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Home My WebLink About00-08471 ~ , ~ ,~ , c " ,," _ '_, ~ '..',,-. F:\FlLES\DA TAFILE\DBEDS\1 0229-PRASA T Created: 0S/14f(ll11:54:48AM Revised:06/04IOlll:35:10AM CARL RICHARD GELBAUGH and: KRISTINE GELBAUGH, Plaintiffs IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA v. NO, 00-8471 CIVIL TERM CML ACTION - LAW RODNEYP. MYERS and SYNTHIA J. MYERS, Defendants PROMISSORY INSTALLMENT JUDGMENT NOTE PRAECIPE TO SATISFY TO THE CUMBERLAND COUNTY PROTHONOTARY: Please enter satisfaction in full of the above referenced Judgment and issue a certificate reflecting same. MARTS ON, DEARDORFF, WILLIAMS & OTTO B~/~ Edward L. Schorpp, squire Ten East High Street Carlisle, PA 17013 (717) 243-3341 Attorneys for Plaintiffs Dated: June 4, 2001 - "~ " 'lIlli4' F:\FILBS\DA TAFIL[!\DBBDS\1 0229-inst.Ilot PROMISSORY INSTALLMENT .JUDGMENT NOTE h"l I CV ~ 1ftI7 da;J $6,000.00 Date: December 5. 2000 ~_. FOR VALUE RECEIVED, AND INTENDING TO BE LEGALLY BOUND HEREBY, RODNEY P. MYERS and SYNTHIA J. MYERS, husband and wife, having an address at 738 Sandbank Road, Mount Holly Springs, Cumberland County, Peilllsylvania 17013 (hereinafter whether singular or plural called the "Maker") promises to pay to CARL RICHARD GELBAUGH and KRISTINE GELBAUGH, husband and wife, of 1420 Pine Road, Carlisle, Cumberland County, Peilllsylvania, (hereinafter called the "Payee") the sum of Six Thousand and No/IOO ($6,000.00) Dollars, with interest thereon at the rate of Eight percent (8.00%), per ailllUm; said principal and interest being payable in sixty (60) successive installments of Fifty-nine and 09/100 Dollars ($59.09), the first installments payable on January 5, 2000, and the remaining installments on the same day of each month thereafter, each installment when paid to be applied first to the payment of interest accrued on unpaid principal alild the residue thereof to be credited to the principal. The full unpaid balance of principal and any accrued interest is due and payable on or before December 5, 2005. The Maker hereby expressly agrees that in case a default shall be made in the payment of any of the aforesaid installments, or any parts thereof, as and when the same shall become due and payable, then, in any such case, all unpaid principal then accrued thereon shall, at the option of the holder of tins Note, forthwith become due and payable, without demand and notice. Maker does hereby authorize and empower the Prothonotary, Clerk of Court or any attorney of any court of record in the Commonwealth of Pennsylvania, or elsewhere, to appear for it and, with or without declaration filed, confess judgment against it for the above sum with costs of suit, release of errors, and without stay of execution, and with fifteen (15% ) percent added as part of the judgment for attorneys' fees for collection. The undersigned and each endorser hereby waive presentment, demand, protest, and notice of protest and nonpayment. Maker fully understands and agrees to the attached Explanation of Rights which is incorporated herein by reference, THIS NOTE MAY BE RECORDED AS A JUDGMENT AGAINST THE MAKER WITHOUT PREVIOUS NOTICE TO MAKER AND MAY HAVE AN IMPACT UPON THE CREDIT HISTORY OF THE MAKER, THE LIEN OF THIS JUDGMENT IS SUBORDINATE AND INFERIOR TO A MORTGAGE FROM PAYOR TO V ASILIKI MALLIOS OF EVEN DATE HEREWITH. The failure of Payee to declare this Note due and payable on the Maturity Date shall not constitute a waiver of any of Payee's remedies, and the same shall be available to Payee until such time as this Note is satisfied, '.. ". j' ,',j" J,' '~'~~, The words "Payee" and "Maker" whenever occurring herein shall be deemed and construed to include the respective heirs, successors or assigns of Payee and Maker, and the term "Maker" shall be deemed and construed to include the singular, as well as the plural, and the masculine, feminine and neuter gender, or vice versa. This instrument shall be construed according to and governed by the laws of the Commonwealth of Peilllsylvania, IN WITNESS WHEREOF, Maker has duly executed this Note this 5th day of December, 2000. WITNESS: MAKER: ~~~~~ Rodney p, Myers ------- ~.~\~ ~ ~~\~) Synthia I.Myers MAKERS ADDRESS: 738 Sandbank Road Mount Holly Springs, P A 17065 , . . .~~ '.- , - "'''' ,~ '. '''.' EXPLANATION OF RIGHTS A I clearly and specifically understand that by signing the foregoing Promissory Iudgment Note dated even date herewith in the amount of $6,000.00 (the "Note"), payable to Carl Richard Gelbaugh and Kristine Gelbaugh, husband and wife (hereinafter the "Holder") which contains a confession of judgment clause: 1. I will authorize the Holder to enter a judgment against me in Holder's favor which will give the Holder a lien upon any real estate which I may own, including my home, 2, I will give up the right to any notice of opportunity to be heard prior to the , entry of this judgment on the records of the court. 3, I will agree that the Holder can enter this judgment without any proof of nonpayment or other default on my part. 4. I will subject all of my property, both personal property and real estate, to execution (and sheriffs sale) pursuant to this judgment prior to proof of nonpayment or other default on my part. 5, I will be unable to challenge this judgment, should the Holder enter it, except by a proceeding to open or strike the judgment; and such a proceeding will result in attorneys' fees and costs which I will have to pay, 6, I know and understand that it is the confession of judgment clause in the Note which gives the Holder the rights enumerated above, B, IF I DO NOT SIGN A NOTE WHICH CONTAINS A CONFESSION OF JUDGMENT CLAUSE, I UNDERSTAND THAT I WOULD HAVE THE FOLLOWING: L The right to have notice and an opportunity to be heard prior to judgment. 2, The right to have the burden of proving default rests upon the Holder before , my property can be exposed to execution, 3, The right to avoid the additional expense of attorneys' fees and costs incident to opening or striking off a confessed judgment. C. I fully and completely understand these rights which I have received prior to signing the Note and am clearly aware that these rights will be given up, waived, relinquished and abandoned if I sign the N<;>te. Nevertheless, I freely and voluntarily choose to sign the Note, my intention being tB-;j{;j~;~{;"l;;:;;';_ ,.- " -~". to give up, waive, relinquish and abandon my known rights (as described in Paragraph B above) and subject myself to the circumstances described immediately above. D, I hereby certify that I, a signatory to the Note, which has a confession of judgment clause, have earnings of $10,000.00 or more per year, WITNESS: I HAVE READ THIS ENTIRE FORM AND FULLY UNDERSTAND ITS CONTENTS R~~yerS ~ ~~~. :-1~~~\~ \ \\y~0 Synthia J. Myers ~~il'..tJLii~."_'l'Wi:,:m5!;ti'W!~;I~~Wi!I_~ilr;i'llifl~;\!ijJir":-'f~""i;'l;j[,1llb&,fJ.Jt~-;;I;j'ili\liJj;iO~i!~t_~""='"""'''''~'''-. .._~ ~li!ll!rilWill:'~ ~~ "'...,= ~ ~ . 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