HomeMy WebLinkAbout94-06490
RESTAURANT EQUIPMENT INC.
2980 JEFFERSON ST., PO 80X 22ZJ
HARRISBURG, PENNSYLVANIA 1710!>
PHONE 17171 238.1214
PA 18001 882.7402
FAX (717) 238.3751
SECURITY ,IGRr:EMEi'fT
H-tIS AGREEMENT. Marje Ihis.!U.!L da)' {If Nnvpmhl~ r
,1994, hy and helwl"cn Unih:d Re~laurl1nl Equipmenl,
Inc., hereinafter l:allcd Credilor. and ~SJL.R..LllO-ln.c....
hcrcinllfler (:ulerJ ~bhlr:
WHEREAS, the:' Ddllor. L'llncumnll)' ""ith the L'\cculitln and rJdh'cry oflhis Agreement, is bel'omine. jml~blcrJ 10 Ihe Creditor in
Iheamounl of S ) 5,000,00 : and
WBERE/'S. the Ddllo( rJc)ircs 10 cnlcr iOlo Ihis Agralllcnl f(lf the purpose IIf crealing a ~curil}' interestln fll\'or oClhe
Crl"dllor in Ihe ~ood! and chane,," dcs"rit:.cd in lh~' s(.'hcrJulc herelo a!lathed. IlJalhd "Sdll:dule A ~ llnd made"" pUll hereof: and
WHEREAS,5.1idllo11dsandchallelsurenu.....nrwillh.:lncaleJaI It11 Norlh 'I~l St., Cnmp Hill. PA 17011
NOW, llJERJ:FOI~E, THIS AORIJ:r>.IENT Wi'lNESSETIt that Ochlnr. in order tn secure:
(I J The p3yment of th(' debt evidenccd by said Ollie,
(or,
(2) All '0515 and c'rcme5 incurred in thc ,ulle'tiun oflhe 53111e. includinlllhe allomC')' fee nnd commlufon therein provided
(3) AU (uture advances and e~pendilUr(,5 mad.: by the Crcditllr (or an)' renll,llUles, levies, aS~Slments, charSe'I, insurance,
repairs, maintenance' or prolC'cllon on or of the goods and challds de5l:ribed on Schedule A hereof.
UNTn.. de(auh hercund~r, lXt'ltor shall he entflled In PU5scssiun of the ~oods nnd challels and to use and enjo)'lhe same.
TIlE DEBTOR Wamn15 and agrees that:
I. The: goods and chattels are not now nnd will nOI be ~f} affixcd Uf rdated tu realty as to be a part IlIereof,
.
2. The: goods and challels are or "ill be owned by the Deblor and an: not subjeclto any securil)' interest exctptthat crented by
thi, Agreemenl. or to any liens or encumhrances, and the- De:blor \\ill defend Ihe goods and chllnets ogainsl the claims nod demands of 011
persons, .
3, Deblor will nlll sell. exchange or 1C'.1~e, mUn~.1gl', elll.l1mheror plcdll~. conc('al, remO\'f' or olheNisf' dispose oClhe goods
IUld chaueh, Orcrelllc iJ.ny securit)' inh:re51lhcrein (e:((cll1 crealed hy this I\greeme:nl', or 11l1empllU do 50 "ithoutlhc prior wrilten
consent of the Cn:ditor.
4, Deblor will care fur and maintain the rOOO5 :md chaneh in a good, ,ureful and hu~band Jile wndiuon, lIl.1nner and repair,
rellSonable WelU' and Icar cxct:Pled, nnd "ill pay llnd disd\nrgc allt:ueli, le\'icJi und other imposilionli le'ied Iht:n:on as well llS Ih.: cOlil of
repairs 10 or mBintenance: of the same, r(D.:blor fails In pay such sums, Credilor may do So (or lXblor'li account, addinglhe amount
Ihereoflo Ihe debt secured hcn:b)',
$, ()cblur "ill insure Ihe goods Bgainsl such risks nnd casuallles and in such amounts 05 Cr('dit~r shall requin:. and 'hall pay
all premiums therefore, All insurance polides shall he "rillen furth" bc:ndil tlf Dehlor and Creditor ~ lhL'ir inle-TCS( mil)' appelU'. and such
policies or cenificales e:\'idt:ndng the same shall he furnished 10 Cre lilor. If DetHor fails 10 pay the premium on any such insurance.
Credilor may do so fnr Dehlor's nCCl1unt, :.ddiny Ihe alllllullltherenflo Ihe delll s('cured hcreb)', I~htur hf'lCh)'IlSSi!lns 10 Creditor IIny
return oruneamed premiums which may he due upnn Caf\l:e-II.11inn uf an)' such pnlides for any leason wh.1lsoc"er and wn:Cls the insurers
h) pU)' CredHor any amounts 50 dur.:, Credilor i~ herehy appointed Dehlllr', allllmey.in.fn'lto endlllJie any drafl or ched.; which may he
payable tu deblor in ord~r 10 collt!C1 such return or unearned premiums or the ll('llC~eds of such insura.nl.'e: any bW3ncc of insuranct:
rrol.:e~ds remaining afler J1arm~nl in full of all amounts w:ur.:d h~rt:undeT sh.ul he paid 10 Dehtor.
6. Debtor will nOI p~mlit an)' o(lh~' ~(lIK.lS In b~ rellH}\'ed frullllh~ llll.'alion ~pL'dli!:d l1hm't' "llhoUllhc prior wrillen con.sent of
Creditllr, and "ill pemil Creditor In imf'l=ctlhL' gllod~ and ch~lllcls al an)' lime,
7. tA:blur "ill nol pcm\il an)' \\Iht:r ~L'curit)' i/lll.'n:stln alla~'h III any uf the 1Iullds: pcmlitlh~ SOlids In ht: I(','ied upon undt:r l1ny
leg a.! process; or pennil un)'lhing: 10 h\! done Ihal may impair tht: \'ruue nf any of the gllndsllnd chauch or the: securily intended 10 he
afforded by this A~ftl:menl.
. FOOD SERVICE EQUIPMENT. FUN FQQO SYSTEMS. ICE SYSTEMS. CHEMICAL SYSTEMS
8, Debtor will pay all cUlts nffiling and finandn[l,l:ontinuatiun nr lemllnl11lon statement with reJPC" to ,he ,ecurilY interest
cre31ed hy lhi. Agreement. CredilOr I. htrcb)' I1pptlillted n~hlMs allom~y.in.f,}'IIO do aU a::U and things which Creditor may deem
necenary 10 perfect Md \:ontillue pcrfel.:lI:d lhe securit)' inlercit created hy lhis Agreement and 10 protect the goods and chanels,
9, Dehlor will rrUll1ptly nUlify lhe Creditor of an)' ..hange in his re~idence ur oflhe loeition orlhe 800dJ and chatlclland
herehy certifies thallhe Dcblll(~ pre".:nt r~sidence il III the addres!. ~hLlwn abHV~,
la, If any of !la.id gouds and ..:hands shall tle injured Iolr dellnl)~d wilhout fault of Dcbtnr. such injury or dellNction shall. ill
the opllnn of the Creditor. constilute u ddauh ul1d~r this Agreemenl.
11. Octltor \l,iU, on demand, prll\ide additional collateral acceptable tu the C~dil()r,
I::!. lkbtor shall tx: in defauh under Ihis allfl:~menl on lhe haprening of any orthe follll\A,ing e\'cnlS or conditions:
(a) Default in the raymenl or P'=r1llnnllnce or::m)' llhlil'lllion. em'ennnl. or liabUit)' contained or referred 10 herein orin the note
attached herelo or uny lither nOle e\'idcnl;ing IIn)' !.u~h uhli~alinn. L"(I\'enant or Uahilit}',
(b) Falsity In MY mUlerial respect \l,hen mude or furnished to secured pliny by or on behll.1f of Debtor concerning any wDJTaJllY.
representatiun or stalem.:nt.
(c) Any Ion. theft. confh~alion. deslNctiun, ~UbSl31ltial damage, or damage or misuse or collateral: My sale or ~ncumbrance 10
or of any collaleral: noy lc\'y on. or s.:il11rC or atLlchmenl or collateral.
(d) Dealh. diuohllion. tennin3lion of uhlence. in~ol'..enl:)'. busin~n failur.:, llppoinlment ofa rcccl\'erorany plU'1 orthc:
propeny or, .L'aipnment for Ihe ~ncfit of creditors "yo or commencemenl of any proceeding under any hanlJuptcy orinsoh'ency
laws by or against Debtor or an)' g:uaranlor or sur:t}' for Debtor.
IlROVIDED. HOWEVER. Ih3t in case of default in the pllyment of said debt or any pan of fUluo: advances. expenditures or
Uahilities hertby secured. or in lhe due obser\'llnce or performance of My of Ihe olher wndilions or agrcemenll hereof, or in COliC any of
the warrnntics or IXblor herein cuntained shall prove 10 be fube or mideadlng. Creditor lOllY declare the unpaid balance of said debt and
allsuc:h nd\'ilnces. npenditures and liabilities immediately due and payable wilhout demand or notiCC:.llnd Creditor may declare the
unpaid bo.lllnce of said debllll1d ;ill such advances, npcnditure and Uo.bilitics immediately due and payable wilhout demand or nOlice. and
Creditor may pro<<ed to exercise o.ny one or man: ofthe riglllS or remediesllCcorded by the Unifonn Commercial Code elUlCled in
PeMsyl\lania on April 6. 11)~3. Dnd nn)' rights or remedies upon any judgmenl eOlered upon Ihe accompan)ing nole simultaneous.1y or
consecutively, and the choice of one or more rights 4nd n:medies shall not be conllNed 4S. wah'eror election bming other rights or
~medies. It is understood 3hd D$reed thai this Agreement h:u Oten made and enlertd into in punuanee lo said Code and shall be subject
to BlI of Ihe provisions thereof. llfld the Creditor ha~ alllhe righll and remedies accorded Ihc.rehy.
If any pro\ision of lhis Agreemenlshall ror any reuon be held to he invalid or unenforceable. such invalidity or unenfurceability
shall not affect any olher pN\ision hereof. but this Agreement shull be COl15lNed I\S if such invalid or unenrorceable provision has never
been contained herein. Upon the happeninj!: of any luch default. Debtor. upon demand by lhe Creditor. shall auemble the goods and
Challets and mw them Dva.iloble to the Creditor at a place reasonably convenient to both panies.
If Deblor is 10 acquire poods and chaneh \I,;th the proceeds or a loan secured hereby. lhen Deblor hereby authorius the'
Creditor to disburse lhe proceeds of said bOrTU\l,ing dif\"ctly to Ihe seller of goods and chattels antVor to the insurance agent or broker.
The rights and privilel'es of Credilor under this Allfeemenl shall inun: to the benefit of their. his. her. or ill hcin. legalees.
penonlll repre!oentath'es. lucce!.Sol'5 and ani!!ns. All Cl1\'en::mts. wllrranties and agreemenlS nfDcbtor contained in lhis Agreement an:
joint and 6e\'eral :md shall bind Ihdr. his. her or lIS personal represcntali\'e~, heirs. legatees. succeuorsnnd lUsigns.
/,rt
I%~
(SEAl)
.Deblor
(SEAl)
.Debtor
TI-IIS IS A COMMERCIAL NOTE AND NOT A CONSUMER TRANSACTION
JUDGMENT NOTE
Name CORn lIi1\0 1 Ill" ,
Address 1,51 North 2'"1 Slrl','l
Cnmn II i 1\. PA 170 II
$ 11) I (lOll nn
Due
On Demand
PClUlSylvnnia Nnvpmhr> r 4 t I C)94
The Undersigned promise(s) to pay to the order of UNITED RESTAURANT EQUIPMENT
INC, at 2980 Jefferson Street, Harrisburg, Penn~ylvania 17110
Th i rt v I'i v.. Thotlsnnd nl1d OO{I 00-------------------------------------_ Dollars
with interest at the rate of '0
received,
per cent per nnnwn, without defalcation, for value
The Undersigned hereby empowers any prothonotary, clerk or attorney of any court
of record within the United States or elsewhere to appear for the Undersigned and, with
or without declaration, to confess Judgment at any time or times against each, any or all
of the Undersigned and in favor of the holder hereof for the above swn plus Interest
thereon from the date hereof, with costs of suit and an attorney's commission of 15% for
collection; and we hereby agree 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 tho
aforesaid swn, and we volWltarlIy condemn same, end authorize the Prothonotary to enter
said volWltary condemnation upon the Writ of Execution. We further agreo that any
property, real, personal, or mixed may be sold throught a Writ of Execution and further
hereby waive and release all relief from any and all apprnfsements, stay or exemption
laws of any State now In force or which are passed hereafter.
We hereby verify that our combined annual income is In excess of $10,000,00. We
execute tills Note intentionally, Wlderstandingly and volWltarlIy, and we Intend to be
legally bOWld hereby,
WAIVER
.
IN E..'{ECUTING TIllS NOTE, WE UNDERSTAND TIlE TRANSACTION, AND
KNOWINGLY AND VOLUNTARILY WAIVE OUR RIGHTS TO CONTEST TIlE ENTRY OF
TIllS JUDGEMENT AGAINST US IN COURT, AND DO HEREBY CONSENT TO TIlE
ENTRY OF TIllS JUDGME:-1T BY CONFESSION, WE HEREBY WAIVE PROTEST,
DEMAND AND NOTICE OF NON-PAYMENT OF THIS NOTE,
Witness our hand and senls the day and year first above written,
(];f6
-d:. i:L
1
1&) (SEAL)
.(SEAL)
)-
".
'" '.....
.,...
.,..
J ,) ..,
~ '-
.....
'1 ~J
":I
l--~)
A ~
~ P
0-: ' ~ :i-
..)
.. , ~
~ ~
[
r-
~
~
=
.~~
'"'
.:;r
CO
:-
~.: >-
.. t ',~:
"
c......:. ..
," ,,'..-.
'on
-
...
_0
-=