HomeMy WebLinkAbout97-07030
2, Defendants Andrew L. Collins and Georgia COllins,
husband and wife, are adult individuals (collectively, the
"Defendants") with a last known address of 2646 Lynnhurst Drive,
Bethlehem, Northampton County, Pennsylvania.
3. . On or about June 25, J.993, CoreStates loaned to
the Defendants the principal sum of Two Hundred Eighty Thousand
Dollars ($280,000) (the "Loan"),
,
4. 'ro evidence their obligation to repay the Loan,
the Defendants executed and delivered to CoreStates their
promissory note dated June 25, J.993 in the principal amount of
Two Hundred Eighty Thousand Dollars ($280,000.00), together. with
interest at the rates set forth therein (as amended, the "Note").
The Note was subsequently amended on October 1, 1996, A true and
correct copy of the Note is attached hereto, marked Exhibit "A"
and incorporated herein by reference.
5, To secure payment of the Note, the Defendants
executed and delivered to CoreStates a mortgage dated June 25,
1993 (the "Mortgage") granting to CoreStates a lien and security
interest in that certain real property owned by the Defendants
located at J.402-1412 Center Street, Bethlehem, Northampton
County, Pennsylvania (the "property"), which Mortgage is recorded
in the Office of the Recorder of Deeds in and for Northampton
County in Record Book 2049, Page 0473.
RDO/5~511/01~JO.71'
2
6. A default presently exists under the Note due to
the Defendants' failure to pay certain of the liabilities due
under the Note,
7, As a result of the Defendants' failure to pay
certain liabilities that had become due and owing, on or about
August 19, 1997, CoreStates declared a default under the Note,
demanded that Defendants pay their delinquent Note obligations by
September 3, 1997.
8. Defendants failed to pay the delinquent Note
obligation in full by September 3, 1997 or at any time
thereafter,
9, As a result of Defendants' fRilure to pay, on or
about December 3, 1997, CoreStates accelerated payment of all
sums due under the Note and demanded the Defendants pay th~ir
accelerated Note obligations in f.ull by December 12, 1997.
10. The Note contains a warrant of attorney that
authorizes CoreStates, after the occurrence of a default, to
appear for and confess judgment against the Defendants for the
full amount of any or all of the liabilities of the Defendants
together with costs of suit and with actual collection costs,
including reasonable attorneys' fees.
11, The amount of the liabilities under the Note as of
December 12, 1997 are $215,928.35, itemized as follows:
RDO/52511/012JO.119
3
day, plus costs of suit and reasonable attorneys' fees in an
amount to be determined by the Court.
Dated: December~, 1997
.---
By
Dav d M, McCanney
Attorney I,D, No, 966
111 North Sixth ~treet
P.Q, Box 679
Reading, pennsylvania
(610) 478-2142
19603
Attorneys for plaintiff,
coreStates Bank, N.A,
"
5
lCO/S2511!012)O.11'
I
I
, I
I
I
plus interest after December 12, 1997 at the rate of $59,58 per
day, plus costs of suit and reasonable attorneys' fees in an
amount to be determined by the Court.
Dated: December J!, 1997
By
Dav d M,
Attorney I.D, No, 719 5
111 North Sixth Street
P.O. Box 679
Reading, Pennsylvania 19603
(610) 478-2142
"-
As Attorney for Defendants
RDO/12571/01210.11'
CORESTA'l'ES BANK, N. A. ,
successor by merger. to Meridian
Bank and First National Bank of
Bath,
IN THE COURT OF COMMON PLEAS OF
NORTHAMPTON COUNTY, PENNSYLVANIA
CIVIL ACTION . LAW
Plaint if f
No,
vs,
CONFESSION OF JUDGMENT
ANDREW L. COLLINS and GEORGIA
COLLINS,
Defendants
j>.FFIDAVIT OF WARRANT
COMMONWEALTH OF PENNSYLVANIA
:88.
COUNTY OF BERKS
JEFFREY A, GUTH, being duly sworn according to law,
deposes and says that he is an Assistant Vice President of
CoreStates Bank, plaintiff herein, and that the copy of the Note
attached to the Complaint as Exhibit "A," which contains the
warrant of attorney upon which judgment is being confessed, is a
true and correct copy of the original Note.
'J y/11
Sworn to and subscribed before me this /.)1 day of
December, 1997.
RDO/5~571/014]O.119
Notary r:el)r'~ J %o~r'lf :11.11
1.~I'Y C(lrll:/:,}',I,~II;~;;f;t~/k ,~,'~~' lrr tfJuhlll;
rl""I~';~~~~,...__ '. .Jill:, ';l 'In
'.'1 ,L'I, ,1 7--__ -, <. ~I)()
).<,1:(1']1,")1, ,;i';~-~---.
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CORESTATES BANK, N,A.,
successor by merger to Meridian
Bank and First National Bank of
Bath,
IN THE COURT OF COMMON PLEAS OF
NORTHAMPTON COUNTY, PENNSYLVANIA
CIVIL ACTION ' LAW
Plaint if f
No.
vs,
CONFESSION OF JUDGMENT
ANDREW L, COLLINS and GEORGIA
COLLINS,
Defendants
AFFIDAVIT PURSUANT TO
PENNSYLVANIA RUI,E OF CIVIL PROCEDURE 2951
COMMONWEALTH OF PENNSYLVANIA
COUNTY OF BERKS
:6S.
JEFFREY A. GUTH, being duly sworn according to law,
deposes and says that he is an Assistant Vice President of
plaintiff, CoreStates Bank, N.A" and that judgment is not being
entered by confession against natural persons in connection with
a consumer credit transaction.
Sworn to and subscribed before me
day of
December, 1997.
Notary
~ Nlll:lft.1ISl'il!
flrllttr.l,' ,J. r,1',JI'fjU.'I.NlJliUY PUbli~
M' ~ IllJiHJll1l1. nlllh': COUrily
~~~I~on C"Plll',r, ,llltll/ 12.2000
umlwr, 11Ill!l1:;y;~;:jij-;aAj~;i7;'liJtlul1lJ' ol,llllm
RDO/52511/01~JO.719
CORBSTATBS BANK, N,A.,
successor by merger to Meridian
Bank and First National Bank of
Bath,
IN THB COURT OF COMMON P~BAS OF
NORTHAMPTON COUNTY, PBNNSYLVANIA
CIVI~ ACTION . LAW
Plaintiff
No.
vs,
CONFESSION OF JUDGMBNT
ANDREW L, CO~LINS and GEORGIA
COLLINS,
Defendants
CERTIFICATE OF ADDRESSES
The undersigned certifies as follows:
1, The plaintiff's address is:
CoreStates Bank, N,A.
600 Penn Street
Reading, pennsylvania 19603
2, The defendants' last known address is:
Andrew ~, Collins
Georgia Collins
2646 Lynnhurst Drive
Bethlehem, Pennsylvania 18017
DATED: December~, 1997
RDO/51571/01~JO.11'
Exhibit A.
, ,'10379-352A-OO
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jVARIABLE RA'rE) _'rERM LOAN PjlOMISJ!9.BX- ~0'rE.
S280.000.00
Bet.hlehem, pennsvJ.vania ,
Juno 'JJ, 1991
ANDREW L. COLLINS and GEORGIA COLLINS, husband and wife,
for value received, without defalcation or deduction, intending to
be legally bound, jointlY and severallY promise to pay to the order
of FIRS'r NA'rIONAL BANK OF BA'rH the principal sum of 'tWO HUNDRED
EIGH'rY 'rHOUSAND DOLLARS ($280,000.00) together with interest at the
rate specified in the "Interest" section of this Note, in the
amounts and at the times set forth in the "Interest payments" and
"principal payments" sections of this Note,
IN'rERPRE'rA'rION
Defined 'rerms, The following terms shall have the
following meanings:
~usiness DaV. Any day other than a Saturday or
Sunday on which banks in Bath, Northampton County, pennsylvania are
open for the transactions of banking business,
Event of Default. As that term is defined in the
"Events of Default" section of this Note.
Maker. Andrew L. Collins and Georgia Collins,
husband and wife, of 2646 Lynnhurst Drive, Bethlehem, Northampton
County, pennsylvania, jointly and severally, and Andrew L, Collins,
trading as Collins Restaurant.
.
.
l{ote, This 'rerm Loan Promissory Note and all future
amendments to this Term Loan Promissory Note,
Pavee, First National Bank of Bath, a banking
institution organized under the laws of the united states having
offices at Main and Walnut streets, P,O, Box 38, Bath,
Pennsylvania,
Pavee's Prime Rate. The floating annual rate of
interast which Payee designates as its "Prime Rate" and means
Payee's benchmark rate defined as follows: A pricing mechanism
used as a basis far setting specific loan rates to individual
customers. Payee's bencrunark rate is based upon numerous factors,
including its supply of funds, its cost of funds, its
administrative costs and competition from other suppliers of
credit. The interest rate actually charged to a customer for a
specific loan may be above or below Payee's benchmark rate,
depending upon many variables, including perceived risk, length of
the loan, competition and overall customer relationship.
Related Documents, Individually and collectively,
this Note and all other existing and future agreements, promissory
notes, mortgages, security agreements, assignments, pledges,
leases, financing statements, commitment letters, instruments and
other documents delivered by or on behalf of the Maker to the Payee
in connection with this Note, and all existing and future
amendments to those agreements, promissory notes, mortgages,
security agreements, assignments, pledges, leases, financing
statements, commitment letters, instruments and other documents,
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Governinq, Law. This Note shall be governed by and
interpreted in accordance with the laws of the Commonwealth of
Pennsylvania.
INTEREST
Rate.
(1) Interest shall accrue on the unpaid principal
amount of this Note at all time at an annual rate equal to the then
current Payee's Prime Rate plus two percent (2%) per annum, but at
no time shall such interest rate be less than eight and seventy-
five hundredths percent (8.75%) per annum during the term of th.l's
loan.
(2) The rate of interest payable pursuant to
paragraph (1) shall adjust and change whenever Payee's prime Rate
changes on which amounts are due and payable under the terms of
this Note.
Computation. Interest shall be computed on the basis of
a three hundred sixty (360) day year for the actual number of days
elapsed (365/360 or 366/360, as the case may be),
PRINCIPAL/INTEREST PAYMENTS
The Maker shall pay the principal amount of this Note,
together with accrued interest at the annual rate set forth in the
"Interest" section of this Note, in:
(1) One hundred seventy-nine (179) installments of
principal in the amount of One Thousand Five Hundred Fifty-Six
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Dollars ($1,556,001 each, plus accrued unpaid interest on the
outstanding principal amount of this Note as billed, commencing
July.2. S', 1993 and continuing on the same day of each following
month through and including MaYAS, 2008; and
(21 One (1) installment on June 1.S', 2008 in the
amount of One Thousand Four Hundred Seventy-Six Dollars ($1,476.00)
plus any then unpaid principal amount, and all accrued, unpaid
interest, late charges and collection expenses with regard to this
Note.
PRINCIPAL PREPAYMENTS
Prepayment, The Maker may prepay the principal amount of
this Note at any time and from time to time, in whole or in part
without premium or penalty,
Application. The Payee shall apply all prepayments of
the principal amount of this Note byl:.he Maker to principal
installments due under this Note in the inverse order of their
maturities,
Future Scheduled Pavrnents. The Maker's partial
prepayments of the principal amount of this Note shall not affect
in any way whatsoever the due dates or dollar amounts of any
subsequent scheduled principal payments with regard to this Note
unless and until the Maker has paid in full the principal amount of
this Note.
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Pl\YMENTS
~2' All payments of principal, interest, late charges
and collection expsnses with regard to this Note shall be made in
lawful money of the United Statcs of ~nerica in Dollars immsdiately
available funds at the Payee's office at Main and Walnut streets,
P.O. Box 38, Bath, Pennsylvania 18014, or at such other place as
the Payee shall designate in writing.
Due Dates. If the due date of auy payment under this
Note is not a Business Day, that payment shall be due on the next
succeeding Business Day. However, any amount upon which interest
accrues shall continue to accrue interest until actually paid.
Late Charqen. If the Maker fails to make a required
payment within fifteen (15) days after the due date of that
payment, the Maker shall pay to the Payee, as a late charge, an
amount equal to five percent (5%1 of the required payment.
Applicat.ion, All pa~ents with regard to this Note shall
be applied to the payment in full of the following amounts in the
following order:
(1) all expenses incurred by the Payee in
connection with the collection of any sum due under this Note
(including but not limited to reasonable attorneys' fees and court
costs), whether incurred during the pendency of an Event of
Default, after acceleration of the indebtedness evidenced by this
Note and on Or after the maturity of this Notel
(2) all accrued, unpaid interest with regard to
this Note;
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(3) all accrued, unpaid late charges with respect
to this Note; and
(4) the unpaid principal amount of this Note,
EVENTS OF DEFAULT
Events of Default, Each of the following events shall
constitute an Event of Default under this Notel
(1) The failure by the Maker to make any required
payment under this Note or any othsr instrument or obligation of
the Maker to the Payee within fifteen (15) days after the due date
of that payment;
(2) The failure by the Maker to make any requirsd
payment under any Obligation or instrument for borrowed money
(other than this Note and any instrument of obligation with an
unpaid principal balance of $5,000 or less) on or before the last
day of any grace period provided with regard to such payment;
(3) The failure by the Maker to observe or perform
any covenant, condition or provision contained in the Related
Documents (other than those described in clauses (1) and (2)), if
the failure continues uncured or unwaived for fifteen (15) days
after written notice from the Payee to the Maker and the other
parties;
(4) The filing by the Maker of a voluntary petition
in bankruptcy or a voluntary petition or any answer seeking
reorganization, arrangement, readjustment of the Maker's debts or
for any other relief under the Bankruptcy Code, or under any other
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existing or future Fedaral or state insolvency act or law, or any
formal written consent to, approval of, or acquiescence in, any
such petition or proceeding by the Maker;
(5) Tho application by the Maker for, or the
appointment by consent or acquiescence of, a receiver or trustee
of, the Maker or for all or a substantial part of the Maker's
property;
(6) The making by the Maker of an assignment for
the benefit of creditors;
(7) The filing of any involuntary petition against
the Maker in bankruptcy or seeking reorganization, arrangement or
readjustment of the Maker's debt~ or for any other relief under the
Bankruptcy Code, or under any other existing or future Federal or
state insolvency act or law, and the continuance of such event for
a period of sixty (60) days undismissed, unbonded or undischarged;
and
(8) The involuntary appointment of a receiver or
trustee of the Maker or for all or a substantial part of the
property of the Maker, and the continuance of such event for a
period of sixty (60) days undismissed, unbonded or undischarged,
(9) Any significant deterioration, in the opinion
of the Payee, in the financial condition of the Maker as
represented by their personal and business financial statements
dated July 31, 1992 and December 31, 1992,
(10) The failure of Maker to deliver to Payee,
within ninety (90) days after the close of each fiscal ye~r of
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Maker, personal and business financial statements prepared by an
accountant in form and content satisfactory to Payee, and a copy of
Makel;"S federal income tax return for each such year, when
completed.
RIGHTS AND REMEDIES
Acoeleration. Upon the occurrence of an Event of Default
described in clauses (1), (2) and (3) of the "Events of Default"
section of this Note, and so long as thp. Event of Default shall
continue uncured or unwaived, the Payee may notify the Maker in
writing that all amounts due under this Note are immediately due
and payable.
Automatic Acceleration. Upon the occurrence of an Event
of Default described in clauses (4), (5), (6), (7) and (8) of the
"Events of Default" section of this Note, all amounts due under
this Note shall be automatically and immediately due and payable,
without any action by the Payee,
Increased Interest Rate, Upon the occurrence of an Event
of Default described in clause (10) of the "Events of Default"
section of this Note, the interest rate on the unpaid principal of
this Note, for a period beginning three (3) days after written
notice to Maker of such failure and continuing until Maker is in
full compliance, shall increase one-quarter of one percent (.25%)
for the first thirty (30) days of said period and an additional
one-quarter of one percent (.25%) during each succeeding thirty
(30) day period or portion thereof,
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Subsequent Riqhts, Remedies, On and after any date on
which this Note becomes due and payable by its terms, whether by
acceleration or at maturity I
(1) The Payee may exercise any and all of its
rights and remedies for the collection of this Note, whether set
forth in this Note or othl!lrwise available under the laws of the
Commonwealth of Pennsylvania or any other jurisdiction; and
( 2 ) TilE FOLLOWING PARAGRAPH SETS FOR'rH A WARRANT OF
AUTHORITY FOR AN ATTORNEY TO CONFESS JUDGMENT AGAINST THE MAKER.
IN GRANTING THIS WARRMIT OF ATTORNEY TO CONFESS JUDGMENT AGAINST
THE MAKER, THE MAKER HEREBY KNOWINGLY, INTENTIONALLY AND
VOLUNTARILY, AND AFTER CONSULTING WITH SEPARATE COUNSEL OF THE
MAKER, UNCONDITIONALLY WAIVES ANY AND ALL RIGHTS THE MAKER HAS OR
MAY HAVE TO PRIOR NOTICE AND AN OPPORTUNITY FOR HEARING UNDER THE
RESPECTIVE CONSTITUTIONS AND LAWS OF THE UNITED STATES, OF ANY
STATE, AND THE COMMONWEALTH OF PENNSYLVANIA, THE MAKER, BY
EXECUTING THE FOLLOWING SIGNATURE LINE, ACKNOWLEDGES THAT THE MAKER
HAS READ AND THAT THE MAKER COMPREHENDS FULLY THE EFFECT OF THIS
CONFESSION OF JUDGMENT PROVISION:
/'; /, ~;) .
.....4fn, cL...) c' /-t...,
ANDREW L. OLLINS
~~-('t' ~A/hA' ---"
~E GI CO LINS
ANDREW L, COLLINS, tla Collins
Rest urant
~.) :i. ..)
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The Maker authorizes and empowers any attorney of any
court of record in the Commonwealth of Pennsylvania, or elsewhere,
to appear for and to enter judgment against the Maker for the then
unpaid principal amount of this Note, together with all accrued,
unpaid interest, costs of suit and reasonable attorneys' fees, with
or without declaration or stay of execution, and with release of
errors.
The power to enter judgment against the Maker shall not
be exhausted by any exercise of the power and shall continue from
time to time and at all times until full payment of all amounts due
under this Note.
The interest rate provided in this Note shall apply to
the indebtedness evidenced by this Note before, on and after the
date or dates on which the Payee enters judgment on this Note,
Waivers. The Payee's failure to exercise, or delay in
exercising, any right or remedy set forth in the Related Documents
shall not operate as a waiver of any right or remedy, except as and
to the extent that the exercise of such right or remedy shall be
barred by an applicable statute of limitations,
The Payee may waive the Payee's rights and remedies set
forth in the Related Documents only by written communication
executed and delivered by the Payee to the Maker.
No single or partial exercise of, or abandonment or
discontinuance of exercise of, any right or remedy set forth in the
loan ~ocuments shall preclude any other or further exercise of such
right or remedy, or the exercise of any other right or remedy.
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. 'lci381~002~00
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CONFESSION OF JUDGMENT AFFIDAVIT
COMMONWEALTH OF PENNSYLVAlIIA
FIRST NATIONAL BANK OF BATH,
Plaintiff
vs.
ANDREW L, COLLINS and GEORGIA
COLLINS, husband and wife, and
ANDREW L, COLLINS t/a COLLINS
RESTAURANT,
COUNTY OFnlJ.'1--t:h~
Defendants
ANDREW L, COLLINS and GEORGIA COLLINS, husband and wife,
and ANDREW L. COLLINS, t/a Collins Restaurant, being duly sworn
according to law, depose and say that they are the Debtor-
Defendants in the above matter and
1. That the attached Term Loan Promissory Note relates
to a commercial loan because it evidences an indebtedness due to
the consolidation of business debts and expenses.
2. That at the time of signing the attached Term Loan
Promissory Note, the Debtor-Defendants understood that the Term
Loan Promissory Note contained a provision for judgment by
confession, that a judgment by confession provision is one of the
most drastic and powerful remedies of the law, that the Plaintiff
may cause a judgment to be entered against the Debtor-Defendants
without any prior notice to the Debtor-Defendants and without
opportunity on the part of the Debtor-Defendants to have a hearing
in court to present any defenses they may have to the entry of the
judgment, that such judgment may be entered for the entire
principal amount of the Term Loan Promissory Note, together with
interest, court costs and collection fees, and that such judgment
would constitute a lien against the Debtor-Defendants' real estate
and would subject the same to sale by the Sheriff,
3. That the Debtor-Defendants, with full knowledge and
awareness of their due process rights to pre-judgment notice and
hearing, do voluntarily waive the same, and with full knowledge and
understanding of the above mentioned facts and consequences, do
voluntarily sign the attached Term Loan Promissory Note which
contains the confession of judgment provision,
Meridian Bank
Amendment to Promissory Note
TO
PROMISSORY
NOTE
October 1. 1996
,
and
batwa,n
by
dalad
Anrlnnlll T~I~.n,~Pn~ENT
, iMaka"I, and MERlOIAN BANK, a Pannaylvanla banking co'poralion ipayu').
hu.band/wl"
BACKGROllNO
On Juna 2~. 1993 ,Makar ..acutld and dallvarad 10 Payulle p,oml..ory nota In tha o,lglnal principal amount 01
.Two Hundrad Sovanly Ona Thoullnd Nlnl Hund,ad Fortv SI. and Q~/l00
Oollara ($ :n',946,9~
provldllor changuln thl prlnclp"I,lnla,..' rala & replymlnt 'a,ml
_ ) (Ihl 'Nole'). Makar a~d paya. da.1I1 to amlnd tha NOla 10
of th. Nola.
NOW, ntEREFORE, tha partlea ha,alo, Inlandlng to ballgaJly bound, haraby ag'al.. 'ollowa:
1. Prlncfp.l. Tha Nota II h..aby amanded IQ that thl p,lnclpal amount .hall be Two Hundred ANeen Thou",nd Four Hundred Forty
Four and 00/100 Oollara ($ 21M44,00 ).
2. Intarest FIIlla. from and aNerSoptambar 26,1900 . Inta..a. on the unpaid principal balance of thl Nola ohan be
payahle It 9 7~-x. pe, annum unlll neclambtH 26 1999 and thereafter ot the Bank's
National qommelclal Rat. + 2.00%
3. Repayment Term..
Principal and Interest are due end payable In 36 consecutive monthly
Installments of $2.611.51 each, beginning October 25. 1996 until
September 26,1999 and, thereafter, the then unpaid principal balance, shall be
due and pa~able In 104 equal monthly Installments. together with Interest at the
rate referred to above. One final payment of any remaining unpaid principal and
Interest Is due and payable on June 25, 2008.
4. Prepayment.
(I) .Jt
~ thl Nola Is propald
S.. anachld ,Ider
praplld,
for any reason, thl Maker shall pay to the Pay.. I prepayment privilege ffle equal to
perclnl (__ %J of the principII amount
(b) _ This No'a may be p,apald, f,om lime to lima, wllhout pramlum or penally,
(0) _ Any partial pr.payment. 01 prinCipII shall b, In Integral multiples of Thousand
Oolla.. $ ), .hall be appllad against achaduled plymenls of principal In the Inva..a order of matu,lly, and
.hall not pu.tpon. or r.duc. any rllgularly Ich.duled paym.nt 0' principal or Intlrut.
~, Thlslnalrumanlahall bl dumad 10 be a part of Ihl Not..
..
e. CONFESSION OF JUDGEMENT
MAKER HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS BANK, BY ANY AUTHORIZED OFFICER, EMPLOYEE OR
AGENT, OR BY ITS ATTORNEY, OR BY THE PROTHONOTARY OR CLERK OF ANY COURT OF RECORD IN THE
COMMONWEALTH OF PENNSYLVANIA OR ELSEWHERE WHERE PERMITTED BY LAW, UPON THE OCCURRENCE OF A
DEFAULT, TO APPEAR FOR AND CONFESS JUDGMENT AGAINST MAKER IN FAVOR OF BANK IN ANY JURISDICTION IN WHICH
MAKER OR ANY OF ITS PROPERTY IS LOCATED FOR THE AMOUNT OF ANY OR ALL OF THE LIABILITIES, TOGETHER WITH THE
COSTS OF SUIT AND WITH ACTUAL COLLECTION COSTS, INCLUDING REASONABLE ATTORNEYS' FEES, WITH OR WITHOUT
DECLARATION, WITH RELEASE OF ALL ERRORS, WITHOUT STAY OF EXECUTION AND THE RIGHT TO ISSUE EXECUTION
FORTHWITH, AND FOR DOING SO THIS NOTE OR A COPY VERIFIED BY AFFIDAVIT SHALL BE A SUFFICIENT WARRANT. MAKER
HEREBY WAIVES AND RELEASES ALL RELIEF FROM ANY AND ALL APPRAI6EMENT, STAY OR EXEMPTION LAW OF ANY STATE
NOW IN FORCE O~ HEREINAFTI!R ENACTED.
MAKER ACKNOWLEDGES THAT BY AGREEING THAT BANK MAY CONFESS JUDGMENT HEREUNDER, IT WAIVES THE
RIGHT TO NOTICE IN A PRIOR JUDICIAL PROCEEDING TO DETERMINE ITS RIGHTS AND LIABILITIES, AND MAKER FURTHER
ACKNOWLEDGES THAT BANK MAY OBTAIN A JUDICIAL PROCEEDING TO DETERMINE ITS RIGHTS AND LIABILITIES, AND
MAKER FURTHER ACKNOWLEDGES THAT BANK MAY OBTAIN A JUDGMENT AGAINST MAKER WITHOUT MAKER'S PRIOR
KNOWLEDGE OR CONSENT AND WITHOUT THE OPPORTUNITY TO RAISE ANY DEFENSE, SET OFF, COUNTERCLAIM OR
OTHER CLAIM MAKER MAY HAVE, AND MAKER EXPRESSLY WAIVES SUCH RIGHTS AS AN EXPLICIT AND MATERIAL PART OF
THE CONSIDERATION. THE FOREGOING POWER TO CONFESS JUDGMENT MAY BE EXEilCISEO AGAINST MAKER AT ONE TIME
OR AT DIFFERENT TIMES AS BANK ELECTS UNTIL THE LIABILITIES ARE FULLY DISCHARGED.
7. All (eferences to the NClo In documents delivered to the Payee In connectIon wIth the Credit Accomodatlono butw.en the Mllker and the Payee
sholl be deemed foleroncas to the Note as amendod herein.
8. In 11/1 respects, the Note lIS hereby ratified and confIrmed.
IN VIITNeSS VYHEAEOF, the parties hereto have caused lhll Amendment to Proml51Sory NOlO 10 be duly uecuted Bnd delivered the day and year
first above wrItten.
Borrower (If Indivlduuls, partnerships, otc.)
Borrower (II corporaUon)
Corporale Name
By:
Titlo;
By:
TiUe:
Attest:
TItI.:
'Mine..
MERIDIAN BANK
By:
TltI.:
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