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PROMISSORY INSTALLMENT JUDGEMENT NOTE
$16,000.00 July 5, 2001
FOR VALUE RECEIVED, AND INTENDING TO BE LEGALLY BOUND
HEREBY, BRIAN K. BROWNAWELL AND DONNA L. BROWNAWELL, having
an address at 801 Sandbank Road, Lot ~, Mt. Holly Springs, Cumberland County,
Pennsylvania (hereinafter whether singular or plural called the "Maker") promises to pay
to VASILIKI MALLIOS of 224 Heisers Lane, Carlisle, Cumberland County,
Pennsylvania, (hereinafter called the "Payee") the sum of Sixteen Thousand and 00/100
($16,000.0(1) Dolhirs, with interest thereon at the rate of Twelve and Nine-tenths Percent
(12.9%), per annum, said principal and interest being payable in One Hundred Twenty
(120) monthly successive installments of Two Hundred Thirty-Seven and 95/100
($237.95) Dollars per month, the first installment payable on August ~, 2001, and the
remaining installments on the same day of each month thereafter, each installment when
paid to be applied first to the payment of interest accrued on unpaid principal and the
residue thereof to be credited to the principal.
The Maker hereby expressly agrees that in case a default shall be made in the
payment of any of the aforesaid installments, or any parts thereof, as and when the same
shall become due and payable, then, in any such case, all unpaid principal then accrued
thereon shall, at the option of the holder of this Note, forthwith become due and payable,
without demand and notice.
Maker does hereby authorize and empower the Prothonotary, Clerk of Court or
any attorney of any court of record in the Commonwealth of Pennsylvania, or elsewhere,
to appear for it and ,with or without declaration filed, confess judgment against it for the
above sum with costs of suit, release or errors, and without stay of execution, and with
fifteen (15%) percent added as part of the judgment for attorneys' fees for collection. The
undersigned and each endorser hereby waive presentment, demand, protest, and notice of
protest and nonpaymern. Make fully understands and agrees to the attached Explanation
of Rights which is incorporated herein by reference.
THIS NOTE MAY BE RECORDED AS A JUDGMENT AGAINST THE
MAKER WITHbUT PREVIOUS NOTICE TO MAKER AND MAY HAVE AN
IMPACT UPON THE CREDIT HISTORY OF THE MAKER.
The failure of Payee to declare this Note due and payable on the Maturity Date
shall not constitute a waiver of a~ of Payee's remedies, and the same shall be available to
Payee until such time as this Note is satisfied.
• ,~~
The words `payee" and "Maker" whenever occurring herein shall be deemed and
construed to include the respective heirs, successors or assigns of Payee and Maker, and
the term "Maker" shall be deemed and construed to include the singular, as well as the
plural, and masculine, feminine and neuter gender, or vice versa. This instrument shall be
construed according to and governed by the laws of the Commonwealth of Pennsylvania.
1N WITNESS WHEREOF, Maker has duly executed this Note this ~~ day of
July, 2001.
WITNESS: MAKER:
rian K. ownawell
~(_.Il Q.~-U
Donna L. Brownawell ~
MAKERS ADDRESS:
801 Sandbank Road, Lot # a 4
Mt. Holly Springs, PA 17065
EXPLANATION OF RIGHTS
A. I clearly and specifically understand that by signing the foregoing
Promissory Judgment Note dated even date herewith in the amount of $16,000.00 (the
"Note"), payable to Vasiliki Mallios (hereinafter the "Holder") which contains a
confession of judgment clause:
1. I will authorize the Holder to enter a judgment against me in Holder's favor
which will give the Holder a lien upon any real estate which I may own,
including my home.
2. I will give up the right to any notice of opportunity to be heard prior to the
entry of this judgment on the records of the court.
3. I will agree that the Holder can enter this judgment without any proof of
nonpayment of other defauh on my part.
4. I will subject all of my property, both persoz~l property and real estate, to
execution (and sheriffs sale) pursuant to this judgment prior to proof of
nonpayment of other default on my part.
5. I will be unable to challenger this judgment, should the Holder enter it, except
by a proceeding to open or strike the judgment; and such a proceeding will
result in attorneys' fees and costs which I will have to pay.
6. I know and understand that it is the confession of judgment clause in the Note
which gives the Holder the rights enumerated above.
B. IF I DO NOT SIGN A NOTE WHICH CONTAINS A CONFESSION OF
JUDGMENT CLAUSE I UNDERSTAND THAT I WOULD HAVE THE
FOLLOWING:
~. The right to have notice and an opportunity to be heazd prior to judgment.
2. The right to have the burden or proving default rests upon the Holder before
my property can be exposed to execution.
3. The right to avoid the additional expense of attorneys' fees and costs incident
to opening or striking off a confessed judgment.
C. I fully and completely understand these rights which I have received prior
to signing the Note and am clearly aware that these rights will be given up, waived,
relinquished and abandoned i>~I sign the Note. Nevertheless, I freely and voluntarily
choose to sign the Note, mY intention being to give up, waive, relinquish and abandon my
know rights (as descn'bed in Paragraph B above) and subject myself to the circumstances
descn'bed immediately above.
D. I hereby certify that I, a signatory to the Note, which has a confession of
judgment clause, have earnings of $10,000.00 or more per yeaz.
WITNESS:
I HAVE READ THIS ENTIRE FORM
AND FULLY UNDERSTAND ITS
CONTENTS
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Brian K. Br well
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Donna L. Brownawell
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