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Home My WebLink About05-2677 $45,000.00 NOTE May 20, 2005 (OS~- ;< (p 77 c..:;J.J~ 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, ("Holder") of Carlisle, Cumberland County, Pennsylvania their heirs, successors and assigns, Forty-five Thousand Dollars ($45,000.00), without interest, by paying Forty-five Thousand Dollars ($45,000.00) upon the sale and settlement, or rental of the residence to be built on Lot 5 Martin Road, Monroe 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 of the principal amount of this Note at any time or from time to time without premium or penalty. IN ADDITION, IN THE EVENT OF THE DEF AUL T IN THE PAYMENT DUE HEREUNDER, BORROWER DOES HEREBY AUTHORIZE AND EMPOWER THE PROTHONOTARY OR ANY ATTORNEY OF ANY COURT OF RECORD OF PENNSYLVANIA 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 ESTATE THAT MAY BE LEVIED UPON TO COLLECT THE AFORESAID SUM, AND BORROWER VOLUNTARILY CONDEMNS SAME, AND AUTHORIZE THE PROTHONOTARY TO ENTER SAID VOLUNTARY 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 ST ATE 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 VOLUNTARILY 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~~Essil ~~_~=OMHO S, INe. - EXPl.ANATION AND WAIVER OF RIGHTS REGARDING CONFESSION OF JUDGMENT 1. On the date hereof, Vanek Custom Homes, Inc. a Pennsylvania Corporation(the "Obligo~) is signing and delivering to (the "Lende~) - Commercial Loan Note in the pnncipal sum of Forty-ffive Thousand Dollars ($45.000.00); - Suretyship Agreemenl for the Obligations of - Olher (as the same may be renewed, modified, amended, extended, restated or replaced, whether one or more, the 'Obligation'). The Obligor has been advised by !he Lender (and by the Obligors legal counsel, ff 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 ~earty and specifically understands that by signing the Obligation which contains such confession of judgment clause: (a) The Obligor is authOlizing the Lender to enter a judgment against the Obligor and in favor of the Lender, which will give the Lender a lien upon any reai estate which the Obligor may own in any county where the judgment is entered; Ib) The Obligor is giving up an important right to any notice or opportunity for a healing before the entl)l of \his judgment on !he records of the Court; Ic) The Obligor is agreeing that !he Lender may enter this judgment and unde<Stands !hat the Obligor will be unable to contest !he validity of the judgment, should the Lender enter it, unless \he Obligor successfully challenges enlty of the judgment on procedural grounds !hrough a petffion to open or stnke the judgment. which will require the Obligor to retain counsel at !he Obligors expense; (d) The Obligor is giving up an Important nght to any notice or opportunity for a hearing before the Lender may request and use the power of !he state govemment to depnve the Obligor of its property pursuant to the judgment by seizing or having the Sheriff or other offic;al seize the Obligors bank accounts, Inventol)l, equipment, fumishings, or any o!her personal property that the Obligor may own, to satisfy !he Obligation; (e) The Obligor may be immediately depnved of the use of any property that is seized by the Lender pursuant to the judgment without notice or a heanng, and the procedural rules of Pennsylvania's court system do not guarantee that the Obligor will receive a prompt heanng after !he Obligors property is seized: and (D If the Obligation is the Lenders pnnted form of Commercial Loan Note, or Suretyship Agreement, \he Obligor Is agreeing !hat !he Lender may enter judgment whether or not there is a default under !he Obligatioo. 2. The Obligor knows and understand that" is !he confession of judgment clause in the Obilgation which gives the Lender the nghts described in subparagraphs (a) through (n of paragraph 1 above. 3. Fully and completely understanding the rights which are being given up ff the Obligor signs the Obligation containing the confession of judgment, the Obligor nevertheless freely, knowingly and voluntanly waives said rights and chooses to sign !he Obiigation. 4. The Obligor acknowledges that the proceedS of !he Obligation are to be used for business purposes. 5. If the Obligor is an individual, the Obligor certifies that hislher annual income exceeds $10,000.00. Dated this 2Q!; day of May, 2005.. THE OBLIGOR HAS READ THIS EXPLANATION AND WAIVER PRIOR TO SIGNING THE OBLIGATION AND FULLY UNDERSTANDS ITS CONTENTS. YANEK~HO By: . . tJ ~ r ~ ..t: ~ . e (? "' ~. f.r.. '~ :~ ~ <"\. ~ ~. ~ - " ii ';' ........ ~ ~~ ~ l.,.., ~ 0\ '<i ^~ f ~ ~ ~' lI\ Cl... . '- "- ~ "'b 1~ :f> ~ ~ \"., \ r-...., ~,~~; ~,-.) w, ~i'l ~,~? ~ -~" ,'; '; ;',' '--' --;':1 r.';) ", w SAlOIS SHUFF, FLOWER & LINDSAY AlTORNEYS.AT.LAW 26 W. High Street Carlisle. PA Raymond E, Diehl and Genevieve A. Diehl, Plaintiff v. Yanek Custom Homes, Inc. Defendant : In the Court of Common Pleas : Cumberland County, Pennsylvania : Civil Action - Law NO. 05-2677 Civil Term PRAECIPE FOR RELEASE OF JUDGMENT Please release Lot No. 153, Indian Hills, South Middleton Township, Cumberland County, Pennsylvania, from the above-referenced encumbrance. Date: Dthbu /4,~!OS- . (I eft! By: "- SeC. Hixenbaugh, Esqu' Saidis, Shuff, Flower & Lindsay Attorneys for Plaintiff 26 W. High Street Carlisle, PA 17013 " ~ ~ --.. ~ ~";) (;"" "1 \J\ () " --a >-- r--;, ~ c/\ -:::r:--- ~""-c) ~ ~ --k/ ......, C",";;I c;') c..~'l o C") -; C) ~n .-;-f ;0>......,.-, I-n;.:-': ;..::.""'! --' ,'-) l~' N :.:j(TI _.__1 :-.... r:- o :.:'< (7, SAllIS, FLOWER & LINDSAY ATlORNEYS'AT.L4.W 26 West High Street Carlisle, PA RAYMOND E. DIEHL AND GENEVIEVE A. DIEHL AND Plaintiff v. Y ANEK CUSTOM HOMES, INC., Defendant TO THE PROTHONOTARY: : IN THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, PA : DOCKET NO. 05-02677 PRAECIPE Please mark the above-captioned matter paid in full and satisfied. DATED:_ 31t& RESPECTFULL Y SUBMITTED, SA..IDIS, rID;;? & UNDSA Y ,/ /t:[/l R'n-bert C/ Saidis, Esq. Attorney ID # 26 West High Street Carlisle, PA 17013 717) 243-6222 Attorney for Plaintiff c