreement may be amended or modMled from
time b time, together with all exhibits and schedules attached to this Business Loan Agreement from time to time.
Borrower. The word "Borrower" means Market Street Music, Incorporated. The word "Bonnwer" also Includes, as applicable, e8 subsidiaries and
affiBaEe,S of Borrower as provided below ih the paragraph titled "Subsidiaries and Affiliates." .
CERl1A. The word "CERCLA" means the Comprehensive Environmental Response, Compensation, and Liability Act of t98Q,_as amended.
Collateral. The ward "Cofiateral" means and irxtiudes without limitation ail property and assets 8rarrted as cdlatera! security for a Loan, whether
~ or Pa~nd Pr'aPertY. whether granted direcriy or indirectly, whether granted now or in the future, and whether prar~d 1a the form of a security
interest, mortgage, deed of trust, assignment, pledge, chattel mortgage,. chattel trust, factor's Ilan, equipment !coat; -corrditio~rral-sale, crust receipt,
lien, charge, Ben or lifts retentlon contract, lease or.consignment intended as a securiy devbe, or any other seeurtty or fien interest whatsoever,
whether created by law, contract, or otherwise.
ERISA. 'The ward'!=A1SA" means the Employee Retirement Income Security Act of 1974, as amended.
Event of Default. The words "Event of Default" mean acid lndude without limitation any of the Events of Default set forth below in the section titled
"EVEIJTS OF DEFAULT'
Grantor. The word "Grantor' means and includes wfitsout limitation each and all of the persons or entities granting a Security interest in any
CoAateral for the Indebtedness, inducting without limitation all Borrowers granting such a Security Interest
Guarantor. The word "Guarantor" means and Includes without Bmitarion each and all of the guarantors, sureries, and accommodation parties it
connection with any Indebtedness.
lnckbtedness. The wad 9ndebtedness" means and indudes without•Bmltatiort 9!i Loans, together with all other obligations, debts end Ilabiliti~
of Borrower to Lender, or any one or mars of them, as-well as all daims by !.ender against Borrower, or any one- or more ~ them; whether now or
hereafter existing, voluntary or irwduntary, due or not due, absolute ar contingent, Bquidated or unfiquidated; whetter Borrower may be liable
individually or jointly with others; whether Borrower may be obligated as a guarantor, surety, or otherwise; whettrer recovery upon such
Indebtedness may be or.h'ereafta may become barred by any statute of limftatlons; and.whether such Indebtedness may be or here6titer may
become otherwise unenforceable.
!.ender. The word'Lerrder' means Harris Savings Bank, its successes and assigns. .
Loan. The word 'Loan" or "Loans" means and includes without limitation any and ell commercial loans and finandat accommodations iron
Lender to Borrower, whether now or hereafter e>asting, and 'however evidenced, Inducting without limitation those loans and finanda
accommodations described herein or described on any. exhibit cr schedule attached to this Agreement from time to time.
Note. The word 'Note" means and includes without limitation Borrower's promissory note or notes, if any, evidencing Borrowers Loan obligation;
in favor of Lender, as well as arty substitute, replacement or refinandng note or notes therefor.
Permitted Liens. The words "Permitted Liens" mean: (a) (lens and security Interests securing Indebtedness owed -by Borrower to •Lender; (b
(lens for taxes, essessmenls, or similar charges either not yet due or being contested in good faith; (c) pens of materlalmen, .mechanics
warehousemen, or carriers, or other like liens arising in the.ordinary course of business and securing obligations which are not yet delinquent; (d
purchase money Bens or purchase money security interests upon or in any property acquired or held by Borrower In the ordinary course a
business. to secure indebtedness outstanding on the date of this Agreement or permitted to be incurred under the paragraph of this Agreemen
titled "indebtedness end Liens"; (e) Bens and security interests which, as of the date of this Agreement,-Have been disclosed to and approved b;
the Lender in writing; and (f} those liens and security interests which in the aggregate ransritute an immaterial and insignificant monetary amoun
with respect to the net value of Borrowers assets.
Related Documents. The words "Related Documents" mean and include without limitation a8 promissory notes, credit agreements, !oar
agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of true!, and a8 other Instruments, agreements anc
documents, whether now or hereafter existing, executed in connection with the Indebtedness.
Security Agreement. The words "Security Agreement" mean and include without Gmitafion arty agreements, promises,~eovenants, arrangements
understandings or other agreements, whether created by law, contract, or otherwise, evidencing, governing, representing, or creating a Securit;
BUSINESS LOAN AGREEMENT
11-06-1998 BUSINESS LOAN AGREEMENT
Loan No 6877000554 (Conttnueti) •
Page 2
interest.
Security lM~. The words'~ecurity Interest" mean and include without dmiffition arty type of codatera!
charge, mortgage, deed of tnisl, assignment, pledge, chattel mortgage, dtatfel trust, factors den, equ~merrt irust,~condidoratln selsf trust receipt,
. den or fide retention contract, lease or consignment trr~nded as a security devk;e; or any other
created by law, contract, or oTherwffie, s~~Y or ~ Interest whatsoever, whether
SARA. The ward "SARA" means the Supefirnd Amendments and Reauthorization Act of 1886 as now or herea}ter amended
th~NDITAgre~nentPsEhaO~beEs bj~t~Ch moment b~Le~ndars~s~aatisfactton~aU of ithe condiilo~set forth i ~~~~nt Loan Advance under
Documenrts. Agreement and in the Related
Loan Documents. Borrower shat) provide to Lender in form satisfactory to lender the following documents for the Loan: (a) the Note, (b)
SecurHy Agreements. granting. to Lender security Interests. in the Collateral, (c) Finandng Sffitemenffi Perfedirq Lenders Security Interests; (d)
evtderrce of tnsurence as required below; and (e} arty other documents required under,thts Agreement or by Lender or (ffi counsel; including
without dmdation any guAranties desribed belcw,
Borrower's Authortiatlon. Borrower shall have provided in .form and substance satisfactory to Lender properly certifted resolutions. duly
aufhortang the execution and detnrery of this Agreement, the Kota and the Reiagted Documents, and such other authorizations and other
documents and instruments as Lender or ifs counsel, !n their sole discretion, may require,
spedfted inf the Agreement wn~Related poc~rr~~ve: paid to Lender all fees, charges, end ottrer e~enses which are then due and payable as
~ a c~~~ ~~d~~ ~ ~ t~tions and warranties set' forth to this Agreement, in the Related Documents, and in arty;
Agreement are true and cortsct.
No Event of Default. There shed not eodst~ at the time of arty advance a oortddion which would constitute an Event of Defauti under this
Agreement.
REPRESENTATIONS AND •wARRANTiES. Borrower represents and warrants to Lender, as of tiro date of this.Agreement, as of ttro date of each
disbursement of t.oan proceeds, as of the date of any renewal, extension or modiftcation of any Loan, and at ail times any indebtedness exisffi:
Orgenizetion. Borrower ffi e corporation which is duly organized, vaddly exffiting; and in good standing under the laws of the Commortweadh of
Pennsylvania and is validly e~dsting and in good standing in all states in which Borrower is doing business. Borrower has tiro full power and
authority to own tffi properties and to transact the businesses in wh~h it is presentty engaged or presentty proposes to engage. Borrower also ie
duty qualtiled as a foreign corporation and is in good standing to all states in which the facture to so quadfy would have a material adverse effect on
its businesses or financial condition.
Authorization. The execution, dedvery, and performance of this Agreement and ell Related Documents b B
adeiivered or perform~ula y Bcrrower, trove been duly authorized by ad n~essary action by Borrower, do rxrtor requ~Ere tiro consent or executed,
person, rag cry authority or governmental body, and do not conflict with, result to a vitiation of, or constitute a default undaPer~(aj any
provision of ifs articles of incorporation or organization, or bylaws, ~ ern, agreement or other instrument bindin u on Borrower or
governmental regulation; court decree. or order appticabls~to Borrower. g p (b) arty law,
Flnandat Information. Each ftnanc181 statement of Borrower supplied to Lender truly and co let
of the data of the statement, and there has been no material adverse cftange in Borrower's flna~nrf. al~condi~doon subsego~er~ to the d~atl8 of p18 mgt
recent flnandai statement supplied to Lender. Borrower has no material contingent obligations except as disclosed in such flnandal statements.
~ This Agreement corelttutes, and any instrument or agreement required hereunder to be given by Borrower when delivered will
. egal, valid end binding obi'~padcns of Borrower enforceable against Borrower in axordance wfth their respectitre terms,
Properties. Except es contemplated by this Agreement or as previously disclosed in Borowers Bnanctsl statements or in writing to Lender and as
accepted by Lender, end except for property tax dens for taxes not presently due and payable, Borrower owns and has good tide to aU of
Borrowers Properties tree and der of ail Security Interests, and has not executed any security documenffi or flnandng statemenffi relating to such
properties. Ad of Borrowers properties are titled in Borrower's' legal name, and Borrower has not used, or ftled a flnandng statement under, any
other name for at feast the lest flue (5} years.
Naz~dous Substances. The terms "hazardous Waste," '4raZardoua substance," "disposal," 'telease "and "threatened reease," as .used in this
Agreement, shall have the same meanings as set forth to the "CERCLA," "SARA," the Hazardous Materials Trans affition
1801, et seq., tiro Resource Conservation and Recovery Act, 42 U:S.C. Sedfan (3901, et seq., or other P Act, 49 U.S.C. Sedicn
regulations adopted Pursuant to any of the foregoing, Exrropt as disclosed to and adcnow aPPdCabe state orFedaral taws, rules, or
warrants that: (a) During the period of Borrowers ownership of the properties, there has been no use,igeneraon manufa~re~storege,
~~~ ~P~, release or threatened release of arty hazardous waste ~ substance by any Person on, under, about or from any of the
properties: (b} Borrower has no knowledge of, or reason to brileve that there has been ~(q any use, generation, manufactufe.'storege, treatment,
disposal, release, or threatened release of arty hazardous waste or substance on, under, about or from the
oxupanffi of any of the properties, or pi) any actual or threatened I(tigadon or claims of an kind b an Probes by a~ prior owners or
Neither Borrower nor any thnant, contractor, agent or other authorized user of an of the ro y Y y person relating to such matters. (c)
dispose ot, or rel~se any hazardous waste or substance on,' under, about or from a of ~perdes shall ~' ~~~' manufacture, store, treat,
in compliance with all nY Properties; and arty such activity shall be conducted
ordinances. described aboivebiBo owner authorizes Lender a'nd <ffi agents o enter~upo~n~tF~ eiurong wtthout limitatlon those Isws, regulations and
Lender may deem appropriate to determine compliance of the properties with this section of thus to make such tnspecdons and.tesffi as
Lender shall be at Borcowers expense and for Lenders purposes o Agreement. Any inspections or {gists made by
of Lender to Borrower or to any other arson. The dY and shall not be construed to creat@ any responsdrdity or lability on the part
tnvesd afln the P representations and wananties contained herein era based on Borrowers due ddigerxro in
g 9 Properties for hazardous waste and hazardous substances. Borrower hereby (a) releases and waives any future claims against
Lender for Indemnity or contribution in the even! Borrower becomes liable for cleanup or other casffi under any such laws, and b a
indemnify and hold harmless Lender against any and all claims, losses, tiablddes, damages, penalties, and () tl'~s to .
indirectly sustain a< suffer resulting from a breach of this section of the expenses which Lender may directly or
storage, disposal, release or threatened release of a hazardous waste a su~bstar ceron the onsequence of anY use' generation, manufacture,
Agreement, including the obligation to indemnify, shad survive the payment of the' Indebtedness lend the errminadon o~this section d the
Agresment.and shad not be affected by Lenders acqutstdon of any interest in arty of the properties, whether by foreclosure or ath~se.on of this
Litigation and Claims, No litigation, claim, investigation, adminlstretive proceeding or similar action (including those for unpaid taxes} against
Borrower is .pending ar threatened, and no other evert has oxurred which may materially adversely affect Borrowers financial condition ar
properties, ottx~ than dtigadort, claims, or otf events, if any, that have been disclosed to and,adcr
by Lender In writing.
y1-0fi-1998 ~ ~. BUSINESS LOAN AGREEM~ ~ Page 3
Loan No 8877000654 (Continued) -
Taxes. To the best of Borrower's knowledge, aN tax returns and reports of Borrower that are ~ were required to•be fNed, have been tDed, and all
taxes, assessments and other governmental charges have been paid In full, except those presently being ar to be contested by Borrower to cod
faith in the ordinary course of buairress and for which adequate reserves have been provided.. g
Lien Priority.. UNess otherwise previously disclosed to Lander in writing, Borrower has not enireed Into or granted arty Securty Agreements, or
permfl6ed the 1Nirg ~ attachment of arty Security Interests on or affecting arty of the Coflaterel directly or Mdiraclly securing repaymerrt of
Borrowers loan and Note, that would be prior or that may in any way be superior to Lender's SecurRy Interests and rights in and to such
CoNateral.
BlndMg Et'fect. This Agreem~t, the Note, ail Security Agreements directly or indirectty securing repayment of Borrower's Loan and Note and aN
of the Aela~d Documents are binding upon Borrower as wefl•as upon Borrowers su«ressors, representatives and assigns, and are legafly
erdorceabla in accordarxre with their respective terms.
Commerdd Purposes, Borrower intends to use the Loan procreeds solely for business or commercial related purposes.
Employee BeneM Plans.: Each employee. benefit plan: ea. to which Borrower may have any sebiflty compNss in aU mataffal respects with a1i
appYcable requMarrrents of law:and regulations,•and• p) no Reportable~Event nor ProMbtied Transactlon (as defined in ERISA) has ooctirred with
reaped to arty such plan, (ii) Borrower has not withdrawn from arty such plan •or tnitieted steps to do so, (~ no steps have been taken to
terminate arty such plan, and (iv) there are no uMunded IfabiNties other than those previously disclosed to Lender in writing.
Locetiori o! Borrower's Offices and Records. Borrowers piece of business, or Borrower's Chief executive office, ff Borrower has more then one
place of businress, is•located e; 13 E. Main St., Mechanicsburg, PA 17056. Unless Borrower has designated otherwise in writing this bcation is
also the otflce or olticAS where Bon~ower keeps its records concreming the CoNaterel.
Year moo. ,Borrower.warrants and represents that ati software utiNzed in the conduct of eoaowers business wiN have appropriate capabiNties and.
cort~atibNty far operation to handle calendar dates faAtng on or after January 1, 2000, and aN infomnetion perlain(ng to such rrelendar dams, in the
same manner and wtih the same functionality as the software does respectirrp calendar dates faNing on or before December 3t, !999. Further,
Borrower warrants and represents that the data-related user interface functions, data-fields, and data-related program instructlons and tunc8ons
of the software include the indication of the century. _
. dnformation. AN ir~rrnation heretofore or contemporaneousty herewith famished by Borrower tc Lender for the purposes of or in connection with
this Agreemen! or any trensacdon~ contemplated hereby ls, and all information hereaffer famished by or on behalf of Borrower to Lender wNl be.
true•and accurate in•every material respeoton the data as of wtdch such information is dated or certified; and none of such information is or will be
incomplete by omfltlng to state any material fact neca~ary to make such information not misleading.
Survival of Repreaentetfons and Warranties, Borrower understands and agrees that Lender, without independent irnrestigation, >s relying upor
the above representations and warranties in extending Loan Advances to Borrower. Borrower further agrees that the•foregoing representation:
and warranties shall be continuing in nature end shall remain in full force and effect untA such time as Borrower's Indebtedness shall be paid it
tuN, or until this Agreement shad be terminated In the manner provided above, wtrlchever is the last to occur.
AFFIRMATIVE COVENANTS. Borrower covenants and agrees with Lender that, while this Agreement is in effect, Borrower wiN:
tJtipetion. Promplty inform Lender in wrtting of {aj ail material adverse changes in Borrowers flnandal condition,.and. -{b) aU eodsling and al
threatened Ntigation, claims, investtga6ons, administrative proceedings or similar. adlons affecting Borrower or any t3uererltor which coulc
materially affect the financial condition of Borrower or the flnandal condition of any t3uarentor.
Ftnanctal ReeoMs. Maintain Its books and records in accordance with, generalty accepted accxruntlng prncples. applied on a cxursistent basis
and, pemrit Lender to examine and audit Borrower's books and recmrds at sfl reasonable times.
Financla! Statements. Famish Lender with, as soon as available, but in no event later than ninety (90} days after the end _of each fiscal year
Borrowers balance sheet and income statement for the year ended, compiled by a certified pubflc•accountant satisfactory to Lender. All financia
reports required to be provided under this Agreement shah be prepared In accordance with generally accepted accounting principles, applied or
a consistent basis, and certified by Borrower as being true and correct '
Additional Information. Famish such additional information and statements, lists of assets and NabtNties, agings of receivables and payables
inventory schedules,-budgets, forecasts, tax returns, and other reports with respect to Borrowers financial condition and business operations a:
Lender may request from time to time.
Insurance. Maintain fire and other risk insurance, pubNc liability insurance, and such oih~ insurance as Lender may require wBh respect tc
• Borrowers properties and operations, in form, amounts, coverages and with Insurance compardes reasonably acxeptable to Lender. Borrower
upon request of Lender, wiN deliver to !.ender from time to time the polides or certificates of tnsurencre in form satisfactory to Lender, indudinc
stipulations that coverages wifl not be cancelled or diminished without at least thirty (30) days' prtor wriMen notice to Lender. 'Each insurance
policy also shah include an endorsement providing- that coverage to ievor of Lender wfll not be impaired in any way by any act, omission or defau~
of Borrower or any other person. In connection with afl pofldes covertng.asseis in which Lender holds or is offered a security interest for the
Loans, Borrower wB provide !.ender with such loss payable or other endorsements as tender may require.
insurance Reports. Furnish to Lender, upon request of Lender, reports on each existing insurance poky showing such Information es Lends
may reasonably request, Including without Nmftaton the following: (a) the name of the insurer, (b) the risks insured; (c) the amount of the polio
{d) the properties insured; (e) the then current property values on the basis of which Insurance has been obtained, and the manner c
determinlrtg those values; end (i) the expiration date of the poky. In addition, upon request of Lender (however not more often than annuatly
Borrower wNl have an independent appraiser satisfactory to Lender determine, as appiicabte, the actual cash value or replacement cost of an
Cotiateret. The cost of such appraisal shall be paid by Borrower.
Guaranties. prior to disbursement of airy Loan proceeds, furnish executed guaranties of the Loans in tavor of Lender, executed by the guarantor
named below, on Lenders forms, and in the amounts and under the conditions spelled out in those guaranties.
Guarantors Amounts
Philip J. Johansen Unllmtted
James E Johansen and Lynne C. Johansen Unlitnlted
Other Agreements. Comply with afl terms and conditions of aA other agreements, whether now or hereafter existing, between Borrower end ar
other party and notify Lender immediately in writing of any default in connection with any other such agreements.
Loan Prorxeds. Use all Loan proceeds solety for the following specific purposes: Working capital.
Taxes, Charges end Liens.. Pay and discharge when due all of its indebtedness and obligations, including without limitation aN assessment.
taxes, governmental charges, levies and liens, of every kind and nature, imposed upon Borrower or its properties, income, or profits, prior to tt
date on which penalties would attach, end ati lawful claims that, if unpaid, might become a lien Or charge upon any of Borrowers properties
~~"~'~~ ~ BUSINESS LOAN AGREEMENT
Loan No 8877000654 (Cor,rtlfaued) Page 4
income, or profits. Provided however, Borrower wE not be r utred to
long as {a) the bgadty of the same shed be ~ Pay and discharge any such assessment, tax, charge. levy. ten or claim so
books adequate reserves wtth meted in good fatttr by aPProPriate•Proceedings, and (b) borrower shell haw estebdshed on lie
accounting praLtitrres. Borrowerru~pon~de nand of nt.ender w h to L~endeevlde~~oEen• or claim in accordance wiq~ generegy accepted
dens and dainls and will authorlxs the PaY~ of the assessments, taxes, charges, levies,
c aPProP~ govemmenffiI official to delver to Lender at any time a written statement of arty assessments,
harges, levies, Hens end claims against Borrower's properties, income, or ~oftffi.
Performance. Perform and comply wdh ad'berms, conditions, and provLgions set forth In this
manner. and prornptiy notify Lender H Borrower learns of the occurrence of any event which corntan Event of Defattit u~ ~ in a timely .
or under any of the Related Documents. Agreement
Operations Maintain executive and management personnel with subsffintffily the same quadflcations and wcperbnce as the•prgserlt executive
and management personnel; provide written notice b Lender of any change In executive and management personnel; conduct its business affairs
in •e reasonable and prudent manner and to compliance with ad appliCabb federal, state and municipal laws, orrArLancas, rubs and regulations
respecting its properties, charters, businesses and operations, including without Arttitation; compdarx~ with the Americar>s With Disabdtites Act and
with all minimum funding standards and other requirements of FAISA ahd other laws appik~ble b Borrowers employee (~eneflt plans.
Inspection. Permit employees or agents of lender at arsy reasortabte time to inspect any and ell Collateral for the Loen.or Loans and Borrowers
other Prop~lbs and to examine or audit eoaawers books, accounts, and records and to make copies and memoranda of Borrowers books,
accounts, and records. If Borrower now or at any time hereafter maintains any records (including wtthotLt Itndtation computer generated records
and computer software programs for the generation of such records) iri the possession of'a third party, Borrower, upon request of Lender, shall
notify-such Party to permit Lender free access b such records at all reasonable ttmes and to provide Lender wlth,coptes of arty records ft may
request, alt at Borrowers expense.
Compllance CertlNcate. Unless waived in writing by Lender, Provide Lender at least annually and at the tune of each dtsbursensent of Loan
represerstations and~wa~r antiesfo th in t~hi~w~s chief financial officer, or other officer or person acxeptabie to lender, ~(~~ }fit the
Agreement are true and correct as of the date of the certificate and further certifying that, as of the
.date of the certtflcate, no Event of Default exists under this Agreement.
EnWronmental Compliance. and Reports, Borrower shalt comply in aU respects with aA environmental protection federal, state and •local laws,
statutes. regulations and ordinances; not cause or permit to exist, as a result of,an intentional or unintentional action or ortdsslon on its parr or on .
flee part of any third Party, on Properly owned and/or occupied by Borrower arty em+konmenffil w
envfronmerrt, unless such environmental activity is pursuant b and in compliance iMtth the conditions of here dame may result to the
state or local governmenffiI authorltieS; shall punish b Lender promptly and in any event within Permd issued by the appropriate federal,
notice, summons, den, citation. directive, letter or other commur>rcation from any goverr-menffii ~Y ~) days after receipt thereof a cppy of any
or untntentional action or omission on Borrowers part in connection with any environmental! ~~ ~ instrumenffidty rron<:errrlnq ~ Intentional
environment and/or other natural resources. ~tY whether or not there b damage to the
Additional Assurances. Make, execute and deliver to Lender such promissory notes, mortgages, deeds of trust, security agreements, flnanclng
statements, instruments, documents and other agreements as Lender or lLg attorneys may reasonably ragws} to evidence and secure the Loans
and b perfect all Security Irkrests.
RECOVERY OF ADDITIONAL COSTS. If the imposition of or any change in any law, rule, reguffition or guldedne, or the interpretation or application of
any thereof by arty court or admirslstrattvs or govemmentet authority (including any request or policy not having the force of ffiw)•shsp Impose, modify or
make applicable any taxes (except U.S. federal, state or local Income or franchise taxes imposed on Lender), reserve requirements
requirements or other obligations which would (a) Increase the cost. to Lender for extending or maintaining the credit facilities b whbh~~ adequacy
relates. (b) reduce the amounts payable b Lander under this Agreement or the Related Documents, or (c) reduce the rats of return on Lender~'swcaplfel
as a consequence of Lenders obligations with respect b the credd facilities to which this Agreement relates, then Borrower agrees b pay Lender such
additional amounts as wilt compensaffi Lender therefor, wittars five {5) days after Lenders written demand for such payment, which demand stead be
accompanied by en expffination of such imposition or charge and a calcuffitton in rea'sonabte detail of the additional amounts payable by Borrower,
wtdch explanation and calculations shad be conclusive in the absence of manBest error.
NEGATIVE COVQVgNTg, Borrower covenants and agrees with Lender that while this Agreement is in effect, Borrower shad not, without the prior
written consent of Lander.
Indebtedness and Lens. (a) Except•for trade debt incurred in the normal course of business and indebtedness to Lender con
Agreement, create, incur or assume indebtedness for borrowed money, inckLding capital leases templated by this
transfer, mortgage, aselgn,. pledg®, , grant a security interest in, or encumber any of eorrawer's~aspsets, drnveds~ell ureseany of
Borrower's accounts, ,except b Lender.
Continuity of OPerations.~ (a) Engage in any business activities substantially different than these in which Borrower !s nssen e
cease operations, Iiquldate,, merge, transfer, acquire or consolidate with any ottsar entity, change ownership, change iLg naprrre, dlssdv~orgtransfer
or sell Collateral out of the ordinary course of business, (c) Pay any dividends on Borrower's stock (ottser than dividends payable in ifs stock);
provided, however that notwithstanding the foregoing,, but only so long as no Event of Deffiufl has occurred and is.continuE
the payment of dividends, H Borrower Is a "Subchapter S Corporation" (es defined in the Internet Revenue Code of 1886, ~ mended), 8o~rrower
may pay cash dividends on Its stock bits shareholders from time to time [n amounts necessary to enable the•sharehcld~s to pay income taxes....•
and make estimated income tax payments to satisfy their Iiabllfties under federal and state law which arise solely from their status as Shareholders •-
of aSubchapter SCorporation because of their ownership of shares of stock of Borrower, or (d) purohase or refire any of Borrower's oulstand(ng
shares or ader or amend Borrowers cap(tat structure.
Loans, Acquisitions and Guaranties. (e) Loan, invest In or advance money or assets, (b) purchase, create or ac utre ~~~
enterprise orenti#y,'or (c) incur arry•obligatton assurety or guarantor other than in the ordinary course of business, q ~5! Interest in any other `
CESSATION OF ADVANCES. !f 1$nder has made arty commitment to make any Loan b Borrower, wt under this
agreement, Lender shall have no obligation b make Loan Advances or to disburse. Loan proceeds if: (a) earrower cr Agreement or under any other
fhe terms of this Agreement or any of the Related Documents or an other a a^Y Guarantor is in defauti under
any Guarantor becomes insolvent, files a petition In bankru Y greement that Borrower or any Guarantor has with Lender; (b) Borrower or
ptcy or similar proceedings, or is adjudged a bankrupt; (c) there. oxurs a material adverse.
change In Borrowers financial condition, in the financial condition of any Guarantor, or In ttie value of any Codafere! securing arty Loan; (d) any
Guarantor seeks, claims or otherwise attempts to drnit, modify or revoke such Guarantors guaranty of the Loan or arty other loan_with under, or (a)
lender in good faith deems itself Insecure, even though no Event of Default shalt have occurred.
ANNUAL. REVIEW. ThQ loan commitment veld expire.on April 30, 1999. The Lender will review the Loan annually for renewals and extensions; such
renewals and extensions; to be granted predicated on the performance of the company and/or individuals and adherence to the Loan Agreement
and/or loan policy.
LOAN DOCUMENTS. The Note and Related ~rnents, which shad survive clastng, and the provist. ~reof are incorporated herein by reference.
11-OCr1998 ~ BUSINESS LOAN AGREEM~. Page 5
Loan No 8877000554 (Cofttiituefi)
TAX•REfURN3 AND FINANCIAL INFORMATION. eon wtil submit to Lender the guarantors flnandal statements and signed federal ~ returns .
compAed•by a oartlfled pubifc axounfaM satisfactory b Lander no later than oUtely (80) days attar the end of each f~l year. Atl flnandai reports
required b• be provided under this Agreement shall tae prepared in accordance with generetly accepted accountlng principles, applied on a consistent
basis and certlflsd by Borrower as being true and coriect.
RIGHT OF SETOFF. Borrower grerds b Lander a contractual security interest in, and t~eby essigna, conveys, dellvvers, pbdges, end-transfers to
Lender eA Borrower's right, title and interest in and b, •Borrower's' accounts with Lender (whether checking, savings, or some other account), Including
without limitation all aaourrls held jointly with someone else end ell accounts Borrower may open in the future, excluding however alt IRA and Keogh
accounts, and etl trust accounts for which the grant of a security Interest would be protribtled by law. Borrower authorizes Lender, to the extent
permitted by applicable law, b charye or setoff all sums owing on the lndabtadness against any and aA such accounts, and, at Lenders option, to
administratlvely b+seze 9!i soh accounts b allow Lender to protect Lender's charge grid setoff rights provided on this paragraph.
EVENTS OF DEFAULT. Each of the fdigwing shatl constitute an Event of Default under this Agreemerm
Dsfauft on lndsbMdness. failure of Borrower to make any payment when due on the Loans.
Otttet Defaults. fatlure of Borrower or any l3rantor to comply with ar b pertorm when due arty other mrm, obligation, covenant or condition
contained in this Agreement or in any of the Related Documents, or fatiure of Borrower to compry w@h a b perform any other term, obtigatlon,
covenant or condition contained in any other agreement between Lender and Borrower.
False Statements. Any warranty; representation or statement made or furnished b Lender by or on behalf of Borrower a any Grantor under this-
Agreement orthe Related Documents is false or misleading m arty material respect et the tlme made or famished. or becomes false or misleading
at any tlme thereafter.
Defective Collderaliiatiori: • This Agreement or any of the Related Documents ceases b be in fun face and effect prrciuding faqure o- any
Security Agreement to crate a val(d and perfected Security Interest) at any time and for any reason.
Insolvency. The dissolution or termination of Borrowers existence as a gdng business, the Insolvency of Borrower, the appdntment' of a receiver
for any part of eon'ower's properly, any assignment. for'the benefit of oredibrs, any tYPe. of creditor workout, a the commencement of any
proceeding under any bankruptcy or insotvenoy laws try or against Borrower.
Credibr or Fortelturo Proceedings. Commencement of foreclosure or forfeiture proceedngs, whettrer by judbfai pvooeBding, self-help,
rep'osaession or arty other method. by arry creditor of Borrower. any creditor of any Grantor against any collateral securing the Indsbtedaess, or by
any govemnren~i agency; This Includes a garnishment, attachrtwnt, or levy on or of any of Borrower's deposfi amounts with Lender.
EVerite Atbclinp (iuararrtor. Any of the.preceding events occurs with respect to any Guarentor of any of the Indebtedness or any Guarantor rile:
or becomes Incompetent, or revokes or disputes the validity of, or liability under, arty Guaranty of the Indebtedness.
Change In Ownership. Any change in ownership of twenty-flue percent (2696) a more ai the common stock of Borrower.
Adverse Change. A material adverse change occurs in Borrower's financial condition, .or Lender believes the prospect of payment or
performance of the Indebtedness is impaired.
Insecurity. Lander, in good faith, deems itseti insecure.
EFFECT OF AN EVENT OF DEFAULT. if any Event of Default sha0 oxur, except where otherwise provided In this Agreement or the Relates
Documents, ati commitments acrd obligations of Lender under this Agreement or the. Related Doctrmerrfs or any other agreement immediately wit
terminate (irx~uding arty ObNgatlon to make Loan Advances a disbursements), and. at Lender's option, ati Indebtedness immediatety witi become dur
and payable, all without notlce of any kind to Borrower, except that in the case of an Event of Detautt of the type described In the 9nsdvency
subsectlon above, such axeleration shah be automatic and not optional. In add[tion; Lender shah have all the rights and remedies provided in IhE
Related Documents or available at law, in equity, or otherwise. Except as may be prohibited by eppficable law, all of Lender's rights artd remedies she:
be cumulative and may be exerdsed singularly or concurrently. Election by Lender b pursue any remedy shall not,exdude pursuit of any othe
remedy, and an alectlon to make expenditures or to take action to perform an.obtigetlon of Borrower or of any Grentor shall not effect Lender's righttc
declare a default and to exardse its righffi and remedies.
MISCt1:LANEOUS PROVISIONS. The fcllowing miscellaneous provisions are a pert of this Agreement:
Amendments. This Agreement, together with any Related Documents, constitutes the entire understanding and agreement of the parties as to thr;
metiers set forth In this Agreement No alteration of or amendment to this Agreement shad be effedlve unless given in writlng and signed by thr:
party or parties sought to be charged or bound by the atieratlon oc amendment
Applicable Law. This Agreement has been deilven~d to Lender and accepted by Lender In the Commonwealth of PennsylveWa. it there l:
a lawsuit, Borrower.agrees upon Lender's request to submit to the Jurlsdictlon of the courts of Dauphin County, the Conrmonweatth o
Penmrylvenin. Lender and Borrower hereby waive the right to any jury triad In any action, proceeding, or counterddrn brought by elthe
Lender or Borrower against the other. This Agreement shall be governed by and constniat In excordarrce with the laws of the
Comnwnwealth of Pennsylvania.
Caption Headings. Caption headings in thts Agreement are for cornenierxe purposes only and are not to be used to interpret or define th
pmvtsions of this Agreement
Mulflple. Parties; Corporate Authority All obligations of Borrower under .this Agreement shall be jdM and several, and all references b Borrowe
shalt mean each and every Borrower. This means that-each of the persons signing below is responsible for ail obligations in this Agreement
Consent to Loan Participation. Bonawer agrees and conser>ts to Lender's tale cr transfer, whether now or later, oft~ae cu-Fnore:parfidpatio
lnieresis in the Loans to one or more purchasers, whether related or unrelated fo Lender. Lender may provide, without any limitation whatsoeve
to any one or.more purchasers, or potential purchasers, any information or knowledge Lender may have about Borrower or about any other matte
• relating to the Loan, and Borrower hereby waives any rights to prhrecy tt may have with respect to such matters. Borrower additlonailyweives ar
end all notices of sale of participation interests, as wed es ail notlces of any repurchase of such partldpatlon Interests. Borrower also agrees thr
the purchasers of arty such participation interests will be considered as the absolute owners of such interests fn the Loans and wtil have all th
rights granted under the perflcipatlon agreement or agreements governing the sate of such participation interests. Borrower further waives
rights of offset or counterclaim that It may have now or later against Lender or against any purchaser of such a partidpatlon interest an
unconditionally agrees that either Lender or such purchaser may enforce Borrower's obtigatlon under the Loans irrespective of the failure c,
insohrency of any holder of any Interest in the Loans. Borrower furttrer agrees that the purchaser of any such partclpation interests may enforce i
interests Irrespective of any personal claims or defenses that Borrower may have against Lender.
Costs and Expenses.. Borrower agrees to pay upon demand afi of Lenders expenses, including without fimttatian attorneys' fees, incurred
connection with the preparation, execution, enforcement, modification and collection of this Agreement or..ln.connection with. the Loans mac
pursuant to this Agreement. Lender may pay someone else to help collect the Loans and b enforce this Agreement, end Borrower wilt pay th.
amount. This includes, subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses, whether or not there !s
~~-os'~99s BUSINESS LOAN AGREEMENT
Loan No 8877000554 (Contlnue~ Page 6
lawsuit, lnduding atia'r'teys' fees for banlwP~Y Procee~r>As (including efforts to modiy or vacate
any anticipated Pmt-~udgrnent collection services, Borrpwer~ wl9 pay arty court costs, in ad~don~b aM ~r~s ~ or injunction), appeals, and
Notitxa. AN notirals regtrlred to be given under this Provided bylaw.
bylaw}, and shah be eBecthne when actual) delivered ~r when dep~os(ted with ai naUo ~~ ~y ~ sent by telefacstmpe (unless otherwbe repuired
~~~ ~ 1$df Pvetape Prepaid, edydressed to the early to whom the notice is to f~ g~hr~~ ~ ~~ ~~ eb~ ~d In the United
notices under this Agreement by gluing fprmal wriffen notice to the other parties, specifying that the Purpose of~ttteP Ica is
to change the party's addre~. Ta the exter>f permitted by applicable law, if there ts• more than one Borrower, notice to any Borrower wtit constitute
notice to all Borrowers. For notloa purposes. Borrower wt@ keep Lander informed at ati.times of Borrower's cement a
SeveraMtity. if a court of competent Jurlsdicion finds an ddress(es).
dreumstance, such Rndl Y Provision of this Agreement to be invalid or unenforceable as to any person or
ot~ ng shag rtot render that provision irtvatid or unenforceable as to any other persons or dreunratances. If feasible, arty such
nag provision shag be deemed to be •modltied to be within the Lmits of enforceability or vatidlly; however, if the offending provlslon cannot be
so modlfled, it shah be stricken and alt other provisions of this Agreement in all other respects shall remain vetid and eMoroegbte.
Subsidlarl~ ~ Aftil~ ' wBo~yer. To the extent the context of anY Pons of this Agreement malkes ff epProl~rlate, .
limitation a arranty or covenant, the word "Borrower" as used herein shag Include ati subsidlarfsa and aifl0ates tN~Borrohwert
Notwititstanding the foregoing however, under no crcumstank:es shall this Agreement be cortstrued to require Lender to• rnake any Loan or other
finandal accommodation to any subsidiary or afftiiate of Borrower.
Suctreaeors acrd Aselpns. All covenants and agreemerds contained by or on behaM of Borrower shall bind Its
any interest therein, wffh the prior'or' written oonr ofof LencJer. per shore not, however. f~avs the right to assign ffs rlgh~ der this ~Agresrnsnt or
Survtvai. All warranties, representations, and covenarts made b Borrower in this
Borrower to Lender-under tt~ y Agreement or in arty certificate or other irrsfrument delivered by
Agreement shati be t:onsiderad to have been retied upon by Lender and witi'survive the making of the Loan. and
delivery to Lender of the Related Documents; regardless of arrylnvestigation made by Lender or on Lender's behalf.
i'Ime Is of the Essence, Time >s nt the. ~,~ in the performance of this Agreement.
Walvar. Lender shati not tae deemed to have waived any rlghis under this •
Lend. No delay or omission on the Agreement unless sect waiver is given in witting and signed by
part of Lender in- eukercising any rightsttati operate as a wahror of such Mar ~
Lender o! a provision of this Agreement shati~not preJudtce or constitute a waiver of tenders right otherwise to demand str mpAerrAoe ~t~~
provision or arty other provision of-this Agreement. No prior waiver by Lender, nor any course of dealing- between Lander and Borrower, or
between Lander and arty Grantor, shall constitute a w regof a~dny ~~ ~ Ss dg~ a ~ ~, ~Iigatlkins of Borrower or of any prantrx ~ to any
tuture trarrsections. Whenever the consent of Lender is Agreement, the Granting of such consent by !.ender fn arty irtstarroe
shati ~ constitute coMtnuing cor>sent in subsequent instances where such consent is required, and in ati cases such rrornent maybe granted or
withheld in the sole discretion of Lender, .
BORROWER AgUI0yVL8pGES HAVING READ ALL THE PROV1310NS OF THIS BUSINESS LOAN AGREEMENT, AND BORROWER AGREES TO
ITS TERMS. THIS AGREEMENT IS DATF~ AS OF NOVEIi~ER 8,1998.
THIS AGREEMENT IiA3 BEaI gIGNED AND SEALED 8Y THE UNDERSIGNED.
BORROWER: `
Market Streetytetato, Into
~~ .bl>artsen A - )
LASER PRO, Rey. U.S. Pat. i T.M. Ott., Ver. 3.25 p)1sae8 CFI ProServkea, rno. Atl rlytftt reserved. (PA_C40 MARKET.LN CLOVL) • •
~"
COMMERCIAL`'GUAR/~NTY
GUttrerttor: Jarrrea E. Johansen and i<.yrme C.:btllsrsen .
:.:":
407.E IMSin $t.
Msctianlcsburg, PA 17055 .
Af110tNiT OF GUMIWTY. The amount of this Guaranty U Unlbnlted.
CONTINUING t1N1.1MITED GUARANTY. For good sari valuable condderNlon, James E .bhMtsen and Lynne C. Johansen ("t3uararrtor")
absokrtely aril tmxOndiy guarantee and promhe to pay, jolnty and severalty, to cards Savings earllc ("Lerldar") or its oroer. on demand,
in IegM fonder of the tlydkd States of I-nlerka, the Indebtedness (as chat term is dettnsd be~-) of ttierkft Street Munk, incnrpwder
("Borrower") ~ Leader on the bans and emndltlons set forth in thla Guaranty. Under this Guanrriy, the UabiNty of Guarantor is unlimited anc
the obggedlons of Guaramor are contlnukg. •
~DEFINITIONt3. The fciowing words shall have the following rneantngs when used" in this Guaranty: .
Borrower. The word "Borrower' means Market Street Music, Incorporated.
Guar tor. The word "Guarantor" means James E. Johanson and Lynne C. Johansen, who ere signing this Guaranty Jointly and severely.
Guaranty. The word "Guaraniy" means this Guaranty made by Guarentor for the benaftt of !.ender dated November 6.1998.
Indebtedness. The word'7ndebtedness" Is used fn its most r~mprehendve sense and means and Includes ami and all of Borrower's IleblllUes
oblpations, debb, and indebtedness to Lender, now exleting or hereinafter Incurred or created. hrcludirq, witiuxrt imftaUon, all loans, advanc8r
interest, costs, debts, overdraft indebtedness, credft card indebtedness, tease oblpatione, ottxa obRpetk-ns, 'and ftabNities of eorrowsr, or any c
them, and any present or future Judgments against Borrower, or any of them; and whether arty auoh Indebtsdnasa b vduntariy oririvduntarit
Incurred, due or not due, absdule or contingent, Uquldated or unlquidaied, determined or undebermirwd; whether Borrower may be Uabi
individually, or jointly with others, or primarily or seoonderlly, or as guarantor or sunny; whether nmovsry on the Indsbtstlness •rr~y be or me
become bawd or uneMOrceable agairud Borrower for any reason whatsoever; and whether the Indebtedness arlaes from transactions whk:h me
be voidable on account of infancy, lnsantiy, ulra vices, or otherwise.
Lender. The word'1.ender' means Harris Savings Bank. its successors and assigns. "
Related Doaimerns. The wonis "Related Documents!' mean and include wthout lmftation al promissory notes. aedt agreements, los
agreements. ernAconmenW agreements, guaranties, security agreements, mortgages. deeds of trust, and air othaR irrstrnrnants,-agraemerds ar
documents, wtxtlher now or hereafter existing. executed in connection with the Indebtedness.
NATURE'OF GUARANTY. Guarantor's labiny under this Guaranty shah be open and continuous for so bag as tlrb Guaranty romdns in forc
Guarantor intends to guarantee at aU times the pertormerx:e and prompt payment when due, whether at maturfty or earler by nNrson of accderation
otherwise, of ell indebtedness. Arxordingly, no payments made upon the Indebtedness w(l disdrerge or dlmlntsh the continuing labiityof Guarani
in oonnecUon Wtth any remaining portions of the Indebtedness or any of the Indebtedness which subaoquentiy arises or Is thereafter incurretl
contracted. The oblgations of Guarantors shall be joint and several Lender may procx~ed against any of the Ousrantare individualy; against a
group of Guarantors, or against all the Guarantors in one action, without affecting the right of Lender to proceed against other Guarantors for amour
that ors covered by this Guaranty. Any inablity of Lender to proceed against any Guarantor (whether caused by actions of a Guarantor w of Lends: :,
wiN not affect Lender's right to proceed against any oral remaining Guarantors for all or part of the amounts covered by thin Guaranty.
Dld1AT10N OF GUARANTY. This Guaranty call take effect when received by Lender without the necessity of any aixmptance by Lender, or any noti
k Guarentor or to eorrow~, and call continue !n full force until all Indebtedness incurred or contracted before naoeipt by Lender of any notice
revocation shell have been fully and i~ndly paid and satlstied and aU other obUgatiorrs of Guarantor under fhb' Guaranty shat havs:been performed
full. If Guarantor elects to revoke this Guaranty, Guarantor may only do so in writing. Guarantors written notice of rrivocaUon must'be mailed
Lender, by certlfted mall, at the address of Lender Ilsted above or such other piece as Lender may designate In•wrWng. Written revocation of t
Guaranty call apply onty to advanrxas or new Indebtedness created after actual recdpt by [.ender of Guarantors written revocation. For this purpc
and wfthout Umftation, the term "new indebtedness" does not include indebtedness which at the time of noMbe of revocation is oontingent~ unifquidat:
undelerrnined or not due and which labor becomes absolule, Ifquldated, determined or due. NoUoe of revocation ehau be effeclh-e onfy as to
particular Guarantor providing the notice, and shall not affect the labUity of other guarantors. This Guaranty wW continue to bind Guarantor for
Indebtedness incurred by Borrower or rmmmitted by Lender prior to receipt of Guarantors- wrftten notice of revocation, inolvdng" ariy'' extensic
renewals. substitulbrrs or mod'd~ations of the indebtedness. Al renewals. exterwions, sulxstihrtiorrs, and modHicAtions of the Indebtedness gran
after Guarantor's revocation, are oorrbemplated under this Guaranty and, speciftcely wit not be considered`to be iraw indebtedness. This Guere
shah bind the estate of Guarantor as to indebtedness created both before and after the death or irx;apadty of Guarantor, regardless of tenders sc
notice of Guarantor's death. Subject to the farogdrig, Guarantors executor or administrator or other kpd representative' may ierrcdnate this Guarani
the same manner in which Guarantor might have terminated ft and with the same effect. Release of any otter guarantor "ar tiarMnatiofi of any o
guaranty of the indebtedness shall not affect the Aabflty of Guarantor under this Guaranty A avocation rerx~i~aed'by'Le'n"der"from'•any`ene or" rr
Guarantors shaA not affect •the labiAty of Any remaining Guarantors under tt-is Guaranty. it le antidpated than lluctudlons may occur in
aggregate amount of Indebtedness covered by this Guaranty, and tt la specMcdly acknowledged and agraeM by Guaranbr ttrat reduetion
the amount of Indebbdness, even to zero dollars (50.00), prior to written rovocatlon of this Guaranty bY' Guarantor -shell not constitu`
terminatlort of this Guaranty. This Guaranty is binding. upon Guarantor and Guarantor's heirs, successors and esslgns so long as any of
guaranteed Indebtedness remains unpaid and even though the indebtedness guaranteed may from time to time be'zero dollars (SOAU).
GUARANTOR'S AUTHORIZATION TO LENDER. Guarantor authorizes Lender, either before or after any revocation hereof, without notlc~
demand and without lesaerdng Guaranior's Ilabtllty under this Guaranty, from time to time: (a) prior b rovocatlon as set forth above, to n
one or more addltfOnal secured or unsecured loans to Borrower, to lease equipment or other goods to Borrower, or othen+viae to ex
additkrnd credit to Borrower, (b) to after, compromise, renew, extend, accelerate, or otherwise change one or more ttmes;the timr:
payment or other terms of the Indebtedness Or arry part of the Indebtedness, Including Inexeaass and dscreasesj, of the cab of interest.w .
Indebtedness; extensions may be repeated and may be for longer then the odglnd ban term; (c)'to take and hold geaxtttl for the payme~
ltUs"Guaronty or the Indebtedness, and exchange, enforce, wdve, subordinate, fall or deckle not to.petteet, and sNesae any,such sea
wfth or without the subsfltutk-n of new collederal; (d) to rolease, substitute, agree riot to .sue, or dad vitth amt one or more of Borrov
Borrower: Market Street luludc, Incorporated (TIN: Lender:. Fterrla savings Bank
201791122) 294 N. Second Street
19 >« Naln st. P O Box 1711 '
. tlfledrerdcaburg, PA 17055 ' . Flarrisburg, PA 17105
• ~ ~-~OS-- f99s C0Np1AERCiAL GUARANTY -
Loan No 887700Q5S4 (Continued) , Pagt: 2
swragea, ertdorsxs, or ofhsr Warantora on any terms or in any metater Lsrnter
of payments and credits ahetl • be made on the Indebtedness; ~ to ~ ~OOee; (°) b detennbts frown when and what
aidosu+stbn ut tlmitaltart, arty rtoniudkW saM• PennltMd by the terms ~e °~~~ and dlroct the order or mertne<. of ~ ~
may determine; (g) b sal transfer, assign, or grant ParBc[patlorrs in X10 °any p~ o f~e~It or deed o/ trusty as !.ender Irt its
transfer this Gtraran In whole or ht ndsbtsdnetass; and (h) b assign or
cwwaNTaR's t~Rt~ENranoNS AP1D waRRANn~s. Guarantor represer~ and warrants b Lender that a no
of arty Idnd have been- made to Guarantor which would pmlt or () representafbns oc agreements
Borrowers request and not at the request of Lender; (c) Guarantor ha~funln any way the terms of this Guaranty; (b) this Guaranty b ~ at
Chia GtauaMy do not conflict with or result in a default under Power. right and authortly b enbr into this Quarartly~ (d)-.the provisions of
of any law, regutatlon, court decree or order apppcabb to ~ agreement or other inetrurnent binding upon. Guarantor and do not result 1n a violation
asp, lease, assign. anoumber, hYPotf>aCab. transfer or otherw (e) Guarantor has not and wm not, wiBtcut the prior wrtlbrt
Lenders request, (iuararttor wpl provide to Lender of ap or substantbAy ant of Guarantor's.asaeb, or went of::Lender .
which currently has been, and ep fuhxe financial ! financial antl credp tnform4yon In form ~Y inbrest therein; (t) upon
nformatlon which wW be acceptable to Lender, and aA such flnartrStf tnformetlon
fairly present ttq financial conditlon of Guarantor as of ttra-dates the fl p~~ to Lender is and wtp be true and. COne°t in ant tnaterbl r'~Pects and
Gwrantors financial condition since fhe.dab of the moat recent flnanrdal statements pro i~ ~d~ ~d~ hm ~ ~ o~ured in
Y advxaely effect Guarantors tlrrartclal condpton; (h) no
_ those for unpaid taxes) ageirtst c~#trsrantor is O"' °~~ imroatlgrdton, eamiristraihre occurred which. may-
eom~-er;.and • Guarantor ha3 estebpahed~ a~reabrred' ' p) Lender has made no ~ b G ~o ttua rx~w off
tlnartctai•rxndltlon~. Guarantor adequate means of abtatnir~ from Borrower on a rArmrttyrtg basin tnbrnlatlon regarding Borrowers -
affecrt Guarantor's risks under GGareNb y d G~uereMYorihulttar apra~ that Lender shop ~ ~ ' °r ~~ ~M b ~Y way.
or documents acgt~red by !.ender in Bra course of tls relatlbrrship wHh Borrower. obflgeflon b dtsdoae b Guarantor arty btfonnatbn
GUARANTOR'S WAIVERS. lBxept as prottJbited by aPPpctbte law Gu .
extend otttsr credp to Borrower, (b) b make any presentment , • ~ grantor waives any right b require kender (a) b contlnue Iendi m
Indeb6edrtass or or any nonpayment related to a cope ~ Probst, demand. or notkx of any kind,: tndudinp notice a an non ~ °"~ °r to
or other gtroranfor in conrtedfon wRh the Indebtedness or to con
nY feral, or nonecpon ~th~n or nonacflon on the part of Borrower,. Lender, any surety, endorser,
payment or b proceed Y or at .once against arty person, including Borrower or and pueranbrd ~ to prroceed d ~
cdlatwal held by Lender from Borrower. any other guarantor or irectly~ageirtat o)r teodiaust any
Pnva~ eels of Penronal Property held b Lender from ~ other .person; (e) b give notce of the terms, time,, and' place of arty •pubic or
Cods; (f) to pureue.any otfrer Y Borrower or to comply wtlh any other applk~bis provislorts o[ the .Uniform Commercial .
matbr whatsoever. nom' within Lender's. Power. or (g) to commtl any act or ombeton of a kind, or at any tlme, with
"~' respect b any
Guarantor also wahres arty and all
prevent Lender from brio his ar defers arising by reason of (a) any "one actlon" or "anti-deficie
grog arty acpon, irxxudlrrg a Claim for de}Idenoy, agatns! G may" law or any other law which may .
any foreclosure aotlon, epher Jud(dally or by exercise of a ~lnta, before or atler Lendw's'commenpmerrt ~ con~etion of
affects Guarantor's sub ntlon Power o1 sale; (b) any electlon d remedies by Lender width den
tog rights or Guaranbrs rights b proceed treys or otherwise
rlghh Guarantor may. suffer by reason of any law pmttl ~n~ Bomcwer for reimbursenrarrt, including without flmitatlon, any lam
IanY other ti~'ant~. or of any other person, w by r~pn t ~~~ Hof ~~ the Indebtedness; (o) any dtsablliit, or other d of
legal tender, of the Indebbdness; (d) any d8ht to claim d ~ ~~ from arty cause whatsoever, other than ~~ of
indebtedness; (e) arty statute of Ilmibtlons, tl at any time •arry~actl~on ~ ~I b~b~ on the basis of uaJustpled tmPeirment of an ~Y~ in full
indebtedness of Borrower b Lander which is not barred b a a ~ Y Lender against Guarantor is commenced theyre is ouhtandlr g
equtly other tlwn actual payment and y nY aPPflcable statute of pmitatlons; or (f) arry•defenses gh+en to guarantors at law or in
third Party, on the Indebtedness and pertarmance of Bra Indebtedness. If payment !s made b B
thereafter Lender b forced to ramp the amount of that Y ~~~ wttetlter vcluntarlly or crttrervrbe, or byany
similar person under any federal or state bank payment fo. Borrower's trustee in bankruptcy or =b any
errfotcement of this :Guaranty. ^~~' ~w or law for the repel of debtors. the indebtedness snap be considered unpaid-for the purpose of
C3uaranlor further wolves and agrees not b assert or Balm at any time arty dedtrctlons.b the amount uarenteed
• setoff, counbrolaim, counter demand, recoupment or sbnilar rlgM, whether such claim, demand ogr right may be tassertsd by the Borrower, the
Guarantor, or both. - ntY arty claim of
GUARANTOR'S UNDERSTANDING. WITH RESPECT TO WANER3. Guarantor .
with Guarantors fop knowledge of ib s~niflcanoe end consequerx;es and t wa[ranls and agrees that each of the waNas set forth above tsmade
publk popsy or law. If any such waiver Is determined b be ~ under-the clrounrstarxres, the,walvera are reasonable and not
extenYpermit#edbyiaw or public poflcy. ~n~Y to any epplkrekksle law or public policy, such waiver ahap be effectlve onlyhe
LENDER'S RIGHT OF SETOFF. In adfitlon b ap pens
Lender by law, Lender shall have, .with upon and rl®hts of setoff against the moneys, securities or other property o[ Guarantor
contractual sscurtiy interest to and a to Guarantor's oblipatlons to Lender under this Guaranty and b the extent given to
Guarantors right of setoff.agaMst; and Guarantor hereby ass(gns, ro Perrnttted by. law, a .
r~ht, tips ertd interest to and to ap Ls, m nYeYs. depvers, pl
on deposit with Lender. whether held. In a ~~ °~~ securities and other Properly of 6usrantor nowhereralmter l~n theme tO -finder ap of
• safekeeping or otherwise. excludng however a~ll~ ~ ~~' account or depasp, whether Held Jointly with . Possession of.or -
wphout demand ~ Keogh, and frost accounLg. Every such S0~0ne ~• or whether held for ^.
upon a notice b Guaranbr., No security interest or ht of setoff interesi.and right of setoff rna be • = µ
part of Lender or by any neglect. b eaercTse S,Uph ht of setoff ~ sheN• be deemed b have been waived by arty ad or y exerclsetl '`•~~ .
security interest shag conpnue in fuq force' and eif~ect until such r;ght ff orh ~~ inbrest or by any delay in sD d ~~ on the
wrtting e~cufed by Lender. se°urity interest is °~. Ewo-y rightof sew and
trpeclflcaUy waived or recessed by an instrument in-~ -
Sl~ORD1NATION OF BORROWER'S D®TS TO GW-RANTOR. ~-~
exbtlng or hereeRer Crested, shaA 6e tier to Guarantor agrees that the Indebtedness of. Borrower: to Lender, whether now :_ _
'becomes insolvent. Guarantor hereb P any claim that Guararr#or may now have or hereafter _
Y~pressly suborclnates any clatm Guarentor may have against Borreror~l Pong~o~ w~{s° ~ ~Y
Geim that Lender may now or hereafter have against Borrower. Irt the event of insolvency and cor>sequent pqutdatlon of the •-
through bankruptcy. by an assignment for the benefit of creditors, by voluntary flquidatlon, or otherwise; the . asseb of Borrower,
payment of the. claims of both Lender and Guaranbr shall be paid .to Lender and snap be t&sy applied by tenders ndeb d ~s ot-Borrower to
lender. Guarantor does hereby assign to Lender ail clalnts which tl apPflcable to the.
bankn~tcy of Borrower; provided however, that such assignment stray be heftactlve oan~ly for ~ net Borrower ar against any ass(enee or trustee' in
' tender of the Indebtedness. if Lender so requests, arty notes or credit agreements now or hereattepr e~vid~ctnt ~~~ts or ~ ~ PeYr+arrt in lapel
Guarantor shall be marked wish a legend that the• same are subject b ttda Guaranty and shall be depvered b Lender. Guarantor
hereby is authorized, in the name of Guarantor, from time b time.b execute and fps flrrand s obtpatlons of Borrower to .
such outer documents and b take such other actions as Lender deems. ~ tatements and corrpnuetlon slat gees. and Lender .
ly necessary or emenb and b execute
Guaran appropriate to
Pew. preserve and enforce Its righi$ under this
MISCELLANEOUS PROVISIONS. The following misceAaneous provisions are a part of this Guaranty;
• ~~-06-~99s CQMMERCtAL GUARANTY Page 3
Loan No 8877000554 ~ (Continuecg
Amendrtrents. Ttds Ciuaraniy, bgethar wtth• any Related Documents, constitutes the entire understanding and ~rperneM of the partffis as b the
' matters set forth in this Guaranty. No alteration of or anwndment to this Guaranty shah be effectve unless given in writing and signed by the party
or panes sought b be ctiaryed or bound by the alteration or amendrrlijnt
Appticabb Law. This Guarany has been delivered b Lender and accepted by Lender In the,Commonwealth of Penrrsylvanta. M there is a
lawauti. Guarantor agrees upon Lender's request b submit to the jurisdiction of the courts of Dauphin County, Commonwealth of Pennsylvania.
Lender and Guarantor hereby waive the right b'sny jury trial in any action, proceeding, •or courrterclalm brought 6y eittrsr Lender or Guarantor
against the other. This Guaranty shati be 9ovemed by and. construed in axordance with the laws of the Commonwealth of Pennsylvania.'
Attorneys' Foss; E7cpenaes. Guarantor agrees b pay upon demand ell of Lender's coals and expenses, induding attorrrreya' fees and Lenders
• legal expenses, trrcurred in cairrrectlon with.the errforoement of.this Guaranty. Lender may pay someone else b trelp enioroe this Guaranty; anc
Guarantor shall pay the costs and expenses of such enforcement::Cosffi.and sxperrses•indude:Lenders attorrreys'-fees and legal expense:
wtrettrer or not ttwre ffi a lawsuit, including attorneys' fees5 and .legal expenses for bankruptcy proceedings (and Mdudirrg e'fioits b modify-a
... vacate any automatic stay or injunction). appeals, and any arttidpated post-judgment coilactlon servkes. •Guerarrbr also stroll pay ati court cos!<
and such addWonat fees as maybe d~Cted by the court •
Nodcea. Ati notioes required b be given by efther party b the other under this Guaranty shall be in wrffing, may be sent •by teletaca:imile (unless
otherwise required by law), and, except for revocation notices by Guarantor, shaA be effective wtren actuaay delivered or when deposited with F
nationally recognized overnight courier, or when deposited In the United Staffis melt, that class postage prepaid, addressed b the party to whoa
the notoe is b be given al. the .address shown above or to such other addresses ss either party may designate to the other In writing. A
revocation notices byy Guarantor shati be in writing and shall be eNectlve oMy upon detlvery b Lender ~as provided above to the :section ttiler
"DURATION OF GUARANTY" If there ffi more than one Guarantor, notice b arty Guararrbr will constitute notice b atl Guarantors. For notice
purposes, Guarantor agrees to keep Lender informed at atl times of Guarantor's current address.
• Interpretation. In atl cases where there is more than one Borrower or Guarantor, then alt words used In this Guaranty fn ttw s[rrguler sheti b
deemed b harre been used in the plural where the context and consinxtlon so require; and wtrero there is more than one Borrower named in thf
Guaranty or wtren this Guaranty is executed by more than one Guarantor,. the words "Borrower' and "Guarantor" respectively shag mean alt any
any one or more of them. The words "Guarantor,' "Borrower," and "Lender' include the heirs, suxessors, assigns, and tram of each c
them. Caption headings In thin Guaranty are for convenience purposes ony and are not to be used b Interpret or define the provisions of flit
Guaranty. 1t a coral of competent jurisdbtion finds arty provision of this Guaranty b be invalid err unenbrceabb es b arty petson or Clroumstance
such Boding shall not render that provision invalid or unenforceable as to arty other persons or dreumstances, and all provisions of ttds Guarant
in ati other respects shag remain valid and eMorceable. ff anyone a more of eorrawer or Ouerantor are corporations or partnerships, it Ls nc
necessary for Leader b inquire Into ilia powers of Borrower or Guarantor or of the officers, directors, Partners, rx agents acting or purporting to ac
on their behalf, and any Indebtedness made or rxeated in retlance upon the professed exerr~se of such powers shall be guaranteed under flit
Guaranty.
Wahror. Lender shall not be deemed to have waived any rights under this Guaranty unless such waiver is given in writing and signed by Londe
No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other dghL A waiver by Lender ~
e provision of this Guaranty shag not prejudice or constitute a waiver of Lenders right otherwise to demand strict compliance with that provision r
any other provision of this Guarenty. No prior waiver by Lender, nor any counts of dealing between Lender and-0uaranbt,.shati•canstltute
' waiver of any of Lenders righffi or of arty of Guarantor's obtlgatior~ 85 b any future transactions. Whenever ths+•corrsent-of •tsnder is require
under this Guaranty, the granting of such consent by Lender in any Instance shatl not constitute continuing consent to subsequent instancr
where such~onseM ffi required and in all cases such consent may be grerded or withheld in •the sde discretion of Lender.
CONFESSION OF JUDGMENT. GUARANTOR HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY ATTORNEY OR TF
PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTW OF PENNSYLVANIA, OR ELSEWFERE, TO APPEAR AT ANY TIME FC
GUARANTOR AFTER A DEFAULT UNDFA THIS GUARANTY, AND WITH OR WITHOUT COMPLAINT FILED, AS OF ANY TERM. CONFESS C
ENTER JUDGMENT AGAINST GUARANTOR FOR THE ENTIRE PRINCIPAL BALANCE OF THIS GUARANTY, ALL ACCRUED INTEREST, tAl
CHARGES, AiVD ANY AND ALL AMOUNTS EXPENDED OR ADVANCED BY LENDER RELATING TO ANY COLLATERAL. SECURING TF
INDEBTEDNESS TOGETHER WI'f1-I INTEREST ON SUCH AMOUNTS, TOGETHER WITH COSTS OF SUIT, AND AN ATTORNEY'S COMMISSION C
TEN PERCENT (1096] OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST FOR COLLECTION, BUT, IN ANY EVENT NOT LESS THE
FIVE HUNDRED DOLLARS (5500) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE IMMEDWTELY; AND FC
SO DOING, THIS GUARAMY OR A COPY OF THIS GUARANTY VERIFIED BY AFFIDAVIT SHALL BE. SL~FICIENT WARRANT. THE AUTHORf
GRANTED IN THIS GUARANTY TO CONFESS JUDGMENT AGAINST GUARANTOR SHALL NOT BE EXHAUSTED BY ANY EXERCISE OF TH.
AUTHORITY, BUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNTS DUE UNDER TI-
GUARANTY. GUARANTOR HEREBY WAIVES ANY RIGF[T .GUARANTOR MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION WiTH AI
SUCH CONFESSION OF JUDGMENT, t~CCEPT ANY NOTICE ANDlOR HEARING REQUIRED UNDER APPLICABLE LAW WITH RESPECT -
EXECUTiON OF THE JUDGMENT, AND STATES THAT EITHER A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THIS CONFESSION i
JUDGMENT PROVISION TO GUARANTOR'S ATTENTION OR GUARANTOR HAS BEEN REPRESENTED BY INDEPENDENT'IFGAL COUNSEL TI
LIEN. ARISING FROM ANY JUDGMENT CONFESSED OR ENTERED PURSUANT TO THE FOREGOING AUTHORITY SHALL NOT TDCTEND 70 A:
OF GUARANTOR'S RESIDENTIAL REAL PROPERTY AS THAT TERM IS DEFINED IN THE PENNSYLVANIA ACT OF JANUARY 30, 1974 (PA. LAS
13, N0.6), REFERRED TO AS THE LOAN INTEREST AND PROTECTION LAW, AS AMENDED, AND THE HOLDER OF ANY JUDGMENT CONFESS
OR ENTERED PURSUANT TO THE FORGOING AUTHC>FTITY SHAtI NOT,. IN ENFORCEMENT OF ANY SUCH JUDGMENT, EXECUTE, LEVY
OTHERWISE PROCEED AGAINST ANY SUCH RESIDENTIAL REAL PROPERTY; PROVIDED, HOWEVER, THAT THE LIEN OF SUCH JUOGME
SHALL EXTEND TO SUCH RESIDENTIAL REAL PROPERTY AND THAT THE HOLDER THEREOF SHALL BE PERMITTED TO EXECUTE, LEVY
PROCEED AGAINST SUCH RESIDENT1AL REAL PROPERTY FROM AND AFTER THE ENTRY OF A :IUDGMt=NT•AS. CONTEiNPLATP~ BY SECTi•
407 OF SUCH LOAN INTEREST AND PROTECTION LAW AND RULES 2981 TO 2986 OF THE PENNSYLVANIA RULES OF CIVIL PROCEDURE,
SUCCESSOR OR SIMILAR STATUTES AND RULES. NO LIMITATION. OF LIEN OR ANY EXECUTION, LEVY OR .OTHER ENFORCEME
CONTAINED IN THE IMMEDIATELY PRECEDING SENTENCE SHALL APPLY WiTH RESPECT TO ANY JUDGMENT OBTAINED OTHER THAN BY T
FOREGOING AlTHORITY TO CONFESS OR ENTER JUDGMENT.
EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS GUARANTY AND AGREES TO
TERMS. IN ADDITION, EACH GUARANTOR UNDERSTANDS THAT THIS GUARANTY IS EFFECTIVE UPON GUARANTOR'S EXECUTION <
DELIVERY OF THIS GUARANTY TO LENDER AND THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE MANNER SET FOF
IN THE SECTION•TITLED "DI~tATION OF GUARANTY." NO FORMAL ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS GUARA!
EFFECTIVE THIS GUARANTY IS DATED NOVFrUIBER e, 1998. .
THIS GUARANTY FIRS BEEN SIGNED AND SEALED BY THE UNDERSIGNED.
GUARANTOR:
,~
11-06-1998
Loan No 887700A56rt
COMMERCIAL GUARANTY
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IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
SOVEREIGN BANK, successor in interest by merger )
to Waypoint Bank, formerly known as Harris Savings )
Bank )
Plaintiff )
vs. )
LYNNE C. JOHANSEN )
Defendant )
Case No. p'~' .~G 3
Confession of Judgment
CERTIFICATION OF PARTIES' ADDRESSES
I hereby certify that, according to Plaintiff s records, Defendant's last known
address is as follows:
Lynne C. Johansen
102 Limestone Drive
Camp Hill, PA 17011
2. I hereby certify that Plaintiff s address is as follows:
Sovereign Bank
Attention: John Giangrossi
619 Alexander Road, Second Floor
Princeton, NJ 08540
SOVEREIGN BANK, successor in interest by merger to
Waypo' ank formerly own as Harris Savings Bank.
By: ...
Jo iangrossi, ss' tant Vice President
Sworn and subscribed to
before me this ('"~' day of
~e.b~ti¢~~ , 2007
N TARY PUBLIC KATHLEEN COLLINS
HCTARY PUBLIC OF NEWJERSEY
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IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
SOVEREIGN BANK, successor in interest by merger )
to Waypoint Bank, formerly known as Harris Savings )
Bank )
Plaintiff )
vs. )
LYNNE C. JOHANSEN )
Defendant )
Case No. O''j -- 443
Confession of Judgment
AFFIDAVIT OF NON-MILITARY SERVICE
I hereby certify that, to the best of my knowledge, information and belief, Defendant is
not in the military service.
SOVEREIGN BANK, successor in interest by merger to
Waypoint Bank, formerly known as Harris Savings Bank.
By: _
J ian 'Assistant Vice President
Sworn and subscribed to
before me this ~o'`t
day of ~~~,.~., , 2007
NOTARY PUBLIC
KATHLEEN COLLINS
W~TARy'UBIIC OF NE1(V J
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IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
SOVEREIGN BANK, successor in interest by merger )
to Waypoint Bank, formerly known as Harris Savings )
Bank )
Plaintiff )
vs. )
LYNNE C. JOHANSEN )
Defendant )
Case No. Q7 ~QG 3
Confession of Judgment
AFFIDAVIT OF NON-CONSUMER PURPOSE
I hereby certify that, to the best of my knowledge, information and belief, the loan
evidenced by the Promissory Note and the Business Loan Agreement attached to Plaintiff's
Complaint was not made for consumer purposes.
SOVEREIGN BANK, successor in interest by merger to
Waypoint Bank, formerly known as Harris Savings Bank.
By: ~•...
J Gian ossi, ssistant Vice President
Sworn and subscribed to
before me this ~O~' day of
~S?.~ n,~ c~_ , 2007
Q
NO LUNS
4?TARY PUBUC OF NEWJ RSEY
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IN THE COURT OF NTY PENNSYLVANIA
OF CUMBERLAND COU
successor in interest by merger )
SOVEREIGN BANK,
to WayPoint Bank, formerly known as Harris Savings j
Bank ~
Plaintiff ~
vs. ~
LYNNE C. JOHANSEN Defendant ~
To: Lynne C. Johansen
102 Limestone Drive
Cep Hill, PA 17011
Case No. O'7 -4~
Confession of Judgment
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Y GIVEN THAT JUDGMENT IN THE ING S H TIONED
NOTICE IS HEREB
ATTER HAS BEEN ENTERED AGAINO YOU. THE FOLL ED
RDER TO STRIKE THE JUDGMENT AND/AOR
M yOtJ MUST FOLLOW IN
THE JUDGMENT OPENED. PLEASE BE FURTHER ADVI
PROCEDURE ATTORNEY' S FEES AS
SEEK TO HAVE gE~,SONABLE
YOU ARE ENTITLED TO COSTS AND
COURT ¢ YOU Hp,VE BEEN ~COggECTLY IDENTIFIE
DETERMINED BY THE
en" the judgment. In order to do so,
You are entitled to file a petition to "strike" or "op
e a etition with the Court of Common P1 les of C v 1 Procedure You file a
you must promptly fil p ]vama Ru
lvania, as required by Rule 2959 of the Pennsy at the courthouse in Norristown,
Pennsy it with the clerk of courts or Prothonotary
petition by leaving
Montgomery County, PA• the udgment. You must
tition is a formal statement of your reasons for challenging j
Ape ies at the top of the first page and the case number, crate nwnbe d
include the names of the p~ our reasons for challenging the judgment in sep
above. The petition must state y
to si the petition and include a sworn ste teanaeaccurate. eYouf`'~'ill waive
paragraphs. You have ~ ou state in the petition are tru
document verifying that the facts y om etition to strike or open. You must therefore
any defenses and objections not included in y P
11 ossible issues and defenses in your petition to strike or open in
make every effort to raise a p
order to avoid waiving any claims.
~i ..,,
If you elect to file a petition, it must meet the requirements of Rule 2959 of the Rules of
Civil Procedure. A full copy of Rule 2959 is attached to this Notice. You may also have to
comply with local rules of procedure in effect in the county where the judgment was entered.
If you do not file a petition challenging the judgment, the Plaintiff may take steps to
collect on the judgment by asking the Sheriff to seize your assets. Accordingly, you should
immediately seek the advice of attorney. If you wish to discuss the matter with an attorney but
do not know how to find one, you may request a referral by contacting the following agency:
CUMBERLAND COUNTY BAR ASSOCIATION
LAWYER REFERRAL SERVICE
32 S. BEDFORD ST.
CARLISLE, PA 17013
717-249-3166
Corporations maybe unable to represent themselves in court. If the defendants include a
corporation, the corporation must appear through an attorney if it intends to challenge the
judgment.
You may receive other papers and notices regarding the judgment. Those other papers do
not negate or override this Notice. Likewise, this Notice is not intended to and does not negate
any of the notices or information obtained in other papers that maybe served upon you.
We reiterate that you are required to act promptly if you wish to seek relief from the
judgment. Under certain circumstances, you have only 30 days in which to file a petition after
papers are served on you. Even if the 30 day rule does not apply, you must act promptly in order
to protect your interests. Failing to act in a timely manner will render you unable to challenge
the judgment at a later time.
If you were incorrectly identified and the judgment was entered against you in error,
you may be entitled to collect costs and reasonable attorney's fees as determined by the Court.
LAMM RUBENSTONE LESA
BUTZ & DAVID LLC /,
Zachary J. C z~ squid
Attorney N
7535 Windsor Drive, Suite 200
Allentown, PA 18195
(610) 706-4300
Attorneys for SOVEREIGN BANK, successor in
interest by merger to Waypoint Bank, formerly
known as Harris Savings Bank.
355473-1
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IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
SOVEREIGN BANK, successor in interest by merger
to Waypoint Bank, formerly known as Harris Savings
Bank
Plaintiff
vs.
LYNNE C. JOHANSEN
Defendant
Case No.Q'`J . 4(~
Confession of Judgment
NOTICE OF FILING JUDGMENT
(X) Notice is given that a judgment by confession in the above captioned matter has been
entered against you in the amount of $ ~~j/T32~ ~ (~ on ,~ ,
20~. -
(X) Copies of all documents filed with the Prothonotary/Clerk of Courts in support of the
within judgment is/are enclosed.
P OTHO . RY/C RK OF COURTS
Per:
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~~
If you have any questions concerning this judgment, please contact the following person:
Zachary J. Cohen, Esquire
One Windsor Plaza
7535 Windsor Drive, Suite 200
Allentown, PA 18195
(610) 706-4300
(THIS NOTICE IS GIVEN IN ACCORDANCE WITH PA.R.C.P. 236)
356278-1
IN THE COURT OF COMMON PLEAS
OF CUMBERLAND COUNTY, PENNSYLVANIA
SOVEREIGN BANK, successor in interest by merger
to Waypoint Bank, formerly known as Harris Savings
Bank
Plaintiff
vs.
LYNNE C. JOHANSEN
Defendant
AFFIDAVIT OF SERVICE
COMMONWEALTH OF PENNSYLVANIA )
SS
COUNTY OF CUMBERLAND )
Case No. 07-963
Confession of Judgment
Dennis Huber, being duly sworn according to law, deposes and says that he is an
adult over the age of eighteen (18) years; that he served the items listed below on Lynne C.
Johansen by handing them to Lynne C. Johansen personally at 102 Limestone Drive, Camp Hill,
Pennsylvania 17011 on March 24, 2007, at 1:30 p.m.
(a) Warrant of Attorney;
(b) Complaint in Confession of Judgment; and
(c) Notice Under Rule 2958.1.
Deponent further avers that at the time of said service the said Defendant identified
herself to deponent.
Dennis Huber
SWORN TO AND SUBSCRIBED
B ORE ME THIS SAY OF
2007
Notary blic
COMMONWEALTH OF PENNSYLVANIA
Notarial Seal
Jane M. Beds, Notary Pubnc
North Whi6ehall Twp., LehlgFt County
My CAmmissbn E~ires Aug. 26, 2008
Member, Pennsvivania Rssoaiation of Notaries
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