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HomeMy WebLinkAbout02-2089NOTE April 17, 2002 Mechanicsburg, Pennsylvania 21 Blue Mountain Vista, Mechanicsburg, PA 17050 1. BORROWER'S PROMISE TO PAY In return for a loan that l have received, I promise to pay U.S. $ ,~O, '~7/~, ~ (this amount is called (~principal"), plus interest, to the order of the Lender. The Lender is I~D & K, INC., 2300 Bent Creek Boulevard, Mechanicsburg, PA 17050. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder". 2. INTEREST AND PAYMENT Interest on this obligation will accrue at seven and a half percent (7.5%) per annum (simple interest). This obligation must be paid in full on or before May 15, 2002. All payments due under this Note will be made at 2300 Bent Creek Boulevard, Mechanicsburg, PA 17050 or a different place if required by the Note Holder. 3. BORROWER'S RIGHT TO PREPAY I have the dght to make payments of principal at any time before they are due. A payment of principal only is known as a "prepayment." When I make a prepayment, I will tell the Note Holder in writing that I am doing so. I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will use all of my prepayments to reduce the amount of principal that I owe under this Note. If I make a partial prepayment, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. 4. LOANCHARGES If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (I) any such loan charge shall be reouced by the amount necessary to reduce the charge to the permitted limit; and(ii) any sums already collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to m~e this refund by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal, the reduction will be treated as a partial prepayment. 5. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of 15 calendar days after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be four (4%) percent of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment. (B) Default If I do not pay the full amount of this Note on the date it is due, I will be in default. To secure payment of this obligation, we and each of us authorize any attorney of any court of record to enter a judgment against the undersigned, or either of us, at its discretion and in its favor without notice and without declaration of default for non-payment, which entry will give the holder a lien as security for payment upon the real property (including the home) owned by the undersigned at the time of entry, and a lien on personal property owned by the undersigned at the time it is given to the Sheriff for execution. We and each of us waive all right to notice and to have an opportunity to be heard prior to the entry of the judgment on the Court records, understanding that the only method to challenge this judgment would be by proceedings in Court to open or strike it, which proceedings would result in substantial attorneys fees which the undersigned would have to pay. (Without such clause containing a Confession of Judgment, the holder wo~Id have to file suit against the undersigned which would give the undersigned an opportunity for a hearing which the undersigned does not have by reason of the Confession.) (c) Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is delivered or mailed to me. (D) No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. (El Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder. will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorneys' fees. 6. GIVING OF NOTICES Unless applicable law requires a different method, any notice, that must be given to me under this Note will be given by deliverin~l it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(Al above or at a different address if I am given a notice of that different address. 7. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the premises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 8. WAIVERS I and any other person who has obligations under this Note waiver the rights of presentment and notice of dishonor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor' means the dght to require the Note Holder to give notice to other persons that amounts due have not been paid. 9. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust or security Deed (the "Security Instrument"), dated the same date as this Note, protects the note Holder from possible losses which might result if I do not keep the promises which I make in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this note. Some of those conditions are described as follows: 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 Lender's prior wdtten consent, Lender may, at is option, raquire immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by Federal Law as of the date of this Security Instrument. If Lender exercises this option, Lender 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 be pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. ' ' Marian B. Eichidger~7" George F. and Marian B. Eichinger 21 Blue Mountain Vista Mmchanicsburg, PA 17050 EXPLANATION OF RIGHTS IN CONNECTION WITH SIGNING OF INSTRUMENT CONTAINING CONFESSION OF JUDGMENT, AS REQUIRED BY OPINION OF THE SUPREME COURT OF THE UNITED STATES RE: NOTE IN FAVOR OF DD&K, INC. AND AGAINST THE UNDERSIGNED, CONTAINING A CONFESSION OF JUDGMENT. DATED: April 17, 2002 AMOUNT: $ ~'~0? ~/~'~ The undersigned certify that the income of the undersigned, or conjugal (husband-wife) income with both spouses executing the document, is at least $10,000.00 annually. Affirmed to and sub.~cribed ) before me this ?~_~day ) of At~'~'; I ,2002. ) George F. Eic]oiJ~geff ' Notary public _ V lqot~l se. al ..... / Marian B. Eichinger~/ I -.. "~"~"~"'n Boro, Laneaam' ~oun,, The undersigned clearly and specifically understand that by signing the note above referred to, containing a Confession of Judgment Clause: 1. We and each of us authorize any attorney to enter a judgment against the undersigned, or either of us, at its discretion and in its favor without notice and without declaration of default for non-payment, which entry will give the holder a lien as security for payment upon the real property (including the home) owned by the undersigned at the time of entry, and a lien on personal property owned by the undersigned at the time it is given to the Sheriff for execution. 2. We and each of us waive all fight to notice and to have an oppommity to be heard prior to the entry of the judgment on the Court records, understanding that the only method to challenge this judgment would be by proceedings in Court to open or strike it, which proceedings would result in substantial attorneys fees which the undersigned would have to pay. (Without such clause containing a Confession of Judgment, the holder would have to file suit against the undersigned which would give the undersigned an opportunity for a hearing which the undersigned does not have by reason of the Confession.) The undersigned acknowledge receipt of a copy of this Affidavit and certify that after reading and fully understanding it, the undersigned have signed this Affidavit intentionally, understandingly and voluntarily waiving ail the above rights, being willing to sign each note despite the consequences set forth above. Affmned to and subscj'ibed ) before me this /~]d,~ day ) of ,~;! ' ;2002. ) v. ) Notary Public George F. Eichinger Marian B. Eie~hinger ~ - I ,.,...a?n.a C. Clou,~r, No~ Public ..... ~ [_my Commi~ie~ Expires Su{y 7, 200/] IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA CIVIL ACTION - LAW DD&K, INC. 2300 Bent Creek Boulevard Mechanicsburg, PA 17050 Plaintiff VS. George F. Eichinger and Marian B. Eichinger, H/W 21 Blue Mountain Vista Mechanicsburg, PA 17050 ) ) ) ) ) ) ) ) ) ) ) 2002-2089 PRAECIPE TO THE PROTHONOTARY: Dear Mr. Long: Please enter my appearance on behalf of the above named Plaintiff, DD&K, Inc., and mark the docket of this case settled, ended and all costs paid so that the lien of the judgment shall be satisfied of record. Respectfully Submitted, GiNGRiCH, SMITH, .KL//~_ G~/TH & DOLAN By: J~l~n M. Smitl[, l~quire ~AA~e°~m~ [~ NP 1,oal.' ~t~ 5ff20 222 S. Market Street, Suite 201 Elizabethtown, PA 17022 (717) 367-1370