HomeMy WebLinkAbout03-0621TO:
RE:
Cumberland Valley Cooperative Association
908 Mt. Rock Road
Shippensburg, PA 17257
Robert G. Commerer, Jr.
Maxine J. Commerer
234 Walnut Bottom Road
Shippensburg, Pa. 17257
Demand Note in the amount of $11,711.96
Dated February 11, 2003
The Undersigned hereby certifies in connection with the loan above
referred to secured by a Demand Note containing a confession of judgment
authorizing any attorney or prothonotary of any court of record in
Pennsylvania or elsewhere to confess judgment against the Undersigned: That
the loan for which said Note was given is not a consumer loan; that the
income of the Undersigned (conjugal income if both spouses~ executed the note)
is Ten Thousand ($10,000) Dollars or more; that it was orally explained and
fully understood by the Undersigned that the execution of a Demand Note
containing a confession of judgment clause was a waiver of the right to have
a prejudgment notice and hearing, the right to have the burden of proving
default on Cumberland Valley Cooperative Association, the Creditor, and the
right to avoid expenses attendant upon opening or striking a confessed
judgment and that the Undersigned voluntarily executed the said Demand Note
with a confession of judgment clause knowing that the aforesaid rights have
been waived and that an execution may be issued on a judgment entered on said
confession against their property.
The Undersigned further certifies that they were advised and understood
that they could have an attorney examine the said Demand Note and any other
documents in connection with the loan prior to execution.
WITN~
COMMONWEALTH OF PENNSYLVANIA:
COUNTY OF ~,kl~ :
SS
~~-~~60~, q~ ~T,~J. C~e~.~, being duly sworn
according to law, deposes and says that the facts set forth in
the above certification are true and correct.
Sworn to and subscribed before me,
this //~day of
~ SOUTHAMPTON TWP., FRANKLIN COUNTY]
LMY COMMISSION EXPIRES JAN. I% 2004 ·
Robe~ G. Commcrer,~.
Maxine J. Commerer
234 Walnut Bottom Road
Shippensburg, Pa.17257
$11,711.96
Shippensburq, Pennsylvania
February 11, 2003
In installments as hereinafter stated, for value received,
I/we, promise to pay to Cumberland Valley Cooperative
Association, 908 Mt. Rock Road, Shippensburg, Pennsylvania, the
sum of Eleven Thousand Seven Hundred Eleven Dollars and Ninety
Six Cents ($11,711.96) with interest on the unpaid principal at
the rate of 12.0 percent per annum from date hereof until paid
in full. Said principal sum and intereSt shall be payable in
equal successive monthly installments of $1,040.59 each,
commencing on the 20th day of March, 2003, and continuing until
February 20, 2004, at which time any unpaid balance of principal
hereof and all interest accrued thereon shall be due and payable
in full. All payments shall first be applied to interest due,
with the balance to be applied to principal.
Upon default in payment of any such installments or of
interest when due, or upon failure of the makers to pay for each
purchase on or before the date of their.- next purchase from
Cumberland Valley Cooperative Association, the whole of the
principal sum then remaining unpaid and all interest accrued
thereon, shall, at the option of the holder hereof, become
immediately due and payable, without demand notice.
And further, I/We do hereby authorize and empower any
attorney of any court of record of Pennsylvania or elsewhere to
appear for and to enter judgment against us, in favor of any
holder of the Note for the above sum with costs of suit, release
of errors, without stay of execution, and with fifteen (15%)
added as a reasonable attorney's fee, and I/We do hereby waive
and release all benefit and relief from any and all
appraisement, stay or exemption Laws of any state not in force
or hereafter to be passed.
WITNESS:
VS.
In the Court of Common Pleas of
Cnmberland County, Pennsylvania
Civil.
To
Prothonotary
19
· .~n,,ay for Plaintiff