HomeMy WebLinkAbout02-3579
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TO: Cumberland Valley Cooperative Association
908 Mt. Rock Road, P.O. Box 350
Shippensburg, PA 17257
RE: Fred W. Widders
702 Pine Road
Carlisle, Pa. 17013
Demand Note in the amount of $ 58,182.87
Dated July 26, 2002
The Undersigned hereby certifies in connection with the loan
above referred to secured by a Demand Note containing a confession of
judgement authorizing any attorney or prothonotary of any court of
record in Pennsylvania or elsewhere to confess judgment against the
Undersigned: That the loan for which said Note was given is not a
consumer loan; that the income of the Undersigned (conjugal income if
both spouses executed the note) is Ten Thousand ($10,000) Dollars or
more; that it was orally explained and fully understood by the
Undersigned that the execution of a Demand Note containing a
confession of judgement clause was a waiver of the right to have a
prejudgment notice and hearing, the right to have the burden of
proving default on Cumberland Valley Cooperative Association, the
Creditor, and the right to avoid expenses attendant upon opening or
striking a confessed judgement 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 issued on a judgement entered on said confession
against their property.
The Undersigned further certifies that
understood that they could have an attorney
Note and any other documents in connection
execution.
they were advised and
examine the said Demand
with the loan prior to
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COMMONWEALTH OF PENNSYLVANIA:
COUNTY OF Yf'<lv1khh
F~ (,I), WiJ...!e.....,S
law, deposes and says that the
certification are true and correct.
SS
being duly sworn according to
facts set Iorth in the above
Sworn to 9nd sUbscriQe~ before me,
this .;zbLn day~ 20102
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MERLE D. !fAlI!lla IIIUl
\SLTH,\MPTON lWl! .... ONTy
:,IV COMMISSION Eitii MIl. I Oc :
$58,182.87
Shippensburg, Pennsylvania
July 26,2002
In installments as hereinafter stated, for value received,
I/we, promise to pay to Cumberland Valley Cooperative
Association, 908 Mt Rock Road, P.O. Box 350, Shippensburg,
Pennsylvania, the sum of $58,182.87,with interest on the unpaid
principal at the rate of 12.0 percent per annum from date hereof
until paid in full. Said principal sum and interest shall be
payable in equal successive monthly installments of $2,000.00,
each commencing on August 26, 2002,and continuing until July 26,
2005, at which time any unpaid balance of principal hereof and
all interest accrued thereon shall be due and payable in full.
All payments shall first be applied to interest due, with the
balance to be applied to principal.
Upon default in payment of any such installments or of
interest when due, or upon failure of the maker to pay for each
purchase from Cumberland Valley Cooperative Association before
making another purchase, the whole of the principal sum then
remaining unpaid and all interest accrued thereon, shall, at the
option of the holder hereof, become immediately due and payable,
without demand notice.
And further, I/We do hereby authorize and empower any
attorney of any court of record of Pennsylvania or elsewhere to
appear for and to enter judgement against us, in favor of any
holder of the Note for the above sum with costs of suit, release
of errors, without stay of execution, and with fifteen (15%)
added as a reasonable attorney's fee, and I/We do hereby waive
and release all benefit and relief from any and all
appraisement, stay or exemption Laws of any state not in force
or hereafter to be passed.
WITNESS:
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In the ourt of Common Pleas of
Cum be land County, Pennsylvania
VS,
No. 1) -
-15
Civi1.1I1 2$2-
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To
Prothonotary
19
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PRAECIPE
Filed
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, Atty.