HomeMy WebLinkAbout97-06461
4. To evidence its obligation to repay the Loan, the
Defendant executed and delivered to CoreStates a bond for the
Loan, wherein the Defendant promised to pay CoreStates the
principal amount of Two Hundred 'rwo Thousand Dollars
($202,000.00) together with interest at the rate set forth
therein (the "Note"). A true and correct copy of the Note is
attached hereto, marked Exhibit "A," and incorporated herein by
reference.
5. The Note provides that interest will accrue on the
principal sums advanced at a flo~ting per annum rate of
CoreStates' Prime Rate plus one-half percent (.50%).
6. The Note is secured by a mortgage executed and
delivered by the Defendant to CoreStates dated April 27, 1992
(the "Mortgage") covering certain property located at 3600 Old
Gettysburg Pike, Camp Hill, Pennsylvania (the "Property") which
Mortgage is recorded in the Office of the Recorder of Deeds in
and for Cumberland County in Book 1066, Page 227 and the judgment
herein relates back to such mortgage. A true and correct copy of
the Mortgage Is attached hereto, marked Exhibit "B", and
incorporated herein by reference.
7. An event of default has occurred under the Note
due to nonpayment.
8. As of November 13, 1997, the outstanding principal
balance of the Note was $124,653.46, together with accrued and
unpaid interest in the amount of $4,871.06 which totals
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Exhibit A
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EOND ADDENDUM TO $202,000 BOND DATED _ \'Wl.\\., l1
SUSQUEHANNA VALLEY ASSOCIATES
, 1992
THE CONDITION OF THIS BOND IS SUCH, that if Obligor shall
pay unto Obligee the aforesaid princJ.pal sum of Two Thousand Two
Hundred and 00/100 Dollars ($202,000.00), together with interest
as stated below and in the manner stated below:
The Eond shall have a term of five years and 70 days. For
the initial seventy days of the Bond, the interest rate will be
at a fluctuating rate of interest per annum equal to Hamilton
Bank's Prime Rate as in effect from time to time, plus .50%.
This interest will change when and as Hamilton Bank's prime rate
changes. Interest will be calculated on a 360 day over 360 day
basis. Interest will be payable monthly, upon submission of the
Bank's statement therefor.
On July 6, 1992 or at the time all loan proceeds of the
Mortgage Loan have been disbursed, whichever occurs first, the
interest rate will convert to a fixed rate of Eight and Ninety
Hundredths Percent (8.90%) per annum. Interest will be '
calculated on a 360 day over 360 day basis. The principal amount
and interest as aforesaid will be payable in 59 monthly
installments of Two Thousand Five Hundred Forty Seven and 93/100
Dollars ($2,547.93) each beginning August 1, 1992 or the first
day of the month following disbursement of all loan proceeds of
the Mortgage Loan; and in one final installment of all
outstanding principal, together with all accrued and unpaid
interest. Payments including principal and interest at the
stated rate shall be made all in lawful money of the United
states of America.
Any prepayment of the principal hereof during the fixed rate
period (whether voluntarily or because of an acceleration ,of the
maturity hereof or o~herwise) shall be accompanied by a payment
of all accrued and unpaid interest on the principal so prepaid
plus a payment of a prepayment premium equal to the amount, if
any, by which (a) the installments of principal being prepaid
plus the installments of interest which would have been payable
thereon when both are discounted to a pr~sent value at a rate per
annum equal to the yield to maturity of the "Applicable Treasury
Bond Obligation (s)" exceeds (b) the principal amount being
prepaid. The "Applicable Treasury Bond Obligation(s)" shall mean
the debt obligation(s) of the United States Treasury having a
maturity date nGarest in time to the maturity date(s) of the
principal being prepaid and the maturity date and yield to
maturity of such Applicable Treasury Bond Obligation(s) as shall
be determined by the Bank in its sole discretion on the basis of
quotations published in the Wall street Journal (or comparable
source) on the date of prepayment.
SP LOflNS
rEL : ';, ll-I - ,~l: ~.. ~'_'_I.!.:
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BOND ADOSNDUH TO $202,000 BOND DATED ~~~ ~i
SUSQUERANNA VALLEY ASSOCIATBS
, :>'992
THE CONDITION or THIS 80NO IS SUCH, that 1( Obligor shall
pay unto Obligee the atore.aid principal uum ot TWo Thouuand TWo
Hundred and 00/100 Collar. ($202,000.00), together with intere~t
a. stated below and in the manner stated belowl
The Bond shall have 1.1 term ot tive yearB and 70 days. For
the initial &eventy day. ot the Bond, the inturunt rate will be
at a tluctuating rate at inter..t per annum equal to Hamilton
Bank'. Prime Rate a. in etreat fro. time to time, plus .50\.
Thl. interest will change when and a. Hamilton Bank'S prime rate
ohanges. Interest will b. calculated on a 360 day over 360 day
~a.i.. IntereBt will be payable monthly, upon submission of the
Bank's statement ~hereror.
On July 8, 1992 or at the time all loan proceeds of the
Kort'iJage Loan have been dlubur.ed, whiohuver occurs first, the
interest ,rate will convert to a fixed rat. of Eight and Ninety
Hundredths Percent (8.90') per annum. Interest will be
calculated on a 360 day over 360 day baais. The principal amount
and inter~st as arore.aid will be payable in 59 monthly
installments of Two Thoueand Five Hundred Forty Sevun and 93/100
Dollars ($2,547.93) each ~uginnin~ Au~ust 1, 1992 or the rirst
dny or the .onth tollowin~ disbur'lment or all loan procoods of
the Mortgage Loan, and in one tinal installment of all
outstanding principal, together with all accrued and unpaid
interest. Payments including principal and interest at the
stated rate shall ~e made all in lawrul money of the united
states ot America.
Any prepayment ot the principal hereof during the fixed rate
periOd (Whether voluntarily or because of an acceleration ot the
maturity hereof. or otherwise) uh.ll be accompanied by a payment
of all aocrued and unpaid interest on the principal so prepaid
plUS a payment or a prepayment premium equal to the amount, if
any, by which (a) the installments or principal being prepaid
plus the installments of intere.t which would have been payable
thereon when both are discounted to a present value at a rate per
annum equal to the yield to maturity ot the "Applicable Treasury
Bond Obligation(8)" exceeds (b) the principal amount being
prepaid. The "Applicable Treasury Bond Obl1gation(a)" shall mean
the debt obligation(s) 0' the united states Treasury having a
maturity date neare.t in time to the maturity date(s) of the
principal bein~ prepaid and the meturity date and yield to
maturity of such Applicable Tre.sury Bond Oblig~tion(s) as shall
be dete~nined by the Bank in its 801e diucretion on the basis or
quotations published in the Walt ~~reet Journal (or comparable
source) on tho date ot. prepayment.
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Exhibit B
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,mulllu, ur " th. 11I1., 111".'0 "mil huom. v.lt.d ,,, Dny Qlh'r ,",.on IH ,,.,,,>/u In IIny IIIQ"II" wl"JIIl>'
......,. 'nth. .v.nl Ihot Ih. MlHIUIIQ" OU"'. h) UlIW'r,lI1U QI Ih. I".ml.., hy Ih. MOIIQflQor, Ih. MQH.
UlJ\Jor ,hnll ohllJl" "mll Ihl' OrQtllu II bUIlII, ....culll' hy Ih. O,ul1l.. In 'o"'or of Ih. MmIQIIUu, In Jl.lh,
"onIIQlIy Ih. UI/I'" Imlll IU ,h. Dl)t1d 1I1l11 In Ih. tHllQun' Q' Illlt LJ"fmhJ I1tJtlclptJl, Inl.,.." dmtg.. OI'IIJ
Cllllll" 1111111 dlJ" lIm' pn)'uhl.. 'h. MOIlooijol' .11IJllllol h. dum.d 10 b. ,.1.01.1.1 hO/ll hll llbllQ[Jllon 0/1
Ih. .,tlullllll noml by ,...lIm Q' th. 'lrW 01)111' of the Om"'" Imlu. ...p,...I)I nlh.twln nv,..d III wdlJnu.
IN mE EVENT Ohlluot IhCllJt,t '01110 Ilny "tolll\lIly IDhJ tDII'I, WDI" ond I.w.r ,,,nfl, charu.. I1nd
,In hili, or to IIIlJlllhlll. lold InllJtnnn', m 10 mo~. 0 I "Imlrl 10 fill, nlQtlooo.d PIO,1I1ty, qlllU h""'nh,,.
101" ",ovh.l.d, Mo;lunV" 1II1'r,' III MO'I\Jor"'. 101. apfhm ot".I wllhOlJt notlu h, Mottgagor, ol'von"
.',lIlU on b.half 01 Ma'lgllgo, " poy",.nl 0 lold 1011", wat"r olld IItWtr "/lh, ,hmu.. rmd clIJlml, In-
IUlnne. nnd '.pnl,a, which ,.pol" Mo"gQgo, h".hy authafl,.. Mortgng.. 10 nHJ~., wlfholJt pflludlu
to fh. rlghl 0' ,,,'o'IO,.,.,.nl of Ih, Dond, I)r Ih. ofh.r rlNn'lll" 0' Morlpogltlt by ,.0lOn 01 Ih, 'Qlh",t'I 01
MO'lfJogor to Il10h pClym"lI 01 th. lOIn., IJnd till I\Hn. 10 IJd\llJllud by Morlgogn Iholl b. odd.d 10
olld bltcolll' r, PQrt of IIlIt l"dllhl'lhlltn of Ih. Bond qluJ I.cured by Ihll Morlgog., ond "fooym,"', Ih.r.of,
wllh hll.,." Ih",on, rJt Ilu, rQI. 0' Inl"..1 provld.,l 'or In u,ld hand, bill In no ,v.nl .u thQn 1111 (~%)
pIt unt, from II1It lIQI.I 0' Ih.lt "Iplctlv. 1lI"lIndllu"" moy b. .nlo,ull by Morlgao.. Qgall...t Mott.
gog",r at oilY tIme.
~!M!OI!5 Of 1m MO~lGAmE UPON OEFAULI
WHEN laid p,lnclpol IlJlll or the utlpald balance Ih".o( Ihlll' blComlt due and poyobl., .1Ih" upon
,"olurllY, or by ,,,ollm 0' Ita blfomlng dv. by oCClI.rollon 0' mafurlty at Ih. opflun at Mort~QO", or by
IIa.on of d.'ovll 0' any !'aylll.nth) '01' th. IpOC" of Ilftn" <1,5) dOYI oil" Ih. .om. Iholt 'all dUIt In oc.
cordone. wllh Ih. provlllom 0' ,aid Bond, 0' In Ih. perlorlnanc" 01 any 0' the covtnonta or conditiOi'll
contaln.d In laid OOlld 0' In Ihla MotlgaQ'" th.n Mortgagu may 'orlhwllh ond wlthoul further d.loYI
(I) Inllllut. all Qcllon 01 motlgog. 'oreclaaule, Dr lok. auch of her ocllon 01 low or 111 .qully fa,
fh. ."Iorum,"1 h.reqf and ,eQlhollon "n fhe morlgaO. I"urlty which I. h."ln provld.d 10' o.
Ih. low Illey ollow, and moy proc..d th.,ton 10 tinolludgl11"nt ond ..IIltcutlon Ih,,.on '0' the _nllr.
unpaid bQhJ/1C_ of laid pllnclpol lum, wllh Inl."" olth. rot. Iftpulal.d In laid Bond, 10g.lh., with
QU oth" luml due by Morlgoglu In atc",donc. with Ihlt provlllona h.r.o' 0' of laid Bond and QtI
,unu which may Imv. bun odvonCfd hy Morlgog.. 'or 10MII, wal.r or UWIt ,.nll, charg.1 or
clalnll, Inlu,anc. 0' '."Qln 10 th. mortgog.d pr"p"ly, all co.h 01 .ull and un ollo,n.y'l commllllon
'or eoll.elllln whIch Ihall b. flv. (5'!i.) p., ""1 01 fh. 10101 0' Ih. 'or.gqlno luma, bul not I... Ihon
SI00.00, without 'vrlh.r Itoy, Imd wllh 0 full r.l.oII 0' '''011, any law, UIOOt or cUltom 10 th.
contrarY notwllh.tondlnOI arid
(21 .nl" Inl" po.....lon 01 Ih. motlgogltd rrop.,ty, wlfh 0' wllhout IltqQI ocllon, colllCl all
,.ntola Ih.rltfrom and, ofter dtductlng all Call. 0 collecllon and odmlnl.ltallon 'lIp.nl', upply Ih.
n.t ""101. fo Ih. poym.nt of fa...., wol., and ..wer r"nh, chorg.. and c1olml, Inauranc. 13".
mlum. and aU of her carrying chorg", and 10 Ih" molnl.nall", '.polr or ,.,Ioratlon 01 Ih. morlgag.d
prop.rty, or on occounl ond In r.dudlon of fh. principal and lnler.a' h".by UCVlM, In luch ord.r
Clnd Clmounh aa MO,lgog.,. In MO,fuog..', .01" dhcr.tlon, mtJy .llClt and 'or laid purpoa. Mar',
gagor h.reby onlgm to Morlgogu 011 ,.nloll dult and II) become du. under ony 1.111. or 1.0'" of
Ih" morlgaged propltrly whelher now e.llllng 0' h."oh., creollld, 01 well 01 nil rlghh and rem.dl..
provld.d In IlJch r.al. or I'lll.. fQr Ih. cl)lI.cllon a' laid r.nfa, ond MarlgoQI)' her.by aulhorilu
ond .mpow.tI onf. Clllo",.y or allo,n.ya 0' any Courl of Common PI"al 0' PltnnlylvQnlo or el.e.
.....hlle to oppeo, or Morlgogor and al ollorn.y 'or Morlgagor 10 Ilgn an agrumenl fo' .nl~rlng on
amlcabl. action Q' .lectmenl for poueulon 0' Ihe mortgogert prOptrly, and 10 umf.n j...dgm'IH
Ihll"ln agoll1l1 Mo,fgogor In 'o"or 0' Morlgogn, wh"relJpon 0 wrll 0' POII.ulon moy Immediately
luu. for the pOluulon 0' the mO,lgog"d prop,rfY, without Qny p,lor wrll or procudlng whotlo.
Itvllr, ond 'or 10 doing, Ihll MorlgaQ' or 0 copr. h.,,,o', v.,tll.d br, offidClvtl, Ihall b. a lufficl.nt
wo"onl, wllhaut 'urlher ItOY, and wllh 0 'vII ,. '0'" 0' ,rrort, emy ow, u.ogt 0' CVllom 10 the con.
Irory nOfwllhllondlng. I
THE Qronllng of an .)lI.nalon or ..t.nalon, of 11m. or modlficallon by the Morlgag.. with r.lp.cl 10
Ih" pllrformonce of Qny provl.lon 0' Ihll MO,lgog. or UJtd Bond on Ih. part of Ih" MortOogor 10 bIt per.
form.d, or the taking of Qlly additional ..curlly, or Ih" walvft by fhe Morlgogee 10 ,n'oru any provl.
alan 0' Ihla MOllgoge or laid Bond or III dedor" 0 d,'oult with ,..peel Iherltfo, .hall 1'01 operaf. 01 a
waiver of any lublequ.nl d.fQull or de'aultl or oll.d Ih. rlghl of Ih. Morlgogee to ...'ch. 011 ,ighh or
remedlel .llpulaf.d herein and Ihereln.
THE wurd "Mortgag.e" k.rllln Iholl b. dum.d and tonll,v,d 10 IncllJd. IU"Ulon Qnd olllgnl of Mo,t.
gogee, ond Ihll word "Morlgogor" herll,n aha II b. dum.d onrt con,'ru.d 10 Intlud. the r..pecll.... h.lrt,
execulo,., odmlnhtrCllotl, IvcnUOrl ond alllonl of Morlgogo" ond In Ih. .....nl Ih.r. II mo', ,hon one
parly nOM"d her.l" 01 0 MortgoQor, the word "Mortgago,", when.ver octvrrlng hllrltln Iholl b. d..m.d
and tall:en 10 b. ,h. plurol, ond 011 the cov.nontl, wolven, worronll, prom".. and r.I"oll' by, and obllgo.
tlon, or tlabltlll.. Impoaed upon MorlgolJOr .hall bind th.m lolnlly ond .everolly and Ih, hll, her and th.lr,
and eoch of Ihelr ,.ap.ctlv. h"lll, f:IIeculorl, odmlnl'lrotoll, lu"euo,. ond oulgn:l.
IN WITNESS WHEREOf, nnd Inl.ndln\) 10 be r.golly bound her.by, Morlgagor hQI ...eul.d Ih".. prfl"
'1'111 unde, leal on fh. dole fltsl obov" wrltt.n.
Signed. Sealed and Oellvmd ~.
': ;:P::;C~;f._ (7, C,,'~''''~~ s~pt~~CI9~
';1/1 .'0 <<~bert J:(i[e~~ner
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Will u, uny lJIl~ ull 'hlu"., IIII1J ullul'flllullCU, nIlJlhlll"~ 11I111 'Il'il'llll.nl, ",h.lh., 'I "lull. .., 11111, III
OilY nulVr. whulIg.",r /lOW III 1""1111., l'UIQlIe~ hi IN IIpun 'lIli' IIIlml.., II' 111.11 III uHHlII'hm wllh
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,UU.QU,I, WO~I, wul,' COli"'., IIVhll, Iib.,IlIl, p'hll.V'" h.r,ulhWlIllll UIII.I III"noIIlIUIl"1 whullu
,"Ir Ihll,on b.longlnD 0, In Qn~ wll' IJI1p.,lulnII1U, orlll Ih, """llu'u QIlIJ III11I1II11J,,,, """, IIUill 1111I'
prutill Ihll'O', nuw 0, h",u'l.r o,uIIIIIU,
TO tlAVf ,.,ND TO HOlD lulu plo')I"I~. I,,"b~ U/llnl.u, ur 1Il1lllloll'U .."ulll1lll11.1,'" .0 lu Ill, willi 'III
appUII.nu1U... unlo Mo,luuu", 10 Ih lJWII UI' 'UII"." In'"
PROVIDED AlWA~5, HfVlfm.ElE$~, IhlJl " MUI",jLJIIOI plJ)' 10 Ihl Motl".,,,.. Ih. ufu"lIIhl 1111,1 IJI
IHlnclpol .1,111I, ond lJlI alhll .u,ru 'lll)'lJbl. b~ MollulJUur lu MUIIVu".. UI 1111 h,"h)' IIl~"U 111 .IIIUl.'
onn with Ih. ploylllonl 0' Iuld OU/lIJ lJnd In Ih, /nonn., IIIU' Qt Ihl 11111. IJ' 11m.. 1I11,.ln It' Iullh. wllh
out d.du,lion, d,'al"Jllon, "ou~ 0' 11.IrJ)', IllIn ond It"", Ihllu,,'o,lh Ihll Mll/luoV" lJlld Ih, IlIiJII "".Ily
cQnY.)'.~, Ihull UOII, d,l"mll'l ond blcum" ..ol~, on~lhlnu IIIIIhlh,loll conlqlllld hI Ih. UHlI""~ flul
wllhllulldln",
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AGRIIMWIS Of 1111 MORIOAGOR
UHTll Ihl .nll" InulhllJnll1 "IJlII.,\I.d h~ Ihl DOIllJ und u'lI11d h~ Ihll MIlIIU.'''', "ullllllllll 1111
IlIml Ju. MOIlooOII unu.r Ihl It"HI 01 Ihl bOI1~ ullll u' Ihh MorlVIIUI, wllh 1111.,.11 II" Il/II~ ""hl,
MoIIg"oor ,oy.mmh QlIlJ IJg"'"
III 10 PIJY p'o",pll~ .,11 IQ,..I, wulll 011I.1 IIWII lenh, uu..UlIllnll un'" ..II ulh" Itwll,j" Il'
,loin" which '"O~ hi uluuld or I...dlll upon Ih, IHlJrlUlJ\,jeJ 1110'1111)', 0' UIUlII MOII\lu\llll III ""1
Iulaeqll.nl own., 01 Ih. 1lI0IIgagld p,op.,ly, 01 lJny Ilml, b)' uny IlJ",lllluUlhulll)', ",,..1 .....hl.h 1.11
any plll'nl or lUlU,. low mu)' ha\l' p,Iolll)' 0\111 laid Indebl.dnl" .1Ih., In Ill" Q/ In ..JhllHHlllun
01,110' Ihe p,ou.dl of any 11,11.11,101 aolt. ollh. /flO,llIug.d I"uP.'ly. olld 10 IlIlHlul' 10 MUIIU"U" 1.1"
'Oil Ihe dQI.. In .o,h )"0' .,.,hln any Inllllll 0' f)II\lJh~ WOl/t..1 OCUIII l..1I IIlIn'IH'1111.111 Ih.llul
"c.,lpll for Ih. pO~lIIenl 01 011 Iv(h IlJII.II, waler Gnd ..w" ,.nh. un'lUll.nh, c1uJ/V'- UlIllllllln",
(2) To 1'I10lnloln "nu'onu l1n Ih. Illollgog.d proplfl~ 0' Iud, "ln~l, In III,h "1fI10Ilnh, lJlul hi
Iu,h ,omponl" 01 0" from 11m' hJ 11/111 10lh'm!lny 10 MO,IVlJUII, und II I'JllI IllIuIlInll 0' lIt1y
pori Ih,"of Iholll.llplr., or b. wltl"Jrllwn. or buo",. yolu h~ b"o,h 01 IHl~ ClHllHlluII 111111111, 01
bllorllo for ony "alan whoIlO'Y" lI,"uU,'(ulo,)' 10 Mo,lgoUU. 10 .fllll n'w Illlu,unu ulI "lhJ
p,op"ly lolllfoclory 10 MllrIQ<lOUI lJn~ 10 poy LlII pr.tl\lul1u 'U, .lIeh IIIIUIIIIH'I un'" 10 loll\ll with
MorIUou", 01 fll,lh" lIe~r1ly lor IlJlu Inllebl.dn..., 011 o,lglnol !loUd.. IJIIIJ "nl""lIh Ihll'U'. wllh
Iou po~ubl. ,10u"l olloeh.u In fU\l1.lI of onu aUIPIl!bl. 10 MOIIgoUII. In ....nl 1)1 1011 Mu"UlIuol
Iholl gl\l' ImmldlQl1 null" by mall 10 MOIIOOUU, Qn~ MO,IUlIg.. mo~ f11I,I.. 'I/oul ll' Ill" II 11ul
mod. promplly by MO,lgaQor, MorlguUo, h.".by dl't'll ev,,)' Illllllonu ClIl1lpllll~ 'O"UII"~ 10 fluy
dlrlclly 10 Morlgao" 011 mon'~1 whl,h mo~ bllom' poyobl. undll lu,h pollel.., Iruludlnv /llurn..1
0' unla,n.d ",,",Iunll, III,h mon'~I. or ony pari Ih".ol, 10 b. oppll.J ul Ih. IIptlon 01 Ih, MUll'
goO" 10 Ih. IInpald bolunu of Ih. Il.bl .."I~.n,,~ by Ih. Bond or hl Ih. "pul, 0' Ih, ,"0~"11~
domaO."1 o"d Morrgogor 11f'\lo'Qbl)' uppal"" Ma,IQog... UI lJlll.lln'~ In fuel 10 .l1dl"" ...tn~ u/nll
Ih"IIo" and
(3) To 11\01nlol" Ihe /lIoIIUngld p,op.llY In good "'1111" uuJ" "nJ 'l)llljjJlon, lllla.l MOIIUIIl,lOI
will nol 'uff., on~ wOI'e I... OUUI nur 1110"1, nOl p"",1t lu b. InlJu" flny qllllllHUIll III Ihl InOIlUUU'U
p,ap,,'Y wllhoul fhll ohlulnlnu 11-1, w,III.n canllnt 0' Morlgug.., whllh IIm..nl MOIIQUQII r.."~"
Ih. 'Ighl 10 ,.fulI.
IH ADDITION 10 Ih. oblluollonl ond CO\llnOlll1 of Ih. Dond, Ih. MmIQ"VOr do.. IHUlIlllI umJ (IU'" Iu
pay. p,,'orin and b. bound b~ Ih. lollowlng uddlllonol oblluotlon.. coYenonl1 l!IId IJv,..mll,h, lhlll IIII
MO,lgago, Iholt, If requlIl.d by Ihe MQ,looglI, otlO pay 10 Ih. Mo"UaU", In IJIldillIJII 10 und 'o"cu"
"nlly wllh lo,h monlhly pO~IJ1.nl of prlncipol and Inl.,ul. vnlll laId Bund II 1...11)' pullJ Ih. 10Ih,)wl"lI
Iumll (0) alum .quol 10 Ih, Pllmluma Ihol will n,., blloml dll' und f)"'~llbl. on PQlhlU of nil omJ
olhll hOlord Imllranu hlld b~ Ih. Morluogll p~flvanl 10 Ih. "'1)\11110"1 lJI Ihll MO,lgug. IJn'" nUUI1l'
pon~lng Bond, morluag. Inluron" if and 10 long 01 Ihl, ma"voy" find Ihl,aund "lu,..l hlflby all
Inlulld, phn lo..a, u,ol,lnd "nil, ou.ume"'1 0' cho,on IIllJllnv 10 lighting. fl" l1y.1I01111, U",huU'
and IrOlh, Ilondby ,I-Iorgu fOl r,,, II'I)I"lIon IIl\Ilce onu mollll' 0' .1 Ilmltm or 1.11".'" 111111/,,, und
IIW., and wolll "n'l nul d~. on Ih. p,.mllll cO"",,J br Ihll MOIlvnl.l' (ull <II "limn"..! b~ Ih.
MorlgaUII and 0' which Ih. MOlloal.lO' II IHJllfil~) leu ollluml lJlIIlJdy ,wld It.."fo, l.h.,IJ.d by Ihe num.
b., 0' monlhl 10 .lopl' b.foll on. monlh prIor to ,hi diOlf wh.n luch pflllllllllll. hUll. ,,,ound IIn!t,
ou.unllnll or ehorou 01 afo"IQld, and IIWII and wu!., IInll will be,om, uu.. lu,h 1~,1lI 10 hi ",Iu
by Ih. MorlOou" al 0 oen"al non-lnl""11 b,o,lng 1I.puw '0' Ih. Mo,lgIIU.H, 10 puy .old p"mlvl1\1,
10"1, o,ound "nh, au.unlln'l or ,haru.. 01 alo,.,old un~ 'IW", UIIII wut" "nil! (b) Ih. IIUgllgol1
0' th. omovnll po~obl. purluonl '0 lub.pnrograph (u) IJnJ Iholl PQ~QlIl. on Ihh d.hl Ihull h, IJolu III
a Ilngl. paym.nl lo,h month 10 b. orplllfcJ o. hllllno'I., Ilal.d. Any d.'hl.nl~ In Ih. OffiOllnl of (lilY
all,h aggltgnl' monlhly poy",e"l ,hol (OIUlllu!. un .Ylnl 0' "','oIJII h"eun.h, 111\1.1 "nd" ,ulU Bo"u un.
I... mad. gaod by Ih. Motlgogor p,lor 10 Ihe du. dol. Q' Ih. """III,h pu~,".nl, till pIJym.nll "qulr.J
und" (0) 0' Ihll paragraph Ihall bl ""I.w,d onnuully nnd If Ihe lolul of IlIlh puym.nh Iholl IIIU.J Ihe
amounl of po~m"u, a'llJally modi by Mo,lglJO" '"r IU..I, ground IInll, aU.Hl1I.nll ur ,hI)Ig.a 01 afor."
laId or a,w" 0' wolll "n" 0' Int~'on'. p,.mluml 01 Ih. uu. n1lJY b. IUlh uuu Ihnll b. "Idlled on
allbllqu.nl po~mlnh 10 bl mod. by Morlgoool for luch It.ml or, 01 MI)'IVuV.... opllon, ,!'oll b. oppll.d
10 Ih. p,In,Ipol 0' Ihll d.bt, If. how...." Ih. 111101 0' Ivch pu)'",..nh Ihull nul bl 'um,l.nl 10 po~ lu,h
lI'fT\I when Ihe 10m. .holl buoml uu. 0"'..1 poyot.l., Ih.n MO,lgoUQ' .holl PIlY II) Mo'lua~.. ony amounl
"."ua,y 10 mok. up Ih. defiel,"cy wllhln Ihllly IJO) dlJ~t n'l" WIIII.n nollll ',om Mor'gou" 1I011l\g
Ih. omounl 0' Ih. d.ficl.n,)', MO"Ql'Jgor h.,.b)' oulho,"" Mo,lgoglI 10 JI.bur.. luld 'UlUW 'und. In
whol. or In pall, 'rom lime 10 lilll.. wllhovl 'urlh" oulhorl.ollon "0'" or noli" 10 laId Mo,'gagor, Pay.
m.nh mod. under Ikll mo,lgog. and Ih. ouomponylng Bund IhlJlI b. oppll.u 10 Ih, 'allowing lI.ml In
Ih. ord" alol.d,
0) TO)lIl, au.um.n" or ,horg.. 01 o'or.aold, IIWII and wolll "1'111, n,. onu olh.r hOla,d Inluronce
p,.mluma and morluag. In'liranu prtllllvmll (2) 11'11".11 on Ihl. d.bl, on~ (3) umorll,ollan 0' Ih. p'ln.
clpal of 11'111 Il.bl.
tN ADDITION 10011 of Ih. cOVlt\llllh nlld cOlII.llllonl cnnlnln,d In Ihll MO'I"oU. and a((ompon~ln9
Bond, ilia h,,,by agll,d 11'101 In Ihft '~Int lJf on~ de'wltt hy MUrll1ngur In Ih. IIIJY""I1I(l1 "lJuI,.~ h.,.
unde, 0' 'allu'l 10 mainlaln ,h. "'1~I'.IJ l"t"HUlIt, or 10 poy IIro,"pll~ IJIIIlUII ou,".d agoin,' Ih. ",0'1.
QoO.d p'npllty ond p'.UIlI I,u IIc'lph It) MIl,IUau", Ih. MntfuulInr Ihull rilY h) Mo,tQug.. Ih. lum of
fOllr I"") pit (fnl 0' Ih. Pllym.n'hl pal' due 0111.1 In d.f...,t, ,.,r II plflol' I) rift"n (1~) JOYI. Thll obll.
gallon '''011 be due ond pa~llbl. UI pu,1 of Ih. d.bl hll'UIllI."
PROVIDED 'UATHIA. Ihnl MO''',Jag.. h.r.by ,...,.... Ih, ,Ighl, In h, dlm.110n. '0 d"Ia,. ,h. bolon"
dll' and payabl. 'orlhwllh In Ih. Iv,," ,hut Mn"U'IQor ahlllllon\l'y till. 10 uny pall 0' all 0' Ih. lubllCl
.
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I
AT,L THOSE CERTAIN lots or pieces of land sltullte'llI thu 'l'ownshlp of LowlIr Alle~"
County of Cum,belrlnnd and C~mmonwllalth of PennQylvlUlla, bounded and descrlblld as
followsl .
TRACT NO. 1
ALL THAT CERTAIN lot of ground fronting on tho Goltyubulrg H1llhwllY and bounded on
the suuth by the Gettysburg Highway, on tho We lit py Lot No. 0, on the north by Lot No"
20 and on the East by LQt No. 10, 1111 illS shown on the plot of Bitner Park os recorded
in the OCClce of the Record'ilr of Deeda of Cumbel'land County I~ Plun Book 2, PallO 65,
the said lot having 11 frontage on tho Gettysburlllllllhwoy Qf lIeventy.f1ve (75) feet and a I
depth of one hundred"fmy (150) feet to Lot No. 20, and bolng Lot No. 0 on the said ;
X'ecoX'ded plot. I
TRACT NO.2, :
nEOWNINO at the'northwl!Bt MX'nllr of Intersectloll of OeltYBburg Hlllhway and Thirty" I'
'St:rth StX'eet aB' shown on'Plan of "Bitner Parll", whloh Plan Ie recorded In Plan Book,
2,' Page 65;' thence northwnrdly along tho weBt side of Thirty-Sixth Street, one hUndlre~
fUty (150) feet to Q point, blllng the 1I0uthust corner or L~t No. 20, DB shown on said
1'lnn; thence nlong line of sold I,ot No. 20, w08twArdly oovellty-flvo (75) feet to a
point; thence Bouthwnrd\~,. C:1 Hno I\t X'1~llt ollUloll to OuUysburg Hlghwuy, nlong the
eastern line of Lot No, 9, as shown on Dahl Plan, pno hundred fifty (150) reet to
Gettysburg HlgljwaYI thence oaotwardly. nlong tho northern Une of Gettysburg Highway:
seventy-!1ve (75) foetto n point, the,ploce of BEGINNING.
BEING Lot No. 10 OB shown on snld PIlln. , "
HAVING thereon oX'eoted a two-I/tory brick Ilnd fralne dw.elllnll house.
EXCEPTING THEREFROM the following described trllct 'ilf Innd which Minna M. ,
Johnson, widow, by dlled of dedication datod November 10, 1076, graated and conveyed
unto the Township of LoweX' Allen AS lUId for a public sldewnlk. '
ALL THA'l' CERTAIN tract of land situate In Lowor Allen TOlmshlp, Cumberland
County, Pennsylvania, bounded Ilnd deocrlbed In Accordance with Q ourvey and plan of '
D. P. Raffensperger Aosoclatell da.ted Duoembn I, 1975, no tollows:
BEGINNING at ~ nOlnt, said point bclna the Intersection at the north side of Gettysburg
'Road and the \Vellt side or 36th Sh'oetl thenco by the north side ot Oettysburg Hoad
South 57dogrecs 09 mlnutes.Wesr,-a distance of 150.0 feet to II. potnt at land of 'I: r1ntt,y" ,
High School: thence by same North 31 decrees 50 minutes West, a distance of 10. 0 teet,
to a point I\t other lands of !Jnrry A. Johnson Estate; thonce through same North 57 '
degrees OQ minutes Eut, II. dlotonce of 150.0 foetto a point at 36th Street: thence by
same South 31 degreu 58 mlnutoM East, a distance or 10. 0 toetto the place ot '
BEGINNINC. '
DEING th.. R"m~ premlo~o which Mhlna!.t. John~on, Widow, by'deeddated March :JO,
1078 And rocorded In Du,ld Dook "S", Volume 2,7, Page 571 convey~d to Susquehanna
Valley Assoolote.. '
:'
h'jOr. 10 f;f; rm , 23 J
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EXHmlT "A"
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ElIhibit B
CONSENT AND JOINDER TO MORTGAGE
INTENDING TO BE LEGALLY BOUND HEREBY, the Undersigned,
CUMBERLAND COUNT~ INDUSTRIAL DEVELOPMENT AUTHORITY (hereinafter
the "Authority") is fee owner of the Mortgaged Property as
defined in the foregoing Mortgage in the amount of Two Hundred
TWO Thousand and 00/100 Dollars ($202,000.00) between Susquehanna
Valley Assooiates, Mortgagor and Hamilton Bank, Mortga~ee
(hereinafter the "Mortgage"). The Undersigned hereby joins in
the Mortgage for the purposes of:
1. Consenting to the creation of the Mortgage thereof I
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2. SUbmitting and sUbordin,ating the Undersigned's fee
interest in the Mortgaged Property tO,the lien of the
Mortgage with the same effect as if the Mortgage was
executed and delivered by the Undersigned to Mortgagee
subject to the lien of any prior mortgages I
3. Agreeing to be bound by the terms and conditions of the
Mortgage I and
4. Indicating the Undersigned's agreement that a
foreclosure under the Mortgage shall divest the
Undersigned's fee interest in the Mortgaged Property
subject to the lien of any pri~r mortgages.
NOTWITHSTANDING the joinder of the Undersigned in the
Mortgage, the liability of the Undersigned for the repayment of
the mortgage loan or for costs, fees, penalties, taxes, interest,
commissions, charges, insurance and othar payments of any kind,
nature or desoription provided for therein, shall be limited to
the Mortgaged Property, the improvements thereon, rents, issues
and profits therefrom, and the fixtures, appliances and equipment
therein mentioned, and the lien of any judgment shall be
restricted thereto. Nothing herein, however, shall limit the
Mortgagee's rights against any person, firm or corporation other
than the Undersigned.
ATTEST:
CUMBERLAND COUNTY INDUSTRIAL
DEVELOPMENT AUTHORITY
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