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HomeMy WebLinkAbout98-04022 :1' 'I " .i- t'i, 1< " .), " ~ \"" I )'1 t \J (~ i ,.,. 1 I ~I \ ~I <~ l ~ \.... ~ t'l " " ., " ." " 'I. 1'1 " i,! " ',', I' " .' " " " " " ,; I.' " " " , '" " Ii; ;--' I' " " I" .. Ii " !\ " i'l " Ii " '" ,; i' 1', i' I ~ ,i " i' 'I; " I' 'i ji i" " " ,i " ,,' ,I Ii ii ;;1' " ." " 'j:! " to , n :1, " " , " " " .1 ~I ~; I " " ,j',' ",' :/ " f' j; " " .. :--- S ..... ~ " iI" " 'I, " j I'" !i ~ "'t/ ~ " I: I ~ ()'-I ~ a, P~Ir~~I!'Inllo Iha As~lgnl11anl Agraamanl, pafamlf.1nl axaoljleq II PrOmhHlPry Nola, f.1 oopy of whlohll3 flltf10had 11I3ralp f1nd ITIFldt;! 1'1 P~Ht harapf I'll> gxhlpll ,,"~", 7, The Pl'oml13130IY Nola proVlqad II1F\I ~Ipon f.1n avanl of qafFl~III, PIFllnllffs, PY nolloa In wrlllrl(1 to Pafandf.1nl, mf.1Y qaol~m:l FllIlIFlPlllllal3 Flnq 9pllgf.1l1ons of Pafen~tFlnt Immadlfllaly !:lnd pFlYFlI~la, 8, Tha Promll3l3ory Nola deflnas "avants of dafFlult" 10 Inolude dafandf.1nts daff.1ultlng,Qn 11113 pf;\ymanl wl1l3n d~Ia of prlnolpf11 of or Inlarest on Iha Nota whloh defFlult oontlnueq unrameqled for f.1 period of len (10) df1YI3 f.1fter Wl'lttan notloe from PIEllnllff, .. . " a" The Nota further deflnal3 "In. evenl of defFl~llt" to Inol\lda Flny dafa~I,lIln performf.1noe Py PefendElnt of Flny 0111131' oondlllon or oovenant oontl'llnec:lln the Nole whloh rel1lFllned unremedled fora parlod of Ian (10) dFlYs Flfter written nolloe of 110lder, ' 10, A payment WFlS dlle on MFlY 20, 199B from PefendElnt to PIFllntlffpursuFlnt to the tel'ml3 of the Assignment Agreement Elnd/or the Pl'omls13ory Note, I 11, PefendFlnt fFllled or l'efUl3ed to 111F1lle pFlyment In the amount of $32B, 1 0 on 6'1' pefore MFlY 20, 199B FlS requil'ed Py the Al3slgnment Agreement find/or the " Pl'oml13sory Nate, .' .j 12, By oorrel3pondanoe dFlted MElY 20, 199B, PIEllntlffs demElndad payment of ' the amount due, a oopy ofl3Elld Nolloe 113 ElttElOll13d hereto Elnd mElde El pElrt hereof FlI3 . 8xhlplt "0", , , , 13" SElldNotloe WElS l3ent on MElY 20, 199B Elnd waa racelved PY Pefendant on I .. . MFlY 21,'199B, " II. 3 ,." ~IffiIElOATION WB, GBPflrey Ilncl PBI)orI111 KBI\I1, VBrlly 111111 we are 11113 Plllln\llls In IIw fOrB(loln[l IIp\lon Ilncl \11111 11113 l\\\l'\pI1Bcl Opmpllllnl Is Pllsllcl pron 11113 Inlol'l11llllon wl1lol1l1lls peen [I1'\\lwr!lcl py p~, pur QPpn~elllncl/pr oll1ers on p\jr pelll\lIln pl'epl'\rll\lon pf \l1la lf1waul\, TI1B IllnO\IIl[l!l of 11113 OPl11plf1lnlls , II1f1\ of oO\.lnsal1\nclla no\ Purs, We l1fwe rallcl 11113 Oompllllnl, f1ncllo 11113 fl~IBnllllll\ Ilia 1)f1secl \lpOn Infprmllllpn wl1loh we I1IlVB [lIven 10 ppr oPul1sel, 1\ Is IrLie IlneJ cprrepI Ip llie pesl pf our I\I1PWlacl,ge, Inf9rl111lllpn, Ill1cl pellef, To 11113 ax\enl 11111\ 11113 Qonlenla uf 11113 OOl11plllln\ IlrB 1I1l1\ pf " cpunsel, wal1llve rallecl PpOI1 omll1slllln 1111llllng 1I11s Varlflol1l1ol1, We unclerst!mclll1E\1 Il1lenllonl1l IlIllla all1\el11el118 I1lll'ell1l\rel11i:lde BupJIlQI 10 11113 pel1l1ll1es of 18 PIl, 0,6, ~4904 rell1llng 10 \lI1aworn IlIlalflpf1\lol1s l11l\clBlol\Ull1orllell, pille; 1 IN) /78 I') 7,/. '19 I-? I . I ,;// ( / j . ,~(1(1~/2 (.X.,)', .1."(:1'.1,,' , peporlll1 1<131\\1 DlIlBI i( ,. " " " '" " " a ..' .,1,"; 1 Ir.. ,. , 1~-t1 , !lATlCI . ~l:ilG!Sl\lEl'l~~\.Um~J~MJl:IST ~_'.1!l9H . I'AH'I'HCH: HIIWllll\\'ll,lno,' p,o, nil" 604 nolllnl! Hpl'lnlls, PI\ 17007 Oool'l'l'cy nnd Dcbol'nh Kolth 0/0 llolllnu Hpl'lnll~ Tn\'ol'l1 Flr~IIlI1\1 Fl'ol1\ HII'OOI~ Uolllnll Spl'lnlls, PI\ 17007 "CUllIllnn)'" HOW 1~~lIh~I" HI~CI"'A',SI A,. CnI11PIlI1)' HllIllho I\ollhs 111'0 plll'llIlH 10 III~o!lll'lcllw Hhlll'o 1\1l1'0011101l1 tlnlod POcoll1ilol' II, 11)92 Ohc "HO!ltl'lotl\'o Shlll'o 1\I!I'OIl"lOl1t"), n onp)' 01' wllloh Is l\l\l\chod 1101'\110 ns HlIhlblt 1\, . .. Il, PllI'slIlIntto Ihc gO!ltl'loll\'o SIHll'o Agruonwnl, tho I\olths hlld lhc oPllon to 1'0~\llru Iho COl11pllny to I'op\ll'chnso lho 400 SIHlru!l 01' 001111110n nlook of' tho Cpl11plln)' oWllOl1 b)' tho l<olth!l (1110 "SIt'Il'PS") on 1110 tCl'llls(lnd oondlllon8 !IQllhnh In 1119 Roulrlcllvc Shnl'o AgrounlOnt. c, 1'III'S\llIIH 10 Soollon 1,2 Ilf' Iho Routl'\l:llvc Shlll'u 1\!\I'OOnlOnl, tho l\ollhulHlVo ilcllvorutlll1 tllo COlllpllny wl'll\onnolloo Ihllllllo)' hnvo clloNcn to oxol'oluo Iholl' l'ighllo l'c~\lll'u Ihll complln)' 10 plli'ohllSO tho Shlll'cU, C, . PIII's\lnnt 10 Soollon 2(11) of Iho Roslrlotl\'o SlIlIl'o Agl'oonwnl. tho COl1lpnny IInu . dclol'lnlnod 1I\II11ho hlllher I'lII'CIH\UO pl'ko Ihl' Iho Kl\ltlis Shlll'eu lu Iho lilll' Il1nl'ko\ \'111110 of' tllo 'Cnlllplln)' dlvldell b)' lhe 101Iilllllll\bcl' ol'uhl\I'Oslll'Ct1Illplln)' s\pck Isullod nnd O\llsllIndlllg 111111tlpllod by 400, 01' $n,ooo (llIo "I'll.'ohIlH.o JlI'lco"), D, Tho j1llrllos dosll'e to pill In writing their 1I1l1'comcnlsl'clnllng to tho 11I1I'ohl\so by thu CompnllY 01'1110 Shlll'CS, AGlUCICMICNT: Now; Ihcl'ol'oro, '111 cOlluldol'l\lloll of Iho Ibrognlnll I'ooltnls which Ul'o IlloorJlol'l\lo~1 horch\ by rol'orcnce, nnd 011101' good nnd Vllhlnl\lc conHldel'lltlon, tho I'oeolpl nnd slIfIlolollCY of which lI!,e 1I0rel\y 1I0knowlodgoll, Iho pllrlloR hOI'oto ngl'oo uu fhllowHi' l. "J:utl:IlJJJil:, Tho COl11pun)' hCl'oh)' ngrooH 10 plIrchuuo lI'ollllho Kohhu nnd tho /(oldls heroby IIllroou to soli 10 COI11PUll)' lho ~hl\l'c!l fbi' Iho PlIl'chuuel'rlco, , 2, P.utl:Jlllso )l1'looLl~lI~lllClll, PlIl'SlHml 10 lho discrellon glvon to II In ROlltloll 3 orlho Rostl'lotlvo Rhnrc All1'001110nl, tho COlllpnn)' slWII Pll)' tllo lI\11'ohnse Prlco UH follows) $5,000 III eOl'lIncd check ut Closing (s,OO Seclloll 3 below) Ullt! $32H,IO Oil 01' bolbl'e Ihc 20lh oronch I' i i " ".. , ' "1' .( ,/ /.', , , ~'ih h",lnnln, wllh Ih, n"" 1\,11 '""",h '''"''w''" II" ,Inl' ,l'lhl. ^""I!'"''' ,,,' I! '""" "I' (,I! .. ,,' 'nWl1l1w, whl~h I'~PI'\lS~l1ls II pl'lIwlplIl hllllll10ll Ill' $17,000 pillS l11\ul'ulIl III 5.1)]%1, \lIu t\ppll~lIhlu Fu\lul'lIll{lIlu lis III'\IW dll\1l III'IlIls I\UIUUmUn\, Thu Cllnlplll1)' sllllll oxu~lllu llw I1l'ull1lssol')' Nolu l\llllolllJd \\lllllst\!!IWI1Wlll liS Iixhlhl\ II OOl1OIII'l'UI1\ wllh lh~ pIII"I~s'\lxOtl\lllul1 Ill' lhls t\UIWlllOl1l, 3, Clu:illlll, Th\l /1111'11011 II!!IW Ihlll C1ush1!l Shlllllllku plll~~ h)' 1111111, TI10 K~lIh~ will ~X~\l\II\l this ^ss1UI1I1WI11 ^!!1'OV1110111 1111\1 I'Ullll'Il II 10 CII'Il1PIlI1)"S \lulll1sol, Ihllihlll1l1l1ll1!!Ol'soll, p,c" 30 Nol'lll Thlrtl HlIWI, lil!!hlll Fluul', IllII'l'lshlll'll. 1'/\ 1710 I. lIllll1!!wllll \lIull' ul'i!\111111 SI\1Uk 0~1'l111~1I10, Upol1l1fl\1 liS PI' CU1llPIlI1>"S oUlll1s\J1 's I'o~olpl tll' lho Oxoo\llo\ll\ssIUl1l1lOl1l ^gl'\l~l1lOl1l IIl1d urluhll\lllll1~k 001'111101110 I'l'pl11lho 1\01111111 111\1 CIlI11PI1l1~ shllll Onlll1lol"IlXOOIllo IIw AsslUI1I11U111 Alll'u0I1WI11, \ll\\llllllo thQ 1'/'OII1ISHl11'>' NPlu II1HII'~11I1'I1110111 hy OU1'1I11ol11111111 10 Iho KllllIIs, IIlol1U wllh II oOl'llllocl Illlock 1'01' $5,(lOO, 4, .lilllwHill, 111 o0l1shlol'Ulilll111l'lhu 11!!I'UU1l10111s mudo h>' \110 PlIl'lIus hUl'oll1, olluh Plll'l>' h\ll'ub~ I'OlollSOlilho ulhol' (i'u/1\ ul1tl IIUllll1S1 1111>' UI1t! 1111 \llnII11N, IIIWSIII\s, t1ol11l1mls, dIlI11I1UOS, 1\l~s\lS, 1111011, OOlils I1l1d OXPOI1S\lS (lIwllltlll1!l 1'0llSIll111hlo 1I1101'110ys' lUllS IIl1d dlshIlI'SO\1WI1\s), I'olllllllllll 11'0111 01' 1'01llthl1l111 III1Y WilY 10 I\I1Y 01111/1\ 01' t10lnlll1t1I1Hlllu 01' IhI'OIlIUIWd, 11I'lsll1g 0\11 of 01' 1111\11 WI\)' 1'01 1111 11 u10 1\11>' 1I0\111l1ll\koI101' O/1\i1\otllo IIl1Vo hOUl1ll1kol1 h)' ollhol' plIlly 111 00111111~11011 wllh lho 111111101'11 IIdtll'0IiSIl\111111lIs 1\1l100111Onl. 1110 hllslnoss Ill' I\mlll's Ill' 1110 Clllllpl\ny wlWlhorlwlill'o OI'nnOI' Iho dlllo or lllls 1\1l1'00nlUI1I111 \l'1\h Iho 10Slllllllllll nl' 1110 t1ull1llllLl I11l\do b>' Ihu KoltllH III COI11PIlI1>' 10 pIIl'uhllSU lllu ShlllOS (1l1chldll1g n\lol'l1o>'s' l'ocs !ll1d dlsblll'sOl1lUl1ls 111O\II'I'Odll1 00111100110n wllh nny SO\llcl1lUl11 of lilloll UIIlII11, no\lul1, Pl'oooolllnu 01' Il1vost/uIlIlOI1); 11I'ovl<I~'d howovor thlll III1Y slIoII lIut/OI1 tllkoll 01' oll1ll1otl 10 11111'0 hool1 tnkol1 hy ollhol' pnl'ly Is 1101 dOlll'l'l11ll1o<llo oOl1sllIlIlo wllll\lll11lsool1dllul, 1l1'0SS 1101111!!0I1uO 01' bl'unuh nl' nl1Hllul'lnl pl'ol'lslol1 of' IIII~ t\gl'uOl1lOl1l wllh 1'0S1'00\ to Ihull111l101' 01' I1HI\lors ns 10 whloh nl'olonsu Is sOll!!ht. " 5, Oluilirut. A, &l.\~llrulilljlX, Tholl1l'nlldllY 01' IlllUl1lbl:conbllhy of'III1Y pl'ol'lslol1 1I0l'oof'shnll 111 110 WilY \l1'/'0011l1O Ylllldlly 01' ol1fbl'oul\blllly of I1I1Y olhul' pl'ovlslol1, . /], EIl1iJ:lui.ullllil1lll11, This l\gI'UUIlHlIl\ sllpol'sedus 1111 p!'el'lo\ls 1\111.1 \l01110111pl11'l1l1UOllH ,Ol'l1ll1ogollnllolls, cOl11l11l1l1lUllIs, \l'1'llll1lll1l1d IIlll!tnsllIl1dll1UH ho(weuli lho PlIl'lIos eOllool'llll1lllho 111111101's 111 this t\llI'001110111, '. H c, Muill110ntlol1U, This ^U1'001110111 I11ny l1ul ho oh!ll1llcd 01' ICl'llllnntud ol'l1l1y, No nlOdlflcntlol1, 101'1llItlntl()i1 01' nl\Ol11plod Wllll'Ol' ol'nl1)' of'lls pl'ovlslul1s shnll bu vnlld 11I110ss 111 wl'ltll1g slgl10d by thu pnl'l>' nUllil1slwllOll1lho snlllu Is sOlluhllo bu ol1lbreod, D, Oovol'l1ll111 1.11\'(, This 1\!!1'001110111l111d nil qIlOSt/OIlS nrlslnllll1eOllllUollol1 with II IIhllll' bu !\01'U1'I10U by tho lilli's of Iho COll1lllnl1wonllh of 1'011'l1s)'lvnlllll, wltholll 1'0101'0l1cO lolhe pl'II1uip10s gOl'Ul'lllng Ihu oOl1fllul of'lho Itlws nppllcnblo Il1lhnt 01' (111)' othol' ,1111'lsdlut/ol1, . " , , ,\ " d' " \: H '], ;'" " " (, ": " " if. 11 .' t'. Ii " " II. " ,. " '! " H I' " " Ii " t! 'i' " , " .! i' .-\11 "" p' ,I' " ,;1; ji 'i, "f" " H i";' ii i' :1 " I',,;, " il " " '1 :" ',I '1(' ji :to I, " , " " 'I ;; ;,' " . i', " " " , \ I " >"j "'/JI, " --.",;) Skhlbll B "'. ,-., -.'" \ '1 "'.' "1 .' " t.' i, I tt----.,.. lUiUIln~~ !) "I\I'f'I~hllJJl} M F~h"III\1')',a: 199" II'OH Vi\I,IJIC HNC\~'\'ILI), Ilw \ll1dul'slgl1~tl, HTHIGIGT(j,\IUl1 INC, (tlMIII\~I'''), 11 1'lll1l1s)'lvlIlIllI ~\lrp\lI'nII(l11 11'1\11 (lfl1o~s III p,O, llox (HH, 131111111g ~PI'II111S, PA 17007 pI'I1I1lIH~H 10 plI)' In IIw 01'1101' \lI'(I\lol'l'rc)' 111111 P~bornll I\uilh ("II\lltlul'''), 11111111'1'10(1 otlllplo wlltlHO 1I(ltll'~HH Is ~/o !l\lIIlI1U Spl'II1Us TII\WI" Frol1\ III'tl FlrHI SlruulH, !lolllnll ~PI'II111H, PA 17007, In 1111111~llhllol)' IIVllllllhlo 1\ll1tlH 1I\lltlill~r'H IIdlll'\lsS SOl 1\11'111 hOl'oll1, \lI' III slI~1I 011101' 1001111011 liS 1110 1'1011101' 11111)' tloHII:II11110 l\'oI11III1Hl \0 111110, !l1O prhwlplIl S\1111 ul' HO\'Ol1lool1 'I'h\lIlHlIl1d 1)\lIIiIl'H ($17,000) plllN '111.tOI'~.,HI III 5,9)%, Ih.u A.PI11I~1\1l/u Fod.u. rlll 1~1I10 nIl' 10ng-Io.1'111 doht OOll1po\lIlllod 111111111I11)' f\lI' .. Fubl'lllll')' 199", This Nu\o s h~llIg IHs\IOd 10 11011101' 111 uOlll1Ou!lPI1 willi 1110 IIHHIll11111OII1 III MilkoI' \)1' 400 HIIIII'OH or slOllk 111 MIIKol' pl'ovl\lIlH1)' o\\,lwtl by H\lltlol' p\l1'HIIII111 lu IIw. ASHlgl111WI11 ^urc~I1l\l111 to \\'hloh IlIls Nulo Is I'lxlllbll n. MilkoI' 11111)' prOpn)' IlIls N(llu 111 whulo PI' PIl1'\ 11'1111\1111 p0I111II)' 1111111)' 111110 Ul' 1'1'11111 Iltl1u lu \11110, pl'o\'ldod 110\\'0\'01', IIHlI sIIoh prOpll)'I1Wl11 sllllll . lil'sl ho IIppllod l\lllll HIIlIls o\\'ud 10 11.011101' 1101'(ll1l1dol' olhul' !lHI11 pl'll1olpltll\l1\lll1loruHI, l1uXI 10 111\OI'CS\,II11d t1Wl1lu Pl'I110lplll. '1'110 pl'ltwlpnl 1111\1 111101'0sl pll)'mol11s 9hllll bo 11H\!lo 111 SIXI)' (60) 01111111 uOI1HooIIII\'tl I11(111111)'II1Hlnlll1wl1l~ ol'Thl'oo I'hmdl'ud '1'11'0111)' Hlllhl I)olllll's IIl1d TUIl COllis ($)2H, 1 0) UI1 Ill' bofoi'vlllo Iwol1llolh ol'ullchlllOl1\h bog11111111g 111 Iho I1I'sl 1\IIII110111h 111'101' Iho \11110 111.11'1.1\11', 11'1111>' 1111)'. 111011101' pl'll1olplIl PI' Inlol'091 ol1lhls Nolu shllll bouol1w d\IO \)1\11 SIII\ll'lhl)', S\l11tll\)' 01' 0111\11)' 1<;1l1dll)', slIoh pl1)'1110111 sMII bo I11mlo 011 IhollOXI Rlloooodll1ll bllSll10HR lillY, All pllymol1ts I11l1do hOl'ollntlol' 91H111 \10 I1ppllod Ill'sl 10 1111 HIII11S owcd 10 11011101' hOl'o\l11llol' f'ol'..Inlol'osl, IInd Ihol1 to . prll1olplIl, or ill R\IOh olhol' ol'dor 01' propol'llon ns 1110 Iloldol', In I\s 9010 IlIsCI'OllOl1, I1HI)' 010011\'0111 " 111110 10 IlIno, , " , .. ~'7,\1II11 , . MilkoI' 911nll bo In dolillllt III1Llol' Ihls Nolo IIpol1 Iho hllpponll1g of nil)' of Iho following 0'y0111s of tloJi\\lh ("lCvcnt Ill' 1>01'111111")1 ~ tlol\l\l1t Il1lho PI1)'111cl1l wllon dllo of Iho pl'll1olpl1l of 01' 1I1101'0sl 0111hls Nolo; which . do(h~~mftllI0H \11\1'(1111)1110\.11\11' II pOl'lod or lOll ( 10) dn)'s nnol' \\'1'1110111101101.1 1'1'0111 Ilold~n " . r(ii).) 1111)' dol\\\lllll1lhc pUl'lbl'lnlll1UO h>' MilkoI' or 1111>' olhol' oOl1dlllon 01' OO\,OIHII;' OOI1II1\I1~ili Ihls Nntu, whloh dolllllll 1)llnllnllUH 11111'01l10dlcd (bl'lI Jlol'lod of' 11.111 (10) dll),s \1('101' \Vl'ltlo111101100 li'OlllHoldon (c) 1111 01' sllbslllnllnlly 111101' tho IIsH~ls of' Mllkcl' mo Hold 10 II Ihll'd plll'l)' who Is IInnft1l1l1lod wllh MilkoI' 01' III1Y Shlll'oholdcl' of Mllkcl'l (d) Iho dls9011l11011 of' Mllkol' 01' 1110 wll1dlng lip 01' lIs IIfTllll'Sllll1d ., ,. I, " _.~-,.-"'- -_..~ --- -,-~.- ..-" -"'" WO\UNG SfYNN~ ,.~ . I' :1' 'ION' 111'1 $llt"l , ~lJlrll'1' $lIflll", f" IIm1 1111111I')6/1 7;;; , f(f/!i tr1A!2.IJ J;;c, A~M :61 ~rrf1fY IS ip<J (jC(JYZlJIt/b {'6 (}I;;Z'f!(/Ifft,11.J(.: ,,/JffV'f/J 2p4' Vfi ~Ut- T 0 (..CU/LS I 0 Lv-1~S" f-I f!7;5(L W/?_/ Ir'l/l) ItNrfl ul. f',f.c!'1 !-J OLDiIl-. iJ o-r'14 01$, IS I Vi041 ON gJ 2of8 ,.', wi hMN.b'f Pl:Cilt,ftJ pfJY'l1f.;J77 8; !;).3 I he ,,' '., TlI? t1. f 1m, ~ ~ a U IJrl.f II\! /)f (fW(T; . '" fir (1'11 Sll/.fl r D1CUW ALGLI~131 Lrn~ K'l 0&.-/ (ATI 0/'1/ ,VJ,., f P4111<3L!( I "iM 10 I,LJ/'2: (.. Y " .. 5/~{ (98 ,f4;~