HomeMy WebLinkAbout99-01475
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COMMERCIAL GUARANTY
,\.l, . (n/'n';:
LOin Ollll
Mllurlly
Loin No
Account
.5800.3-,,-
artICuli' loan or de",.
.._-"~.._...-.. --.--.-.---.-
,tef".ncft In 'he 'hA~ I'" If. 'OIlend(W', VII ont
Borrower: StrH'OItd,'nc. (TIN: 2~112'''5'
tOl Hel.., lane
CorI/llo. PA 1701)
Lender: PENNSYLVANIA STATe BANK
Cemp Hill
214. MorIcol SlrOOl, P,O,lIol 117
Comp Hill. PA 17001-0117
GUlrlntor: John K, Rich ond Lindo M, RICh
10S HoI..r Llno
CorllIlO. PA 17013
- ~~~""""-._,.
AMOUNT OF OUARANTY. Thllll 0 gyl..nty 01 poymonl 01 100.000.. 0' 'ho Nole. /nCludlng wllhoull1mllOl.... 'Ile prine/poi Nolo omOllnl 01
Four Hundrtcl Twl'lty FI.e Thoullnd & 00/100 0011"111125.000.00).
GUARANTY. For goocl and .aluabl. conlld.rallon. John K, Rich and Lindo M, Rich ("Gulrlnlor", ablOluloty end uncondlllonllty gyM.nle.
and proml"'o"..,. ,olnlly Ind ....r..ty.lo PENNSYLVANIA STATE BANK ("lend..", or II. order. on dlm_,In 10gal 'o""e' 0' Ihe Unlled
SIo'el 0' Ame"cI. 100....% 0' Ihe Ind.bl.dn... la. Ihall.rm JI de'Jned be/OWl 0' Slr.elgard. 'nc, ("Borrower", '0 L.ndor on 'he '.rml .nd
condlllonl .., fOrlh Jn Ihll Guer.nty. Guer.nlor .gre.. Iha' L.nd.r, In III IOle dlocr.llon. m.y del.rmlno which porllon 01 Borrow.r',
Indebledneu 10 lender Is COvered by Guaranlo,', pereenlage guaranty.
DEFINITIONS. inti fo4lowmg wClld:. shall have Ihe rel/owing moanlngs when used ,n 'hIS Guaranly:
Borrower. The word "'Souawe,.- means Slreelgard, Inc..
Guaranlor. Tile WOld "Guaranlo" moan, John K. RICh and Linda M, RICh, who ar. Signing Ihls Guaranty ,..nlly Ind levell'Y.
Guar.nty. Tile WOld "Guaranty" moons IhlS Guaranty mad. by Guallnl.. 'OIlhe bnnofll 01 L.nd.r dal.d 12/10/97
Ind.bledne... The WOld "Indebl.dness" m.ans lhe Nol., InclUdIng (a) all prlneloal, (b) alllnl.resl. Ie) all lal. chlrges. ld) all loan loes and
loan charges, and (e) all colleclion cosls and .xp.nses r.lating 10 the Nol. 01 10 any collal.ral 101 the Nole, Collection cosls and exponses
lnelude WilhOullimilolion all 01 L.nder's allo...ys'loes and L.nder's legal.xpenses, wllelh.r 01 nol sull is inSlrlulod. .nd IlI00neyo' foes and Iagal
exponses 101 bankruplcy proceedings (ineluding ellOl1s 10 modlty 01 vacal. any aulomalle slay or Injunelron), .PPOlls. and any anflelpal.d
posl-judgmenl collection services.
lender. The word 1.ender" means PENNSYLVANIA STATE BANK, .ts successors Bnd assigns.
Nol.. Th. WOld "Nol.- moons Ihe promISsory nol. 01 credll agreem.nl dal.d 12/10/97 ,In 'h. original prIncipal omounl 01
$425,000,00 Irom Borrow.r 10 L.nd.r. log.lh.r wilh all r.nowals 01, ext.nslons of, modificalions 0', ,.financlngs of. consolidalions 0'. and
subslilulions for Ih. prOmissory nol. or agroem.nl. Nollce '0 GUlranlor: Th. Nol. ..Id.nc.s I r..OI.lng IIn. 01 credit 'rom L.nd.r '0
Borrower.
R.'aled Docum.nls. Th. words "R.laled Docum.nts. m.an and Includ. wilhoul limllalion all promissory noles, cr.dil agroem.nls. loan
agreem.nls, .nvironm.nlal sgroem.nls, guaranli.s. secU"ty agreem.nts. mongages, deeds of Irusl, and all olher Inslruments, agreements and
documents, whether now or hereafter exlsling, executed In conneclion with the Indebtedness.
MAXIMUM LIABILITY. Th. maximum IIsblllty 01 Gusr.nlor und.r Ihls Guarlnty shsll nol exceed sl.ny on. lime 100,000% 0' Ih. ","ounl 01 'h.
Ind.bleeln... d.scrlbed sbov.. plus .11 costs snd .xpon..s 01 (.) .nlorcem.nl 0' Ihls Gusranty .nd (b) collecllon Ind OIl. 0' Iny Coll.'.rsl
securing Ihl. Gusranty.
Th. above ilmilalion on liability Is nol a reslriction on Ih. amounl ollhe Ind.bl.dn.ss 0' Borrow.r 10 L.nd.r .lIh.r In IIle aggregal. or al any on.lim.,
II Lend.r prossnlly holds on. or more guaranlies. or h.r.aft.r rec.lves addillonal guaranri.s from Guaranlor. Ih. rlghls 01 L.nd.r und.r all guaranlies
sh.1I b. cumul.liv., This Guaranty shall nollunl.ss speclncally providod b.low 10 Ihe conlrary) allecl or Invalidal. any such olh.r gueranll.s. Th.
liability 01 Gusranlor will b. Ih. eggregal. Ii.billly 0' Guarenlor und.r Ih. I.rms of Ihis Guaranty and any such Olh.r unl.rmin.l.d guaranlres,
NATURE OF GUARANTY. GoalSnlor Inlends 10 guaranloe 'I alllim.s Ih. p.rformanc. and prompl paym.nf when du., Wh.,h.r al m.'urity or ..rliar
by r..son of acc.'.ralion or olh.rwls., 0' .lIlnd.bl.dn.ss Wllhin fh.limlls s.1 'orlh in Ih. prec.ding seelion 0' IhlS Gu.ranly. Thla Gusr.nty co..rs a
re.olvlng IIn. 01 cr.dlt Ind guaranlor und.rslands .nd agr..s Ih.llhl. guar.nle. shall be opon end conllnuou. unlll Ih. line 01 credit I.
I.rmlnll.d .nd 'h. Ind.bl.dn...ls p.,d In lUll, .s pro.lded below. The obligallons 01 Guaranlors shall b. jOlnl and ....ral, Lender may proceed
agalnsl any of Ihe Guc:anlors Individually, agalnsl any group 01 Guar.nlors, or againsl alllh. Guaranlors In on. aClion, wilhoul alleclrng Ihe rlghl 01
Lend.r 10 proceed againsl olh.r Guaranlors for .mounls Ihal are cov.r.d by Ihis Guaranty, Any Inability 01 Lend.r 10 prOC..d agalnsl .ny Guaranlor
(wh.lher caus.d by aclions of a Guaranlor or 0' L.nd.r) will nol allect L.nd.r's rlghllo proc..d againsl .ny or all r.malning Guaranlors lor all or pan
0' the amounts Covered by this Guaranty.
DURATION OF GUARANTY. This Guaranty willlak. .lIeel wh.n rec.ived by L.nd.r wllhoullh. nec.sslly 0' any acceplanc. by Lend.r. or any nolic.
10 Guaranlor or 10 Borrower, and will conlinu. In 'ull lore. Until all Ind.bl.dn.ss shall have b..n 'ully and Irnally paid and sallsfi.d and all olh.r
obligalions 01 Guaranlor und.r Ihis Guaranly shall have been ponorm.d In 'ull, R.'eas. of any olh.r guaranfor or I.rminalion 01 any olher guaranty 01
Ih. Ind.bl.dn.ss shall nol alleellh. liability 0' Guaranlor und.r Ihls Guaranty, A revocalion rec.iv.d by L.nd.r 'rom any on. or more Guaranlors shall
nol alleel Ih. liability 0' any r.mainlng Guaranlors undar Ihls Guaranty. Thl. Guar.nty co.ers . r.vol.lng line 0' cr.dll .nd It I. 'poclllc.lly
anllclpal.d Ih.' lIuclu.llon. will occur In Ihe .ggr.g.,. .mounl of Ind.bl.dn... owing Irom Borrow.r 10 L.nder. Guar.nlor speclllc.lly
acJcnowleelg.. and .gr.e. 'h.llluclu.llons In Ih. .mounl of Ind.bl.dn..., ...n 10 z.ro doll.rs ($ 0.00), shall nol con.IIM. a '.rmln.llon 01
Ihl. Guar.nty. Guar.ntor..II.blllty under Ihl. Gu.ranty shalllermln.l. only upon I.) lermln.llon In Wrlllng by Borrow.r and Lend.r of Ih.lln.
01 credit. lb) p.ym.nl 01 'he Indebl.dn... In lull In leg.ll.nder. and (c) paymenlln lull In I.gallend.r 01 all olh.r obllg.llons 0' Gu.r.nlor
under this GUlIranty.
GUARANTOR'S AUTHORIZATION TO LENDER, Guaranlor authoriz.s Lender, wllhoul nollce or d.mand and Wlthoul lessening Gu.r.nlor's
liability und.r Ihfs Gu.ranty. 'rom 11m. 10 lime: (a) 10 molee on. or more .ddlllon.1 ..cur.d or un..cured loans 10 Borrow.r. 10 Ie...
.qufpm.nl or olh.r gOOdS 10 Borrow." or olh.rwl.. 10 .xlend addlllonal cr.dll 10 Borrow.r; lb) 10 .1I.r, comproml.., r.n.w, eXlend,
.cc.leral.. or Olh.rwf.. ch.ng. on. or more 11m.. Ih. lime for p.ym.nl or olh.r I.rm. 01 Ih. Ind.bl.dn... or any pari 01 Ih. Indebl.dness,
fncludlng Incr....s and d.cr..... 0' Ih. r.l. 0' Inleresl on Ihe Ind.bl.dness: .'Ienslon. m.y be rep.aled and may be lor long.r Ih.n Ihe
orlgfnal lo.n lerm; (c) 10 loIee .nd hold ..curlty 'or 'he p.ymenl 01 'hi. Guar.nty or Ih. Indebl.dne.., .nd .Xch.ng., enforce, w.lv..
.Ubordlnal., 1.11 or d.cld. nollo p.r'.cl, .nd relea.. .ny ,uch ..curlly, wllh or wllhoullhe sub.lllullon of new coll.'er.l: (dllo rele....
sUbsltMe, .gr.e nol 10 sue, or deal wllh .ny one or more 0' Borrower's surelles, endor..rs. or olher gU.ranlors on .ny lerms or In .ny
m.nn.r Lender m.y choo..; (e) 10 delermlne how. When and Wh., .ppllcallon 0' p.ymenls.nd .redlts Shall b. m.de on 'h. Indebledness:
LOin NO 5llOO31 1-99
COMMERCIAL GUARANTY
(Con\lnu~d)
Page 2
Cf) to eppfy IUt" NeurU)' and dlrKI'h, order or manne' of III' thereol, InttucUng wIf"oulllmllatlon. Iny nonludlClllaale permitted by Ihe
,.,ml or the controlling security agreement or deed or hUII,'S Lender In n. dlKftllon m.y determine; CO) to sell, Ir.ns'", IIstgn, Of Otlnl
perttelpe160nlln ell or any part 0' 'h. Indebtedn'lIi Ind (h) 10 nIJan 0, Ifan,'., thf. Gua,an'y In whole or In pett.
GUARANTOR'S REPRESENTATIONS AND WARRAHTIF.S. GUo1ranlOt 'ep'o~,\'~ Ind w,".nl:.1Q I (lnClftl' Ihll (0) no roprosontatlon" 01 'o'ooments
Of Iny kmd t\a~ bNtn mado to GUlf.nlOt whICh WOul" limIt 01 Quality In any wly the IftH'I\ of ltjr" GU'fanly, (hi thiS GUlranty IS executed 'I
801'10""''''' ,oqUfil .nd nol.t the 'OQuesl of Londor; (e) Guaranlo, has fUll POWUf, ugh! Ind .""hOfll,. 10 enler .nlo IhlS Guaranly; (d)lho prO'M,lons of
Ihll GUlr.nt,. do not conflct wllh 01' 'esutt In. df"aull undor any Aoroomont Of other li1strumonl tlmr1lng upon Guarantor and do nol 'MullIn. VIolation
01 .ny IIW, 'ltOul.t1on, court decIDe 0' Older applicablo 10 Guarllntor; (e) Guaranto, hi!! n(JI And ""'II! nOl, wllhouttho prior w'lllon consonl oJ lender,
"'I, Ion., IUlgn, encumbor, hypothecato, I,ans'o" 01 othorwl!oo dispose 01 all or 't1bfltllntl.lI)' III of (fUI,.nlor's assot.., or uny mlO'ost lholom, (I) upon
lendo,', 'OQUlnt, GUI,antor WIlt PfOVldo to londor finanCIal and crndll mlormatlon 'n I~I"', lI~'ct"p!,'bIO '0 londor, cnd cll ~uch 'manclal intOHn.al:on
wfllCt'I cunenrry hn Doon, and all futu'e flnanCtalmlolmatlon whiCh Will be prOVldod to londp, ~ ana "'Ill bo true and corroel an all malenal respecls and
fal,ly plnenl tho Ilnanclal conditIon of Guarantor as 01 tho aalos tho financial Inlormatlon IS provIded. fg) no mato'lal advs'S8 ch.nge has occurred In
GUlranlOf" '1llAnelll condlllon slnee the dale of thO most rocont fmanclal statomenls p/O'o'ldt'ld 10 lendo' and no ovenl has occurred whlth may
materllUy adversely affOCI GuarantOl"s rlnanelal COndition; (h) no hllgallon, claim, 1""05f'Olllon, adminIstrative proceeding or Similar achon (,"cludlng
thOM tor unpaId 'a..eslags,"sl Guarantor IS pondmg or IhrcaTenod; II) LondOf has l'N00 no I.'prw...entallon 10 GUll/antI)( as to the c,edltworthmess or
Bonower; Ind (Jl Guarantor has eslabllshed adoQualo means 01 oblainlng from Bor,owl'I' on I conhnUlng baSIS Inrormallon regarding Bortower's
',nanclal condlllon Guaraltlor agreos 10 keep adeQualely IIl'ormod Irom such mOAns of any facl~, evonts. or Clrcumslances whICh mlQht in any way
affect GUI,lntor's ,,~ks undor Ihls Guaranty, and Guarantor lurthO' agroos lhallondor shall havo no ObligatIon 10 dlscloso 10 Guarantor any mlOfmatlon
01' documenlllCQullOd by lendor In the courso of Its rolahonshlp With Uonowor.
GUARANTOR'S WAIVERS. Excopl as prohlblled by appllcablo law, Guarantor watvO!lany II0t1110 roqUlre Londer (s) 10 continue lendIng money or to
ex1end other credl' to Borrower; (b) to make any prosontmont, protest, demand, 01' nohce 01 any ".Ind. including notlCO 01 any nonpayment ollhe
Indebtedness or 01 any nonpaymont related to any collateral, or notice 01 any action at nonactlon on the part 01 Borrower, Lender, any surely, endorser,
or other guaranlor an connechon wilh Ihe Indebtedness or 10 connection With tho croallon 01 now or addlllonatloans or obligations; (c) 10 resor1 fOf
p.ym&nt or to proceed dlreclly or al once against any person, IncludlMg Borrower Of any olhor guaranlot; (d) 10 procoed dlreclly againsl or exhaust any
con.aloral hold by londer from Borrower, any olher guaranlor, or any other perSOn; (0) 10 glvo nollco or tho lerms, limo, and place of any publiC or
private sale of personal p'operty security held by londer Irom Borrower or to compl,! WIth any olher apphcable prOVISIons of the Uniform Commercial
COde; (I) to pursue any other remody wllhln Londo,'s pOwor; or (g) to commit any act or omiSSion 0' any kmd. or al any lime, With rospeclto any
m.:attor whalsoever.
If now or hereaftor (a) Borrower shall be or become Insol'/enl, and (b) Ihe Indebtedness shall nol al all times unlil paId be fully secured by coUateral
pledgod by Borrower, Guarantor hereby lorever waives and relinqUishes in lavor 01 Lendor and Borrower, Bnd Ihelr respective successors, any claim or
flghl 10 paymenl GUl1ranlor may now have or hereatter have or acquire against Borrower, by subrogation or olherwise, so thai at no time shall
Guarantor be or become a "credllor" 01 Borrower wllhin the meanlOg 01 t1 U.S.C. secllon 547(b), or any successor prOVIsion 01 the Federal bankruptcy
laws,
Guarantor also waives any and all fights or delenses ariSing by reason of (a) any "one acllon" or "'anb-delIClency"" law or any other law which may
preventlendor Irom brlngmg any aclion. including a claim for deficiency, agamsl Guaranlor, before or alter lender's commencemenl or completion 01
any foreclosure action, eilher Judicially or by exercise 01 a power 01 sale; (b) any elecllon 01 remedies by Lender which destroys or otherwise adversely
affects Guarantor's subrogation rights or Guaranlor's righlS to proceed against Borrower lor reimbursement, including wlthoul hmllalion, any loss 01
flghls Guaranlor may suffer by reason 01 any law hmiting, qualifyIng, or dIscharging the Indebledness; (cl any dIsability or other defense of Borrower, 01
any other guarantor. or of any other person, or by reason 01 the cessation of Borrower's lIablllly flam any cause whatsoever. other Ihan payment in full
In legat tender, of Ihe Indebtedness; (d) any right 10 claim discharge of the Indebtedness on the baSIS 01 unJushfied impairment of any collateral lor the
Indebledness; (eJ any slalule ollimilations, If al any tIme any achon or SUit b,oughl by Lender ag.JIOst Guaranlor is commenced there is outstanding
Indebtedness 01 Borrower to lender which is not barred by any applicable statute olllmllatlons; or (I) any delenses given to guarantors al law or in
equity olher than actual paymenl and performance ollhe Indebledness. II paymenlls made by Borrower. whether voluntanly or olherwise, or by any
Ihlrd party, on the Indebtedness and lhereafter Lender IS lorced to remltlhe amounl ollhat paymenlto Borrower's lruslee In bankruptcy or to any
Similar person undp.r any federal or state bankruptcy law or law for the rellel of deblors. the lndebledness shall be considered unpaid lor tho purpose of
enforcement of this Guaranty.
Guarantor further waives and agrees nolto assert or claim at any time any deducllons to the amounl guaranteed under thiS Guaranty lor any claim of
seloH, counterclaim, counTer demand, recoupment or similar right, whether such claim, demand or right may be asserted by the Borrower, Ihe
Guarantor, or both.
GUARANTOR'S UNDERSTANDING WITH RESPECT TO WAIVEMS. Guaranlor warranls and agrees thai each 01 the waivers sellorlh above is made
with Guaranlor's full knowledge 01 its signilicance and consequences and that, under the circumstances, the waivers are reasonable and not contrary 10
public pOlicy or taw. If any such waiver is delermined 10 be contrary 10 any applicable law or publiC policy, such waiver shall be efleclive only to the
extent permilled by law or pUblic policy.
lENDER'S RIGHT OF SETOFF. In addition to aU liens upon and rights of setoff againsl the moneys, securitIes or 01 her properly of Guarantor gIVen to
lender by law, lender shall have, .....ilh respect to Guarantor's obligalions to Lender under thiS Guaranty and to the extent permitted by law, a
contractual secunty interest in and a flghl of seloH against, and Guarantor hereby assigns, conveys, delivers. pledges, and translers to Lender all of
Guarantor's right, hlle and mterest in and to, all deposits, moneys, securities and other properly 01 Guaranlor now or hereafler in the possession of or
on deposit wilh Lender, whether held in a general or special accounl or depOSit, whether held Joinlly With someone else, or whether held lor
salekeeping or otherwise, excluding however all IRA, Keogh, and lrust accounts. Every such security interest and right of setoll may be exercised
Without demand upon or nolice 10 Guarantor. No security intorest or fight of setoll shall be deemed 10 have been wBlved by any act or conduct on the
part 01 Lender or by any negleclto exercise such rig hI of setoff or 10 enlorce such security interesl or by any delay 10 so doing. Every right of seloff and
security interest shall continue in lull force and effect until such righl of seloff or security interesl IS speCifically waIved or released by an instrument in
writing executed by Lender.
SUBORDINATION OF BORROWER'S DEBTS TO GUARANTOR. Guarantor agrees that the Indebtedness of Borrower 10 lender, whether now
existing or herealler created, shall be prior to any claim lhat Guarantor may now have or hereafler acquire against Borrower, whether or not Borrower
becomes insolvent. Guarantor hereby expreSSly subordinates any clBlm Guaranlor may have against Borrower, upon any account whatsoever, to any
claim Ihat Lender may now or hereafter have against Borrower. In the event 01 insolvency and consequent liquidation of the a'isets of Borrower,
throuQh bankruptcy, by an assignment lor Ihe benefit of creditors, by volunlary liquidation, or otherwise, the assets 01 Borrower applicable to the
paymenl of Ihe claims 01 both Lender and Guaranlor shalt be paid to, Lender and shaH be tlrst applied by Lender 10 lhe tndebtedness 01 Borrower to
Lender. Guarantor does hereby assign to Lender all claims whIch It may have or acqUire agalnsl Borrower or agarnst any assignee or trustee in
bankruptcy of Borrower; provided however, thai such assign men I shall be efleclive only for the purpose of assuring 10 Lender lull payment in legal
tender 01 the Indebtedness. If lender so requests, any notes or credit agreemenls now or hereafter evidencing any debts or obligations of Borrower to
Guarantor shall be marked with a legend that the same are subject 10 this Guaranty and shalt be delivered to lendor. Guarantor agrees, and lender
hereby IS authorized, in Ihe name 01 Guarantor, Irom time 10 time to execute and lile financing slatemenls and contlnualion statements and to execute
"'.'Jch oltler documents and to take such other achons as Lender deems necessary or appropriate 10 perfecI, preserve and enforce its rights under Ihis
'.
12-10-1997
LQ.n No llVOO311-99
COMMERCIAL GUARANTY
(Conllnuodl
Pl90
GUII,",,-
MISCCLLANEOUS PROVISIONS. The fOllowIng m''\otDlj4MOIJ\ PlOvl\lon, "" p,rt r,f !h.. <I,I.'lnl.,.
Am.ndm,nll, Thl' GUlf,nty, loo.'hl)l ""ltl Iny UPIAlltd OOCumtl'ltt, COI'I\111U18'!he ttnlun unoolsla"d,ng and agrHmonl 0' tho PlrtlM 1\ 10 1
man." MI'Otln In th" Guaranty No ,llo,,',on 01 ()l amel'ldlTlfnt 10 Ih" GUII.nll" ,~.II t). eHOCllvO union g'ye" In wltllng Ind "onOd br' tho PI
01 p,r'~ 'oughl to bo Ch,rge" Of bound by tho ,!19'.ll'0" Of '""8l'ldmen!
AppIlC.bl. L.w. ThIS Guarlnly has boon OOllvOIl''' 10 LondOI Ind 'CC.p,." tly I tH1CHtl In lhe Commonwo.!lh 01 POnnsylvanla II trlftrs I~
14WfoUII, Gu.ranlOl IU'OO\ upon t nndor', fllQllno,l 10 submll 10 Ih,. /W"U1rl.of\ (It HI,. r::Olll!\ 01 ClImbOlllnd Counly. Commonwoalth
1',"\/I\,1vlnll ThiS lillllrllnly 'ilh~I'1 bn govll/nod r)~ ann conslfund '1lICCOIlJI"Ctt ",.111 l!illl.....!. or Ihn CornmonwOlllh of PonnSylvanla
A"~,"!)'S' F~~,; Expense,. GU.lI.;,nIOl "Yfttm. 10 Poly upon demlnlj aU ot lend"!", co~l, Jnd o.prtn~oS, including allornoY" f"S and Londfl
I.tgll ..ponsos, Incu"od In connocllon WI,h tho enforcomenl 0' Iht' Cluafanly l,,"df" "'Iy pay som(tono &Ise 10 help enlorce Ih,S Guarlnty, a
GUlflnlor ,hail pay Iho costs and e.pons.os 0' SUCh enlofcem.nt COltl Ind ..ponSIt' InCludo lender's ItlOtne)'" 'IfOS Ind kt;11 ..pens
w"elh.,. Of' not Ihefe I' · laWSUit, Includmg allorneys' f08' and legll '.p.n~, lOt Oln.tuplcy p'oceedlngs (Ind Including offol1s 10 mocMy
\iIC.t, Iny automltlc Slay or '"JuncIIOn), apPu<J!s. and any In!'C'PII'd pOII.Judgmonl CollOCl,on SOfVtCOS GuaranlOf also shan pay all cou.t co'
Ind SUCh Iddlllonll feos as may bo dlrecled by the Courl
Holle... All nollCes reqUIred 10 be given bv 9IIhttr party 10 Ihe olher und'f IhlS GU,"finly shall bo 1M Wfll"'Q, may be senl by t.'elacslmde (unlf:>
olherwlse reqUIred by law), and shall be effective when aClually dellver.d or when doposlled wllrt a nallonally recognized overmghl couner.
whon deposited In Ihe UMed Slatos mall, IlIst class poslaQe P/801Id. IddflsSCJd to frio pa,'y fa Whom Ihe nollco IS 10 be given allhe addre
shown above or 10 SUCh Olhor addresses as Olthor parly may deslgnll' 10 Ihe olhor In wflllng, II there IS morolhan one Guaranlor, notice 10 a
Guaranlor will conslllulo nollce 10 all Guaranlor!> For nolice purpot.eS, Guaranlor IglOOS to keep lender Inlormed al all t.mes 01 Guarsnlo
CU""I"'I add,oss,
Inlerpretatlon. In all cases where there tS more Ihan one Borrower or Guaranlor. then ai/ words USed In Ihls Guaranly In the singular shall ~
doomed to havo been used In Ihe plural whero tho conled and conSlructlon SO reQu,ro; and whoro thoro IS mote Ihan one Borrower named m IT
Gu.aranty or when IhlS Guaranty IS execuled by more Ihan one GuarlnlOf, Ihe words "Borrower- and "Guaranlor- respechvely shall mean al/ al
Iny one Of more 01 them. The words -Guaranlor: "Borrower,- and Lende," Include the hOlrs, successors, assigns. and transferees 01 each
Ihem. Caphon headings In this Guaranly are 'or convonience purposes only and are nollo be used 10 Inlerpret or derlno the prOVIsions 01 It
Guaranty. If a court 0' cornpelontlurisdlcllon 'mds any proviSIon ollhlS GUlrlnly 10 be invalid or unenrorceable as 10 any person Of' circumslanc
such 'Inding shall nol render thai prov.sion invalid or unenlofceable as to any olher persons or circumstances. and all provisions of Ihls Guatar
.n all olher respGCls shall rematn valid and enforceable. II anyone or more of Borrowef or Guaranlor are corporations or partnerships, 1115 (1
necessary IOf lender 10 inqUire Into the powers 0' Borrower or Guaranlor or ollha offiCers. dIrectors, parlners, or agents acllng or purporting 10 a
on Iholf behall. and any Indebledness made or crealed In reliance upon Ihe professed exercise or such powers shall be guaranteed under Ir
Guaranly.
Waiver. lender shall not be deemed 10 have waived any nghls under thiS Guaranty unless such wa....er IS given 10 wriling and Signed by lend!
No delay or omission on the part of lender 10 exercising any nght shall operate as a waIver 01 such right or any other right A waiver by Lender
a provision of Ihis Guaranty shall not prejudice or constltule a waiver 01 Lender's nghl olherwlse 10 demand strict compliance wllh Ihat provision
any olher provision 0' Ihis Guaranly. No prior waiver by Lender, nor any course of deahng between lender and Guaranlor, shall conslilule
waiver 0' any of Lender's rig his or 0' any 01 Guaranlor's obligaltons as 10 any future Iransactions. Whenever Ihe consent 01 Lender is reqUirE
under this Guaranly, Ihe granting 0' such consent by lender in any Instance shall nof conslilute continuing consent 10 subsequent inslancl
where such consenl is required and in all cases such consent may be granted or wllhheld in Iha sole dJscrehon of Lender.
CONFESSION OF JUDGMENT. GUARANTOR HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY ATTORNEY OR T~
PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTH OF PENNSYLVANIA, OR ELSEWHERE, TO APPEAR AT ANY TIME FO
GUARANTOR AFTER A DEFAULT UNDER THIS GUARANTY, AND WITH OR WITHOUT COMPLAINT FILED, AS OF ANY TERM, CONFESS 0
ENTER JUOGMENT AGAINST GUARANTOR FOR THE ENTIRE PRINCIPAL BALANCE OF THIS GUARANTY, ALL ACCRUED INTEREST, LAT
CHARGES, AND ANY AND ALL AMOUNTS EXPENDED OR ADVANCED BY LENDER RELATING TO ANY COLLATERAL SECURING T~
INDEBTEDNESS TOGETHER WITH INTEREST ON SUCH AMOUNTS, TOGETHER WITH COSTS OF SUIT, AND AN ATTORNEY'S COMMISSION C
TEN PERCENT (10%) OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST FOR COLLECTION, BUT IN ANY EVENT NOT LESS THA
FIVE HUNDRED DOLLARS ($500) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE IMMEDIATELY; AND FO
SO DOING, THIS GUARANTY OR A COPY OF THIS GUARANTY VERIFIED BY AFFIDAVIT SHAl.L BE SUFFICIENT WARRANT, THE AUfHOR"
GRANTED IN THIS GUARANTY TO CONFESS JUDGMENT AGAINST GUARANTOR SHALL NOT BE EXHAUSTED BY ANY EXERCISE OF TH'
AUTHORITY. BUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNTS DUE UNDER If"
GUARANTY. GUARANTOR HEREBY WAIVES ANY RIGHT GUARANTOR MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION WITH AI'
SUCH CONFESSION OF JUDGMENT, EXCEPT ANY NOTICE ANDIOR HEARING REQUIRED UNDER APPLICABLE LAW WITH RESPECT 7
EXECUTION OF THE JUDGMENT, AND STATES THAT EITHER A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THIS CONFESSION C
JUDGMENT PROVISION TO GUARANTOR'S ATTENTION OR GUARANTOR HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEl..
EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ AlL THE PROVISIONS OF THIS GUARANTY AND AGREES TO IT
TERMS. IN ADDITION, EACH GUARANTOR UNDERSTANDS THAT THIS GUARANTY IS EFFECTIVE UPON GUARANTOR'S EXECUTION AN
DELIVERY OF THIS GUARANTY TO LENDER AND THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE MANNER SET FORT
IN THE SECTION TITLED "DURATION OF GUARANTY." NO FORMAL ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS GUARANT
EFFECTIVE. THIS GUARANTY IS DATED DECEMBER 10, 1991.
THIS GUARANTY \fAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED,
I .
GUAR~NT.QI'l: . ~./ / v::-; ~. I'
X r.__..--k;:,:,_/ /(.,....//
JOIfn K, Rich. ' ". ;>
(SEAL)
X~ fr) (~
Linda M. Rich
{SEAL
12-10-1997
loin No Seoo311-H
COMMERCIAL GUARANTY
(Continued)
P.g. 4
.-
INDIVIDUAL ACKNOWLEDGMENT
STATEOF Pfwl\l~"'c..ul>,..u"\
COUNTY OF C. lJ ^'6.~1?
'"
,
On thls,lIIe lDJ!.... day 01 l'I€un..JI.UL ,tlj',.'2, belor. me _6~~"'f'r'I'\ \\{luf. .1IIe
undlrllgned Notary PublIC, I*1ONIr ~ JoIln K, Rleh Iftcl Una II, Rid!, known to me (or ...... 0tlIy 11''''''') to be _ w_
IIIftl11 1111 .ubIc:ttbtd 10 IIIe wttl1ln 'llI~umon~ Ind aeknowlldgecllhattllly I.ac:uted thl ..me lor IhI p_ _n eonlaJned,
In wllnl metal .....
NOI.ria' Saal
Sharon K. M,lIor, Notary Publle
SoutIl "'_lOll Twp.. Cumbo".nd Coon,y
My Commission EllPI'OS Aug. 20, 199B
\~~ ~.~~U.L~
Notary Public In and tor lhe Stale of
n-:"\'n..
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