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HomeMy WebLinkAbout03-6114! 7 2003 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff No. ©5- VS. GARRETF ELECTRONICS CORPORATION, Defendant : NOTICE OF ENTRY OF JUDGMENT TO: GARRETT ELECTRONICS CORPORATION 149 Geary Street New Cumberland, PA 17070 GARRETT ELECTRONICS CORPORATION C/O Richard H. Garrett, President 1709 Edgar Lane Camp Hill, PA 17011 You are hereby notified that on November 21, 2003, Judgment by Confession was entered against you, the Defendant, GARRETT ELECTRONICS CORPORATION, and in favor of the Plaintiff, MANUFACTURERS AND TRADERS TRUST COMPANY, for the following amounts pursuant to the warrants of attorney contained in the "Promissory Note" dated July 22, 1997 for $300,000.00, attached as Exhibit "A" to the Complaint, that was filed in the above captioned matter, for: PRINCIPAL INTEREST TO 11/21/2003 LATE CHARGES LEGAL FEES TOTAL $295,000.00 $2,538.35 $o.oo $29,500.00 $327,038.35 Plus interest on the judgment from the date of judgment at 10.25% with the per diem amount of interest being $83.99. DATED: November 21, 2003 KAIN, BROWN & ROBERTS LLP BY: Jac..k.~. Ream, Esquire 119 East Market Street York, PA 17401 I.D. 10241 Phone 1-717-843-8968 Fax 1-717-846-6676 E-Mail: JckReam@aol.com Attorney for Plaintiff Manufacturers and Traders Trust Company 2 I.D. 10241 Phone 1-717-843-8968 Fax 1-717-846-6676 E-Mail: JckReam@aol.com Attorney for Plaintiff Manufacturers and Traders Trust Company IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff No. 0_~- (~ /1~ ~-~ --~-~ VS. GARRETT ELECTRONICS CORPORATION, Defendant : COMPLAINT 1. The PLAINTIFF is MANUFACTURERS AND TRADERS TRUST COMPANY, a state banking institution organized and existing under the laws of the State of New York, registered to do business in the Commonwealth of Pennsylvania, formerly known as PENNSYLVANIA NATIONAL BANK AND TRUST COMPANY, with one of its principal places of business at Troup Building, 213 Market Street, City of Harrisburg, Dauphin County, Commonwealth of Pennsylvania 17101, and hereinafter sometimes referred to as "Plaintiff" and/or "Bank". 2. The DEFENDANT is GARRETT ELECTRONICS CORPORATION, a corporation organized and existing under the laws of the Commonwealth of Pennsylvania, with its principal place of business at 149 Geary Street, New Cumberland, Cumberland County, Commonwealth of Pennsylvania 17055, and hereinafter sometimes referred to as "Defendant". 3. On or about July 22, 1997, PENNSYLVANIA NATIONAL BANK AND TRUST COMPANY, predecessor to MANUFACTURERS AND TRADERS TRUST COMPANY, extended to Defendant a credit facility in the form of a Line of Credit for $300,000.00. 4. To evidence the borrowings on the Line of Credit for $300,000,00 referred to in Averment 3 hereof, on or about July 22, 1997, Defendant, as Obligor, executed a "Promissory Note" for $300,000.00, in favor of PENNSYLVANIA NATIONAL BANK AND TRUST COMPANY, predecessor to MANUFACTURERS AND TRADERS TRUST COMPANY, as Obligee. 5. Attached hereto, marked Exhibit "A" and incorporated herein by reference thereto, is a true and correct copy of the a "Promissory Note" for $300,000.00, dated July 22, 1997, executed by Defendant, as Obligor, in favor of PENNSYLVANIA NATIONAL BANK AND TRUST COMPANY, predecessor to MANUFACTURERS AND TRADERS TRUST COMPANY, as Obligee. 5. The "Promissory Note" (Exhibit "A") contains a confession of judgment clause. 6. No judgment has been entered on the "Promissory Note" (Exhibit "A") in this or in any jurisdiction. 7. MANUFACTURERS AND TRADERS TRUST COMPANY purchased the assets of PENNSYLVANIA NATIONAL BANK AND TRUST COMPANY, including the loan to the Defendant and the "Promissory Note" (Exhibit "A"). 8. Except for the transactions set fodh in Averment 7 of this Complaint, there has been no assignment, transfer, sale or negotiation of the "Promissory Note" (Exhibit "A") and Plaintiff is the owner and holder of the "Promissory Note" (Exhibit "A") and the real party in interest. 9. The "Promissory Note" (Exhibit "A") evidences is a commercial business lending transaction and is not a "consumer lending transaction" as that term is defined in Rule 2950 of Pennsylvania Rules of Civil Procedure. 10. Defendant has failed to make monthly payments of interest on account of and pursuant to the terms and provisions of the "Promissory Note" (Exhibit "A") for months of September and October of 2003. 11 Pursuant to the terms and provisions of the "Promissory Note" (Exhibit "A"), the failure to make monthly payments of interest constitutes a default under the terms and provisions of the "Promissory Note" (Exhibit "A"). 12. The "Promissory Note" (Exhibit "A") provides that a default shall automatically occur upon the failure of Defendant to make any payment when due. 13 The "Promissory Note" (Exhibit "A") provides that upon a default Plaintiff may declare all amounts due under the "Promissory Note" (Exhibit "A") to be immediately due and payable in full without notice to Defendant. 14. As a result of the default by Defendant under the "Promissory Note" (Exhibit "A"), as set forth in Averments 10 and 11 hereof, and pursuant to rights of Bank set forth in the "Promissory Note" (Exhibit "A") Bank hereby declares all amounts due under the "Promissory Note" (Exhibit "A") to be immediately due and payable in full. 15. As of November 21, 2003 the following sums are due and owing to Plaintiff on account of the "Promissory Note" (Exhibit "A"): PRINCIPAL INTEREST TO 11~1/2003 LATE CHARGES TOTAL $295,000.00 $2,538.35 $0.00 $297,538.35 16. In addition to the amounts set forth in Averment 15 of the Complaint, the "Promissory Note" (Exhibit "A") authorize Bank to recover legal fees of 10% of the 2 amount of principal due and owing on the "Promissory Note" (Exhibit "A"), being $295,000.00 with the attorneys fees requested being $29,500.00. 17. Also, pursuant to the terms of he "Promissory Note" (Exhibit "A" upon the occurrence of a default, Bank hereby invokes, without prior notice required to be given to Defendant, the default rate of interest provided for in he "Promissory Note" (Exhibit "A"), effective as of the date of this Complaint, which default rate of interest is 6.25% above Lender's Prime Rate of Interest which is 4%, with the default rate being 10.25% and with the per diem interest being $83.99. 18. The confession of judgment clause contained in the "Promissory Note" (Exhibit "A") authorizes the entry of judgment at any time after the occurrence of default. WHEREFORE, the PLAINTIFF, MANUFACTURERS AND TRADERS TRUST COMPANY, prays Your Honorable Court for a judgment by confession in favor of the PLAINTIFF, MANUFACTUERS AND TRADERS TRUST COMPANY, and against the DEFENDANT, GARRETr ELECTRONICS CORPORATION pursuant to the warrants of attorney contained in the "Promissory Note" dated July 22, 1997 for $300,000.00 (Exhibit "A") for the following amounts along with costs of suit: PRINCIPAL INTEREST TO 11/21/2003 LATE CHARGES LEGAL FEES TOTAL $295,000.00 $2,538.35 $0.00 $29,5OO.OO $327,O38.35 Plus interest on the judgment from the date of judgment at 10.25% with the per diem amount of interest being $83.99. DATED: November 21, 2003 KAIN, BROWN & ROBERTS LLP BY: York, PA 17401 I.D. 10241 Phone 1-717-843-8968 Fax 1-717-846-6676 E-Mail: JckReam@aol.com Attorney for Plaintiff Manufacturers and Traders Trust Company COMMONWEALTH OF PENNSYLVANIA : : SS: COUNTY OF : Before me, a Notary Public, in and for the said County and State, personally appeared Kenneth L. Milliken, who, being duly sworn according to law, doth depose and say that he is an Assistant Vice President, Special Assets of Manufacturers and Traders Trust Company, a banking institution organized and existing under the laws of the State of New York and registered to do business in the Commonwealth of Pennsylvania, and that as such officer is authorized to make this Affidavit on behalf of Manufacturers and Traders Trust Company, and that the facts set forth in the foregoing document are true and correct to the best of his knowledge, information and belief. MANUFACTURERS AND TRADERS TRUST COMPANY Kenneth L. Milliken Assistant Vice President Special Assets Sworn and Subscribed to before me this /F~ day Not .a Sea, Edle I. Lingle, Notary Public Lebanon, Lebanon County My Commission Expires Oct. 11, 2004 I~@~., P~nb~'lva~V4~ A~GJalion ot Nota~ie.s EXHIBIT "A" /'/ PROMISSORY NOTE //, '--,pi,;n'c~i !' Loafs Date I' Metudty ' Loan No : CAll . Collateral ' "".'-~ce{'- In~i~"1 '..'.. · !... coura ._sE._c. . ' : L 11n356 ' RGRe5 , '~lf~'c-, ".t~'~ I'! t'To ar. ad~l ,area B.'n trl~ I.,k?~';k.j.. ~..',.n '....r ~ ,~-,'1 ~'3 ',~' '.'rtl t'~l -'.~-' I.'~[J ~ .c' ir - ti'..<;.., ti' 'D ar'~' ;:e'.,c,~r ,Gent ~ i.,r- Borrower: Gerretl alect~n~cs comoralion Lender: 14~ Genly Streel New Cemberland, PA 17070 Principal Amount: $300,000.00 PENNSYLVANIA NATIONAL BANK AND TRUST COMPANY CAMP HILL COMMUNITY OFFICE 4231 TRI#DLE ROAD CAMP HILL, PA 17011 Initial Rate: 9.750% Date of Note: July 22, 1997 PROMISE TO PAY, Gerrett Elast~onlcs Corporetten ("Borrower") promlnee to pay to PENNSYLVANIA NATIONAL BANK AND TRUST COMPANY ("Lender"), or order, In lawful money of the United St,stsc o,/America, on demand, tho principal amounl ot Three Hundred Thousand & 00/lO0 BOilers ($3so,o0o.oa) or ~o much as may be outstanding, tooether with Interns1 on the unpaid outstanding Ixloclpal bidan~ of each advance. Interest Slt~Ii I;4 ealculaled h'om the cinte of carat advanpe unlll repeymenl of each advance. PAYMENT. BO~TOWas will pay tho ~ Imrnndt~t~, upon Lender's demand. In eoMItk~l, B~rrov;er will pay regular moathly paymeo1~ of ell ae.~rued unpaid Interest due a~ of each payment da~e, beginning ANNUM 22, 1~f7, with all subeequanl Internal paymenla to be due on tho saree day ~ ~Nieh month alter that. Interest on this Note Is computed on a 365/360 simple ]nterast hasla; that la, by applying the ratio of the nnnusL intt~est rate ovar · year of 380 days, multiplied by the outstandln~ pd~clpal balance, muIl~olled by the eotuel number of days the prtnsipal baLqnce is outstan~ng. BOrrDWOr wifl pay Lertder al Lender's address shown above or et such other piece as Lender olay d~nste in writing. Unless othsr~vise agresd or required by applicable law, payments wil be applied I~st to ac~road unpaid interest, then to prlnciDal, and uny remai~ng amount Io any unpaid odLeG00n ¢;~ts and late chergas. VARIABLE INT~ RATE. The interest rate on this Note Is subJeot to change from time Io time based en changes in an index which Is Lender's Prime Rate (the "l~dnx'~. This Is the rets Lender charges, cx would Ghargu, or1 90-~lay unsecured Inane tc the most credihvodhy OOq:~Drein euetemors. This rate rns. y or may net be the lowest rate ava]isbla from Lender at any gNan time. Lander Mil tell B~rower the current Index rate upon Berrewer'a request, ecxrowor uode~tend6 Ihat Lender ~y make Ioa~ls based on other ratas as wall. The Interest mtn change Will not c~cur more often than each DAY. TIle ineex curr~etly le ~.~00% per annum. The Intereat rate to be epplted to the enpatd pdnofpal balance of tote Note will ha al rats d 1A~O percentapa poinle over the Index, re~llloa In an I.lflal rMe of 9.7~'/, per armum. NOTICE: Under no ci~:umslan~as will the inlerast rate on thla Note be more ther~ Ihs me.mum mtn allowed by epplie, e. bla PREPAYMENT. Borrower n'~y pay 'Mlheut penalty MI or a porlion of the amount owed earlier Ihan It IS due. Early payments 'Mil not, unless agrsud to by Lender In writing, relieve I~orrewer of Borrower's ~llQatinn Io ~ontlnue te make payments of accrued unpaid inlerast. Rather, they will reduce the principal balance due. LATE CHARGE. If S regularly scheduled Inlerast payment is 1~ days or mere tale, Borrower will be charged S.0O0% Of the reguteny anheCtelad payment or $1.ad, whichever la greater. It Lender demands payment of this loan, and Borrower does not pay Ihs loan within 1° daya after Lender's demand, Borroerer also will be Chergerl atthar ti.so0% ot the sum of the unpaid prlnolpof plea accrued unpaid Interest or $1 WhlCitever te greater. DEFAULT. Borrower 'Mil ba in delaull If uny of the fGitowing happens: (e) Borrower tails to maks any paymanl when due. (b) Borrower breaks any promise Borrower has made to Lender, or Borrower lal[s Io comply with or 1O perform when due any other term, obl~geiton, covenant, or oondition oouteinad in this NMe or any agreement reislasi to this Note, or In soy ether agreerrtent or loan Borrower has with Lender, (c) Borrower defaults under any isbn, extension of c~l, seGudty agreement, purchase or sak~ agreement, or &ny other agreement, In favor of any ether ;raditor or person that rr~y matertofly sltect any of Bo~ower's property or Borrowers sbaity to repay this Bole or perform Borrowur's obligations under this NMe or any of the Related Douumenls. (d) Any representeiton or alatemenl made or (urnisheq to Le~der by Borrower or on Borrowm's behalf is false or misleading in toy material mSpeof allhor no~ or al the time made or tornished. (s) Sorrower basornas InSOlvent, a re.VNet is appointed Ior any part Of B~rowar's properly, Borrow~ rr~kas an assignment tot the banalll d ,~'edlters, or any proceeding is commanceq either by Borrower or against Borrower under any bAnkrLIptcy ca- Insolvency laws. (f) Any ~'edifor Ir~ to taka any of BorroweCs Dreparty on or In which Lender has e. lien or ~anertty intarast. This includes · gerntshmant of any of Borrower's accounts wilh Lsnder. (g) Any guarantor dies or any of ihs other e~ents described in 1his deh~ult section c~curs with re~oast to any guarantor of this Nola. (h) A matmlal adverse change occurs in Bor;owe~s ifnanclal condition, or Lender believes the pm~pec4 of payment ;x perfo~natx~ of Ihs Indebladneas is Impaired. (i) Lender in s~xl lalth deems itneff Insecure. If any delouit, other than a default in payment, Is ourable end II Borrower has not been given ,a noifce ol · Brach of the same provision of this Note 'Mthln the precedinG twelve (1E) months, II may be cued (ariel no event of default will have o~urrud) it Borrower. after re--ne wrlftan noitce Irom Lender dement/ne cure of such detsuit: (e) ~ the dafsult within fifteen (16) da~s; cx (b) it the cure requires more than fifteen (15) days, tmmediateey intl~tes stepa which Lender deems In Lander's sc~e discrellon to be sufficient to -'ute fha detsuit ann thereafter continues end complains all ;oasonnbln and cecassaty steps sufficient to produce compliance as soon as rsasonably prasttced. · LENDER'S RIGHT~. Upon delauit, Le~der may, after giving such n~ices as requlreq by '~ppllaebis law, dec,are the entire unpaid 0rlncipal balance on this NMe and alt anorund ~heald interest immediately due, end lhen Borrower will pay that em~nt. Upon deiauit, in~udlng failure to p~y upon final metlJ~tty, Lender', el tis opt!orr, may al~o, if pei~llifasl under epl~cabla law. Increase the va~abl~ interest rate on this Note to 6.250 percentage p~nts over the Index. The interest rate will nM exoeed the maximum rate permitted by appl~te law. Lender may hire or pny someone else to help colleof Ii'ds Note it Borrower does nM pay. Bc~rowar als0 v/dl pay Lender Ihat amount. This tnclu~k~, subject tn any limits under ap, plloable law, Lenders attorneys' fees end Lender's ~ expenses whether or nol there is · h~wsuif, Including attorneys' tsas and lanai expenses far bsnkrup~y proceedings (In~luding efforts t0 modity or vaoah) sty suloma~ slay or IoJur,,ofJon), appeals, and or~ anticipated pesHudgmenl ouiteciinn s~ce~ If not prohlblind by eppliGabte law, Borrower also ~ pay any ceu¢l ~ In addition to all other sums provided by law. If Judgment is eninred In cermesiton with lots Note. inte~ will cenllnce tO accrue on Ihla Note ~flar jt~dgmant at the interest rets appllaabla ~0 this NMe el the lima judgmenl is entered. TOte Nots ~ ~ delte~M tO I "nd~l' erid &~Jptel~ by Lender' Is the Come~llh Of Penasylvenlo. I1' them Itl · law~ult, Barrel, er agrees upon Lender"a request I0 ~Jbmlt to ~ JLIrlSdlGtIon of Ihs o0~Jrle of CUMBERLAND C~uoly, the Cornmenwealth of Penn~ylYenin. This NOte shall be g0~'Wlte~ I~y and ;en~'ueq In accordance Mb the inca of the Come--It of Penn~jtvante. RIGHT OF SETOFF. Borrower grsnla In Lender · coutrai~ual p0ssassory security Int~asl in. end hereby assigns, conveys, ~alivem. pledges, end trenslar~ to Lender all Borrower's tight, Ii'da end Interest in and to, Borrowers accounts with Lender (whether' checking, s~vings, or some other accounl)o Inoluding without llrndtellun all ancoonis held jointly with someone else and all accounts Borrower may span In the future, e~cluding however all IRA en~ KeoGh ancients, and all Irt~t accounts let which II~s G~'ant Of ~ sanurity Iole~asl would be prohibited ~y law. I~orrower autbedzes Lender, to Ihs extent ~enllltted by el:~.dilca bls law, to cha~ er seloff d sums owing on Ibis BOle against soy and au such accounts. LINE OF CREDIT. Thhs Ndie evh:tence~ a revof~ftg line of (~'~d0. Adva~ under ~ Nola may be requested molly by Borrow~ or by an euthoit;md person. All ~ reqcesla ~hall be eonitn'ned In wflifng on Ihs day of the request. All cemmunloaitnes, Insf~'ucifons, ur directions by telephone or c)l~tse to Lender ere to be directed to Lander's off, ce show~ ~bo~. The f~tewing pa~y or patios ~ antho~ to request advances under the EXHIBIT "A" 07-22-19~7 PROMISSORY NOTE Loan No 501-30001 (Continued) of credit unll Lender teoslves from Burrower a.t Lender's addrses shown abo~ written notice of revoualion of thor authority:. RIchard H. Garrelt, Pre~derlb'Sem'ets~/. Bor~wer agrees to be I~al)te ~er all sums etihm: (a) advanced In accordance with the Insltu~tions of an eutho~t,~d person or (bi orediled lo any of Bon'owe~s sec~ur~te with Lano~'. The unpaid p~iaelpal balance owing on this Note att any time may be evidenced by endorsements on th~$ No~e ~' by Le~:ter's internal moords, I~cludlng dally c~Router print-outs. Lender will have no ol~llgstlon to advan~'e funds under th~s Note If: (s) Borrower o~' any guarantor Is Iff deteult un~er' the terms of this NOte m any agreement thai Borrower er any guarantor has with Lender, incllJdlng any' agreeros~t made In ~onne~tlon with the signing of this Note; Co) Boerower or any guarantor ceases doing business or is Ir~olvent:. (c) any guarantor seeks., claims or ofheewise attempls 10 limit, modify or revoke such gua~nfer'e guarantee of thiS Note or any uther loan with Lender: (d) Borrower has applied funds pn~vtded pursuant te this Note ~or purposes ofh~ rnau those authorized by Lender;, m' (e) Lander In good faith deems itself Insecure under ti",ts Note or mn)' other agreemeof between Lender and Borrower. GENERAL. PROVISIONS. This Note is payable en demand. The Ir~l~aten of spe~fio default pro~ofoos or tights of Lender shall not pre~luds Lender's right to declare payment of this Note on its demand. Lender may' delay or forgo enforsthg any Of its rlgnts or reme(~es under thIs Note without losing them. Borrower ~ any other pa~on who signs, guarantees ~ endorses this Note, to the extent allowed by law, waive p~'eseofment, demand for payment, protest end notice nf o~shoaor. Upo~ amy change in the trams of this Note, end unless ofhenvise expressly sfat~l in writing, no 13mty who signs Ihts Note, whether as maker, guarantor, a~commodallofl maker ~r end~'z,~', she. Il be released from Iia.billty. All such parties agree that Lender may mrmw or extend (repeatedly and for any length of time) this loan. or mk~se any party or guarantor or cbltsteral; or impair, fall to reellL, e upon or perfect Landor's seeuflty interest in the sofia, tarsi; and take any other edaon deemed neoesssry by Lender without tile consenl of or notice to anyone. All such ~erttes also agree that Lender may modify Iflis loan without the eonsenl of or notice to anyone other than the pm'ly with whom the moclifluation Is mede. ti any podion of this Note is for any reaso~ date,'mined to be. unenforceable, it will not artist the enlorceablltiy of any olher provlsiorts o~' this Note. CONFESe~IO~I OF JUOGI~IENT. BORROWER k. IEREBY IRREVOC~Y AUTHORIZES AND EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COUFIT IN THE COMMONWEALTH OF PENNt~-'~q.VANUL OR ELSEWHERE, TO APPEAR AT ANY TIME FOR BORROWER AFTER A DEFAULT UN[3~R THIS NOTE, AND WITH OR WITHOUT COMFI_NNT FILED, AS OF ANY TERM, CONFESS OR ENI~H JUDOMENT AGAINST BORROWER FOR THE ENTIRE PRINCIPAL S~ OF THIS NOTE, ~ ACCRUED INTEREST, LATE CHARGES, AND ANY AND ALL AMOUNTS EXPENDED OR ^DV,6,NCED BY LENDER RELATING TO ANY COLLA'I~RAL SECURING THIS NOTE TOGETHER WITH INTEREST ON SUCH AMOUNTS, TOG~I'I-IER WITH COSTS OF SUrf, AND AN ATTORNEY'S COMMISSION OF TEN PERCENT (10%) OF THE UNPAID PRINCIPAL BALANCE ANO AC~ INTEREST FOR COLLECTION, BUT IN ANY EVENT NOT LESS THAN FIVE HUNDRED DOLLARS (~500) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY I~UE IMMEDIATELY; AND FOR SO DOING, THIS NOTE OR A COPY OF THIS NOTE VERIFIED BY AFFIDAVIT SHALL BE SUFFICIENT WARRANT. THE AUTHORITY GRANTED IN THIS NOTE TO CONFESS JUDGMENT AGAINST BORROWER SHALL NOT BE EXHAUSTED BY ANY EXERCISE O~ TI-IAT AUTHORITY, BUT SHALL CONTINUE PROM TIME TO TiME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNT8 DUE UNDER THIS NOTE. BOR,qOWER HEREBY WAIVES ANY RIGHT BORROWER MAY HAVE TO NOTIC~ OR TO A HEARING IN CONNECTION WITH ANY SUCH CONFESSION OF JUDGMENT, EXCEPT ANY NOTICE AND/OR HEARING REQUIRED UNDER APPLICABLE LAW WITH RESPECT TO E~ECUTION OF THE JUDGMENT, AND STATES THAT EITHER A REPRESENTATIVE Of: LENDER SPECIFICALLY CALLED THIS CONFE~IGN OF JUDGMENT PROVISION TO BORROWER'S A'ITENTION OR BORROWER ~ B~EN REPRESENTEO BY INDEPENDENT LEGAL COUNSEL. PRIOR TO BIG[~ING THIS NOTE~ BORROWER READ AND UHDER~rooD ALL TH~ PROVISIONS OF TI~IS NOT~ INCLUDING THE VARIABLE INTEREST RATE PROVIEIOIdS. BORROWER AGREES TO 'THE TERMB OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF ~ NOTE. THIS NOTE HAS BF..E~I BIGI~IED AND SEALED BY THE U~IDER~IGNED. erti H. Ga~retl, ~l~ent/Secrelery (SEAL) L&sE~F~O. Rea, u.~. P~ll. & ?.M. (~f., Vel'. $.a3~) 1 oB ?-CFI Fr °~e~Vl~lll~, I1~. All rlohil re$1rvlcl. IP~- o~lo [~IR~T~,L N ~I.0VLI IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff VS. GARRETT ELECTRONICS CORPORATION, Defendant CERTIFICATE OF RESIDENCE I, Jack F. Ream, Esquire, attorney of record for the Plaintiff, MANUFACTURERS AND TRADERS TRUST COMPANY, in the above captioned matter hereby certify the following: 1. Name and Address of Plaintiff MANUFACTURERS AND TRADERS TRUST COMPANY Troup Building 213 Market Street Harrisburg, PA 17101 2. Name and Last Known Address of Defendant GARRETT ELECTRONICS CORPORATION 149 Geary Street New Cumberland, PA 17070 DATED: November 21, 2003 KAIN, BY: BROWN & ROBERTS LLP York, PA 17401 I.D. 10241 Phone 1-717-843-8968 Fax 1-717-846-6676 E-Mail; JckReam@aol.com Attorney for Plaintiff Manufacturers and Traders Trust Company IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION: LAW MANUFACTURERS AND TRADERS : No. O ~' ~ TRUST COMPANY, : : Plaintiff GARRETT ELECTRONICS : CORPORATION, : : Defendant : CERTIFICATE OF SERVICE NOTICE OF ENTRY OF JUDGMENT I, Jack F. Ream, Esquire, attorney of record for the Plaintiff, MANUFACTURERS AND TRADERS TRUST COMPANY, hereby certify that on the 21st day of November, 2003, I caused a copy of the "Notice of Entry of Judgment," which is attached hereto, marked Exhibit "A" and incorporated herein by reference hereto, to be served upon the following parties by United States Mail, regular mail and certified mail, return receipt requested, postage prepaid by depositing the "Notice of Entry of Judgment" in the United States Post Office in York, Pennsylvania, addressed to the following party at the following addresses: GARRE']-]' ELECTRONICS CORPORATION 149 Geary Street New Cumberland, PA 17070 Certified Mail #7002 2410 0003 2267 4402 GARRETT ELECTRONICS CORPORATION C/O Richard H. Garrett, President 1709 Edgar Lane Camp Hill, PA 17011 Certified Mail #7002 2410 0003 2267 4419 DATED: November 21, 2003 KAIN, BROWN & ROBERTS LLP BY: J~"l~. Ream, Esquire 119 East Market Street York, PA 17401 I.D. 10241 Phone 1-717-843-8968 Fax 1-717-846-6676 E-Mail: JckReam@aol.com Attorney for Plaintiff Manufacturers and Traders Trust Company IN THE COURT Of COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff NO, GARRETT ELECTRONICS : CORPORATION, : Defendant TO: NOTICE OF ENTRY OF JUDGMENT GARRETT ELECTRONICS CORPORATION 149 Geary Street New Cumberland, PA 17070 GARRETT ELECTRONICS CORPORATION CIO Richard H. Garrett, President 1709 Edgar Lane Camp Hill, PA 17011 (x) NOTICE IS HEREBY GIVEN THAT A JUDGMENT IN THE ABOVE CAPTIONED MATTER HAS BEEN ENTERED AGAINST YOU ON NOVEMBER 21, 2003 FOR $327,038.35. (X) COPIES OF ALL DOCUMENTS FILED IN SUPPORT OF THE WITHIN JUDGMENT ARE ENCLOSED.~ Prothonotary~of Cu&~r~an~unty Civil Division . , If ou have an uesflons re ard~n th~s Not, I a y y q ' g ' g ' '~l~/p e ~ ~J~'~ attorney~ for the filing party being the Plaintiff, MANUFACTURERS AND TRABERS TRUST COMPANY: Jack F. Ream, Esquire 119 East Market Street York, PA 17401 I.D. 10241 Phone 1-717-843-8968 Fax 1-717-846-6676 Attorney for Plaintiff MANUFACTURERS AND TRADERS TRUST COMPANY (This Notice is given in accordance with Pa. R.C.P. 236) NOTICE SENT TO: GARRETT ELECTRONICS CORPORATION 149 Geary Street New Cumberland, PA 17070 GARRETT ELECTRONICS CORPORATION C/O Richard H. Garrett, President 1709 Edgar Lane Camp Hill, PA 17011 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CiVIL DIVISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff VS. GARRETT ELECTRONICS CORPORATION, Defendant No. '&/7 q PRAECIPE FOR WRIT OF EXECUTION UPON A CONFESSED JUDGMENT To the Prothonotary of Cumberland County: Issue a writ of execution upon a judgment entered by confession in the above matter. (1) Directed to the Sheriff of Cumberland County, Pennsylvania; (2) Against Garrett Electronics Corporation, Defendant; and (3) Against , Garnishee; (4) and index this writ (a) (b) as a lis pendens Against Garrett Electronics Corporation, Defendant; and Against , as Garnishee, against the real property of the Defendants as follows: (5) Execute on, levy upon and sale all right, title and interest of Defendant, Garrett Electronics Corporation, in all equipment, machinery, tools, furniture, fixtures, computers and all personal property of Defendant, Garrett Electronics Corporation, located at: 149 Geary Street New Cumberland, PA 17070 and 1709 Edgar Lane Camp Hill, PA 17011 (6) Amount Due $327,038.35 Interest from $ Attomeys' Fees Total $327,038.35 (Costs to be added) I certify that: (a) Certification This praecipe is based upon a judgment entered by confession, and (b) Notice will served with the writ of execution pursuant to Rule 2958.3 of the Pennsylvania Rules of Civil Procedure. Dated: November 21, 2003 Jack F. Ream, Esquire 119 East Market Street York, PA 17401 Telephone: 1-717-843-8968 Fax (717) 846-6676 E-mail: JckReam~aol.com Attorney I.D. No. 10241 Attorney for Plaintiff Manufacturers & Traders Trust Company Official Note: Under paragraph (1) when the writ is directed to the sheriffof another county as authorized by Rule 3103(b), the county should be indicated. Under Rule 3103(c) a writ issued on a transferred judgment may be directed only to the sheriff of the county in which issued. Paragraph (3) above should be completed only ifa named garnishee is to be included in the writ. Paragraph (4)(a) should be completed only if indexing of the execution in the county of issuance is desired as authorized by Rule 3104(a). When the writ issues to another county indexing is required as of course in that county by the prothonotary. See Rule 3104(b). Paragraph (4)(b) should be completed only if real property in the name of garnishee is attached and indexing as a lis pendens is desired. See Rule 3104(c). Certification as to waiver of exemption may be included in the preaecipe. Specific directions to the sheriff as to property to be levied upon may be included in the praecipe or by separate direction at the option of plaintiff. 1N THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CWIL DWISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff VS. GARRETT ELECTRONICS CORPORATION, Defendant PLAINTIFF'S AFFiDAVIT/AVERMENT CONFESSION OF JUDGMENT FOR MONEY ( X ) Pursuant to Pa.R.C.P. No. 2951 (a)(2)(ii), I certify 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 POSSESSION OF REAL PROPERTY ( ) Pursuant to Pa. R.C.P. No. 2971(a)(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.C.S. 4904 relating to unsworn falsification to authorities. 4 Date: November 2l, 2003 KAIN, BROWN & ROBERTS LLP By: 119 E. Market Street York, PA 17401 Telephone: 1-717-843-8968 Fax: 1-717-846-6676 E-mail: JckReam~aol.com Attorney I.D. No. 10241 Attorney for Plaintiff Manufacturers & Traders Trust Company WRIT OF EXECUTION and/or ATTACHMENT COMMONWEALTH OF PENNSYLVANIA) NO 03-6114 Civil COUNTY OF CUMBERLAND) CIVIL ACTION - LAW TO THE SHERIFF OF CUMBERLAND COUNTY: To satisfy the debt, interest and costs due MANUFACTURERS AND TRADERS TRUST COMPANY Plaintiff (s) From GARRETT ELCTRONICS CORPORATION, 149 GEARY STREET, NEW CUMBERLAND PA 17070 AND 1709 EDGAR LANE, CAMP HILL PA 17011. (I) You are directed to levy upon the property of the defendant (s)and to sell EXECUTE ON, LEVY UPON AND SELL ALL RIGHT, TITLE AND INTEREST OF DEFT IN ALL EQUIPMENT, MACHINERY, TOOLS, FURNITURE, FIXTURES, COMPUTERS AND ALL PERSONAL PROPERTY OF DEFT AT ABOVE LOCATIONS.. (2) You are also directed to attach the property of the defendant(s) not levied upon in the possession of GARNISHEE(S) as follows: and to notify the garnishee(s) that: (a) an attachment has been issued; (b) tile garnishee(s) is enjoined from paying any debt to or for the account of the defendant (s) and from delivering any property of the defendant (s) or otherwise disp6sing thereof; (3) ~f pr~perty ~f the defendant(s) n~t ~evied up~n an sub~ect to attachment is f~und in the p~ssessi~n of anyone other than a named garnishee, you are directed to notify him/her that he/she has been added as a garnishee and is enjoined as above stated. Amount Due $327,038.35 Interest Atty's Corem % Atty Paid $37.00 Plaint/ff Paid Date: NOVEMBER 21, 2003 (Seal) REQUESTING PARTY: Name JACK F. REAM, ESQUIRE Ad&ess: 119 E. MARKET ST YORK PA 17401 L.L. $.50 Due Prothy 1.00 Other Costs CURTIS R. LONG Prothonotary [ ~ . Dep. y Attorney for: PLAINTIFF Telephone: (717) 846-6676 Supreme Court ID No. 10241 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CW1L DIVISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff VS. GARRETT ELECTRONICS CORPORATION, Defendant NOTICE OF JUDGMENT AND EXECUTION REQU/RED UNDER RULE 2958.3 TO: GARRETT ELECTRONICS CORPORATION 149 Geary Street New Cumberland, PA 17070 GARRETT ELECTRONICS CORPORATION C/O Richard H. Garrett, President 1709 Edgar Lane Camp Hill, PA 17011 A Judgment in the amount of $327,038.35 has been entered against you as Defendant on November 21, 2003, in favor of the Plaintiff, MANUFACTUERS AND TRADERS TRUST COMPANY, without any prior notice or heating based on a confession of judgment contained in written agreements or other papers allegedly signed by you. The court has issued a writ of execution which directs the Sheriff of Cumberland County to take your money or other property owned by you to pay the judgment. If your money or property has been taken, you have the right to get the money or property back if you did not voluntarily or intelligently and knowingly give up your constitutional right to notice and hearing prior to the entry of judgment or, if you have defenses or other valid objections to the judgment. You have the right to a prompt court heating if you claim that you did not voluntarily or intelligently and knowingly give up your right to notice and hearing prior to the entry of judgment. If you wish to exercise this right, you must immediately fill out and sign the petition to strike the judgment which accompatfies the writ of execution and deliver it to the Sheriff of Cumberland County, Cumberland County Court House, One Court House Square, Carlisle, Commonwealth of Pennsylvania 17013. IT IS IMPORTANT THAT YOU ACT PROMPTLY. IT WILL BE TOO LATE TO REGAIN YOUR PROPERTY IF YOU WAIT UNTIL AFTER THE PROPERTY HAS BEEN SOLD BY THE SHERIFF OR TURNED OVER TO THE PLAINTIFF 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 OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU CAN GET LEGAL HELP. LAWYER REFERRAL SERVICE CUMBERLAND COUNTY BAR ASSOCIATION 2 LIBERTY AVENUE CARLISLE, PA. 17013 PHONE 1-717-249-3166 JACK F. REAM, ESQUIRE KAIN, BROWN & ROBERTS LLP 119 EAST MARKET STREET YORK, PA 17401 I.D. $$10241 PHONE 1-717-843-8968 FAX 1-717-856-6676 ATTORNEY FOR PLAINTIFF ALLFIRST BANK, f/k/a DAUPHIN DEPOSIT BANK AND TRUST COMPANY 2 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL DIVISION: LAW MANUFACTURERS AND TRADERS TRUST COMPANY, Plaintiff VS. GARRETT ELECTRONICS CORPORATION, Defendant No. PETITION TO STRIKE JUDGMENT REQUEST FOR PROMPT HEARING I, hereby certify that I did not voluntarily, intelligently and knowingly give up my right to notice and hearing prior to the entry of judgment. I petition the court to strike the judgment on this ground and request a prompt heating on this issue. I verify that the statements made in this Request for a Hearing are true and correct. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S. 4904 relating to unswom falsification to authorities. Notice of the heating should be given to me at: GARRETT ELECTRONICS CORPORATION 149 Geary Street New Cumberland, PA 17070 GARRETT ELECTRONICS CORPORATION C/O Richard H. Garrett, President 1709 Edgar Lane Camp Hill, PA 17011 Dated: ,2003 GARRETT ELECTRONICS CORPORATION By: SHERIFF'S RETURN - REGULAR CASE NO: 2003-06114 P COMMONWEALTH OF PENNSYLVANIA: COUNTY OF CUMBERIJtND MANUFACTURERS & TPJIDERS TR CO VS GARRETT ELECTRONICS CORP GERALD WORTHINGTON , Sheriff or Deputy Sheriff of Cumberland County, Pennsylvania, who being duly sworn according to says, the within CONFESSION OF JUDGE GARRETT ELECTRONICS CORPOP~ATION DEFENDANT , at 1858:00 HOURS, at 1709 EDGAR LANE CAMP HILL, PA 17011 RICHARD H GARRETT was served upon the on the 24th day of November , 2003 by handing to a true and attested copy of CONFESSION OF JUDGE NOTICE OF ENTRY OF JUDGEMENT SUBPOENA and at the same together with time directing His attention to the contents thereof. Sheriff's Costs: Docketing 18.00 Service 9.66 Affidavit .00 Surcharge 10.00 .00 37.66 Sworn and Subscribed to before me this /~ day of ~z~ ~ A.D. ro~honotary So Answers: R. Thomas Kline 11/25/2003 FAIN BROWN ROBERTS Deputy Sh~ff R. Thomas Kline, Sheriff, who being duly sworn according to law, states this Writ is returned ABANDONED, no action taken in six months. I "'"; Sheriff s Costs; " Docketing Poundage Advertising Law Library Prothonotary Mileage Misc. Surcharge Levy Post Pone Sale Garnishee TOTAL 18.00 1.68 .50 1.00 24.42 20.00 20.00 85.60 Sworn and Subscribed to before me this~daYOf~ 20urA.D. ;J-Jt',. () ~jp/. / .1fi ot onotary \' \ ~,' "1 ,\ f" I'l 0\1 I :.:; j " ~ id.l: ' .:L:!P~3H Advance Costs: 150.00 Sheriffs Costs: 85.60 64.40 Refunded to Atty on 12/14/04 ,~~.~ . R. Thomas I :e, S~' BY~. ,.L Q. 13; \9-~::.~L.X.k.1 "<!.J II ~O~ fi:\'.; .i j :)LUO ,/ c '" ,. ::::: '-(:, " ,-,:,~:' d'","" "J'i:) .1 I", t, ;, v '/'111) I c.J<L4~/7) D WRIT OF EXECUTION andlor ATTACHMENT COMMONWEALTH OF PENNSYLVANIA) COUNTY OF CUMBERLAND) NO 03-6114 Civil CIVIL ACTION - LAW TO THE SHERIFF OF CUMBERLAND COUNTY: To satisfy the debt, interest and costs due MANUFACTURERS AND TRADERS TRUST COMPANY Plaintiff (8) From GARRETT ELCTRONICS CORPORATION, 149 GEARY STREET, NEW CUMBERLAND PA 17070 AND 1709 EDGAR LANE, CAMP HILL PA nOll. (l) You are directed to levy upon the property of the defendant (s)and to sell EXECUTE ON, LEVY UPON AND SELL ALL RIGHT, TITLE AND INTEREST OF DEFT IN ALL EQUIPMENT, MACHINERY, TOOLS, FURNITURE, FIXTURES, COMPUTERS AND ALL PERSONAL PROPERTY OF DEFT AT ABOVE LOCATIONS. . (2) You are also directed to attach the property of the defendant(s) not levied upon in the possession of GARNISHEE(S) as follows: and to notify the gamishee(s) that: (a) an attachment has been issued; (b) the garnishee(s) is enjoined from paying any debt to or for the account of the defendant (s) and from delivering any property of the defendant (s) or otherwise disposing thereof; (3) Ifproperty of the defendant(s) not levied upon an subject to attachment is found in the possession of anyone other than a named garnishee, you are directed to notify himlher that helshe has been added as a garnishee and is enjoined as above stated. Amount Due $327,038.35 Interest Atty's Carom % Atty Paid $37.00 Plaintiff Paid Date: NOVEMBER 21, 2003 L. L. $.50 Due Prothy 1.00 Other Costs (Seal) ~':~"TI:t:~LONG_tJ J. ~". By: ~,. I .' '-/~ / Dep ty . REQUESTING PARTY: Name JACK F. REAM, ESQUIRE Address: 119 E! MARKET ST YORK PA 17401 Attorney for: PLAINTIFF Telephone: (717) 8AC.6fi1~"" 8'-/3- ",w5 Supreme Court ID No. 10241