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HomeMy WebLinkAbout07-30-07 INRE: IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA ORPHANS' COURT DIVISION WILLIAM H. ALDERDICE, Deceased NO. 21-07-0551 -, CLAIM () =:::q ~ ........., --1 -,-- C) - =',~ ~~l (~. c-. r- e,.) c::> t.:.~';") ......... TO THE CLERK OF THE ORPHANS' COURT DIVISION: , ....-"., Commerce hereby asserts a claim against the decedent for indebtedne~s eviden~ by the following: (a) a promissory note secured by a mortgage on property located at 2131 Newville Road, Carlisle, Pennsylvania 17013 (the "Real Property"), both of which are dated March 3, 2006 ("Loan A"); and (b) an open-end mortgage and security agreement on the Real Property dated March 4,2006 securing a revolving line of credit ("Loan B"). Copies of the Mortgages securing both Loan A and Loan B were recorded in the Cumberland County Recorder of Deeds office on March 22,2007. True and correct copies of these documents are attached hereto and made a part hereof. As of July 18, 2007 the payoff for Loan A is Nine Thousand One Hundred Seventy Dollars and Thirty-Six Cents ($9,170.36) and for Loan B is Fourteen Thousand Three Hundred Eighty-Eight Dollars and Forty-Five Cents ($14,388.45). Interest, attorneys' fees and costs continue to accrue thereafter. Payment is demanded in full. This claim is filed pursuant to the provisions of20 Pa. C.S.A. ~3532. The Decedent, who resided at 2131 Newville Road, Carlisle, Pennsylvania 17013, died on May 1, 2007. -n (.,) , I ~ Written notice of this claim was given to Roger B. Irwin, Esquire, 60 West Pomfret Street, Carlisle, Pennsylvania 17013 as the attorney of record for the personal representative. Such written notice was given on July 27, 2007. ~.)V~ Melan e ~ anderau, Esquire Attorney LD. 203167 METTE, EVANS & WOODSIDE 3401 North Front Street P.O. Box 5950 Harrisburg, PA 17110-0950 (717) 232-5000 Attorneys for Commerce Bank/Harrisburg, N.A. Dated: July 30, 2007 CERTIFICATE OF SERVICE I certify that I am this day serving a copy of the foregoing claim upon the person indicated below, by depositing a copy thereof in the United States Mail at Harrisburg, Pennsylvania, with first-class postage, prepaid, addressed as follows: Roger B. Irwin, Esquire 60 West Pomfret Street Carlisle, P A 17013 !ii~ )1f~ Melan L. Vanderau, Esquire Attorney for Commerce Bank/Harrisburg, N.A. Dated: July 30, 2007 475634vl I'/(?, 0 j e "r- ~'. - r- Uf' 'JC ~) ::;, E C (j ;:,', DE;:: CU,l.:DEn.L~\l U ,'. ," " F'..\ ions r'iRR 22 Pr1 1 39 Parcel Identification Number: 46-07-0477-033 RECORDATION REQUESTED BY: COMMERCE BANKIHARRISBURG N.A. CARLISLE 65 ASHLAND A VENUE CARLISLE. PA 17013 WHEN RECORDED MAIL TO: ' COMMERCE BANK/HARRISBURG N.A. LOAN SERVICING 100 SENATE AVENUE CAMP HILL. PA 17011 SEND TAX NOTICES TO: COMMERCE BANK/HARRISBURG N.A. LOAN SERVICING 100 SENATE AVENUE CAMP HilL. PA 17011 FOR RECORDER'S USE ONLY OPEN - END MORTGAGE THIS MORTGAGE SECURES FUTURE ADVANCES Amount Secured Hereby: $65,000.00 THIS MORTGAGE dated March 4, 2006, is made and executed between William H. Alderdice, whose address Is 2131 Newville Road, Carlisle, PA 17013 (referred to below as "Grantor") and COMMERCE BANK/HARRISBURG N.A.. whose address is 65 ASHLAND AVENUE, CARLISLE, PA 17013 (referred to below as "Lender"). GRANT OF MORTGAGE. For valuable consideration. Grantor grants, bargains, sells, conveys. assigns, transfers. releases, confirms and mortgages to Lender all of Grantor's right. title, and Interest in and to the following described real property. together with all existing or subsequently erected or affixed buildings. improvements and fixtures; aU streets, lanes, alleys, passages. and ways; all easements, rights of way, all liberties. privileges. tenements, hereditaments. and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders with respect 1hereto; all water. water rights. watercourses and ditch rights rincluding stock in utilities with ditch or irrigation rights); and all other rights. royalties, and profits relating to the real propeny, including without limitation all minerals, oil, gas, geothermal and similar matters, (the "Real Property") located in Cumberland County, Commonwealth of Pennsylvania: Real property located at 2131 Newville Road, Carlisle, West Pennsboro Township, Cumberland County, Pennsylvania. as recorded in deed book 300, page 215, in the Office of the Recorder of Deeds of Cumberland County. The Real Property or its address is commonly known as 2131 Newville Road. Carlisle, PA 17013. The Real Property parcel identification number is 46-07-0477-033. REVOLVING LINE OF CREDIT. This Mortgage secures the Indebtedness including, without limitation, a revolving line of credit. which obligates lender to meke advences to Grantor unless Grantor fails to comply with all the terms of the Credit Agreement. Such advances may be made, repaid, and ramlde from time to time, subject to the limitation that the total outstendlng balancl owing at anyone time. not including finance chargls on such balance at a fixed Dr variable rate or sum 8S provided in the Credit Agreement, any temporary overages. other charges. and any amounts expended Dr advenced as provided In this paragraph, shali not exceed the Credit Umlt a. provided in the Credit Agreemant. It Is the Intention of Grantor and Lendar that this Mortgage secures the balance outstanding under the Credit Agreemant from time to tima from zero up to the Credit Limit as provided in the Credit Agreement and any intermadiate balance, plus interest. THIS MORTGAGE. INCLUOING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND BI{ I 9 4 L} PG 0 5 7 8 * ) Loan No: 930036207 MORTGAGE (Continued) Page 2 PERSONAL PROPERTY. IS GIVEN TO SECURE IA) PAYMENT OF THE INDEBTEDNESS AND IB) PERFORMANCE OF EACH OF GRANTOR'S AGREEMENTS AND OBLIGATIONS UNDER THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage. Grantor shall pay to lender all amounts secured by this Mortgage as they become due and shall strictly perform aU of Grantor's obligations under this Mortgage. POSSESSION AND MAINTENANCE OF THE PROPERTY. Grantor agrees that Grantor's possession and use of the Property shall be governed by the following provisions: Possession lmd Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and control ot the Property; 121 use, operate or manage the Property; and 131 colleot the Rents from the Property, Duty 10 Maintain. Grantor shaff maintain the Property in good condition and promptly perform all repairs. replacements. nnd maintenance necessary '0 preserve its value. Hazardous Substances. Grantor represents and warrants that the ProporlY never has been, and nevor will be so long as this Mongage remains a lien on the Property, used for the generation. manutacture, storage, treatment, disposal, release or threatened release of any Hazardous Substance in violation 01 any Environmental Laws. Grantor authorizes lender and its agents to entor upon the Property to make such inspections and tests as lender may deem appropriate 10 determine compliance of the Property with this section of the Mortgage. Grantor hereby III releases and waives any future claims against lender for indemnity or contribU1ion in the event Grantor becDmes liable for clcllnup Dr other costs under any such laws. and 12' agrees to indemnify and hold harmless Lender against any and all clnims and losses resulting from II breach of this paragraph 01 the Mortgage. This obligation to indemnify shall survive the payment 01 the Indebtedness and the satisfaction oi this Mortgage. DUE ON SALE. CONSENT BY LENDER. Lender may, at lender's option, declare immediately due and payable all Sums secured by this Mortgage upon the sale or lram;ter, without Lender's prior written consent, 01 aU or any part of the Real Property, or any inl,erest in the Real Property. A .sale or transfer" means the conveyance of Real Property or any right. title or interest in the Reol Property; whether legal. beneficial or equitable: whether voluntary or involuntary; whether by outrigf1t sale, deed. installment sale contract. land contract, contract for deed. leasehold interest wirh a term greater then three (3) years, lease-option contract, or by sale. assignment, or transfer of any beneficial interest in or to any land trust holding title. to the Real Property. or by any other method of conveyance of an interest in the Real Property. However, this option shall not be exercised by Lender if such exercise is prohibited by federal lAW or by Pennsylvania law. . TAXES AND LfENS. The following provisions relating to the taxes and liens on the Property are part of this Mortgage: Payment. Grantor shall pay when due land in all events plior to delinquency, all taxes. payroll taxes. special taxes. assessments, Winer charges and sower service charges levied against or on account of the Property, and shalt pay when due all c:lnims for work done 'on or for services rendered or material furnished to the Property. Grantor shall maintain the Property free of any lil::!ns having priority over or equal to the interest of Lender under this Mortgage, ex.cept for those liens specifically agreed 10 in writing by Lender. and except for the lien of taxes and assessments not due and except as otherwise provided in this Mortgage. PROPERTY DAMAGE INSURANCE, The following proviSions rela''''g 10 insuring the Property are a part of thiS Mortgage: Maintenance of Insurance. Grantor shall procure And maintain policies of fira insurance with stiJndard extended coverage endorsements on a replacement basis tor the full insurable value covering all Improvements on the Real Property in an amount surticient to avoid application of any coinsurance clause. and wit'h cl standard mortgagee clause in favor 0# Lender. Policies shall be written by slIch insurance companies and in such form as may be reasonably acceptable to Lanciar. Grantor shall deliver to Lender certiliciltes 01 coverage from each insurer containing a stipulation that coverage will not be cancelled or diminished without a minimum of ten (101 days' prior written notice to lender and not containing any disclaimer of the insurer's liability for failure to give such notice. Each insuri'lnce policy also shall include an endorsement providing that coverage in favor 01 Lender will not be impaired in any way by any act, omission or default of Grantor or any other person. Should the Real Property be located in an area designated by the Director of the Federal Emergency Management Agency as a special flood hazard area, Granter agrees to obtain and maintain Federal Flood Insurance, if available, within 45 days after notice is given by lender that the Property is located in a special flood hazard area, tor the maximum amount 0' your credit line and the full unpaid principal balance of any prior liens on the property securing the loan, up to the maximum policy limits set under the National Flood Insurance Program, or as otherwise reqUired by Lender, and to maintain such insurance for the term of the loan. Ta. and Insurance Reserves. Upon request by Lender and subject to applicable law. Grantor shall pay to Lender each month on the day payments are due under the Credit Agreement until the Credit Agreement is paId in full, a sum ("Escrow Funds"} equal to one-rwelfth of (al all annual taxes. special taxes. assessments, water charges and BI\ I "l}~, PG 0 5 7 9 Loan No: 930036207 MORTGAGE (Continued) Page 3 sewer servk:e charges levied against or on account of the Property and Ib) annual premiums for policies of fire insurance with all risks standard extended coverage reqUIred under this Mortgage I"Escrow Items"). Lender may estimate the amount of Escrow Funds On the basis of current dala and a reasonable estimate of future Escrow Items. All Escrow Funds shall be held by Lender and applied to pay the Escrow Items when due. Lender will not charge for hOlding and applying the Escrow Funds, analYZIng the account, or verifying the Escrow Items, unless Lender pays Grantor interest on the Escrow Funds and applicable law permits Lender to make such a charge. Grantor and Lender may agree in writing that interest shall be paid on the Escrow Funds. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Grantor any interest or earnings on the Escrow Funds. The Escrow Funds are pledged as additional security lor the amounts secured by this Mortgege. If the amount of Ihe Escrow Funds held by Lender. together with the future monthly payments of Escrow Funds prior to the due dates of the Escrow Ilems, shall exceed the amount required to pay the Escrow Items when due, the excess shall be, at Grantor option, either promptly repaid to Grantor or credited 10 Grantor in scheduled payments of Escrow Funds. If the amount of the Escrow Funds held by Lender is not sulficient to pay the Escrow Items when due, Grantor shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. Lender's Expenditures. If Grantor fails 111 to keep Ihe Property free of all taxes, liens, security interests, encumbrances, and other claims. 121 to provide any required insurance on the Property, or 131 to make repairs to the Property then Lender may do so. II any action or proceeding is commenced that Would materially affect lender's interests in the Property. then Lender on Grantor's bohalf may. but is not required to. take clOy action that lender believes to be appropriate to protect Lender's interests. All expenses incurred or paid by lendr-Jr for such purposes will then bear interest at tne ratc charged under the Credit Agreement from the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses wit! become a part of the Indebtedness and, at Lender's option, will IT} be payable on demand: 121 be added to the balance of the Credit Agreement and he apportioned among and be payable with any installment payments to become due dUring either la) the term of any applicable insurance policy; or (bl the rem~ining term of the Credit Agreement; Of (3) be rreoted as a balloon payment which will be due and payable at the Credit Agreement's maturity. Grantor's obfigalion to Lender for all such expenses sha" survive the entry of any mortgage foreclosure judgment. Warranty: Defense of Title. The following proviSIons relating to ownership of the Property are a part of this Mortgage: Title. Grantor warrants that; la' Grantor holds good and marketable title of record to the Property in fee simple, free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any tItle insurance policy, title report, or final title opinion issued in favor of, and accepted by, Lender in connectIon with this Mortgage. and lbl Grantor has the full right. power, and authority to execute and deliver this Mqrtgage to lender. Defense of Title. Subject to the exception in the paragraph above. Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. Full Performance. If Grantor pays all the Indebtedness when due, terminates the credit line account, and otherwise performs all the obligations imposed upon Grantor under this Mortgage, Lender shall execute and deliver to Granwr a suitable satisfaction of this Mortgage and suitable statements of termination of any financing statement on file eVIdencing Lender's security interest in the Rents and the Personal Property. Grantor will pay. jf permitted by applicable law, c1ny reasonable termination fee as determined by Lender from time to time. Events of Default. Grantor will be in default under this Mortgage it any of the follOWIng happen: 11) Grantor commits fraud or makes a material misrepresentation at any time in connection with the Credit Agreement. This can include. for example, a false statement about Grantor's income, assets, liabilities, or any other aspects of Grantor's financial condition. 12t Grantor does not meet the repayment terms 01 the Credit Agreement. (3) Grantor's action or inaction adversely affects the collateral Or Lender's rights in the coUateraL This can include, for example, failure to maintain required insurance, waste or destructive use of the dwelling, failure to pay taxes, death 01 all persons Hable on the account, transfer of title or sale of th€: dwelling. creation 01 a senior lien on the dwelling without Lender's permission, foreclosure by the holder of another lien. or the use of funds or the dwelling tor prohibited purposes. Rights and Remedies on Default, Upon the occurrence of an Event of Default and at any time thereafter, Lender, at Lender's OPtion, may exercise anyone or mqre ot the following rights and remedies, in addition to any other rights or remedies provided by law: Accelerate Indebtedness. lender 511all have lhe right at its option, after giving such notices as required by applicable law, to declare the entire Indebledness immediately due and payable. UCC Remedies, With respect to all or any part 01 the Personal Property, Lender shall have all the rigllts and 1emedies ot a secured party under the Uniform Commercial Code. Judicial Foreclosure. Lender may Oblilrn a judicial decree foreclosing Grantor's interest in all or any part Df the 81{ I 9 Ii 1_!. PG, .: 8 0 Loan No: 930036207 MORTGAGE (Continued) Page 4 Property. Nonjudicial Sale. "permitted by epplicable law, lender may (oreclose Grantor's interest in all or in any part of the Personal Property or the Real Property by non'JudiCial sale. Other Remedies. lender shell ha.ve all other rights and remedies provided in this Mortgage or the Credit Agreement or available at law or in equity. Sale of the Property. To the extent permitted by applicable law, Grantor hereby waives any and all right to have the Property marshalled. In exercising its rights and remedies, Lender shall be free to sell all or any part of the Property together or separately, in one sale or by separate sales. lender shall be entitfed to bid at any public sale on all or any portion of the Property. Election of Remedies. All of Lender's rights and remedies will be cumulative and may be exercised alone 01' together. An election by lender to choose anyone remedy will not bar lender from using any other remedy. If lender decides to spend money or to perform any of Grantor's obligations under this Mortgage. aftel Grantor's failure to do so, that decision by lender will not aflect lender's right to declare Grantor in default and to exercise Lender's remedies. Attorneys' Fees; Expense.. If Lender institutes any suit or action to enforce any of the terms of this Mortgage. lender shall be entitled to recover such sum as the court may adjudge reasonable as allornevs' fees at trial and upon any appeal. Whether or not any court action is involved. and to the extent not prohibited by law, all reasonable expenses lender incurs that in Lender's opinion are necessary at any time for the protection of its interest or the enforcement or its rights shaH become a part of the Indebtedness payable on demand and shall bear interest at the Credit Agreement rate from the date of the expenditure until repaid. Expenses covered by this paragraph include, without limitation, however subject to any limits under applicable law, lender's attorneys' fees and Lender's, legal expenses, whether or not there Is a lawsuit, including anorneys' fees and expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services, the cost of searching records, obtaining title reports (including foreclosure reports). surveyors' reports, and appraisal fees and title insurance. to the extent permitted by applicable law. Grantor also will pay any court costs. in addition to all other SUms provided by 'aw. Miscellaneous Provisions. The following miscellaneous provisions are B pan of this Mortgage: Governing law. Thla Mortgage will be govarned by federal law appllceble to lender and. to the e.tent not preempted by tedera' law. the laws ot the Commonwealth of Pennsylvania without regard to Its contlicts at law provisions. This Mortgage has been accepted by Lender in the Commonwealth of Pennsylvania. Time Is of thB Essence. Time is of the essence in the performance of this Mortgage. Definitions. The foHowing words shaH have the following meanings when used in this Mortgage: Borrower. The word "Borrower. means William H. Alderdice and includes all co-signers and co-makers signing the Credit Agreement and all their successors and assigns. Credit Agreement. The words "Credit Agreement' mean the credit agreement dated March 4, 2006. with credit limit of $65.000.00 from Grantor to lender. together with all renewals of. extensions of. modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. NOTICE TO GRANTOR: THE CREDIT AGREEMENT CONTAINS A VARIABLE INTEREST RATE. Environmental Laws. The' words "Environmental Laws. mean any and all state, federal and local statutes, regulations and ordinances relating to the protection of human hea,Jth or the environment. including without limitation the Comprehensive Environmental Response, Compensation, and Liability Act of 1980. as amended, 42 U.S.C. Section 9601, et seq. ('CERCLA "), the Superfund Amendments and Reauthorization Act of 1 986. Pub. L. No. 99.499 ("SARA"}, the Hazardous Matarials Transportation Act, 49 U.S.C. Section 1801, et seq.. the Resource Conservallon and Recovery Act, 42 U.S.C. Section 6901. et seq.. or other applicable state or federal laws, rules, or regulations adopted pursuant thereto. Event of Default. The words "Event of Default" mean any of the events of default set forth in this Mortgage in the events of default section of this Mortgage. Grantor. The word "Grantor" means William H. Alderdice. Indebtedness. The word 'Indebtedness" means all principal, interest. and other amounts, costs and expenses payable under the Credit Agreement or Related Documents, together with all renewals of. extensions of, modifications of, consolidations of and substitutions for the Credit Agreement or Related Documents and any amounts expended or advanced by lender to discharge Grantor's obligations or expenses incurred by lender to enforce Grantor's obligations under this Mortgage. together with interest on such amounts as provided in this Mortgage. The liens and security interests created pursuant to this Mortgage covering the Indebtedness Bl( I 9 4 4 PG 0 5 8 \ Loan No: 930036207 MORTGAGE (Continued) Page 5 which may be created in the future ~han relste back to the date of this Mortgage, Lender. The word "Lender" means COMMERCE BANK/HARRISBURG N.A.. its successors and assigns. The words "successors or assigns" mean any person or company that acqujres any interest in the Credit Agreement. Mortgage. The word "Mortgage" means this Mortgage between Grantor and Lender. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other srticles of personal property now or hereafter owned by Grantor. and now or hereafter anached or affixed to the Real Property; together with all accessions, parts. and additions to, all replacements of. and all substitutions for. any of such property; and together with all proceeds (including without limitation all insurance proceeds .nd r.funds of premiumsl from any sale or other disposition of the Property. Property. The word "Property" means COllectively the Real Property and the Personal PropertY. Real Property. The words "Real Property" mean the real property. interests and rights. as further described in this Mortgage. Rents. The word "Rents" means all present and future rents, revenues. income. issues. royalties. profits, and other benefits derived from the Property. GRANTOR ACKNOWLEOGES HAVfNG REAO ALL THE PROVISIONS OF THIS MORTGAGE. AND GRANTOR AGREES TO ITS TERMS. THIS MORTGAGE IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS MORTGAGE IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. GRANTOR: x ~.P-'/. ~ William H. Alderdice (Seall CERTIFICATE OF RESIDENCE I herebY' certify, th.t the precise address of the mortgagee, follows: herein is as CARLISLE. 65 ASHLAND A VENUE. CARLISLE. PA 17013 8K I 94 l} PG 0 6 8 2 loan No: 930036207 MORTGAGE (Continued) Page 6 INDIVIDUAL ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA I I SS I COUNTY OF ~/h.f:u. r-( 4.-'1 cL -;; On this.. the <Ii-/!, _ day 01_. Hff&~__. 20 -L2k_. before me__ .f /Jr7rJu' ~~~~--.!.-. the underSigned Notary Public. personally appeared William H. Alderdice. known to me (or satisfactorily provenl to be the person whose name IS subscribed to the within instrument. and acknowlodged that he or she ~xecuted the same for the purposes therein contained. In witness whereof, I hereunt.o. set m~_h~,!"d and OtflCial~..~ ." .)IUi'i#:''11 .,. i . /7 . - :.,. .~~'J,., .. NOT ARI,\l ~EAL . ..' . ...7 ~'--- . ,..~.~af~~.L" "f.""'Nt~IE S DZEZINSI<I. Nol<JIY P"t~I'.; I __& . "_'''__ "".,,,,~,,,,~"j,/'-!a. 8' r terlJnd Cnull;, I ../)/J # .:'~'.~ r6t~;'t~ ~-'IWIP H-Il OffJ _,,~,~, ~ ,: I., ") "i'i.. Notary Public in and for the Slate of -_J::!:L._____ ~~.. /t;,~ :,!), ~ >.~~r~'::::f\i~.::~,):..:::. ~J .}.~:- ':..~~ M'_ ?s "~~ ."~:i , .~ i';;d~'<S!~~,,: .,/ ~ .}f .~,: 'il~~1 }ij~ ':, "'~"'I': ~!~/::~~;':;4).. ~...tflol...'OI_......II.. \.:ronnOOJol c"'.. <I.._'l.,_.....~n."'..."...~ ''''',!~ ..... ""'h" 11__ ... " 'Wl"'......"ill._...<CN"'1,mll"c 'r"',,>>.:;;;..~ '", (.... \,; P.,\ .,; "~/ . 1 . '''_~ i~: r 0 f J) [:!:~C:. j rr',r"83 BK I ..J l! [~ Pl:: U 0 . . -'+i ~}" C') I. I ! V\ V' I,C: , 'C Parcel Identification Number: 46-07-0477-033 i~ ;~; j ~:: f. t , , X l ~: :.~ tN ~:: R ;-~ECC,.,DEr: OF UE[~f)S (;UI~~JE~~L"I~iD GeL' rr"f.. P.\ RECORDATION REQUESTED BY: COMMERCE BANK/HARRISBURG N.A. CARLISLE 65 ASHLAND AVENUE CARLISLE. PA 17013 2006 f'1flR 22 PM 1 39 WHEN RECORDED MAIL TO: COMMERCE BANK/HARRISBURG N_A. LOAN SERVICING 100 SENATE AVENUE CAMP HILL. PA 17011 SEND TAX NOTICES TO: COMMERCE BANK/HARRISBURG N.A. LOAN SERVICING 100 SENATE AVENUE CAMP Hill. PA 17011 FOR RECORDER'S USE ONLY MORTGAGE Amount Secured Hereby: $30.000.00 THIS MORTGAGE dated March 3, 2006, is made and executed between William H. Alderdice and Shizuko M. Alderdice (deceased), whose address is 2131 Newville Road, Carlisle, PA 17013 (referred to below as "Grantor") and COMMERCE BANK/HARRISBURG N.A.. whose address is 65 ASHLAND AVENUE, CARLISLE. PA 17013 (referred to below as "Lender"). GRANT OF MORTGAGE. For valuable consideration. Grantor grants. bargains. sells. conveys. assigns. transfers. releases. confirms and mortgages to lender all of Grantor's right, title, and interest in and to 1he following described real property. together with all existing or subsequently erected or affixed buildings. improvements and fixtures; all streets, lanes. allevs. passages. and ways; all easements. rights of way. all liberties, privileges. tenements, hereditaments. and appurtenances thereunto belonging or anywise made appurtenant hereafter, and the reversions and remainders with respect thereto; all water. water rights, watercourses and ditch rights !including stock in utilities with ditch or irrigation rightsl; and all other rights. royalties. and profits relating to the real property. including without limitation all minerals. oil, !las, geothermal and similer metters. (the "Real Property"llocated in Cumberland County, Commonwealth of Pennsylvania: Real property located at 2131 Newville Road, Carlisle, West Pennsboro Township, Cumberland County, Pennsylvania, as recorded in deed book 300, page 215, in the Office of the Recorder of Deeds of Cumberland County. The Real Property or its address is commonly known as 2131 N.ewville Road. Carlisle, PA 17013. The Real Property parcel identification number is 46-07-0477-033. THIS MORTGAGE. INCLUDING THE ASSIGNMENT OF RENTS AND THE SECURITY INTEREST IN THE RENTS AND PERSONAL PROPERTY. IS GIVEN TO SECURE IAI PAYMENT OF THE INDEBTEDNESS AND IBI PERFORMANCE OF ANY AND ALL OBLIGATIONS UNDER THIS MORTGAGE. THIS MORTGAGE IS GIVEN AND ACCEPTED ON THE FOLLOWING TERMS: PA YMENT AND PERFORMANCE. Except as otherwise provided in this Mortgage. Borrower .nd Grantor shall pey to Lender all indebtedness secured by this Mortgage as It becomes due. and Borrower and Grantor shall strictly perform all Borrower's and Grantor's obligations under this Mortgage. POSSESSION AND MAINTENANCE OF THE PROPERTY. Borrower and Gruntor agree that Borrower's and Grantor's possession and use of the Property shall be governed by the following provisions; Possession and Use. Until the occurrence of an Event of Default, Grantor may (1) remain in possession and Bl{ I 9 4 4 PG 0 6 8 1+ ~ Loan No: 400213356 MORTGAGE (Continued) Page 2 -~-..~-_._-_._-~-----'._,---_.__. ---.------..----.,.....-.----.-...----.- ......-..- .~_.,--------_. -----..- Ull11rol 01 the Property; 121 use. vp~r,:l(e 01 mi'tnilge the Property; and '31 collect The Rents /r(.)m the Properly. DUly to Maintain. Grantor shall maintain the PrOP~r1y ,n good condition ill1d promptly pedorm nit repairs, Icpl,-IC~n1t:mts. ;~ntl miitntl'!'niinCI;! necessaly tl,) preserve Its villue. Hazardous Substances. Gfi.1rltm represents rind ItJMfanlS thal the ProlJerty ne\l~H hus been. ami never will be so 1~;n~1 us lhls Mortgage remains a lien un Ih~ ProlJcrty, used lor lhe gt:!nf:'rcuion, manulaClure, storage. treatment, dls()o~;al. -rejt:asc or threcHt:ncf1 release of ~H"ly HaZiif(.1ouS SubStance In violation of any Environmental LElW'5. GUlntor authorizes Lender and Its agents to enter upon the Property to mak.e such inspections and tests as Lender ma..,.. dC'lilrn ttpproprrato to ltelermine comphance of the Property wIth this see-Hon 01 the Mortgage. Grantor hereby f 1 ~ rcle':iS8S and waives clny luture claIms against Lender lor indemnity Or contribution in the event Grantor becomet; liable for cleanup Of other COSts undN any sue" laws, and l2j agrees to indemnify and hold harmless LtHHler .:Igiunst any ilnd "II clillms find rosses resulw,U from a breach 01 this paragraph 01 the Mortgage. Tt1is ol.Jlig1:1tton to indemnity shall survive the pAyment 01 the Indebtedness and the satistactmn of this Mortgage. DUE ON SALE. CONSENT BY LENDER. Lender may, at Lende"s oPllon, declare Immediately due and payable al,1 sums secured by thiS Mortgage upon the sale or transfer. without Lender's pnOr written consent. 01 all or any part 01 the Real PIUPfHtv, or ClnV Interest in the Rmtl ProPt!11Y. A "sale Or trans lei " means the convoyance of Real Property or an\l' rIght. ulle or interest in U'e Reol Property; whether legal. benellcial Dr equitable; whether voluntary or Involuntary: whether by OlJtrlght s.:\le. deed. Installment sale contract. land contract, contract lor deed. leasehOld interest with a lerm greater than three (31 years, lease-optIon contract, Of by sale. aSSignment, or uanster of any beneficial interest in Of to any land tfuSL holding tflle 10 the Real Property. or by (lilY mher method of conveyance 01 an interest in the Real Property. However, thi!i option shall nOI be exercised by lender if such exercise is prohiblled by federal law or by Pennsylvania 1.lw. TAXES AND LIENS. Th(~ following proviSions relating to 1/.,e taxes and liens on the Property are part of this Mortgilge: Payment. Grantor shall pay wh(m due land in all events prior to dellnquencyl all taxes, payroll taxes. specialllaxes, asses!;mems. water charges and sewer servIce charges leVied agtllnst or on account 01 the Property, and sha.1I pay when dup. nil claims lor work done on or lor services rendered or miHerial turnlshed to the Property. Grimtor shall m.1intaln the Property Iree 0' any liens having priority over or equal to the Interest of lender under lhis Mortgagl!, t!,lCcem for those liens specihcally agreed 10 in writing by Lender. and except for lhe lien 01 tax.es "nd i.lssessrnents not (,1ue and except as otherwise prOVIded if' this Mortgage. PROPERTY DAMAGE INSURANCE. The follOWIng proVIsions relaling to 1n5lumg the Property are a part Olf 11115 Mortgage: Maintenance ot Insurance. Grantor shall procure and mi!lJOtnin policies ul fire Insurance With standmd ex.te'nded covernge endarsemfmts on a replacement basis lor the tuH insurable valu~ covering all Improvements on the ReM Property .n nn mnuun\ sulllciem [0 i'lvC:H~1 applic8rirm at any COinsurance clause. and with CI standard mort~lagee cl"llJse II' lavor 01 Lenejer. Policn~s sh.lll be v'mtten by slH;h Inswance companies and in such form as mi'IY be reasonably i1ccepwble to Lenner. Gr.lntor shaH deliver 10 Lender certificates of coverage 'rom each insurer r.:unli;uninq a slipulntl(,lf11hal c.:ovt~rllgH Will nm be cancelJed or dirnirushed wlttlout i:l minimum 01 [en 1101 t1ays' prior Wrl(Wf~ rKll,,;e to lenrJer ~'fnd not eonu)ln1ng iJny eJrsc!iilmfH oj the lnswer'r, liabdity lor tailllrt! to gi.ve such nOIH;e. filch JrlSlJlilnCe polley also ~h.:tll tncltJCjl~ an endorsement provi{jing that coverage in lavar 01 lender wdl nDt be Imp,wed In any wily hy ,H1~' act. ornlSSlon 01 delilult of Grantor or any othef person. Shl)uld the Real Properly be IOCiH~{j In an area aesiOllaled U'{ the Dueclor of the Federal Emergenl:Y r'"ll~Jnagcmcnt A~lency iiS a speCial 1'Iood hill.1r<1 iJfI!t~, Granto! a9'cw:~ to Ot.1tiWl and maimall1 Federal Flood Insurance. If availnble. Within 45 dilVS nller notice (s glvI.m by' Lender t~1[It the Properly is located In il speCIal Ilooej hallUlj area, lor Ihf! lull unpaid prinCIpal balance 01 Ihl-~ Ic;lirn ~md any flliof licn~ on ttle p,vpetty secur.nn Ihl! loan, up to th(~ maximum policy jimlts set under the Nationi'll Flood Insurance Program. or as Otherwise requlfed by lenclel, and lO maintain such insurance for the 'term of thl1loilfl. Tax and Insurance Reserves. Upon re('fu(:tSI by Lender ilnd ~Ub'CC:l to nppilc~hle !,iIW. Grantor shall pay tu L~I"'Hjt:r t!ite;h mor.\h on the (ji'IY p':JyrnenlS ~Ire due unljer Ihe Note untIl lhf;! Note is paid in lull, a sum ("Escrow Funus'" eq~Jal to o"e'lwelfth of la' all annual taxes. speCial HI)(es. ilssessments. \'\{,1tor ct,arges and sewer service ChEHg~'IS lovled il9Wnst m un accoun! 01 tt\t! Property and (bJ annual premiums tor pOlicies 01 lire insurance with all rrsks ~;tMKl;Hc.1 Hxlendf-:(j CovEHclge retlLllfed under this Mortgilge ('"Escrow Items"l lentJer may estimntc! the i'lmoun 01 Escrow f-unt1s on t~u: baSIS 01 curref1l d.1ta rlnd iJ reasonable esllmate 01 fUlure- Escrow Items. ArI Escrow Fl.lnds Shilll Ilt: held by lenuer and appliou tel pi1y the Escrow Items wtlen due. Lendnr will n01 charge lor holt1ing and ill1plYln~J the Escrow Funds, an.1lyzing the iJt:count. or venfying the Escrow hems, unless Lend(~r Pi.1YS Gr;:mtor inter(!SI on the Escrow FundS and apphcable law permits Lender to milke such a charge. Grantor and Lender may agree In writing that intereSt shall be paid on the Escrow Funds. Unless an agreement is made or applicable law requires Interest to be piIJd, Lender shall nOI be reqUired to pity Grantor any Interest Dr earnings on tl1e Escrow Funds. The Escrow Funds me pledgF..'(j as i.tdditlOnal security for the amounts secured by this Mortgage. If the i.imount of the Escrow Funds held by lender. together with the future monthly payments of Escrow Funds pOOl: 10 tl1e due dales 1)1 (he Escrow Items. sh.;JII exceed the amuunt required to pay the Escrow Item~ when due. (he 8\( I Sil, ': {" (', 5 "\ ,". "', ... .... '.J..... Loan No: 400213356 MORTGAGE (Continued) Page 3 excess shall be. at Grantor option. either promptly repaid to Grantor or credited to Grantor in scheduled payments of Escrow Funds. If the amount of the Escrow Funds held by Lender is not sufficient to pay the Escrow Items when due. Grantor shall pay to Lender any amount necessary to make up the deficiency in one or more payments as required by Lender. LendBr's ~xpenditures. If Grantor fails (1) to keep the Property free of all taxes. liens, security interests, encumbrances. and other claims, (21 to provide any required insurance on the Property, or 13) to make repeirs to the Property then Lender may do so. If eny action or proceeding is commenced that would materially affect lender's interests in the Property, then lender on Grantor's behalf may, but is not required to, take any action that Lender believes to be appropriate to protect lender's interests. An expenses incurred or paid by Lender ror such purposes will then bear interest at the rate charged under the Note 'rom the date incurred or paid by Lender to the date of repayment by Grantor. All such expenses wilt become a part of the Indebtedness and. at Lender's option, will (11 be payable on demand; 121 be added to the balence of the Note and be apportioned among and be payable with eny installment payments to become due during either lal the term at any applicable insurance policy; or Ibl the remaining term of the Note; or (31 be treated as a balloon payment which will be due and payable at the Note's meturity. Grantor's obligation to Lender for all such expenses shall survive the entry of any mortgage foreclosure judgment. . Warranty: Defens. of Title. The following provisions relating to ownership of the Property are a part of thi" Mortgage; Title. Grantor warran'ts that: Is) Grantor holds good and marketable title of record to the Property in feEl simple, free and clear of all liens and encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report. or final title opinion issued in favor of, and accepted by, Lender in conneclion with this Mortgage. and Ibl Grantor has the full right. power, and authority to execute and deliver this Mortgage to Lender. Defenl. of Title. Subject to the exceplion in the paragraph above, Grantor warrants and will forever defend the title to the Property against the lawful claims of all persons. Full Performance. If Borrower and Grantor pay all the Indebtedness when due, and Grantor otherwise performs all the obligations imposed upon Grantor under this Mortgege. Lender shall execute and deliver 10 Grantor a suitable satisfaction of this Mortgage and suitable statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Grantor will pay, if permitted by applicable law, any reasonable termination fee as determined by lender from time to time. Events of Default. At Lender's option, Grantor will be in default under this Mortgage if any of the followingl happen: Payment Default. Borrower fails to make any payment when due under the Indebtedness. Default on Other Payments. Failure of Grantor Within the time required by this Mortgage to make an~' payment for taxes or insurance. or any other payment necessary to prevent filing of or to effect discharge 01 any lien. Break Other Promises. Borrower or Grantor breaks any promise made to Lender or fails to perform promptly at the time and strictly in the manner provided in this Mortgage or in any agreement related to this Mortgage. Default in Favor of Third Partiel. Should Borrower or any Grantor default under any loan, extension of credit. security agreement, purchase or sales agreement, Dr any other agreement, in favor of any other creditor or person that may materially affect any of Borrower's or any Grantor's property or Borrower's ability to repay the Indebtedness 01 Borrower's or Grantor's ability to perform their respective Obligations under this Mortgage or any related document. Death or Insolvency. The dea1h of Borrower or Grantor, the insolvency of Borrower or Grantor, the appointment of a receiver for any part of Borrower's or Grantor's property. any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or inSOlvency laws by or against Borrower or Grantor. Braach of Other Agreement. Any breach by Borrower or Grantor under the terms of any other agreement between Borrower or Grantor and Lender that is not remedied within any grace period provided therein, including without limitation Bny ,agreement concerning any indebtedness or other obligation of Borrower or Grantor to Lender. whelher existing now or later. Event. Affecting Guarantor. Any of the preceding events occurs with respect to any guarantor, endorser. surety, or accommodation party of any of the Indebtedness or Bny guarantor, endorser, surety, or accommodation party dies or becomes incompetent. or revokes or disputes the validity of. or liability under. any Guaranty of the Indebtedness. In the event of a death, Lender. at its option. may, but shall not be required to, permit the guarantor's estate to assume unconditionally the obligations arising under the guaranty BK I 9 l} It PG 0 5 8 6 Loan No: 400213356 MORTGAGE ( Continued) Page 4 .._---_.,.~~--~---_.- -.- -. 111 it mitnnet $':Itl$lactory to Lender, and. m dOIng so. Cure ~l1y Evenl of DelClult. Insecuri1Y. lender 111 good Iilith believes ltsell insecure. Right to Cure. If .onV (jelllut1. other than a dclhult In payment is curable ~nd if Gutntor has nOI b€en gIven ;;1 nollCc 01 u bmach of the same proviSIon 01 this Mortuage within the preceding twelve (12) mOI"\lhs, it may b~ curorf If Granlor, ~)t(er receiVIng wrItten notice from Lender demanding Cure oj such default: l,at cure:i (11e defilUll wllhln fl!leen {15~ days; Of {fJl it tht! cure requIres more th,'ln fifteen 1151 dCiyS, lmrnedlatety Initiates :>wps whll;h I.tmdt:'r LhH~ms In ll~ncltH's stlle dIscretion 10 be ::iUIl,Clent to cure the defuult and there~ther (;ordJmJ(~s ~in(J Compl~lt!~ all 'tw~lln,'blp. am] nec(;-ssary $WPS sulfl(;lenl 10 p10duce compliance as soon ilS rt)i:lsor1alJly prill::tlcnl Rights and Remedies on Oefault. Upon the occurrence of an Even! ot DI~IClU" and (']t any lime lI"'If!reafter, Lender, .:.It I.I~rHlt:r's optH..:m. l11i1y CJlIHCISH ilny one or more 01 th", tOllowing fights and remedies, in ilddilton to any other rl~.Jt1tS or remedies pruvlded l.Jy law: Accelerate Indebtedness. lender shHII have the (Ighl at Its Option, atler gIVing ~uch notices as required by ,I~plicabje law, to declare the entIre Indebtedness Immediately due and paYC'lble. UCC Remedies. With respect to all or any part of the Personal Property. Lender shall have all the rights and rem("dies of a secured party under the Unllorm Commercial Code. Judicial Forecl~sute. Lendr;H may obtitin iJ ludicial deCtttt:1 lomclo!;jn~l Grantor's interest 10 all or [inv part 01 th.:! PrOpfHty. Nonjudicial Sale, 1I permitteel by f1ppllcnble law, Lender may lortz(;losl~ Grantor's Interest If) till or In any part 01 lhe- Personal Prop~rtv or the Real Property by nOI1.Juthcial sale, 01her Remedies. Lender sliall h,lve all other fights and remedies provided In this Mongilge Of U"le NOH~ or available at law or In equity. Sole of the Property. To the extent permitted by applicable law, Borrower and Grantor hereby waive any and all right to have the Property marshalled. In exerciSing its rights and remedies, lender shall be free 10 sell all or any part of the Property together or separately, in one sale or by SI!par8te sales. Lender shan be entitled to bid at any publiC sate on all or ilny portion 01 the Property, Election of Remedies, All of Lender's rights and remedies will be cumulative and may be exercised nlonl~ 01 lugether. An election by Lender to choose anyone remedy Will n01 har Lender from using any other remedy. II Lender deCides 10 spend money or to periorm any 01 Gr~mtor's Obligations Linder thIS Mortgage, alter Grcll1tor's 1clllure to cia SQ, thi'll dec~slon by lender WIll f101 affect Lender's right to declare Gramor In ctet,:lult Hnd to exerCJ:if! Lent1er's reml;:(l.es. Attornevs' Fees: Expenses. II L(.mdAf Infotltutes ell1\, suil or action to enlorce any 01 lhe terms ul It,is Mortgage. Lender shalt be entJth~d 10 recover such sum [IS the COurt may Bejjudge reasOr\ilble as intorneyS' tees al triill and upon ;1Iny appeal. Whether Of not any court action lS involved. and to the e.l(tent not p,ohibited by law, all rtHtsonable expenses Lender Incurs that In Lender's opinIon are necessary at any tlfTle lor (he protection Df Its IntrHcst or the enforcement of irs rights shall become a part of the Indebtedness paYAble on tiemiJnd and sh(ill bflcH Inwrest al the Note rate hom Ule dme 01 (he expenditure until repaid, Expenses covcrud by thIS purngr.1ph Include, WHI"lout lrmltittlon, however subject to any I~rnits under appllc,lble law, LI~ncJcr's illlOrneys' lees and l.ender's letlal expense~, wtwther or not there is n lawsuit. inr.hJcJmg attorneys' /(~e5 fwd expen~es lor bankruptcy proceedings lincluding efforts to modily or Viicale any automatic stay or ill/Llnctlonl, apPIHlls, i'lncl any HnliclpatcLi post-judgment collection serVices, the cost 01 searching rp.con1s, ()lJti'lInin~l IllIe r~port5 (jnc~u(hng foreClosure repOrts!. surveyors' reports, and apprmsallees: and title insurance, 10 1I)(~ I:Lxltm\ pfumittecl hy c'lppllCl'lble law. Grantm ~.;lso will pay i.IFW cOurt costs, in addition to all othIH sums provicled by la,^., Note,. Tht: wCHfj "Note" fm:i.",S Ih4! prOrnts!'l1ry note dilled March 3. 2006 in th~ original prrnclpal dnlounl ot S30.000.00 lrom Grantor to Lender, logether wilh all renewals of, extenSlons 01. modifIcations 01, relmancangs (l1, consolidations of. t1nd suustltutlons for the promIssory nOle or agreement, Miscellaneous Provisions. The follOWing I'nlscellaneous prOVISIons are a part of this Mortgage: Governing Law. This Mortgage will be governed by federal law applicable to Lender and, to the extent not proempred by federal law. the laws of 1he Commonwealth of Pennsylvania without regard to its conflicts of law provisions, This Mortgage has been accepted by Lender In the Commonwealth of Pennsylvania. Time is of the Essence. Tirn~ is 01 lhe essonce in the perlormance 01 thIS Mortgage. Definitions. TtHJ following wurds Sl1all hc:'ve the lollowlng meanings when used In thiS Mortgage: Borrower. TIle ......o((i "BorrDwer" means William H. Alderdice and includes atl co'slgners f.lnd CD. makers 1""\11 I ("'\ I bl\ .::Ilf r'," (, r C' 7 ;,1., [l r;'} ) I I.J ,~)... I loan No: 400213356 MORTGAGE (Continued) Page 5 limitation the Comprehensive Environmental Response. Compensation. and Liability Act of 1980, 85 amended, 42 U.S.C. Section 9601, et seq. ("CERCLA "J. the Superfunc AmendmenlS and Reauthorization Act of 1986. Pub. L. No. 99-499 '"SARA "', the Hazardous Materials Transportation Act. 49 U.S.C. Section 1801. et seq., the Resource Conservation and Recovery Act, 42 U.S.C. Section 6901, et seq., or other applicable state 01 federal laws. rules. or regulations adopted pursuant thereto, Event of Default. The words "Event of Default" mean any of the events of default set forth in this Mortgage in the events of default section of this Mortgage. Grantor, The word "Grantor" means William H. Alderdice. Guaranty. The word "Guaranty. means the guaranty from guarantor, endorser, surety, or accommodation party to Lender, including without limitation a guaranty of all or part of the Note. Indebtedness. The word "Indebtedness" means all principal, interest, and other amounts, costs and expenses payable under the Note or Related Documents, together with all renewals of, extensions of. modifications ot, consolidations of and substitutions for the Note or Related Documents and any amounts expended or advanced by lender to discharge Grantor's obligations or expenses incurred by, Lender to enforce Grantor's obligations under this Mortgage, together with interest on such amounts as provided in this Mortgage. Lender. The word "Lender" means COMMERCE BANK/HARRISBURG N.A.. its su<:cessors and assigns. The words "successors or assigns" mean any person or company that acquires any interest in the Note. Mortgage. The word "Mortgage" means this Mortgage between Grantor and Lender. 'Nota. The word "Note" means the promissory note dated March 3, 2006. in the original principal amount of $30,000.00 from Grantor to Lender, together with alf renewals of, extensions of, modifications of, refinancings of. consoUdations of. and substitutions for the promissory note or agreement. NqTICE TO GRANTOR: THE NOTE CONTAINS A VARIABLE INTEREST RATE. Personal Property. The words "Personal Property" mean all equipment, fixtures, and other articles of personal property now or hereafter owned by Grantor, and now or hereafter anached or affixed to the Real Property; together with all acceSSIons, parts, and additions to. all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without limitation all insurance proceedS and refunds of premiums) from any sale or other disposition of the Property. Property. The word" Property" means collectively the Real Property and the Personal Property. Rea' Property. The words "Real Property. mean the rBal property, interests and rights, as further described in this Mortgage. Rents. The word "Rents" means all present and future rents. revenues, income, issues. royalties. proHts, and other benefils derived from the Property. GRANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS OF THIS MORTGAGE. AND GRANTOR AGREES TO ITS TERMS. THIS MORTGAGE IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS MORTGAGE IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. GRANTOR: x .1ik-~<-. 7/. e..r.__ William H. Alderdice ISeal} BK I 9 4 4 PG 0 6 8 8 Loan No: 400213356 MORTGAGE (Continued) Page 6 ..---.,..---..----..-......----------.---..-.----.--.,- ---.--.----.--.,----.-.-...-----...------.-- CERTIFICATE OF RESIDENCE I h(~'t~by cenlly. thin lhe precise i1fJ<1ress ul the mort~Ftgee. COMMERCE BANK/HARRISBURG N .A.. herein IS as. follo.......s: CARLISLE. 65 ASHLAND AVENUE. CARLISLE. PA 17013 f/" , /',' I' ',f, _",j '( /, ! / !,. f / / 'If ,( ( 1 :..,.I.../.,~( '~'--{/:;....,:~,:,._,. {.J- ./L.b~-:";.~.:~._.~,~./ .. At{()(n,p.y or Agent lor Mortga~- ,/ \/ INDIVIDUAL ACKNOWLEDGMENT COMMONWEALTH OF PENNSYLVANIA I I SS COUNTY OF Lf,:<../} ~L,,-,':'J,,'-.r~",C,... Onlhls.the" _"~~/",,.L) _.... ,r'ayol, _,. rfLi",-c't~, .._.... ..,20CJ(:., ..,betofemc (./u.{t:~,t..i...,~ ,.,_b~:::~.:;. ~ l.~~i._'..~~_', "t'l1~ under$,~jiled' -No'tary-Pu"i"j"iiC~. p'crsunali\; '.ar'l>e aT ed-Will,am H. Alderdice-:-kii()W'"n to me lor satislactordv provenl lO bfl the person whose name IS subscTlbed to the wrthin instrument. ann acknuwledged U1al he or she executed the s~me tor the purposes therem contalOt!d, In witness whereof. I hereunto set my hand and official seal. /) L ' '.". '-., ---.-..." _ ..____._L!...t2JkA.lJ..~..J~~---..,,'/":...__-... ~ Notary PubllG In and lor the SIBle of __...._."i~. '.Q "=-"""---=~_.,,--"""'-,,--~-==-..==--=--==.=:::...._--,,--_..,,--= of' ,.-.1" ~,.,-, . ..,'"'" ',.. :. II.! '''';' "~.. "".' .....'..." .,."".,,, :'.,,_ "~, ~\A,It. ..., ...~~." ........"', ".... .Wlt.......~ L"'~,"_l:r,....,...Lil)J l'. .~ I~J'~ ,.. ';" B!, I ( ~.~ !<-! ~~.) 8 9 PROMISSORY NOTE Principal loan No f er Initials $30,000.00 400213356 1011 References in The shaded area are for lender's use only and do n01 limit the applicability of tn,s document 10 any particular loan Of item Any item above containing". ~ ." has been omitted due to texl length Iimmmons. Borrower: Willi.m H. Alderdice ISSN: 204.30.09181 2131 Newville Road C.rlisle. PA 17013 lender: COMMERCE BANKIHARRISBURG N.A. CARLISLE 65 ASHLAND AVENUE CARLISLE. PA 17013 17171 240.2665 Principal Amount: $30,000.00 Interest Rate: 6.590% Date of Note: March 3. 2006 Ma'un'y Date: March 8, 2016 PROMISE TO PAY. II"Borrower") promi.e '0 pay to COMMERCE BANKIHARRISBURG N.A. I"lende,-I. or order. in lawful money of the Uniled States 01 America. the principal amount of Thirty Thousand & 001100 Dollars ($30.000.001. together with interest at the rate 01 6.590% pe' annum on the unpaid principal balance from March S. 2006. until paid in 1ull. The interest rate may change under the terms and conditions of the "PREFERRED RATE REDUCTION" section. Unless waived by lender, any increase in the interest rate will increase my number of payments. PAYMENT. I will pay this loan In 120 payments of $342.15 each payment. My lirst payment is due April 8. 2006. and aU subsequent payments are due on the same duy of each month after that. My nnal payment will be dult on March 8. 2016. and will be for all principal and all accrued tnterest not yet paid. Paymen15 include principal and interest. Unless otherwis_e agreed or required by applicable law. paymenb will be appl;ed first to any accrued unpaid interest: then to principal; then to Bny unpaid collection casu; and then to any late charges. Interest on this Note is computed on a 365/365 simple interest basis; that is. by applying the ratio of the annual interest rate over the number of days in a year. multiplied by the outstanding principal balance, multipHed by the actua' number of days the principal ba'ance is outstanding. I will pay lender at lender', address shown above or at such other p'ace 3S lender may designate in writing. PREFERRED RATE REDUCTION. The interest rate on this NOle includes a preferred rate reduction, Following is a d(~scription 0' the event Ihat would cause the prAferred rate ,eduction to terminate. how the new rate will be determined upon terminatIon 01 the prelerred rate reduction and any rules pertainIng to the termination of the rate reduction. Description of Event That Would Cause the Preferred Rate Reduction to Terminate. IF THE AUTOMATIC PAYMENT IS DISCONTINUED BY THE BORROWER OR THE LENDER. How The New Rate wm Be Determined Upon Termination of the Preferred Reduction. THE INTEREST RATE WILL INCREASE 8Y ONE. HALF OF ONE PERCENT 1.500%), Rules. THERE IS AN ADMINISTRA T1VE FEE OF S25.00. PREPAYMENT. I may pay without penalty all or a portion of the amount owed eallier than i1: is due. Early payments will not. unless agreed 10 bV Lender in writing. relieve me of my obligation to c.ontinue to make payments under the payment schedule. Ruther. early payments will reduce the principal balance due and may result in my making fewer pllyments. I agree not to send Lender payrnents marked ~pi1ld in full", "Without recourse". or similar language. If I send such a payment, Lender may accept )1 without losing any at Lender's fightS under this Note. and' will remain obligated to pay any tun her amount owed to Lender. All wrillen communicaHons concerning disputed amounts. including any check or other payment ins1rumcnt that indicates that the payment constitutes "payment in full"' of the amount owed or that is 1endered with other conditions or limitations or as full satisfaction of n disputed amount must be mailed or delivered to: COMMERCE BANK/HARRISBURG N.A.. LOAN SERVICING, PO BOX 1195 CAMP HILL. PA 17011.1195. LATE CHARGE. II a paymen' is 15 days or more late. I will be charged 5.000% of the regularly scheduled payment. INTEREST AFTER DEFAULT. Upon default, Including tailure to pay upon Iinal maturity, Lender. 81 its optlon. may, if pcrmined under applicable Inw. increase the Interest rate on this Note 2.000 percentage points. The interest rate will not exceed the maximum rale permitted by a!)pllcable law. It judgment is entered in connection with this Note, interest will continue to accrue on thIS Note alter judgment at the eXisting inlerest rate provided for in this Note. DEFAULT. 1 will be in default under this NOI. il any 01 the following happen: Payment Default. I faille make any payment when due under th,s Note. Break Other Promises. I break any promise made to lender or fail to perform prompl'y at the time and !iTrictly In the manner plovided in this Note or in any agreement related to this Note, or in any other agreement or loan I have with Lender. Default in Favor of Third Parties. I or any Grantor delaults under any loan, extension of credit, secunty agreement. pwchasE~ or sales agreement, or any other agrecmenl. in favor of any other creditor or person thilt may ma,erially affect any of my plOperty or my ability 10 repay this Note or perlorm my obligations under this Note or any of the related documents. False Statements. AnV representation or statement made or furnished to lender by me or on my behalf under lhis Note or the relaled uocuments is lnlse or misleading in any material respect, either now or at tne time made or furnished. Death or Insolvency. Any Borrower dies or becomes insolvent; a receiver IS appointed for any part ot my property; I make an a:>signmen, lor the benefit of creditors; or any proceeding is commenced-either by me or against me under ony bankruptcy or Insolvency laws. Taking of the Property. Any creditor or governmental agency tries (Q take any of the property or any olhcl of my property in which Lender has a lien. This includes talung of, garnishing 01 or levying on my accounts with Lender. However, III c.k;p\lte In good faith whether lhe claim on which the taking of the property is based is valid or reasonable. l1nd it I give Lender written notice of the claim and furnish Lender with monies or n surety hond satisfactory to Lende, to satisfy the claim. then this default provision will n01 apply. Defect.ve CoUateralization. Thls Note or any 01 the related documents ceases to be in full torce and ellcct (inclucJiny failure 01 any collale,al document to create a valid and perfected security interest or lien) at any time an.d tor any reason. Collateral Damage or Loss. Any collateral securing this Note is lost. stolen, substantiaUy damaged or destroyed and the loss. theft, substantial damage OJ destruction is nOI covered by insurance. Events Affecting Guarantor. Any r)l the preceding events occurs with respect to any guaran1or, endorser, surel,y, or iJCCOmmocJiHron par'v Loan No: 400213356 PROMISSORY NOTE (Continued) Page 2 ____.,_._.._.____, _..__.._ ....__...."0:".-'=._._. :_"""'_',~~~,,-;'."'.-;""""'-,=~"l.:=-=,=:,,-::==--:::=~~":'::.77"-=~~':';"'::;:~--;::==-~'~=::.,...:",...:.:,.=.~.::":==:",".,;;::=....",===-=-...".",-"..:;'-'-=,=-:..:::.o.""..",,c=::,-~,,-,-".:...-z,,"=:=-.,.-~::. or "'1',.' \11 Itli.! 111df;:l)lellrH:'~;~; III ;illy IJu;H(inHlI, en(1{)r~t!l, :;Uff~ty or ilt;COlllll'll)ll.,lInn p,"-uty dlt~';:j 01 l.ll:curnes Inct)lnpl~lcnl. or rcvllkt::;. (n l.h~:pUli~:, the v,lltdl('" 01. Dr hatuld.,.. ;Jlltlm, allv guar.lflty 01 ;he lndcl)\I:Llness e',!I(iClIGCrJ bv lhl~ NOI(~ In IhfJ evenl oj ,I l1ei.It~.,. Lcn(1(~r. :1\ It:; qptllJlI, 11'Ii:l,I, IIUI :.11,111 IIUI tH! II:qulll:ld tU. jHHmll the Huill;II)HU'S l.:'~.IiJII: to dS~;,H111..' UIK"tl/lt11liOl'\1I1ly II-'t!. OtllrO<Itll)n~; all$1I1~] under !hl~ OlliHanty III iI rJlO:Hltll.:r ~;,]t1~;I.;IClqry \\I Lender. ,Ind. In {lOIIlY 50. cure <Illy E'/ent 01 Di~lilull. Insecurity. Lunder 111 ~IUo(1 li.illh IJclu~ve5 Il~elllnscCllrt: Cure Pfovisions. 11 it'\y {1eliJull. othl~r than a de:daLllt In paymem IS ClIrilllle ilnd " I hil\H~ nOl l)f~en gIven ,I nOllce 01 il bl(~i_ICh 01 U1C !t~HnL~ f1ru....rsuJn 01 Ih,s Now wIIl"lu1 the pfeceuing lwel....l'! 1\21 rnonlhs. 1\ mi\;' bl:! Gun:~<l II I. atlel rCC(livlnu wlltHII1 notu:c hom \...ender demarH.1lny Cllfl~ 01 :.Llch dtdillJll ill CUrl.: lh~ dc-taull "',lItl1rl1 "tteon 11Sl (Lays; l.H \21 II the CUlt: requlr~s O'lOH: Ihall 11tlt:!en 115Il1i1Ys. Ilnml~r1I':H~ly ('Ulii1lC' :;h~1J5 WhH:t\ l~nd..;!f t1uums 11'1 LundCJI'S sC)l~ dlSCrcllfH\ trJ 1;(.' slJIIIC:li.ml tn cure' Ihe defnull ;10<1 thercaller cOflllnut! .1/"\<1 comple1e' illl fl!i1~;r"n.II,!c dlHJ nl:I;I~~:",l' v -;;1(:11:. :-oulllGlttnl to l)fOdllCH t:llmpllanCL! .f~ ~;oon ":l~ fl.:JilSO!1~lhly IJlilCIICi-ll. LENDER'S RIGHTS. Upl,li'1 Uel;-tUl1. l..l'llder rn:JY, illltH Ulvm\l SlJctl nulll.:(,!~; d'S requrlett bv .WPIlt;i1tllc lflw. declare lll~ entire unpilIt.l pllr\CII-lClI II,ddnCe 'jn lhr~~ Noh: dlHI i,lll ':Ii.cruel! unpi.Hd Inll.!r~st lr1"ll'HHllillt!I..-' ~Iue. dnd then I WIll pily !lrioH amour\!. ATTORNEYS' FEES: EXPENSES. Lundel III a..,. hut:! ()I Jli1Y ~ornt!l)n~ t:1~H: III '1e!ti colleel lhl':i NoW II I {ju not pay I wdl pa~' LcmhH Illi:1l iH1llH.n\{. TllrS Includes, Slll)II~I:t ttll.H1V hrl'llts IIno!.:r applicable l.;lw, LtmLl~r's i\\WIIlt;:yS' lncs iU'l(j Ll!nc1er's 1t!~liil ex.penses:, whtHI1CI Of not ttHHlJ IS il lawsuIt. ll'li;lud1l19 "'tl\Ulney~' It.:us. (!.'i.penst.:s 101 tJ:u,krwptcy pfl)t'(~edll'\9!J (JncILl{lm9 /!'tort~; Itl !nudlly 01 V~IC(llC ltny oumm.:llll: silly (}/ "'Iunclionl, and awpe':11s., II not ~.HLJhll.)lted 1"( i1PpllCilhlc law, , al:iU wIn ptlV any COLlrt COSI~. 01 iHJdr\!un to allOlhcf SlH1\5 pfovlded by 1~IW GOVERNING lAW. This Note wilt be governed bV federal law applicable to lender and. to the e..lenl not preempted by federi)llaw. the taws of the Commonwealth of Pennsytvania without regard 10 its conflicts ur law provisions. This No'e has been accepted by Lender in Ihe Connllonweallh 01 Pennsvlvania. RIGHT OF SETOFF. To the t111.1p.nt pc, milled IJY appll(;ahlc law. Len(I,~1 ICSl:!IVi:~j " Ilqht 01 StHotl In ill! my .']Gl;()un!s with It:md(~1 IwhClhl!r dlecklll<;J, :j.JV1I1q.... UI :-OLlml~ utllec iICCQU/lll. This Incl\Jd(!~ all accounts I hold 1(1lf'l(lv wIth ~(lmetlne else tmct till aCCQWH!i I may IJpt~t111\ Ihc lulure Hllwr~\'I~l, 11l!~ doc~ 1\01 IncludlJ any IHA or Kt::unh olCC()lInl$. or iH1y IH.l5l ;JcGtJunlS 101 wMlch scwll wouleJ he prohibIted lJ" Jaw I itlllhl)fllC~ 1.1~l\def, 10 Ih1~ l:.<;tcn\ permitter) by c.HlplrGl.lllh:: ljjw. to t:har9c 1.11 s~lolt ,)11 S'o.lI1ll' oWln~l of'llh!:! IndatJtedncss agilinsl any dr)O rill such accounts. COLLA TERAl. I ,ld:.no",illHtnc thIS Nole IS SCCLHlH1 by 2131 NewVille H{)~d, Ci'lthsle. \"'~st Pennsboro Town:;hIP. Curnberlnm:J Counly, ~t!lll'IsvlvaIHa PROPERTY INSURANCE. I undt.:'SliJmt thai I ,1m rcqUlf<?l1 tu obtain In:.llranc{! ItH the I;ullalcfal secllllntj Hus Now. FurU1er Inlotm<ll,on concerning lhls fHqulrem(.mt IS set forth in tMe Mortgage itnd In thu Agreemcnt to Provl(h~ Insurance, all the H~rnlS and conditions of whIch are IH~'chy Il"lCtHI~)'i1Wd and lTlild~~ it pari 01 thIS Note. SUCCESSOR INTERESTS. The terms 01 thiS Note sh.:lll be bInding upon me, .,nd upon my tWlIS. personal reprt!Senli;jhvcS, suCcessors lUHf rl~sjgn!\, i]ml SllilH Inure to Ihe ttenellt 01 Londel' and its successors iJntJ (lsslgm; NOTIFY US OF INACC\JRA TE INFORMA nON WE REPORT TO CONSUMER REPORTING AGENCIES. Ph'W~f~ nOldy uS il we r~port iJny inaGl;lIIillt~ ,nlOlITliIIIW\ itt)oul your i1ccount!sl 10 a Cl.lnsvmcr reportIng agency_ Yc)Ur wrlttl~n notice descrltlln~1 tt\t';' specifiC ini'lccllr(.lcyJ,lesl shaull'l h(! st~nt tc\ ":i .Ii Ille 'ollow,nll .H""e::o: COMMERCE BANK:I-tARRISBUr<G N A. LOAN SERVICING PO BOX 1195 CAMP HIL L. PA 170111195. GENERAL PROVISIONS, If ::in)! prJl't 01 lhl~ Note c;,nnOl be ~ntofr:cd. IllrS l<tel 'NIIl notalluct the llJ~1 01 the No\t~ Lendm mily deLay or lorqo !!f'11un:lf1U ;1IlV ut I\:-> 119'\t~ or rcrnetlll::S under Ihls NOtL! w.lhout loslnD Ow", 1 rind Hny other pt':I~;OI1 who slon!;. ~llJiHitflteeS CH cf\dl1fSCS thiS NOll!. to Ihl! I~".tl:nl illl()wed ily law, .......fl'Ve presnntlnent. demill,d lor I)ilVrnt~nl, ,md nulll.e uJ dishonor. Upon i.:lny ch;ln9c 11", tile tl.HnH; 01 Ihls r-Jutll, and Unll!SS ull11!'WISe cJ.pfe~;sly 5(.iHCcJ m WCIllrIU, no party wtlO SI~lns tI-lr~ t.Jot\!. whelh\'!'1 (IS mak~l, gUill,WIOI. ilCGornmo<.Jall0n rni'lkt:'f (.n r:ndn'!it:r. tihdUlu! li'!h~d':H.'d trom lIahilily. All $ucl1 p,Hlles ,'lon!(.: thai lender may 1(.'n~W or cx{eorl Itt!pf!iHnd1v ill'l(1 101 any ll!nn1l1 01 tltlll.!J \t'lIS In,:ln or rl~leilsl.~ any pallv UI ljullfi:lnlOI ()I t'(lHillIHi'lI; or ""p.:-tH, lilrl W ff!(lhze upon or perl'~ct Lt!nduf's securlly Intl:l(~SI In Ul(~ ~:()Il"H:H~jJ. AU :;lICh pOll he:; itl~;o .1~Jrt~': Ill.!l l_enllUI m"y flloddy lhl~ IO('ln wllhollt {hI:! con~et'l ul or flt)[I(;(! to ilfly(HIC tlltH~r ItHlfl !tle panv wllf1 whom ttU! m()(1r111':i:tlI011 l~. rn':lde TIll.! ol.lilfl,ll1on:; lJlltWr tl'l~ N(ll~ are ItH"1 ~lth1 ~c'll~f..1 ThIS rnnilflS thil1 IlK' vvur(l:. "~H. "fT\t:H. \111[1 "my" IlH.!dll 1!;tc!l ~~I1(i illl 01 Il1l: pprSI\ll~; :iliJr'llf\~1 tltd,]..... PRIOR TO SIGNING THIS NOTE. I READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE. I AGREE TO THE TERMS OF HIE NOTE. I ACKNOWLEDGE RECEIPT OF A COMPLETED COpy OF THIS PROMISSORY NOTE. THIS NOTE IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND HAVE IHE EFFECT OF A SEALED INSTRUMENl ACCORDING TO LAW. BORROWER x . ,~_ /..' U oJ. '\tiiiiia"',H:".AId-e~'d'ice-. ____.________..-<S..II ....H,.~.'~."';~-"""'-.,..,-.,,..::,._=;;.'I:..:._=~_~;=~...~~.,,=:...\..:=..~.:.:"",.,..H,~....;:.:,':..~..'.~;"""",.,.,':'~,..""'~.,..:~=.=.".",..=_'='=';=.===_=~_:=='~"";:::.."'='=.=~=::::=c:~==:'....-=:-"':'./'O"=,-;::~, '"' ;,.~. ..'....,..".,.......' "... .."..r...~"',.,...".',,~.,I.'i.>" 1M ,..t~~.." '"