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HomeMy WebLinkAbout03-3270MANUFACTURERS AND TRADERS TRUST COMPANY, SUCCESSOR BY MERGER TO KEYSTONE FINANCIAL BANK, N.A., Plaintiff R. E. GRANT COMPANY, INC., Defendant IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA NO. ~'J-- ~-]O ~ CIVIL ACTION - LAW CONFESSION OF JUDGMENT CONFESSION OF JUDGMENT Pursuant to the authority contained in the warrant of attorney, the original or a copy of which is attached to the complaint filed in this action, I appear for the Defendant and confess judgment in favor of the Plaintiff and against Defendant as follows: Principal Other authorized items: Interest to July 2, 2003 Attorney's Commission TOTAL Date: July 2, 2003 $50,000 Note © 9.75% $49,293.06 $4,118.01 $ 5~341.11 $58,752.18 plus additional interest, and costs from the date of the Complaint. Respectfully submitted, SAIDIS, SHUFF, FLOWER & LINDSAY By: .., ' Su rel~gle'Couff ID #24848 2109 Market Street Camp Hill, PA 17011 (717) 737-3405 Attorney for Defendant MANUFACTURERS AND TRADERS TRUST COMPANY, SUCCESSOR BY MERGER TO KEYSTONE FINANCIAL BANK, N.A., Plaintiff R. E. GRANT COMPANY, INC., Defendant : IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA NO. CIVIL ACTION - LAW CONFESSION OF JUDGMENT COMPLAINT FOR CONFESSION OF JUDGMENT UNDER RULE 2951 The name and address of the Plaintiff is Manufacturers and Traders Trust Company, Successor by Merger to Keystone Financial Bank, N.A., 1331 Twelfth Avenue, Altoona, Pennsylvania 16601. 2. The name and last known address of the Defendant is R. E. Grant Company, Inc. ("Defendant"), 342 Walton Street, Lemoyne, Pennsylvania 17043. 3. Defendant executed and delivered to Plaintiff a Promissory Note in the original principal amount of Fifty Thousand and 00/100 Dollars ($50,000.00) ("Note"), a tree and correct photostatic reproduction of the original of which is attached hereto as Exhibit "A" and made a part hereof. 4. Defendant is in default of Defendant's obligations to make payment to Plaintiff as required in the Note, and Plaintiff has demanded payment in full of all outstanding amounts as provided in the Note. A copy of Plaintiffs demand is attached hereto as Exhibit "B" and made a part hereof. 5. with a consumer credit transaction. 6. There has not been any assignment of the Note. $50,000 Note @ 9.75% Judgment is not being entered by confession against a natural person in connection Judgment has not been entered on the Note in any jurisdiction. The mount due to Plaintiff as a result of Defendant's default is as follows: a. Principal $49,293.06 b. Interest to July 2, 2003 $ 4,118.01 c. Attomey's Commission $ 5~341.11 TOTAL $58,752.18 9. Interest continues to accrue at the rate of Seven and 53/100 Dollars ($7.53) per day as provided in the Note. WHEREFORE, Plaintiff, Manufacturers and Traders Trust Company, Successor by Merger to Keystone Financial Bank, N.A., demands judgment against R. E. Grant Company, Inc., Defendant, in the amount of Fifty-Eight Thousand Seven Hundred Fifty-Two and 18/100 Dollars ($58,752.18), plus interest at the rate of Seven and 53/100 Dollars ($7.53) per day, through the date of payment, including on and after the date of entry of judgment on this Complaint, and costs. Respectfully submitted, SAIDIS, SHUFF, FLOWER & LINDSAY Date: July 2, 2003 By: GeolOgy ~k~a~,~quire Sup~6me~Surt ID #24848 210OM~arket Street Camp Hill, PA 17011 (717) 737-3405 Attorney for Plaintiff $50,000 Note ~ 9.75% PROMISSORY NOTE ' $50,000.00 ;' ~ i ' TCL I References in the shaded area are for Lender's use only and do not limit the applisab~lity of this 0ccument to any pari~cu~ar loan Borrower: R.E. Grant Company, Inc, Lender: 342 Walton Street Lemoyne, PA 170~3 Fanl~era Trusl Company Highland Park Office One West High Street Carlisle, PA 17013 Principal Amount: $50,000.00 Initial Rate: 9.750% Date of Note: January 26, 1995 PROMISE TO PAY. R. E. Grant Company, Inc. ("Borrower") promises to pay to Farmers Trust Company ("Lender"), or order, in lawful money of the United States of America, on demand, the principal amount of Fifty ThouSand & 00/100 Dollars ($50,000.00) or so much as may be outstanding, together with Interest on the unpaid outstanding principal balance of each advance. Interest shall be calculated from the date of each advance until repayment of each ~lvence. PAYMENT. Borrower will pay this Ioaxi Immediately *"pan Lender's demand. In ~ddltion, Borrower will pay regular monthly payments of all accrued unpaid Interest due as of each payment date, beginning February 26, 1995, with all subsequent interest payments to be due on the same day of each month after that. Borrower will pay Lender et Lender's address shown above or at such other place as Lender may designate in writing. Unless otherwise agreed or required by applicable law, payments will be applied first to accrued unpaid interest, then to principal, and any remaining amount to any unpaid collection costs and late charges. VARIABLE INTEREST RATE. The interest rate on this Note is subject to change from time to time based on changes in an index which is the Farmer's Trust Company Base Rate (the "index"). The index is not necessarily the lowest rate charged by Lender on its loans and is set by Lender in its sole discretion. If the Index becomes unavailable during the term of this Ican, Lender may designate a substitute index after nolitying Borrower. Lender will tell Borrower the current Index rate upon Borrower's request. Borrower understands that Lender may make Io~ns based on other rates as well. The interest rate change will not occur more often than each day. The Index currently is 8.750% per annum. The interest rate to be applied to the unpaid principal balance of this Note will be et a rate of 1.000 percentage point over the Index, resulting in an initial rate of 9.750% per annum. NOTICE: Under no circumstances will the interesf rate on this Note be more than the maximum rate allowed by applicable ]aw. PREPAYMENT. Borrower may pay without penalty all or a portion cf the amount owed earlier than it is due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower of Borrower's obligation to continue to make payments of accrued unpaid interest. Rather, they will reduce the phncipal balance due. DEFAULT. Borrower will be in default if any of the following happens: (a) Borrower taits to make any payment when due. (b) Bcn'ower breaks any promise Borrower has made to Lender, or Borrower fails to perform promptly at the time end sthcfly in the manner provided in this Note or any agreement related to this Note, or in any other agreement or ican Borrower has with Lender, (c) Borrower defaults under any loan, ex'tension of credit, secudty agreement, purchase or sales agreement, or any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's property or Borrower's ability to repay this Note or perform Borrewer's obligations under this Note or any of the Related Documents. (d) Any representation or statement made or furnished to Lender by Borrower or on Borrower's behalf is talse or misleading in any material respect. {e) Borrower becomes insolvent, a receiver is appointed for any part of Borrower's properiy, Borrower makes an essignmenl for the benefit of credilors, or any proceeding is commenced either by Borrower or against Borrower under any bankruptcy or insolvency laws. (f) Any creditor tries to take any of Borrower's property on or in which Lender has a lien or secudty interest. This includes a garnishment of any of Borrower's accounts with Lender. (g) Any of the events described in this default section occurs with respect to any guarantor of this Note. (h) Lender in good faith deems itself insecure. LENDER'S RIGHTS. Upon default, Lender may, after giving such notices as required by applicable law, declare the entire unpaid principal balance on this Note and all accrued unpaid interest immediately due, and then Borrower will pay that amount. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower also will pay Lender that amount. This includes, subject to any limits under applicable law, Lender's attorneys' fees and Lender's legal expenses whether or not there is a lawsuit, including attorneys' fees end legal expenses for bankruptcy proceedings (including effodis to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services. If not prohibited by applicable law, Borrower also will pay any court costs, in addition to all other sums provided by law. If judgment is entered in connection with this Note, interest will continue to accrue on this Note after judgment at the interest rate applicable to this Note at the time judgment is entered. Tbta Note has been delivered to Lender and accepted by Lender in the Commonwealth of Pennsylvania. If there Is s lawsuit, Borrower agrees upon Lender's request to submit to the jurls~lictton of the courts of Cumberland County, the Commonwealth of Pennsylvania. This Note shall be governed by and construed In accordance with the laws of the Commonwealth of Pennsylvania. RIGHT OF SETOFF. Borrower grants to Lender a contractual possessory security interest in, and hereby assigns, conveys, dalivars, pledges, and transfers to Lender all Borrower's right, title and interest in and to, Borrower'S accounts with Lender (whether checking, savings, or some other account), including without limitation all accounts held jointly with someone else end ail accounts Borrower may open in the future, excluding however all IRA, Keogh, and trust accounts. Borrower authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing on this Note against any and all such accounts. COLLATERAL. This Note is secured by, in addition to any other collateral, a Mortgage dated January 26, 1995, to Lender on real property located in Cumberland County, Commonwealth of Pennsylvania, and a Modgage dated January 26, 1995, to Lender on real property Iocatsd in Cumberland County, Commonwearth of Pennsylvania, all the terms and conditions of which are hereby incorporated and made a part of this Note. LINE OF CREDIT. This Note evidences a revolving line of credit. Advances under this Note may be requested orally by Borrower or by an authorized person. Lender may, but need not, require that all orai requests be confirmed in writing. All communications, instructions, or directions by telephone or otherwise to Lender are to be directed to Lender's office shown above. The following party or parties are authorized lo request advances under the line of credit until Lender receives from Borrower at Lender's address shown above wdtten notice of revocation of their authority: Rosemary E. Grsnt~ President. Borrower agrees to be liable for all sums either: (a) advanced in accordance with the instructions of an authorized person or (b) credited to any of Borrower's accounts with Lender. The unpaid principal balance owing on this Note at any time may be evidenced by endorsements on this Note or by Lender's internal records, including daily computer print-outs. Lender will have no obligation to advance funds under this Note if: (a) Borrower or any guarantor is in default under the terms of this Note or any agreement that Borrower or any guarantor has with Lender, including any agreement made in connection with the signing of this Note; (b) Borrower or any guarantor ceases doing business or is insolvent; (c) any guaranto~ seeks, claims or otherwise attempts to limit, modify or revoke such guarantor's guarantee of this Note or any other loan with Lender;, (d) Borrower has applied funds provided pursuant to this Note for purposes other than those authorized by Lender; or (e) Lender in good faith deems itself insecure under this Note or any other agreement between Lender and Borrower. · - ~ PROMISSORY NOTE .._. Page 2 (Continued) ~ENERAL PROVISIONS. This Note is payable on demand. The inclusion of sl:~cific default provisions or dghts of Lender shall not preclude Lender's dght to declare payment of this Note on its demand. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarentees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, protest and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in wditng, no party who signs this Note, whether as maker, guarantor, accommodation maker or endomer, shaJI be released Eom liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan, or reteese any party or guarantor or colleterai; or impair, tsi} to realiz~ upon or perfect Lender's security interest in the collateral; end take any other action deemed nscess~ry by Lender without the consent of or notice to anyone. AIl such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. If any portion of this Note is for any reason determined to be unenforceable, it will not effect the enforceability of any other provisions of this Note. CONFESSION OF JUDGMENT. BORROWER HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY A'~TORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTH OF PENNSYt. VANIA, OR ELSEWHERE, TO APPEAR AT ANY TIME FOR BORROWER AFTER A DEFAULT UNDER THIS NOTE, AND WITH OR WITHOUT COMPLAINT FILED, AS OF ANY TERM, CONFESS OR ENTER JUDGMENT AGAINST BORROWER FOR THE ENTIRE PRINCIPAL BALANCE OF THIS NOTE AND ALL ACCRUED INTEREST, TOGETHER WITH COSTS OF SUIT, AND AN ATrORNEY'S COMMISSION OF TEN PERCENT (10%) OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST FOR COLLECTION, BUT IN ANY EVENT NOT LESS THAN FIVE HUNDRED DOLLARS ($500) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE IMMEDIATELY; AND FOR SO DOING, THIS NOTE OR A COPY OF THIS NOTE VERIFIED BY AFFIDAVIT SHALL BE SUFFICIENT WARRANT. THE AUTHORITY GRANTED IN THiS NOTE TO CONFESS JUDGMENT AGAINST SORROWER SHALL NOT BE EXHAUSTED BY ANY EXERCISE OF THAT AUTHORITY, BUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNTS DUE UNDER THIS NOTE. BORROWER HEREBY WAIVES ANY RIGHT BORROWER MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION W~TH ANY SUCH CONFESSION OF JUDGMENT AND STATES THAT BORROWER HAS BEEN REPRESENTED BY LEGAL COUNSEL. THE LIEN ARISING FROM ANY JUDGMENT CONFESSED OR ENTERED PURSUANT TO THE FOREGOING AUTHORrTY SHALL NOT EXTEND TO ANY OF BORROWER'S RESIDENTIAL REAL PROPERTY AS THAT TERM IS DEFINED iN THE PENNSYLVANIA ACT OF JANUARY 30, 1974 (PA. LAWS 13, NO. 6), REFERRED TO AS THE LOAN INTEREST AND PROTECTION LAW, AS AMENDED, AND THE HOLDER OF ANY ,JUDGMENT CONFESSED OR ENTERED PURSUANT TO THE FORGOING AUTHORITY SHALL NOT, IN ENFORCEMENT OF ANY SUCH JUDGMENT, EXECUTE, LEVY OR OTHERWISE PROCEED AGAINST ANY SUCH RESIDENTIAL REAL PROPERTY; PROVIDED, HOWEVER, THAT THE LIEN OF SUCH JUDGMENT SHALL EXTEND TO SUCH RESIDENTIAL REAL PROPERTY AND THAT THE HOLDER THEREOF SHALL BE PERMITTED TO EXECUTE, LEVY OR PROCEED AGAINST SUCH RESIDENTIAL REAL PROPERTY FROM AND AFTER THE ENTRY OF A JUDGMENT AS CONTEMPLATED BY SECTION 407 OF SUCH LOAN INTEREST AND PROTECTION LAW AND RULES 2981 TO 2986 OF THE PENNSYLVANIA RULES OF CIVIL PROCEDURE, OR SUCCESSOR OR SIMILAR STATLrTES AND RULES. NO LiMITATiON OF LIEN OR ANY EXECUTION, LEVY OR OTHER ENFORCEMENT CONTAINED ~N THE IMMEDIATELY PRECEDING SENTENCE SHALL APPLY WITH RESPECT TO ANY JUDGMENT OBTAINED OTHER THAN BY THE FOREGOING AUTHORITY TO CONFESS OR ENTER JUDGMENT. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARI/~LE INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE NOTE. BORROWER: R. E. Grant ~/op~any, By= · ? Variable Rate. L~ne of Credit. LASER PRO, Reg. U.S. Pat. & T.M. Off., Var. 3.19 (c) 1995 CPI ~o~ervlce~. Inc. All rights resales. [PA-~20 REGRANT.LN C1.0VL] Jun.11. 2003 'E:O4AM M&- ~AN% %~.8~E :. 2 Manufacturers and Trnders Trust Company 1331 12th Avenue, Altoona. PA 16601 (814) 947-1924 Fax: (814) 947 1922 October 9, 2002 Special Assets Department **IMPORTANT NOTICE** VIA CERTII~ED MAIL Ms. Rosemary E. Giant RE Grant Co. Inc. 342 Walton Street Lernoyne, PA 17043-2026 Re: Account Numbe~. Amount Due: 3966323017 Account Number: $20,065.23 Amount Due: 198979-30012 $49,203.24 Account Number: Amount Due: 198979-30004 $49,293.06 Dear Ms_ Grant: THE ABOVE ACCOUNTS ARE IN DEFAULI' dae to payment delinqucmcy and the cessation of business and/or insolvency of RE Grant Co., lnc. These are e'wmts of default under the loan documents entitling thc Bank to accelerate the inclebtedncss. Accordingly, Manufacturers and Tradem Trust Company (M&T Bank) demands immediate and full payment of the above accounts. The amounts shown above must bc fully paid in order to avoid M&T Bank commencing legal actions against you, RE Grant Co., Inc., and/or all guarantors to recover the unpaid principal amounts, plus all unpaid interest, costs and fees. In accordance with local Court rulm, once any judgmmt is on record for thirty (30) days, M&T Bank can request that the Sheriff levy on your property, or any other items of collateral, and thereafter conduct a public sale. Obviously, any legal action by the Rank would place your continuing ownership of real estate and/or other personal assets m significan~ jeopardy. Please telephone me if you have any questions about M&T Bank's position in this Assistant Vice President MANUFACTURERS AND TRADERS TRUST COMPANY, SUCCESSOR BY MERGER TO KEYSTONE FINANCIAL BANK, N.A., Plaintiff Vt R. E. GRANT COMPANY, INC., Defendant : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA : NO. : CIVIL ACTION - LAW : CONFESSION OF JUDGMENT VERIFICATION I, Keith P. Mangan, Assistant Vice President, for Manufacturers and Traders Trust Company, successor by merger to Keystone Financial Bank, N.A., being authorized to do so on behalf of Manufacturers and Traders Trust Company, successor by merger to Keystone Financial Bank, N.A., hereby verify that the statements made in the foregoing pleading are tree and correct to the best of my information, knowledge and belief. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S. Section 4904, relating to unswom falsification to authorities. MANUFACTURERS AND TRADERS TRUST COMPANY, SUCCESSOR BY MERGER TO KEYSTONE FINANCIAL BANK, N.A. By: Assistant Vice President MANUFACTURERS AND TRADERS TRUST COMPANY, SUCCESSOR BY MERGER TO KEYSTONE FINANCIAL BANK, N.A., Plaintiff R. E. GRANT COMPANY, INC., Defendant IN THE ~ 2OURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA No. 0 CIVIL ACTION - LAW CONFESSION OF JUDGMENT ENTRY OF APPEARANCE TO THE PROTHONOTARY: Please enter the appearance of the undersigned on behalf of Manufacturers and Traders Trust Company, Successor by Merger to Keystone Financial Bank, N.A., Plaintiff in the above captioned matter. Respectfully submitted, SAIDIS, SHUFF, FLOWER & LINDSAY Date: ,x~tr[x{ ~ g)0V~ By: S r~ Court J:D #24848 2109 Market Street Camp Hill, PA 17011 (717) 737-3405 Attorney for Plaintiff $50,000 Note @ 9.75% MANUFACTURERS AND TRADERS TRUST COMPANY, SUCCESSOR BY MERGER TO KEYSTONE FiNANCIAL BANK, N.A., Plaintiff R. E. GRANT COMPANY, iNC., Defendant : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA : NO. : CIVIL ACTION - LAW : CONFESSION OF ~UDGMENT CERTIFICATE OF ADDRESSES I hereby certify that the precise address of Plaintiff, Manufacturers and Traders Trust Company, Successor by Merger to Keystone Financial Bank, N.A., is 1331 Twelfth Avenue, Altoona, Pennsylvania 16601; and that the last known address of the Defendant, R. E. Grant Company, Inc., is 342 Walton Street, Lemoyne, Pennsylvania 17043. Respectfully submitted, SAIDIS, SHUFF, FLOWER & L1NDSAY By: Geot~i)~, Esquire Supr6ra~C~rt ID #24848 2109 Market Street Camp Hill, PA 17011 (717) 737-3405 Attorney for Plaintiff $50,000 NoTe @ 9.75% MANUFACTURERS AND TRADERS TRUST COMPANY, SUCCESSOR BY MERGER TO KEYSTONE FINANCIAL BANK, N.A., Plaintiff R. E. GRANT COMPANY, 1NC., Defendant IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION - LAW CONFESSION OF JUDGMENT NOTICE TO: R.E. Grant Company, Inc. Pursuant to Rule 236 of the Supreme Court of Pennsylvania, you are hereby notified that a JUDGMENT BY CONFESSION has been entered against you in the above proceeding and that enclosed herewith is a copy of all the documents filed in support of the said judgment. IF YOU HAVE ANY QUESTIONS CONCERNING THIS NOTICE, PLEASE CALL: GEOFFREY S. SHUFF, ESQUIRE TELEPHONE NUMBER: (717) 737-3405 (} P4~rO~Onota~ % $50,000 Note ~ 9.75%