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Home My WebLink About97-02296 o. ,,'c. q1- d~q(o C~ T<!rI""'\ JUDGMENT NOTE $ 20,000,00 March 26, 1997 LEE R. SEITZ and JUDITH A. SEITZ, his wife, Obligors herein, hereby promise to pay to RICHARD H. SWARTZ and MARY L. SWARTZ, his wife, the principal sum of $20,000.00 Dollars, with interest thereon at the rate of eight and one-half (8.5%) per cent per annum, in monthly payments of at least $247.97, to be applied first to interest then due and balance to principal, commencing May 1, 1997 and on the first day of each month thereafter, and the full remaining balance of principal and interest, if not sooner paid, shall be due and payable on April 1, 2002. All payments shall be made in lawful money of the United States of America. Obligors shall have the right and privilege to prepay all or any part of this obligation without penalty, Upon their failure to pay principal or interest in accordance with the terms hereof, Obligors shall be in default of this Note and the full remaining balance of principal shall become immediately due and payable without presentation or demand or notice of protest or other notice of any kind, all of which are hereby released and expressly waived, Any forbearance or failure to take immediate action by Obligees upon any default shall not be considered a waiver by Obligees of any of their rights herein or hereunder. In the event of litigation by Obligees to collect any sum due under this Note, Obligors shall indemnify Obligees and save them harmless of and from all expenses incurred in connection with such litigation, including but not limited to reasonabl~ attorney's fees and court costs. Whether or not Obligors are in default of this Note, but only on or after April 10, 1997, Obligors do hereby authorize and empower the Prothonotary or any attorney of any court of record of Pennsylvania or elsewhere to appear for and enter judgment against them for the amount then due, with reasonable attorney's fees and costs, with or without stay of execution; and Obligors also waive the right of inquisition on any real estate that may be levied upon to collect upon this Note, and do hereby voluntarily condemn the same and authorize 1 " DISCLOSURE FOR CONFESSION OF JUDGMENT I AM EXECUTING, THIS .<(/~ DAY OF ME TO REPAY THAT AMOUNT TO RICIIAIlD fi{a.~ ~ II. SWARorZ $20,000.00 o 19-22., A PROMISSORY NOTE FOR ~~~1I OBLIGATING AND NAllY L. SWAR1'Z. A, I UNDERSTAND THAT THE NOTE CONTAINS A CONFESSION OF JUDGMENT PROVISION THAT WOULD PERMIT LENDER TO ENTER JUDGMENT AGAINST ME IN COURT, AFTER A DEFAULT ON THE NOTE, WITHOUT ADVANCE NOTICE TO ME AND WITHOUT CFFERING ME AN OPPORTUNITY TO DEFEND AGAINST THE ENTRY OF JUDGMENT, IN EXECUTING THE NOTE, BEING FULLY AWARE OF MY RIGHTS TO ADVANCE NOTICE AND TO A HEARING TO CONTEST THE VALIDITY OF ANY JUDGMENT OR OTHER CLAIMS THAT LENOER MAY AS5ERT AGAINST ME UNDER THE NOTE, I AM KNOWINGLY, INTaLlGENTLY, AND VOLUNTARILY WAIVING THESE RIGHTS, INCLUDING ANY RIGHT TO AOVANCE NOTICE OF THE ENTRY OF JUDGMENT, AND I EXPRESSLY AGREE AND CONSENT TO LE.~OER'S ENTERING JUDGMENT AGAINST ME BY CONFESSION AS PROVIDED FOR IN THE CONFESSION OF JUDGMENT PROVISION. B. I FURTHER UNDERSTAND THAT IN ADDITION TO GIVING LENDER THE RIGHT TO ENTER JUDGMENT AGAINST ME WITHOUT ADVANCE NOTICE OR A HEARING, THE CONFESSION OF JUDGMENT PROVISION IN THE NOTE ALSO CONTAINS LANGUAGE THAT WOULD PERMIT LENDEn, AFTER ENTRY OF JUDGMENT, TO EXECUTE ON THE JUDGMENT BY FORECLOSING UPON, AT1'~CHING, LEVYING ON, TAKING POSSESSION OF OR OTHERWISE SEIZING MY PROPERTY, IN FULL OR PARTIAL PAYMENT OF THE JUCGMENT. HOWEVER, LENDER MUST PROVIDE NOTICE TO ME UNDER APPLICABLE LAW IN EXECUTING ANY CONFESSED JUDGME.~T. IN EXECUTING THE NOTE, BEING FULLY AWARE OF MY RIGHTS TO ADVANCE NOTICE AND A HEARING AFTER JUDGMENT IS ENTERED AND BEFORE EXECUTION ON THE JUDGMENT, I AM KNOWINGLY, INTaLlGENTLY AND VOLUNTARILY WAIVING THESE RIGHTS, AND I EXPRESSLY AGREE AND CONSENT TO LENDER'S EXECUTING ON THE JUDGMENT, IN ANY MANNER PERMIT1'ED BY APFLICABLE STATE AND FEDERAL LAW. C. AFTER HAVING REAO AND DETERMINED WHICH OF THE FOLLOWING STATEMENTS ARE APPLICABLE, AND BY PLAC:NG MY INITIALS NEXT TO EACH STATEMENT WHICH APPLIES, I REPRESENT THAT: INITI~ ~ 1. I WAS REPRESENTED BY MY OWN INOEPENDENT LEGAL COUNsa IN CONNECTION WITH THE NOTE. 2. A REPRESENTATIVE OF LENDER SPECIFICALLY CALlED THE CONFESSION OF JUDGMENT PROVISION IN THE SOTE TO MY ATTENTION. D. I CERTIFY THAT MY ANNUAL INCOME EXCEEDS S10,OOO: THAT THE BLANKS IN THIS DISCLOSURE WERE FILLED IN WHEN I INITIALED ANO SIGNED IT: AND THAT I RECEIVED A COPY AT THE TIME OF SIGNING. ::~:::~'-c::;"[l~" LEF. R. SEITZ THE UNDERSIGNED. (SEAL) .' DISCLOSURE FOR CONFESSION OF JUDGMENT I AM EXECUTING, THIS :<,,14- DAY OF ME TO REPAY THAT AMOUNT TO III CIIIIRD ~/ L $20,000.00 m .:1- , 19..1l.0 A PROMISSORY NOTE FOR SJIilDOUIXOBLIGATlNG II. SWIIHTZ IIND MI\IlY I.. SlillHTZ, A. I UNDERSTAND THAT THE NOTE CONTAINS A CONFESSION OF JUDGMENT PROVISION THAT WOULD PERMIT LENDER TO ENTER JUDGMENT AGAINST ME IN COURT, AFTER A DEFAULT ON THE NOTE, WITHOUT ADVANCE NOTICE TO ME AND WITHOUT OFFERING ME AN OPPORTUNITY TO DEFEND AGAINST THE ENTRY OF JUDGMENT, IN EXECUTING THE NOTE, BEING FULLY AWARE OF MY RIGHTS TO ADVANCE NOTICE AND TO A HEARING TO CONTEST THE VALIDITY OF ANY JUDGMENT OR OTHER CLAIMS THAT LENDER MAV ASSERT AGAINST ME UNDER THE NOTE, I AM KNOWINGLVo INTELLIGENT1.Yo AND VOLUNTARILV WAIVING THESE RIGHTS, INCLUDING ANY RIGHT TO ADVANCE NOTICE OF THE ENTRY OF JUDGMENT, AND I EXPRESSLY AGREE AND CONSENT TO LE.~DER'S ENTERING JUDGMENT AGAINST ME BY CONFESSION AS PROVIDED FOR IN THE CONFESSION OF JUDGMENT PROVISION. B. I FURTHER UNDERSTAND THAT IN ADDITION TO GIVING LENDER THE RIGHT TO ENTER JUDGMENT AGAINST ME WITHOUT ADVANCE NOTICE OR A HEARING, THE CONFESSION OF JUDGMENT PROVISION IN THE NOTE ALSO CONTAINS LANGUAGE THAT WOULD PERMIT LENDER, AFTER ENTRY OF JUDGMENT, TO EXECUTE ON THE JUOGMENT BY FORECLOSING UPON, ATTACHING, LEVYING ON, TAKING POSSESSION OF OR OTHERWISE SEIZING MV PROPERTY, IN FUll OR PARTIAL PAVMENT OF THE JUDGMENT. HOWEVER, LENDER MUST PROVIDE NOTICE TO ME UNDER APPLICABLE LAW IN EXECUTING ANV CONFESSED JUDGMENT. IN EXECUTING THE NOTE, BEING FUllY AWARE OF MY RIGHTS TO ADVANCE NOTICE AND II HEARING AFTER JUDGMENT IS ENTERED AND BEFORE EXECUTION ON THE JUDGMENT, I AM KNOWINGLY, INTELLIGENT1.Y AND VOLUNTARILY WAIVING THESE RIGHTS, AND I EXPRESSL V AGREE AND CONSENT TO LENDER'S EXECUTING ON THE JUDGMENT, IN ANY MANNER PERMITTED BY APPLICABLE STATE AND FEDERAL LAW. C, AFTER HAVING REAO AND DETERMINED WHICH OF THE FOllOWING STATEMENTS ARE APPLICABLE, AND BY PLAC:NG MY INITIALS NEXT TO EACH STATEMENT WHICH APPLIES, I REPRESENT THAT: INITIALS ~ 1. I WAS REPRESENTED BY MY OWN INDEPENDENT LEGAL COUNSa IN CONNECTION WITH THE NOTE. I . 2. A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THE CONFESSION OF JUDGMENT PROVISION IN THE NOTE TO MY ATTENTION. D. I CERTIFY THAT MY ANNUAL INCOME EXCEEDS S10,000; THAT THE BLANKS IN THIS DISCLOSURE WERE FillED IN WHEN I INITIALED AND SIGNED IT; AND THAT I RECEIVED A COpy AT THE TIME OF SIGNING. THIS DISCLOSURE HAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED. AFFIANT:,} "{' I ' ,I X \ / IdJ.l " JUDITH A. SEITZ J II' n,t;' 1__/// t' .. :17 ) (SEALI i cI I. l!!l < , I:. '-~ l~, C 1..1_' -' if.: '. '.. oJ' I": _1 I ~) ~ ~) , ' -' ~ - d <..) cJ :::. .>0 ~ -&1 . - " 0 (}o If) . a /.{) ;'.! 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