HomeMy WebLinkAbout04-2472TO:
Cumberland Valley Cooperative Association
908 Mt. Rock Road
Shippensburg, PA 17257
RE:
Grant A. Forsythe
Samantha E. Forsythe
1000 Meetinghouse Spring Road
Carlisle, Pa.. 17013
Demand Note in the amount of $8,000.00
Dated April 29, 2004
The Undersigned hereby certifies in connection with the loan above
referred to secured by a Demand Note containing a confession of judgT~ent
authorizing any attorney or prothonotary of any court of record in
Pennsylvania or elsewhere to confess judgraent against the Undersigned: That
the loan for which said Note was given is not a consumer loan; that the
income of the Undersigned (conjugal income if both spouses executed the note)
is Ten Thousand {$10,000) Dollars or more; that it was orally explained and
fully understood by the Undersigned that the execution of a Demand Note
containing a confession of judgraent clause was a waiver of the right to have
a prejudgment notice and hearing, the right to have the burden of proving
default on Curmberland Valley Cooperative Association, the Creditor, and the
right to avoid expenses attendant upon opening or striking a confessed
judgment and that the Undersigned voluntarily executed the said Demand Note
with a confession of judgTaent clause knowing that the aforesaid rights have
been waived and that an execution may be issued on a judgment entered on said
confession against their property.
The Undersigned further certifies that they were advised and understood
that they could have an attorney examine the said Demand Note and any other
documents in connection with the loan prior to execution.
WI TNESS:
COM~MONWEALTH ~ PENNSYLVANIA:
COUNTY OF-- ,'~- ~"~['~ ],' ~ ~,..'
(SEAL)
(SEAL)
according w~, deposes and says that the
the above certification are true and correct.
duly sworn
facts set forth in
Sworn t.Q and subsErib.$d before me,
this~_~ day of /~p. ~ , ~-~O~
,
Grant A. Fors~he
Samantha E. Forsythe
1000 Meetinghouse Spring Road
Carlisle, Pa. 17013
INSTALLMENT PAYMENT AGREEMENT
AMOUNT: $8,000.00
Shippensburg, Pennsylvania
April 29, 2004
In installments as hereinafter stated, for value received,
I/we, promise to pay to Cumberland Valley Cooperative
Association, 908 Mt. Rock Road, Shippensburg, Pennsylvania, the
sum of Eight Thousand Dollars (8,000.00) with interest on the
unpaid principal at the rate of 10.0 percent per annum from date
hereof until paid in full. Said principal sum and interest
shall be payable in equal successive monthly installments of
500.00 each, commencing on the 25th day of May, and continuing
until October 25, 2005, at which time any unpaid balance of
principal hereof and all interest accrued thereon shall be due
and payable in full. All payments shall first be applied to
interest due, with the balance to be applied to principal.
Upon default in payment of any such installments or of
interest when due, or upon failure of the makers to pay for each
purchase on or before the date of their next purchase from
Cumberland Valley Cooperative Association, the whole of the
principal sum then remaining unpaid and all interest accrued
thereon, shall, at the option of the holder hereof, become
immediately due and payable, without demand notice.
A_nd further, I/We do hereby authorize and empower any
attorney of any court of record of Pennsylvania or elsewhere to
appear for and to enter judgment against us, in favor of any
holder of the Note for the above sum with costs of suit, release
of errors, without stay of execution, and with fifteen (15%)
added as a reasonable attorney's fee, and I/We do hereby waive
and release all benefit and relief from any and all
appraisement, stay or exemption Laws of any state not in force
or hereafter to be passed.
WITNESS:
BORROWER:
Grant A. Forsythe
Samantha E. Forsythe
PRINCIPLE
INTEREST RATE
MONTHLY PAYMENT
PMT #
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
PMTAMT,
500.00
500.00
500.00
500.00
500.00
500,00
500.00
500.00
500.00
500.00
500.00
500.00
500.00
500.00
500.00
500.00
500.00
122.16
INTEREST
66.67
63.06
59.41
55.74
52.04
48.31
44.54
40.75
36.92
33.06
29.17
25.25
21.29
17.30
13.28
9,22
5.13
1.01
PRINCIPLE
433.33
436,94
440.59
444.26
447.96
451.69
455.46
459.25
463.08
466.94
470.83
474.75
478.71
482.70
486.72
490.78
494.87
121.15
8,000.00
10.00%
500.00
BALANCE
7,566.67
7,129.72
6,689.14
6,244.88
5,796.92
5,345.23
4,889.77
4,430.52
3,967.44
3,500.50
3,029.67
2,554.92
2,076.21
1,593.51
1,106.79
616.02
121.15
0.00