HomeMy WebLinkAbout87-0044NO,
Civil 19 ~i~
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Court of Common Pleas
Cumb. Co.
JUDGMENT NOTE
LAW O F'F'IC ES
1:3RABBS, (3ASHMAN AND FREY
14 CENTER SCIUARE
HANOVER, PENNSYLVANIA 17331
JUDGMENT NOTE
$95,000.00 ~¢~.L,~,~ , Pennsylvania
On the dates and in the manner hereinafter provided, we,
William W. Warren and Linda B. Warren, his wife, promise to pay
to the order of John I. Gilson the sum of Ninety-Five Thousand
($95,000.00) Dollars, together with interest thereon at the rate
of ten (10.00%) per cent per annum payable nine (9) years from
the date hereof; provided, however, that until the Obligee shall
demand payment in full of said principal sum, or the balance
thereof remaining unpaid, the Obligors will amortize or reduce
the amount of such principal by monthly payments on account
thereof of One Thousand Three Hundred Thirty-Seven and 48/100
($1,337.48) Dollars each, including interest, as aforesaid, on
the unpaid balance of such principal, the first such monthly
payment to be made on the first day of ~~k~'~ ....... ~ w-~ , 1987,
and on the first day of each and every ~onth the,~after until
such principal sum, together with interest, as a~oresaid, has
been paid in full, or until the Obligee shall have demanded
payment in full of the balance of the principal sum then
unpaid. Provided, always, that nothing herein contained shall
be taken or construed as a waiver of the right of the Obligee to
demand and enforce payment of the full principal sum then
unpaid, together with interest, as aforesaid, at any time after
the expiration of nine (9) years from the date hereof.
Provided, further, that:
1. Monthly payments of principal and interest, as
aforesaid, shall be made at 11 West Winding Hill Road,
Mechancisburg, Pennsylvania, or at such other location as may be
designated, from time to time, by Obligee.
2. Obligors shall have the right to prepay the outstanding
principal balance, in full or in part, at any time prior to
maturity, without charge or penalty for such prepayment;
provided, however, that in the event of partial prepayment,
there will be no change in the amount of the monthly payments
unless such change is agreed upon by Obligee, in writing.
3. If Obligee has not received the full amount of any
monthly payment by the end of fifteen (15) calendar days after
the date it is due, Obligors will pay a late charge in the
amount of three (3.00%) per cent of the overdue payment of
principal and interest, which late charge shall be paid
promptly. Such late charge shall apply only once on each late
payment.
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4. This Note shall be in default if Obligors do not pay
the full amount of each monthly payment within fifteen (15) days
of the date such payment is due. If Obligors are in default,
Obligee must send a written notice telling Obligors that if they
do not pay the overdue amount by a certain date, Obligee may
require them to pay immediately the full amount of principal
which has not been paid and all interest that is owed on that
amount. That date must be at least fifteen (15) days after the
date on which the notice is given to Obligors. If Obligee has
required Obligors to pay immediately in full as described above,
Obligee shall have the right to be reimbursed by Obligors for
all of their costs and expenses in enforcing the Note to the
extent not prohibited by applicable law, including, for example,
reasonable attorneys, fees. Even if, at the time when Obligors
are in default, Obligee does not require Obligors to pay
immediately in full as described above, Obligee will still have
the right to do so if Obligors are in default at a later time.
5. Any notice required by the terms of this Note shall be
given in writing, by depositing such notice in the United States
mails, certified, with certification and postage charge prepaid,
properly addressed and directed to the party to receive the same
as follows: (a) As to Obligors: 324 East Main Street,
Mechanicsburg, PA, 17055; (b) As to Obligee: 11 West Winding
Hill Road, Mechanicsburg, PA, 17055.
Without defalcation, value received.
And, further, we do hereby empower any Attorney of any
Court of Record within the United States, or elsewhere, to
appear for us and, after one or more declarations filed, confess
judgment against us as of any term for the above sum with costs
of suit and attorney's commission of fifteen (15%) per cent for
collection and release of all errors, and without stay of
execution and inquisition and extension upon any levy on real
estate is hereby waived and condemnation agreed to and the
exemption of personal property from levy and sale on any
execution hereon is also hereby expressly waived and no benefit
of exemption be claimed under and by virtue of any exemption law
now in force or which may be hereafter passed.
~IN WITNESS WHEREOF, this Note has
/~7 day of 1~~.~-- been executed this
" 1987.
~)~c~ o~ ~ ~t~%~%.~_ ~ ~~ (SEAL)
~inda B. Warren
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