HomeMy WebLinkAbout10-5834r
PROMISSORY NOTE WITH CONFESSION OF
JUDGMENT
September 7, 2010
FOR VALUE RECEIVED, and INTENDING TO BE
LEGALLY BOUND we, THOMAS E. MARTIN, JR.,
BARBARA K. MARTIN, and HELEN E. MARTIN, of 329
Lamborntown Road, West Grove, Pennsylvaniag?ereinafter
called the "Obligors"), hereby promise to pay to JOHN
BRIAN McPHILLIPS, of 1027 Redtail Road, Audubon,
Pennsylvania 19403, and his heirs and assigns (hereinafter
collectively called the Obligee), Thirty-five Thousand Dollars
($35,000.00) plus interest at the rate of eight and one-half
percent per annum and costs, as hereinafter more fully set forth,
without setoff or default upon demand.
Obligors hereby waive presentment, dishonor, demand,
protest, notice of protest and notice of nonpayment or dishonor.
Obligors agree that if this note is placed in the hands of an
attorney for collection, a reasonable attorney's fee equal to such
attorney's fees as developed as a result of the collection process
shall become due and payable also. Said fee shall have added
to it, reimbursement of costs incurred in preparing all
documents for collection after default hereunder.
Obligors do irrevocably authorize the Prothonotary or any
attorney of any court of record to appear for them in any court
at any time and to confess judgment against Obligors, without
process or hearing, in favor of the Obligee or any holder of this
note, with or without a Complaint, except as required by the
rules of such court, for the principal balance due hereunder,
a 0.
together with interest, costs and attorney fees as herein
provided; and waive right to appeal and consent to an
immediate execution upon such judgment, and ratify and
confirm all that said attorney or court officer may do by virtue
hereof, waive and release any benefit of stay of execution and
exemption laws which may be waived. Such authority shall not
be exhausted by one exercise thereof, but may be repeatedly
confessed as aforesaid from time to time as and when any such
sums shall be due after default hereunder.
This note has been given as the result of a commercial
transaction and loan by the Obligee to the Obligors, and the
Obligors hereby aver that each earns in excess of $10,000. per
year and is aware of the legal significance of this Confession of
Judgment clause, which permits entry of a lien in the
courthouse against their property, both real estate and
personalty, without advance notice or hearing.
IN WITNESS WHEREOF, we have hereunto set my
hand and seal.
(SEAL)
THOMAS E. MAR
&'?'? (SEAL)
BARBARA K. MARTIN
(SEAL)
HELEN E. MARTIN
,?•? CRY
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JOHN BRIAN McPHII,LIPS
Plaintiff
vs.
THOMAS E. MARTIN, JR.
BARBARA K. MARTIN
HELEN E. MARTIN
Defendants
IN THE COURT OF COMMON PLEAS
CUMBERLAND COUNTY, PENNSYLVANIA
No. 10-5834 Civil
CIVIL ACTION
pRAFr PE TO SATISFY JUDGMENT
To the Prothonotary:
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Kindly mark the above referenced judgment "Satisfied" upon only payment of your
costs.
~~~
September 30, 2010