HomeMy WebLinkAbout02-14-08 (2)
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IN THE ORPHANS' COURT of CUMBERLAND COUNTY, l'A~
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Estate No. 2120070753;
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In the matter of :
JOSEPH PAK BElL
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NOTICE of CLAIM of PRAMCO III, LLC
TO THE CLERK OF THE ORPHANS' COURT:
PRAMCO III, LLC, a creditor of the above-named decedent, hereby presents the
following claim against the Estate of Joseph Pak Beil, deceased, to the Executor thereof for
approval, as follows:
1. On or about March 31,2004, Manufacturers and Traders Trust company ("M&T")
granted to the Defendant a line of credit in the maximum principal amount of $50,000.00 (the
Line"), and the Defendant, made, executed and delivered to M&T a Business Access Line of
Credit Note (the "Line Note"), in like amount, to evidence the indebtedness.
2. A true and correct copy of the Line Note is attached hereto, made a part hereof,
and marked Exhibit "A".
3. Allfirst was merged with, and into, M&T effective April 1, 2003.
4. On October 27,2005, M&T, as successor by merger to the Lender, sold and
assigned the Term Loan to the Plaintiff.
5. A true and correct copy of a Lost Note Affidavit, which contains the assignment
to the Claimant at Paragraph 5 thereof, is attached hereto as Exhibit "B".
6. The Note has not been further assigned, and the Plaintiff is the current holder
thereof.
7. As of February 6, 2008, the amount due under the terms of the Note (which
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matured on January 25, 2008) is as follows:
Principal Balance
Interest to February 6, 2008
Accrued Late Charges
TOTAL
$ 47,592.31
16,493.28
2.379.62
$ 69,122.51
8. No payments have been made, nor do offsets of any type exist, that have not been
B .
TER & STEIN, P.C.
credited.
Date : February 11, 2008
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Manufacturers and Traders Trust Comoany, 5219 Simpson Fe:ry Roac, Me-c:-anicsburg, PA 17055
7175971515 Ft.?1? 6913197
Beil, Joseph dba Beil Consultants ("Applicant")
390 I Hartdale Drive Suite liD
camp Hill, pa 1701 r
March 3 I, 2004
Dear Applicant:
Coograrulationsl We are pleased to infonu you that your loan appliC3tion has beeo approved for a Business Access
Line of Credit, as follows:
.-\mount:
Interest Rate:
Repayment:
5.50,000.00
Prime +1.50%
en demand; absent demand, monthly paymem:s as per statements
In addition to the basic tenns outlined above, enclosed is the BtlSiness A.ccess Line of Credit Agreement (CRB-047
(10/03)) ("Agreement"), which further descnbes the stmdard tenDs and. conditions for your loan.
Read the agreement carefully. Please indicate your acceptance of this offer and all the terms and conditions
cODtained in the. Agreement by (i) signing below on behalf of the Applicam, and (il) returning che original counter,
signed letter to me at the address above.
This offer shall remain open to the A.pplican[ for 14 days from the date of this letter. at which time, if you have not
accepted the offer (by signing and renrrning this letter, as descnbed above), this offer shall be cke=d withdra?n
and ibis letter shall serve as notice that the Applicant's original credit :1pplicarion has been denied
If you have any questions, please call me prior to your acceptance or ~ termination of this offer.
Very cruly yours.
~fuer S UL.
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Relationship !v1anager
By signing below 00 behalfo( the AppliC3tion. ....wlic:ant admowledges that it has t=1 %JOd undermnd.s and hereby agr= to ~ ;ound by
tr.e terms and condlnoosJi.lhc-...~enl,.md 'for vaJ~ re<:cived. and inlending to 0.. ~ oound, AP1lH~tprtlmises to pay to 1M order
oiM:mUli.clUm'S 3wTraders tfust COn1pl1ly\Bank") oJl .moWllS due llOd owing free time :0 rim: pursuant to :.'le lemlS outlined above
:....,d a.l coraained-iil the A~~ Applic1l1t understar.ds th3t acceptance of the ~ ::lno: is not complete until this le= (properly
;:ounteT-Sisn;a'beIO~W) is dolivrn~.. dC$(ribed.. above.
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Business Access Line of Credit Agreement
Pursuant ~o the Business Express Credit Application (or other similar app:icatlon signed by the Borrower), Borrower and Manufacturers and Traders
TrJst CJmpany agree 10 the terms ana condlllon:; of this Agreement.
1. Definitions. Each capilaJlzed term shall have the meaning specified herein and the following terms shall have the indicated meanings:
a. "Accounr means,the buslness.purpose line of credit established in 8orrower's name, as described in the Approval Letter.
b. "Account Salance" means Ihe total ot Loans. Annual Fees, late marges, over.the-Jimit charges. stop payment C/'larges, interesl, finance
charges and any olt1er amounts posted to and owing under the Account or this AgreemenL
c. -Agreement" means, collectively, lt1is Sustness Access Une ot Credit A.greement. as it may be amended or replaceD from time :0 time, togethei
with lt1e terms ~o conditions in the Application and Approval Lerter.
d. '..~pplicable Rate" mearys the rate equal to the Bank's prime rate 'Ji interest ('Prime'). plus the applicable number of percentage palms set
!orth in lt1e Approval letter. Ar1y change in the Bank's prime nata shall be eifectrve on the first day ot your Billing PeriOd occurring in the
calendar ':luaner aHer such change occurs.
e, -Application" means the Business Express Creoit Application (or otler similar applicatiOf1) you submitted to us.n ~nnec:ion with your lequest
for a business-ourpose line of cfeoiL The tex! of the Application is incorporate<i herein by reference. All capitalized terms not otherwise defined
herein have the meanings specifiea in the Application.
t. '.A.pproval lener" means the lerter we send to you nctitying 'Iou lJ1a your Applicaiion has been approved. in 'HtIOle or in part, ana serting fof1h
the baSic terms of the Account and any other approved financial acccmmodations. The tenms of lhe Approval Letter are incorporated herein
by reterence. .
g. '9~ling PariO(( means any period ot approximately Of1e month, at :he end ot which we compute the amount 10 be billed under your Account.
h. "Checking Acmun( means the commercial chad<ing or NOW account YO!l maintain WIth Us'Nhid1 you requested. in your Application, be linked
10 ttle A=unt for overdraH prote<:'jon, ,,' .
I. "Credt Une" means the maximum principal amount available under your Account, 'Nhich will initially be the amount set tonh in the Approval
U!lter wilJ1 respect to the Account, but which may thereafter be a~us\ed by the Bank in its sole discretion. without prior notice to Borrower.
j. "Wne ot Credit Chad<' means any direct loan check thaI is issued by the Bank for use with your Account.
k. "Loan" means any amount of credit ootained under your Account JY any authori<:ed means, including, without limitation, by a Une of Crecit
Check or by any other means desc:ibed below in the seelion entlfled "Loans", and pOSted 10 and owing under your Account.
I, "Minimum Repayment Fraction" means 1/36 of the outstanding principal amount ot all loans at Ihe end ot the last day any Loan was poSled
to your Account beiore the end of a Billing Period.
m. "Periodic Rate" means Ihe Applicable Rate in effect on the day oi calculation, divided by 365.
n. "'Ne", "us". "our", 'ours" and "BanJ(' means Manufacturers and Tradars Trust Company, a New York banking corporation 'Nith its principal bank,
ir:g offi~ at One M & T Plaza. Buifalo, NY 14.240. AtlentiOf1: Ctfice ot Generai Counsel.
o. "You', "you(' and "Borrower" means the party ioentified as !he Applicant in the .l\pplication.
2. Credit Une. Subject to the terms and conditions of tl1is Agreement, l~e Sank may make Loans to you at any time and from time 10 time on and
after the date 'Iou accept this Agreement in t/'le ac:;gregate prindpal amcunt up 10 but not exceeding the Cre<iil Une. The B~k Soall notily l1e
Borrower as to the amount 01 the Credit Une Itom time to time.
3. Promise to Pay. Sorrower promises to napay to tl1e Sank t/'le Account Balance UPON DEMAND. You can pay your A~ount 8aJ~ce in iuJl al any
time wtthout penalty. All payments must be in Unite<! States funds. Absent demand. Borrower may borrow, repay ana re-borrow up to the maximum
amol.:fT1 of :he C;eoit Une. all in acccrdance 'Nlth the terms and conditions of this Agreement.
4. Loans. Borrower may request a !.Dan by using a Une of Creoit Check, using an M& T Bank ATh1 card CJ' Business Check card linked :0 'lour
Ac::oum. toget/'ler .,.,;th your PIN. at any Sank electronic fadlities. using M&T Web 8anking tor Business or by uSing any other elec-Jonic means, All
Loans are disc:etior.ary. If the Checking Account is tied to your Account for oven:lratt protection, you authorize us to make a loan ana aeocsit it into
tiIle Checking Account without noti~ to you or your consent. it (I) at1 item is presenle<l against !he Checking Account Qncluding, withoui limitation.
checks. fees or sef\'ices charges) 01 you wilhdnaw tunds or make a lransfer from suc!, Checking Accounl and (ii) the available tunes in such
Checking Ac-"Ount ana not sufficient to pay such item or make tt1e withdrawal or transfer. The amount of such overdraft Loan shall not be less than
the difference between Q) the amount ot available tunas in the Checking Account and (IT) the amount necessary to pay the item presented agalnst
the Checking Acco\;(lt or to effectuate the withdrawal or transfer. You waive protest, presentment and noti~ of any klnd in connec:lon 'Mt/1 Itlis
Agreement. A loan is considered made on the date we post it to tt1e Account. You agree not 10 neques1 a Loan: (i) which would cause your Account
Balance 10 exceed :he C:edit Une: or (Ii) as a payment on 'Nhat you owe to the Bank on the Account or on any other indebtedness from you 10 the
Bank or any of our affiliates e:dsllng now or coming into existence in the future. It tt1e Sank should make any Loan in excess at the C:edit Line. 5UC:1
excess Loan shall not be deemed to constltufe an increase in the Credit Une and sum excess loan shall be due and payable UPON DEMAND.
6. f'ayments. Borrower may repay the Account Balance without premiurr or penally in whole or in part from time to time. Absent demand tor repay'
ment in full. you shall pay, by the due dale shown on any statement iar 'your Accounl. at least the minimum payment shown on the statement
("Minimum Paymenr). The Minimum Payment wlll be the total of:
a. The gleater ot (i) the Minimum Repayment FraC:lCn. or Oil ll1e lesser of (3) S 1 0 or (b) tile outstanding principal amount of all Loans at lhe ood
oi the Billing ,"erioa:
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b. ,All chatges fer annual lees, late c."argt .lVer.the-limn charges, step payment chatges. char~ ,or unpaJd ctlecXs, dishonored checl<
charges, E.~penses. and Interest finance charges postoo to your Account during the Billing Period; and
Co The Minimum Payment shown on the preceding statement lor your Acccunt to the e)(\em that tt remalns unpald at the end of the Billing Period.
Indusion in the Minimum Paymenl ot :his item (c) wdl not give you any aadl~onaJ ~me to make sue." payment, and it will remain immediately
due. Paying more than the Minimum Paymem will nct relieve you of the Obligation 10 pay any Minimum Payment shown on any future Slate-
mentS lor your Account.
Borrower hereby authorizes and direc'.s the Bank to autcmatiC3.lIy charge and deduct. from the Checking Account or any other such account 01
Borrower maintained at any office at the Bank ("Aula-Deduct Accounr'). Ihe Minimum Payment and otller charges due from lime 10 lime unoer ;he
terms 01 this Agreement. Sorrower acknowledges ana unde~tands that the act 01 charging, paying and/or deducting the Minimum Payment each
mon1h does not In any way compromise ltle demand nature ot tile Accounl Balance, nor any other rights ot the Bank under this Agreement
6. Default Rate. If you fail 10 pay any amount under tt1is Agreement wI1en due. we may in our sole discretion. increase the Applicable Rate to an
annual rate equal to 5 percentage pointS per year above the Applicable Rate, notwithstanding any otherwise applicable Rate RedUCtion (oenned
below) (the "Oefa~it Rate1. and any judgment entered herfion or otherwise in connection with any suit to collect amounts due hereunder shall bear
interest at sucn Detault Rate. The maximum interesl rate charged under your Account shall in no event exceed the maximum rate permitted by appli-
cable taw (the 'Maximum Legal Rate"). Solely 10 Ihe exient necessary 10 prevent interest under this Agreememlrom exceeding the Maximum Legal
Rlite. any amount that would be treated as excessi....e under a final judicial interpretation of applicable law shall be deemE!<J 10 ha....e been a miStake
ana automatically canceled. and. if recei....ed by us. shall be retunded to you.
7. Finance Charges.
a. Accrual ct Rnance Charges. Finance charges wm begin to accrue on any amount included in your Account Balance on the day it is posted
to your Account.
b. Computation 01 FInance Charges. The finance charge will be calculated as follows:
i. Each day in the 8ilOng Period. we will staft wilh your Accounl Balance al lhe beginning oi that day. We will add to it all Loans pos:eo 10
your Ac=our.l that day and subtract from it all payments and credits posled to your Account that day and aJl Charges for .~nu2J ~~. lale
cnarges. over-ll1e-limit charges. cl1arges .lor unpaid Une of Credit ChackS. dishonOred ched< charges and finance charges indue eo in your
Account Balance after the application oi the payments ana credits to your Account Balance. The result will t:€ the 10lal 01 Loans induCed
in your Account Balance for that day. . I .
ii. Each day in the Billing PeriOd. we will multiply the total 01 Loans indujed in your Account Balance tor that day by the Periodic Rale in effect
on that day tor Loans. The resull will be the finance cl1arge lor Loans for ).hat day. ' .
iil. We will add uo ttle finance charges for Loans ior all the days in the Billing Period. If your ac::ount also acts as an overoraft line 01 credit for
a Checking Account. included among the finance charges will be a Loan service cl1arge for advances made to prevent overdrawing your
chedOng ~unt which wm be S1.00 for each such overcraft Loan posted to your A=urn. We may cnange !he overdraft e."arge frem lime
:0 time in our sole discretion.
c. Interest Rate Reduction. After ltle six month annive~ 01 the creation of the Account, the Applicable Rate shall be reduced by 0.5 pen:entage
points ("Rate Reduction'1, until the oc::urrence of one or more ot the following events (eae."; a "'Termination Event"): (I) the average availalJje daily
balance in the Auto-Deduct A=um during the first six monlhs 01 the Accounl. or ouring any six month period thereafter. falls below $;0.000;
(il) aulomaJic deouc:ion of Minimum Payments from lt1e Auto-Deduct Account is terminated. suspended or modmed for any reasen whatsoever.
including. '.vrthcUllimilation. !he dosing 01 the Auto-Deduc: Account or lI1e revocation 01 your aulhorization (or ;toe automatic dE!<Juc:icn; (Ii) you
fail to pay when due (wnether upon OefT'.and. by acceleranon or othe/\.,;se) arTy amount due under lt1is Agreement, or you olherwise deiWt on
your obligations under lt1is Agreemen[ or any olt1er agreement 'Nitti us or any of our affiliates; or (iv) you commence. Of have commenced against
you. arTy procee<ling or request for relief under any bankruptcy, insolvency or similar laws now or hereafter in effect in the Uniteo States of
America. or any state or territory thereet. or any foreign jurisdiction. or any formal or informal proceeding for the dissolution or IiqulOation of, sel-
nement of daims against or winding up of your affalrs. Upon the occurrance of any Termination Event, the Rate Reduction shall automatiCally
terminate withcut furtl'ler notice to you. and Interest shall thereafter accrue at the Applicable RaJe. As described above. any DefauJt Rate shall be
caJculated based on the AppHc<lble Rate. without the benefit of the Rate Reduction. Our failure ,0 immediately terminate lt1e Rate Reauc:ion uocn
:he oC:;:.mer.ce of SJ'Iy Termination Event snail not be deemed a waiver of our right to do so. nor of your obligation to pay intereSt aJ lt1e Aooiic<U,'e
Rate (or Default Rate. if applicable) from the elate of the Termination Event, even if paymems calculated using the Rate Reduction are accepteo
by us after :he Termination Event.
a. Fees. Charges and EJCpenses. You agree to pay ON DE.'vlANO (I) all applicable fees and charges as set forth below and as may be amended
from time to time at our sole discretion, and (i1) the E.xpenses as defined below:
a. Annual Fe€. You will pay a non-rsfundable Annual Fee at 5250.00. This is a fee lor the convenience of 1aving your Account and coes not
entitli! you !a any assurance at having a specified amount ct Credit available under your Account for a speCiied period ot time. Tnis fee will
be billed :0 your Account upon the creation ct the Account. and each year thereafter. as !cng as your Account remains open, ~mether or :-:01
credit is oc:taineo uooer your Account.
b. Late Charges.lIlt1e minimum payment shown on any statement for your Account is ovemue lor 10 or more days. you must pay a lale charge
which shalf be either at the following as we may select in our discretion 0) $20 or (iI) 5% of such minimum payment shown on a statement
for your Account.
c. Over-tt1e-Limit Charges. If your Account Balance exceEY'...s your Credit une al any time during any Billing Period. you must pay an cver-it1e-1imit
cnar<;e of 520 for the SU/ing Perioa.
d. SlOp .:>ayrnem Charges. You will pay a slap payment charge ot 520 fcr each stop payment order we process at your request. as :escribea
below in a laler section of Ihis Agreement.
e. tl1arges for Vnoaid Une o( Credit Checks. For each line 01 Credit Check thal we do not pay because you are in violation of, or our paying
!hat Une of CrecH Check would cause you to be in violation 01. any provision of this Agreement. you musI pay a charge of S20 for that Une
ot C,edit Check.
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f. Dishonored Check Charges. II you use a check to pay any amount owing under your ACCDunt and the check is not paid, you must pay a
diShonored check charge nol in e,llcess 01 the amount permit1ed by applicable law.
g. E.~pensas. You sMII pay on demand. all costs and expenses incurred by us from time to time with regard \0 Ihis Agreement (inducing without
limitation attomeys' fees and disbursements whether for Intemal or outslde counsel), nll90tiallng or documenting a workout or restructuring. or
preserving its rights or realizing upon any guaranty or olher security for the payment due under this Agreement ("Expenses").
9, Appllcatlon and Credlllng 01 Payments.
a. Appllcalion 01 Payments. Payments may be applied In any order in our sole discretion but, prior 10 demand, we will apply any payment post-
ed to your Ac..."'Ount during any SiIIlng Period \0 your Account Balance atlhe beginning of ihe Billlng Period in the lollowlng order. (1) finance
charges for Loans, (2) charges for unpaid Une ot Credit Checks and dishonored check charges. (3) annual fees. (4) late charges, over.!he
limit charges, ana SlOP payment charges, (5) Loans.induded in the Minimum Payment Shown on the statement tor your Account lor the pre-
cecing Billing Perioa, (6) lotal Loans shown on the statemenlfor your Account for the preceding 8111/ng Period. and (7) new Loans.
b. Crediting. Except to the extent required by appliCable law, any payment we receive for application 10 your Accounl 8alance need not be post-
ed to your Account or considered to have been made until the fifth day after the date we receive il unless it is (1) made in Uniteo SlateS funds.
in cash or by account-specific check or money order payable to the order 01 the Sank and delivered in person, (2) accompaniea by a pay-
ment siUb for your Account ana (:3) received by us althe payment adClress set forth on your statement or at any branch office of the 8ank.
10. proceeds ot Loan. The proceedS of the Loat1s shall be use<l solely tor business or commerdal purposes ot Borrower and specffically nol ;or invest.
ing in or financing the purCilase of "marc;;in Slccl<' as such term or terms or similar purport and effect Shall be defined in Regulation U promulgated by
the 80artt of Govemors oi the Federal Reserve Sys:em. as may now anc from time 10 time hereafler be in effect Borrower specifically represents
and warrarns :0 !he BanI< that it is not engaged principally, or as one 01 its imoortant acti'.ities, the business of exlenaing credit tor the purpose ot
purchasing or carrying margin stccX and that no part 01 the proceeds of any Lean will be used lor any purpose whicn violales or which is inccnsis;ent
with the provisions of Regulation X promulgated by said Board of Govemors. It requested by the Bank, Borrower ,,-.ill tumish to the Bar.k a statement
in conformity wi1t1 the requirementS of FeoeraJ Reserve Form U.1 referred to in said Regulation U and to the foregoifl9 effect
'1. RepresentaUons, Warranties and Covenants. You hereby represent. warram and covenant. so long as your A=unl remains in effec: and there
remains outs'.aOOng and unpaid any Account Balance, as follows: The Loan pr~s shall be used only tor a business or commercial purpose
and nOt ior any personal. family or household purpose. Borrower is an entity or a sole proprietor (i) duly organized and existing and in good Stallo-
ing undef the laws of the jurisdiction in which it was formed. (ii) duly qualified and authorized to do business in every jurisdiction in which failure
to be so qualified might have a material adverse effect on its business cr assets and (Iii) has .tne power and authority to own each 01 its assets
and to use them as contemplated now or in ihe future. The acts 01 applying (or and accepting the Accounl (i) are in furtherance of Borrower's
purposes and within its power ana authOrity; (Ii) do not violate (A) any law or judgment or order of court or other govemmental authOrity or oi any
arbitrator or (8) Borrower's goveming documents; (m) do nOl consti1ure a default unoer any agreement binding on Borrower, or result in a lien on
any assets oi SorTOwer. and (iv) have been duly authorized by all necessary corporate. partnership or Jimiled liability company or pannership
actions. 8clrTower conduc1s lIS business and opera1ions and the ownership of its assets in compliance wilh each applicable statute, regulation and
other law, inclUoing. wilt10ut limitation, environmental laws. All approvals, induding without limitation. permits, licenses. registrations and noUces
(the' Approvals") necessary to the conduct of Borrower's business and tor Borrower's acceptance 01 the Account have been duty obtained and
are in full fOrl:e and effect without default by Borrower. Borrower shall provide to the Bank upon request. in form and number ot copies satisfactory
to lhe Bank. within 90 oays atter the end of each fiscal year of Borrower, copies of Borrower's year~nd lax retums and statements of income, cash
~ows and 1I1e ~nal'lCial position and balance sheet oi Borrower as of the fiscal year end. each prepared and reviewed in accordance with generally
accepted accounting principles by an independent certified public accountant acceptable 10 Ihe Sank. and each in reasonable detail and certtfied
by an officer or member of Borrower to present fairly the results of80rrower's operations and cash flows and its financial posiUon, and to be correct.
complere and in a=rdance with Borrower's records. Promptly upon the request of the Bank from time to time, Borrower shall supply all additiOnal
information requested and shall permit the Bank and its agents to (A) visil and inspect each ot 9orrower's premises. (B) examine. audit. copy and
extract from Borrower's records and (e) discuss 8orrower's or its affiliates' business. operations. assets or condition (financial or other) with its
responsible officers and independent accountants. Borrower will maintain a system of accounting and reserves in accordance with generally accept-
ed a=unting prir.dples. has filed and will file eac.'11aX retum required oi it and. except as disclosed in an attached schedule. has paid ano wll! pay
when due e<lc:l tax. assessment. fee and penalty imposed by any laxing authority upon Borrower or any 01 its assets or income. as well as alt
amounts owed to med1anics. malerialmen. landlords. suppliers and the like in the ordinary course of business. There is no pending or :11reaieneo
c'.aim. investigaticn or other legal proceeding or judgment or order ot any CJurt or other govemmental authority or aroitrator (each an - Action1 wrk,')
involves Borrower Of its assets and migh1 have a malerlal adverse eff8C1 upon 80rrower or threaten the validity of Borrower's acceptance oi 'he
A~unt and any Loans pursuanltheretO, and the terms thereof. Borrower will immediately notify the Sank in writing upon acquiring knowiedge ot
any such Action. Borrower will immediately notify the Bank in \vriting (i) of any change in its name, organizational stt1JClUre or address. (ii) of the
oc...-urrence of any Event ot Defaull. (iiil at any material change in Borrower's ownership or management and (iv) 01 any male rial adverse change in
Borrower's ability :0 repay the Loans. Until tile Obligations are paid in full. Borrower shall not without the prior written consent of the Bank (i) sell or
otherv.ise dispose of substantially all of its assets. (ii) acquire substantially all of the assets at another eolity. (Iii) participate in any merger. consoli-
dalion or other absorption or (Iv) agree to do any of these things.
12. Sank Recoros Canduslve. We will maintain on computer. the date ana original prindpal amount of each Loan and your Account Balance. The
Account 9alance SO maintained shall be presumptive evidence of the Account Balance unaer this Agreement. No failure by the Bank to make, and
no error by the Bank in maklng, any annolation on any such computer shall affect your obligation \0 pay the ';ccoum Balance or any other obligation
hereunaer,
13. SetoH. In addition to the right to charge the Aulo-Oeduct Account lor \he amount of the Minimum Payment as set forth above. the Bank shall
have the righl to sel oft against the amounts owing under your Account any property held In a deposit or other account with us or any of our affiliales
or ottlerwise owing by us or any of our affiliates in any capadty 10 you. Such seto()ff shall be deem9{j \0 have been exercised immediately at the
time !he aank or such affiliate elec:s to do so.
14. Cancellation, Modiflcatlon, Suspension or Other UmilaUan. You may cancel your .l\ccDunt at any lime by notifying us In writing. The cancella.
tion will nOl take eHect until we receive the notice and have a reasonable time to ae; on it. The Ac:;ount Is available subject 10 our continuing review
and right of cancellation, modification, suspension or other limitation al any time and for any reason 'Nithout any notice 10 you. The cancellation,
modification, suspension or other limitation '.villlake effect immediately unless we oJecide otherNise in our sole oiscretion. It '(ou cancel your Account
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or leam tt1st we have canceled \1. you must stop using il. prohibil furtl1er \-sa 0111 and relum to us all unused Une of Credit Checks. Uyou leam tMat
we have suspend eo your Account. you must slop using it and prohibit further use of it. If you leam that wo have placed any other limitation on your
Account. you must use it only In a=rdance with that limitation and prohibit ils '.JSe except in accordance with that limitation. C~cellation of yo~r
Account by you or cancellation. modification. suspension or other limItation of your Account by us WIll n01 aHeet any of your obligations under thiS
Agreement. All agreemenls, covenanls, representations and warranties maDe in the Agreement shall survive the execution and delivery of this
Agreement. and the making and renewal of the Loans. and shall contlrue in full force and effect until Account has been lermlnate<l and all the
AccOLOl1t Balances are been paiD In lull.
15. Une 01 Credit Chl!(;ks Our Property. Sacn Una 01 Credit Check is and will remain our property and, upon our request. must be rerumed 10 us.
16. Statements; los1 Una of Credit Checks. Any slalement for your Ac::ounl will be sent 10 your currenl mailing address shown in our records
ccnceming your Account. Any nOllce you send us conceming any loss, lheft or possible unauthorized use or any Une of Credit Check must be sem
10 M& T aank. P.O. Box t 303 Bullalo. New Yon< 14240-4091.
17. Notices. Any demand or notice hereunder or under any applicable law pertaining hereto shall be in writing and duly given if delivered 10 Borrower
{at its aDdress on the Bank's records I or to the Bank (at its address on the Approval Letter and separately to the Bank officer responsible for
Borrower's refa~onshjp wilh the Bank). Such notice or demand shall be deemed sufficlentty given tor all pUf1)OSes when delivered ~) by personal
delivelY and shall be deemed eHec1ive when delivered. or (ii) by mail or courier and shall be deemed etfedive three (3) business oays after deposit
in an official depository maintained by the Un/tea States Post Office for the collection of mail or one (1) business oay after delivBfY to a nationaJly
recogniZed ovemilfhl couner service (e.g., Federal Express). Notice bye-mail is not valid notica under this or any other agreement Oetw8€n
Borro'~r ana the Bank. No notice provided 10 Borrower shall entitle Borrower 10 any 01her or further nolice in other or similar circums1ances unless
expressly provided for herein.
18. Slopping Payment at Une 01 Credll Check. You can order us not 10 pay any Une of Credit Check even if lhe Une of Creon Checl< was signee
by scmeone else. We will not have to follow the oreer unless it indudes (i) your Account number, (il) the exac: amount. date and number (it any) oi
the Une of Credt Check. ~ii) the name, exaC1\y as it appears on the Une of Credit Check. of everyone 10 whose order the Une 01 Credit Ched< is
payable and (iv) the name. exactty as it appears on the Une of Creoi! Check. of the person who signed the Une oi Credit Checl<. We 'Nill nol have
10 tollow the order until we have a reasonable time to record it against your Accourn. )'ou will be charged a fee. as described abOve. for each order
that we process. We can. but we will not have to. Ireal more than three orders not 10 pay a Une of Crenil Check as effectiVe at any time. You can
cancel any order nolto pay a Una of Creeit Check even ff the order was given by someone else. We '.vill not have 10 foUow the cancellation unless
it is in writing and until we have had a reasonable time to record it against your Account. We )vill in good faith try ~) not to pay any Line 01 Creeit
Check ltlat we have been properly ordered nol 10 pay and ~i) to pay any line crt Credil Check ror',Nhich an order not to pay has been property caIl-
celect. We may be responsible only jf we fall to exercise ordinary care 10 m avoid paying any Une of Credil Check :hat we have been property ordered
not 10 payor (ii) follow the proper canceUatlon of any order not 10 pay a Une 01 Credil Check. We ......ill have exercised that ordinaJy care if 0) we aa
in good faith. (iil we have a reasonable sys1em for communicating orders of that type and cancellalion of orders of thaI type 10 our employees ana
agents who would be likely 10 receive the Une of CrOOt Check and (i1i) we reasonably follow the system as a matter of rouline.
19. Changes. Exceot as set forth below, no change in this Agreement or waiVer of any right or remedy hereunder can be made exceprln a writing
signed by us. No course o( dealing or other conduct, no oral agreemenl or representation made by us. Bank. and no usage of trade, shall opera1e
as a waiver ot any right or remedy of the Bank. No waiver of any right or remedy of the Bank shall be effective uniess made specifically in writing
by the Bank. E.~cepllo me extent prohibiled by applicable law. from time 10 time in our sole discretion we can change (i) any term of :his Agreement,
(IT) any aspect of your Account and {ill any lee or other charge appllcaole to your Accounl including. without limitation, Ihe Annual Fee. !he Ulte
Charges. the Over-ltie Umit Charges. the Slop Payment Charges and Ihe Dishonored Check Charges. In connection lvilh any changes due to
operaIional and technological changes or changes in law. such change shall be effective immediately. Any other changes shall be effective ten (to)
days after notice is given. Your use 01 the Credit line atter being provide<i with notice of any change shall be deemed acceptance of the terms and
conoitions of such c.'1ange.
20. Mls~Haneous. This Agreement (together with any related oocuments) ccmains the entire agreement berlleen you and !he Sank with respec:
to ltie Agreemern. and supersedes every course of dealing, other conduct. oral agreement and representa~cn previously made by us. All rights ana
remeoles of the Bank under applicable law ana this Agreement or amendment of any provision' 01 this Agreement are cumulative ana not exclusive.
No single. partial or oefayea exercise by the Bank of any right or remedy shall preclude the subsequent exercise by ltie Bank at any tlme of any
right or remedy ot the Sank without notice. You agree thai in any legal proceoong. a copy of this Agreement kepI in the Bank's course 01 business
may be admitted into evidence as an original. This Agreement is a binding obligation enforceable against Borrower and its successors al)d assigns
and shall inure to the benefit ot the Bank and ils successors and assigns. except thai Borrower may not transfer or assign any of its rights or inlerest
herelll'lCer with the prior written consent of the Bank. If a coon deems any provision of this Agrl1ement invalid. the remainder of the Agr8€ment shall
remain in elIecl Section heaDings are tor convenienCe only. Singular nunber indudes plural and neuter gender includes masculine and feminine
as ~proprtate. '
21. Joint and Several. tlthere is more !han one 80fTOwer. each of them shall be jointly and severally liable for all.amounts which become due under
this Agreement and the tenn "Borrower". "lOll' ana "lour" shall indude each as well as all ot them.
22. Governing Law; Jurisdlct1on. This Agreement has been delivered 10 and accepted by the Bank and will be deemed :0 be made in ltie State of
New York. This Agreement Will be inlerpreted in accoroance with the laws 01 the Stale of New York eXcludIng ils conffiC1 of laws rules. Borrower here-
by Im:vocably consents to the exdusJve jurisdlc1lon at any sta1e or fe<:teral court In New YorK State where the Bank maintains a brancl1 and con-
sents that the Bank may effect any service of process In the manner and at Borrower's address sel tor1h above for providing notice or demand; pro-
vided that nothing contained In this Agreement Will prevenl the BanK from bringing any action, enforcing any <!Ward or jUdgment or exerclsing any
rights against BOfTOWer individually, against any security or against any property at Borrower within any other county, s1ale or other lorelgn or
domestfc jurisdiction. Borrower ad<nowledges and agrl1es ltiat the venue provided above is the most convenient forum for bolti ltie Bank and
Borrower. Borrower waives any objection to venue and any objection based on a more convenient forum in any action instituted under this Agreement.
23. Waiver ot Jury TriaL You and the Bank hereby knowingly, voluntarily, and Intentionally waive any right to trial by jury you and the Bank may have
In any action or proceedIng. In law or in equity. In connect1on wtth this Agrnemem or the transactions related hereto. You represent and warrant that
no representative or agent of the BanK has represamed. expressly or olherM$e, Ihal 1he BanI< will not, In the evem at 1~lgllllon. seek 10 e1ltorce this
jury trial waiver. You Ad<now1edge that tlle Bank has beef1lnduced to enter Imo Ihls Ag~ment by, among other things. the proViSIons at this Sec<Jon.
!;:2C03 ,'Aa.oulactlJrers ana Tfd(jers Trust C.:lmPal1'l
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This instrument prepared by
and after recording. return to:
Pramco III. LlC
6894 Pins ford-Palmyra Road
200 CrossKeys Office Park, Suite 230
Fairport. NY 14450
2006 FEB 23 Prl 12 09
ASSIGNMENT OF NOTE, MORTGAGE AND
OTHERLOA~DOCU~ffi~TS
THIS ASSIGi\TNlENT OF NOTE, MORTGAGE AND OTHER LOAN
DOCUMENTS (this "Assie:nment") is made by i\lANUF.-\CTURERS A.'\O TRADERS
TRliST COMPANY. for itself and its prcdecesso;'s in interest. whose address is One
Fountain Plaza, Buffalo. New York 14203-1495 ("Assignor"), to PR.-\~\'ICO Ill. LLC.
whose address is 6894 Pittsford-Palmyra Road. 200 CrossKeys Office Park, Suite 230,
Fairport, ~e\'.' York 14450 ('"Assignee"). pursuant to the terms of that certain Asset Sale
Agreement dated October 19. 2005 (the "Sale Agreement'') behveen Assignor and
Assignee. Capitalized terms used herein and not .ot~erwise defined shall have the
meanings ascribed to them in the Sale Agreement.
THIS ASSIGNMENT WITNeSSES THAT, in consideration of Ten Dollars
(SI0.00) and other good and ,'aluable consideration paid by Assignee, Assignor hereby
assigns. transfers. sets over and conveys. effective as of October 27, 2005, to Assignee
and its successors and assigns, without recourse and without representation or warranty.
whether express. implied or created by operation of law, except as expressly set forth in
the Sale Agreement, the following:
Th~~t certain Open-End !vlortgage dated March 3, 2005, by Joseph P. Beil, to
and for the benefit of assignor. recorded March 7. 2005, in Book 1899, Page
1420. of the public records of Cumberland County, Pennsylvania (the
":v-lortgage''). which Mortgage secures that certain obligation, naming Joseph
P. BeiL as Obligor. together with any and all assignments thereto and
moditications thereof (the '"Note"), together with such other documents,
agreements, instruments and other collateral that evidence. secure or
othenvise relate to Assignor's right, title or interest in and to the Mortgage
and/or the Note, including without limitation the title insurance policies and
h:\Zard insurance policies that might presently be in effect.
The Real Property or its address is commonly known as 4 Briargate Road.
!\1echanicsburg, Silver Spring Township, Cumberland County, Pennsylvania and has a
Parcel Identification Number of 38-23-0571-037. .
~oo~ 72.5 P,\GE 128
S:\.LO.....SS\CQlnpal1y 5~'.5~13001l)\t\ssi!!-nm<:nt 01 Note, Mort\'."11-e and Other Loan Docum<:rI\:;;,doc
THIS ASSIGNMENT FtJRTHER WITNESSES THAT Assignor hereby conveys
and quitclaims to Assignee my and all right and interest it might have in the Mortgage,
Note and other loan documents referenced above. and in the underlying loan and hereby
joins in the conveyance of the Mortgage. Note. loan documents and loan to Assignee.
without recourse and without representation or warranty. whether express. implied or
created by operation ofla\\', except as expressly set forth in the Sale Agreement.
c-.; WITNESS WE-! EREOF, Assignor has caused this Assignment to be executed
and delivered by its duly authorized agent as of the 27th day of October, 2005.
~~ ~
Witness~ ~
i\1ANUFACTliRERS Ai\D TR"'-DERS TRUST
COMPAl'iy' as Assignor
~~'-&
72-1wL
By:
Timothy P. Sheehan
Its Authorized Agent
ACKNOWLEDGME~T
COUNTY OF MONROE
)
)S5.:
)
STATE OF NEW YORK
On the tuay of February, 2006, before me, the undersigned. personally appeared
Timothy P. Sheehan, personally known to me or proved to me on the basis of satisfactory
evidence to be the individual whose name is subscribed to the within instrument and
acknowledged to me that he executed the same in his capacity. and that by his signature
on the instrument. the individual, or the person upon behalf of which the individual acted.
executed the instrument.
La.! L-It:i IJ .
Notary Public
, ~ 12 ' .....t..-,...-,a.-Y)
LAURA A. SEIDMAN
Notary Public, State of New York
Qualified in Monroe County
Commission Expires: ;k11~/oC4
Certificate of Residence
I hereby certify. that the precise address of the Assignee, Pramco III. LLC, herein is as
follows: 6894 Pittsford-Palmyra Road, 200 CrossKeys Office Park, Suite 230. Fairport.
New York 14450. ~ ~
J C;rtil~' U;is to be recorded By: \!~ .
In \..-umoerland County P A Timothy P. Sheehan
Its Authorized Representative
tf::;~=;c"{,"~'- p'" ;-:,"?-
\ \J.:.~t5;fr" 3jO~ 725 PAGE t2~j
.... Recorder 0 f Deeds
S:\LOAl';S\Comp;my : ~\5~2300i9'A>signrm:nl oi ~ole. Mortgage and Other l"an Do<:ulrn:nlSdoc
02/12/2009 10:40
5853772901
MIDWEST
PAGE 02/03
IN THE ORPHANS' COURT of CUMBERLAND COUNTY, PA
In the matter of :
JOSEPH PAK BElL
Estate No. 2120070753
VERIFICATION
TlMOTIlY P. SHEEHAN, deposes and says, under penalty of 18 P.S. ~4904, that he is
an Authorized Representatjve of the Claimant, that he is therefore authorized to execute this
Affidavit on its behalf, that to the best of his knowledge, information and belief, the facts set forth
in the foregoing Claim are true and correct, and that this verification is being given subject to the
penalties of 18 P .S. ~4904. pertaining to unsworn falsification to authorities.
The Affiant further states that to the best of his knowledge, information and belief, based
upon a review of the Claimant's business records, there are no payments or offsets for which the
decedent is entitled to credit that have not already been applied against this indebtedness.
~.
TIMOTHY P. SHEEHAN, Authorized Representative
By:
Date: February 1.1, 2008
IN THE ORPHANS' COURT of CUMBERLAND COUNTY, PA
In the matter of :
JOSEPH PAK BElL
Estate No. 2120070753
CERTIFICATE of SERVICE
I, William J. Levant, do hereby certify under penalty of 18 P.S. ~4904, that I caused a true
and correct copy of the foregoing Notice of Claim, with exhibits, to be sent to :
Lowell Gates, Esquire
1013 Mumma Road, Suite 100
Lemoyne, PA 17043
and
Leanne Beil
22 Royal Palm Drive
Mechanicsburg, PA 17050
ON THIS DATE: Z(fZ/ce
BY.
OFF ~ER & STEIN, P.c.
"
'>..~
".....
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