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INSTALLMENT PROMISSORY NOTE
$120,000.00
December 1, 1997
FOR VALUE RECEIVED, Undersigned, ROBERT A. LAMPARTER and
SOON IH LAMPARTER, husband and wife, jointly and severally
promise to pay to the order of WESTLAND EQUITIES of 2180 #203
White Street, York, Pennsylvania 17404, the sum of ONE HUNDRED
TWENTY THOUSAND ($120,000.00) DOLLARS, without defalcation,
payable in successive monthly installments providing for
amortization over a period of thirty (30) years, commencing on
the 1st day of January, 1998 and on the 1st day of each month
thereafter, as follows:
$1,053.09 each, part thereof to be applied to interest at
the rate of 10% per annum on the unpaid balance of said principal
sum and the balance of such installment payment to be applied in
reduction of said principal sum; provided, however, any unpaid
balance of said principal sum, with interest thereon, shall be
paid at the expiration of five (5) years from the date hereof.
There shall be no penalty for prepayment.
In the event of late payments, charges may be assessed as
follows: Any payments not made within 15 days of the due date
shall have a late charge of 5% of each such overdue payment added
thereto.
If any installment of this note is not paid at the time
specified herein, the entire amount unpaid shall be due and
payable at the election of the holder thereof, and failure to
exercise this option shall not constitute a waiver of the right
to exercise the same at any other time. Undersigned empower the
prothonotary or any attorney of any court of record of
pennsylvania or elsewhere, to appear for undersigned, or any of
them, and to confess judgment against undersigned, or any of
them, for the above sum, with or without declaration filed,
together with costs of suit and release of all errors and without
stay of execution, and in case of default, with attorney's fees
of ten (10%) per cent; and with respect to any judgment entered
hereto, each of the undersigned waives in regard to real or
personal property levied upon, any right of appraisement,
exemption or stay of execution under any law now in force or
hereafter enacted, the right of inquisition (agrees that any real
estate shall be voluntarily condemned and may be sold under a
writ of execution or other writ), the right of appeal, and does
release all errors. Each of the undersigned and all endorsers
waive protest of this note.
Amss:
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