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Home My WebLink About04-3661 04-Jt.'-l Clad, <--rEn-Yf PROMISSORY NOTE n:;,':'_v:uJ ~~ 19/ --t v v" EDWARD K LEDERER, (the "Maker"), having an address of Dauphin County, Pennsylvania, hereby promises to pay to the order of J. MICHAEL ADLER, or his assigns, (the "Payee"), in lawful money of the United States of America, and at such place as Payee may designate the principal sum of Thirty- Six Thousand Five Hundred and 00/100 Dollars ($36,500.00). July 14, 2004 Carlisle, Pennsylvania Interest shall accrue at the rate of six and one-half percent (6.5%) per annum. This Note is due and payable on demand. Said payment on demand, shall include the principal sum ofThirty-Six Thousand Five Hundred and 00/100 Dollars ($36,500.00) plus any and all interest having accrued from the date of execution hereof to the time of final payment in full. A late charge often percent (10%) of the payment due to Payee hereunder if such payment is not made within ten (10) days of the date on which it is due and the amount of such late charge(s) shall immediately be added to the indebtedness hereunder. The occurrence of anyone of the following shall constitute an Event of Default by the Maker: (a) nonpayment of any of the liabilities, or any portion thereof, when and in the manner due, whether by acceleration or otherwise; (b) the institution of any proceeding in bankruptcy, receivership or insolvency by or against the Maker, or (c) partial or full transfer or sale of or an interest in property located at 412 State Street, West Fairview Borough, Cumberland County, Pennsylvania this Note without the written consent of Payee prior to the full and final payment and satisfaction of the obligations set forth in this Note. The Maker hereby waives presentment for payment, notice of demand, notice of nonpayment or dishonor, protest, notice of protest, and all other notices in connection with the delivery, acceptance, performance, default or enforcement of the payment of any liability hereunder. Upon the occurrence of any Event of Default, the principal and all liabilities owed to Payee by Maker together with costs of collection, including reasonable attorneys' fees, which shall in no event be less than One Thousand Dollars ($1,000.00), are immediately due and payable, as if the same had in the first instance been payable at such time. Payee may exercise any and all remedies that the Payee may then possess under the Uniform Commercial Code or any other applicable law, regulation or controlling legal authority. All rights or remedies of the Payee set forth or otherwise existing are cumulative. No delay or failure by the Payee herein, in exercising any of his options, powers or rights or a partial or single exercise constitutes a waiver of the right to exercise the same of any other right at any other time or from time to time thereafter. THE FOLLOWING PARAGRAPHS SET FORTH A WARRANT OF AUTHORITY FOR AN ATTORNEY TO CONFESS JUDGMENT AGAINST THE MAKER. IN GRANTING THIS WARRANT OF AUTHORITY TO CONFESS JUDGMENT AGAINST THE MAKER, THE MAKER HEREBY KNOWINGLY, INTENTIONALLY AND VOLUNTARILY, AND UNCONDITIONALLY, WAIVES ANY AND ALL RIGHTS THE MAKER HAS OR MAY HAVE TO PROPER NOTICE AND AN OPPORTUNITY FOR HEARING UNDER THE RESPECTIVE CONSTITUTIONS AND LAWS OF THE UNITED STATES AND THE COMMONWEALTH OF PENNSYLVANIA. UPON AN EVENT OF DEFAULT, THE MAKER HEREBY AUTHORIZES AND EMPOWERS IRREVOCABLY THE PROTHONOTARY OR ANY CLERK, OR ANY ATTORNEY OF ANY COURT OF RECORD OF PENNSYLVANIA OR ELSEWHERE TO APPEAR FOR AND TO CONFESS JUDGMENT AGAINST MAKER FOR ALL AMOUNTS DUE AND ALL OTHER LIABILITIES AS OF ANY TIME, PAST, PRESENT OR FUTURE. AND SUCH CONFESSION SHALL BE WITH OR WITHOUT DECLARATION, WITH COSTS OF SUIT, RELEASE OR ERRORS, WITHOUT STAY OF EXECUTION, WITH REASONABLE ATTORNEY'S FEES ADDED WHICH IN NO EVENT SHALL BE LESS THAN ONE THOUSAND DOLLARS ($1,000.00). THE MAKER FURTHER AGREES THAT REAL, PERSONAL OR MIXED PROPERTY MAY BE SOLD UPON ANY WRIT OF EXECUTION AS NOW OR HEREAFTER PROVIDED BY LAW OR THE RULES OF CIVIL PROCEDURE GOVERNING THE ENFORCEMENT OF JUDGMENTS. THE MAKER WAIVES AND RELEASES ALL RELIEF FROM ALL APPRAISEMENT, STAY OR EXEMPTION, LAWS OR RULES OF COURT, NOW IN FORCE OR HEREAFTER ENACTED OR ADOPTED. THE MAKER ACKNOWLEDGES THAT BY AGREEING THAT THE PAYEE MAY CONFESS JUDGMENT HEREUNDER, HE WAIVES THE RIGHT TO NOTICE IN A PRIOR JUDICIAL PROCEEDING TO DETERMINE RIGHTS AND LIABILITIES. MAKER FURTHER ACKNOWLEDGES THAT THE PAYEE MAY OBTAIN A JUDGMENT AGAINST THE MAKER WITHOUT THE MAKER'S OPPORTUNITY TO RAISE ANY DEFENSE, SET OFF, COUNTERCLAIM OR OTHER CLAIM MAKER MAY HAVE. MAKER EXPRESSLY WAIVES SUCH RIGHTS AS AN EXPLICIT AND MATERIAL PART OF THE CONSIDERATION PROVIDED BY PAYEE. NO SINGLE EXERCISE OF THE FOREGOING WARRANT AND POWER TO CONFESS JUDGMENT IS DEEMED TO EXHAUST THE POWER, WHETHER OR NOT ANY SUCH EXERCISE IS HELD BY ANY COURT TO BE INVALID, VOIDABLE OR VOID, BUT THAT POWER SHALL CONTINUE UNDIMINISHED ANY MAY BE EXERCISED FROM TIME TO TIME AS OFTEN AS THE PAYEE ELECTS UNTIL ALL LIABILITIES HAVE BEEN PAID IN FULL. If any provision hereof is found by a court of competent jurisdiction to be prohibited or unenforceable, it shall be ineffective only to the extent of such prohibition or unenforceability, and such prohibition or unenforceability shall not invalidate the balance of such provision to the extent it is not prohibited or unenforceable, nor invalidate the other provisions hereof, all of which shall be liberally construed in favor of Payee in order to effect the provision of the Note. The words "Payee" and "Maker" whenever occurring herein shall be deemed and construed to include the respective heirs, executors, successors and assigns of Payee, on the one hand, and Maker on the other hand. This Note shall be governed by and construed according to the laws of the Commonwealth of Pennsylvania without reference to any choice or conflict of law rules that might otherwise apply. IN WITNESS WHEREOF, and intending to be legally bound, the Maker has executed this Note as of the day and year first above written. WIT~ ;> MAK~. ~ EDWARD)l( LE~RER r- DISCLOSURE FOR CONFESSION OF JUDGMENT I am executing this the jt/1':ay of J~ , 2001 the Promissory Note for Thirty-Five Thousand attoo/100 Dollars &5.000.00) obligating me to repay that amount. Initials: G'JL This Note is being executed by me for a commercial transaction. - Initials: 1-= S L I understand that the Note contains wording that would permit Payee, to enter judgment against me at the courthouse, whether or not said Note is in default, without prior notice to me and without offering me an opportunity to defend against the entry of judgment, and that the judgment may be collected by any legal means. Initials: t::':f1-- In executing this Note, I am knowing, understandingly and voluntarily waiving my rights to resist the entry of judgment against me at the courthouse, and am consenting to the confession of judgment. Initials: ET L I certify that my annual income exceeds $10,000.00, that the blanks in the above Note and this Disclosure were filled in when I initialed and signed same, and that I received a copy hereof at the time of signing. Initials: E:JL WITNESS: ~ ".~ EDWARD1l. LEDERElU COMMONWEALTH OF PENNSYLVANIA ~{,.j{,,'1 COUNTY OF CUMBERLAND : ss 1 ~ On this, the 14th day of July, 20~~e, the undersigned officer, a Notary Public, personally appeared EDWARD"~FLEDERER known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my h ------- Notary P . NOTARIAL SEAl. PIdC \ ~~:arrr. ... J ,.... - . AJ D ~~ ~ ).J r- N ~ ~ () to-.-,.) :::: ~2 S~~ 2:= :--f 1;;:;:: i+h 7-' "', 'T!F~ ..., :Ul:? ;~ ,;:i,il, w C~)...n .. <! C,-, ' U1 ~'-? ~ -:-C C; f! ~ "'-!y ""-"tJ C<) t ~~ ~ ~ ~ (Y) ~C;;~ e ;g. .f ~~~~ {tf r ~ ro~~ :p ~ r tg --?- ~~ ~' r 1. MICHAEL ADLER, Plaintiff : IN THE COURT OF COMMON PLEAS : OF CUMBERLAND COUNTY,PA v. : NO. 2004-03661 EDWARD J. LEDERER, Defendant PRAECIPE TO SATISFY AND DISCONTINUE TO THE PROTHONOTARY: ..... Dear Prothonotary: Please mark dte above captioned action as satisfied and discontinued. --- ~ -M~ J. Michael Adler Date: November 7,2006 g --JiI" > -Of}. ''1' f-' ~~...~ .-~ / .-" ~~:::.-") '- '0:: ,; ~C~ 2~>c ~-- .~~.. PC --;;" =~ y...:l c:::> <3 !O ::0 \ ("o.J -0 > ~ ~-rI rI1r=:: -0 t!1 :ny S~~ ~t\ '~lcJ ;'<-\,,11 9 -p ?l - .- <.>) -