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HomeMy WebLinkAbout06-2061o?, - ao(°I $100,000.00 NOTE November 3, 2004 Michael C. Diehl and Brook E. Diehl, husband and wife, Jonathan S. Diehl and Rene L. Diehl, husband and wife, and Fred Miller single person, (`Borrower"), of Carlisle, Cumberland County, Pennsylvania, hereby promises to pay to Genevieve A. Diehl, ("Holder") of 401 Myers Road, Boiling Springs, Cumberland County, Pennsylvania 17007 her heirs or assigns, One Hundred Thousand Dollars (5100,000.00) together with interest at Prime Plus Two Percent (2%) per annum on or before December 31, 2006. ON DECEMBER 31, 2006, THIS NOTE CAN BE RENEGOTIATED IF, AND ONLY IF, THE PARTIES CAN AGREE ON ADDITIONAL TERMS AND CONDITIONS. PAYMENTS. Borrower shall pay interest by making payments every month. Payments shall be made on the 1st day of each month beginning on December 3, 2004. Monthly payments will be applied to interest before principal. If on December 31, 2006, Borrower still owes amounts under this Note, Borrower will pay those amounts in full on that date which is called the Maturity Date. DEFAULT. If Borrower does not pay the full amount of each monthly payment on the date it is due, Borrower will be in default. If Borrower is in default, the Holder may require Borrower to pay immediately the full amount of principal which has not been paid and all the interest that Borrower owes on that amount. LATE PAYMENT. If the Holder has not received the full payment of any monthly payment by the end of fifteen (15) calendar days after its due date, Borrower will pay a late charge to the Holder. The amount of the charge will be five (5%) percent of the overdue payment of interest and principal, if due. Borrower will pay this late charge promptly, but only once on each late payment. NO WAIVER BY HOLDER. Even if, at a time when Borrower is in default the Holder does not require Borrower to pay immediately in full as described above, the Holder will still have the right to do so if Borrower is in default at a later time. PAYMENT OF HOLDER'S COSTS AND EXPENSES. If the Holder has required Borrower to pay immediately in full, the Holder will have the right to be paid back by Borrower for all of her costs and expenses in enforcing this Note to the extent not prohibited by applicable law. These expenses include, for example, reasonable attorney's fees. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Holder's prior written consent, Holder may, at her option, require immediate payment in full of all sums secured by this Note. r If Holder exercises this option, Holder shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Note. If Borrower fails to pay these sums prior to the expiration of this period, Holder may invoke any remedies permitted by this Note without further notice or demand on Borrower. CROSS DEFAULT. In the event of a default, as defined in the Mortgage, Note or Construction Agreement, the entire unpaid balance of the principal debt, additional loans or advances and all other sums paid by Holder to or on behalf of the Borrower pursuant to the terms of this Note, Mortgage or Construction Agreement together with unpaid interest thereon, shall at the option of the Holder and without notice become immediately due and payable. NON ASSIGNMENT. This Note and Construction Agreement or any portion of them cannot be assigned without the prior written approval of Holder. Holder is under no obligation to give such consent and may withhold said consent at its option. 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 DEFAULT 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 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 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. By: Fred Miller ?' `-v h f. ^? '' s b r. . . T \, ?i ti h' r?? to '?? A ? ?' ?- ? ? R ??. N? fi h r ?., M ? ?. U ? ?. ?. ? ' v `F: l J ? c c- ?' ?` ?? (??? r? n 7 r nt ? ? Y ?? ? a ?, ?.r? ?? Rh ?_ ? o' F, ?? v, Y '?^^'- ^+?J (?` ?- ?"(? 0.? .1 ---L, ? _. ?`i ? ` ? ?_ ?? 4i Geneviev A. Diehl r V. Michael C. & Brook E. Diehl Jonathan S. & Renee L. Diehl Fred Miller 06-2061 Civil Term SUBORDINATION AGREEMENT AGREEMENT MADE this 13th day of May, 2006, by and between GENEVIEVE A. DIEHL, an adult individual, of Cumberland County, Pennsylvania (herein, "Holder") and JONATHAN S. DIEHL and RENE L. DIEHL, husband and wife, of Cumberland County, Pennsylvania (herein, "Borrower"). WHEREAS, Holder has filed a ludgmentNote against the Borrower in the Cumberland County Prothonotary's Office at DocketNo. 06-2061 inthe amount of $100,000.00 on April 12, 2006 (herein, "Judgment Note"); and WHEREAS, Commerce Bank (herein "Lender") is about to loan the sum of $50,000.00 on a certain note of Mortgagors to be secured by a mortgage on and coveringthe real property at 629 South Hanover Street, Carlisle, Pennsylvania; and WHEREAS, to induce Lender to make such loan, it is necessary that the Judgment Note held by Holder be subordinated to the lien of the mortgage about to be made by Borrowerto Lender set forth above. NOW, THEREFORE, intending to be legally bound hereby, the parties to hereby agree as follows: Holder hereby covenants, consents and agrees that the above mentioned Judgment Note held by Holder is and shall continue to be subject and subordinate to the lien of the mortgage aboutto be made by Borrower to Lender as stated above. 2. This Agreement shallbe binding upon and shall inure to benefit ofthe respective heirs, legal representatives, successors and assigns to the parties hereto. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. Witness: Witness: Holder: A Genevieve A. Diehl COMMONWEALTH OF PENNSYLVANIA ) ): ss. COUNTY OF ?UM??2.Cr?y, ) On this, the,/3h&y of May, 2006, before me, the undersigned officer, personally appeared GENEVIEVE A. DIEHL, known to me (or satisfactorily proven) to be the person whose name is subscribed to the within instrument, and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto NOTARIAL SEAL HAROLD S. IRWIN, III, NOTARY PUBLIC ARLISLE BOROUGH, COUNTY OF CUMBERLAND `DIY COMMISSION EXPIRES OCTOBER 22, 2006 COMMONWEALTH OF PENNSYLVANIA ) /? ,- ): 55. COUNTY OF bwrr+BF-9 L?-0 ) On this, the 1 >day of May, 2006, before me, the undersigned officer, personally appeared JONATHAN S. DIEHL and RENE L. DIEH.L, known to me (or satisfactorily proven) to be the persons whose names are subscribed to the within instrument, and acknowledged that they executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and official seal. NOTARIAL SEAL CORRW BORO, MYERS, NOTARY PUBLIC COUNTY OF CUMBERLAND ;p,ALISLE MY COMMISSION EXPIRES MAY 27 .. ? g n ? rn? -cr A- i GENEVIEVE DIEHL, : IN THE COURT OF COMMON PLEAS OF Plaintiff : CUMBERLAND COUNTY, PENNSYLVANIA V. : CIVIL ACTION - LAW MICHAEL C. & BROOK E. DIEHL, : NO. 2006 - 2061 CIVIL TERM JONATHAN S. & RENEE L. DIEHL & FRED MILLER, Defendants PARTIAL RELEASE OF JUDGMENT LIEN Whereas, on April 12, 2006, confession of judgment was entered in the amount of $100,000 in favor of Genevieve A. Diehl and against Michael C. Diehl and Brook E. Diehl, et al., in the Court of Common Pleas of Cumberland County and filed to the above term and number; Now, at the instance and request of Michael C. Diehl and Brook E. Diehl, and in consideration of the sum of $1.00 paid by them, receipt of which is hereby acknowledged, and intending to be legally bound hereby, Genevieve A. Diehl, for herself, her heirs and assigns, hereby withdraws the above stated judgment, only insofar as it pertains to Michael C. Diehl and Brook E. Diehl. This partial release has no effect on the confession of judgment as it applies to the other defendants. In witnesses whereof, I have set my hand and seal this 15th day of June, 2006. ULC<:?? Witness Sworn and subscribed before me This ??lay of June, 2006. Notary Public w Genevieve A. Diehl NOTARIAL SEAL HAROLD S. IRWIN, III, NOTARY PUBLIC ARLISLE BOROUGH, COUNTY OF CUMBERLAND ^.v OOMMISSION D(PIRES OCTOBER 22, 2006 44 GENEVIEVE DIEHL, Plaintiff V. MICHAEL C. DIEHL, JONATHAN S. DIEHL & FRED MILLER, Defendants NO. 06 - 2061 CIVIL TERM CERTIFICATE OF SERVICE I, Mark F. Bayley, Esquire, attorney for Plaintiff do hereby certify that I this day served a copy of the within Partial Release of Judgment upon the following by depositing same in the United States mail, postage prepaid, at Carlisle, Pennsylvania, addressed as follows: Michael C. & Brooke E. Diehl 7 Joseph Drive Boiling Springs, PA 17007 Jonathan S. & Renee L. Diehl 629 S. Hanover St. Carlisle, PA 17013 Fred Miller 13 Mt. Allen Road Mechanicsburg, PA 17055 Dated: 1 1 9 --" ( (0 IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA L/Lf?7? Mark F. Bayley, Esquir Attorney for Plaintiff 1r J N f-- ? it r^? T, ....._ . F'7 T ? ' r I ay i GENEVIEVE DIEHL, Plaintiff, VS. MICHAEL C. & BROOKE. DIEHL, JONATHAN S. & RENEE L. DIEHL & FRED MILLER Defendants : IN THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION - LAW NO. 2006 - 2061 CIVIL TERM PRAECIPE TO SATISFY To the Prothonotary, Please satisfy the above referenced judgment. Thank you. Respectfully submitted, BAYLEY & MANGAN Date: Mark F. Bayley, Esquire 17 West South Street Carlisle, PA 17013 (717) 241-2446 Supreme Court ID # 87663 GENEVIEVE DIEHL, Plaintiff, vs. MICHAEL C. & BROOKE. DIEHL, JONATHAN S. & RENEE L. DIEHL & FRED MILLER Defendants : IN THE COURT OF COMMON PLEAS OF : CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION -LAW : NO. 2006 - 2061 CIVIL TERM CERTIFICATE OF SERVICE I, Mark F. Bayley, Esquire, attorney for Plaintiff do hereby certify that I this day served a copy of the within Praecipe To Satisfy upon the following by depositing same in the United States mail, postage prepaid, at Carlisle, Pennsylvania, addressed as follows: Michael C. & Brooke E. Diehl 7 Joseph Drive Boiling Springs, PA 17007 Jonathan S. & Renee L. Diehl 629 S. Hanover St. Carlisle, PA 17013 Fred Miller 13 Mt. Allen Road Mechanicsburg, PA 17055 Mark F. Bayley, Esquire I-'Z "V?r Dated: ( wf _; -.