Loading...
HomeMy WebLinkAbout13-7438 FI EO - O r FRCF " 'k E PPQ H'QNQ TAR'' 2 013 DEC 18 AM tl . 03 BARLEY SNYDER CUMBERLAND COUNTY William F. Colby, Jr., Esquire PENNSYLVANIA Keith Mooney, Esquire Court I.D. No. 46880; 74001 50 North Fifth Street, P.O. Box 942 Reading, PA 19603 -0942 (610) 376 -6651 Attorney for Plaintiff SUSQUEHANNA BANK SUCCESSOR COURT OF COMMON PLEAS OF TO GRAYSTONE BANK, a Division of CUMBERLAND COUNTY, Graystone Tower Bank PENNSYLVANIA Plaintiff CIVIL ACTION — LAW V. CONFESSION OF JUDGME T /I BEYOND DREAMS REAL ESTATE • INVESTMENT, LLC, No. 3 , V Defendant CONFESSION OF JUDGMENT Pursuant to the authority contained in the Warrant of Attorney, a true and correct copy of which is attached to the Complaint filed in this action, I appear for the Defendant and confess judgment in favor of the Plaintiff and against the Defendant, as follows: Principal Balance $48,766.82 Interest to and including 11/29/13 1,152.14 Late Fees 500.00 Satisfaction Fee 52.00 Attorneys' Fees for Confession 4,876.68 Total $55,347.64 Interest continues to accrue at the per diem rate of $10.77 from November 29, 2013, continuing late fees, and costs of collection. BARLEY SNYDER By. William F. Colby, Jr., Esquire J/ Keith Mooney, Esquire L O Attorney for Plaintiff 0.y 37359210 p( -! 7 ✓ ✓� o � LL Po� ��� Cg, ( °f Cr JOTHON TAR 20 DEC 18 An 11; 0 3 CUMBERLAND COUNTY PENNSYLVANIA BARLEY SNYDER William F. Colby, Jr., Esquire Keith Mooney, Esquire Court I.D. No. 46880; 74001 50 North Fifth Street, P.O. Box 942 Reading, PA 19603 -0942 (610) 376 -6651 Attorney for Plaintiff SUSQUEHANNA BANK SUCCESSOR COURT OF COMMON PLEAS OF TO GRAYSTONE BANK, a Division of CUMBERLAND COUNTY, Graystone Tower Bank PENNSYLVANIA Plaintiff CIVIL ACTION — LAW V. CONFESSION OF JUDGMENT BEYOND DREAMS REAL ESTATE 1 � . 6 . l� INVESTMENT, LLC, No. Defendant COMPLAINT CONFESSION OF JUDGMENT 1. The Plaintiff, Susquehanna Bank, is a banking corporation maintaining an address of 307 International Circle, Suite 600, Hunt Valley, MD 21030 -1376. 2. Beyond Dreams Real Estate Investment, LLC (the "Defendant ") is a Pennsylvania limited liability company with a registered address of 960 Alexander Spring Road, Carlisle, PA 17013, and a last known address of 47 Sherwood Circle, Enola, PA 17025. 3. On October 14, 2009, for value received, in connection with a commercial, and not a consumer, transaction, Defendant executed to the order of, and delivered to Plaintiff a certain Promissory Note (the "Note ") pursuant to which the Defendant promised to pay to Plaintiff the principal amount of Fifty -three Thousand Six Hundred Dollars ($53,600.00), plus 4139503 -1 interest and late fees thereon as therein provided. A true and correct copy of the Note is attached hereto, made a part hereof, and marked as Exhibit "A." A true and correct copy of the Disclosure for Confession of Judgment is attached hereto, made a part hereof, and marked as Exhibit `B ". 4. The Note has not been assigned and the Plaintiff is the owner of the Note. 5. This Court has subject matter jurisdiction over all causes of action under the Note. 6. The Defendant is in default under the Note because the Defendant has failed, refused, and continues to fail and refuse to pay the monthly payments to Plaintiff under and pursuant to the Note. 7. The Plaintiff made demand upon Defendant for payment under and pursuant to the terms and conditions of the Note, which the Defendant has failed and refused to pay. A true and correct copy of the demand is attached hereto, made a part hereof, and marked as Exhibit « 8. Judgment is not being entered by confession against a natural person in connection with a consumer credit transaction. 9. Judgment has not been entered on the warrant of attorney contained in the Note in any jurisdiction. 10. An itemization of the amount due and owing to the Plaintiff by the Defendant under the Note, as of November 29, 2013, is as follows: Principal Balance $48,766.82 Interest to and including 11/29/13 1,152.14 Late Fees 500.00 Satisfaction Fee 52.00 Attorneys' Fees for Confession 4,876.68 Total $55,347.64 4139503 -1 Interest continues to accrue at the per diem rate of $10.77 from November 29, 2013, continuing late fees, and costs of collection. 11. The warrant of attorney contained in the Note provides for the confession of judgment against the Defendant for the entire principal balance owed under the Note, all accrued interest, late charges, together with costs of suit and an attorney's commission of ten percent (10 %) of the unpaid principal balance and accrued interest. WHEREFORE, Susquehanna Bank, Plaintiff, prays your Honorable Court to grant judgment in favor of the Plaintiff and against the Defendant in the sum of Fifty -five Thousand Three Hundred Forty -seven Dollars and Sixty -four Cents ($55,347.64), plus interest at the per diem rate of $10.77, from November 29, 2013, and costs of collection. BARLEY SNYDER By. William F. Colby, Jr., Esquire Keith Mooney, Esquire Attorneys for Plaintiff 4139503 -1 EXHIBIT "A" PROMISSORY NOTE Borrower: Beyond Dreams Real Estate Investment LLC Lender: GRAYSTONE BANK, a Division of Graystone Tower 47 Sherwood Circle Bank Enola, PA 17025 Linglestown Branch 4045 Linglestown Road Harrisburg, PA 17112 Principal Amount: $53,600.00 Date of Note: October 14, 2009 PROMISE TO PAY. Beyond Dreams Real Estate Investment LLC ( "Borrower ") promises to pay to GRAYSTONE BANK, a Division of Graystone Tower Bank ( "Lender "), or order, in lawful money of the United States of America, the principal amount of Fifty -three Thousand Six Hundred & 00/100 Dollars ($53,600.00), together with interest on the unpaid principal balance from October 14, 2009, until paid in full. PAYMENT. Subject to any payment changes resulting from changes in the Index, Borrower will pay this loan in accordance with the following payment schedule: Principal and interest are due and payable in 60 equal consecutive monthly installments of $450.33 each, commencing on November 14, 2009 and ending October 14, 2014 (payment based on a 240 -month amortization). From the date hereof until October 14, 2014 ( "Initial Fixed Rate Period ") interest shall be fixed at 7.95 %. Thereafter, the interest rate shall be re- negotiated to a new fixed rate offered by Lender in its sole discretion (and agreed to by Borrower), or the rate shall revert to Graystone Tower Bank's Prime Rate (as defined in Variable Interest Rate below) plus 1.50% (with a 5.00% floor). After the Initial Fixed Rate Period and based on the subsequent change in interest rate, the monthly payment shall be changed to an amount sufficient to amortize the unpaid principal balance over the remaining amortization period of 180 months. Such payments shall begin November 14, 2014 and will continue until maturity. All unpaid principal together with any unpaid interest and late charges shall be due and payable at maturity, October 14, 2019. Unless otherwise agreed or required by applicable law, payments will be applied first to any accrued unpaid interest; then to principal; then to any late charges; and then to any unpaid collection costs. Borrower will pay Lender at Lender's address shown above or at such other place as Lender may designate in writing. 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 Lender's Prime Rate (the "Inde)e"). This is the rate Lender charges, or would charge, on 90 -day unsecured loans to the most creditworthy corporate customers. This rate may or may not be the lowest rate available from Lender at any given time. Lender will tell Borrower the current Index rate upon Borrower's request. The interest rate change will not occur more often than each day. Borrower understands that Lender may make loans based on other rates as well. Interest on the unpaid principal balance of this Note will be calculated as described in the "INTEREST CALCULATION METHOD" paragraph using a rate of 1.500 percentage points over the Index. NOTICE: Under no circumstances will the interest rate on this Note be less than 5.000% per annum or more than the maximum rate allowed by applicable law. Whenever increases occur in the interest rate, Lender, at its option, may do one or more of the following: (A) increase Borrower's payments to ensure Borrower's loan will pay off by its original final maturity date, (B) increase Borrower's payments to cover accruing interest, (C) increase the number of Borrower's payments, and (D) continue Borrower's payments at the same amount and increase Borrower's final payment. INTEREST CALCULATION METHOD. Interest on this Note is computed on a 365/360 basis; that is, by applying the ratio of the interest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by the actual number of days the principal balance is outstanding. All interest payable under this Note is computed using this method. PREPAYMENT PENALTY. Upon prepayment of this Note, Lender is entitled to the following prepayment penalty: A prepayment fee will be charged if the Note is prepaid, in whole or in part, during the fixed rate period. The fee will be calculated at two percent (2 %) of the principal amount prepaid. A prepayment fee will not be charged on any amount (up to 10% of the current principal amount) prepaid within any loan year from internally generated funds. The term "loan year" is defined as any period of one year commencing on the closing date or any anniversary date thereafter. Except for the foregoing, Borrower may pay all or a portion of the amount owed earlier than it is due. Early payments will not, unless agreed to by Lender in writing, relieve Borrower of Borrower's obligation to continue to make payments under the payment schedule. Rather, early payments will reduce 'the principal balance due and may result in Borrower's making fewer payments. Borrower agrees not to send Lender payments marked "paid in full ", "without recourse ", or similar language. If Borrower sends such a payment, Lender may accept it without losing any of Lender's rights under this Note, and Borrower will remain obligated to pay any further amount owed to Lender. All written communications concerning disputed amounts, including any check or other payment instrument that indicates that the payment constitutes "payment in full" of the amount owed or that is tendered with other conditions or limitations or as full satisfaction of a disputed amount must be mailed or delivered to: GRAYSTONE TOWER BANK, 112 Market Street Harrisburg, PA 17101. LATE CHARGE. If a payment is 15 days or more late, Borrower will be charged 10.000% of the regularly scheduled payment or $250.00, whichever is greater. INTEREST AFTER DEFAULT. Upon default, including failure to pay upon final maturity, the interest rate on this Note shall be increased by adding a 2.000 percentage point margin ( "Default Rate Margin "). The Default Rate Margin shall also apply to each succeeding interest rate change that would have applied had there been no default. If judgment is entered in connection with this Note, interest will continue to accrue after the date of judgment at the rate in effect at the time judgment is entered. However, in no event will the interest rate exceed the maximum interest rate limitations under applicable law. DEFAULT. Each of the following shall constitute an event of default ( "Event of Default ") under this Note: Payment Default. Borrower fails to make any payment when due under this Note. Other Defaults. Borrower fails to comply with or to perform any other term, obligation, covenant or condition contained in this Note or in any of the related documents or to comply with or to perform any term, obligation, covenant or condition contained in any other agreement between Lender and Borrower. False Statements. Any warranty, representation or statement made or furnished to Lender by Borrower or on Borrower's behalf under this Note or the related documents is false or misleading in any material respect, either now or at the time made or furnished or becomes false or misleading at any time thereafter. Death or Insolvency. The dissolution of Borrower (regardless of whether election to continue is made), any member withdraws from Borrower, or any other termination of Borrower's existence as a going business or the death of any member, the insolvency of Borrower, the appointment of a receiver for any part of Borrower's property, any assignment for the benefit of creditors, any type of creditor workout, or the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrower. Creditor or Forfeiture Proceedings. Commencement of foreclosure or forfeiture proceedings, whether by judicial proceeding, self -help, repossession or any other method, by any creditor of Borrower or by any governmental agency against any collateral securing the loan. This includes a garnishment of any of Borrower's accounts, including deposit accounts, with Lender. However, this Event of Default shall PROMISSORY NOTE Loam Flo: 4 (Continued) Page 2 not apply if there is a good faith dispute by Borrower as to the validity or reasonableness of the claim which is the basis of the creditor or forfeiture proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding and deposits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount determined by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute. Events Affecting Guarantor. Any of the preceding events occurs with respect to any Guarantor cf any of the indebtedness or any Guarantor dies or becomes incompetent, or revokes or disputes the validity of, or liability under, any guaranty of the indebtedness evidenced by this Note. Adverse Change. A material adverse change occurs in Borrower's financial condition, or Lender believes the prospect of payment or performance of this Note is impaired. Cure Provisions. If any default, other than a default in payment is curable and if Borrower has not been given a notice of a breach of the same provision of this Note within the preceding twelve (12) months, it may be cured if Borrower, after Lender sends written notice to Borrower demanding cure of such default: (1) cures the default within fifteen (15) days; or (2) if the cure requires more than fifteen (15) days, immediately initiates steps which Lender deems in Lenders sole discretion to be sufficient to cure the default and thereafter continues and completes all reasonable and necessary steps sufficient to produce compliance as soon as reasonably practical. LENDER'S RIGHTS. Upon default, Lender may, after giving such notices as required by applicable law, declare the entire unpaid principal balance under this Note and all accrued unpaid interest immediately due, and then Borrower will pay that amount. ATTORNEYS' FEES; EXPENSES. Lender may hire or pay someone else to help collect this Note if Borrower does not pay. Borrower will pay Lender that amount. This includes, subject to any limits under applicable law, Lenders reasonable attorneys' fees and Lender's legal expenses, whether or not there is a lawsuit, including reasonable attorneys' fees, expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic stay or injunction), and appeals. If not prohibited by applicable law, Borrower also will pay any court costs, in addition to all other sums provided by law. JURY WAIVER. Lender and Borrower hereby waive the right to any jury trial in any action, proceeding, or counterclaim brought by either Lender or Borrower against the other. GOVERNING LAW. This Note will be governed by federal law applicable to Lender and, to the extent not preempted by federal law, the laws of the Commonwealth of Pennsylvania without regard to its conflicts of law provisions. This Note has been accepted by Lender in the Commonwealth of Pennsylvania. CHOICE OF VENUE. If there is a lawsuit, Borrower agrees upon Lender's request to submit to the jurisdiction of the courts of Dauphin County, Commonwealth of Pennsylvania. RIGHT OF SETOFF. To the extent permitted by applicable law, Lender reserves a right of setoff in all Borrower's accounts with Lender (whether checking, savings, or some other account). This includes all accounts Borrower holds jointly with someone else and all accounts Borrower may open in the future. However, this does not include any IRA or Keogh accounts, or any trust accounts for which setoff would be prohibited by law. Borrower authorizes Lender, to the extent permitted by applicable law, to charge or setoff all sums owing on the indebtedness against any and all such accounts. SECURITY. All collateral (as herein defined) is security for this Note and any renewals, extensions and modifications thereof, and the payment, performance and discharge of all other present or future indebtedness, obligations and undertakings (whether individual, joint, several, direct, contingent or otherwise) of the Borrower to or for the benefit of Lender, whether arising directly to Lender under this Note or under any other agreement, promissory note or undertakings now existing or hereinafter entered into by the Borrower to the Lender. The term "Collateral" includes all tangible and intangible property (i) described in any mortgage, pledge, assignment or other security document separately executed in favor of Lender, and (ii) in which a security interest has been granted to Lender pursuant to this Note. CROSS COLLATERALIZE /CROSS DEFAULT. This loan will be cross - collateralized /cross - defaulted with all other loans from Borrower, or any of Borrowers related entities, to Lender. If at any time there is a default under this loan, all loans will be donsidered in default and all outstanding amounts under the loans will be immediately due and payable in full. A default in one loan shall constitute a default in ail others. SUCCESSOR INTERESTS. The terms of this Note shall be binding upon Borrower, and upon Borrower's heirs, personal representatives, successors and assigns, and shall inure to the benefit of Lender and its successors and assigns. GENERAL PROVISIONS. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note. Lender may delay or forgo enforcing any of its rights or remedies under this Note without losing them. Borrower and any other person who signs, guarantees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and notice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in writing, no parry who signs this Note, whether as maker, guarantor, accommodation maker or endorser, shall be released from liability. All such parties agree that Lender may renew or extend (repeatedly and for any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize upon or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Lender without the consent of or notice to anyone. All such parties also agree that Lender may modify this loan without the consent of or notice to anyone other than the party with whom the modification is made. The obligations under this Note are joint and several. If any portion of this Note is for any reason determined to be unenforceable, it will not affect the enforceability of any other provisions of this Note. CONFESSION OF JUDGMENT. BORROWER 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 BORROWER AFTER A DEFAULT UNDER THIS NOTE AND WITH OR WITHOUT COMPLAINT FILEC, CONFESS OR ENTER JUDGMENT AGAINST BORROWER FOR THE ENTIRE PRINCIPAL BALANCE OF THIS NOTE AND ALL ACCRUED INTEREST, LATE CHARGES AND ANY AND ALL AMOUNTS EXPENDED OR ADVANCED BY LENDER RELATING TO ANY COLLATERAL SECURING THIS NOTE, 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 NOTE OR A COPY OF THIS NOTE VERIFIED BY AFFIDAVIT SHALL BE SUFFICIENT WARRANT. THE AUTHORITY GRANTED IN THIS NOTE TO CONFESS JUDGMENT AGAINST BORROWER 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 NOTE. BORROWER HEREBY WAIVES ANY RIGHT BORROWER MAY HAVE TO NOTICE OR TO A HEARING IN CONNECTION WITH ANY SUCH CONFESSION OF JUDGMENT AND STATES THAT EITHER A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THIS CONFESSION OF JUDGMENT PROVISION TO BORROWER'S ATTENTION OR BORROWER HAS BEEN REPRESENTED BY INDEPENDENT LEGAL COUNSEL. PROMISSORY NOTE Loan No: 4000007800 (Continued) Page 3 y PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INCLUDING THE VARIABLE -- INTEREST RATE PROVISIONS. BORROWER AGREES TO THE TERMS OF THE NOTE. BORROWER ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THIS PROMISSORY NOTE. THIS NOTE IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS NOTE IS AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. BORROWER: i BEYO DREA REAL ST JT� IN ST ENT LLC i By: (Seal) Kristin Panagakis, Member of Beyond Dreams Real Estate Investment LLC LENDER: G , aAYSTONE BANK, A DIVISION GRAYSTONE TOWER BANK x Melissa McCoy, Market Manager LAGER PRO Lentling, er. 5.16.00.00 Dopy. Netlentl Fi—dal Golu. Inc 1 867, 20M. M RigMS Resents. - PA PACHILPL\D201G TR -3567 PR -3 EXHIBIT `B" DISCLOL.,.RE FOR CONFESSION OF JL.,GMENT Declarant Beyond Dreams Real Estate Investment LLC Lender: GRAYSTONE BANK, a Division of Graystone Tower 47 Sherwood Circle Bank Enola, PA 17025 Linglestown Branch 4045 Linglestown Road Harrisburg, PA 17112 DISCLOSURE FOR CONFESSION OF JUDGMENT THE UNDERSIGNED IS EXECUTING ON BEHALF OF DECLARANT, THIS DAY O 20 A PROMISSORY NOTE FOR $53,600.00 OBLIGATING DECLARANT TO REPAY THAT AMOUNT. A. THE UNDERSIGNED UNDERSTANDS THAT THE NOTE CONTAINS A CONFESSION OF JUDGMENT PROVISION THAT WOULD PERMIT LENDER TO ENTER JUDGMENT AGAINST DECLARANT IN COURT, AFTER A DEFAULT ON THE NOTE, WITHOUT ADVANCE NOTICE TO DECLARANT AND WITHOUT OFFERING DECLARANT AN OPPORTUNITY TO DEFEND AGAINST THE ENTRY OF JUDGMENT. IN EXECUTING THE NOTE, BEING FULLY AWARE OF DECLARANT'S RIGHTS TO ADVANCE NOTICE AND TO A HEARING TO CONTEST THE VALIDITY OF ANY JUDGMENT OR OTHER CLAIMS THAT LENDER MAY ASSERT AGAINST DECLARANT UNDER THE NOTE, THE UNDERSIGNED, ON BEHALF OF THE DECLARANT, IS KNOWINGLY, INTELLIGENTLY, AND VOLUNTARILY WAIVING THESE RIGHTS, INCLUDING ANY RIGHT TO ADVANCE NOTICE OF THE ENTRY OF JUDGMENT, AND THE UNDERSIGNED EXPRESSLY AGREES AND CONSENTS TO LENDER'S ENTERING JUDGMENT AGAINST DECLARANT BY CONFESSION AS'PROVIDED FOR IN THE CONFESSION OF JUDGMENT PROVISION. B. THE UNDERSIGNED FURTHER UNDERSTANDS THAT IN ADDITION TO GIVING LENDER THE RIGHT TO ENTER JUDGMENT AGAINST DECLARANT WITHOUT ADVANCE NOTICE OR A HEARING, THE CONFESSION OF JUDGMENT PROVISION IN THE NOTE ALSO CONTAINS LANGUAGE THAT WOULD PERMIT LENDER, AFTER ENTRY OF JUDGMENT, AGAIN WITHOUT EITHER ADVANCE NOTICE OR A HEARING, TO EXECUTE ON THE JUDGMENT BY FORECLOSING UPON, ATTACHING, LEVYING ON, TAKING POSSESSION OF OR OTHERWISE SEIZING DECLARANT'S PROPERTY, IN FULL OR PARTIAL PAYMENT OF THE JUDGMENT. IN EXECUTING THE NOTE, BEING FULLY AWARE OF DECLARANT'S RIGHTS TO ADVANCE NOTICE AND A HEARING AFTER JUDGMENT IS ENTERED AND BEFORE EXECUTION ON THE JUDGMENT, THE UNDERSIGNED, ON BEHALF OF THE DECLARANT, IS KNOWINGLY, INTELLIGENTLY AND VOLUNTARILY WAIVING THESE RIGHTS, AND THE UNDERSIGNED EXPRESSLY AGREES AND CONSENTS TO LENDER'S IMMEDIATELY EXECUTING ON THE JUDGMENT IN ANY MANNER PERMITTED BY APPLICABLE STATE AND FEDERAL LAW, WITHOUT GIVING DECLARANT ANY ADVANCE NOTICE. C. AFTER HAVING READ AND DETERMINED WHICH OF THE FOLLOWING STATEMENTS ARE APPLICABLE, BY INITIALING EACH STATEMENT THAT APPLIES, THE UNDERSIGNED REPRESENTS THAT: INITIALS 1. DECLARANT WAS REPRESENTED BY DECLARANT'S OWN INDEPENDENT LEGAL COUNSEL IN CONNECTION WITH THE � A NOTE. "1 2. A REPRESENTATIVE OF LENDER SPECIFICALLY CALLED THE CONFESSION OF JUDGMENT PROVISION IN THE NOTE TO DECLARANTS ATTENTION. THIS DISCLOSURE IS GIVEN UNDER SEAL AND IT IS INTENDED THAT THIS DISCLOSURE 1S AND SHALL CONSTITUTE AND HAVE THE EFFECT OF A SEALED INSTRUMENT ACCORDING TO LAW. DECLARANT: BEYOND DREA )RE E AT INVE NT LLC (Seal) Y Kri tin agakis, Member of Beyond D ams Real Estate Investment LLC LASER PRO Lending. V- 5.46.00.003 CM. Redand Fi-ndal SW.0 —, Inc. 1997, 2009. All Righh R.—d. - PA PAUMPL1030.FC FR-3561 PR-3 EXHIBIT "C" Susquehanna ",0 Susquehanna Bank 1626 Good Hope Road Enola, PA 17025 YOUR IMMEDIATE ATTENTION IS REQUIRED October 25, 2013 BEYOND DREAMS REAL ESTATE KONSTANTINOS PANAGAKIS 47 SHERWOOD CIRCLE ENOLA, PA 17025 Dear Ms. Panagakis: RE: Loan number 4000007800 in the original principal amount of $53,600.00, secured by Mortgage and rents: 265 Pepper Street, Harrisburg, Dauphin County, PA Pursuant to the terms and provisions of a Promissory Note, and various related documents dated October 14, 2008 in the amount of $53,600.00.00, (collectively, the `Loan Documentsj between Beyond Dreams Real Estate and Konstantinos Panagakis as guarantors) and Susquehanna Bank as lender, this letter is to advise you that: 1) You are in default under the Loan Documents for failure to make payments when and as due under the terms thereof on September 14, 2013 and October 14, 2013. 2) As of October 25, 2013, the amount past due under the Loan Documents is $1,150.66. The Lender hereby demands that you pay the amounts set forth by certified check, cashier's check or wire transfer and should be directed to my attention at the above address. 3) Only the amount to cure the default in full will be accepted. Partial Payments in response to this letter will be soplied, but will not cure the default. 4) Neither the contents of this letter nor the acceptance of late and partial payments shall constitute a waiver of the Bank's rights, remedies and recourse under the Loan Documents. 5) Failure to cure the loan default, no later than 2 PM EST, November 11, 2013, may result in the Bank declaring all amounts owed, immediately due and payable. All amounts owed will include principal, interest, late charges, and costs incurred by the Bank in connection with collection and enforcement activities. A precise payoff figure will be provided to you upon request. 6) If you fail to pay the loan as requested, the bank will be entitled to exercise any and all of the rights and remedies under the Loan Documents, including without limitation to increase the Interest rate, commence legal action which may include a judgment by confession, take possession of personal property, and Institute foreclosure proceedings. If legal and/or other enforcement action is initiated, you will be responsible for all costs and expenses, Including attorneys' fees incurred. If you have any questions regarding the loan, please contact me at 717 - 724 -2819. Sincerely, {�C.h /G-- J el Cooper Retail Executive Jewel.Cooper@susquehanna.net LM /cdt cc: Kristin Panagakis SENT VIA I 3 CLASS MAIL AND CERTIFIED MAIL RETURN RECEIPT REQUESTED Susquehanna Susquehanna Bancshares, Inc. 91 7199 9991 7 0 3 0 6645 2 6 7 6 307 International Circle Suite 600 VIA 1 sT CLASS MAIL AND CERTIFIED MAIL RETURN RECEIPT REQUESTED Hunt Valley, MD 21030-1376 November 19, 2013 Beyond Dreams Real Estate Investment LLC K.omtantinos Panagakis Kristin Panagakis 47 Sherwood Circle Enola,_PA 17025 RE: Loan number 4000007800 in the original principal amount of $53,600.00, secured by 265 Peffer Street, Harrisburg PA 17102. Pursuant to the terms and provisions of a Promissory Note, a Business Loan Agreement and various related documents dated October 14, 2009 in the amount of $53,600.00, (collectively, the "Loan Documents ") between Beyond Dreams Real Estate Investment LLC, Konstantinos Panagakis and Kristin Panagakis as guarantor(s) and Susquehanna Bank (successors by merger of Graystone Bank) as lender, this letter is to advise you that: 1) You are in default under the Loan Documents for failure to make payments when and as due under dw terms thereof on September 14, 2013, October 14, 2013 and November 14, 2013. Consequently, the Lender has exercised our rights to declare all amounts outstanding under the Loan Documents to be immediately due and payable. 2) As of November 19, 2013, the balance outstanding under the Loan Documents is $50,363.27 and will accrue interest daily in the amount of everyday thereafter. The Lender hereby demands that you pay the amounts set forth by certified check, cashier's check or wire transfer and should be directed to Susquehanna Bank, 307 International Circle, Suite 600, Hunt Valley, MD 21030, Attn: Diana Wigginton. 3) Only the amount to cure the deiiiit in full will be accepted. NO PARTIAL PAYMENT WILL BE ACCEPTED!! 4) You will be liable for any and'all costs of collection in accordance with the Loan Documents. In addition, sale of the collateral will take place. 5) Neither the contents of this letter nor the acceptance of late and partial payments shall constitute a waiver of the Bank's rights, remedies and recourse under the Loan Documents. Susquehanna Bank (successors by merger of Graystone Bank) specifically reserves all rights, remedies and recourse under the Loan Documents, applicable law and otherwise. Sincerely, Diana Wigginton OREO /Workout 410- 316 -0272 VERIFICATION I, DENISE AHERNE- VENZKE, being duly affirmed according to law, depose and say that I am Vice President for Susquehanna Bank; that I am authorized to make this Verification on its behalf and that the facts set forth in the foregoing Complaint are true and correct to the best of my knowledge, information, and belief. To the extent that any of the averments in the foregoing document are based upon the understanding or application of law, I have relied upon counsel in making this Verification. This Verification is made subject to the penalties of 18 Pa. C.S.A. §4904, relating to unsworn falsification to authorities. Date: 1,X1 �u ' r � , � / Denise Aherne - Venzke 4139503 -1 !3F THE PROTH- 10TAR"i" 28 3 DEC 18 AM I* D 3 CUMBERLAND COUNTY PENNSYLVANIA, BARLEY SNYDER William F. Colby, Jr., Esquire Keith Mooney, Esquire Court I.D. No. 46880; 74001 50 North Fifth Street, P.O. Box 942 Reading, PA 19603 -0942 (610) 376 -6651 Attorney for Plaintiff SUSQUEHANNA BANK SUCCESSOR COURT OF COMMON PLEAS OF TO GRAYSTONE BANK, a Division of CUMBERLAND COUNTY, Graystone Tower Bank PENNSYLVANIA Plaintiff CIVIL ACTION — LAW V. CONFESSION OF JUDGMENT BEYOND DREAMS REAL ESTATE INVESTMENT, LLC, No. Defendant CERTIFICATE OF RESIDENCE PA. R.C.P. 236 1, Keith Mooney, Esquire, Attorney for the Plaintiff, hereby certify to the best of my knowledge, information and belief that the name and current address of each party is as follows: The address of the Plaintiff, Susquehanna Bank, is 307 International Circle, Suite 600, Hunt Valley, MD 21030 -1376. The registered address for the Defendant, Beyond Dreams Real Estate Investment, LLC, is 960 Alexander Spring Road, Carlisle, PA 17013, and a last known address of 47 Sherwood circle, Enola, PA 17025. Respectfully submitted, BARLEY SNYDER By: / William F: olby, Jr. Esquire Keith Mooney, Esquire Attorney for Plaintiff 4139503 -1 SUSQUEHANNA BANK SUCCESSOR COURT OF COMMON PLEAS OF TO GRAYSTONE BANK, a Division of CUMBERLAND COUNTY, Graystone Tower Bank PENNSYLVANIA Plaintiff CIVIL ACTION — LAW V. CONFESSION OF JUDG EN BEYOND DREAMS REAL I q _ ESTATE INVESTMENT, LLC, No. % v g � Defendant (X) Notice is hereby given that a judgment in the above - captioned matter has been entered against you in the amount of $55,347.64, on December 1 .9, 2013. (X) A copy of all documents filed with the Prothonotary in saRport of the won judgment are m , enclosed.' Prothonotary Civil Division By: If you have any questions regarding this Notice, please contact the filing party: NAME: William F. Colby, Jr. Esquire Keith Mooney, Esquire Barley Snyder ADDRESS.: 50 North Fifth Street P.O. Box 942 Reading, PA 19603 TELEPHONE:(610) 376 -6651 (This Notice is given in accordance with Pa.R.C.P.236.) NOTICE SENT TO: NAME: Beyond Dreams Real Beyond Dreams Real Estate Investment, LLC Estate Investment, LLC 960 Alexander Spring Road 47 Sherwood Circle Carlisle, PA 17013 Enola, PA 17025 4139503 -1 E PROTHON OTARY 2-0 1 " 3 DEC 18 An 11. D4 CUMBERLAND COUNTY PENNSYLVANIA BARLEY SNYDER William F. Colby, Jr., Esquire Keith Mooney, Esquire Court I.D. No. 46880; 74001 50 North Fifth Street, P.O. Box 942 Reading, PA 19603 -0942 (610) 376 -6651 Attorney for Plaintiff SUSQUEHANNA BANK SUCCESSOR COURT OF COMMON PLEAS OF TO GRAYSTONE BANK, a Division of CUMBERLAND COUNTY, Graystone Tower Bank PENNSYLVANIA Plaintiff CIVIL ACTION — LAW V. CONFESSION OF JUDGMENT, BEYOND DREAMS REAL ESTATE INVESTMENT, LLC, No. Defendant ENTRY OF APPEARANCE Kindly enter the appearance of William F. Colby, Jr., Esquire, Keith Mooney, Esquire, Barley Snyder on behalf of Plaintiff, Susquehanna Bank, in the above - captioned matter. Serve all papers at 50 North Fifth Street, 2nd Fl., P.O. Box 942, Reading, PA 19603 -0942. Respectfully submitted, BARLEY SNYDER By Wil iam F. Colby, Jr., Esquire Keith Mooney, Esquire Attorney for Plaintiff 4139503 -1