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HomeMy WebLinkAbout04-5625PENNSYLVANIA STATE BANK Plaintiff V. RICHARD L. GUERIN and ALISON M. GUERIN Defendants IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA NO. ©? -",??a2st V??? CIVIL ACTION - LAW CONFESSED JUDGMENT PRAECIPE FOR ENTRY OF CONFESSED JUDGMENT ON GUARANTY TO THE PROTHONOTARY: Please enter Judgment in favor of Plaintiff, PENNSYLVANIA STATE BANK, and against Defendants, RICHARD L. GUERIN and ALISON M. GUERIN, of 3615 Dwayne Avenue, Mechanicsburg, Cumberland County, Pennsylvania, in the amount of $275,000.00 in accordance with the Commercial Guaranty attached hereto. TO Cumberland County Prothonotary Dated: November 5, 2004 Robert D. Kodak Attorney I.D. No. 18041 Attorney for Plaintiff ER\BONNIEJO\PSB\CONFJUDG\SPINNAKER ET AL\guerin.wpd:03Sep04 COMMERCIAL GUARANTY -Principal Loiain-Date...?. Maturity.. Loan. No ? Call [Collateral] ;fit 5? ? l ? p r.l Initials References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Borrower: Spinnaker Services, Inc. (TIN: 25-1838391) Lender: PENNSYLVANIA STATE BANK 701 W. Siddonsburg Road Cumberland Parkway Dilisburg, PA 17019 91 Cumberland Parkway Mechanicsburg, PA 17055 Guarantor: Richard L. Guerin and Alison M. Guerin 3615 Dwayne Avenue Mechanicsburg, PA 17055 AMOUNT OF GUARANTY. This is a guaranty of payment of 100.000% of the Note, including without limitation the principal Note amount of Two Hundred Seventy Five Thousand & 001100 Dollars ($275,000.00). GUARANTY. For good and valuable consideration, Richard L. Guerin and Alison M. Guerin ("Guarantor") absolutely and unconditionally guarantee and promise to pay, jointly and severally, to PENNSYLVANIA STATE BANK ("Lender") or its order, in legal tender of the United States of America, 100.000% of the Indebtedness (as that term is defined below) of Spinnaker Services, Inc. ("Borrower") to Lender on the terms and conditions set forth in this Guaranty. Guarantor agrees that Lender, in its sole discretion, may determine which portion of Borrower's indebtedness to Lender is covered by Guarantor's percentage guaranty. DEFINITIONS. The following words shall have the following meanings when used in this Guaranty: Borrower. The word "Borrower" means Spinnaker Services, Inc.. Guarantor. The word "Guarantor" means Richard L. Guerin and Alison M. Guerin, who are signing this Guaranty jointly and severally. Guaranty. The word "Guaranty" means this Guaranty made by Guarantor for the benefit of Lender dated September 18, 2000. Indebtedness. The word "Indebtedness" means the Note, including (a) all principal, (b) all interest, (c) all late charges, (d) all loan fees and loan charges, and (e) all collection costs and expenses relating to the Note or to any collateral for the Note. Collection costs and expenses include without limitation all of Lender's attorneys' fees and Lender's legal expenses, whether or not suit is instituted, and attorneys' fees and legal expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services. Lender. The word "Lender" means PENNSYLVANIA STATE BANK, its successors and assigns. Note. The word "Note" means the promissory note or credit agreement dated September 18, 2000, In the original principal amount of $275,000.00 from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. Related Documents. The words "Related Documents" mean and include without limitation all promissory notes, credit agreements, loan agreements, environmental agreements, guaranties, security agreements, mortgages, deeds of trust, and all other instruments, agreements and documents, whether now or hereafter existing, executed in connection with the Indebtedness. MAXIMUM LIABILITY. The maximum liability of Guarantor under this Guaranty shall not exceed at any one time 100.000% of the amount of the Indebtedness described above, plus all costs and expenses of (a) enforcement of this Guaranty and (b) collection and sale of any collateral securing this Guaranty. The above limitation on liability is not a restriction on the amount of the Indebtedness of Borrower to Lender either in the aggregate or at any one time. If Lender presently holds one or more guaranties, or hereafter receives additional guaranties from Guarantor, the rights of Lender under all guaranties shall be cumulative. This Guaranty shall not (unless specifically provided below to the contrary) affect or invalidate any such other guaranties. The liability of Guarantor will be the aggregate liability of Guarantor under the terms of this Guaranty and any such other unterminated guaranties. NATURE OF GUARANTY. Guarantor intends to guarantee at all times the performance and prompt payment when due, whether at maturity or earlier by reason of acceleration or otherwise, of all Indebtedness within the limits set forth in the preceding section of this Guaranty. The obligations of Guarantors shall be joint and several. Lender may proceed against any of the Guarantors individually, against any group of Guarantors, or against all the Guarantors in one action, without affecting the right of Lender to proceed against other Guarantors for amounts that are covered by this Guaranty. Any inability of Lender to proceed against any Guarantor (whether caused by actions of a Guarantor or of Lender) will not affect Lender's right to proceed against any or all remaining Guarantors for all or part of the amounts covered by this Guaranty. DURATION OF GUARANTY. This Guaranty will take effect when received by Lender without the necessity of any acceptance by Lender, or any notice to Guarantor or to Borrower, and will continue in full force until all Indebtedness shall have been fully and finally paid and satisfied and all other obligations of Guarantor under this Guaranty shall have been performed in full. Release of any other guarantor or termination of any other guaranty of the Indebtedness shall not affect the liability of Guarantor under this Guaranty. A revocation received by Lender from any one or more Guarantors shall not affect the liability of any remaining Guarantors under this Guaranty. GUARANTOR'S AUTHORIZATION TO LENDER. Guarantor authorizes Lender, without notice or demand and without lessening Guarantor's liability under this Guaranty, from time to time: (a) to make one or more additional secured or unsecured loans to Borrower, to lease equipment or other goods to Borrower, or otherwise to extend additional credit to Borrower; (b) to alter, compromise, renew, extend, accelerate, or otherwise change one or more times the time for payment or other terms of the indebtedness or any part of the Indebtedness, including increases and decreases of the rate of interest on the Indebtedness; extensions may be repeated and may be for longer than the original loan term; (c) to take and hold security for the payment of this Guaranty or the Indebtedness, and exchange, enforce, waive, subordinate, fall or decide not to perfect, and release any such security, with or without the substitution of new collateral; (d) to release, substitute, agree not to sue, or deal with any one or more of Borrower's sureties, endorsers, or other guarantors on any terms or In any manner Lender may choose; (e) to determine how, when and what application of payments and credits shall be made on the Indebtedness; (f) to apply such security and direct the order or manner of sale thereof, including without limitation, any nonjudicial sale permitted by the terms of the controlling security agreement or deed of trust, as Lender in its discretion may determine; (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. GUARANTOR'S REPRESENTATIONS AND WARRANTIES. Guarantor represents and warrants to Lender that (a) no representations or agreements of any kind have been made to Guarantor which would limit or qualify in any way the terms of this Guaranty; (b) this Guaranty is executed at Borrower's request and not at the request of Lender; (c) Guarantor has full power, right and authority to enter into this Guaranty; (d) the provisions of this Guaranty do not conflict with or result in a default under any agreement or other instrument binding upon Guarantor and do not result in a violation a si aja4l 11 aiuvAjAsuued ;o 14lieamuowwo0 ay; ui jepue-1 Aq peldeo0s pus lepuej of pejeAllep ueeq say A;umng S141. 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This Guaranty shall be governed by and construed in accordance with the laws of the Commonwealth of Pennsylvania. Attorneys' Fees; Expenses. Guarantor agrees to pay upon demand all of Lender's costs and expenses, including attorneys' fees and Lender's legal expenses, incurred in connection with the enforcement of this Guaranty. Lender may pay someone else to help enforce this Guaranty, and Guarantor shall pay the costs and expenses of such enforcement. Costs and expenses include Lender's attorneys' fees and legal expenses whether or not there is a lawsuit, including attorneys' fees and legal expenses for bankruptcy proceedings (and including efforts to modify or vacate any automatic stay or injunction), appeals, and any anticipated post-judgment collection services. Guarantor also shall pay all court costs and such additional fees as may be directed by the court. Notices. All notices required to be given by either party to the other under this Guaranty shall be in writing, may be sent by telefacsimile (unless otherwise required by law), and shall be effective when actually delivered or when deposited with a nationally recognized overnight courier, or when deposited in the United States mail, first class postage prepaid, addressed to the party to whom the notice is to be given at the address shown above or to such other addresses as either party may designate to the other in writing. It there is more than one Guarantor, notice to any Guarantor will constitute notice to all Guarantors. For notice purposes, Guarantor agrees to keep Lender informed at all times of Guarantor's current address. Interpretation. In all cases where there is more than one Borrower or Guarantor, then all words used in this Guaranty in the singular shall be deemed to have been used in the plural where the context and construction so require; and where there is more than one Borrower named in this Guaranty or when this Guaranty is executed by more than one Guarantor, the words "Borrower" and "Guarantor" respectively shall mean all and any one or more of them. The words "Guarantor," "Borrower" and "Lender" include the heirs, successors, assigns, and transferees of each of them. Caption headings in this Guaranty are for convenience purposes only and are not to be used to interpret or define the provisions of this Guaranty. If a court of competent jurisdiction finds any provision of this Guaranty to be invalid or unenforceable as to any person or circumstance, such finding shall not render that provision invalid or unenforceable as to any other persons or circumstances, and all provisions of this Guaranty in all other respects shall remain valid and enforceable. If any one or more of Borrower or Guarantor are corporations or partnerships, it is not necessary for Lender to inquire into the powers of Borrower or Guarantor or of the officers, directors, partners, or agents acting or purporting to act on their behalf, and any Indebtedness made or created in reliance upon the professed exercise of such powers shall be guaranteed under this Guaranty. Waiver. Lender shall not be deemed to have waived any rights under this Guaranty unless such waiver is given in writing and signed by Lender. No delay or omission on the part of Lender in exercising any right shall operate as a waiver of such right or any other right. A waiver by Lender of a provision of this Guaranty shall not prejudice or constitute a waiver of Lender's right otherwise to demand strict compliance with that provision or any other provision of this Guaranty. No prior waiver by Lender, nor any course of dealing between Lender and Guarantor, shall constitute a waiver of any of Lender's rights or of any of Guarantor's obligations as to any future transactions. Whenever the consent of Lender is required under this Guaranty, the granting of such consent by Lender in any instance shall not constitute continuing consent to subsequent instances where such consent is required and in all cases such consent may be granted or withheld in the sole discretion of Lender. DEFAULT INTEREST RATE. In the event of default for which Lender does not accelerate the Loan, including the failure of Borrower to provide the financial statements as required hereunder or under the Loan Agreement, the applicable interest rate on the Loan, for a period beginning three (3) days after written notice of such default and ending upon the curing of said noticed default, shall increase one quarter of one percent (.25%) for the first thirty (30) days of said default and increase an additional one quarter (25%) during each thirty (30) day period thereafter during which the notice default rate on the Loan shall revert to the initially agreed-upon interest rate effective on the date on which default is cured. FINANCIAL STATEMENTS. Furnish lender with, as soon as available, but in no event later than one hundred twenty (120) days after the end of each fiscal year, Guarantor's personal financial statement and federal income tax return. All financial reports required to be provided under this Agreement shall be prepared in accordance with generally accepted accounting principles, applied on consistent basis, and certified by Guarantor as being true and correct. 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 FILED, AS OF ANY TERM, CONFESS OR ENTER JUDGMENT AGAINST GUARANTOR FOR THE ENTIRE PRINCIPAL BALANCE OF THIS GUARANTY, ALL ACCRUED INTEREST, LATE CHARGES, AND ANY AND ALL AMOUNTS EXPENDED OR ADVANCED BY LENDER RELATING TO ANY COLLATERAL SECURING THE INDEBTEDNESS TOGETHER WITH 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 ANY EVENT NOT LESS THAN FIVE HUNDRED DOLLARS ($500) ON WHICH JUDGMENT OR JUDGMENTS ONE OR MORE EXECUTIONS MAY ISSUE IMMEDIATELY; AND FOR SO DOING, THIS GUARANTY OR A COPY OF THIS GUARANTY VERIFIED BY AFFIDAVIT SHALL BE SUFFICIENT WARRANT. THE AUTHORITY GRANTED IN THIS GUARANTY TO CONFESS JUDGMENT AGAINST GUARANTOR SHALL NOT BE EXHAUSTED BY ANY EXERCISE OF THAT AUTHORITY, BUT SHALL CONTINUE FROM TIME TO TIME AND AT ALL TIMES UNTIL PAYMENT IN FULL OF ALL AMOUNTS DUE UNDER THIS GUARANTY. GUARANTOR HEREBY WAIVES ANY RIGHT GUARANTOR MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION WITH ANY SUCH CONFESSION OF JUDGMENT, EXCEPT ANY NOTICE AND/OR HEARING REQUIRED UNDER APPLICABLE LAW WITH RESPECT TO EXECUTION OF THE JUDGMENT, AND STATES THAT EITHER A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THIS CONFESSION OF JUDGMENT PROVISION TO GUARANTOR'S ATTENTION OR GUARANTOR HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL. EACH UNDERSIGNED GUARANTOR ACKNOWLEDGES HAVING READ ALL THE PROVISIONS 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 AND THAT THE GUARANTY WILL CONTINUE UNTIL TERMINATED IN THE MANNER SET FORTH IN THE SECTION TITLED "DURATION OF GUARANTY." NO FORMAL ACCEPTANCE BY LENDER IS NECESSARY TO MAKE THIS GUARANTY EFFECTIVE. THIS GUARANTY IS DATED SEPTEMBER 18, 2000. THIS GUARANTY HAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED. " I f, ? GUARAN? k / f .............. ........... ....................... f ....... ........................ . .. ..............,..........................................rat.) x srs.r._ chard L. Guerin Allso Guerin T.? .mw 'mss I€tHaj Inv. 7V3 ON HAO'90 N"I'3NtlNNIdS6ZTl6Z'E30z3-Vdl'PQAJGSQJs;y6lJ (IV o00ZXGJlue0u00(0)tgZ'E'JaA`'j10'W'lV'3Ed's'n'6ea'0UdH3SVl )o a;B;S ey; jo; pug ui oiignd AMON leas IelalNo pue puey Aw las olunaiaq i ioaia4M ssoullm ul •peul9luo36leje43 sesodmd e43 jo; awes e43 pelnoexe Ae43 3943 peBpelmoulog pug 'luewnilsul w4jiM 94) of pagijosgns eiv seweu eso4M uosied e4l eq of (uenoid dlpolo93sll9s jo) ow of umoum 'u jano •w uoslM pue upong •1 piegolU pe dd9 AllBuosied 'ollgnd AMON peuBlsiepun eyl ' J `^^ ? l ! ew sjo)eQ ' OZ ' u l ` )o Asp ay) 's!4) uO 1 - J > ( f ?v 0 I ? YO do A1Nnoo j 9s( ( b\,-A LYY) I/Iwu Jo31V1s lN3WJ(331M0N)13V ivnalA1aNl (panuiluoo) LO-LLSOOVS ON MO' V 968d AlNdabno -ibl3a3wwo3 o0oz-U-& DISCLOS,oRE FOR CONFESSION OF vjDGMENT $2 I : ' ' .: Maturi# 0537-0# Galt Collateral.-1 5406 . DRAP r ?nRiaBtis References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Borrower: Spinnaker Services, Inc. (TIN: 25-1838391) Lender: PENNSYLVANIA STATE BANK 701 W. Siddonsburg Road Cumberland Parkway Dillsburg, PA 17019 91 Cumberland Parkway Mechanicsburg, PA 17055 Guarantor: Richard L. Guerin and Alison M. Guerin 3615 Dwayne Avenue Mechanicsburg, PA 17055 DISCLOSURE FOR CONFESSION OF JUDGMENT I AM EXECUTING, THIS 1 Y*' DAY OF Sc??• , 20 cc , A GUARANTY OF A PROMISSORY NOTE FOR $275,000.00 OBLIGATING ME TO REPAY THAT AMOUNT. A. I UNDERSTAND THAT THE GUARANTY CONTAINS A CONFESSION OF JUDGMENT PROVISION THAT WOULD PERMIT LENDER TO ENTER JUDGMENT AGAINST ME IN COURT, AFTER A DEFAULT ON THE GUARANTY, WITHOUT ADVANCE NOTICE TO ME AND WITHOUT OFFERING ME AN OPPORTUNITY TO DEFEND AGAINST THE ENTRY OF JUDGMENT. IN EXECUTING THE GUARANTY, BEING FULLY AWARE OF MY RIGHTS TO ADVANCE NOTICE AND TO A HEARING TO CONTEST THE VALIDITY OF ANY JUDGMENT OR OTHER CLAIMS THAT LENDER MAY ASSERT AGAINST ME UNDER THE GUARANTY, I AM KNOWINGLY, INTELLIGENTLY, AND VOLUNTARILY WAIVING THESE RIGHTS, INCLUDING ANY RIGHT TO ADVANCE NOTICE OF THE ENTRY OF JUDGMENT, AND I EXPRESSLY AGREE AND CONSENT TO LENDER'S ENTERING DGMENT AGAINST ME BY CONFESSION AS PROVIDED FOR IN THE CONFESSION OF JUDGMENT PROVISION. INITIALS: < .. B. I FURTHER UNDERSTAND THAT IN ADDITION TO GIVING LENDER THE RIGHT TO ENTER JUDGMENT AGAINST ME WITHOUT ADVANCE NOTICE OR A HEARING, THE CONFESSION OF JUDGMENT PROVISION IN THE GUARANTY ALSO CONTAINS LANGUAGE THAT WOULD PERMIT LENDER, AFTER ENTRY OF JUDGMENT, TO EXECUTE ON THE JUDGMENT BY FORECLOSING UPON, ATTACHING, LEVYING ON, TAKING POSSESSION OF OR OTHERWISE SEIZING MY PROPERTY, IN FULL OR PARTIAL PAYMENT OF THE JUDGMENT. HOWEVER, LENDER MUST PROVIDE NOTICE TO ME UNDER APPLICABLE LAW IN EXECUTING ANY CONFESSED JUDGMENT. IN EXECUTING THE GUARANTY, BEING FULLY AWARE OF MY RIGHTS TO ADVANCE NOTICE AND A HEARING AFTER JUDGMENT IS ENTERED AND BEFORE EXECUTION ON THE JUDGMENT, 1 AM KNOWINGLY, INTELLIGENTLY AND VOLUNTARILY WAIVING THESE RIGHTS, AND I EXPRESSLY AGREE AND CONSENT T L DER'S EXECUTING ON THE JUDGMENT, IN ANY MANNER PERMITTED BY APPLICABLE STATE AND FEDERAL LAW. INITIALS: C. AFTER HAVING READ AND DETERMINED WHICH OF THE FOLLOWING STATEMENTS ARE APPLICABLE, AND BY PLACING MY INITIALS NEXT TO EACH STATEMENT WHICH APPLIES, I REPRESENT THAT: INITIALS 1. 1 WAS REPRESENTED BY MY OWN INDEPENDENT LEGAL COUNSEL IN CONNECTION WITH THE GUARANTY. Awl- 2. A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THE CONFESSION OF JUDGMENT PROVISION IN THE GUARANTY TO MY ATTENTION. D. 1 CERTIFY THAT MY ANNUAL INCOME EXCEEDS $10,000; THAT THE BLANKS IN THIS DISCLOSURE WERE FILLED IN WHEN 1 INITIALED AND SIGNED IT; AND THAT i RECEIVED A COPY AT THE TIME OF SIGNING. THIS DISCLOSURE HAS BEEN SIGNED AND SEALED BY THE UNDERSIGNED. AFFIANT: X_.. .': f..•'?iti,_?.-... (SEAL) ?.f ....?? _.._. Richi cd L. Guerin ?.. LJi:?'i1 n ._.? X • : • - l _ „? k,,,,,4 .. Ail..`. (SEAL) meson M. Guerin LASER PRO, Reg. U.S. Pat. & T.M. Off., Ver. 3.29a (C) Concentrex 2000 All rights reserved. IPA-D30 E3.29 F3.29 SPINNAKE.LN C5.OVLI 1J- ar , -i . PENNSYLVANIA STATE BANK Plaintiff V. RICHARD L. GUERIN and ALISON M. GUERIN Defendants IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA NO. 014 CIVIL ACTION -LAW CONFESSION OF JUDGMENT PLAINTIFF'S AFFIDAVIT/AVERMENT CONFESSION OF JUDGMENT FOR MONEY (X) Pursuant to Pa. R.C.P. No. 2951(1)(2)(ii), I certify that this judgment is not being entered by confession against a natural person in connection with a consumer credit transaction. (a) A consumer credit transaction means a credit transaction in which the party to whom credit is offered or extended is a natural person and the money, property or services which are the subject of the transaction are primarily for personal, family or household purposes. CONFESSION OF JUDGMENT FOR CONFESSION OF REAL PROPERTY O Pursuant to Pa. R.C.P. No. 2971(1)(1), I certify that this judgment is not being entered against a natural person in connection with a residential lease. +++++++++++++++ The above certification is made subject to the penalties of 18 Pa.C. 0 elating to unsworn falsification to authorities. Dated: November 5, 2004 Robert D. Kodak, Esquire Attorney for Plaintiff I.D. No. 18041 Address: Knupp, Kodak & Imblum, P.C. 407 North Front Street Post Office Box 11848 Harrisburg, PA 17108-1848 (717) 238-7151 Fax: (717) 238-7158 `FV r. " mac;;; 142m PENNSYLVANIA STATE BANK Plaintiff v IN THE COURT OF COMMON PLEAS CUMBERLAND COUNTY, PENNSYLVANIA NO. 04-5625 CIVIL TERM RICHARD L. GUERIN and ALISON M. GUERIN Defendant(s) ` CIVIL ACTION - LAW PRAECIPE TO THE PROTHONOTARY: Please mark the above-captioned judgment as settled and satisfied in full. TO: Cumberland County Prothonotary Dated: October 4, 2007 Robert D. Kodak, Esquire Attorney for Plaintiff Attorney I.D. No. 18041 G C Q ?'` CM W .C"