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HomeMy WebLinkAbout97-03861 AMOUNT $783.02 DATE AND PLACE April 25, 1991 Mechanicsburg, PA PROMISSORY JUDGMENT NOTE FOR VALUE RECEIVED, AND INTENDING TO BE LEGALLY BOUND, Lisa P. Moore, of P.o. Box 352, Mechanicsburg, Cumberland County, Pennsylvania 11055 (hereinafter whether singular or plural called the "Maker") promises to pay Fenstermacher and Associates, of 5232 East Trindle Road, Mechanicsburg, Cumberland County, Pennsylvania (hereinafter called the "Holder") the sun of Seventy Eighty-three and 02/100 ($183.02) Dollars lawful money of the United States of America. This Note is being executed by Maker in connection with a business transaction of Seventy Eighty-three and 02/100 ($183.02) Dollars whereby Maker has incurred the principal amount of in legal fees due and owing to Holder. You have agreed to pay to this office the amount of Twenty-five ($25.00) Dollars at the signing of this Promissory Judgment Note. This obligation shall bear interest at the annual rate of one and one-half (1 1/2) percent per month. Maker shall pay the sum of no less than One Hundred Fifty ($150.00) Dollars per month, due on the 15th day of each month, commencing May 15, 1997. The remaining outstanding balar.ce with any accrued interest shall be due and payable on or before November 15, 1997, The full amount due hereunder shall be due and payable on demand by Holder. Maker does hereby empower the prothonotary, clerk of court or any attorney of any court of record in the Commonwealth of Pennsylvania, at any time before or after maturity whether or not any default has occurred, to appear for it and, with or without declaration filed, confess judgment against it for the above sum with costs of suit, release of errors, and without stay of execution, and with five (5\) percent added as part of the judgment for attorney's fees for collection. Maker fully understands and agrees to the attached Explanation of Rights which is incorporated herein by reference. THIS NotE MAY BE RECORDED AS A JUDGMENT AGAINST THE MAttER WITHOUT PREVIOUS NOTICE TO HAKER AND MAY HAVE AN IMPACT UPON THE CREDIT HISTORY OF THE MAKER. The failure of Holder to declare this Note due and payable on the Maturity Date or at any other time shall not constitute a waiver of any of Holder's remedies, and the sa.. shall be available to Holder until such time as this Note is satisfied, ~XPLANATION OF RIGHTS A. I clearly and specifically understand that by signing the foregoing Promissory Judgment Note dated even date herewith in the amount of Seventy Eighty-three and 02/100 ($783.02) Dollars (the "Note"), payable to Fenstermacher and Associates (hereinafter the "Holder") which contains a confession of judgment clause: 1. I will authorize the Holder to enter a judgment against me in Holder's favor which will give the Holder a lien upon any real estate which I may own, including my home. 2. I will give up the right to any notice or opportunity to be heard prior to the entry of this judgment on the records of the court. 3. I wi 11 agree that the Holder can enter this judgment without any proof of nonpayment or other default on my part. 4. I will subject all of my property, both personal property and real estate, to execution (and sheriff's sale) pursuant to this judgment prior to proof of nonpayment or other default on my part. S. I wi 11 be unable to challenge this judgment, should the Holder enter it, except by a proceeding to open or strike the judgment; and such a proceeding will result in attorneys' fees and costs which I will have to pay. 6. I know and understand that it is the confession of judgment clause in the Note which gives the Holder the rights enumerated above. B. IF I DO NOT SIGN A NOTE WHICH CONTAINS A CONFESSION OF JUDGMENT CLAUSE. I UNDERSTAND I WOULD HAVE THE FOLLOWING: 1. The right to have notice and an opportunity to be heard prior to judgment. 2, The right to havp. the burden of proving default rests upon the Holder before my property can be exposed to execution. ), The rlqht to avoid th~ ~~ditional expense of attorneys' {{'es and costs incident: to the opening or striking off a confessed judgment.