HomeMy WebLinkAbout97-00899
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Cberewka & Radcl(ff. LLP
3905 Nonh I'om, Sire"', lIarri.bul'll, l'cnnsyIV;lnl. 17110
(717) 232.,j701 !'ax (717) H2.4774
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HQ:rI
FEBRUARY 17, 1997
$ 25,000.00
FOR VALUE RECEIVED, MRS. STAMM'S BAR-B-Q, INC., of Cumberland
County, Pennsylvania ("Debtor"), promises to pay to MICHAEL
CHEREWKA, ESQ., an adult individual of Harrisburg, Dauphin County,
Pennsylvania, or its Assignee ("Payee") at the address as noted
herein, or at such place as the holder thereof may from time to
time designate, in writing, the sum of TWENTY-FIVE THOUSAND
($25,000.00) DOLLARS AND 00/100 without defalcation, together with
interest thereon at the rate of Eight and 1/2 (8 1/2%) Percent per
annum compounded monthly. Said amount is due and payable in one
lump sum one day after the date of this Note.
Principal and interest computed and payable as herein provided
shall be payable without relief from valuation or appraisement
laws, and with attorney's fees, costs and expenses of collection in
the event that this Note is referred to an Attorney for enforcement
of collection.
This Note shall, at the option of the holder hereof, become
immediately due and payable, including any interest due thereunder,
upon Maker's failure to pay any sum provided for herein when due,
or upon the happening of any of the following events affecting the
Maker: Voluntary or involuntary filing of a petition in bankruptcy
or reorganization, execution of an assignment for the benefit of
creditors, liquidation of Debtor's business, appointment of a
receiver by a court of competent jurisdiction, which appointment
shall not have been vacated within a period of thirty (30) days
after the appointment of such receiver.
No delay on the part of the Payee or holder thereof in
exercising an option shall operate as a waiver or prelude the
exercise of such option at any time during the continuance of any
such default.
The holder thereof may, at its option, make extensions of the
time for payment of indebtedness, or any part thereof, or reduce
payments thereon, and Debtor consents and agrees to any such
extensions or reductions, all without notice, and agrees that any
such action by the holder of this Note shall not relieve it from
liability hereunder. Debtor hereby waiver presentment for payment,
notice of dishonor, protest, notice of protest, notice of
nonpayment of this Note and diligence in collection thereof. The
construction, interpretation and enforcements of this Note shall be
governed by the laws of the Commonwealth of Pennsylvania.