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HomeMy WebLinkAbout94-04434 ~? "'-' .,. fE ~ -:r ~~ " ~.;; !~ ,- ~, \ ,,' H .~-' .. '._ .1:1' <l I.,!.,- " In :'," .......... \ . I';: .. , , , ,,"j , ,. r~ '0 ~'~ ..~ ....... ",=:,,., ~ - .,.. =.:.:= , 4 \~ '-.'l ~ ~ ..... '" ~ ........ ,.;." r..... . ,,: ~"'" ~ ~ 'ZJ '-" "'-'I ~. _..;:~;..--:.~;~;:-~.. ; ~.~ \ \ ~J ~ ~..)I ...... y,\ tif t \.J'-.... . 1'('\ ,~\))~ .::1 I':;' '. ~ "I ... ,-.,...., ~ ::( .,.: }l '~ :) " .;:, ,~ ) -;: \ '- ~ r -'1- -- '>I -::t.. I' --- -::. ... p ~._!;.;:;C;::~~~:=:~_-=1't"~~i:t:=.~=~_. -. ~ ~ r.i aff:~~ ~~GI~ ~~~~ {j~~ o ~ - --r::=..... ". , , ,/1 ({4 It I( ~ 4 (/t<L( t. J tA.Nv- CiUUANTY AGI'IDllNT 1. DIF1"ITI0"8 - As used herein, the following terms Ihall hava the meanings indicated I (a) "Undersigned" means the person! including any form or legal entity, or, if more than one, all of the persons by whom, or on whose behalf, this Guaranty is signed, (b) "Lender" means BANI( OF BANOVlR AND TRU8T COIlI1'ANY, (c) "Pr incipa 1 Debtor" means I\ICYCLING TICBlfOLOGIIS, INe., (d) "principal Debtor's Liabilities to Lender" means all existing and future liabilities, whether absolute or contingent, of the Principal Debtor to the Lender of Iny nature whatsoever and out of whatever transactions arising, and in particular that certain loan in the principal amount of Four Hundred Fifty Thousand ($450,000.00) Dollars (the "Loan") to be evidenced by principal Debtor's Master Note of even date herewith, secured by a collateral as more partioularly deocribed in said Security Agreement of even date herewith. 2. INDUCDClNT FOR OOAI\ANTY - Lender is unwilling to make the Loan unless the Undersigned guarantees payment of the Master Note and performance by Principal Debtor of each and every term/ covenant, condition and agreement contained therein and in the Mortgage and under any and all other agreements executed by principal Debtor to or for the benefit of Lender in connection with the Loan on the part of Principal Debtor to be kept, observed or performed. The Master Note, Security Agreement, and such othar documents are hereinafter collectively referred to as the "Loan Documents." The Undersigned desires to give such guarantee in order to induce Lender to make the Loan. 3. CONTINUING OOAI\ANTY The undersigned hereby unconditionally guarantees to the Lender the due performance, including, but not being limited to, the prompt payment when due of the Principal Debtor's Liabilities to Lender. This Guaranty is a continuing one and shall be effective and binding on the Undersigned regardless or how long before or after the date hereof any of the principal Debtor's Liabilities to Lender were or are incurred, provided, however, that anyone of the Undersigned who gives written notice to Lender to that effect shall not be liable hereunder for such of the principal Debtor's Liabilities to Lender as are incurred after the receipt by the Lender of such written notice, unless the same are renewals, extensions or modifications of liabilities theretofore existing or unless the Lender is bound by agreement entered into before the receipt of such notice to permit the same to be incurred. '. 4. AMOUNT or LIABILITY - The amount of the Unders igned' I liability hereunder shall be Four Hundred Fifty Thousand ($450 000.00) Dollars. If the amount of the Undersigned's liabiiity hereunder iQ herein limited, the Undersigned agrees that the amount of the principal Debtor's Liabilities to Lender may, from time to time, exceed the said limJ,t of the undersigned's liability hereunder without in any way affeoting the liability of the Undersigned hereunder, and the Lender may apply any payment with respect to Principal Debtor's Liabilities to Lender to or on account of such of Principal Debtor'u Liabilities to Lender and in such order as the Lender may elect. 5. UNCONDITIONAL LIABILITY The liability of the Undersigned hereunder is absolute and unconditional and shall not be affected in any way by reason of (a) any failure to retain or preserve/ or the lack of prior enforcement of, any rights against any person or persons (including the Principal Debtor and any of the Underuigned) or in any property, (b) the invalidity of any such rights which may be attempted to be obtained, (c) any delay in enforcing or failure to enforce any such rights even if such rights are thereby lost, or (d) any delay in making demand on the Undersigned for performance or payment of the Undersigned's obligations hereunder. 6. WAIVERS - The Undersigned hereby waives all notices of any character whatsoever with respect to this Guaranty and the Principal Debtor's Liabilities to Lender, inclUding but not being limited to, notice of the acceptance hereof and reliance hereon, of the present existence or future incurring of any of the Principal Debtor's Liabilities to Lender, of the amount, terms and conditions thereof, and of anr defaults thereon. The Undersigned hereby consents to the tak ng of, or failure to take, from time to time without notice to the undersigned, any action of any nature whatsoever with respect to the Principal Debtor's Liabilities to Lender and with respect to any rights against any person or persons (including the Principal Debtor and any of the Undersigned) or in any property, inclUding but not being limited to, any renewals, extensions, modifications, postponements, compromises, indulgences, waivers, surrenders, exchanges and releases, and the Undersigned will remain fully liable hereon notwithstanding any of the foregoin91 provided however, that the granting of a release of the liability hereunder of less than all of the Undersigned shall be effective with respect to the liability hereunder of the one or more who are specifically so released but shall in no way affect the liability hereunder of any not so released. The death or incapacity of any of the Undersigned shall in no W&y affect the liability hereunder of any other of the Underuigned. The Undersigned hereby waives the benefit of all laws now or hereafter 'I " in effect in any way limited or restricting the liability or the Undersigned hereunder, including without limitation (a) all defenses whatsoever to the Undersigned's liabili ty hereunder except the defense of payments made on account of the Principal Debtor'. Liabilities to Lender and the Undersigned's liability hereunder, and (b) all right to stay of execution and exemption of property in any action to enforce the liability of the Undersigned hereunder. 7. PAYMENT OF COSTS - In addition to all other liability of the Undersigned hereunder and notwithstanding the limit, if any, set forth in pa~agraph 3, hereof, the Undersigned also agrees to pay to the Lender on demand all costs and expenses including reasonable attorneys' fees and legal expenses which may be incurred in the enforcement of the Principal Debtor's Liabilities to Lender or the liability of the Undersigned hereunder. B, ACCELERATION OF LIABILITIES - If any of the pr incipal Debtor's Liabilities to Lender is not duly performed, including the prompt payment when due of any amount payable thereon, all the Principal Debtor's Liabilitiea to Lender shall at the Lender's option be deemed to be forthwith due and payable for the purposes of this Guaranty and the liability of the Undersigned hereunder. 9. ENFORCEMENT - This Guaranty may be enforced by Lender without first resorting to or exhausting any other security or collateral and without fir&t having recourse to the Note or any of the remedies provided by the Loan Documents through foreclosure proceedings or otherwise. Nothing herein contained, however', shall prevent Lender from suing on the Master Note, or from exercising any other rights under the Loan Documents. If Lender exercises its remedy under the Security Agreement or other remedy is availed of, only the net proceeds therefrom after deduction of all charges and expenses of every kind and nature whatsoever, shall be applied in reduction of the amount due on the Master Note and/or other Loan Documents. Lender shall not be required to institute or prosecute proceedings to recover any deficiency as a condition of payment hereunder or enforcement hereof. At any sale of the security or collateral for the indebtedness or any part thereof, whether by foreclosure or otherwise, Lender may, at its discretion, purchase all or any part of such collateral so sold or offered for sale for its own account and may apply the amount bid therefor against the balance due it pursuant to the terms of the Note and/or the other Loan Documents. 10. eONI'ZSSION OF JUDGMENT The Undersigned hereby irrevocably authorizes and empowers any attorney of any court of record to appear for and confess judgment therein against the undersigned, or any of them, for the amount for which the Undersigned may be or become liable to Lender under this Guaranty as evidenced by an affidavit siqned by an orficer or the Lender setting rorth the amount then due, plu~ five (5') peroent thereor, but no less than Five Hundred ($500.00) Dollars, al an attorney'. commission, with costs of suit, ulease of errors, and without L'ight of appeal. If a copy hereof, veriHed by an affidavit" .hall have been filed in said proceeding, it shall not be necesoary to rile the original as a warrant of attorney. The undersiqned waive. the right to any stay of execution and the benerit of all exemption laws now or hereafter in effect. No .ingle exerc1&e of the foregoing warrant and powl\lr to con feu judgment shall be deemed to exhaust the power, whelher or not any .uch exercise shall be held by any court to be invalid, voidable, or void, but the power Ihall continue undiminished and may be e~ercised from time to time a. often as the Lender shall elect, until all sums payable or that may become payable by the Undersigned have been paid in rull. 11. NO SUBROGATION - So long as the Principal Debtor's Liabilities to Lender have not been paid in full, no payment by the Undersigned pursuant to the provisions het'eof shall entitle t.he Undersigned, by subrogation to the rights of the Lsnder or otherwise, to any payment by the Principal Debtor or out of the property of the Principal Debtor, 12. OTHER GUARANTIES A subsequent guaranty by the Undersigned or any other guarantor of the Principal Debtor's Liabilities to Lender shall not be deemed to be in lieu of or to supersede or terminate this guaranty but shall be construed as an additional or supplementary guaranty unless otherwise expressly provided thereon; and in the event the Undersigned or any other guarantor has given to the Lender a previous guaranty or guaranties, this guaranty shall be construed to be an additional or supplementary guaranty, and not to be in lieu thereof or to terminate such previous guaranty or guaranties unless expressly so provided herein. 13. MISCELLANEOUS - If the Undersigned consiots of more than one person, such persons shall be jointly and severally liable hereunder. This Guaranty will inure to the benefit of the Lender, its successors, assigns, endorsees and any person or persons, including any banking institution or institutions, to whom the Lender may grant any interest in the Principal Debtor's Liabilitieo to Lender or any of them, and shall. be binding upon the Undersigned and the Undersigned's executors, administrators, successors, Assigns, and other legal representatives. The Undersigned intends this to be a sealed instrument and to be legally bound hereby. All issues arising hereunder shall be governed by the laws of Pennsylvania. 1 OFFIC:E OF ')'In: PROTIIONOTARV OF CUMBI!RLAND COUNTY 3 South HBnover Street ('nrllsle, I'A 1701.\ IN THE COURT OP COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA Plaintiff: Bonk of HBnover Bnd Trust Company versus Defendants: Timothy J. Leighty and Robbin A. LeIghty, his wife. and Edwllrd E, Eckman and Kimberlee A. Eckll1l11l, IllS wife, Rnd Dennis L. Eckman and Ann E, Eckman, his wife Judgment No.: CERTIFICATE OF RESIDENCE P/\ R. C. P. ZJ6 I, hereby certify that the precise address of the Plaintiff is: 25 Carlisle Street. Hanover, PA 17331. And certify that the last known address of the within Defendant. Ann E. Eckman. is: 1212 Sandler Drive, Carlisle, PA 17013, /~ /,. I I' ) I I II ~ hvt..l--~ , .. LUj Daniel M, Frey, Esqulr~ Attorney for Plaintiff I.ltIJJk ell llilll()VQr IlUd 'l'r1ml - -CalJPOIlY ",,'1; III the COlin of COllllllon Plens of Cumherland County, PelUlsylvnnln \'S, Dennis [.. F.clulVln, Ann E. .' . . .F.Ckitiiiii,- . ~)jWill'd - t:.'" ~:CkJi1Bri - , .. ... - and KiJliJerlee A. F.clunl.ln ......-...........'o-......--..--..-....-...-fJ,::,'.,.....- J"dHIIlCllt III (lIl'''r "I Plnlll'lfl 'JIJ ...______.,........... .AU.guaU,i__ .19.94....,." __.. __ lor $. MiQ ,!iOO. 00 ....-..---...---.-.. ....-.-...........-.---...-....... 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Ill<r.ol, And lurther, do h.reby oUUloll,. and ""po"er...Lawmoce.E:...Welke.r..~...__.nn............... thcProtholloto.ry of IBid Court, to 3.ppear UNMU~.._......u........u....un....._....................nn... tnd In ",m. o"d "e,d 10) '.'Iller lull "14r.,uo" "PJl" Ille record of ..Id Judgm'nt, tl fully and .Ifeclutlly, to tll 'nlenta I1nd purpmcB, IU could \Vere l'<I6on<lll)' prm"l In pmon 10 do 10. And fOl' 10 dolnH thl.llhtll b. )'our lulnclent ".rr.nl of auulorilY, In Imllllon)' wh,reu!, ho\e heteUnlo .et OUt hand. .nd letll thl:' .....J..4~t~L.........._.............. d I (i),. Ji/-'/I' Ad 19 ~ . tj' 0 ...........!,- ....,.. ,......,........, ... ..~._' '.~.~.=S"~S=\~~....~m)............ (S'tl) .......,. .... n.. .............n........ 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