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HomeMy WebLinkAbout06-3040 e MOUSTAFAMAHMOUD, Plaintiff IN THE COUR CUMBERL PENNSYL V OF COMMON PLEAS COUNTY, Moustafa to Khalil Note Disclosure scn/PLCB settlements vs. NO. 0 - . Civil Tenn KHALIL MR MOHAMED and EMAN RASHW AN, Defendants CIVIL ACTIO~ - LAW To: Khalil MR Mohamed Eman Rashwan You are hereby notified that on the .LL. !:; day of judgment by confession was entered against you in the sum of the above-captioned case. ,2006, 60, 00.00, with 4% interest, in Date: 1vL..,/ ;;2.(. ,2006 YOU SHOULD TAKE THIS PAPER TO YOUR LAWYE AT ONCE. IF YOU DO NOT HAVE A LAWYER OR CANNOT AFFORD ONE, GO T OR TELEPHONE THE OFFICE SET FORTH BELOW TO FIND OUT WHERE YOU C GET LEGAL HELP. Cumberland County Bar Association 32 S. Bedford Street Carlisle, P A 17013 (717)243-3166 or 1-800-990-9108 I hereby certifY that the following is the address ofthe Defen ants stated in the certificate of residence: Khalil MR Mohamed 2347 N. 3rd Street Harrisburg, PA 17110-1816 Eman Rashwan 252 Kingston Av nue Yonkers, NY 10 01 Attorney for Plaintiff(s) MOUSTAFAMAHMOUD, Plaintiff IN THE COUR CUMBERL PENNSYL V OF COMMON PLEAS COUNTY, vs. NO. Civil Term KHALIL MR MOHAMED and EMAN RASHW AN, Defendants CNIL ACTIO - LAW Para: Khalil MR Mohamed Eman Rashwan Por este medio sea avisado que en el dia _ de fallo por admission fue registrado contra Ustedes por la cantidad d escrito. de 2006, un $60,000.00 del caso antes Fecha: el dia de de 2006. Protonotario LLEVE ESTA DEMANDA A UN ABODAGO IMMEDIA AMENTE. S1 NO TIENE ABOGADO 0 S1 NO TIENE EL DINERO SUF1CIENTE DE AGAR TAL SERV1C10, VA Y A EN PERSONA 0 LLAME POR TELEFONO A LA OF1C A CUY A DIRECC10N SE ENCUENTRA ESCRITA ABAJO PARA AVERIGUAR DONDE SE PUEDE CONSEGUIR AS1STENCIA LEGAL. Cumberland County Bar Association 32 S. Bedford Street Carlisle, P A 17013 (717)243-3166 or 1-800-990-9108 Por este medio certifico que 10 siguiente es la direccion de los emandados dichos en el certificado de residencia: Khalil MR Mohamed Eman Rashwan 2347 N. 3'd Street 252 Kingston Av nue Harrisburg, PA 17110-1816 Yonkers, NY 10 01 ~/l Abogado(a) de Demandante(s) "JU,. Dt.. 36 'f D ~ T.b- Moustafa to Kha1i1 Note Disclosure scnIPLCB settlements DISCLOSURE FOR CONFESSION OF JUD~MENT Borrower/Affiant: Khalil MR. Mohamed 2347 N 3rd Street Harrisburg, PA 17110-1816 Lender: oustafa Mahmoud 4 5 Cherrington Drive 'sburg, PA 17110-9498 Borrower/Affiant: Eman Rashwan 252 Kingston Avenue Yonkers, New York 10701 () ~ 0 ~; ~ -n 3' .... -rJ;~I' ......,.. :J:-r1 r~_:j - n1 ..:... -<:: F :~.:.',j N ::89 :> 0'1 c:~:~ (...' r.~..-_: :..,~ ~f"l ,.:;:. > /:--::0 1 _'. :l: .:2 C) DISCLOSURE FOR CONFESSION OF JUD MENT t: CD Sin -c' .. ?i5 We are executing on the date hereafter set forth, a Promis ory Note and gu~antYfor-< $60,000.00, which is effective as of march 15, 2006. A. We understand that the note and guaranty contains a onfession of judgment that would permit Lender to enter judgment against us in court, after a default on the note and guaranty, without advance notice to us and without offering us an 0 portunity to defend against the entry of judgment. In executing the note and guaranty, being lly aware of our rights to advance notice and to a hearing to contest the validity of any ju ent or other claims that Lender may assert against us under the note and guaranty, we are owingly, intelligently and voluntarily waiving these rights, including any right to advance noti e of the entry of judgment, and we expressly agree and consent to Lender's entering judgment gainst us by confession as p""idod rodn ~~'i" of j,,_, provi.,. Initials: Initials: B. We further understand that, in addition to giving Lender the right to enter judgment against us without advance notice or a hearing, the confessi n of judgment provision in the note and guaranty also contains language that would permit Len er, after entry of judgment, again without either advance notice or a hearing, to execute on t e judgment by foreclosing upon, attaching, levying on, taking possession of or otherwise seiz ng our property, in full or partial payment of the judgment. In executing the note and guarant , being fully aware of our rights to advance notice and a hearing after judgment is entered d before execution on the judgment, we are knowingly, intelligently and voluntarily waiving th se rights, and we expressly agree and consent to Lender's immediately executing on the judgme t, in any manner permitted by applicable sr~ederallaw, without giving us any advance no ice. Initials: Initials: ~ . I I ! , C. After having read and determined which of th~ following statements applicable, and by placing our initials next to each statement that ap~lies, we represent that: are Initials: Initials: 1. We were represented by our 0 n independent legal counsel in connection with the note and guaranty. Initials: Initials: ){rvJ c-}(J ?- . 2. A representative of Lender spe ifically called the confession of judgment provisi n in the note and guaranty to our attention. D. We certify that our annual income exceeds $10,0 0; that the blanks in this disclosure were filled in when we initialed and signed it; and that w received a copy at the time of signing. This disclosure is given under seal and it is intended that this disclosure is and shall constitute and have the effect of a sealed instrument according to law Borrowerl Affiant: Dated: oL( //1/ 2006 Eman Rashwan Dated: ,.., Lf / J I / 2006 Moustafa to Khalil Note SCNIPLCB settlements PROMISSORY NOTE Borrower: Khalil MR. Mohamed 2347 N 3'd Street Harrisburg, PA 17110-1816 Lender: Borrower: Eman Rashwan 252 Kingston Avenue Yonkers, New York 10701 Principal Amount: $60,000.00 Rate of Interest: 4% Effecti Date of Note: April 6, 2006 PROMISE TO PAY. Khalil MR. Mohamed and Eman Rashw n ("Borrower"), jointly and severally, promise to pay to Moustafa Mahmoud ("Lender") in lawful oney of the United States of America, the principal amount of $60,000.00, together with interest on the unpaid principal balance from the date ofthis Note until paid in full. PAYMENT. This loan is payable over 32 months. Borrower will pay t . s loan with interest computed on the unpaid principal balance at the rate of 4% per annum in 31 qual monthly installments of $2,000.00 Moustafa Mahmoud and one final installment of $1,322. 4, with the first payment due and payable on April 15, 2006. All subsequent payments thereafter shall b due on the same day of each following month until the loan is paid in full. Borrower's final payment will be due on November 15, 2008, and ill be for all principal and all accrued interest not yet paid. Payments include principal and interest. Unle s otherwise agreed or required by applicable law, payments will be applied first to accrued unpaid inter st, then to principal, and any remaining amount to any unpaid collection costs and late charges. The ann al interest rate for this Note is computed on a 365/360 basis; that is, by applying the ratio of the annual i terest rate over a year of 360 days, multiplied by the outstanding principal balance, multiplied by th actual number of days the principal balance is outstanding. Borrower will pay Lender at Lender's a dress shown above or at such other place as Lender may designate in writing. FIXED INTEREST RATE. The interest rate on this Note is fixed at th rate of 4% per annum. LATE CHARGE. If a payment is 10 days or more late, the Borrower will be charged 10% of the regularly scheduled payment. INTEREST AFTER DEF AUL T. Upon default, including failure to pay up n final maturity, Lender, at its option, may, if permitted under applicable law, increase the interest rate on his Note to the maximum rate permitted by applicable law. The interest rate will not exceed the maximu rate permitted by applicable law. If judgment is entered in connection with this Note, interest will conti e to accrue on this Note after judgment at the interest rate applicable to this Note at the time judgment is ntered. , DEFAULT. Each of the following shall constitute an event of default ctEvent of Default") under this oo~ . PAYMENT DEF AUL T. Borrower fails to make any payment whdn due. , OTHER DEFAULTS. Borrower or any Guarantor fails to compl with or to perform any other term, obligation, covenant, or condition contained in this Note or in any f the related documents or to comply with or to perform any term, obligation, covenant or condition co tained in any other agreement between Lender and Borrower. DEFAULT IN FAVOR OF THIRD PARTIES. Borrower or any Guarantor defaults under any loan, extension of credit, security agreement, purchase of sales agree ent, lease agreement for the premises Borrower occupies at 321 Bridge Street, New Cumberland, Pe nsylvania 17070, or any other agreement, in favor of any other creditor or person that may materially aff< ct any of Borrower's property or Borrower's ability to repay this Note or perform Borrower's obligation under this Note or any of the related documents. FALSE STATEMENTS. Any warranty, representation, or sta ement made or fumished to Lender by Borrower or on Borrower's behalf under this Note or the elated documents is false or misleading in any material respect, either now or at the time made or urnished or becomes false or misleading at any time thereafter. INSOLVENCY. The dissolution or termination of Borrower's exi tence as a going business, 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, r the commencement of any proceeding under any bankruptcy or insolvency laws by or against Borrow . CREDITOR OR FORFEITURE PROCEEDINGS. Commencem nt of foreclosure or forfeiture proceedings, whether by judicial proceeding, self-help, repossession or an other method, by any creditor of Borrower or by any governmental agency against any collateral secur ng the loan. This includes a garnishment of any of Borrower's accounts, including deposit accounts, with Lender. However, this Event of Default shall not apply if there is a good faith dispute by B rrower as to the validity of reasonableness of the claim which is the basis of the creditor or forfei proceeding and if Borrower gives Lender written notice of the creditor or forfeiture proceeding and d osits with Lender monies or a surety bond for the creditor or forfeiture proceeding, in an amount det 'ned by Lender, in its sole discretion, as being an adequate reserve or bond for the dispute. ts occurs with respect to any incompetent, or revokes or videnced by this Note. EVENTS AFFECTING GUARANTOR. Any of the preceding ev Guarantor of any of the indebtedness or any Guarantor dies or becom disputes the validity of, or liability under, any guaranty of the indebtedness CHANGE IN OWNERSHIP. Any change in ownership of the rest urant business to be operated by Borrower at 321 Bridge Street, New Cumberland, Pennsylvania 1707 . ADVERSE CHANGE. A material adverse change occurs in Borr wer's financial condition, or Lender believes the prospect of payment or performance of this Note is imp ired. INSECURITY. Lender in good faith believes itself insecure. LENDER'S RIGHTS. Upon default, Lender may, after giving such notice s required by applicable law, declare the entire unpaid principal balance on this note and all accrued un aid interest immediately due, without notice, and then Borrower will pay that amount. ATTORNEY'S FEES; EXPENSES. Lender may hire or pay someone e se to help collect this Note if Borrower does not pay. Borrower will pay Lender that amount. This inclu es, subject to any limits under applicable law, Lender's reasonable attorney's fees and Lender's legal exp nses, whether or not there is a lawsuit, including attorney's fees, expenses for bankruptcy proceedings (i eluding any efforts to modify or vacate any automatic stay or injunction), appeals and any anticip ted post-judgment collection services. If not prohibited by applicable law, Borrower will also pay an court costs, in addition to all other sums provided by law. WANER OF JURY TRIAL. THE BORROWER IRREVOCABLY WAIVES ANY AND ALL RIGHTS THE BORROWER MAY HAVE TO A TRIAL BY JURY IN ANY ACTION, PRO EEDING, OR CLAIM OF ANY NATURE RELATING TO THIS NOTE, ANY DOCUMENTS EXECUTED CONNECTION WITH THIS NOTE OR ANY TRANSACTION CONTEMPLATED IN ANY OF SUCH D CUMENTS. THE BORROWER ACKNOWLEDGES THAT THE FOREGOING WANER IS KNOWING AND OLUNTARY. GOVERNING LAW. This Note will be governed by, construed and enfor ed in accordance with federal law and the laws of the Commonwealth of Pennsylvania. This Note has een accepted by Lender in the Commonwealth of Pennsylvania and is related to a commercial transaction. CHOICE OF VENUE. If there is a lawsuit, Borrower agrees upon Len er's request to submit to the jurisdiction of the courts of Dauphin County, Pennsylvania. COLLATERAL. Borrower acknowledges that this Note is secured by an greement dated April 6, 2006, which refers to the purchase of certain restaurant assets, all the terms and onditions of which are hereby incorporated and made a part of this Note. SUCCESSOR INTERESTS. The terms of this Note shall be bindi g upon Borrower and upon Borrower's heirs, personal representatives, successors and assigns, and shal inure to the benefit of Lender and its successors and assigns. GENERAL PROVISIONS. Lender may delay or forgo enforcing any of i rights or remedies under this Note with losing them. Borrower and any other person who signs, guar tees or endorses this Note, to the extent allowed by law, waive presentment, demand for payment, and otice of dishonor. Upon any change in the terms of this Note, and unless otherwise expressly stated in .ting, no party who signs this Note, whether as a maker, guarantor, accommodation maker or endorser, s all be released from liability. All such parties agree that Lender may renew or extend (repeatedly and fo any length of time) this loan or release any party or guarantor or collateral; or impair, fail to realize up n or perfect Lender's security interest in the collateral; and take any other action deemed necessary by Le der without the consent of or notice to anyone. All such parties also agree that Lender may modify this oan without the consent of or notice to anyone other than the party with whom the modification is ma e. The obligations under this Note are joint and several. If any portion of this Note is for any reason det ined to be unenforceable, it will not affect the enforceability of any other provisions of this Note. CONFESSION OF JUDGMENT: BORROWER HEREBY EMPOWERS ANY ATTORNEY OF ANY COURT OF RECORD, AFTER THE OCCURRENCE OF ANY EVENT OF EFAULT HEREUNDER, TO APPEAR FOR BORROWER AND, WITH OR WITHOUT COMPLAINT F ED, CONFESS JUDGMENT, OR A SERIES OF JUDGMENTS, AGAINST BORROWER IN FAVOR OF LENDER OR ANY HOLDER HEREOF FOR THE ENTIRE PRINCIPAL BALANCE OF THIS NOTE, ALL ACCRUED INTEREST AND ALL OTHER AMOUNTS DUE HEREUNDER, TOGETHER WIT COSTS OF SliT AND AN ATTORNEY'S COMMISSION OF THE GREATER OF 10% OF SUCH P CIPAL AND INTEREST OR $1,000.00 ADDED AS A REASONABLE ATTORNEY'S FEE, AND FOR D ING SO, THIS NOTE OR A COpy VERIFIED BY AFFIDAVIT SHALL BE A SUFFICIENT W T. BORROWER HEREBY FOREVER WAIVES AND RELEASES ALL ERRORS IN SAID PROCEED GS AND ALL RIGHTS OF APPEAL AND ALL RELIEF FROM ANY AND ALL APPRAISEMENT, S~AY OR EXEMPTION LAWS OF ANY STATE NOW IN FORCE OR HEREAFTER ENACTED. ~NTEREST ON ANY SUCH JUDGMENT SHALL ACCRUE AT THE DEFAULT RATE. . NO SINGLE EXERCISE OF THE FOREGOING POWER TO CONFESS J GMENT, OR A SERIES OF JUDGMENTS, SHALL BE DEEMED TO EXHAUST THE POWER, WH THER OR NOT ANY SUCH EXERCISE SHALL BE HELD FROM TIME TO TIME AS OFfEN AS LE DER SHALL ELECT UNTIL SUCH TIME AS LENDER SHALL HAVE RECEIVED PAYMENT IN L OF THE DEBT, INTEREST AND COSTS. NOTWITHSTANDING THE ATTORNEY'S COMMISSI N PROVIDED FOR IN THE PRECEDING PARAGRAPH (WHICH IS INCLUDED IN THE W T FOR PURPOSES OF ESTABLISHING A SUM CERTAIN), THE AMOUNT OF ATTORNEY'S FEES THAT LENDER MAY RECOVER FROM THE BORROWER SHALL NOT EXCEED THE A TUAL ATTORNEY'S FEES INCURRED BY LENDER. PRIOR TO SIGNING THIS NOTE, BORROWER READ AND UNDERST OD ALL THE PROVISIONS OF THIS NOTE. BORROWER AGREES TO THE TERMS OF THIS NOT . This note is given under seal and it is intended that this note is and shaH co stitute and have the effect of a sealed instrument according to law. 11~- Khalil MR. Mohamed Eman Ra hwan r- Apr 11/2006 I NIC~OLAS LAW OFF!CSS, P.C. Mortgage Amortization Mar 15/2006. to Apr 15/2009 T Page 1 ~ Prepared For: Re; principal: Rate: ~ompounde.0_~_ Payment Date Number Nanna's Italian Restauran 60000.00 4.0000 12 Total Payment Interest Payment Principal Payrne~.!= i I I I I I , Per otero Years : Payment Payment Frequency: Interest Factor Balance Total lnt Loan Per Year 5.00 2000.00 Monthly 1. 003333333 22115 FOREST HILLS DR.. TE. 37 HARRISBURG. At.. 17112-1099 (717) M().77 FAX (717) MI-J627 4tcomcas1.flel . - r p ~ () r-:> = ~ ~ C C.;:> ..::~ , .;..1'''' '. ::x ~"T1 $ :l>" "- (Jv --< m;= --.i "" N :719 t, .." " 0'> ?l./, -.t: '-<l(~.) W r :t:" -''f"" -r <:::> :;1:: ~')~:1 '!? ("3m I'- "4 ~ r ;;0 a, -< f 'JIll ........ ~ ~