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HomeMy WebLinkAbout07-3235Robert D. Kodak, Esquire Supreme Court I.D. 18041 KODAK & IMBLUM, P.C. Post Office Box 11848 407 North Front Street Harrisburg, PA 17108-1848 717-238-7152 Fax: 717-238-7158 email: robert.kodak@verizon.net Attornev for Plaintiff PENNSYLVANIA STATE BANK, IN THE COURT OF COMMON PLEAS Division of BLC BANK, N.A. Plaintiff v. CUMBERLAND COUNTY, PENNSYLVANIA C;~~L`Tc~..-, SPANKEY'S AUTO SALES, INC. :CIVIL DIVISION -LAW trading and doing business as SPANKEY'S AUTO SALES Defendant :CONFESSED JUDGMENT CONFESSION OF JUDGMENT Pursuant to the authority contained in the warrant of authority, a true and correct copy of which is attached to the Complaint filed in this action, I appear for the Defendants and confess Judgment in favor of Plaintiff and against Defendant as follows: Principal Amount Due .............................. $ 338,711.98 Interest Amount Due @ 6.00% p/a ..................... $ 225.66 Attorney Collection Fees .................... .... $ 33,871.98 TOTAL .............................. .. 3 3.96 Judgment entered as above. Robert D. Kodak, Esquire Attorney for Defendant Prothonotary PENNSYLVANIA STATE BANK, IN THE COURT OF COMMON PLEAS Division of BLC BANK, N.A. :CUMBERLAND COUNTY, PENNSYLVANIA Plaintiff v. NO SPANKEY'S AUTO SALES, INC. :CIVIL DIVISION -LAW trading and doing business as SPANKEY'S AUTO SALES Defendant :CONFESSED JUDGMENT CONFESSED JUDGMENT COMPLAINT Plaintiff files this Complaint pursuant to Pa. R.C.P. No. 2951(b) for Confession of Judgment and avers the following: 1. Plaintiff is Pennsylvania State Bank, a Division of BLC Bank, N.A., a financial organization duly organized and existing under Federal laws, with its principal office and place of business at 2148 Market Street, Camp Hill, Cumberland County, Pennsylvania 17013. 2. Defendant, Spankey's Auto Sales, Inc., is a corporation duly organized and existing under the laws of the Commonwealth of Pennsylvania, with an office and place of business at 701 East Locust Street, Mechanicsburg, Cumberland County, Pennsylvania 17055 and is trading and doing business as Spankey's Auto Sales.. 3. In an effort to induce Plaintiff to extend credit to the business known as DBL, a Pennsylvania Limited Partnership, Spankey's Auto Sales, Inc., General Partner (hereinafter "DBL") F:\USER\BONNIEJO\PSB\CONFJUDG\Spankeys et al\comp spankeys no inc gty 3070110.wpd:29May07 1 on or about February 11, 2004, Defendant did execute an a Commercial Guaranty as a guaranty of payment on a principal Note in the amount of Three Hundred Seventy-Three Thousand ($373,000.00) Dollars. A true and correct copy of said Commercial Guaranty is attached hereto, marked as Exhibit "A" and made a part hereof. 4. Defendant did further execute a Disclosure for Confession of Judgment on or about February 1 1, 2004 and a true and correct copy of said Disclosure for Confession of Judgment is attached hereto, marked as Exhibit "B" and made a part hereof. 5. The attached Commercial Guaranty has not been assigned. 6. Judgment has not been previously entered on the attached Commercial Guaranty in any jurisdiction. 7. DBL is indebted to Plaintiff in the principal amount of Three Hundred Thirty-Eight Thousand, Four Hundred Eighty-Six Dollars and Thirty-Two Cents ($338,486.32), for which no payment has been received when due and payable which constitutes a default, whereby Plaintiff exercises its option to declare the entire balance covered by the within Commercial Guaranty immediately due and payable. Said principal balance due and owing by DBL to Plaintiffis set forth on Plaintiff s Note Inquiry attached hereto, marked as Exhibit "C" and made a part hereof. F:\USER\BONNIEJO\PSB\CONFJUDG\Spankeys et allcomp spankeys no inc gty 3070110.wpd:29May07 2 MRY-24.-2007 11:14 COMMERCIAL LOAN DOCUMENTA 7177354764 P.014 ~, COMMERCIAL. 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Any item above containing """' has been omitted due to text length Ilmitstions. Borrower: DBL, a Dannsylvanla um110d Partnership (TIN: Lender: DENNSYLVANIA STATE BANK 25'1848185) West Hanover Flnanclal Center 701 E. Locust Street 7040 Jonestown Road Mechan(csburg, PA 17055 Harrisburg, PA 17112-3to'3.4 (717) 9209900 Guarantor: Spankey's Auto Sales (TIN: 23-2131696) 701 E. Locust Strcot MochanlCSburg, PA 17055 ~-- AMOUNT OF GUARANTY. ThIS Is a guaranty of payment of the Noto, Ineluding without Ilmltatton the principal Note amount Of Three Muntlreq Seventy-three Thousand & 00/100 Dollars (5373,000.00). GUARANTY. For good and valuable consideration, Spankey's Auto Sates {"Guarantor') absolutely and uncondMonally guarantees and promises to pay to PENNSYLVANIA STATE BANK ("Lender") or its order, in legal tender of the United States of Amorlca, the Indebtedness (as that term is defined below) of DBL, a Pennsylvania Limited Partnership ("Borrower") to Lender on the terms and condhlona act forth In this Guaranty. MAXIMUM LIABtLRY. The maximum Ilpbility of Guarantor under this Guaranty shall not exceed a[ any onr~ time the amount of the Indebtedness described herein, plus all Costs and expenses of (A) enforcement of this Guaranty and (0) C011@ctipn and sale of any collateral securing this Guaranty. The atx>ve limitation on liability Ls not a restriction on the amount of the Indebtedness of Borrower to Lender either In the aggregate or at any one time. ff Lander presently holds one or more guaranties, or hereaher receives additional guaranies from Guarantor, Lender's rights under all guaranties shall be cumulative. This Guaranty shall not (unless specifically provided below to the contrary) affect or Invalidate any such other guaranties. Guarantor's liability win be Guarantor's aggregate liability under the terms of this Guaranty and any such othe- unterminated guarantles. INDEBTEDNESS GUARANTEED. The Indebtednes8 guaranteed by this Guaranty InCludeS the Note, including (a} all principal, (b) all Interest, (c} all Tate charges, (d) all loan fees and loan charges, and (e) all collection Costs and expenses relating to the Note or to any colateral for the Note Collection costs and expenses include without limitation all of Lender's attorneys' fees. DURATION OF GUAAAMY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue In full force until all Indebtedness shall have bAen fully and finally paid and satisfied and ail of Guarantor's other oWlgatkuts under this Guaranty shall have been performed in full. Release of any other guarantor or terminatlon of any other guaranty of the Indebtedness shall not affect the liabiity of Guarantor under this Guaranty. A revocation Lender receives from any one a more Guarantors shad not affect the liability of any remalning Guarantors under this Guaranty. GUARANTOR'S AUTHORI7ATION TO LENDER. Guarantor auttxxizes Lender, without notice or demand and without lossoning Guarantor's IlablNty under this Guaranty from time to time: (A) to make ono or more additional secured or unsecured loans to Borrower, tp lease equipment or other goods to Borrower, or otherwise to extend additional credit to Borrower, (B) to alter, compromise, renew, extend, aCCAlerate, or otherwise change one or more times the time for payment or other terms of the Indobtadrtess or any part of the Indebtedness, including increases and decreases of the rate of interest on the Indebtedness; extensions may be repeated and may be for bnger than the original loan term; (C) to take and hold security for the payment of this Guar,~nry or the Indsbtsch-sss, and exchange, enforce, waive; subordlnatn, fall or decide not to perfect, and release any such security, with or without the substlnttion of new collateral; (D) to release, substkuts, agree not to sue, or deal with any one or more of Borrower's sureties, endorsers, or other guarantors on any !arms or in any manner Lender may Choose; (E) to determine how, when and what application of payments and credits shall be made on the Indebtedness (~ to apply such security and direct the order or manner of sale thereof, Includlrtg whhout limitation, any nonjudicial solo pormltted by the terms of the controlling seCUrlly agreement or deed of trust, as Lender in its discretion may determine; (G) to sell, transfer, assign pr grant participations in all or any pan o1 thA Indebtedness; and (H) to assign Or transfer this Guaranty in whole or in part. GUARANTOR'S REDgESEN1 ATIONS AND WARRANTIES. Guarantor represerrts and warrants to Lender that (A) no reprssentaliorrs or agreements of any kind have been made to Guarantor which would limit or qualify in arry•way the temu of this Guaranty; (B) this Guaranty Is executed at Borrower's request and not at the request of Londcr; (C) Guarantor has full power, right and authority to enter into this Guaranty (O) the provisions of this Guaranty do not conflict with or result In a default under any agreement or other Instrument binding upon Guarantor and do not result in a violation of any law, regulation, court decree or order applkable to Guarantor, (E) Guarantor has not and will not, without the prior written consent of Lender, sell, lease, asslgri, encumber, hypothecate, transfer, or otherwise dispose of aN or substantially all of Guarantor's assets, or any irttErost therein; (F) upon Lender's request, Guarantor will provide to Lender financial and credit information in form acceptable to tender, and all such financial information which currently has been, and aB future financial information which wiA bo provided to Lender is and will be true and correct in all material respects and fairly present Guarantor's finenclsl eondhion es of the dates the financial information is provkled; (G) ra material adverse change has occurred In Guarantor's flnanefal condition since the date of the most•recent financial statements provided to Lender and no event has occurred which may materially adversely affect Guarantor's financial condition; (H) no litigation, calm, investigation, administrative proceeding Or similar action (incltxiing those for unpaid taxes) against Guarantor Ls pending or threatened; (t) Lender has made no reproscntation to Guarantor as to the creditworthiness of t3orrowor; and (J) Guarantor has et:tabllshad adequate means of ob4nlning from Borrower on a continuing basis information regarding Borrower's financial condition. Guarantor agrees to keep adequately informed front such means of any facts, 8vents, or clrcurt~tancas which might In any way affect Guarantor's risks under this Guaranty, and Guarantor further agrees that Lender shall have no Obligation t4 disclose to Guarantor any intormstxxt or documents acquired by Lander In the course of its relationship with Borrower. GUARANTOR'S WAIVERS. Except as prohibited by applicable law, Guarantor waives any right to require Lender (A) to continue lending money or to extend other credit to Borrower, (B) to make a„y presentment, protest, demand, or nonce of any kind, including notice of any nonpayment of the Indebtedness or of any nonpayment mated to any collateral, or notice of any action or nonaction on the part of•8orrower, LrrndAr, any surety, enders®r, or other guarantor in connection with the Indobtednoss or in connection ow or additional loans or obligations; (C) t0 resort for payment or to proceed directly or at once against any person, ' guarantor; (D) to proceed directly against or exhaust any Wtlateral Held by Lender from Borrower, any other guHranto ive notice of the terms, limo, and place of any public or private Sale of personal property Security held by Lander from other applicable prcvlslons of the Uniform Commercial Code; (~ to pursue any other remedy within Lender'g power, ~ ~ fission of any kind, or et any rims, with respect to any matter whatsoever. In addition to the waivers set forth herein. if now or hereafter B be fully secured by collstcrsl pledged by t3orrowcr, Guarantor Borrower's respACtive successors, any Claim or right to pF u may now tv~ve and the Indebtedness shall not at HII t;meg until paid p in favor of Louder and Borrower, and Lender's and or hereafter have or acquire against Sorower, by MAX-24.-2407 11:15 COMMERCIAL LOAN DOCUMENTA 7177354764 P.015 COMMERCIAL GUARANTY Loan No; 66000076 _ (Continued) Page 2 --T - ... -,.. _ ,.. _ subrogation or otherwise, so that at n0 time shall Guarantor be or become a 'creditor` of Borrower within the meaning of 11 U.S,C soctbn 547(b), or _~ any successor provision of the Federal bankruptcy laws, Guarantor also waives any and all rights or defenses arising by reason of (A) any 'one action' or "anti-deficiency' law or any omer law which may prevent Lender from bringing any action, including a claim for tlefx:iency, against Guarantor, before or after Lender's corrar+encemont or completion of any forecbsure action, olmer judicially or by exercise of a power of sale; (B) any election of romedl~ by Lender which destroys or otherwise adversely atfeccg Guarantor's subrogation rights or Guarantors rights to proceed against Borrower for reimbursomont, Including without limitation, any loss of rights Guarantor rttay suffer by reason of any law limiting, qua)Uying, Or discharging the Indebtedness; {C) any disability or other detenso of Borrower, of any other guarantor, or of any other person, or by reason of the cessation of Borrower's liability from any cause wha45oever, other thdn payment in full in legal tender, of me Indebtedness; (D) any right to claim discharge of me Indebtedness on the basis of unjustNled impaim~ent Of any cdlateral tOr the IndebtodneSS; (~ any statute of Ilmltations, if st any Urns any action or suit brought by Louder against Guarantor is commenced, mere is outstanding Indebtedness of Borrower to Lender whkh is not barred by any appllCable statute of Ilmkations; or (F) any defenses given to guarantors at law or in equity other than actual payment and performance of th0 Indebtedness. tf payment is made by Borrower, whether voluntarily or otherwise, or by any th[rd party, on the indebtedness and moreatter Lender is forced to ramp the amount of that payment to Borrowers trustee In bankruptcy or to any slmllgr person under any federal or state bankruptcy law or law for the relief of debtors, the Indebtedness Shall be considered unpaid for the purpose of the cnforcernent of this Guaranty. Guarantor further waives and agrees not to a ;sert or claim st any Umo any deductions to the amourrt guaranteed under this Guaranty for any Clairtt of setoN, countorclalm, Counter demand, rocoupment or similar right, whether such claim, demand or right may be asserted by mo Borrower, the Guarantor, or both.. GUARANTOR'S UNDERSTANDING WITH RESDECT YO WAIVERS. Guarantor warrants and agrees mat each pf the waivers Set forth above IS made with Guarantors fug knowledge of its signfticanCe and consequences and that, ardor the clrCUmstarx;es, me waivers are reasonable and not contrary to public policy or law. If any such waiver is determined to be contrary to any applicable law or public policy,.such waiver shall be effective only ro the extent permitted by law or public policy. SUBOg01NAT10N OF BORROWER'S DEBTS 70 GUARANTOR. Guarantor agrees that me Indebtedness of Borrower to Lender, wnemer now exlsdng or ho-eaher Created, shall bo superbr to any claim mat Guarantor may now have or horeaher acquire against Borrower, whether or not Borrower becomes insolvent Guarantor hereby expressly subordinates any claim Guarantor may have against ~Borrowar, upon any account whatsoever, to any Claim that l~rtder may new or hereafter have against Borrower. In the event of Insolvency and consequent liquidation of me assets Of Borrower, through bankruptcy, by an assignment forme benafh of Creditors, by voluntary liquidation, or otherwise, the elssets of Borrower apptlcabte to me payment of the claims of both Lender and.Guar3ntor shall be paid to Lender and shall tx: first applied by Lender t0 the Indebtedness of Borrower to Lender. Guarantor does hereby assign to Lender all clalrrts which it may have or acquire against Borrower or against any aSSlgnee or trustee in bankruptcy of Borrower provided however, that such assignment shall bo eBectlve only for the purpose of assuring to Lender full payment In legal tender of the Indebtedness, If Lender so requests, any notes or credit agreerrtentq now or hereafter evidoncing any debts Or obligations of Borrower t0 Guarantor shall be marked with a legend that the same are subject t0 this Guaranty and Shelf be delivered to Lender. Guarantor agrees, and Lender is hereby authorised, in the name of Guarantor, from Ume to time to execute and file financing statements and continuation statements and to execute such other documents artd to take Such other actions as Lender deems necessary or appropriate to pertect, preserve and enforce its rights under this Guaranty. fNISCELLgNEOUS PROVISIONS. The following n'drCeilaneous provisbnS are a part of th(s Guaranty: Amendments; Th)s Guaranty, together whh any Related Documents, constitutes me entire understanding and agreement of mo parties as to the matters set forth in this Guaranty. No alteration of or amendment to this Guaranty Shall be effective unless given in writing and signed by the party or parties sought to be charged or bound by me alteration or amendment Attorneys' Fees; Expenses, Guarantor agrees to pay upon demand ail of Lenders Costs and expenses, irtcludirtg Lenders attorneys' fees and Lender's IogaPexpenses, incurred in connectlon with the onforc9meni Of mis Ouaranry: Lender may hire or pay son'teorte also to help enforce this Guaranty, and Guarantor shall pay me Costs and expenses of such enforoomonL Costs and expenses Include Lenders attorneys' tees and legal expenses whether or not mere Is a lawsuit, including attorneys' tees end fagot expenses for bankruptcy procoedingy (including efforts ro modify or vacate any automatic sffiy or (nf unction), appeals, and a„y er>be;pated port-Judgment colleaan Services. Guarantor also shall pay all court Cosh and such additional fees as may be directed by the court. Caption Headinga Caption headings in mis Guaranty are for canvonlonce purposes only and are not to be used to interpret or define the previsons of mis Guaranty. Goveminy Law. ThI6 Guaranty will bo governed by, eonstruod and enforced In accordance with federal law and the laws of the Commonweahh of PMnsylvanla. This Guaranty has boon aexepted by Lender In the Commonwealth of Denn6ylvanla. Integration, Guarantor further gilrAes mat Guaranty has read and fully undersb+nds the terms of this Guaranty; Guarantor has had the opportunity to be advised by Guarantors attorney w)th respect to mis Guaranty; the Guaranty fully reflects Guarantor's h,tentlons and parol evidence is not required to interpret the terms of mis Guaranty. Guarantor hereby indemnrfles and holds Lender harrNw^s from all losses, claims, damages, and costs (Including Lender's attorneys' fees) suffered or incurred by Lender as a result of any breach by Guarantor of the warranUos, reprosentatiorts and agreements of this paragraph. Interpret~t;on, In all cases where tr-ere is more than one Borrower or Guarantor, men all wordy used In this Guaranty In the singular Shall be deemed t0 have boon used ;n the plural where the context and construction 5o require; and where there (s more man one eorrowcr Hamad in this Guaranty or when mis Guaranty is executed by more than ono Guarantor, me words "Borrower' and "Guarantor' respectively shall mean all and arty One or more OI them, The words "Guarantor,` "Borrower," and Lender' include the hairs, successors, assigns, and transferees of each of them. If a Court finds mat any provision of this Guaranty is not valid or should not be enforced, that fact by Itself will not mean that the rest of mis Guaranty will not be valid or enforced. Therefore, a court will enforce the rest of mo previsions of this Guar may bo found to be invalid or unenlorregble. If any one or more of Borrower Or Guarantor are co ~ oven N a provision pf thrs Guaranty CornPanles, or similar entities, It is not necessary for• Lender to inquire Into v+e rporatlons, partriorshlps, limited liability partners, managers, or other agents acting or purporting to act on Moir behalf, andP ny Loan Bdebtedn ss made oar createdthn rel~anco~udlrectors, professed exercise of such powers shall bo guaranteed under mis Guaranty, Pon the Notices. Unless otherwise provided Dy appllcabte law, any notice required to be given under mis Guaranty shall be given in writing, and shall be effective when. actually delivered, when actually reEeivcd by telefaCSimile (unless otherwise required by law), when deposited whh a nationally recogn(zed overnight courier, or, if malted, when deposited In the Urtiled States mall, as first class, certified or registered marl postage prepaid, directed to the addresses shown. Haar the beginning of this Guaranty. Any party may change its address for. notices under this Guaranty by giving formal written notice to mo other parties, specifying that the purpose of the notice is to changes the party's address. For notice purposes, Guarantor agrees to keep Londsr infom ~t all dmas of Guarantors current address, Unless "tiervise provided by sppllcabl9 law, ii there is rioro thr,n one Guarantor, any notice give..,y Londsr to any Guarantor L; deemed to be notloe gi( .o alt Guarantors, No Waiver by Lender. Lender shall not tx: doomed to have waived any rlohr„ under this Guaranty unless such wnivnr is nNF+., in wrtrinn An,r MAY-24-2007 ;.1:15 COMMERCIAL LOAN DOCUMENTA 7177354764 P.016 COMMERCIAL GUARANTY Loan No: 66000076 (Continued) Page 3 signHd by Lender, No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of s provision of this Gvara-,ty Shall not prejudice or constitute a waiver of Lenders right otherwise to demand strict compliance with that provision or any other provision of this Guaranty. No prior waiver by Lender, nor any wurse of dealing between Lender and Guarantor, shall constitute a waiver of any of Lender's rights or of any of Guarantor's obligations as to any future transaction,. Whenever the consent of Lender is required under this Guaranty, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent Instances where such consent IS required and in all cases such consent may be granted or withheld in the solo discretion of Lender. Successors and Assigns. Tho towns of this Guaranty Shall be binding upon Guarantor, and upon Guar&ntor'B heirs, personal ropresentgtives, Successors, and assigns, and shall be enforceable by Lender and its successors and assigns. DEFAULT INTEREST RATE In the event of default for which lender does not sccelorato the Loan, Including the failure of Borrower to provide the financial StetemAnts as required hereunder or under the Loan Agreement, iho appl(caDle Interest rate on the Loan, fo- s period beg(nning three (3) days aher written notice of such default and ending upon the curing of said noticed default, shall increase one quarter of ono percent (.25%) for the first thirty (30) days of said default and Increase an addftional one quarter of one percent (.25%) during each thirty (30) day period hhereaher during which the noticed defauk continues, Such default interest rate shall apply to the outstanding principal balance of the Loan. Upon the curing of the noticed default, the interest rate on the Loan shall revert to the Inltlally agreed-upon interest rate effecWe on the date on which de}cult is cured. FINANCIAL STATEMENTS. Furnish Lander with, as soon as available, but in no event later than one hundred twenty (120) days after the end of each fecal year, Guarantor's personal flnanclal Statement and federal income tax return. All financial reports required to be provided under this Agreement shall be prepared in accordance with generally accepted accounting principles, applied on consistent basis, and Corti}ied by Guarantor as being true end correct. DEFINI710NS. The following capitalized words and terms shalt have the following meanings when used in this Guaranty. Unless specrfically stated ~ the contrary, pll references to dollar amounts shall mean amounts in (awful money of the United States of America. Wads and terms used in the singular shaft include the plural, and the plural shall include the singular, as the context may require. Words and forms not otherwise defined in this Guaranty shall have the meanings attributed to such terms rtt the Uniform CommerClai Code: Borrower. The word 'Borrower" means DBL, s Ponnsylvanla LJmited partnership and includes all co-signers and co-makers signing the Note. Guarantor. The word "Guarantor" means each and every person or entity signing this Guaranty, Including wthout limitation Spankey'S Auto Sales. Guaranty. The word "Guaranty" means the guaranty from Guarantor to Lender, including without limitation a guaranty of all Or part of the Note. Indebtedness. The word "indebtedness" means Borrower's Indebtedness to Lender as more paNcularly described in this Guaranty. Lender. The woM "Lender' means PENNSYLVANIA STATE BANK, its successors and assigns. Note. The word "Note" means the promissory note dated February 11, 2004, In the original principal amount of 5379,000.00 from Borrower w Lender, togeuter with all renewals of, extensbns of, modifications of, rofinancings of, Consolidations of, and substihrtlons for the promissory note Or agreement. Related Documents. The words "Related Document;" mean all promissory notes, credit agreements, loan agreements, onvlronmental agreemenfv, guararttles, security agteements, mortgages, deeds of trust, security deeds, Collateral mortgages, and all other instruments, . agrsern9nts and documents, whether now Or hereafter existing, executed In Connection with the Indebtedness. COAiFESSlQN , OF dCIDGMENT. GUARANTOR HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT 1N THE COMMONWEALTH OF PENNSYLVANIA, OR ELSEWHERE. TO APPEAR AT ANY TIME FOR GUARANTOR AFTEA~Tt'IE AMOUNTS HEREUNDER BECOME DUE AND WITH pR WITHOUT COMPLAINT FILED, CONFESS OR ENTER JUDGMENT AGAINST GUARANTOR FOR THE ENTIRE PRINCIPAL BALANCE OF THIS GUARANTY AND ALL ACCRUED INTEREST, LATE CHARGES AND ANY AND ALL AMOUNTS EX>aENDED OR ADVANCED BY LENDER RELATING TO ANY COLLATERAL SECURING THE INDEBTEDNESS, TOGETHER WITH COSTS OF SUIT, 'AND AN ATTORNEY'S COMMISSION OF TEN PERC>;NT (10%) OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED INT>=REST FJR' COLLECTION, BUT IN ANY EVENT NOT LESS THAN FIVE HUNDRED DOLLARS (5500) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EY"ECU•TIONS MAY ISSUE IMMEDIATELY; AND FOR SO DOING, THIS GUARANTY OR A COPY OF THIS GUARANTY VERIFIED 8Y AFFIDAVIT Sk~ALL' 8E' SUFFICIENT WARRANT. THE AUTHORITY GRANTED IN THIS GUARAIJI'Y TO CONFESS JUDGMENT AGAINST GUARANTOR SHALL NOT BE E7CHAUSTED BY ANY EXERCISE OF THAT AUTHORITY, BUT SHALL CONTINUE FROM TIME 70 TIME AND AT ALL TIMES UNTIL PAYMENT IN. FULI OF ALL AMOUNTS DI,JE UNDER THIS GUARANTY. GUARANTOR HEREBY WAIVES ANY RIGHT GUARANTOR MAY HAVE TO NOTICE OR.70.A.HEAFtING'll~(;CONNECI'ION.WtTH ANY SUCH CONFESSION OF JUDGMENT AND STATES THAT EITHER A REPRESENTATNE OF LENDER SPECIFICALiY CAt~EU THIS. CONFESSION OF JUDGMENT PROVISION TO GUARANTOR'S ATTENTION OR GUARANTOR HAS BEEN REPRESEN'TED~.BY.INDERENDENF~LEGAC• COUNSEL, EACH UNDERS1fiNED~ GUARANTOR ACKNOWLEDGES HAVING READ•ALL THE PROVISIONS OF THIS GUARANTY AND AGREES 70 IT'S TERMS. 1N ADDffION, EACH GUARANTOR UNDERSTANDS THAT THIS GUARANTY IS EFFECTIVE UPON GUARANTOR'S EXECUTION AND DELIVERY OF THIS GUARANTY TO LENDER AND THAT THE GUARANTY WILL CONTINUE UNTIU TERMINATED IN THE MANNER SET FORTH IN THE SECTION TITLED "DURATION OF GUARANTY". NO FORMAL ACCEPTANCE f3Y LENDER IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE THIS GUARANTY IS DATED FEBRUARY 11, 2004. THIS GUARANTY !S GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS GUARANTY IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. GUARANTOR: SPANKEY'S ~ gq~S :... . .. .. .. Donald B. Leggett MAC'-24-2007 11:15 COMMERCIAL LOAN DOCUMENTA 7177354764 P.017 Loan No: 66000076 COMMERCIAL GUARANTY (Continued) Page 4 • TRUST ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA ~ ~/~ )SS COUN7V OF ~ W-11~V ) ~' ~~ i On this, the '' day of ~~! vl. 20 ~, bcforo me _ • the undersigi Notary Public; rsonally sppeared•Donald B. Loggoty o ~ n'keys Auto ales, who acknowledged himself or hersolf to be tho ,,.., ~,__ _ _ _ _ _ _ of Spankey's Auto ShceS, of a trust, and that ho or she as ~sut:h of Spankey's Auto Sales, being authorized to do so, executed the foregoi instrume-~{or the purposes therein contained by signing the namo of tho trust by himself or herselt as ,_ _,,, of Spankoy's /~Ut~Saley/ In witness whereof, l hereunto set my hand and official seal. 1EANEiTE~L FIGDY NOTARY PUBLIC MECNANICSBURG BOR6.,.CUMBERlANO CO. MY COMMISSION ExPIRESJULY30 2006 Notary Publity~nd for the State of • ''max n+o ~..rr, w. • ^^~ uw. ~.+.,i nwr r~sq w. ia~r. i7oa N AOM, IWw~a . M MaLA.OIW WGCKrI~.Fti' TQy7A PHGww,l~ •~• MAY-24-2007 11:17 COMMERCIAL LOAN DOCUMENTA 717?354764 P.026 DISCLO~" !RE FOR CONFESSION OF ''~IDGMENT ... ....._ ......... ....:Mk...:~, . .w._ .... _ .._.... w,.~.._....._ .................................. ..........~ ....... ._. ...... ....w.......... _ ._.. . .. ~ ..................-...........-n. ...,,. ... ..: .. :. x,~, :..:: "?oar=~l~,~..w ~~t:~s~lF~-=-:::~: :~~aacot~izi-- - E . ...-.........-...w .. ..~~~... . . -..... : 7. . » . . . . . . . . . . . . . . . . J~~yy,/~y__ -=~'G .....tea w..,,...r......«.........- ......~......... ~~. ` ~: I~ ~yr~,{'n .. l~.i/1T.~4i'.... - - References in the shaded area are for Lendor's use only and do not limit the applicability of this document to any particular loan or itom. Any item shove containing ""'" has been omitted due to toxt IenAth Ilmltations. 801TOW0T: DBL, a Denrtsytvania Umlted Partnorahlp (TIN: Lender: PENNSYLVANIA STATE BANK 25-1848185) West Hanovor Financial Center 701 E Locust Street 7040 Jonestown Road Mechanicsburg, PA 17055 Harrisburg, PA 17112.9834 (71 ~ 920-9900 A(}Eant: Spankoy's Auto Sales (TIN: 23-2131898) 701 E Locust Sheet Mechanicsburg, PA 17055 DISCLOSURE FOR CONFESSION OF JUDGMENT AFFIANT IS.E)CECUTING, THIS --~~ DAY OF ~',~~y_ ,,, , 20 os/. A GUARANTY OF A DROMISSORY NOTE FO 5373.000.00 OBLIGATING AFFlANT TO REPAY THAT AMOUNT. ~ A. REPTANT UNDERSTANDS THAT THE GUARANTY CONTAINS A CONFESSION OF JUDGMENT PROVISION THAT WOULD PERMIT LENDER TO ENTER JUDGMENT AGAINST AFFWNT IN COURT, AFTER A DEFAULT ON THE GUARANTY, WITHOUT ADVANCE NOTICE TO AFFlANT AND WITy0U7 OFFERING REPTANT AN OPPORTUNITY TO DEFEND AGAINST THE ENTRY OF JUDGMENT. IN EXECUTING THE GUARANTY, BEING FULLY AWARE OF AFFIANT'S RIGHTS TO ADVANCE NOTICE AND TO A HEARING TO CONTEST THE VALIDITY OF ANV JUDGMENT OR OTHER CLAIM$ THAT LENDER MAY ASSERT AGAINST AFFlANT UNDER THE GUARANTY AFFlANT IS KNOWINGLY, INTELLIGENTLY, AND VOLUNTARILY WAIVING THESE RIGHTS, INCLUDING ANY RIGHT TO ADVANCE NOTICE OF THE ENTRY OF JUDGMENT, AND AFFlANT EXPRESSLY AGREES AND CONSENTS TO LENDER'S ENTERING JUDGMENT AGAINST REPTANT BY CONFESSION AS PROVIDED FOR IN THE CONFESSION OGMENT PROVISION. INITIALS: "':~:;:?::~~~~•~•.•.•~,•'~~•~''••."'•~~~^='; 8. gFF1ANT FURTHER UNDERSTANDS THAT IN ADDITION TO GMNG LENDER THE RIGHT 70 ENTER JUDGMENT AGAINST REPTANT WITHOUT ADVANCE NOTICE OR A HEARING, THE CONFESSION OF JUDGMENT pROVISION IN THE GUARANTY ALSO CONTAINS LANGUAGE THAT WOULD PERMIT LENDER. AFTER ENTRY OF JUDGMENT, AGAIN WITHOUT EITHER ADVANCE NOTICE OR A HEARING, TO EXECUTE ON THE JUDGMENT BY FORECLOSING UPON, ATTACHING, LEVYING ON, TAILING POSSESSION OF OR OTHERWISE SEIZING AFFIANT'S PROPERTY. IN RILL OR DART44L PAYMENT OF THE JUDGMENT. IN EXECUTING THE GUARANTY, BEING FULLY AWARE OF AFFIANTS RIGHTS TO ADVANCE NOTICE AND A HEARING AFTER JUDGMENT IS ENTERED AND BEFORE EXECUTION ON THE JUDGMENT, REPTANT IS KNOWINGLY, INTELLIGENTLY AND VOLUNTARILY WAIVING THESE RIGHTS, AND AFFlANT EXPRESSLY AGREES AND CONSENTS TO LENDER'S IMMEDIATELY EXECUTING ON THE JUDGMENT, IN ANY MANNER PERMITTED B~Y APPLICABLE STATE AND FEDERAL LAW, OUT GMNG AFFlANT ANY ADVANCE NOTICE .~:..... INITIALS: - •••: C. AFTER HAVING READ AND DETERMINED WHICH pF THE FOLLOWING STATEMENTS ARE APPLICABLE, AND BY PLACING AFFlANT'S INITIALS NEXT TO EACH STATEMENT WHICH APPLIES, AFFlANT REPRESENTS THAT: INTTUILS _. _~tiG®T. REPTANT WAS REPRESENTED BY AFF1gNT'S OWN INDEPENDENT LEGAL COUNSEL IN CONNECTION WITH THE GUARANTY. 2 A REPRESENTATNE OF LENDER SPECIFlCALLY CALLED THE CONFESSION OF JUDGMENT PROVISION IN 7ME GUARANTY TO AFFlANT'S ATTENTION. D. AFFlANT CERTIFIES THAT AFFIANTS ANNUAL INCOME EXCEEDS 510,000; THAT THE BLANKS IN THIS DISCLOSURE WERE FlLLED IN WHEN REPTANT INITIALED AND SIGNED fT; AND THAT REPTANT RECEIVED A CORY AT THE TIME OF SIGNING. TOTAL P.026 rk _Prog frgUrit,~SCfL"Ct1S , `.. ~':' *- ,,~ . ~ : :~ r.. .. .,~ "'~, '~~, ,._'" r. ''~a.~`' ~„,t *f .. ~, NO'[E? ~(1gUlf`~ _ Next Di ~?~ B+~SIC Ii{O~ ~8~ idaintainab[e Field' Note number 65&BBO~ 8fl G" BI Shortname ~~ ~ D9L' ~ "~'~~ ~'"`` ~ '' ~'` , MEMQ ACTIVE M Customer` Data '" ' ~ > Balance Data....~..,.:..,,,..,..,.~... ~~ `12~-~ . ~ !`~ufe amount ~ ~~,~~~~ QR fl PEF~SPf.~'AFIIR LiHIiEB PRf3Tt~PSF1IP Zt3i E LOCUST ST t Pnnc~palbalance ~,~.~ h~t~IANICSBt~~ PR 17~i Interestbnlance ~ ~,~ Pj0 5-25-87 338,711.98",~ ~ a y A~railfordis}a ~,~ ~' Cuntact,Trtte ~ Interest Data ~ TouclD 25-13981 Int rate 6.88(B8 `Home phone _ 0[3-[?F3B-E19iBi9 Daffy inttador 5b.414386 Business phcna Og-fig- Interest paid YTD , S, 761.99°, 'Officer <747 3 ~ ~ Next Payment Data Dates Next due date n-15-r]' PJote dste Last renewed 2-11-84 ~ Nextpmi amount 2.692.54 Maturity date ;, 2-15-~4 Totalpastd~eamt ',oe Lest active 5-21-a7~ Soid Data - Lastpaid installment ` ~ 5 t5-0; Percentaye sold. , ,OOiD81. " ~ Interestpsi~-fo dste ~ 5-21-07 - ~ ~~ z ;~, ~,. Tot.rl sold ~ ~ ~ ~ °~AB~ , 5/25J20O' i QPfl0EV083F' LMBROUME t35?5l ' ~ ~0-0785-1~'~ ~` `q.07~ 5g F'~,t VERIFICATION I, DAVID W. PREVOST, Vice-President/Special Assets Officer, of PENNSYLVANIA STATE BANK, Division of BLC BANK, N.A., verify that the statements made in the aforegoing document are true and correct. I understand that false statements herein are made subject to the penalties of 18 Pa. C. S. §4904, relating to unsworn falsification to authorities. PENNSYLVANIA STATE BANK, Division of BLC B K, N.A. ~~ i~' David W. Prevost Vice-President/Special Assets Officer Dated: ~ n~ ~7 ~ ~ ~ ~ ~ ~ ~' ~ 'Zi t' { ~ 1t ~. ;~- ,C' 4";. .YT' v "'L N Q d '~ LJ d ~,7 ~.+.~ W '~ -~ 'V ~1 PENNSYLVANIA STATE BANK, Division of BLC BANK, N.A. Plaintiff v. SPANKEY'S AUTO SALES, INC. :CIVIL DIVISION -LAW trading and doing business as SPANKEY' S AUTO SALES Defendant :CONFESSED JUDGMENT PLAINTIFF'S AFFIDAVIT/AVERMENT CONFESSION OF JUDGMENT FOR MONEY (x) Pursuant to Pa. R.C.P. No. 2951(1)(2)(ii), Icertify that this judgment is not being entered by confession against a natural person in connection with a consumer credit transaction. (a) A consumer credit transaction means a credit transaction in which the party to whom credit is offered or extended is a natural person and the money, property or services which are the subject of the transaction are primarily for personal, family or household purposes. CONFESSION OF JUDGMENT FOR CONFESSION OF REAL PROPERTY () Pursuant to Pa. R.C.P. No. 2971(1)(1), I certify that this judgment is not being entered against a natural person in connection with a residential lease. ••••••••••••••• The above certification is made subject to the penalties of 18 Pa. . §4904 rel to unsworn falsification to authorities. Dated: May 29, 2007 Robert D. Kodak, Esquire Attorney for Plaintiff I.D. No. 18041 Address: Kodak & Imblum, P.C. 407 North Front Street Post Office Box 11848 Harrisburg, PA 17108-1848 (717) 238-7152 Fax: (717) 238-7158 1N THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA l C7 ^' a ~ -~ . tz ~ ~- -.c rn Ur *- W [ _ - j ~ W ~ C71 ^G PENNSYLVANIA STATE BANK, Division of BLC BANK, N.A. Plaintiff v. SPANKEY'S AUTO SALES, INC. trading and doing business as SPANKEY'S AUTO SALES Defendant IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA NO. 4'1', 3~S' l.lu~~,~`~i~,y,~ . - l CIVIL DIVISION -LAW CONFESSED JUDGMENT NOTICE UNDER RULE 2958.1 OF JUDGMENT AND EXECUTION THEREON NOTICE OF DEFENDANT'S RIGHTS TO: SPANKEY'S AUTO SALES, INC. t/d/b/a SPANKEY'S AUTO SALES, DEFENDANT A Judgment in the amount of $372,583.96 has been entered against you and in favor of Plaintiff without a prior notice or hearing based on a Confession of Judgment contained in a written agreement or other paper allegedly signed by you. The Sheriff may take your money or other property to pay the Judgment at any time after thirty (30) days after the date on which this notice is served on you. You may have legal rights to defeat the Judgment or to prevent your money or property from being taken. YOU MUST FILE A PETITION SEEKING RELIEF FROM THE JUDGMENT AND PRESENT IT TO A JUDGE WITHIN THIRTY (30) DAYS AFTER THE DATE ON WHICH THIS NOTICE IS SERVED ON YOU OR YOU MAY LOSE YOUR RIGHTS. YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU DO NOT HAVE A LAWYER, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW. THIS OFFICE CAN PROVIDE YOU WITH INFORMATION ABOUT HIRING A LAWYER. IF YOU CANNOT AFFORD TO HIRE A LAWYER, THIS OFFICE MAY BE ABLE TO PROVIDE YOU WITH INFORMATION ABOUT AGENCIES THAT MAY OFFER LEGAL SERVICES TO ELIGIBLE PERSONS AT A REDUCE FEE OR NOT FEE. CUMBERLAND COUNTY BAR ASSOCIATION TWO LIBERTY AVENUE CARLISLE PA 17013 (717) 249-3166 ROBERT D. KODAK, ESQUIRE POST OFFICE BOX 11848 HARRISBURG, PA 17108-1848 (717) 238-7152 ATTORNEY FOR PLAINTIFF ev ~ b '~Q ~,I i' ~ ~ (~ .G' ~ .. .. Zy , r ~ ~ 3 ~ ~ ~ ( j CT! +.~ '"C PENNSYLVANIA STATE BANK, Division of BLC BANK, N.A. Plaintiff v. SPANKEY'S AUTO SALES, INC. trading and doing business as SPANKEY' S AUTO SALES Defendant IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION -LAW CONFESSED JUDGMENT TO: SPANKEY'S AUTO SALES, INC. t/d/b/a SPANKEY'S AUTO SALES, Defendant You are hereby notified that on ~.~ ~C~ , 2007, Judgment by confession was entered against you in the sum of $372,583.96 in the above-cap~oned case. _ /' DATE: 2007 YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. IF YOU D6 NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP. I hereby certify that the following is the address of the Defendant(s) stated in the Certificate of Residence: 701 EAST LOCUST STREET MECHANICSBURG, PA 17055 Robert D. Kodak, Attorney for Plaintiff CUMBERLAND COUNTY BAR ASSOCIATION TWO LIBERTY AVENUE CARLISLE PA 17013 (717) 249-3166 ~ ~ N c~ ~ 'tl IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNS~V~fI A~ CIVIL DIVISION +°i ° ~~ ~a r-- -i -~ r o PENNSYLVANIA STATE BANK, N0.2007-3235 ~ °' ~' Division of BLC BANK, N.A., now by merger ~ ~°.~ ~ PNC BANK, NATIONAL ASSOCIATION, ~~ c;c~ Plaintiff ~' ~ ~ ~~ --s --< w `~ ~ --~ v. SPANKEY'S AUTO SALES, INC. trading and doing business as SPANKEY'S AUTO SALES Defendants CIVIL ACTION -LAW PARTIAL RELEASE OF JUDGMENT LIEN WHEREAS, on May 30, 2007, Judgment was entered in favor of Plaintiff and against Defendants in the Court of Common Pleas of Cumberland County at No. 2007-3235; and WHEREAS, Defendants own an interest in that certain real property known as 603 East Locust Street, 601, 602, 701 and 705 East Locust Street and 607 East Locust Street, Hampden Township, Cumberland County, Pennsylvania, as more particularly described on Exhibit "A" attached hereto and made a part hereof (the "Property"); and WHEREAS, the Defendants have requested the Plaintiff to release the Property from the lien of the Judgment, which Property constitutes a portion, but not all, of the Property that is subject to the lien of the Judgment. NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, and intending to be legally bound, Plaintiff, PNC Bank, National Association, for itself and its successors and assigns, agrees that it will not attach or levy upon, sell or dispose of, or claim or demand the Property as a result of the Judgment, and further releases the lien of the Judgment only on the Property; provided, however, that neither this Partial Release nor anything herein contained invalidates, diminishes, alters, or otherwise affects the Judgment or the lien or security of the Judgment upon or against any other property of Defendants or either of them in Cumberland County, Pennsylvania, or elsewhere; and provided further that neither this Partial Release nor anything contained herein is or should be construed to be or to evidence satisfaction or discharge of the debt of the Defendants to the Plaintiff,. PNC Bank, National Association. ~S.o~ c~CL ~~- e~~gs~~y ~ ~~~ IN WITNESS WHEREOF, the Undersigned executed this Partial Release this ~ day of October, 2010. PNC BANK, NATIONAL ASSOCIATION By: _ Brett A. Bertoli Vice President COMMONWEALTH OF PENNSYLVANIA COUNTY OF LANCASTER SS.. On this, the ~ day of October, 2010, before me, the undersigned officer, personally appeared Brett A. Bertoli, who acknowledged himself to be the Vice President of PNC Bank, National Association, who being authorized to do so, executed the foregoing instrument for the purposes therein contained as such officer. IN WITNESS WHEREOF, I hereunto set my hand and notarial seal the day and year aforesaid.. ~~ , ~_c_~._ ~, ,~.~.~ Notary Public My Commission Expires: G~/,31~ao/~ COMMONWEALTH OF PENNSYLVANIA Notarial Seal Connie Bbder, Notary Publ~ Manhelm Twp., Lancaster Courriy My Commissbn Expros ,fin. 31,2012 Member, nsyNeWa Assodatbn of Notartes 1 EXHIBIT "A" Tract No. 1 The property known as 607 East Locust Street, Lots 36 through 41, identified as Tax Parcel Nos. 10-23-0563-010 and 10-23-0563-011, located in Hampden Township, Cumberland. County, Pennsylvania. BEING THE SAME PREMISES which were granted and conveyed to Spankey's Auto Sales, Inc., Mortgagor herein, by Deed dated October 3; 1985, and recorded in the Office of the Recorder of Deeds for Cumberland County, Pennsylvania, on October 16, 1985, in Record Book 31N, page 774. Tract No. 2 The property known as 603 East Locust Street, Northeast corner of Locust and Norway Streets Lots 43 through 45, and Northern line of Locust Street Lot 42, identified as Tax Parcel No. 10- 23-0563-009, located in Hampden Township, Cumberland County, Pennsylvania. BEING THE SAME PREMISES which were granted and conveyed to Spankey's Auto Sales, Inc., Mortgagor herein, by Deed dated February 5, 1985, and recorded in the Office of the Recorder of Deeds for Cumberland County, Pennsylvania, on February 6, 1985, in Record Book 31 C, page 507. Tract No. 3 The property known as 601, 602, 701 and 705 East Locust Street, identified as Lots 25 through 35, Tax Parcel No. 10-23-0563-012, located in Hampden Township, Cumberland County, Pennsylvania. BEING THE SAME PREMISES which were granted and conveyed to Spankey's Auto Sales, Inc., Mortgagor herein, by Deed dated October 31, 1984, and recorded in the Office of the Recorder of Deeds for Cumberland County, Pennsylvania, on November 16, 1985, in Record Book 30Z, page 482.