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HomeMy WebLinkAbout01-0894M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff ARAFAT MASWADEH Defendant : IN THE COURT OF COMMON PLEAS : OF CUMBERLAND COUNTY, : PENNSYLVANIA ; ; : CIVIL ACTION - LAW ; : crv TEVaV zoo1- NOTICE YOU HAVE BEEN SUED IN COURT. IF YOU WISH TO DEFEND AGAINST THE CLAIMS SET FORTH IN THE FOLLOWING PAGES, YOU MUST TAKE ACTION WITHIN TWENTY (20) DAYS AFTER THE COMPLAINT AND NOTICE ARE SERVED, FILING IN WRITING WITH THE COURT YOUR DEFENSES OR OBJECTIONS TO THE CLAIMS SET FORTH AGAINST YOU. YOU ARE WARNED THAT IF YOU FAIL TO DO SO, THE CASE MAY PROCEED WITHOUT YOU AND A $UDGMENT MAY BE ENTERED AGAINST YOU BY TIdE COURT WITHOUT FURTHER NOTICE FOR ANY MONEY CLAIMED IN THE COMPLAINT OR FOR ANY OTHER CLAIM OR RELIEF REQUESTED BY THE PLAINTIFF. YOU MAY LOSE MONEY OR PROPERTY OR OTHER RIGHTS IMPORTANT TO YOU. YOU SHOULD TAKE THIS PAPER TO YOUR LAWYER AT ONCE. HZ 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. THIS FIRM IS A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. THIS NOTICE IS SENT TO YOU IN AN ATTEMPT TO COLLECT THE INDEBTEDNESS REFERRED TO HEREIN, AND ANY INFORMATION OBTAINED FROM YOU WILL BE USED FOR THAT PURPOSE. HZ YOU HAVE PREVIOUSLY RECEIVED A DISCHARGE IN BANKRUPTCY, THIS CORRESPONDENCE IS NOT AND SHOULD NOT BE CONSTRUED TO BE AN ATTEMPT TO COLLECT A DEBT, BUT ONLY AS ENFORCEMENT OF LIEN AGAINST PROPERTY. CUMBERLAND COUNTY BAR ASSOCIATION 2 LIBERTY AVENUE CARLISLE, PA 17013 (717) 249-3166 M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff ARAFAT MASWADEH Defendant IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION - LAW CIVIL TERM 2001 ~ Yq¢ C~Le COMPLAINT AND NOW, comes M & T Bank Corporation, successor by merger with Keystone Financial Bank, N.A., formerly Farmers Trust Company, through its Attorney, William A. Duncan, Esquire, and files this Complaint in Mortgage Foreclosure, of which the following is a statement: 1. The amount in controversy in this action exceeds $50,000.00. 2. Plaintiff.is Keystone Financial Bank, N.A., a corporation organized and existing under the laws of the Commonwealth of Pennsylvania with its main office and principal place of business located at 1 West High Street, Carlisle, Cumberland County, Pennsylvania 17013. 3. Defendant is Arafat D Maswadeh, an adult individual with a last known address of 335 N. West Street, Carlisle, Cumberland County, Pennsylvania. 4. On or about May 12, 1995, Defendant made, executed and delivered to Plalntiffa Promissory Note (the "Note") in the original principal amount of Fifty-two Thousand Dollars ($52,000.00), a copy of said note being attached hereto as Exhibit "A". 5. Said note has not been assigned. 6. The provisions of Section 403 of Act No. 6 of 1974, 41 P.S. 403 do not apply as the original amount of the loan is in excess of Fifty Thousand ($50,000.00) Dollars. 7. The provisions of Section 2 of Act 91 of 1983, 35 P.S. 1680.403c do not apply as the Defendant no longer owns any property subject to the loan which is his principal residence. 8. Said note is in default because Defendants herein has failed to pay the required monthly installments of principal and interest due and owing for the months of March 2000 through February 2001. 9. At, er demand by Plaintiff, defendant has failed to pay said installments of principal and interest. 10. As per terms of the Note, upon default and failure to cure such default after notice, the whole of the principal, interest and late charges due thereunder are collectible forthwith. 11. The following mounts are due on said Note: A. Principal Balance $ 48,303.83 B. Interest ~ 9.25 % from 3/12/00 to 2-8-01 $ 4,058.51 C. Late Charges $ 236.75 D. Attorney's Collection fee $ 2,629.95 TOTAL: $ 55,229.04 WItEREFORE, PlaintiffM & T Bank, demands judgment against the Defendant, in the amount of Fifty-five Thousand Two Hundred Twenty-nine and 04/00 ($55,229.04) together with interest continuing from February 8, 2001 at the per diem rate of $12.42 and cost of suit. Attorney for Plaintiff 1 Irvine Row Carlisle, PA 17013 (717) 249-7780 CERTIlqCATION OF COlVlI~ERCIAL TRANSACTION I, John I?. Stover, hereby verify that I am a Loan Workout Officer, ofM & T Bank, and, as such, duly authorized representative ofM & T Bank, deposes and says subject to the penalties of 18 Pa. C.S. Section 4904 relating to unswom falsification to authorities that the underlying transaction relative to this Complaint in Confession of Judgment is a commercial transaction to the best of his knowledge, information and ,~ohn' P. Stover _ VLoan Workout Officer M& TBank JPrincip,,~ j Loan Date i Uaturity j Loan No i Call Collateral Account ~ Officer J Initials J · S52,000.00 ! [0S-12-20.20.' I i ! t PGF i ~"-- Retarences in the shaded ares ere for Landar's-~se only and do not li~it the applicability of this document to any particular loan or item· E~orrower: Mat'at Maswedeh 131 E.. South Street Carlisle, PA 17013 Principal Amount: $52,000.00 Lender: Farmers Trust Company Plaza Office One West High Street C~tl~e, PA 17013 Date of Note: May 12, 1995 PROMISE TO PAY. I promise to pay to Farmers Trust Company ("tender"), er order, In lawful money of the United States of America, the principal amount of Fifty Two Thouesnd& 0o/10~ Dollars ($52,0o0.00), together with Interest on the unpaid principal balance Item May 12, 1995, until ~ In full. The Interest rate Will not Incre~__ee_ above 10.50o%. PAYMENT. SutiJect lo any payment changes resulting from changes In the Index, I will pay thts loan In accordance with the following payment schedule: 12 consecutive monthly prlnclpel and Interest payments of $401.34 each, beginning June 12, 1995, with Interest calculated on the unpaid principal balances al an interest rate of 8.ooo% par annum; and 288 consecutive monthly principal and Interest payments in the Initial amount of $446.00 each, begthnthg June 12, 1gee, with Interest calculated on the unpaid principal balances at an Interest rate of 3.50o percentage points over the Index described below. My final paymenl will De due on May 12, 2020 and, will be for all principal and accrued Interest not yet paid, together with any other unpaid amounts under this Nota. I will pay Lender st Lender's address shown above or at such other place es Lender may designate in writing. Uniees other, vise sgresd or required by applicable law, payments will be applied first to accrued unpaid inlerest, then to pdncibal, and any remaining amount to any unpaid collection costs and late charges. VARIABLE INTEREST RATE. The interest rate on this Note is subject to change from time to time based on changes in an index which is the Monthly average of weekly average auction rates on United States Treasury Bills with 8. maturity of six months. (the "Index"). Your intarast rate will not increase or decrease if a change in the index is toss than one-quarter percentage point on any change date. Lender will tell me the current Index rate upon my request. I understand that Lender may make loans based on other rates es well. The interest rate change will not occur more often than each year. The Index currently Is 5,800% per annum. The Interest rate or rates to be applied to the unpaid principal balance of this Note will ba the rate or rates set forth above In the "Payment" section. Notwithstanding any other provision of this Note, the vertable Interest rata or rates provided for in this Note will ba subject to the following maximum rate. NOTICE: Under no cimumstances will the interest rate cn this Note be more than the lesser of 10.500% per annum or the maximum rate allowed by appliuabts law. Notwithstanding the above provirdons, the maximum increase or decrease in the interest rate al any one time on this loan will ndi exceed 2.000 percentage points. Unless waived I~y Lender, any increase in the Interest rate wfil Increase the amounts of my payments.. PREPAYMENT. I agree that all loan fees end other prepaid finance charges are earned fully es of the data of the loan and will not be subject to refund upon esdy payment (whether vdiuntary or es a result of default), except es otherwise required by law. Except for the foregoing, I may pay without penalty ail er a portion of the amount owed esdier than it is due. Eady ~ayments will not, unless agreed to by Lender in writing, relieve me cf my obligation to continue to make payments under the payment schedule. Rather, they will reduce the principal balance due and may result in rna making fewer payments. LATE CHARGE. If a payment is 15 days or more late, I will be charged 5.000% o! the regularly scheduled payment. DEFAULT. I will be in default tf any of the following happens: (a) I fail fu make any payment when due. (b) I break any promise I have made to Lender, or ~ fail to perform promptly at the time and stdctiy In the manner provided in this Note or any agreement rotated fu this Note, or in any other agreement or loan I have with Lender. (c) Any representation or statement made or furnished to Lender by ma or on my behalf is false or misleading in any material respect. (d) I die or become insolvent, a receiver is appointed for any pad of my property, I make an assignment for the benefit of creditors, or any proceeding la commenced either by me or against me under any bankruptcy or insolvency taws. (e) Any creditor Ides to take any of my properly on or in which Lender has e lien or security interest· This includes e garnishment of any of my accounts with Lender· (f) Any of the events described in this default section occurs with respect to any guarantor of this Note. LENDER'S RIGHTS. Upon default, Lender may, after giving such notices as required by applicable taw, declare the entire unpaid principal balance on . this Note and all accrued unpaid interest immediately due, and then I will pay that amount· Lender may hire or pay someone else to help collect this Note if I do not pay. I aisu will pay Lender that amount. This includes, subject to any limits under applicable law, Lendede attorneys' fees end Lenda¢'s legal expenses whether or not there is s lawsuit, including attorneys' fees and tagaJ expenses for bankruptcy proceedings (incJuding effods to modify or veoata any automatic stay or injunction), appeals, end any anticipstad post-judgment collection ~. if not prohibited by applicable law, I aisc wi~ pay Shy court coats, in addition to ail other sums provided by law. If judgment is entered in connection with this Note, interest wi" continue to accrue on this Note after judgment et the interest rata applicable to this Note at the time judgment is entered. This Note has been delivered fo Lender and accepted by Lender In the Commonwealth of Pennsylvania. If there is a lawsuit, I agree upon Lender's request to submit to the Jurtadtation of Ihs courts of Cumberland County, the Commonwealth of Pennsylvania. This Note shall be governed by and construed In accordance with the laws o! the Commonwealth of Pennsylvania. RIGHT OF SETOFF. I grant fu Lender s contractual possossory securfty interest in, end hereby assign, convey, deliver, pledge, and transfer fo Lendar all my right, title and interest in end to, my accounts with Lender (whether checking, savings, or soma other account), including without limitation ail accounts held jointly with someone else and ail accounts I may open in the future, exdiuding however ail IRA, Keogh, end trust accounts. I authorize Lender, to the extent permitted by applicable law, to charge or setaff ail sums owing on this Note against any and all such accounts. COLJ.ATERAL.. This Note is secured by a Mortgage dated May 12, 1995, to Lender on real property located in Cumberland County, CommonwesRh of Pennsylvania, ail the terms end conditions of which are hereby inco~orstad and mede a pad of this Note. (Continued) GENERAL PROVISIONS. Lend~' may delay or forgo enforcing any of Its rights or remedies under this Note without losing them. I and any other pemon who signs, guarantees or endorsa~ tills Note, to the extent allowed by law, waive presentment, demand ~ payment, protest and notice dishonor. Upon a~ny change in the tm'ms of this Note, and unless othe~vise e:q3res,~y stated in w~ng, no pady who signs this Note, whether as maker, guarantor, ~commodation meAer or endorser, shall be raieased from I/abitity. NI such parties agree that Le~d~' may renew or extend (repaatedly and for any langth of time) this loan, or release any pm'fy or gumantor or col/atsrel; or impair, tsJl to ra~a~, upon or perfect Lender's security interest in the c, ottstsmJ; and take any other action deemed nec~__ _,'7 hy Lendm' without the consent of or no~:e to anyone. Ati st]ch parties also agree I~at Lender may modify this Io~n without the consent of or nofico to anyone other than the party with whom the modlf, cation is made. PRIOR TO SIGNING THIS NOTE, I READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOT~ INCt. UDING THE VARIABLE RATE PROVISIONS. I AGREE TO THE TERMS OF THE NOTE AND ACKNOWLEDGE RECEIPT OF A COMFt.r. iP.D COPY OF THE NOTE. VS. In the Court of Common Pleas of Cumberland County, Pennsylvania No. - ~' ~ i Civil. 1-9 To Prothonotary Attorney for Plaintiff NO. Filed Term, 19 __ VS. PRAECIPE 19 Atty. M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff V. ARAFAT MASWADEH Defendant IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION - LAW CIVIL TERM 2001-894 AFFIDAVIT OF SERVICE I, William A. Duncan, Esquire, being duly sworn according to law, do swear that I served a Complaint in Civil Action Law on the Defendant, ARAFAT MASWADEH, by hand delivering a copy of same to him at Cumberland County Prison located at 1101 Claremont Road, Carlisle, Pennsylvania on May 1, 2001, at 3:30 P.M. William A. Duncan, Esquire bSe~o°rr~ tm; ta~.dsS)~,~dbSCrjbaeydof ~ NOTARIAL SEAL Cynthia L, Dart, Nota~/Public South Middleton Twp., County of Cumberland My Commission Expires Aug. 14, 2004 M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff ARAFAT MASWADEH Defendant : IN THE COURT OF COMMON PLEAS : OF CUMBERLAND COUNTY, : PENNSYLVANIA ; ; : CIVIL ACTION - LAW : : CIVIL TERM 2001-894 PRAECIPE FOR DEFAULT JUDGMENT TO THE PROTHONOTARY: Enter judgment in favor of the Plaimiff, M & T Bank Corporation, successor by merger with Keystone Financial Trust Bank, N.A., and against theDefendant, Ararat Maswadeh, in the mount of $55,229.04, with imerest at the rate of 9.25 percem per annum from February 8, 2001 ($12.42 per diem) together with attorney's fees in the amount of five (5) percent and the costs of suit, by reason of the failure of the defendants to enter an appearance or to file an answer within 20 days of the date of service of the complaint endorsed with a notice to defend. rated: ~_~ [ By: Attorney for Plaintiff M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff ARAFAT MASWADEH Defendant : IN THE COURT OF COMMON PLEAS : OF CUMBERLAND COUNTY, : PENNSYLVANIA : : : CIVIL ACTION - LAW : : CIVIL TERM 2001-894 TO: AKAFAT MASWADEH Date of Notice: MAY 24, 2001 IMPORTANT NOTICE THIS FIRM IS A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. THIS NOTICE IS SENT TO YOU IN AN ATTEMPT TO COLLECT THE INDEBTEDNESS REFERRED TO HEREIN, AND ANY INFORMATION OBTAINED FROM YOU WILL BE USED FOR THAT PURPOSE. H~ YOU HAVE PREVIOUSLY RECEIVED A DISCHARGE 1N BANKRUPTCY, THIS CORRESPONDENCE IS NOT AND SHOULD NOT BE CONSTRUED TO BE AN ATTEMPT TO COLLECT A DEBT, BUT ONLY AS ENFORCEMENT OF LIEN AGAINST PROPERTY. YOU ARE IN DEFAULT BECAUSE YOU HAVE FAILED TO TAKE ACTION REQUIRED OF YOU IN THIS CASE. UNLESS YOU ACT WITHIN TEN DAYS (10), FROM THE DATE OF THIS NOTICE, A JUDGEMENT MAY BE ENTERED AGAINST YOU WITHOUT A HEARING AND YOU MAY LOSE YOUR PROPERTY OR OTHER IMPORTANT RIGHTS. YOU SHOULD TAKE THIS NOTICE TO A LAWYER AT ONCE. !~ YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO TO OR TELEPHONE THE FOLLOWING OFFICE TO FIND OUT WHERE YOU CAN GET LEGAL HELP. CUMBERLAND COUNTY BAR ASSOCIATION 2 LIBERTY AVENUE CARLISLE, PA 17013 (717) 249-3166 WILLIAM A. DUNCAN, ESQUIRE 1 IRVINE ROW CARLISLE, PA 17013 ID# 22080 M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff ARAFAT MASWADEH Defendant : IN THE COURT OF COMMON PLEAS : OF CUMBERLAND COUNTY, : PENNSYLVANIA ; ; : CIVIL ACTION - LAW : : CIVIL TERM 2001-894 CERTIFICATION I hereby certify that after Defendant's failure to plead to the Complaint filed by Plaintiff within twenty (20) days after service, written notice of our intention to file a praecipe for the entry of judgment by default was hand delivered to Defendant by William A. Duncan, Esquire, to the Defendant's last known address: Ararat Maswadeh Cumberland County Prison 1101 Claremont Road Carlisle, PA 17013 Attorney for Plaintiff Dated: June 6, 2001 SHERIFF'S RETURN CASE NO: 2001-00894 P COMMONWEALTH OF PENNSYLVAiqIA COUNTY OF CUMBERLAND - NOT FOUND M & T BANK CORP VS MASWADEH AP~AFAT R. Thomas Kline duly sworn according to law, says, that he made a diligent inquiry for the within named defendant, DEFENDANT MASWA/}EH ARAPAT unable to locate Him COMPLAINT & NOTICE ,Sheriff or Deputy Sheriff, who being search and in his bailiwick. but was He therefore returns the the within named DEFENDANT , NOT FOUND , as to MASWADEH ARAFAT DEFT. COULD NOT BE LOCATED PRIOR TO EXPIRATION DATE ADDRESS IS VALID, 9 ATTEMPS WERE MADE. Sheriff's Costs: Docketing 18.00 Service 9.30 NOT FOUND RETURN 5.00 Surcharge 10.00 .00 42.30 So answerers: ~_.~ / p Sheriff of Cumberland County DUNCAN & HARTMAN 03/lS/2001 Sworn and subscribed to before me this D'7 ~ day of ~! A.D. ©notary M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff ARAFAT MASWADEH Defendant : IN THE COURT OF COMMON PLEAS : OF CUMBERLAND COUNTY, : PENNSYLVANIA ; ; : CIVIL ACTION - LAW · NOTICE YOU HAVE BEEN SUED IN COURT. W YOU WISH TO DEFEND AGAINST THE CLAIMS SET FORTH IN THE FOLLOWING PAGES, YOU MUST TAKE ACTION WITHIN TWENTY (20) DAYS AFTER THE COMPLAINT AND NOTICE ARE SERVED, FILING 1N WRITING WITH THE COURT YOUR DEFENSES OR OBJECTIONS TO THE CLAIMS SET FORTH AGAINST YOU. YOU ARE WARNED THAT IF YOU FAIL TO DO SO, THE CASE MAY PROCEED WITHOUT YOU AND A JUDGMENT MAY BE ENTERED AGAINST YOU BY THE COURT WITHOUT FURTHER NOTICE FOR ANY MONEY CLAIMED IN THE COMPLAINT OR FOR ANY OTHER CLAIM OR RELIEF REQUESTED BY THE PLAINTIFF. YOU MAY LOSE MONEY OR PROPERTY OR OTHER RIGHTS IMPORTANT TO YOU. 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· THIS FIRM IS A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. THIS NOTICE IS SENT TO YOU IN AN ATTEMPT TO COLLECT T1]E INDEBTEDNESS REFERRED TO HEREIN, AND ANY INFORMATION OBTAINED FROM YOU WILL BE USED FOR THAT PURPOSE. IF YOU HAVE PREVIOUSLY RECEIVED A DISCHARGE IN BANKRUPTCY, THIS CORRESPONDENCE IS NOT AND SHOULD NOT BE CONSTRUED TO BE AN ATTEMPT TO COLLECT A DEBT, BUT ONLY AS ENFORCEMENT OF LIEN AGAINST PROPERTY. CUMBERLAND COUNTY BAR ASSOCIATION 2 LIBERTY AVENUE CARLISLE, PA 17013 (717) 249-3166 M & T Bank Corporation, successors by merger with Keystone Financial Bank, N.A., Plaintiff ARAFAT MASWADEH Defendant IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION - LAW CIVIL TERM 2001 COMPLAINT AND NOW, comes M & T Bank Corporation, successor by merger with Keystone Financial Bank, N.A., formerly Farmers Trust Company, through its Attorney, William A. Duncan, Esquire, and files this Complaint in Mortgage Foreclosure, of which the following is a statement: 1. The amount in controversy in this action exceeds $50,000.00. 2. Plaintiffis Keystone Financial Bank, N.A., a corporation organized and existing under the laws of the Commonwealth of'Pennsylvania with its main office and principal place of bus'mess located at I West High Street, Carlisle, Cumberland County, Pennsylvania 17013. 3. Defendant is Ararat D. Maswadch, an aduk individual with a last known address of' 335 N. West Street, Carlisle, Cumberland County, Pennsylvania. 4. On or about May 12, 1995, Defendant made, executed and delivered to Plaintiffa Promissory Note (the "Note") in the original principal amount of Fifty-two Thousand Dollars ($52,000.00), a copy of'said note being attached hereto as Exhibk "A". 5. Said note has not been assigned. 6. The provisions of Sectinn 403 of'Act No. 6 of 1974, 41 P.S. 403 do not apply as the original amount of'the loan is in excess of Fil~y Thousand ($50,000.00) Dollars. 7. The provisions o£Section 2 of Act 91 of 1983, 35 P.S. 1680.403c do not apply as the Defendant no longer owns any property subject to the loan which is his principal residence. 8. Said note is in default because Defendants herein has failed to pay the required monthly installments of principal and interest due and owing for the months of March 2000 through February 2001. 9. After demand by Plaintiff, defendant has failed to pay said installments of principal and interest. 10. As per terms of the Note, upon default and failure to cure such default after notice, the whole of the principal, interest and late charges due thereunder are collectible forthwith. 11. The following mounts are due on said Note: A. Principal Balance $ 48,303.83 B. Interest ~ 9.25 % from 3/12/00 to 2-8-01 $ 4,058.51 C. Late Charges $ 236.75 D. Attorney's Collection fee $ 2,629.95 TOTAL: $ 55,229.04 WItEREFORE, PlaintiffM & T Bank, demands judgment against the Defendant, in the amount of Fifty-five Thousand Two Hundred Twenty-nine and 04/00 ($55,229.04) together with interest continuing from February 8, 2001 at the per diem rate of $12.42 and cost of suit. Attorney for Plaintiff 1 Irvine Row Carlisle, PA 17013 (717) 249-7780 [RLIE. COPY FROt~ RECOF~D m Tostim0a¥ wr~er~of, I hero u~t0 set my ha~ ~d the s~l of ~id C~ at ~rlisle, Pa, Pr0thonotmrv ' CERTIFICATION OF COMMERCIAL TRANSACTION I, $ohn P. Stover, hereby verify that I am a Loan Workout Officer, ofM & T Bank, and, as such, duly authorized representative ofM & T Bank, deposes and says subject to the penalties of 18 Pa. C.S. Section 4904 relating to unswom falsification to authorities that the underlying ~aausaction 'relative to th/s Complaint in Confession of Judgment is a commercial transaction to the best of Iris knowledge,/nformat/on and beli~ ~ ~...~ M& TBank Bowower: ),relat tklaswadeh 131 E* South Street C&rlL~e, PA 17013 Prlmll~l : Loan Date , Maturity ; Loan No Cell i Collateral ~ Aoc~unt : Officer .r Inltiale 1 References in the shaded arsu ere for Lender's use only and do not limit the epplioobiUty of ~ dOcument to any particuter loon or item. Lender: Farmers Trust Company P;=~, Office One West High Strael Calltets, PA 17O13 Principa/Amount: $52,000,00 Date of Note: May 12, 1995 PROMISE TO PAY. I promlsu lo pay to Faramre Trust Company ('1..ender"), or erder, bt lawful money of the Un~ted Stats,, of Amartea, the prlnotpel mount of Fitly Two TI~ & IX~100 DOfI=$ ($52,000.00), together with Interest ~t the unpold prtoclpai balance h'om May 12, 1995, until paid In full. The teterest ~'ato will not Increase abov$10.600%. PAYMENT. ~ubJant to any paymenl cbange~ resulting from change~ In ~ Index, I will pay thte loan In accordance With the fottowteg paymeol schedule: 12 consecutive monthly lalnclpst and Interest payments of ~401.34 each, beginning June 12~ 19g~;, with Interest calculated on the unpaid prlndipol balances ~t an Interest rate of 8.oo0% per annum; and 288 consecuBve monthly prbtolpel and Interest payments In the InlBai amount of $446.00 each, beginning June 12, 1996, with btlan..st caioutelad on the unpak:l p,'lnclpal ]~aiancee st an Interest rate o! 3.500 percentage points over the Index descrteed below. My fteai payment will be due on May 12, 2020 and, will be for all prbtclpal and accrued Interest not yet paid, together with any other' unpaid amounts under this Note. I will IOOY Lander at Lencis~s address shown above or st such ofhar place as Lander may deaigoote In w~ting. Unless othenvise agreed or required by appl~la ]aw, payments will ba applied first to scorued unpaid interest, then, to prif'~pM, and any remainin~ amount to any unpaid collection costs and I~te chargeS. VARIABLE INTEREST RATE. The interest rate on this Note is subjeot to change from time to time based on changes in an index which is the Monthly suers, ge ot weekly average aucHon rates on United Steles Treasury Bills with · rcefurity ot s/x months. (the 'index~). Your interest rate will not increase or decreese if a change in the index is ~ than oce-querte~ percentage point on any change date. Lender will ~ me the current In,ex rats upon my request. I understand that Lander me}, make loons I~L.<ed On 0the~ rates as wail. The interest rate change will not occur more often than each year. The Index currently te $.aos% per annum. The tetsrest rate or rates to be appifed to rne unpaid pnnclpai balance of this Note will be the rata er rates set to~th above In tM "Payment" scctlon. Notwithstanding any other provlston of this Note, the variable Interest rate er rote~ provided for In this Note will be subloct to the foifowing maximum rate, NOTICE: Under no circumstances will the interest rate on this Note be mom than ~he lesser of 10.500% per annum cr the maximum rate allowed by applicable taw. No~vithstanding the above provisions, the maximum increase or decrease in the interest rate at any one time on this loan will not exceed E.000 percentage points. Unteun waived by Lender, any Increase In the Interest rate wlif Increase tho amounts of my payments.. PREPAYMENT. I agree that ell loon tees and other prepaid tinance charges ara oorned fully es of the date of the Icen and will not be subject to refund L~pon early payment (whether voiuofery Or es a meult of deteuti), except es othenvtse recluired by law. Bxsept tcr Ihs f~oing, I may pay without penally MI or a portion of the amount owed earlier than it is due. Early payments Will cot, unless agreed to by Lender in w~ing, raltsue rue of my oblige#on to continue to make payments under the payment schedule. Reiner, they will reduce the prinCiPal balance due and may result in me making fewer payments. LATE CHARGE. If · payment is 15 days or more late, I will be charged 5.000% of the regularly scheduled payment. DEFAti. T. I will be in default if any of Ihe tetiowlng happens.* la) I fall to m~ke any payment when due. (i3) I bre~k any promise I have made to Lender, or I tell to perfurm promp~ at the time and st~otly in the manner provided In this Note cr any egrsemenl related to this Note, cr in any other agreement or loan I heys with Lender. lc) Any representation or statement mede or terntshacl to Lender by me or on my behalf is ~ or misleading in any metedai respect. (d) I die or become Insolvent, a receiver is appointed for any I;mrl of my property, I rnaka an es~gnment for the creditors, or any proceeding is commenced either by me or e, gsinst me under any bankruptcy or insolvency laws. (e) Am/creditor tries to take m~' of my property on or in which Lender has ,~ llan or sscurity interesL TI~is incfudas a gamle~ment of any of my accounts with Lender. (f} Any of ~he events desc~bed in this deteult section ocours with respeot to any guarantor of this Note. LENDER'S RIGHTS. Upon de~ault, Lender may, sitar giving such notices es required hy applicable law, dectem the entire unpaid principal balance on this hiote and all accrued unp,=id in~are~ immedletaiy due, end then I will pay that emounL Lender may hire or pay someone aise to help coileof this Note if I do not p~y. I eiso wig pay Lender that emounL Thle includes, subject to any limlle under epplloobte Aw, Lender's sfferneys' fees and Lender's legal expenses whether or not there is · tswsutt, IncfudJng stten~eys' fees and legal exponsas for bankruplcy proceedings (incfuding efforts to modify or vsoote any automatic stay cr injunction), eppaais, and any anticipated po~;-judgment coitecl]on servlees. It no~ prohibited by epplleepte Aw, pay soy cou~ costs, In addison to M other sums provided by law. If judgment is enterad in connsclton with this Note, Interest will continue to accrue on this Note after Judgment at fha intm'ast rste epplicepte to this Note St the time judgment is entered. Thte NOts has baen delivered to Lender and asceptsd by Lender In the Contmoowealth of Pannaylvunla. I1' there la a lawsuit, I agree upon Lender's requsst to submit to the Ju~.~dlcl]on of the courts o! Cumbortend County, the CommonweaJth of Panonylvarda. Thte Note ~tall be governed by and constnmd In accordance with the laws of the Commonwonlth of Pennaylvanla. RIGHT OF SETOFF. I grant to Lender · conb~tu~ poss~ sscu~ly tntmast in, and hereby assign, convey, deliver, pledge, and banste~ to Lend;e all my right, I~e end Interest in and to, my sccouofs with Lander (whether chec~'.ing, savings, or some other account), incteding without itmiteifon accounts held jaint~/with someone else and all escounts I may open in the future, excluding however MI IRA, Kar~h, and bust accounts. I Lander, to the extent permitted by applicable law, to charge ar seteff ail sums owing on Ibis Note against any and all such accounts. C~{.LATERAL This Note is secured by a Mon'gsge dated May 12, 1995, to Lender on real property located in Cum;untrod County, Commonwse~h of Pennsy~vanis, ail the terms and conditions of which are hereby incoq~orated and made a part of this Note. (C, ontinued) GENERAL PROVISIONS. L.ende' may de~y oi' fo~o eflfon~flg any of its dghts Or remedies under this Note without ~ them. I end Any ~ther pMson who ~gns, gu~rsnle~s or endorses lh~ Note, to the ex~nt lllowed by lAW, ~ preMntment, c~nmJ'ld fcY i~.ynmnt, ~ote~ &nd ~ of dishon~. Upon &ny Ghinge in Ihe terms of this Note, ,,nd unie~ othenvise expressJy stated in writing, no pm~y who dgf~ this NO~ whe#~' I.~ n~kei', gu~zlntor, accommod~on maker M' encJo~e-, sh~l be ndeued h'om liab;d~. AJI such pe,"~s ~gt'ee thlt L.enc~' rnly renew ar extend (r~0Mtedy ~r)d f~' ~ny lengtll ~ Ume) this Io~n, or release ~ny i:~rly or g~lar~nt~ ~' co#ateral; ~' ~, f~ll to ~ ~ ~ ~ ~$ ~ ~ in ~ co~l; and lake ~ny olhe~ ecUon deemed nece~e~ by Lender without the conr, ent of or no~e ~ ~ AJI such p~ Ilso agree thai Lendm' PRIOR TO ~IGNING THIS NOTE, I READ AND UNDERSTOOD AU. THE PROVISIONS OF THIS NOTE, INC/.UDING THE VARIA~.E INTEREST RATE PROVISIONS. I AGREE TO THE TERMS OF THE NOTE AND ACKNOWI.E~GE RECEIPT OF A COMPt. ETED COPY OF THE NOTE.