HomeMy WebLinkAbout99-05968
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No. W-A7M Civil Term
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Court of Common Pleas
Cumb. Co.
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NOTE 9y' s9?? Ccu?
WOOTTON AND KNISLEY, P.C.,
BEN T. WOOTTON and
PATRICIA A. WOOTTON
DATED: S/j /j
TO
ROGER M. KNISLEY
FOR VALUE RECEIVED, WOOTTON AND KNISLEY, P.C., a Pennsylvania
professional corporation, of 475 Governor Road, Hershey, Dauphin County, Pennsylvania, and
BEN T. WOOTTON and PATRICIA A. WOOTTON, husband and wife, of 2290 Lambs
Gap Road, Enola, Cumberland County, Pennsylvania 17025 (hereinafter collectively referred to
as the "Borrower"), hereby promises to pay to the order of ROGER M. KNISLEY (hereinafter
referred to as the "Lender"), at the residence of the Lender at 532 East Maple Street, Annville,
Lebanon County, Pennsylvania 17003, or at such other place as the Lender may from time to
time designate in writing, the principal sum of Two Hundred Eighty Thousand and No/100
($280,000.00) Dollars, the debt, with interest on the unpaid principal amount at the rate of six
(6%) percent per annum, payable over a period of ten (10) years on a level payment of principal
and interest basis.
Repayment of the debt shall be in the following manner:
Beginning May 1, 1996, and monthly thereafter on the same date, Borrower shall pay to
the Lender the sum of Three Thousand One Hundred Nine and No/100 ($3,109.00) Dollars. The
balance of the debt shall be due and owing at the expiration of this Note on October 1, 2005.
Said note is non-interest bearing until May 1, 1996.
Borrower does hereby covenant and promise well and truly to abide by and comply with
each and every covenant and condition set forth in this Note (hereinafter referred to as the
"Note').
If an Event of Default, as described herein, or in any other document executed by
Borrower in accordance with the terms of a certain Agreement dated July 31, 1995, shall occur
and continue beyond expiration of the applicable grace or cure period, the principal amount
outstanding on this Note, together with unpaid interest thereon, may be declared or may become
due and payable upon the conditions, in the manner and with the effect provided herein. In such
case, Lender may also recover all costs of suit and other expense in connection therewith,
together with reasonable attorneys' fees, which shall be deemed to be a sum equal to five (5%)
percent of the debt, and interest on any judgment obtained by Lender at the then current rate
provided herein, including interest from and after the date of any sheriff s sale until actual
payment is made by the sheriff to Lender of the full amount.
Notwithstanding anything in this Note to the contrary, no default will be declared for the
failure of Borrower to perform any of its covenants, unless written notice of the same is given by
the Lender to Borrower, who shall cure such default within the time period provided in this Note
or any other collateral or ancillary agreements.
The occurrence of any of the following events shall constitute and "Event of Default" of
this Note: (a) failure of Borrower to pay within thirty (30) days after due all or any part of the
principal or interest; (b) failure of Borrower to observe or perform any agreements, undertakings,
conditions or obligations of this Note or of any accompanying instrument, agreement or writing;
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(c) if Borrower shall become insolvent or unable to pay debts as they mature or become due, or
shall file a voluntary petition or suffer any involuntary petition to be filed against Borrower
under any provision of any state or federal bankruptcy or insolvency statute, or shall make an
assignment for the benefit of creditors, or shall apply for or consent to the appointment of a
receiver, trustee or custodian for their assets; (d) the entry of any judgment or the issuance of any
execution, attachment or garnishment proceedings against Borrower; (e) if any representation or
warranty made in this Note or any document furnished in connection with this Note, or if any
information supplied by Borrower to Lender shall prove to be or to have been false or erroneous
in any material respect; or (f ) default by Borrower of any obligation to the Lender or to any third
party, whether as maker, co-maker, endorser, guarantor or surety.
It is also agreed that all other terms, covenants, conditions, provisions, stipulations and
agreements made by the Borrower and/or Lender in any ancillary or collateral documents arising
from the transaction between Borrower and Lender are hereby made part of this instrument, to
the same extent and with the same effect as if the same were fully set forth herein.
The Borrower of this Note authorizes any attorney at law to appear before the
prothonotary of any court of record of the Commonwealth of Pennsylvania or in any state in the
United States at any time after this Note is executed and to waive the issuing and service of
process and confess a judgment in favor of the Lender or other legal holder against any Borrower
and endorser for the full amount of the principal due on this Note, interest then appearing due,
together with costs of suit, and to release all errors and waive all right of appeal.
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It is understood and agreed by the parties hereto that the consideration of the within Note
is the present advance of funds or extension of credit to Borrower by the Lender hereof.
It is also understood that the "Lender" refers to the holder and his heirs, personal
representatives and assigns.
IN WITNESS WHEREOF, the Borrower has caused this Note to be executed and
delivered the day and year first above written.
WITNESS:
WOOTTON AND KNISLEY, P.C.
Q/IO d . oC l?iEirp) nl By;
BEN T. WOOTTON, CPA, President
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BEN T. WOOTTON, Individually
v f, I A?-
PATRICIA A. WOOTTON, Individually
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