HomeMy WebLinkAbout99-00449
$244,059.66
$ 7,414.68
$ 333.69
$ 85.82
$ 25.00
$ 1,150.00
$253,068.85
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EQUITY ONE, INCORPORATED
523 Fellowship ROAd
Mount LAurel, NJ 08054
MORTGAGE NOTE
$ 245.000.00
Februarv 24. 1998
Date
FOR VALUE RECEIVED, the Undersigned, THOMAS L. BIEMESDERFER alkla
THOMAS BRUNO , whose address is 205 PARKER STREET. CARLISLE. PA
17013 ("Maker" or "Obligor"), promises to pay to EQUITY ONE,
INCORPORATED, ("Lender"), the principal sum of (US $) 245.000.00
together with interest on the unpaid principal balance at the rate set
forth below (the "Obligation").
To be repai~ as follows:
This obligation shall be repayable in 119consecutive equal monthly
installments of principal and interest and a final installment of all then
due principal, interest and fees thereon. The first scheduled monthly
payment shall be due MARCH 24. 1998 , and continue to be due and
payable on the 24TH day of each month thereafter until FEBRUARY 24.
2008 , (the "Maturity Date") at which time the final installment of
all then due principal, interest and fees thereon shall. be due and payable.
The Applicable Rate of Interest is
9.990
% per annum.
My monthly payments will be in the amount of U.S.$ 2.224.59
Interest at the interest rate provided herein shall continue to accrue
and be paid and continue to be paid even after default, maturity, accelera-
tion, recovery of judgment, bankruptcy or insolvency proceedings of any
kind or the happening of any event or occurrence, similar or dissimilar.
All payments due under this Note shall be made at 523 Fellowship Road,
Suite 220, Mount Laurel, NJ 08054.
This Note may be prepaid at any time in whole or in part, without
penalty, but all prepayments shall be applied to any installments of t
principal then outstanding in the inverse order of their maturity..
If at any time the Undersigned shall fail to pay any installment of
principal'or interest in full hereunder for a period of 10 days after such
payment shall be due, the Undersigned promises to pay, to the extent
permitted by law, a delinquency charge of 5% to each such installment or
part thereof.
The term "Collateral" means the following property in which a security
interest is hereby granted to Lender:
1. A
located in
valid first mortgage lien on real estate and 'improvements
BOROUGH OF CARLISLE. CUMBERLAND COUNTY. PENNSYLVANIA
described in more detail in the mortgage of
this same date.
2. A valid assignment of leases to Lender on real estate and improve-
ments located at 205 PARKER STREET. CARLISLE. PA 17013
described in more detail in the Assignment of
Leases of this same date.
3. General Intangibles, cash and non-cash proceeds, including,
without limitation, the proceeds of any insurance therein/and accessions
thereto, and any additions or substitutions hereafter pledged to Lender;
and any real, personal or intangible property of any nature in which Lender
may otherwise have then granted a security interest or acquired lien; and
other property .of any of the Undersigned now or hereafter in the possession
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of, assigned to hypothecated to Lender for any purpose, including All
dividends and other rights in connection with any shares of capitAl stock
pledged to Lender. The security interest in, and lien upon the CollaterAl
shall secure the repayment of this Note and interest thereon And Any
renewals, extensions and modifications thereof and all other future and
existing obligations of the Undersigned, or any of them, to the Lender of
any nature whatsoever however arising, whether Bale, joint, and several,
primary, secondary, direct, indirect, absolute, contingent, due or to
become due including those of the Undersigned, or any of them acquired by
Lender (hereinafter "Liabilities"). If any Liabilities are in existence
when this Note is paid, Lender may retain the Collateral and shall retain
any rights and remedies, granted herein with respect to the Collateral,
even if this Note is surrendered. Lender is granted a lien on and security
interest in any amounts which may be owing from time to time by Lender to
the Undersigned, or any of them, in any capacity as security for repayment
of the Liabilities. This security interest shall be independent of Any
right of setoff which Lender may hAve. The Undersigned assumes full
responsibility for preservation of the Collateral, including the preserva-
tion of any right of Undersigned or Lender in it against any and all third
parties. If Lender is in possession of the Collateral it has no responsi-
bility with respect thereto except the exercise of reasonable CAre, but no
omission to comply with any request of the Undersigned shall of itself be
deemed a failure to exercise reasonable care.
Lender shall have, without limitation, the following righta, each of
which may be exercised at any time: (i) to pledge or transfer this Note
together with any of Lender's interest in any of the Collateral, and any or
all' renewals, extension or modifications (upon transfer of any of Lender's
interest in any of the collateral, Lender shall be relieved of all respon-
sibility with respect thereto); (ii) to transfer any of the Lender's
interest in any of the Collateral into its name or a nominee's name; (iii)
to vote the Collateral after default hereunder; (iv) to notify the Obligors
of any Collateral to make payment to Lender of any amounts due thereon; and
(v) to take control of any proceeds of the Collateral.
A carbon, photographic, other reproduction of this Note or any
financing statement relating hereto, shall be sufficient as financing
statement and may be filed in any office in lieu thereof. The Undersigned
appoint Lender as attorney-in-fact for the Undersigned (without requiring
Lender to act as such) to execute any financing statements in the name(s)
of the Undersigned.
The occurrence of any of the following shall be a default hereunder:
(a) the nonpayment 10 days after the date due of any among(s) payable on
any of the Liabilities; (b) failure of the Undersigned to perform any
agreement hereunder; (c) the death of both of the Undersigned hereof; (d)
the filing of any petition under any bankruptcy or insolvency laws, state
or federal, by or against any Obligor; (e) an application for the appoint-
ment of a custodian, receiver, trustee, sequestrator, liquidator, conserva-
tor, or other judicial officer similar or dissimilar, or the insolvency or
the making of any assignment for the benefit of creditors by any Obligor;
(f) any Obligor's failure to pay any of its debts as any become due; (g)
any Obligor's failure to pay, withhold collect or remi~ any tax or tax
deficiency when assessed or due; (h) the entry of any Judgment against Any
Obligor; (i) the issuance of any attachment or garnishment or the attaching
of any lien against any property of any Obligor; (j) the seizure, condemna-
tion or forfeiture of a substantial part of any Obligor's property at the
instance of any government or governmental agency or instrumentality,
local, state or federal; (k) the dissolution, merger, consolidation,
reorganization or sale of substantially all of the assets of any Obligor;
(1) the commencement' of proceedings for the diSSOlution, merger, consolida-
tion, reorganization, or sale of substantially all of the assets of any
Obligor; (m) the Lender's determination that any Obligor's credit has
become impaired or that the Lender is reasonably insecure; (n) the assign-
ment by the Undersigned of any interest in any, or the existence of any
lien or security interest of the Collateral, other than Lender's; (0) the
providing to Lender by any Obligor of any statements, representation, or
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certificates, in connection with any of the Liabilities which are fAlse,
incomplete, incorrect or insffective. No waiver by Lender of any default
ShAll be effective unless given in writing by an authorizod officer, nor
ShAll euch waiver be a waiver of any other defAult or any future defAults.
Upon the occurrence of a default: (i) all Liabilities shall, at the
option of the hOlder of this Note, be immediately due and payable without
notice or demand on any Obligor and without requiring any rscourse against
any person or property liable for or securing any of the Liabilities; (ii)
Lender shall have the immediate right of setoff against the Liabilities of
any indebtedness owed by Lender to each Obligor, whether or not due, and
Lender shall be deemed to have exercised such right and charged each
Obligor's indebtedness immediately upon the occurrence of such default even
if Lender does not enter such charge on its books immediately; (iii) all of
Lender's rights and remedies hereunder, under any other documents now or
hereafter executed, or under any laws shall be cumulative and may deem
appropriate; (iv) Lender may exercise all rights and remedies available to
it as a secured party under the laws of Pennsylvania or otherwise Available
to it, inClUding, without limitation, the right to dispose of the COllAter-
al under the Pennsylvania Uniform Commercial Code. Each Obligor shall be
liable for any deficiency on any of the Liabilities remaining after
disposition of the Collateral.
Time is of the essence.
The Obligors waive presentment, demand, notice of dishonor, protest
and notice of protest. The liability of the Obligors shall be Uncondition_
a~ and absolute without regard to the liability of any other party, and
shall not be affected by additions to, exchanges of or substitutions for
the Collateral nor any indulgence granted or consented to by Lender,
inClUding, without limitation, and release of any party or release of any
COllateral, extension of time, renewal, waiver or other mOdification. Any
failure of Lender to exercise the same right at any time and from time to
time thereafter.
The Obligors waive and release their rights under any and all ap-
praisement, stay or exemption laws, eXisting now or hereafter and agree
that Pennsylvania law shall govern any issue arising hereunder. The
Undersigned intend this to be a sealed instrument and to be legally bound
hereby.
I
The Obligors each irrevocably consent to the exclusive jurisdiction of
the Courts of common Pleas in the Commonwealth of Pennsylvania or a United
States District Court in Pennsylvania in any and all actions and proceed-
ings, whether arising hereunder or under any other agreement or undertaking
and irrecoverably agree to Service of Process by certified mail, return
receipt requested, within or without the Commonwealth of Pennsylvania, and
that such service Upon any of the Obligors shall constitute service Upon
all of them, each, hereby appOinting the other(s) their attorney-in-fact
for the purpose of service. The Obligors further agree not to make any
objection in any such action(s) or proceedings that the venue is improper
or the forum is inconvenient.
THE OBLIGORS, AS AN INDEPENDENT COVENANT IRREVOCABLY WAIVE JURY TRIAL
AND THE RIGHT HERETO IN ANY AND ALL DISPUTES BETWEEN ANY OBLIGOR AND
LENDER, WHETHER HEREUNDER OR UNDER ANY OTHER AGREEMENTS, INSTRUMENTS, OR
DOCUMENTS HERETOFORE OR BEREAFTER EXECUTED, WHETHER SIMILAR OR DISSIMILAR.
Obligors each hereby agree to pay all costs of collection incurred by
Lender, including w~thout limitation, attorney's fees.
So long as any Liabilities remain unpaid, Obligors agree to maintain
adequate books, accounts and records, in accordance with generally accepted
accounting prinCiples consistently applied, and make such books and records
available for a representative of Lender, and furnish Lender any and all
information regarding its business affairs and financial condition within a
reasonable time after written request therefor, which may inClUde, without
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EQUITY ONE, INCORPORATED
523 Fellowship Road
Mount Laurel, NJ 08054
'98 FEll 2ii Pf'112 31
MORTGAGE
This Mortgage is made and dated FEBRUARY 24. 1998
between THOMAS L. BIEMESDERFER alkla THOfmS BRUNO
"Borrowers"), whose address is 205 PARKER STREET. CARLISLE. PA
and Equity One, Incorporated, which is organized under the lAWS
PennsylvAnia and whose addrass is 5010 Ritter Road, Suite 117,
Mechanicsburg, PA 17055, ("Lender").
"We" and "us" are the above borrower or borrowers who have signed this
Mortgage. Lender includes all lenders undsr this Mortgage including ths
original lender and anyone to whom this Mortgage is transferred.
This Mortgage is to secure the repayment of the borrowed sum,. interest
and other charges under a Mortgage Note to Lender dated the same date as
thie Mortgage in the amount of TWO HUNDRED FORTY-FIVE THOUSAND AND NO/100
Dollars ($ 245.000.00 ) (the "Note") and any
renewal, extension or modification thersof and to secure repayment of any
future loans or any future advances made (1) under the Note, (2) mAde under
any other agreement(s) or note(s), (3) without an agreement or note, and
(4) all other sums we owe to Lender.
We mortgage to Lender our property described below (the "Property"):
(A) All of the land and improvements located in CUMBERLAND
County, Commonwealth of Pennsylvania, with an address of 205 PARKER STREET
CARLISLE. PA 17013 , more fully described
in Exhibit "A" attached hereto, (the II Property II ) .
(B) Including all buildings, streets, alleys, easements, passageways,
water, watercourses, accessory objects, and other improvements that now are
or will be located on the land.
(C) Including all fixtures and all machinery, equipment, vehicles,
chattels, goods and other articles of property whether real estate or not,
now or at any time hereafter attached to or eituated in or upon and used or
useful in the use and operation of the Property and improvements now or
hereafter located by thereon.
(D) Including all other ri.ghts which we now have or will acquire in
connection with the land.
1. When we pay all amounts due under the Note and this Mortgage,
including late fines and Lender's expenses of collection, Lender's rights
under this Mortgage shall cease.
2. (a) This Mortgage shall act as a security agreement under the
Pennsylvania Uniform Commercial Code to assure repayment of all sums due
under the Note. This means it shall give Lender a security interest ip the
Property and all property located on the mortgaged premises (except
property of tenants). A carbon, photographic or other copy of this
Mortgage may be filed as a financing statement in any public office. This
Mortgage shall act as a financing statement if Lender decides to use it as
a financing statement. A carbon, photographic or other copy of a financing
statement relating to this Mortgage may be filed as a financing statement
in any public office.
(b) Lender may demand that we, within 15 days after the demand,
execute and deliver to Lender a security agreement and financing statements
and continuation statements that are in a form and contain substance that
is satisfactory to Lender covering all of our title, legal interests and
rights in and rights to all the Property. The costs of preparing any
security agreements, financing statements, or continuation statements shall
be paid by us. If we do not pay the costs they shall be added to the
unpaid principal balance of the Note and we shall pay Lender interest on
these additional sums at the rate of the Note.
3. We promise to Lender:
(a) We shall comply with all of the terms of the Note and the
Mortgage.
(b) We shall pay the principal and interest under the Note when
due, including interest after default at the rate provided for in the Note.
This shall be called the default rate.
(c) We own the Property free and clear of all claims to it except
as disclosed and have the right to mortgage the Property to Lender. We
shall defend this ownership against all claims.
(d) When due we shall pay all real estate taxes, assessments,
water and sewer charges, and other charges against the Property, and if
, by And
, (the
17013
of
Bod433 PAd093
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thore is a mortgage permitted Ahead of thie mortgAge under ParagrAph 3(c),
We shall make all payments due under the mortgage.
(e) We shall not claim, nor will We be entitled to Any credit
against tho sums due undor the Note and Mortgage for taxes paid on the
Property.
(f) We shall maintain fire and casualty insurance on the
Property. This insurance must cover loss or damAge caused by fire and
other hazards normally included under "extended Coverage" insurance. It
must also include such other hazard Coverage as Lender may reasonably
require. If the property is in a flood hazard Zone on a map of the U.S.
Department of Housing and Urban Development, We shall maintain flood
insurance. The insurance company, amounts of coverage and forms and
contents of all policies must be acceptable to Lender. To the extent
available, Lender may require that the amount of coverage be the greAter of
(1) the principal of the Note, or (2) the current replacement value of the
buildings and improvements. The coverage must be furnished by one insur-
ance company. There shall be sufficient insurance so that coinsurance
provisions of any POlicies will not become sffective. We shall pay all
premiums when due. We shall deliver the original policies and all renewals
to Lender if required by Lender.
If Lender requires, we shall obtain insurance covering losses
resulting from any reduction in, or cessation of rents or other payments
paid by tenants should Lender in its sole discretion require it. The
insurance shall also cover losses resulting from the failure of tenants to
perform any other duties or obligations under leases resulting from fire or
other casualty which can be insured against. The policy shall be an all-
risk fire insurance policy with extended coverage endorsement. All
p~icies of this type must be with companies, and in forms and amounts
which are satisfactory to Lender. The insurance must be payable to Lender
or as Lender's interest may appear. We shall deliver to Lender the
original policy and any renewals and evidence that the premiums have been
paid. If we fail, for any reason, to obtain this rent insurance, Lender
may obtain it and Lender may add the cost of obtaining it to the principal
balance we owe to Lender under the Note and that amount shall be secured by
this Mortgage and will earn interest at the rate in the Note. Lender may
collect and receive any and all sums that may become payable under any rent
POlicies.
All insurance policies shall state that the insurance company
cannot cancel, amend, reduce or refuse to renew the policy without at least
30 days written notice to Lender. The policy shall include a "standard
mortgage clause" naming Lender as loss payee. In case of loss or damage,
we shall promptly notify the insurance company and Lender, and all insur-
ance proceeds shall be paid to Lender. We shall promptly (1) file a proof
of loss with the insurance company, and (2) settle the claim. If not,
Lender may do so. Lender may use the insurance proceeds received to (1)
repair and restore the Property, or (2) reduce the sums owed. Lender shall
pay to us any money left after paying the entire principal and interest,
late charges and costs of collection.
(g) We shall keep the Property in good repair. We shall not
damage, destroy or abandon the Property. Lender amy inspect the Property
on reasonable notice to Us. We shall make repairs as may reasonably, be
required by Lender.
(h) We shall not do any of the fOllOWing to the Property without
the written consent of Lender.
(1) Remove, demolish, or materially alter any buildings or
improvements.
(2) Remove any fixtures, apparatus, machinery or equipment.
(3) Grant a security interest in any fixtures, apparatus,
machinery or equipment. If any fixture is destroyed or removed, we shall
replace it with another of at least equal quality and condition.
(i) We assign to Lender any payment received for the condemnation
of the Property by a governmental body or a public utility. Lender may use
the payment to reduce the Sums owed even if they are not due. Lender shall
pay to us any money left after paying the entire unpaid principal, accrued
interest, late charges and costs.
(j) Lender may require us to sign a statement of the amounts .
owing under the Note and this Mortgage. We shall sign the statement with~n
10 days after Lender's written request. We shall disclose in the statement
all things that may reduce the amounts owed. We shall prepare the state-
ment at no cost to Lender.
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(k) We shall not allow without Lender's conssnt, any mortgage,
lien or claim against the Property except this mortgage. We recognize thAt
any financing placed against the Property other thAn the lien and encum-
brance of this Mortgage and the sscurity interest created hereby (1) may
divert funds which otherwise would be used to pay the obligation secured
thereby; (2) could result in an acceleration and forecloeure of Any holders
of euch financing which would force Lender to take measures and incur
expenses to protect its security; (3) would detract from the value of the
Property and the business conducted therein should Lender come into
possession thereof with the intention of selling it; and (4) would impair
Lender's right to accept a deed in lieu of foreclosure, as a foreclosure by
Lender would be necessary to clear the title to the premises and the
business conducted thereon.
(1) We shall not accept rent from any tenant of the property for
more than one month in advance.
(m) We shall obey all laws, rules and ordinances which Apply to
the Property. We shall not use or allow the Property to be used for any
illegal purpose.
4. If Lender requires, we shall make monthly payments of 1/12 of the
yearly real estate taxes and 1/12 of the yearly hazard insurance premiums
to Lender.
These payments shall be held in escrow by Lender or its agent or
assigns. They shall be used by Lender to pay the tAxes and the insurancs
premiums when due. Lender may adjust these amounts from time to time to
reflect changes in the taxes and insurance premiums.
5. Lender may pay any of the following expenses of the Property when
due if we do not: (a) real estate taxes, assessments, water charges and
sewer charges; (b) insurance premiums; (c) repairs and maintenance; (d)
payments of claims against the Property if necessary to protect Lender's
rights under this Mortgage; and (e) any other charges against the Property.
All payments made by Lender shall be added to the sums owed. We shall
repay these amounts to Lender on demand. Interest shall bs charged on
these amounts at the rate in the Note from time of payment by Lender, or at
the default rate in this Mortgage if Lender has declared the unpaid sums
owed and interest immediately due and payable.
6. Lender may declare the unpaid sums owed and interest under the
Note and this Mortgage immediately due and payable for the following
reasons:
(a) Our failure to make any payment of principal and interest
under the Note within 10 days of the due date.
(b) Our failure to keep any other promise in this Mortgage, the
Note or Assignment of Rents and Leases, within 30 days after notice thereof
to us.
(c) Any other default under the Note.
(d) Any change in the ownership of all or any part of the
Property. The change of ownership of a majority of our shares of voting
stock, if we are a corporation, is a change of ownership. An installment
sale of the Property is a change in ownership.
(e) The starting of foreclosure or execution proceedings by the
holder of any other mortgage or lien on the Property.
(f) The starting of bankruptcy, receivership or inSOlvency
proceedings by or against us.
(g) The condemnation of the Property or any part of the Property
by a government, governmental agency or authority, or by a public utility.
If Lender declares the sums due under this Mortgage immediately
due and payable, all amounts due under the Note may be declared immediately
due and payable by Lender.
7. Lender's failure to declare all sums immediately due and payable
for any cause shall not prevent Lender from doing so at a later date for
the same or a different cause.
8. If any law'is passed after today (a) imposing a tax on this
Mortgage or the Note, or (b) taxing the payments under this Mortgage, or
(c) if any government should require document stamps on the Mortgage or
Note, the entire sums owed and interest balance due under the Note shall be
paid immediately, if Lender so decides. However, if we may lawfully pay
for such stamps and do actually pay them and any interest and penalties,
this Mortgage and the Note shall not be immediately due and payable.
9. If Lender declares all sums immediately due and payable, Lender
has rights given by law which include, but are not limited to, the follow-
ing rights;
-3-eOOI1433 rid095
(a) To enter and take posseesion of the Property in A lAWful WaYI
(b) To ask a court to appoint a receiver of rente or of the
Property. We ShAll consent to the appointment of receiver I
(c) To start a court Action for foreclosure. The Property may bs
sold in one or severAl parcels. Lender may sue any tenant or the Property
in the foreclosure action;
(d) The sale of the Property on foreclosure may not bring in
enough money to pay the entire amount due under the Note and MortgAge.
Lender may then sue us or any guarantors or sureties under the Note for the
difference. Lender retains any rights given by law to sue under ths Note
before foreclosing under the Mortgage.
Cel To take possession of the Property and lease or manage it as
if Lender were the owner of the Property. Leases may be on whatever terms
and for whatever periods of time as Lender decides is proper. The terms of
the leases shall be enforceable against us even after Lender's rights under
this Mortgage cease.
(f) Lender may collect all rents due from leaBes of the Property.
10. As additional collateral for the payment of all amounts due under
the Notes and this Mortgage, we hereby grant, sell, assign, trAnsfer And
satover unto Lender all our right, title and interest in and to all leases
of and rents derived from the Property, together with the right of Lender
to amend, modify, terminate, extend or renew any such lease or to waive any
such rent or the term of any such lease. This assignment is present,
absolute and unconditional and, immediately upon the execution hereof,
gives Lender the right to collect the rents and to apply them in payment of
all sums payable under the Note and this Mortgage; provided, however, that
we shall have the license to collect the rents as they become due for our
ace bunt so long as there is not event of default under this Mortgage.
11. We represent and warrant to Lender that:
(a) Neither we nor any affiliate of us is in violation of any
applicable environmental law, statute, rule, regulation or ordinance (the
"Environmental Laws");
(b) Neither we nor any affiliate of us or agent or independent
contractor of us regarding the Property has arranged, by contract, agree-
ment, or otherwise, (1) for the disposal or treatment of, or (2) with a
transporter for the transport for disposal or treatment of, any "Hazardous
Substance II as defined by the Comprehensive Environmental Response, Compen-
sation and Liability Act of 1980, as amended ("CERCLA"), owner, used or
possessed by us, identified by the EPA on the National Priorities List, 40
C.F.R. part 300, at any location.
(c) No predecessor (as defined in CERCLA) has arranged by I
contract, agreement or otherwise with respect to the Property (1) for the
disposal or treatment of, or (2) with a transporter for transport' for the
disposal or treatment of, any Hazardous Substance owned, used or possessed
by a predecessor at any location owned or used by us.
(d) Neither we nor any affiliate of us "owner" or "operated" any
.tIfacility" at the time any Hazardous Substance were disposed or within the
meaning of CERCLA.
12. We shall comply with all Environmental Laws and to the extent
necessary for the conduct of our business, shall obtain, maintain, and
comply with all permits, licenses, registrations and authorizations
required under the Environmental Laws. We shall comply with all governmen-
tal orders, judgments, awards, settlement agreements, or other consent
agreements entered into with any aw~inistrative or governmental entity
concerning compliance with the Environmental Laws.
We shall not use or permit the use of the Property for the generation,
storage, recycling, processing, transportation, disposal of or release of
any Hazardous Substance. We shall not use or permit the use of the
Property in a manner which would be in violation of any Environmental Laws.
We shall defend, indemnify and save Lender harmless from and against
any and all loss, damages and costs, including reasonable attorneys' fees
and expenses which Lender may hereafter Buffer or incur by reason of any
liability arising out of Environmental Laws, claims, or proceedings due to
our activities or any other person or entity during our ownership of the
Property. This indemnification shall extend to any liability Lender may
suffer or incur in connection with any toxic waste clean-up ordered by any
governmental agency or court. This indemnity shall survive any event of
foreclosure under this Mortgage or conveyance of the Property in lieu of
foreclosure.
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eood4331ACd096
13. If interest under this Mortgage or under the Note should ever be
in an amount that would violate any applicable laws against usury, then the
interest shall be calculated so that it is the maximum Allowed by lAW and
so that it does not violate such laws. If Lender has collected any amounts
of interest which would exceed such usury limit, then Lender shall apply
the excess collected to reduce the sums borrowed (principal) portion of the
amounts due under the Note.
14. All notices under this Mortgage must be in writing. They may be
given by (a) personal delivery, or (b) certified mail, return receipt
requested. Each pArty must accept the certified mail sent by the other.
Notice shall be addressed to the other party at the address written at the
beginning of this Mortgage. Either party may notify the other of a change
of address.
15. This Mortgage is binding on Lender and on us and on all parties
who laWfUlly SUcceed to the rights of or take the places of Lender and us.
16. Prompt performance of all promises under this Mortgage or the
Note is material. Failure to perform any promise under this Mortgage or
the Note immediately is a breech of this Mortgage.
17. So that Lender may obtain possession of the Property, in the
event that Lender has the right to declare all sums owed under this
Mortgage immediately due and payable, we authorize any attorney of any
court of record in the Commonwealth of Pennsylvania, to act as our attorney
and as attorney for anyone claiming an interest in the Property through us,
to sign an agreement to enter in any court which has juriSdiction, a
friendly ejectment action for POssession of the Property. We also autho-
rize any attorney to appear in any court which has jurisdiction in the
Commonwealth of Pennsylvania and confess jUdgment against us and anyone
claiming any rights to the Property through us. There shall be no stay of
execution. This Mortgage or a copy of it accompanied by an affidavit shall
be sufficient warrant, and a writ of poesession may be issued upon it
forthwith. If Lender should start to confess judgment and then stop, this
shall not prevent Lender from confessing judgment in the future for the
same reason or for a different reason.
18. We irrevocably consent that all lawsuits shall be filed by us
eXClUsively in the Common Pleas Courts of Pennsylvania or a United States
District Court in Pennsylvania. We agree not to object in any lawsuit to
the place of the suite. We agree that service of legal process may bs by
certified mail.
19. We, as a separate agreement, irrevocably waive the right to jury
trial.
20. If there are more than one of us, we shall each OWe the full
amount borrowed by each of us in connection with this Mortgage, and shall
be jointly and severally responsible for the sums owed. None of 'our
liabilities shall be reduced or released by any indUlgence, or extension of
time, or renewal, or waiver, or change agreed to or given to any of us.
All of us and all endorsers, sureties and guarantors agree to all exten-
sions of time, renewals, waivers and changes given to any of us.
21. This Mortgage is intended to be a sealed instrument.
22. We agree to this Mortgage by signing below. If We are a corpora-
tion, this Mortgage is signed by our proper corporate officers and our
corporate seal is affixed, and the corporation has the power and the
authority to enter into this Mortgage, and is in good standing in the
Commonwealth of Pennsylvania and in its state of incorporation. The
officer signing warrants that he is authorized to sign this Mortgage and is
authorized to mortgage the Property.
We have received a true copy of this Mortgage without charge.
WitneSS/Attest
Borrower:
",~/~
THOMAS L. EMESD ER
~~
(SEAL)
By:
a/k/a THOMAS BRUNO
(SEAL)
-5- BOOl1433iAd097
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3eltlement Statement
rransactlons without Sellers
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Namo & Adwell 01 Borrower. NIfTM!.~ .Addrell 01 Lender:
THOMAS L. BIEMESOERFER EQUITY O'E. IHC,
ZOS PAR'ER STREET '909 lOUISE ORIVE. SUITE 106
CARLISLE, PA 17013 HECtIAHICSBURG, PI. 17055
Property LocaUon: llf dillorofll trom above) 5eltlomtlm Agent:
ZOS PARKER STREET Cedar Clift AbUract Agency, Inc. 717.114.2145
CARLISLE, PA 17013 Pllc. 0'_ ~lUom8nt:
414 Bridge Street. New Currterland, PA 17070
Loan NumbOf': ~ttl!lm8m Oate:
February 24, 1998 Rescission Date:
L SottIIrnon'C_ . . , " .... M. O_IDOU*I .
800. Itoms PI)'IbIo ... Connoction wlh Loan ' , 1501. HARRIS SAYINGS BANK I~UU' '~~.l~
801, l.oan orlg~IUon loe "IOEOUITY ONE, IN q,:l~.j.1 .
802. Loan dISCount "I. 1502. ADVANTA NATIONAL , ,~DD.!~
803, Appralsallao 10
804, Credit repon to EQUITY ONE I IHC.,. ~, .0: 1503. FINANCIAL TRUST 5,057.76
805, In,pecllan lee 10
806, MOr1QlIg9 Insurance appliCation feo to . . 1504. CHASE !,/bb.~u
807, Mortgage broker fee 10
808. EOUITY,'ONE; INCORPORATED" FLOOD eERT 17.0 1505. AMERICAN EXPRESS 3,467.00
809, STONE lAFAVER & STONE DOC PREP 50.0 .. ...... ..... . .
810. ... .. . ......., . .. . ....... 1506. DISCOVER CARD 1,H2J.OU
811. '. . .
000. ltans fequhkf by Londo' to bo Paki b Advance 1507. HOME DEPOT !,UU2.uu
901.,,: Inl. from,:,,' .. . ";,." ., . ... .. . .
@S pardSy 1508. SEARS ",~~~.UU
902. ~ortgllg9 ,":'.8~I'St!C~ p~.m,~.~,lor:-.'. . -,:<rn~,l'I,t.n',Il). I'.'.'" ....;. ,'ii'. ,. .'. ......... .
l~~CU~B~,RlA.Np, C~~HTY, TAX .CLAIM ,9;7, !,755.15
903. H~,d, In,suran~e pa:emlum JOt,:, " ;'::o:'~ear(8) 10.. ,; . "..,... ~',:;:'" 'CO '& BORa ",',',', '; ,,,,, :
, ,~~~O~'OARl~HE, M~Y,ER~ T~ COtt ~6 CO & !'. D~3. 02
904. .. ,c. .. ."," ...,. .. 80ROTAXES. ..... . ....... ...
1000. Aoserwa DopoS!led wlh Lender ., .. .., 1511. DARLENE HOYER, TM Call 97-98 I.. J, ~bU. UD
1001. Hazatdbsurance mos.@$ permo. I.. .. SCHOOL
1002. Mortgage Insuranc8 . ,': ,'mos.@$',,;;," permo. '... .. 1512. ..
1003. Cltyprapertytaxes mos.@$ permo. .. .. ., ...
1004, Cntypropettytaxes: mos.'@$ , per mo. , ............ 1513.
1005. Annual assessments mos.@$ per mo. ., ". . ....... ...
',1006. ",....,..' .',mos.@s. , permo. .' , '. 1514,. ..
1007. mos.@$ permo. ,. ,;.. .. .....
. 1008", "mos. f.!Y$,':'-:;"-: ' ""permo. . .,. 1515.
1009. Aggregate AccountIng Escrow Adjustment ., ., .; ',...,..., ,..' .. .....
. 1100..'TlloC_ ,;.':,>f: ,". ..." ',15ro. 'Tm:~,DlSBURSED:: "i. 1~:lt,~~H'7~
1tOl. Settlemenl or croslng fee to STONE lAFAVER & STONE ~U.U '. (enteron line 1603) ..
. 1102, Abstmct ort~1o search 10 ';'<:_:';"::-" ... ... .. t
1103. Tille examination 10
1104; nJe lt1surance blrtder to ......... ...., ... .,. ....
1105. Document preparation 10
1106. Notary foos to " '",..,';, .',., . ..'.'
1107. Attorneys' loos 10 STONE lAFAVER & STOHE "t~",,09
(inCludes above 'liemntJmbGiS '., '..' ."..., ."". )
1108. Tille Insurance to CEDAR ClIFF ABSTRACT AGENCY, !He ...........~ ~61~.:.7:
. (lncludes'abow'~ern nuinbersloo> '300';"'8:'1':' )
1109. lendors coverage $ N. ... NET SETTlfMEHT . .. . .
1110. Owners coverage $ .. ..".,.. .. ........., }~,lO~~~?U,nl . .... ..... .... ~.~,UUU.UU
1111. . .
1112. . ... ... .... . .. 1601. Pus Cash/Chock !rom Borrower
1113. ,>., ..... .. .. .
1200. Govemnmt Aocon:lilg and Transb' Chargos ., ... 1602. Milus Total Settlement Charg,os , 6,541.05
1201. Recording lees: 29.5 .1"'.'4(0) . .
1202. C~y/county taxlstamps:'",.' ........ . 1603. Mi'lus Toml Disbursements to 229,848.79
1203. Slatetax/smmps: I (rlne1520) ..
1204, RECOROASSIGHMEHT OF lEASES .. 29.~l 1604, Equals Dlsbursoments 10 Borrower H,b!U.!b
1205. I (atlorexphtlon of any applicable
1300. AddllonalSotlDnoo. Cherges .. rescission period required by law)
13Ot. &lrveYIO
1302. Pest klspecllon to .. . . Borrower(s)Signatura(s):
1303, ArcMOCluraVengineerlng services 10 ~t124
1304. Building permit 10 ..
1305.
1306. , ......
1307.
1400.. TolAI SettbnOOt Charges (enter on li'tel602) ..' . 6 541'.0 X THOMAS l. 81EMESOERFER j/ '--
rerm nUlJ-I^ \:.:t::l4} rOr. Ht:~t"A f
OMII A,,,our No. no,..."
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:-:";':. i'.; :/, ~: ,:- GI.!:H
:: ~;<.:: :.' elF OEEOS
1.:..M;':.:i'..,\:,U COUNr~'~!'~
ASSIGNMENT OF LEASES
'98 FEU 2ti Pr112 31
THIS ASSIGNMENT, made this 24TH day of FEBRUARY
from THOMAS L. BIEMESDERFER a/k/a THOMAS BRUNO
, 1998,
, of
205 PARKER ST.. CARLISLE, PA 17013
, Pennsylvania (hereinafter
collectively referred to as "Assignor") to EQUITY ONE, INCORPORATED, a
banking association having its principal office located at 523
Fellowship Road, Mount Laurel, New Jersey 08054, ("Assignee").
!f~!!!,g~~,!L~!! :
WHEREAS, Assignor are the owners of certain real estate and the
improvements thereon ("Premises") known as: 205 PARKER STREET.
CARLISLE, PA 17013
, Pennsylvania, more particularly described
in the attached exhibit "A" and in that certain mortgage ("Mortgage")
of even date herewith to be recorded in the Office of the Recorder of
Deeds of CUMBERLAND
County, Pennsylvania, said Mortgage being by
and between Assignor as Mortgagor and Assignee as Mortgagee; and
WHEREAS, Assignor has executed and delivered to Assignee a
certain note ("Note") of even date herewith in the aggregate principal
amount of $245.000.00
evidencing the mortgage loan (" Loan" )
secured, inter alia, by the mortgage; and
WHEREAS, Assignor is desirous of assigning to Assignee, as
additional security for the Loan, all rentals and other monies d~e and
to become due to Assignor as Lessor and under any and all existing and
future leases or subleases ("Leases") of the Premises, any part
thereof or any improvements now existing or hereafter constructed
thereon.
-1-
BOOK 569 PAGE 860
"
NOW, THEREFORE, in order further to secure the payment of the
indebtedness owing to Assignee and in consideration of the making of
the Loan, and in further consideration of the Premises, and intending
to be legally bound, Assignor hereby covenants, promises and agrees as
follows:
1. Assignor hereby sells, assigns, transfers and sets over unto
Assignee, its successors and assigns, all of the rents, income re-
ceipts, revenues, issues and profits now due or which may hereafter
become due under the Leases or any extensions or renewals thereof, as
well as all monies due and to become due to Assignor under the Leases
for services, materials or installations supplied, whether or not the
same were supplied under the terms of the Leases, together with any
and all rights and remedies which Assignor may have against the
tenants under the Leases or others in possession of the Premises or
any part thereof for the collection or recovery of monies 50 assigned,
TO HAVE AND TO HOLD the same unto Assignee, its successors or assigns,
for the purposes herein recited.
2. Assignor hereby represents, warrants and agrees that:
(a) Assignor has the right, power and capacity to make this
Assignment and that no person, firm or corporation other than the
Assignor has any right, title or interest in or to monies due or to
become due under the Leases.
(b) Assignor will, at Assignor's cost and expense, perform
and discharge all of the obligations and undertakings of the landlord
under the Leases. Assignor will enforce or secure the performance of
-2-
BOOK 569 P^GE ~{)1
'.
each and every obligation and undertaking of the tenant under the
Leases and will appear in and prosecute or defend any action or
proceeding arising under or in any manner connected with the Leases or
the obligations and undertakings of the tenants thereunder.
(c) Assignor will not, without Assignee's prior written
consent, (i) pledge, transfer or mortgage or otherwise encumber or
assign future payments of rentals; (ii) waive, condone or in any
manner release or discharge any of the tenants under the Leases; (iii)
disaffirm, cancel, terminate or consent to any surrender of any of the
Leases; (iv) modify, extend or in any way alter the terms of any of
the Leases so as to reduce or diminish or postpone the payments of
rentals and other sums due thereunder; or (v) accept any payments of
rentals in advance, other than as required to be paid in advance by
the terms of any rental agreement.
(d) Any default by Assignor in the performance of any
obligation or undertaking hereunder shall constitute and be deemed to
be a default under the Note and the Mortgage so as to entitle Assignee
to exercise any and all of the rights and remedies thereunder, includ-
ing the right to declare all sums payable under the Note immediately
due and payable without notice or demand.
3. These presents shall not be deemed or construed to constitute
I
Assignee as a mortgagee in possession of the premises, nor to obligate
Assignee to take any action hereunder or to incur expenses or perform
or discharge any obligation, duty or liability hereunder or under the
Leases.
-3-
BOOK 569 rACE 862
4. Until the Loan shall have been paid in full, Assignor will,
for the purposes hereof, transfer and assign to Assignee any and all
further rentals and monies due or to become due Assignor under the
leases upon all or any part of the Premises; and Assignor will from
time to time execute and deliver unto Assignee upon demand any and all
writings that Assignee may deem necessary or desirable to carry out
the purpose and intent hereof, or to enable Assignee to enforce any
right or rights hereunder.
5. So long as there is no default under the Note, Mortgage or
any other instrument evidencing or securing the Loan, Assignor may
collect for its own account all rentals and other monies assigned
hereunder. From and after the occurrence of such a default (whether
or not Assignee shall have exercised its option to declare the Loan
immediately due and payable), all rentals and other monies assigned
hereunder shall be paid directly to Assignee; and Assignee may notify
the tenants under the Leases or any other parties in possession of the
Premises or any part thereof to pay all monies due and to become due
to Assignor directly to Assignee, for which this Assignment shall be
sufficient warrant. Monies so paid to Assignee shall be applied by
Assignee, at its uncontrolled discretion, to the payment of the costs
and expenses of the operation of the Premises and to the payment of
,
current interest and/or principal under the law, all in such ,order and
in such respective amounts as Assignee shall from time to time
determine.
-4-
BOOK 569 PACE 863
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