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Home My WebLink About10-3463 IN THE COURT OF COMMON PLEAS OF THE 39TH JUDICIAL DISTRICT OF PENNSYLVANIA--FRANKLIN COUNTY BRANCH FRANKLIN FEED & SUPPLY CO., Plaintiff and Holder VS. Michael R Kutz and Mary J Kutz, husband and wife, Defendants and Makers : D.S.B. No. 3 943 of ,10 / 6 : JUDGMENT NOTE $61349.92 plus interest and costs t- , -b .o ;j ?a 1 JUDGMENT NOTE FOR VALUE RECEIVED, Michael R Kutz and Mary J Kutz, residing at 50 Cornman Drive, Carlisle, PA 17015„ hereinafter whether one or more called "maker", jointly and severally, promise to pay to the order of Franklin Feed & Supply Co., its successors and assigns, the sum of $61,349.92, plus interest thereupon at the rate of 10% percent per annum, as follows: The aforesaid principal and interest shall be paid in equal and consecutive monthly payments of $1979.59 each, with the first payment beginning on the 31st day of January, 2009 and a like payment being due on the same day of each consecutive month thereafter until said debt and all interest are paid in full. In the event of default or failure of maker to tender any monthly payment within five (5) days of the date when due, then the holder of this note shall be entitled to advance and accelerate all remaining monthly payments and shall be entitled to payment in full of the remaining principal balance, all outstanding interest and collection costs as further provided in the "Warrant of Attorney" hereinafter set forth. sal p P d PI CA,sk got J_w toy 7 f N a-f t" "I (e ek WARRANT OF ATTORNEY MAKER IRREVOCABLY AUTHORIZES AND EMPOWERS THE PROTHONOTARY, ANY ATTORNEY OR CLERK OF ANY COURT OF RECORD, AFTER DEFAULT, TO APPEAR FOR AND CONFESS JUDGMENT AGAINST MAKER FOR SUCH SUMS AS ARE DUE AND/OR MAY BECOME DUE UNDER THIS NOTE, MEANING THE ENTIRE REMAINING PRINCIPAL BALANCE PLUS ALL ACCRUED INTEREST, WITH COSTS OF SUIT, WITHOUT STAY OF EXECUTION AND WITH TWENTY (20%) PERCENT OF THE AMOUNT OF SUCH JUDGMENT, BUT NOT LESS THAN ONE THOUSAND ($1,000.00) DOLLARS, ADDED FOR ATTORNEYS' COLLECTION FEES. TO THE EXTENT PERMITTED BY LAW, MAKER RELEASES ALL ERRORS IN SUCH PROCEEDINGS. IF A COPY OF THIS NOTE, VERIFIED BY OR ON BEHALF OF THE HOLDER SHALL HAVE BEEN FILED IN SUCH ACTION, IT SHALL NOT BE NECESSARY TO FILE THE ORIGINAL NOTE AS A WARRANT OF ATTORNEY. THE AUTHORITY AND POWER TO APPEAR FOR AND CONFESS JUDGMENT AGAINST MAKER SHALL NOT BE EXHAUSTED BY THE INITIAL EXERCISE THEREOF AND MAY BE EXERCISED AS OFTEN AS THE HOLDER SHALL FIND IT NECESSARY AND DESIRABLE AND THIS NOTE SHALL BE A SUFFICIENT WARRANT THEREFORE. 2 CONFESSION OF JUDGMENT AND EXPLANATION OF RIGHTS 1. The undersigned, hereinafter called the "maker", has as of this date signed the attached JUDGMENT NOTE in favor of holder herein. The maker promises the full and prompt payment of all money now due and payable under the terms and conditions of this JUDGMENT NOTE. Maker acknowledges specifically understanding that the JUDGMENT NOTE contains a confession of judgment clause and that by signing the same: A. Maker will AT ANYTIME AFTER DEFAULT authorize any holder to enter a judgment against maker and in favor of the holder, which will give holder a lien upon all real estate of maker for the money due; B. Maker will give up the right to any notice, trial or opportunity to be heard before the entry of this judgment on the records of the Court; C. Maker agrees that any holder can enter this judgment without proof of non-payment or other default on maker's part; and, D. Maker will subject all property, both personal and real estate, to execution (and sheriff sale) pursuant to this judgment, prior to any trial or the proof of non-payment or other default. 2. The maker knows and understands that it is the CONFESSION OF JUDGMENT clause in the attached note which gives any holder the rights outlined in 2 Sub-paragraphs A through D in Paragraph 1 above. By signing the attached note maker knows that the following rights, among others, are lost or given up: A. The right to have a trial or notice and an opportunity to be heard before the judgment is entered in Court; and, B. The right to have the burden of proving default rest upon the holder before maker's property can be exposed to execution (sheriffs sale); and, C. The right to avoid the additional expense of attorneys' fees and costs incidental to opening or striking a confession of judgment. 3. Fully and completely understanding these rights and clearly aware that these rights will be given up, waived, relinquished and abandoned upon signing this note, maker nevertheless freely and voluntarily chooses to sign this note, his/her/its intention being to give up, waive, relinquish, and abandon the known rights (as previously described in Paragraph 2 above) and become subject to the circumstances described in Paragraph 1 above. 4. Maker acknowledges that the obligation described in the attached note is for business purposes only and that maker's annual income exceeds $10,000.00. 5. Maker hereby agrees that the holder of this note may assign the same at any time, without prior notice. 3 Executed the 28 day of January, 2009, with the intent to be legally bound hereb nd with t further acknowledgment that the undersigned has received a f I, fail, lawful co i?jeration on account of the execution hereof. /' --?7 / // 6. Maker acknowledges the opportunity to consult with independent counsel before signing this note. I/we acknowledge reading this entire form and fully understanding its contents before signing the attached JUDGMENT NOTE and this form, and further, understand that holder is relying upon the foregoing representations. Made and entered into this 28 day of January, 2009, with the COMMONWEALTH OF PENNSYLVANIA : SS COUNTY OF FRANKLIN Before me, a Notary Public, in and for said state and county, personally appeared the undersigned, herein called maker, whether one or more, who being duly sworn according to law, deposes and says that for value received by them, the undersigned intentionally and voluntarily signed on this date the attached judgment note payable to holder in the amount of $61,349.92, plus 4 /,.exRress intte/ o be leg ?ly bound. interest thereupon at the rate of 10% per annum. Maker further acknowledges that all of the terms of said judgment note have been explained; maker knows that said judgment note contains an authorization for the Prothonotary or any attorney of any court of record in Pennsylvania or elsewhere to appear for maker and confess judgment against maker; that maker understands the meaning and effect of confession of judgment; that maker hereby intentionally, voluntarily and understandingly waives the rights lost under Pennsylvania law as a result of signing said judgment note, including the right to have prejudgment notice of hearing, the right to have a trial with the burden of proof on the creditor and the right to avoid the expense connected with opening or striking a confessed judgment; that maker understandingly and voluntarily consented to signing said judgment note, that maker read, understood and signed this Affidavit prior to signing said judgment note; that the income of maker exceeds $10,000.00 and this JUDGMENT NOTE was given in connection with a business transaction and not as a consumer loan. Sworn and subscribed to before me this 28 day of January, 2009. 0 taryPublic COMMONWEALTH OF PENNSYLVANIA Notarial Seal Stacy L. Heckman, Notary Public Greene Twp., Franklin County My Commission Expires March 18, 2011 Member, Pennsylvania Association of Notarles 5 CERTIFICATION OF ADDRESS FOR PLAINTIFFS I certify that the Plaintiff's mailing address is 1977 Philadelphia Avenue, Chambersburg, PA 17201. Frafikh N Feed &,%4plv Co By CERTIFICATION OF ADDRESS FOR DEFENDANT I certify that the Defendants' address is 50 Cornman Drive, Carlisle, PA 17015 p, 6 Pa€ Amortization Table for $61349.92 borrowed on Dec 31, 200 Month Year 1 2009 2 2009 3 2009 4 2009 5 2009 6 2009 7 2009 8 2009 Payment ($) 1979.59 1979.59 1979.59 1979.59 1979.59 1979.59 1979.59 1979.5'. Principal Paid ($) 1468.34 1480.58 1492.91 1505.36 1517.90 1530.55 1543.30 1556.11 Interest Paid ($) 511.25 499.01 486.68 474.23 461.69 449.04 436.29 423.42 Total Interest ($) 511.25 1010.26 1496.94 1971.17 2432.86 2881.90 3318.19 3741.6' Balance ($) 59881.58 58401.00 56908.09 55402.73 53884.83 52354.29 50810.98 49254.8 Month Year 1 2010 2 2010 3 2010 4 2010 5 2010 6 2010 7 2010 8 2010 Payment ($) 1979.59 1979.59 1979.59 1979.59 1979.59 1979.59 1979.59 1979.5E Principal Paid ($) 1622.09 1635.61 1649.24 1662.99 1676.84 1690.82 1704.91 1719.12 Interest Paid ($) 357.49 343.98 330.35 316.60 302.75 288.77 274.68 260.47 Total Interest ($) 5662.04 6006.02 6336.37 6652.97 6955.71 7244.49 7519.17 7779.64 Balance ($) 41277.30 39641.69 37992.45 36329.46 34652.62 32961.80 31256.89 29537.7E Month Year 1 2011 2 2011 3 2011 4 2011 5 2011 6 2011 7 2011 8 2011 Payment ($) 1979.59 1979.59 1979.59 1979.59 1979.59 1979.59 1979.59 1979.59 Principal Paid ($) 1791.95 1806.88 1821.94 1837.12 1852.43 1867.87 1883.43 1899.13 Interest Paid ($) 187.64 172.71 157.65 142.47 127.16 111.72 96.16 80.46 Total Interest ($) 8864.72 9037.43 9195.08 9337.55 9464.70 9576.42 9672.58 9753.04 Balance ($) 20724.91 18918.03 17096.09 15258.96 13406.53 11538.66 9655.23 7756.10 9 9 10 11 12 2009 2009 2009 2009 I 1979.59 1979.59 1979.59 1979 59 . 1569.13 1582.21 1595.39 1608 69 . 410.46 397.38 384.20 370 90 . 4152.07 4549.45 4933.65 5304 55 . 47685.68 46103.48 44508.08 42899 39 . 9 2010 10 2010 11 2010 12 2010 1979.59 1979.59 1979.59 1979 59 . 1733.44 1747.89 1762.45 1777 14 . 246.15 231.70 217.14 202 45 . 8025.79 8257.49 8474.63 8677 08 . 27804.33 26056.45 24294.00 22516 86 . 9 2011 10 2011 11 2011 12 2011 9 1979 59 . 0 1963 23 . 1.63 M 16 36 . 9915 30 . 3 .23 0.00