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HomeMy WebLinkAbout01-1083PNC BANK, NATIONAL ASSOCIATION IN THE COURT OF COMMON PLEAS Plaintiff CUMBERLAND COUNTY, PENNSYLVANIA CHARLES E. BINGMAN AND CONNIE L.: CONFESSION OF JUDGMENT BINGMAN : CWIL ACTION - LAW Defendants CONFESSION OF JUDGMENT Pursuant to the authority contained in the warrant of attomey, the or/ginal or a copy of wkich is attached to the complaint filed in this action, I appear for the Defendants and confess judgment in favor of the Plaintiffand against Defendants as follows: Principal Other authorized items: Interest to January 16, 2001 Attorney's Commission $ 28,768.39 $ 311.46 $ 2,907.99 TOTAL $ 31,987.84 Date: Respectfully submitted, SAIDIS, SHUFF, FLOVfER & LINDSAY Karl M. Ledebohm, Esquire Supreme Court 1D #59012 2109 Market Street Camp Hill, PA 17011 (717) 737-3405 PNC BANK, NATIONAL ASSOCIATION Plaintiff CHARLES E. BINGMAN AND CONNIE L. BINGMAN Defendants : IN THE COURT OF COMMON PLEAS : CUMBERLAND COUNTY, PENNSYLVANIA : NO. CONFESSION OF JUDGMENT : CIVIL ACTION - LAW : COMPLAINT FOR CONFESSION OF JUDGMENT UNDER RULE 2951 1. The name and address of the Plaintiff is PNC Bank, National Association, 4242 Carlisle Pike, Camp Hill, Pennsylvania. 2. The name and last known address of the Defendants is Charles E. Bingman and Come L. Bingman, 712 Hilltop Drive, New Cumberland, Pennsylvania 17070. 3. Defendants Charles E. Bingman and Come L. Bingman ("Defendants") executed and delivered to Plaintiff a Commercial Guaranty ("Guaranty"), a tree and correct photostatic reproduction of the original of which is attached hereto as Exlfibit "A" and made a part hereof. 4. The Defendants under the Guaranty, guaranty to Plaintiff; inter alia, the payment of all amounts due to Plaintiff by Modem Concepts, Inc. ("Debtor") under the Promissory Note dated August 18, 1999 in the original principal amount of $30,000.00 (the "Note"), a true and correct photostatic copy of which is attached hereto as Exhibit "B" and made part hereof. 5. Debtor is in default of Debtor's obligations under the Note and Defendants are in default of Defendants obligations under the Guaranty to make payment to Plaintiff as required in the Guaranty. 7. with a consumer credit transaction. 8. There has not been any assignment of the Note. Judgment is not being entered by confession against a natural person in connection 10. Debtors' default is as follows: a. b. C. Judgment has not been entered on the Note in any jurisdiction. An itemized computation of the mount due to Plaintiff by Defendants as a result of Principal Interest to January 31, 2001 Attorneys' commission $ 28,768.39 $ 311.46 $ 2,907.99 11. e. Total due to Plaintiff as of January 30, 2001 $ 31,987.84 Interest continues to accrue at the default rate provided in the Note. WItEREFORE, Plaintiff demands judgment against Defendants, Charles E. Bingman and Connie L. Bingman, as authorized by the warrant of attorney contained in the Guaranty for Thirty One Thousand Nine Hundred Eighty-seven and 84/100 ($31,987.84) Dollars, plus interest fi'om and including the date of this Complaint and judgment entered hereon at the default rate provided in the Note, additional legal fees and costs of suit. Respectfully submitted, SAIDIS, SI-IUFF, FLOWER & LINDSAY Supreme Court ID #59012 2109 Market Street Camp Hill, PA 17011 (717) 737-3405 Attorney for PNC Bank, National Association 2 3OMMERCIAL GUARANTY ncil~al Loan Date: Matur ty Loan No ~ Call Collateral Officer ACco.unt References m the shaded area are nor Lender's use only and do not frmit the adplicability of this Document to any particuiar loan or item. Borrower: MODERN CONCEPTS. INC (TIN: 251616693) 734 STATE STREET LEMOYNE, PA 17043 Guarantor: CHARLES L. BINGMAN and CONNIE L. BINGMAN 712 HILLTOP DRIVE NEW CUMBERLAND, PA 1707{~ Lender: PNC SANK, NATIONAL ASSOCIATION ¢2¢2 CARLISLE PIKE CAMP HILL, PA 17001-8874. AMOUNT OF GUARANTY, The amount of this Guaranty is Unlimited. CONTINUING UNLIMITED GUARANTY, For goad and valuable consideration, CHARLES L. BINGMAN and CONNIE L. BINGMAN ("Guarantor") abSd(Utely and uftcond/tJonally guarantee and promise to pay, jointly and severally, to PNC BANK, NATIONAL ASSOCIATION ("Lender") or Ils order, in legal tender of the United States of America, the Indebtedness (es thal term is defined below) of MODERN CONCEPTS, INC ("Borrower") to Lender on the terms and conditions set forth in this Guaranty. Under this Guaranty, the liability of Guarantor is unlimited and the obligations at Guarantor are continuing. DEFINITIONS. The following words shall have the following meanings when used an Ibis Guaranty: Sorrower. The word "Borrower" means MCOERN CONCEPTS, ~NC. Guarantor. The word "Guarantor" means CHAR~S L, 8tNGMAN and CONNIE L. 8~NGMAN, who are s~gnmg this Guaranty jointly and severally. Guarani, The word "GuaranW" means this Guaranty made ~y Guarantor for t~e benefit of Lander dated August ~8, 1999. I~de~tedne~, The word "Indebtedness" ~s used in its most comprehensive sense dod me~ns and includes any and a~ of 80rrower's obligations, de~ts, &nd indebtedness to Le~er, now exisQng or hereina~er incurred or created, including, without limitation, al[ ~oans, advances, interest, costs, debts, overdra~ indebtedness, credit card indebtedness, le~se obligations, ot~er obligations, and liabilities of Sorrower, or ~ny of them, ~nd any present or f~ture jud~me~t~ ~g~ins( 8orrower, ~r ~ny of them: and wnem~r any such indebtedness ~s voluntarily or involuntarily incurred, due or not due, a~sotute or contingent, liquidated or unliQuidated, determined or undetermined; wbet~er Borrower may be ~i~bie individually or jointly with Ot~ers. or primarily or secondarily, or as guarantor or surety: whether recove~ o~ the [~e~tedne~s m~y be or become ~rred or unenforceable agams~ ~orrower for any reason w~atsoever: and wnemer t~e ~nde~tedness arises from transactions w~ich may be voidable on accfunt of infa¢cy, Jnsani~. ultra vires, or ofhe~ise. Lender, The word "Len¢er" means PNC BANK, NATIONAL ASSOCIATION, its successors and Assigns. Related Oocuments. The words "Related Documents" mean and includ~ without )imitation all promissory notes, credit agreements, loan ~greements, environmental agreements, guaranties, securi~ agreements, reD,gages, :beds of trust, and all other ins'.r~ment~, agreements and documents, whether now or here&fief ex~stmg, executed in connecfio~ wit~ fhe Indebtedness. NATURE OF GUARANTY, Guarantor's ~ia~il~/ under this Guaranty s~a~i be o~en and co~t~uous for ~o ~on~ as t~s G~f~ty remains ~n force. Gu~r~mor intends ~o guarantee ~I all times f~e oeRormance and orom~f payment when due, whet~er at m~turfty or earlier by reason of ~cceleration er otherwise, of all Indebtadness. Accordingly, no 2aymenfs made u~on t~e ~n~eutedness w~t~ discharge or diminish t~e contmum9 liability of m co~ect~on with ~y remB~mng pad,ohs of me Indebtedness or ~y of the J~deb~edness w~ic~ subsequently arises or ~s f~ereafter recurred or c~ntracted. The obligations of Guarantors shall ~e ~oinf and several. Lender may proceed against any of t~e Guarantors individually, ~9~inst ~roup of Gu~rBmors, ~r ~gams( ~tl the Gueramors in one ~ction, wit~o~ a~ecti~g the right c~ Lender to proceed against other Guarantors for amounts t~8l ar8 covered Dy th~s Guaranty. A~y f~a~ilif~ 2f Lender 1o ¢roceed against a~y Guaramcr fwhet~er caused by actions ~f a Guarantor or ~f Lender) w~ n~t ~ffect Lender'~ nght to probed ~gBlnst &dy or ~11 remaining Guarantors for a~l or cart ~f the amounts covered by t~ts Guaranty. DURATION OF GUARANTY. Th~s Guaranty w~ take effect when received ey Le~der without t~e necessity of any acceptance by Lender, or ~ny not(ce to Gu~rc~tor ~r to Borrower, and wdl continue ~n full force until a~l Indebtedness incurred or contracted before receipt ~y Lender of any notice of revocation shall ~ave been Oully and finally pa~d and satisfied and alt other obligations of Guarantor under tn~s Guaran~ sha~ nave b~n pedorme~ m ful~ ff Guarantor elects to revoke tins Gudrun:y, Guarantor may oniy do so ~ writing. Gdaran¢ors written notice of revocation must be mailed t~ Lender, by certified mail, at the address of Lender listed above or SUCh ot~er ptace as Lender may designate m wdtmg. Written revocation of Guaranty wi~ ~pply on~y to ~dv~nces o( ~ew indebtedness creeled ~ffer ~ctua/ receiot ~y Lender o¢ Guarantor's wri~en revocation. For fhos purpose ~n¢ without ~imitation, the term "new fndebIedness" does not incJuce ~ndebtedness w~ic~ at ~he time of notice o~ revocation rs contingent, undetermined or not due and winch ~ctar becomes ~bsotute, liquidated, determined or 3ua. Notice of revocation shall ce eff~tive only as to the p~rt~cu~r Guarantor providing t~e notice, and snail not affect the ~iabiiity of other guarantors. This Guaramy will continue to brad Guatamor for Indebtedn~s recurred by Borrower ar comm~ed by Lender pnor to receiot of Guarantor's wr,~en notice of revocation, rnciuding any extensions renewals, substitutions or modifications of the indebtedness, Ail renewals, extensions, substitutions, and modifications ef r~e indebtedness grantee after Guarantor's revocat{Onr ~fa contem~iateG under tn~s Guar~my ~nd, spec/ficafly wiJ~ not Oe considered to De new indebtedness. This Guaranty shall ~md the estate 0¢ Guarantor as to ~ndeOtedness created both Oefore and after ~he deem or mcaoacity of Guarantor, regardless of Lender's actua~ notice of Guaramor's death Sub~ec~ to the forgoing, Guarantor's executor or administrator or other legal representative may ;ermmate this Guaranty ¢~ the same manner tn whic~ Guarantor might have terminated it and wit~ t~e same effect. Re,ease of any ot~er guarantor cr termination at any other guaranty of the indebtedness shall not affect the liability of Guarantor under this Guarant7 A revocation recoved by Lancer from shy one or more GuArantors s~ll not Affect the ~/Abliity of any remaining Guaramors under this Guaranty It is anticipated that fluctuations may occur in the aggre~te amoun( of indebtedness covered Oy Ibis Guarani, and it is speci~cally acknowledged and agreed by Guarantor that reductions m t~e amount of indebtedness, ~en to zero dollars (~0.00), prior to written revocation of this Guaranty by Guarantor shall not constitute a termination of ~hJs Guarani. This Gueran~ is binding u~on Guarantor and Guarantor's heirs, successors and assigns so long as any of the guaranteed Inde0tedness remains unpaid and even fhoug~ the Indebtedness guaranteed may from time to time be zero dollars GUARANTOR'S AUTHORIZATION TO LENOER. Guaranta~ aumor~zes Lender, e~ther =afore or after any revocation ~ereof, without notice or demand and wilhoul lessening Guarantor's I/abili~ under lhts Guaranty, from time to time: (a) prior to revocation as set forth above, to one or more additional secured or unsecured loans to Borrower, to Jesse equipment or o~her goods to Borrower, or othe~tse to exten~ addibonal credit to Borrower; (bi lo alter, comp¢omJ~, renew, extend, accelerate, or ol~e~i~ change one or more times the time for payment or ot~er [ef~s of t~e IndeOtedness ~r any part Of [~e Indebtedness. including mcrea~s and decreases at t~e rate of interest on the Indebtedness; extensions may be repeated and may be for ~onger than l~e original loan term; (c) to ta~e and hold security 1or t~e payment ef 1ms GuaranW or the Indebtedness, and exchange, enforce, waive, suDordinate, tail or decide not to perfect, and release any suc~ secud~, with or without the subs/]tut~on at new collateral; rd) Io release, substitute, agree not to sue, or deal with any one or mm'e of Borrower's sureties, endorsers, or o~her guaranlors on any terms or Jn any manner Lender may choo~: re) t~ determine how, when and what aDplication Lo~n No (Continued) of payments and credits shall be made on tile Indebtedness; (f) to a~3piy such security and direct the order or manner of sale therebf, including without limitation, any noniudicial Sale permitted by the terms of the controlling security agreement or deed of trust, as Lender in its discretion may cletefmine; (g] to sell, transfer, assign, or grant participations in all or any part of the Indebtedness; and (h) to assign or transfer this Guaranty in whole or in part. GUARANTQR'S REPRESIENTATtONS AND WARRANTIES. Guarantor represents And warrants to Lander ~hat /al no representations or agreements GUARANTOR'S WAIVERS. Except as prohtbiied by a~plicable law, GuArantor waives Any nght ~o require Lender (a) to continue lending money or to cr~llateral held by Lender from ~orrower, any other guarantor, or an,/ other person; {el to give notice of the terms, time. And place Of any public or Code; (t) to pursue any other remedy within Lander's power; or (9) to commit any act or omission of any kind, or at an,/ time, with respect to any Guarantor, or both. GUARANTOR'S UNDERSTANDING WtTH RF:$PECT TQ WAIYERS. Guarantor warrants aha agrees that eec~ of tho wawers set forth above ~s made LENDER'S RIGHT OF SETOFF. In addilior~ lo a~l lions upon a~d rights of setoff against the moneys, securities or other proaerty of Guarantor given t¢ SUBORDINATION OF BORROWER'S DE~BTS TO GUARANTOR, Guarantor egrees ~h~t the indebtedness of Borrower to Lender, whether nc (COntinued) matters set forth in (his Guaranty. NO altera~4m of. or amendment lo this Guaranty shall be effective un,ess given in writing and signed by the part' or part[es sought to be charged or bound by ~he ~te~a~Qn ~r amendment. Applicable Law. Th~s Guaranty has ~een ~elivered to Le~der and accepted Dy Lender in t~e Commonwealth of Pennsylvania. ~[ there ~s lawsuit, Guarantor agrees upon Lender's request to su~m~t to f~e ~urisdJctJon of the coups 0~ CUMBER~ND County, Commonwealth Pennsylvama. Lender and Guarantar hereby waive the right to any ]ury t~al in any action, ~roceeding. or counterclaim brougM by either Lender Guarantor against f~e ot~er. Th~s Guaranty shali be governed by and construed m accordance wit~ the ~aws of t~e C~mmonwealth of Pennsylvania. Attorneys' Fees; ~penses, Guarantor ~gr~s tQ pay upon demand aft of Lender's costs add expenses, including sdorneys' f~s and Lender's legBt expenses, recurred m connection w~t~ the enforcement of this Guaranty. Lender may ¢ay $~meone eisa to help enforce this Guaranty. and Guarantor shall p~y the costs and expenses of suc~ enforcemenfi C~sts ~nd expenses mctude Lendeps attorneys' fees and legal expenses wbet~er or nof t~ere is a ~awsuit. including attorneys' fees and }egal expenses for ~nkruDtcy proceedings (and inctuding effods to modi~ or v¢cate any automatic stay or injuncbon), a~peaJs, and any anticipated pOst-~udgment coflectton service. Guarantor aisc sbal~ ~ay al~ court costs and suc~ additional fees as may De directed by t~e c~u~. Notices. All ~otices required to ~e given ~y either ¢ady to t~e ot~er under this Guaranty s~alt De in writing, may be sent Dy ~elefacsim~le (unless otbe~tse required by ~aw), and, except for revocation notices Dy Guarantor, shelf be e~tive when actually delivered or w~en deposited wit~ nstionalJy recognized overnight c~urfer, or when deposited in ~he United States mail, ~mt class postage orepaJd, addressed to the pady to the notice is to be given at f~e address s~own above ~r to suc~ ~ther addresses as either p~dy may designate to the other in writing. All revocsti~¢ notices Oy Guarantor shall be m wribng and s~ail ~e effective only upon delivery to Lender as provided above in the section titled "OURATION OF GUARANi." if thee is m~re th~n one Gu8ra~tor, notice to ~ny Gu~snter witl constitute notice to ~Jl Guarantors, For notice purposes, Guarantor agrees to keep Lender informed ~t ~ll t~mes ~f Gu~antor's currem address. interpretation. [~ ~lt csses w~ere there is more than one Borrpwer or Guarantor, then all wprds used m th~s Guaranty m t~e singular shall deemed (0 nave been used m t~e plural where the contex~ and construction so require; and where there is more than one Borrower named in this Guaranty or w~e~ th~s Guaranty ts execufed Dy t~ore than one Guarantor, the words "~orrower" and "Guarantor" resp~tive~y s~all mean all and ~ny one or more o¢ them. The words "G~aranfor," '~orrower," and "Lender" inctude the heirs, successo~, ~ss~gns, and transferees Of e~ch of them. Caption headings ~n this Gusranty ~ra for convenience puroQses only and are not to ~e used to interpret or define the provisions of Guaranty, {f ~ court of competent ~urisdiction finds ~ny ¢rov~sion of this Guaranty ~o be pnvaliO or unen/orceable as to any person or circumstance, such ~n~ng shell not render that provision eyelid or unenforceable as to any ot~er persons or c~rcumstances, and al~ ~rows~ons of this Guaranty ~n ~t other resoects shal~ rem&m valid and enforceabte. If any one or more of Borrower or Guarantor are corDoratJo¢s o¢ partnerships, it is ~ec~ss~ry for Lender to mquJre mid the powers of Borrower or Guarantor or of t~e officers, directors, partners, Or agents acting or purporting to On their behalf, add any indebtedness made or created in reliance Upon t~e professed exercise of such powers sha~ be guaranteed un,er Guaranty. Waiver, Lender sh&[{ ~ot be deemed to ~ave w~[ved ~ny dg~ts under ~nis Guaranty unless suc~ W~lVer ~s g~ven m wdti~g add s~gned by Lender. No de,ay or cm~ss~o~ o~ the ¢~rt of Lancer m exercising ~ny ng~t sha~l operate as a waiver o¢ suc~ right ~r any o~her right. A waiver by Lender ~ Orov~s~on of this Guaranty s~a~l not prejudice or c~nstitute a waiver of Lender's right otherwise to demand 5t~ct com¢iiance wit~ that provision or &~y other prows[on of ~ms Guaranty Nc 2n~r waiver ~y La,der. nor any co~rse of dealing ~etwee~ Lender and Guarantor, shall constitute a w~ver of ~ny of Le~der's ng~fs or Of a¢7 cf Guarantor's os¢lgations as to any future ;ransact~ons. W~enever t~e co~sent of Lender ~s required u~der this Guaranty, t~e granting of sucr conseni Dy Lender m any instance S~al~ ~ot constitute continuing consent to subsequent mstances where such c¢¢sent ps required and m a~l =ases such consent may be granted or w~thReid m the so~e discretion of Leader. LiMiTED RECOURSE AS TO NON-APPLICANT SPOUSE. NotwithStanding apything co,rained ~erern fo the contrary, pt ~s agreed t~at, unless exception to the requirements ~f Regulation B cf the 8card of Governors of the Federal Reserve System applies in connection w~th t~e extension of the {n~eOtedness ~d the execut(on ~f t~s Guaramy. t~e s~use who is deemed not to ~e the "aDphcant f~r credit" f~r purposes of such regulation {the "No~-Applic~nt Spouse") shall De personally fiddle under this Guaranty only wit~ respect fo assets ~e~d ~o~ntly as of the date hereof or ~ereafler acquired. ¢nd f~e ~en of a~y ~udgmenfi order cr ot~er rebel against the Nod-Applicant Spouse sha~l ~e I~mltec t~ereto. Notnmg harem, however. hmit the Lender's r~ghfs agamst a~y person, f}rm or entity ot~er t~a~ t~e Non-Applicant Spcuse. CONFESSION OF JUDGMENT. GUARANTOR HEREBY IRREVOCABLY AUTHORIZES AND EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTH OF PENNSYLVANIA, OR ELSEWHERE, TO APPEAR AT ANY TiME FOR GUARANTOR AFTER A DEFAULT UNDER THIS GUARANTY, AND WiTH OR WITHOUT COMPLAINT F!LED, AS OF ANY TERM, CONFESS OR ENTER JUOGMENT AGAINST GUARANTOR FOR THE ENTIRE PRINCIPAL SALANCE OF THiS GUARAN~P¢. ALL ACCRUED INTEREST, LATE CHARGES. ANO ANY AND ALL AMOUNTS EXPENDED OR ADVANCED SY LENDER RELATING TO ANY COLLATERAL SECURING THE tNDESTEDNESS TOGETHER W~TH iNTEREST ON SUCH AMOUNTS, TOGETHER WiTH COSTS OF SUIT, AND AN ATTORNEY'S COMMISSION OF TEN PERCENT {10%/ OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED iNTEREST FOR COLLECTION, BUT IN ANv EVENT NOT LESS THAN FIVE HUNDRED COLLARS ($S00) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE IMMEDIATELY: AND FOR SQ 0O~NG, THIS GUARANTY OR A COPY OF THIS GUARANTY VBRIF~ED BY APFIDAVrT SHALL BE SUFFICIENT WARRANT. TN~ AUTHORI~ GRANTED IN THiS GUARAN~ TO CONFESS JUDGMENT AGAINST GUARANTOR SHALL NOT BE ~XHAUSTED BY ANY ~X~RCISE OF THAT AUTHOR[~, 8UT SHALL CONTINUE F~OM T~ME TO TIME AND AT ALL TIMES UNT}L PAYMENT ~N FULL OF ALL AMOUNTS DUE UNOER THIS GUARANi. GUARANTOR H~REBv WAIVES ANY RIGHT GUARANTOR MAY HAVE TO NOTICE OR TO A NEARING ~N CONNECT/ON W~TN ANY SUCH CONFESS;ON OF JUDGMENT, EXCEPT ANY NOT~CE ANO/OR HEA~NG REQU~RED UNDER APPLICABLE LAW W~TH RESPECT TO EXECUTION OF THE JUDGMENT, AND STATES THAT ~{THER A REPRESENTATIVE OF LENDER SPECIFYCALLY CALLED THiS CONFESSION OF JUOGMENT PROVISION TO GUARANTOR*S A~ENTION OR GUARANTOR HAS SEEN RE=RESENTED BY iNDEPENDENT LEGAL COUNSEL. EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVlSIQ~S OF THIS GUARANTY AND AGREES TO ITS TERMS. IN ADDITION, EACH GUARANTOR UNDERSTANDS THAT THIS GUARANTY IS EFFECTIVE UPON GUARANTOR'S EXECUTION AND DELIVERY OF THIS GUARANTY TO LENDER ANO THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE MANNER SET FORTH IN THE SECTION TITLEO"DURATION OF GUARANTY," NO FORMAL ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE. THIS GUARANTY IS OATEO AUGUST ~8, 1999. THIS GUARANTY HAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED, GUARANTOR: INDIVIDUAL ACKNOWLEDGMENT STATE OF ) F N~ ~ COUNTY O ) { .~'.'.'.'.'.'.'.'.~ J. S~ey, NOtal? I~ l Demon whose names are subscribed to the ~n instrument, an~ acknowledged that t~ey ~x~ute~e same for ~e D~Do~s ther~n c~taine,~, the LASER PRO. Reg. ~.S. Pal: ~ T.M, Off'.: V;r. 3.2~ (c~ ~ ~ggC~l P~OServices. In~. A{I ~ghts reaerve~: ~PA-E20 ~3~5o N08; 7001 .LN G~I Q~L'~ PROMISSORY NOTE ~rin~ipa! Loan Dare Maturi~: Loan No Call Collateral Account i Qffiper nit a s $30i0~0;00; ~_t ~_{~ ~ L76: 00804373~ N~ 2658i ~ References in the shaded area are f~r Lender's use oni~ an~ ~o not ~mit the a~iicabilit~ of this document to a~7 padJcular dan or ~tem Borrower: MODERN CONCEPTS, INC (TIN: 2S1616693) Lender: PNC BANK, NATIONAL ASSOCIATION ~ STATE STRE~ 4242 CARLISLE PIKE LEMOYNE, PA 17043 CAMP HILL, PA 17001~a74 Principal Amount: $30,000.00 Initial Rate: 9.000% Date of Note: August 18, lggg PROMISE TO PAY. MODERN CONCEPTS, INC ("Borrower") promi~s to pay to PNC BANK, NATIONAL ASSOCIATION ("Lender"), or order, in lawful money of the United States of America, the principal amount of Thir~ Thou~na & 00/100 Dollars ($30,000.00} o~ ~ muc~ as may be outstanding, together with interest on the u~paid outstanding principal ~alance ct eac~ advance. Jnlerest shall be calculaled from the ~ate of each advance until repaymenl of eac~ advance. PAYMENT. Borrower Will pay ~his loan tn accordance with lhe following payment schedule: Borrower wil~ pay regular monthly payments of accrued interest beginning on the first day o~ the Billing Cycle a~er initial advance, ~a all s~b~quent interest paymenls are due o~ the ~me day of eac~ mont~ after that. Borrower will pay this loan in one ~ayment of all outstanding principal ~lus all accrued interest on t~e ~piration Date. Borrower may borrow, re,ay and reborrow ~ereun~er until t~e ~piralion Date, subject to the terms and conditions of t~Js Note. The "Expiration Date" shall mean August 18, 2000, or such later date as may be designated by written notice from Lender to aorrower but in no event after the tenth anniver~ of the date of t~is Note. Borrowe~ acknowledges and agrees that m no event wil~ Lender be under any obligation to e~end or renew the loan or this Note beyond the in,rial ~piration Date. In no event shall lhe aggregate unpaid principal amount of aavances under this Note exceed the face amount of this Note. Borrower w~ll pay Lender af Lender's address s~own a~ove or at such other place as Lender may designate in writing. Un~ess otherwise agreed or required ~y applicaDle law, ¢ayments will be applied first to accrued unpaid interest, t~en fo principal, and any remaining amount to any unoaid coliecfion COSTS and ~ate charges. VARIAPLE INTEREST RATE. The interest rate on t~is Note ~s subject to c~ange from time to lime ~ased on changes pn an pndeoendent index whic~ ~s t~e highest Prime Rate ~s puD)isled m t~e "Money Rates* section of The Wall Street Journa~ (t~e "Index"). The index is not necessarily t~e lowest rate charged by Lender on its loans. ~f ~he index ~ecomes unavailable d~r~ng the term of t~s scan, Lender may oeslgnate a suustitute ~ndex after ~o Borrower. Lender Will tell Borrower t~e current Index rate upon Borrower's request, sorrower understands that Lender may make I~ans based on other rates as well. The interest rate change will not Occur more often t~an each month. The ~ndex for a Bililpg Cycle is determined on t~e first day of that cycle baaed o~ the index for the fast day o¢ t~e preceding calendar month w~ch is reposed. Interest o¢ this Note is com~uled on ~he basis of a year of 268/365 days, ~y applying the ratio of the a~nual interest rate on the first day 0¢ the Billing Cycle ever ~ year of 366/365 days ~o oD/din a daily penodic rate, multiplied by the average daily balance during the Bitling Cycle, muibp)~ed by the number o~ days m the Billing Cycte. Billing Cycie means the monthly inte~al betwee¢ regular periodic statements. T~e Index c~rrenlly is ~.0oo% per annum. The interest rate to De applied to the principal ~alance o¢ t~is Note will be al a rate of 1.000 percentage poinl over Ihs Index, res~lting in an initial rate of ~.000% ~er annum. NOTICE: Under no c~rcumstances will the interest rate on this Note ~e more t~an the maximum rate at,owed by appticab[e ~aw. PREPAYMENT. 8orrower may pay without penalty all or a portion of t~e amount owed earher than it is due. Eddy ~aymems w~li pot, unless agr~d te by Lender in writing, reheve Borrower of Borrower's ¢bt~gation to continue to make payments of accrued unpaid interest. Rat~er, t~ey will reduce the principal balance due. LATE CHARGE. ffa payment is 15 days or more late, Borrpwer w/f~ De charged 5.000% of the unpaid portion of the regularly scheduled paymenl or S100.00, whichever is less, DEFAULT. 8orrower wil~ ~e in PefauJt if any of l~e following ~appeds; (a) BOrrower lapis to make any payment when due. (b) Borrower breaks any promise 8orrower ~as made to Lender, or 80rrower fai~s to comply wi~ or ~o perform when due ~ny other term, obligation, covenanL Qr contained m th~s Note Pr any agreement related to this N~e, or ~n any other agreement or ~oan Borrower ~as with Lender (c) &ny regresentation or 5tatemePt made 0r furnished fo Lender Oy Borrower or on Borrower's behalf is false or m~sieadfng pn any mafer~al respect e~t~er now or at fha time made or furnished (d) 8¢rrower becomes insolvent, a receiver ts appointed for any pert of Borrower's propeRy. 8orrower makes an assignment for ben¢it of creditors, or any proceeding ~s commenced either by Borrower or against Borrower under any usnkruptcy or insolvency Jaws. (e} Any creditor tries to take any of Borrower's pro~erty on or ~n w~ic~ Lender has a lien or secudty interest. This includes a garnishment of any of Borrower's accoudts with Lender (f) Apy guarantor dies or any of f~e other events described in fb~s oef&ulf section occurs with respect to any guarantor of th~s Note. (g) A mater,s) adverse change occurs in Borrower's financial condition, or Lender ~eheves t~e prospect of payment or performance of the ~ndebfed~ess rs rmDa~red LENDER'S RIGHTS. Upon default. Lender may after g~wng such notices ~s requrred by acoJicable Paw. declare the enhre u~Daid pnnc~pai balance o¢ matter,fy Lender. at ifs optics, m~y also. if permitted under ~¢¢~JcaDle Jaw, increase the ,¢'arJ~ole interest rate On f~Js Note '.o 5.000 percentage berets over f~e ~pdex. The ~n~erest rate wl]l not exceed t~e maximum rate permitted Dy applicable paw Lender may h~re or pay someone else to hetp th~s Note pf Borrower odes not pay Borrower a~so w~¢l pay Lender shat amount. Th~s ~ncJude5, subject to any iimifs upder apphcable law, Lenders attorneys fees and Lender's iegaJ expenses whether or not there is a PawsuJt, including attorneys' fees and legal exoenses for bankruDtcy proceedings (~nct~d~mg efforts ~o modify or vacate any automatic stay or ~n/u~ChOn), appeals, and any anticipated post-~udgment collection serwces. It not prohibited by appl~caDPe Paw, Borrower also will ~ay any court costs. ~d addition to all other sums provided ~y law. I¢ judgment ~s entered in connection w~t~ thrs Note. Interest w~i~ continue [o accrue on this Note after ~udgment at the ~¢feresf rate applicable to this Note al the time judgment ~5 entered. This Note has been delivered lo Lender and accepled by Lender in fha Commonwealt~ of Pennsylvania, If lhere is a lawsuJ[, 8orrower agrees upon Le~der's request to s~H fo lhe j~risdJclJon of l~e courts of CUMBERLAND Courtly, the Co~monw~all~ of Rennsylva~ia. Lender and eorrower ~ereby waive lhe righl [o any juw trial ~n any action, proceeding, or counterclaim brought by eilher Lender or Borrower against the ol~er T~iS Note ¢~afl be governed Dy and construed in accordance wit~ the laws of the Commonwealth of PennsWvania. RiOHT OF SETOFF Borrower gramts to Lender a contractual securrtv rmterestrn, and nerebv assigns, conveys, dehvers, oJegges, and transfers to ................... P'a~ /_ Loan No (GontinuBd) receives from Borrower at Lender's address shown shove written notice of revocation of their authority: CHARLES E. BINGMAN, PRESIDENT. Borrower may obtain advances from time ti) time by writing checks in amounts of not less than $100.00 Or by using other methods which Lender may permit and may continue to obtain advances until this loan is terminated. Lender agrees to pay checks, so long as they cio not cause the pdncibal balance to exceed the taco amount of this Note, which are dated, drawn and issued by Borrower on or prior to the Expiration Date and received by Lenber on or prior to the Expiration bate or within five business days after the Expiration Date, except as provided in the next sentence. Lender has no obligation to pay any check dated, drawn or issued by Borrower or received by Lender during any period when Lender is not obligated to advance funds under this Note. Sorrower agrees to be lisble for stl sums e~ther: [a) advsnced in accordance with the instructions of an authorized person or (b) credited to any of 8orrower's accounts with Lender, The unpaid principal balance owing on this Note at any time rosy be evidenced by endorsements on tins Note or by Lender's internal records, including daily ccmduter print-outs. Lender will hove no obligation to advance funds under this Note if: (a) Sorrower or an'/ guarantor is in default under the terms of this Note or any agreement that Borrower or any guarantor has w~th Lender, including any agreement made in connection with the signing of this Note; (b) Sorrower or any guarantor ceases doing business ar is insolvent; (c) any guarantor seeks, o~aims or otherwise attempts to [imlt, modify or revoke such guarantor's guarantee of th~$ Note or any other loan with Lender; or rd) Borrower has applied funds provided pursuant to this Note for purposes other than those authorized by Lender. FEES. if apphcable, at ctosing. Sorrower w~ll pay to Lender a fee in the amount cf up ~o two percent (2%) of the msx~mum pnncipsl amount of th~s Note. An annual renewa~ fee tn the amount of up to two percent f2%) of the maximum pnnc[pal amount of this Note may also be charged if this Note is renewed beyond the current Exbiration Date m Lender's discretion. FINANCIAL INFORMATION PROVISION, Sorrower agrees to deliver any financial and other business information concerning Borrower that Lender may request from time to time, such as annual and interim financial statements (ali of w~ich shall be prepared in a. ccordance with generally accepted accounting principles) and federal income tax returns. YEAR 2000 COMPLIANCE. Sorrower has reviewed the eress within its business and operations which could be adversely affected by, and has devetoped or ts developing a program to address on a timely basis the risk that cedain computer applications used by Borrower may be unable to recognize and pedorm proper~y date--sensitive functions involving dates prior to and after Oecember 31, t999 (the "Yesr 2000 Problem'*), The Year 2000 Problem will not result, and is not reasonably expected to result, in any matenel adverse effect on the business, broperties, assets, financial condition, reau[ts of operations or prospects of Borrower. or the abiiity of Sorrower to duly and punctually pay or perform its obligations hereunder and under the Related Documents. GENERAL PROVISIONS. Lender may delay or forgo entcmmg any of its rights or remedies under this Note without losing them. Sorrower and any other oerson who s~gns, guarantees or endorses th~s Note, to the extent a/lowed by law, waive presentmenL demand for payment, protest and not[ce of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly ststed in wnting, no party who s~gns tins Note, whether as maker, guarantor, accommodation maker or endorser, shsll be released from liabitity. All such parties agree that Lender may renew or extend (repsstedly and for any length of time) th~s loan, or release any party or guarantor or collaterah or ~mpatr, fail to restize u0on or perfect Lender's security interest in the cal~atera, h and take any other action deemed necessary by Lender without the consent of or n0tice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the oarty with whom the modification is made. ff any portion of this Note ~s for an,/ reason determined to be unenforces~e, it wiJ{ not affect the enforceability of any other prowsions of th~s Note. CONFESSION OF JUDGMENT. BORROWER HEREBY IRREVOCABLY AUTHORIZES ANO EMPOWERS ANY ATTORNEY OR THE PROTHONOTARY OR CLERK OF ANY COURT IN THE COMMONWEALTH OF PENNSYLVANIA, OR ELSEWHERE, TO APPEAR AT ANY TIME FOR BORROWER AFTER A DEFAULT UNDER THIS NOTE, AND WITH OR WITHOUT COMPLAINT FLLED, AS OF ANY TERM, CONFESS OR ENTER JUDGMENT AGAINST BORROWER FOR THE ENTIRE PRINCIPAL SALANCE OF THIS NOTE, ALL ACCRUED iNTEREST, LATE CHARGES. AND ANY AND ALL AMOUNTS EXPENDED OR ADVANCED BY LENDER RELATING TO ANY COLL-~TERAL SECURING THIS NOTE TOGETHER WiTH iNTEREST ON SUCH AMOUNTS, TOGETHER WITH COSTS OF SUIT, AND AN A~TORNEY'S COMMISSION OF TEN PERCENT it0%) OF THE UNPAID PRINCIPAL BALANCE AND ACCRUED INTEREST FOR COLLECTION, BUT IN ANY EVENT NOT LESS THAN FIVE HUNORE0 DOLLARS ($500~ ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE LMMEDIATELV: AND FOR SO DOING, THIS NOT~ OR A COPY OF THiS NOTE VERIFIED BY AFPlDAVIT SHALL BE SUFPICIENT WARRANT THE ~UTHORITY GRANTED ~N THIS NOTE TO CONFESS JUDGMENT AGAINST BORROWER SHALL NOT BE EXHAUSTED BY ANY EXERC',SE OF THAT AUTHOR1~'v, SUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT iN PULL OF ALL AMOUNTS DUE UNDER THIS NOTE BORROWER HERESY WAIVES ANY RIGHT SORROWEF MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION WITH ANY SUCH CONFESSION OF JUDGMENT. EXCEPT ANY NOTICE ANO/OF HEARING REQUIRED UNDER APPLtCABLB LAW WiTH RESPECT TO EXECUTION OF THE JUDGMENT, ANO STATES THAT EITHER I REPRESENTATIVE OF LENDER SPEC~FICALLY CALLED THIS CONFESSION OF JUDGMENT PROVISION TO BORROWER'S ATTENTION OF SORROWER HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE. INCLUDING THE VARIASLI INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE AND ACKNOWLEDGES RECEIPT OF A COMPLL~TE' COPY OF THE NOTE. THiS NOTE HAS SEEN SIGNED AND SEALED BY THE UNDERSIGNED. BORROWER: MODERN CON(~EPT~, C~ARLES E. ~t~MAN, PNC BANK, NATIONAL A~SO.CIATION : IN THE COURT OF COMMON PLEAS Plaintiff : CUMBERLAND COUNTY, PENNSYLVANIA : v. : NO. : CHARLES E. BINGMAN AND CONNIE L.: CONFESSION OF JUDGMENT BINGMAN : CIVIL ACTION - LAW Defendants : VERIFICATION I, Eric Krimmel, Assistant Vice President, for PNC Bank, National Association, being authorized to do so on behalf of PNC Bank, National Association, hereby verify that the statements made in the foregoing pleading are tree and correct to the best of my information, knowledge and belief. I understand that false statements herein are made subject to the penalties of 18 Pa. C.S. Section 4904, relating to unsworn falsification to authorities. PNC BANK, NATIONAL ASSOCIATION Date: o!/'~0/OI By: Eric Krimmel Assistant Vice President PNC BANK, NATIONAL ASSOCIATION : IN THE COURT OF COMMON PLEAS Plaintiff : CUMBERLAND COUNTY, PENNSYLVANIA : v. : NO. : CHARLES E. BINGMAN AND CONNIE L. : CONFESSION OF JUDGMENT BINGMAN : CIVIL ACTION - LAW Defendants : CERTIFICATE OF ADDRESSES I hereby certify that the precise address of Plaintiff, PNC Bank, National Association., is 4242 Carlisle Pike, Camp Hill, Pennsylvania 17011; and that the last known address of the Defendants, Charles E. Bingman and Connie L. Bingman, is 712 Hilltop Drive, New Cumberland, Pennsylvania 17070. Date: Respectfully submitted, SA/DIS, SHUFF, FLOWER & LINDSAY /?arl M. L~er bohm, Esquire Supreme Court ID #59012 2 109 Market Street Camp Hill, PA 17011 (717) 737-3405 PNC BANK, NATIONAL ASSOCIATION : IN THE COURT OF COMMON PLEAS Plaintiff : CUMBERLAND COUNTY, PENNSYLVANIA v. :NO. O I -- )O~,.~ : CHARLES E. BINGMAN AND CONNIE L.: CONFESSION OF JUDGMENT B1NGMAN : CIVIL ACTION - LAW Defendants : TO: NOTICE Charles E. Bingman and Connie L. Bingman, Defendants Pursuant to Rule 236 of the Supreme Court of Pennsylvania, you are hereby notified that a JUDGMENT BY CONFESSION has been entered against you in the above proceeding and that enclosed herewith is a copy of all the documents flied in support of the said judgment. YOU HAVE ANY QUESTIONS CONCERNING THIS NOTICE, PLEASE CALL: KARL M. LEDEBOHM, ESQUIRE TELEPHONE NUMBER: (717) 737-3405 PNC BANK, NATIONAL ASSOCIATION : IN THE COURT OF COMMON PLEAS Plaintiff : CUMBERLAND COUNTY, PENNSYLVANIA v. : No. Or-- tc~ 6,0', t '--~ ; CHARLES E. BINGMAN AND CONNIE L.: CONFESSION OF JUDGMENT BINGMAN : CIVIL ACTION - LAW Defendants : ENTRY OF APPEARANCE TO THE PROTHONOTARY: Please enter the appearance of the undersigned on behalf of PNC Bank, National Association, Plaintiff in the above captioned matter. Date: Respectfully submitted, SAIDIS, SHUFF, FLOWER & LINDSAY K~rl M. ldedebohm, Esquire Supreme Court ID #59012 2109 Market Street Camp Hill, PA 17011 (717) 737-3405 PNC BANK, NATIONAL ASSOCIATION Plaintiff CHARLES E. BINGMAN AND CONNIE L. BINGMAN Defendants IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA NO. CONFESSION OF JUDGMENT CIVIL ACTION - LAW AFFIDAVIT OF NON-MILITARY SERVICE TO THE PROTHONOTARY: I do certify, to the best of my knowledge, that the Defendants, Charles E. Bingman and Connie L. Bingman, in the above-captioned action are not presently on active or nonactive military status. Respectfully submitted, SAIDIS, SHUFF, FLOWER & LINDSAY M Ledebohm, Esquire Supreme Court ID #59012 2109 Market Street Camp Hill, PA 17011 (717) 737-3405