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Home My WebLink About05-0927 ~ cf)'- 9J7 Ct';;/ .. $50,000.00 February 16,2004 NOTE Yanek Custom Homes, Inc. ("Borrower"), of Boiling Springs, Cumberland County, Pennsylvania, hereby promises to pay to Raymond E. Diehl and Genevieve A. Diehl, husband and wife, and Donald E. Diehl and Suzanne Diehl, husband and wife, ("Holder") of Carlisle, Cumberland County, Pennsylvania their heirs, successors and assigns, Fifty Thousand Dollars ($50,000.00), without interest, by paying Fifty Thousand Dollars ($50,000.00) upon the sale and settlement, or rental of the residence to be built on Lot 69, Plan of Netherby, South Middleton Township, Cumberland County, Pennsylvania but in no event later than one (1) year from the date of this Note. In the event of default by Borrower, interest shall accrue and be payable at the rate of Wall Street Journal Prime plus three (3%) percent. Notice, demand, presentment, or protest is expressly waived by Borrower. Borrower shall have the right to prepay all or any part ofthe principal amount of this Note at any time or from time to time without premium or penalty. IN ADDITION, IN THE EVENT OF THE DEFAULT IN THE PAYMENT DUE HEREUNDER, BORROWER DOES HEREBY AUTHORIZE AND EMPOWER THE PROTHONOTARY OR ANY ATTORNEY OF ANY COURT OF RECORD OF PENNSYL VANIA OR ELSEWHERE TO APPEAR FOR AND ENTER JUDGMENT AGAINST BORROWER FOR THE ABOVE SUM, WITH OR WITHOUT DECLARATION, WITH COSTS OF SUIT, RELEASE OF ERRORS, WITHOUT STAY OF EXECUTION, AND WITH 15 PERCENT ADDED FOR COLLECTION FEES; AND BORROWER HEREBY AGREES NOT TO MAKE ANY MOTION OR ANY APPLICATION WHATSOEVER TO ANY COURT FOR AN INQUISITION ON ANY REAL EST ATE THAT MAY BE LEVIED UPON TO COLLECT THE AFORESAID SUM, AND BORROWER VOLUNTARILY CONDEMNS SAME, AND AUTHORIZE THE PROTHONOTARY TO ENTER SAID VOLUNT ARY CONDEMNATION UPON THE WRIT OF EXECUTION. BORROWER FURTHER AGREES THAT ANY PROPERTY, REAL PERSONAL OR MIXED MAY BE SOLD THROUGH A WRIT OF EXECUTION AND FURTHER HEREBY WAIVES AND RELEASES ALL RELIEF FROM ANY AND ALL APPRAISEMENTS, STAY OR EXEMPTION OF ANY STATE NOW IN FORCE OR WHICH ARE PASSED HEREAFTER. NO SINGLE EXERCISE OF THE FOREGOING POWER TO CONFESS JUDGMENT SHALL BE DEEMED TO EXHAUST THE POWER WHETHER OR NOT ANY SUCH EXERCISE SHALL BE HELD BY ANY COURT TO BE VALID, VOIDABLE, OR VOID, BUT HT EPOWER SHALL CONTINUE UNDIMINISHED AND IT MAY BE EXERCISED FROM TIME TO TIME AS OFTEN AS THE HOLDER HEREOF SHALL ELECT, UNTIL SUCH TIME AS THE HOLDER HEREOF SHALL HAVE RECEIVED PAYMENT IN FULL OF ALL AMOUNTS OWING HEREUNDER, TOGETHER WITH COSTS. '. . , WAIVER IN EXECUTING THIS NOTE, BORROWER UNDERSTANDS THE TRANSACTION, AND KNOWINGLY AND VOLUNT ARIL Y WAIVES THE RIGHT TO CONTEST THE ENTRY OF THIS JUDGMENT AGAINST BORROWER IN COURT AND DOES HEREBY CONSENT TO THE ENTRY OF THE JUDGMENT BY CONFESSION. BORROWER HEREBY CERTIFIES THAT HE HAS EARNINGS OF $10,000.00 OR MORE PER YEAR. Witness my hand and seal the day and year first above written. W[TNE~ Y ANEK CUSTOM HOMES, INC. "CY --;.""- ,-" ~'-By: St e . Yanek, President 8 Ridge Road Boiling Springs, PA 17007 Holder: ~ynond E. Diehl and Genevieve A. Diehl and D::>nald E. Diehl and SUzanne Diehl 4 East HIgh Street, SUite A Carlisle, PA 17013 ~ ~ " EXPLANATION AND WAIVER OF RIGHTS REGARDING CONFESSION OF JUDGMENT 1. On the date hereof, Yanek Custom Homes, Inc. a Pennsylvania Corporation(the "Obligor") is signing and delivering to (the "Lender") ~ Commercial Loan Note in the principal sum of Fifty Thousand Dollars ($50,000.00); ~ Suretyship Agreement for the Obligations of ~ other (as the same may be renewed, modified, amended, extended, restated or replaced, whether one or more, the "Obligation"). The Obligor has been advised by the Lender (and by the Obligor's legal counsel, if applicable) that the Obligation contains a clause that provides that the Lender may confess judgment against the Obligor. The Obligor has read the Obligation and clearly and specifically understands that by signing the Obligation which contains such confession of judgment clause: (a) The Obligor is authorizing the Lender to enter a judgment against the Obligor and in favor of the Lender, which will give the Lender a lien upon any real estate which the Obligor may own in any county where the judgment is entered; (b) The Obligor is giving up an important right to any notice or opportunity for a hearing before the entry of this judgment on the records of the Court; (c) The Obligor is agreeing that the Lender may enter this judgment and understands that the Obligor will be unable to contest the validity of the judgment, should the Lender enter it, unless the Obligor successfully challenges entry of the judgment on procedural grounds through a petition to open or strike the judgment, which will require the Obligor to retain counsel at the Obligor's expense; (d) The Obligor is giving up an important right to any notice or opportunity for a hearing before the Lender may request and use the power of the state government to deprive the Obligor of its property pursuant to the judgment by seizing or having the Sheriff or other official seize the Obligor's bank accounts, inventory, equipment, furnishings, or any other personal property that the Obligor may own, to satisfy the Obligation; (e) The Obligor may be immediately deprived of the use of any property that is seized by the Lender pursuant to the judgment without notice or a hearing, and the procedural rules of Pennsylvania's court system do not guarantee that the Obligor will receive a prompt hearing after the Obligor's property is seized; and (0 If the Obligation is the Lender's printed form of Commercial Loan Note, or Suretyship Agreement, the Obligor is agreeing that the Lender may enter judgment whether or not there is a default under the Obligation. 2. The Obligor knows and understand that it is the confession of judgment clause in the Obligation which gives the Lender the rights described in subparagraphs (a) through (0 of paragraph 1 above. 3. Fully and completely understanding the rights which are being given up if the Obligor signs the Obligation containing the confession of judgment, the Obligor nevertheless freely, knowingly and voluntarily waives said rights and chooses to sign the Obligation. 4. The Obligor acknowledges that the proceeds of the Obligation are to be used for business purposes. 5. If the Obligor is an individual, the Obligor certifies that his/her annual income exceeds $10,000.00. Dated this February 17, 2005. THE OBLIGOR HAS READ THIS EXPLANATION AND WAIVER PRIOR TO SIGNING THE OBLIGATION AND FULLY UNDERSTANDS ITS CONTENTS. YANEK CUSTOM HOMES, INC. Br-~-~ I ~ ~ F- ~ ~ s;:) - , ~- ~ -y:::::. ~ ~ o oL) .,.,.Q, ~ o ~ \...)') -c::.. ~ ~ I,j.) -~ 'B ,...-:::> ~ & ~ .., t-. () ...,..., ~ ...-, D ----- t' , -.1 .:..' I "...! ..----'\ ',_J r~-~l 0- C) -(j ~ ----------- SAlOIS SHUFF. FLOWER & UNDSAY ATJ'ORNEYS.AT-LAW 26 W. High Slreet Carlisle, P A 11 RAYMOND E. DIEHL AND GENEVIEVE A. DIEHL AND DONALD E. DIEHL AND SUZANNE DIEHL Plaintiff v. Y ANEK CUSTOM HOMES, INC., : Defendant TO THE PROTHONOTARY: : IN THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, PA : DOCKET NO. 05-00927 PRAECIPE Please mark the above-captioned matter paid in full and satisfied. DATED:~IUX6 SUBMITTED, obert . Saidis, sq. Attorney ID #21458 26 West High Street Carlisle, PA 17013 717) 243-6222 Attorney for Plaintiff o ~ s; (:;::> <J' ::;::: C._ en ON o -\.~ -> o "'1" ..... ::t:-n rn~ -r1\~, -{;l.:..... (".b - .~' -'" , ~, '~;~P\ :::4 Je=; ::< t;? f'V co