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HomeMy WebLinkAbout06-3132 To: Cumberland Valley Cooperative 908 Mt. Rock road Shippensburg, Pa. 17257 JUDGMENT NOTE From: Lee A. Hoover, Jr. $ 15.000.00 Linda D. Hoover ' Date: Maroh 21.2006 575 Park Drive Boiling Sprtngs,Pa.. 17007 Shippensburg, Franklin County, Pennsylvania FOR VALUE RECEIVED, the undersigned promise to p y to the order of CUMBERLAND VALLEY COOPERATIVE ASSOCIATION, at 908 Mount Rock R d, Shippensburg, Franklin County, Pennsylvania, or at any other place in the Commonwealth of Penn ylvania that any holder of this Note may designate in writing, the sum of $15,000.00, with interest at 18. °h, from the date written above until paid, subject to terms of an agreement of even date; provided, h ever, the maker or his successors shall not pay more than amounts actually advanced on account, ith interest, by Cumberland Valley Cooperative Association. The Maker shall have the right to prepay the principal of thi Note in whole or in part prior to its due date without premium or penalty. ff this Note is placed in an Attorney's hands for collection, or collected by a suit or through a bankruptcy, probate or other Court proceeding, either before or afte maturity, there shall be paid to the holder of this Note reasonable Attomey's fees of 15%, costs and of er expenses incurred by the holder in enforcing the terms of this Note. The Makers, signers and endorsers of this Note severally ive, demand, presentment, notice of dishonor, diligence in collection and notice of protest and agree to all extensions and partial payments before or after maturity, without prejudice to the Holder. The undersigned cert'fiies that they were advised and u derstood that they could have an attomey examine the said Demand Note and any other documents in connection with the loan prior to execution. The undersigned hereby certfies in connection with the to above referred to secured by this Judgment Note containing a confession of judgment authorizing ny attorney or prothonotary of any court of record in Pennsylvania or elsewhere to confess judgment a ainst the undersigned: that the loan for which said Note was given is not a consumer loan; that the i me of the undersigned (conjugal income if both spouses executed the Note) is $10,000.00 or more; hat it was orally explained and fully understood by the undersigned that the execution of a deman Note containing a confession of judgment clause was a waiver of the right to have a prejudgment otice and hearing, the right to have the burden of proving default on Cumberland Valley Cooperative ociation, the Creditor, and the right to avoid expenses attendant upon opening or striking a confessed judgment and that the undersigned voluntarily executed the said Demand Note with a confession of judgment clause knowing that the aforesaid rights have been waived and that an execution may be is ued on a judgment entered on said confession against their property. Witn Witn SWORN TO AND SUBSCRIBED BEFOIRE ME THIS ~=DAY OF ~Q/GL~ , Notarial Seal Merle D. Hamish, Notary ublic Southampton Twp., Frankli County My Commission Expires Jar. 19.2!1n9 nber Pen s_ .., i V, ,rve,ti AGREEMENT THIS AGREEMENT is made this 21st day of CUMBERLAND VALLEY COOPERATIVE cooperative association organized under the by and between TION, an agricultural Agricultural Association Law of 1990, hereinafter SELLER, with a principal place pf business at 908 Mt. Rock Road, Shippensburg, Franklin County, Pennsylvania, 17 and Linda D. Hoover, adult individuals, hereinafter PURE Park Drive, Boiling Springs, Pa. 17007. RECITALS: R1. PURCHASER is a member of SELLER R2. PURCHASER desires to buy certain with favorable rates of interest; and R3. SELLER is willing to extend to favorable than it would on its open accounts provided NOW, THEREFORE, in consideration of the and other good and valuable consideration, receipt of and intending to be legally bound, the parties agree as 1. SELLER will provide to PURCHASER s he or she shall require, including without limitation, weed control products, at prices SELLER and time. and Lee A. Hoover, Jr. USER, who reside at 575 Association; and from SELLER on credit credit on terms more conditions are met. promises contained herein is hereby acknowledged of his agronomy needs as pest control products and agree to from time to I ~ 2. PURCHASER shall execute a amount with interest at 18% per annum payable on the which is attached hereto as Exhibit "A". From time to additional agronomy needs by PURCHASER from execute additional Judgment Notes increasing the 3. Notwithstanding the terms of the Judgrc interest at 10.0% per annum, hereinafter "discounted PURCHASER'S account with SELLER so long as the accrued interest by the February 15. 2007. 4. In the event that PURCHASER does Note in an agreed upon a copy of upon the purchase of R, PURCHASER will amount. Note, SELLER will accept on the unpaid balance of is paid in full, with make payment in full as aforesaid, the interest on the account shall revert to h8% as of the date of this Agreement. 5. SELLER may file the Judgment Note to which reference was made in Paragraph 1 above, in the office of the Prothonotary for the Court of Common Pleas of Cumberland County, Pennsylvania, or in any County i~ which PURCHASER owns property. Notwthstanding the principal amount noted on the Judgment Note, SELLER shall not collect amounts in excess of thel actual credit extended to PURCHASER with interest thereon. 6. The discounted rate is extended to condition that payment of the account in full be made by 7. Commencing the date of this Agreement thereafter, PURCHASER will buy from SELLER such f control products which he shall require from SELLER. on the express February 15. 2007. continuing for one year weed control or pest 2 8. In order to ensure payment of the obl~jations as set out herein, PURCHASER shall obtain a crop insurance policy fr}~m an insurance company acceptable to SELLER in an amount of at least $15 000 00 and shall name SELLER as an additional loss payee as its interest may appear anld shall provide to SELLER a copy of the declaration page and receipt for payment of of the date of this Agreement. 9. Beginning on the first of each month Agreement, and continuing on the first of each month pursuant to the terms of this Agreement, installment payments of $0 per month which shall be interest at the discounted rate and then to any PURCHASER'S account with SELLER. 10. This Agreement is made at SELLER's Franklin County, Pennsylvania. premium within ten days following the date of this until payment in full will pay to SELLER by SELLER first to due and owing on place of business in 11. This Agreement shall be for a term of one ~(1) year and shall not renew absent a separate written Agreement of the parties. 12. PURCHASER shall not provide to any crop planted prior to the payment date set out herein SELLER. Further, SELLER shall offer PURCHASER forward contract, according to the terms of which he agreed upon price, so much of his crop as the parties forward contract, if any, is attached hereto as Exhibit "B" SELLER of any agreement made by PURCHASER to person an interest in any the written consent of option of entering into a sell to SELLER at an determine. A copy of the PURCHASER shall advise grain to any other person 3 within seven days of making such Agreement. PURCHASER delay in meeting the terms of this Ac 13. This contract is made in the be governed by the law of the Commonwealth of Penns 14. The terms of this Agreement shall inure to on the parties hereto and their heirs, executors, assigns, 15. Each provision of this Agreement is sev~ event that one provision is determined to be provisions shall remain in full force and effect. 16. This Agreement supersedes all prior agreements, representations and conditions not contains a sale may cause the of Pennsylvania and shall benefit of and be binding successors. from the rest. In the the balance of the and written promises, j herein. 4 IN WITNESS WHEREOF, the parties hereto have day and date first above written. Witness: COOPERA Attest: ~~ ~ ~ Treasurer set their hands and seal the VALLEY ASSOCIATION ~~l 5 ~ ~~ r ~ ~' T~ `~ C -~' t Cl r - ~ i r . ~ ~ . , ~ ~ f.1 ~ ~ ~~ ~~ U ~ t -'i `~' _' _ : m ~ ~ ~ ~ ( y ; a ..yam .. ., Cumberland Valley Cooperative } } Plsi>tti@' VS. Lee A. Hoover,. Jr. } Linda D. Hoover - In the Court of Common Peat: of Cumberland County, Penasylvania Judgment in fava of Plaintiff on 6 / 1 / 2 0 0 6 f~=15,000.00 moo, 06-3132 Civil Term Ddradattt Cumberland Valley Cooperative Plaintiff in the above)ttd~crtatt, do appear and aclatowledge that W e this day have had and reexived and from Lee A. Hoover,.Jr., and Linda D. Hoover the deteadsat io the above Jttdgtnent, full payment sad satisfaction of the same, with interest and costs, and desired that satisfaction therefore shall be entered open the records thereof. And titrther, I do hereby authorize and empower Curtis Long ~ Prothonotary of said CouR, to appear for u S ~ in ou r name and stead to enter full satisfaction upon the record of said Judgtrtent, ss fully and effecdtally. to all intenb and Purposes, as We ~~ wero We poly present in person w do so. And for ao doing this shall be your sufficient warrartt of authority. in testimauy whereof, 1 have hera atto set our hoods sad seals this 1 th day. of May . A.D. 20 0 ~ ~~ ~ ~ (Seal) State of Pennsylvania } County of Cnmbarlaud,} (Seal) (Seal} Personally appeared bef~e me, the anbaen'ber, -~.~ 1 e 1 J a~rn i ~Sh ate Plaintiffin the above Judgmart, and ut due form of law aclawwledged the within and foregoing Power of Attorney to satisfy the Judgrrtctt set forth, to be ,~ act and deed, and desit+ed that ate same shall be 51ed of record in the office of the Prothonotary of the Court of Cornmon Pleas of said County, 1~ la testimony wherYOf; I have hereunto set my hand and seal this ~ ~ day of A.D. 20Q1. +-~+~~L-~-~' L~ ~ ~ ~ / t~~ (Seal) (Seal) COMMONWEALTH OF }~~fktal~' ~ 'i+trtt, NOTARIAL SEAL DEBORAH WARREN, Notary Public Shippe~sburg Twp., Cumberland CourtCy Commission Expfre5 Nov. 8, 2 Tctm _ f_~ Ka ~~ NM#1~ lt~ PUy'~I~:OF ~.TTQ~Y '~o Satisfy a 7ud~°ient vs. _.--- zo,_..._ Filed r~ fi C:? ~ - n ~' .a .:,~ ~~ ~ ,y ,*~+ ~ "'~ ~ ~: .-~ f'a`t . ~.