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Home My WebLink About97-02743 ~ ~ ~ .J ~ ~ r ~ ~ " u '.. ':) \. ~ V} ~ , t' ~ v '~ ., .$ ':~ ;~.~ :-~ ~\1 ,.;~~~ ,). t~ l)~ _'i.':~ :;~-Q 'q, fit ~'~~',J-~ " )]?; .-~,11; .)~ '-..'J l ':~H '-"'1'\' . :'~ ,~~ -:~S' / ( I ; i AGREEMENT AND NOW comes Riccio Custom Crafted Homes, Incorporated (Riccio, Inc.), H S service Corporation, Trustee for Meadowlands Joint Venture (H S), Harris savings Bank (Harris) and David R. Riccio and Deneen C. Riccio, husband and wife, (Riccios) this lo~ day of November, 1995 and state: 1. That Riccio, Inc. is obligated to Harris on a construction mortgage loan in the original principal amount of One Hundred and Eighty-Five Thousand Dollars ($185,000.00) which loan is in default; and 2. That the debt owed to Harris by Riccio, Inc. is guaranteed by the Riccios, individually; and 3. That Riccio, Inc. is indebted to H S, in the original principal sum of Forty-six Thousand, Five Hundred Dollars ($46,500.00) plus interest at the rate of ten (lot) percent per annum which obligation is also in default; and 4. That the Riccios and Riccio, Inc. have requested that Harris and H S delay, for a period not to exceed six (6) months, enforcement of their debts, liens and guarantees for the purpose of permitting Riccio, Inc. and the Riccios to sell the security property situated at Lot #66, Winchester Park, Lower Paxton Township, Pennsylvania for the best possible price and work out an agreement with their realtors such that Harris and H S will be paid as set forth below out of the proceeds of the sale and/or other assets of Riccio, Inc. or the Riccios; and EXHIBIT I /I 5. That H 5 and Harris have requested as consideration for a delay in enforcing their debts, liens and guarantees additional security from the RiccioSi and 6. That H 5 has agreed to the extent that Lot #66, Winchester Park security property can not be sold for a sum sufficient to repay Riccio, Inc.'s debt to Harris in full and to repay H 5 its principal sum plus interest in full that H 5 will accept a lesser payoff so long as the terms hereof are meti and 7. That to the extent that the net recoverable proceeds exceed an amount sufficient to pay Harris' debt in full, including all interest, costs and penalties, and the principal amount of Riccio, Inc.'s debt to H 5, H 5 will require in order to satisfy the debt that fifty cents of each additional dollar go to H 5 and fifty cents towards the realtors commission up to the full amount of the real estate commission. NOW THEREFORE the parties do hereby agree as follows: A. That the Riccios shall contemporaneously herewith grant to H 5 a third position mortgage in the amount of $46,500.00 payable six (6) months from the date hereof without interest, as additional security for debts owed to H 5. B. That H 5 agrees to release the lien against the Riccios' principal residence upon the paymont to it of $46,500.00. C. That H 5 agrees to release the lien of its mortgage against Lot #66, Winchester Park for $46,500.00 plus one-half (~) of the excess proceeds of the sale of Lot #66 over and above the closing costs including only transfer tax, a tax proration, delinquent taxes and other municipal charges and the Harris Mortgage so long as said sum is paid prior to ~ May, 1996 but in the event said amount of at least $46,500.00 is not paid or Riccio, Inc. or the Riccios fail to comply herewith then the full amount of the Riccio, Inc.'s debt to H S shall be due and collectable. D. That H S agrees, in consideration of the promises and commitments made herein, to refrain from taking enforcement action with respect to its debt secured by Lot #66, Winchester Park so long as Riccio, Inc. continues to actively market the property and permits no additional encumbrances to attach to the premises including by not limited to a lien for delinquent taxes, state and federal taxes or any other judgment or municipal lien which would adversely affect the ability of Riccio, Inc. to sell the premises. E. That Harris, in consideration of the conditions that the Riccios remain current on their home mortgage, and that Riccio, Inc. permits no liens, municipal charges or other judgment to further encumber Lot #66, Winchester Park hereby agrees to extend the maturity date of its note and mortgage on Lot #66, Winchester Park to ~ May, 1996 at which time and not withstanding any other terms or conditions contained in the mortgage or note with respect to the Winchester Park premises collection action including foreclosure may commence without further demand or notice. F. That time is of the essence of this agreement and to the lilt' '" .::: ~~.::~ <JU """. I ,.,.L 1.::. I .: V go , .' I 1_ L. t_ t II'~ 1_ J ':-1_ I.:., ..'- -~ .01# ,.;2 fy If; -1- .t-/ qonEIIT !', llC~lfA n~conDEn or DEEDS ';UMnEIIL^"1l COUIITY. r~ '95/lDl/ 15 RI'IID 13 S46.noo.oo MORTGAGE THIS IlORTGAGE, mada the to'! day ot ~M-.l...M.. , 18...26:', batwaen DAVID R. RICC'rO And.. DENEEN C. RIccro. husbl'lnd ant! Vita, (h8l:einatter called the "Hort;a;or") wllone addrael is 4 GUnllowclRI: Road, Mocllanicobura, PennsVlvania ot ehll ana part, and K s SERVICE CORPOR1,TION TRUSTEE FOR IIEllQQ!:ltlllllll .i10INT VENTURE (hero1narUr oallod tho "Hortgagoo"), a .Il9rDoratioll orllanbad and existing undor thl lawo at Ponnaylvania at the othor part, wllosa addrasg 18 Sooond and Ping strogtn. P.o. no~ 1711. Harriabura. PA 1Z12li1 WHEREAS, Mortgagors Drll tha principals at Riccio CUltom Cratted Hamel, Ino., wllich hae executed a certain Mortgage Hate in lavor at H S Snrvico Corporation in tho amount at Forty Six Thouland Five Hundred and 00/100 ($46,500.00), plus interest, and whereas oortain' circum.tancos havo arisan whoroby H S Service Corporation il requesting additional sacurity with respect to said Hortgaga Noto. Mortgagors havo executod contemporaneoualY herewith, an Agreomont socurod by this Mortgage obligatin; Mortgagor to pay to Mortgagao the sum at Forty Six Thousand Five Hundr.d and 00/100 ($46,500.00), payable to H S Service corporation without intnreot ao additional security ao abave eet torth in oaid ^greemlnt nterenao to which is hereby made and subjeot to the conditions thet the'amount heraby oeourod .IIall be payable in full without intereot on or before ~ Hay 1996. NOW THEREFORE, Mortgegor, in consideration of thl Itorloeid debt or principal sum and ao security for tho payment of thl saml a. etore.aid, does grant and oonvoy unto the oaid llortgaqoG, it. SUccosBorB and Aosignol ALL THAT CERTAIN tract at lend au attachod in Exhiblt "A" atteohod horlto. PROVIDED, HOWEVER, that it Mortgagor ohall pay to Mortqagoe thl aforeodd dobt or principal SUIll, lncluding additional loans and advancos and ell othor oum. payable by Mortqallor to Mortgageo horeunder and undor tho torms at the ^qreomontl. and shall keop and pertorm Rech at thG other covenants, condlt onll end aqreomanto IIereinafter eat tarth, then thill Mortgage and tho ootate hereby granted and conveyed IIhall bscome void. Thh Mortgagor io exscutCld and deliVered sUbjeot to the tollowing covenanto, conditione and agroomClntsl (1) From time to Uma until oaid dobt are tully paid, Mortgagor shall (a) pay and diocllarge, whon end as tile Bame shall bRcoms due and payable, all taxeD, aDooo.monta, eower and watsr ronts, and ell other chergsB and claimB aoeeoood or levied trom tlma to time by any lawtul authority upon any part at the mortgegad promhu and which ohall or might havo priorlty in lien or payment to thR dobts oocursd hereby (b) pay all ground rants rooorved trolll the mortgaged premillo Ind pay and d!Bcherge ell mochanics' 110ns whioh mey be, tiled againlt Baid premisoo and which ohall or might have priorlty in lien or peyment to thl debt lie cUred horeby, (c) pay and dlscharllR any documontary etamp or other tax, includin; penoltiee tllereon, it any, n~w o~ tlle~eottor bocominll payable on tho Nots evidoncinq the debt secured thereby, (d) provlde, renew and keep alivo by paying the necoGoary premiumo and bOod231 rACE 514 EXHIBIT I /j "'.03 t .' .',":. \...-.i , . -' "-"" l '... . l _', " '.. II.' ,_. l _'L I., 1-'. e.;,.J oharga. tharoon oUOh PolLoi.a oC hazard and liability insuranca as Hortgagoa may tram tima to tims ra~uira upon the buildings and improvements ~ow or hareattar araoted Upon tho 11I0rtgaged prolllhos, with 1000 payable clauus in tavor at Hortgagor nd Hortgagee aa thair rupocti ve intarest may appoar and, Co) promptly SUbmit to Hortgsgae evidence at tho due and punotual paymant at all tha t01'8goin9 ohargoa, provided, howevar, that Hortgageo may at ita option reqUire that auma auttioLont to disoharge tho torogoini chari" be Paid in in.tallment. to mortgageo. (2) Hort9a90r shall maintain all buildingo and improvement. sUbjoot to thia Hortiage in good and aUbstantial repair, a. detarmin.d by MortgageD, Mortga9uo ahall have the ri9ht to enter upon ths mortgagad promises at any reasonabla hour tor tho purpose at inspecting tha ordar, condition and rapair at the buildinge and improvemonte araoted therlon. (3) In tho evunt Mortgagor noglacte,or ratueoo to pay the charg.. mentioned in (2) SUpra, or taLls to maintain tha buildings and improvements ad etoresaid, Mortgagoo may do so, add I:ha ooet thoreot to tho principal dobt eecurad haraby, and oolloct tha eamo as a part at eaid principal dabt. (4) Hortga90r covenants and a9roos not to oraata, or parmit to eccrua, Upon all or any part at the mortga9ad premisu, any dabt, lien or charge whioh would ba prior to, or on a parity With, the lian ot this Mort9age. (6) In caua detault bo mad a in that the entire principal balanoe without interast hss not baan paid on or betore tha due datI haroot, or in the purtormance by mortgagor at any ot the othar obli9atLons at tho A9relmont or this Mortgage tha antira unpaid balanou at $46,500, 'shall at the option at Mortgagaa and without noUce bucoma immediately dua and payable, and toraoloaura proceedings may ba brought forthwith on thia Mortgage and prosaoutad to jUdgement, execution and sale tor the collection ot tho eamo, togather with oosta ot suit and an attornoy's commission tor collection ot tive psrcent at the total indebtedness or $200.00, whichevsr La the larger amount. Mortga90r hereby torever waives and rsla8se9 all errOre in aaid prooeedings, waivss stay ot axecution, the right at inquisition and extension ot time at payment, and agress to oondumnation ot any propsrty levied upon by virtue at any such axeoution. " (7) It all or lIny part ot thu mortgaged property or an intarest therein i8 sold or traneterred by Mort9agor without Mortgagea's prior written consent, exoluding Ca) the craation ot a lien or encumbranca 9ubordinato to this Mort9a9a, Cb) the creation at a purchase meney security interost tor hOUeehold applianceo, or (c) a transter at devlu, doscent or by opuration at law upon the doath at a joint tanant, Mortgagee may, at Mortgagee'a option, daclare all tho sums secured by this Mortgage to be immodiately due and payable. The covenant a , condi tiona and agreamonte containad in thLa Mortgag. ehall bind, llnd the benetits tharaot ehall inure to, thu r8apsctiva partias horoto and thair respective SUcclasore and assigns, and it thie Hortgllga is executed by mora than one person, the undQrta~inga and liability ot sach shall ba joint and seve:al. aooK1P.91 PACe 515 "'_.' M' . , ,.'. -..;. .1 _'......~ III WITNESS lfIlEREOr, Hortl/al/or hu eX8cut811 th1D Hortl/al/a on the day anll y.ar firat above writt.n. , Se.1811 and Daliverall 1n the P~eaanae at ua , , Xt i.'h.~eby a.~tltied that tho IlIdres. af the Hartqaqoe within nalllod ill 0,"- Henion" Ruban. 100 Chestnut St.. Suitll ~07 ""..!"4"burQ' PA 17'101 , ~~ H ORTGAGORS ~l bJu,- '-.I J.1"a; ~(l//l~ VID R. RICCIO , .fJuuDHJC 'ft,~J;;; DEIISEN C. RICCIO booK1201 pm &10 3 . n. ~. . '.' 11.'.1_ . --' ,...... . EXHIBIT "A" .... ALL TIUlt CCRTAIN traat or paraa1 ot land .1tuat. 1n Silver Spring Townohip, eUlIlbRrlftnd Caunty, Ponnnylvon111 ftlat'II partioull1rly boundod and de'cribad 1n aaaordllnao with tne <<.jor Final SUbdLvloion 1'1." tor 1'hll Ponlneula (Phaee X) prepared by H. Edward Dleck , ^,eoaiatu, P.c., mora partIcUlarly bounded alld dosaribed as tallOWS, to witl llllGXHllING at a concrete monumont ell tho eutorn right-at-war Une at GUnpoWder Iload (!l0 tut right-at-way), lit tho diViding 1 ne .' between Let 125 and Lat 124, THENCE along tho dividing 11ne botwBen Lot 125 and Lot 124, Narth 77 doyre.s 15 minutes 16 .aaenda Eaet, a distanaB Of 210.10 teet to an iron pin on the wootern right-af-way lin8 at Ilnmpla llridge Rand (T-5P6)1 THCNCE alang tha Woe tern right-ot-way lino or Somplo llr1d90 nOod (T-SVe), South Ii dlgreol 44 minutoe 44 seaondo tast, II diotonae at 232.79 tllOt to an iron pin at tho dividing lino botweon Lot 123 and Lot 124/ THENCI: olong the dividing line betweon Lot 123 and Lot 124, North BB degrooe J5 min~tos 27 saconds Wast, a distanaD at 259.01 toot to a conoreto monumant on tho cul-de-sac and oaotern riqht-ot-way 1ino oC GUnpowder Road, THENCG along tho OUl-do-aao nnd saetorn ri9ht~ot-way lino or r-UnpowCler ROlld the fOllollin9 taur COU1'ool alld distancosl (1) on nn arc to the latt hnvinq a radius at 50.00 taet and an aro length 37.17 teet to .n iron pinl (2) on an arc to tho right hsvin; a radius oC 25.00 teet and an era longth at 21.03 tsot to an iron pin, (3) North 07 dOllreea 00 minuteD 00 Dsoondo East, a distance ot 89.67 fist to nn iron pin; (4) on a curVQ to the laCe having I radius at 32G.oo teat and arc length at JO.oo toot to a ooncrllh monument on the ooat.rn right-aC-IIay line ot GunpoWdor Road, tho point ond place at bEGINNING. CONTAINING 1.1261 aarBS, more or lOSB, llllXNG Lot 124 on the Major Pillnl SUbdividon Plan tor Tne Pnn1nauh (Phaoe I) I\S rocordad in the OUice ot the ROCol'der at Ooeds in and tor C~mber1ana County, in Plllll Baak GS Pa9'e 20. UNDER 1III0 SUDJt:CT, NEVCRTHELESS, to l"aetriotions, casomonts, and conditions Of prior record. BEING THE S~!Il PREMISIlS HUICH sample Bridge Ar.sooiatcs, a Ponnsylvania qeneral partnerShip, by its Dead datad February 11, 1993 and in the ottice ot the Recordar of Deeds at Cumbarland County, l'ennuylvania, in Ooad Book 0, Vol Un!O 36, Pago ~701 9ran~od and conveyod unto David R. nicaio and Oonun C. Riaaio, h B wito, the l1ortgll90ra liarein. .. . " ,I' aood?91 fACt 518 . . H S SERVICE CORP., TRUSTEE Plaintiff v. IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSVLV AMA CIVIL ACTION. LAW DAVID R. RICCIO and DENEEN C. RICCIO, Dcfcndants NO. 97.2743 CIVIL 1997 PRAECIPE FOR ENTRY OF JUDGMENT TO THE PROTHONOTARY Cumbcrland County Courthouse One Courthouse Square Carlisle, PA 17013 Please enter jUdgment in favor of Plaintiff, H S SERVICE CORP., TRUSTEE and against Defendants, DAVID R. RlCCION and DENEEN C. RICCIO in the wnount of $53.600,00. Defendants were served with a 10 Day Notice dated and served June 23, 1997 as evidenced by the copy of said Notice and Certificate of Service attached hereto and incorporated herein as Exhibit A. a. b, c, Principal Interest thru Distribution (12/10/97) Attorney's fees $46,500,00 4,650,00 2.450,00 $ 53.600,00 TOTAL AMOUNT: Plus additional costs and expenses of suit and actual expenditures to preserve security until date of distribution, Date: 7/.3/Q 7 I I / RespectfulJy su~~~ By ~4~ Richard C, Ruben, Esquire Attorney for Plaintiff 113 Locust Street Harrisburg, PA 17101 (717) 232-2227 1.0, #27767 .) ~ 0 ~ u: h. 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