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PROMISSORY NOTE
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Principal Loan Date Maturity Loan No
$150000.00 03-07-1994 06-15-1994 5002910-01
Rotoronces In tho shaded oroa oro lor Lender's use onl
Account Inltlala
5002910
Iicablhl 01 Ihls documanllo an arllcular loan or lIam.
Borrower: Charlo. R. Davia (SSN: 172-:16-1023)
Kalon S. Davia ISSN: 19B-:l&-4739)
57 SoUlh To"aco
WOlmloysburg, PA 17043
Lender: PENNSYLVANIA STATE BANK
2145 MARKET STREET
P. O. BOX 457
CAMP HILL, PA 17001-0487
Principal Amount: $150,000.00 Initial Rate: 7.500% Date of Note: March 7, 1994
PROMISE TO PAY. Charlo. R. Oavl. and Karen S. Davlo("Borrower") promise 10 pay 10 PENNSYLVANIA STATE BANK ("Lendel"), or order, In
10Wful monoy o'lho Un lied Slaloa a' Amellca, Ihe principal amount a' One Hundred Filly Thou send & 00/100 Dollala ($150,000.00), logolher
Wllh Inlerosl on Ihe unpaid principal balanco flam March 7, 1994, unlll paid In full.
PAYMENT. Borrower will pay Ihls loan on demand, or II no demand Is mado, In ono prlnclpsl payment a' $150,000.00 plua Inlelesl on Juno 15,
1994. This payment dUO June 15, 1994, will be 101 all prlnclpsl and acclued Inlelosl nol yol paid. In addlllon, Borrower Will pay logulal
monlhly paymenla 01 alloccrued unpaid Inle,e.1 due o. o'each paymenl dalo, beginning Ap'1l15, 1994, wllh oil subsequenllnlelesl paymenls
10 bo duo on Iho sema day 0' oach monlh oller Ihal. Inlerosl on Ihls Nolo Is compuled on a 365/365 slmplo Inlorosl besls: thai I., by oppl~ng Iho
rallo of Iho annuallnlorosl rolo ovor Iho numbol 01 daynln a yoar, mulllpliad by tho oulslandlng principal balanco, mulllplied by Ihe oclual numbor 01
dayn tho principal balanco Is oulstandlng. Borrower will pay Lendar al Lendor's oddross shown above or el such olhor place os Londer may designate
In wrlllng. Unloss olherwlse egreed or roqulred by appllcablo law, paymanls will bo appllod Ilmt 10 occruod unpaid inlorost, Ihon to principal, ond ony
romalnlng amounllo ony unpaid collecllon cosls and lalo charges.
VARIABLE INTEREST RATE. The Inlerost role on Ihls Nolo is subJocllo chonge Irom limo 10 lime basod on changes In on Index which is Ihe
Pennsylvonla Slole Bank's Baso Londlng Rale (lhe "Index"). Tho Index Is nol necossarlly Iho 'owest role chargod by Londer on lis loans and Is sol by
Londar In lis sole dlscrellon. IIlhe Indax becomos unavalloblo during Iho lorm ollhls loan, Lendor may doslgnalo 0 subslltute Index allor nollfylng
Borrower. Londer wllllall Borrower tho curronllndox role upon Borrower's roques!. Borrower underslands that Londor may make loans based on
olhor rotos os woll. Tho Inlerosl ralo chango will not occur more ollon Ihan oach Oay. Tho Index cu"enlly Is 6.500% per ennum. The Inlole.1 lale
to ba applied 10 Iho unpaid principal balsnce 01 Ihl. Nole will be al a rale of 1.000 pelcenlege point ovel Ihe Index, lesulllng In en Inlllal rale 01
7.500% per ennum. NOTICE: Under no clrcumstancos will tho Inlerest rolo on Ihls Nole bo moro Ihan Ihe maximum lalo allowed by opplicablo law.
PREPAYMENT. Borrower may pay wllhoul penally 011 or a porllon ollhe omounl owed earllor Ihan Ills duo. Early paymonls will nol, unless agreod 10
by Lender In wrlllng, relieve Borrowel 01 Borrowor's obligallon 10 conllnuo to make paymenls under Ihe paymonl schodulo. Ralher, Ihey Will reduce Ihe
principal balance due.
LATE CHARGE. 110 paymont I. 15 days or male lale, Borrowor will bo cherged 5.000% 01 Ihe logularly scheduled paymenl 01 $5.00, whlchevoI Is
grealel,
DEFAULT.. Borrower will be In deloullll any 01 Ihe lollowlng happens: (a) Borrower lalls 10 mako any paymont whon due. (b) Borrower breaks any
promise BorrowoI has made 10 Lender, or Borrower lalls 10 porlorm promplly 01 Ihe limo and shlclly In Ihe mannor provided In this Note or any
ogreemont rolaled to this Nota, or In any olher agreemenl or loan Borrower has wllh Londer. (c) Borrower dofaulls under ony loan, extension 01 credll,
security agreemenl, purchase or salos ogreomonl, or any olher ogreemenl, In lavor 01 any olhel croditor or person thai may malerlally allecl any of
Borrower's proporty or Borrower's ability 10 repay this Nolo or perlorm Borrowor's obllgallons under this Nole or any of Iho Relaled Documenls. (d) Any
represenlallon or stalement made or lurnlshed 10 Londor by Borrower or on Borrower's behall Is 'olse or misleading In any malorlol respecl. (e)
Borrower dIes or bocomes Insolvont, a receiver Is appointed lor any part of Borrower's property, Borrowsr makes on assIgnment for tho benefit of
creditors, or any proceodlng Is commonced ellhor by Borrowel or agalnsl Borrower undel any bankruplcy or Insolvency laws. (f) Any credilor hies to
lake ony of Borrower's property on or In which Lander has a lion or securlly Inlerest. This includas 0 garnlshmonl 01 any of Borrower's accounls wllh
Lender. (g) Any of Ihe ovenls described In Ihls de'aull secllon occurs wilh rospect to any guaranlor 0' Ihls Nole. (h) Lendel In good 'allh deems IIsol1
Insecure.
If any de'aulI, olher Ihan a dolaullln paymonl, Is curoble and II Borrower has not bean glvon a nollco 010 breoch ollho same provision 0' Ihls Nole
wllhln the preceding twolve (12) months, II may bo cured (ond no evonl 0' delaull will hove occurred) II Borrower, oller recolvlng wrlllen nollce Irom
Lender domandlng cure 01 such de'oulI: (a) cures the de'aulI wllhln "'Ieen (15) days; or (b) IIlhe cure loqulre. moro Ihon filleon (15) days,
Immedlalely Inillales sleps which Lendor doorns In Londe,'s sole dlscrollon 10 bo sufficient to cure Iha def.ult and Ihoroallor conllnues ond compleles all
reasonable and necessary stops sulllclenllo produce compllonce as soon os reosonably procllcal.
LENDER'S RIGHTS. Upon defaull, Lender may declare Iha enlira unpaid principal balanco on Ihls Note and all accrued unpeld Inleresllmmedlalely
dua, wilhout nollce. and then Borrower will pay Ihal amount. Londer may hlro or pay someona else 10 holp collect Ihls Note II Borrowor doos nol pay.
Borrower also will pay Lender thai amount. This Includes, subjecl loony limits under applicable law, Londer's allorneys' loes and Lender's legal
expenses whethor or nol Ihero Is a lawsuil, Including allorneys' loos and legal exponses '0' bankruplcy proceodlngs (Including ollorls 10 modify or
vacata any aulomallc slaf or Injuncllon), appeals, and ony anllclpalod posl-judgmenl collection services. If not prohibllod by appllcoble law, Borrowel
also will pay any court cosls,ln addillon 10 all olhar sums p,ovldod by law. IIjudgmenlls onlered In connocllon wllh Ihls Nole, Intorest will conllnue 10
accrue on this Note ellor judgmenl at Iho Inleresl ralo applicable to Ihls Nolo 01 Iho lime judgmont Is enlered. Thla Nole ha. been delivered to
Lender and eccepled by Lender In the Commonwealfh 01 Pennsylvania. If thele Is a lawsulI, BorrowoI agrees upon Lendel's reque.t to submll
to the jurlsdlcllon 01 Ihe coUrls 01 CUMBERLAND Counly, Ihe Commonweallh 0' Pennsylvenla. Thl. Nole shall be governod by and consllued
In accordance Wllh Ihe laws 01 Ihe Commonweallh 01 Pennsylvania.
CONFESSION OF JUDGMENT, Borrowar hereby Irrovocably aulhorlzes ond empowors any ollornoy or Iho Prolhonolary or Clerk 01 any Courlln tho
Commonwoallh 0' Pennsylvania, or elsewhero, 10 oppoar al any limo 'or Borrower allor 0 dofaull undar Ihls Nole, and wilh or wllhoul complalnl "'od, as
0' any torm, conless 01 onlar judgment ogalnst Borrowor 'or Iho enllre principal balance 01 this Nolo and 011 accrued Inlerost, logothor wllh cosls of sulI,
and an allorney's commission of len perconl (10%) ollho unpaid principal balance and occruod Inlorost lor cOllocllon, but In ony event nolloss than
Five Hundred Oollors ($500); and lor so doing, Ihls Nolo or 0 copy ollhls Nole vorlllod by ollldavit shall be sulllclanl warranl. The aulhorlly granlad In
Ihls Nolo 10 conless Judgmenl against Borrower shall nol bo exhauslod by any oxerclso ollhal aulhorily, bul shall conllnua 'rom limo to lima and at all
limes unlll payment In lull of all omounts duo under Ihls Nolo.
DISHONORED ITEM FEE. Borrower will pay a 'eo to Lendor of $20.00 II Borrower makos a paymenl on Borrower's loan and Ihe chock or
preauthorlzed cherge wllh which Borrower pays Is lalor dishonored.
RIGHT OF SETOFF. Borrowor granls to Londor a conhaclual possossory socurlly Inlereslln, and hereby assigns, conveys, dolivers, pladgos, and
transfors 10 londor all Borrower's righi, lilla nnd Intorot.t In and la, Borrowor's accounts with Londor (whether checkIng, sBvlngs, or somo other
account), Including wllhoulllmilallon all accounls hold jolnlly wllh somoono olso andall occounls Borrower may opon In Ihe lulure, oxcludlng howaver
all IRA, Koogh, and trusl accounls. Borrowor aulhorlzos Londar, 10 Iho exlanl parmlllod by applicablo law, 10 chargo or sololl all sums owing on Ihls
Nolo agalnsl any and all such accounls.
COLLATERAL. Till. Nolo Is sacurod by, In oddlllon 10 any olhor o.ollolornl, a Morlgaga daled March 7, 1994, 10 Londor on real p,oporly localad In
Cumborland County, Commonwealth 01 Ponnsylvania, 011 tho torm!; nnd condlhons 01 which mo haroby Incorporatod and modo 0 pori ollhls Nolo.
GENERAL PROVISIONS. This Nolo Is payable on domond. Tho Inclusion 01 spociflC dofault proviSions or rights of Londer ohall nol proclude Londor'5
right 10 doclaro paymont 01 this Nato on 115 demond. Londor may dolay or largo on forcing any 01 its rig his or romedlDS undor this Nolo wilhoullosing
them. Borrower and Dny othor purson who signs, guaranloos or endorses Ihis Nole, to lho oxlont allowod by law, walvo presentmont, demand for
paymont, P(otost and notico 01 dishonor. Upon any chango In tho torms 01 this Nolo, nnd unless othorwlse expressly stated In writing, no party who
signs this Nolo, whether as maker, guaranlor, accommodation makar or endorser, sholl bo reloased Irom liability. All such partios aorca thatlandar
may reneW or mclend (repeatedly and lor any length of time) this loon, or reloaso any party or guaranlor or collateral; or Impair, foil to rooliza upon or
porloct londor's security Interostln tho collolorutj and tako any other uclion doomed necossary by lender without tho consont 01 or nolico 10 onyono.
All such perlios also agroa Ihal Londer may modify Ihls loan wllhoullho consenl 01 or nollco 10 onyono olher Ihan Iho parly wllh whom Iho modlllcallon
Is modo. Tho obligations undor Ihis Nato ore JoInt and soveral. If any portIon ollhis Nolo Is for any reDson dolor mined 10 be unenforcoable, II will nol
offecltho onlorcoablllty 01 any othor prOVISions of this Nolo.
03-07.1994
LOlln Nil 5002910-01
PROMISSORY NOTE
(Conllnued)
PlIge 2
PRIOR TO SIGNING THIS NGTE, EACH BORRGWER READ AND UNDERSTOOD ALL THE PROVISIONS OF THIS NOTE, INClUDING THE
VARiABlE INTEREST RATE PROVISIONS AND THE NOTICE TO COSIGNER SET FORTH BElOW, EACH BORROWER AGREES TO THE
TERMS OF THE NOTE ANO ACKNOWLEDGES RECEIPT OF A COMPLETED COPY OF THE NOTE.
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NOTICE TO COSIGNER
You ara baing asked to guaranlee Ihl. debt. Think carefully belore you do. IIlha borrower doesn't pay Iha debt, you will hava to. Ba aure
you can allold to pay II you havalo, and Ihat you want to accepllhl. re.pon.lblllly.
You may havalo pay up to Iha lull amount oltha dabtlltha borrower dolS not pay. You may also havato pay lala lees or collacllon co.I.,
which Increase Ihl. amounl.
Tha landtr can collact Ihl. debl 110m you wllhoulllrst Irving 10 collectlrom Iha borrower. Tha lender can use tha sama collecllon malhod.
agaln.1 you Ihal can ba used agalnatlha borrower, .uch es .ulng you, garnishing youI wages, elc. IIlhl. dabll. ever In delaull, Ihallact may
become a part 01 YOUR credll record.
Thl. nollca I. nollha conlrectthat makes you lIabl,'or the debl.
Varllbla Aile. fangl' PlY.
LASER PRO, nag. u.s. Poll.' T.M, Olf.. V.r, 3.17 Ie) tSS4 CFI ProS,rvlcll.lnc. AlIrlghll nu,vtd.IPA..D20 DAVISCK.lN)
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POWER OF ATTORNEY AUTHORIZING SATISFACTION OF JUDGMENT
IN THE COURT OF
COMMON PLEAS OF CUMBERLAND COUNTY. PENNSYLVANIA
PENNSYLVANIA STATE BANK
No. 95-815 CIVIL
Debt NUm
$150,000.00
Term 19
vs.
Entered FEBRUARY 14, 1995
CHARLES R. DAVIS
KAREN S. DAVIS
:
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Having received from
QlARLES R. DAVIS AND KAREN S. DAVIS
the fuil amount of the debt, interest and costs of the above
,. .;..~
judgment
WE
do hereby authorize, empower and direct the
Prothonotary of Cumberland County to enter sa~isfaction of the same
on the records.
Witness
hand and seal this
ss:
17th Ifa~ of \7st A.D:
1Al,. \~ ~
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President & CEO
NOTARIAL SEAL
CAROL A. BUCKWALTER, Nolary Public
Lower Paxton Twp, Dauphin Co,
My CommIssion Explros Aug. 24. 1998
19 95
Attest
County of Cumberland
Before me a Notary Public duly commissioned and sworn,
personally came the above named Inlliam V. Freeman being the
identical person, or authorized Officer of Company or Corporation
named as Plaintiff in the above case, who in due form of law
acknowledged the above Power of Attorney to be his act and
deed, and to the end that the same might be recorded as such.
Witness my hand and seal this J? n/ day.of,hlb[;U,:';r A.D. 19 y:r
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COMMON PLEAS OF CUMBERLAND COUNTY
Pennsylvania state Bank
vs.
Charles R. Davis and
Karen S. Davis
.
.
Confession of Judgment
No. 95-815 civil Term
.
.
To: Prothonotary of Cumberland County
PRAECIPE TO WITHDRAW JUDGMENT
WITHOUT PREJUDICE
Pennsylvania State Bank, through its attorneys, Shumaker
Williams, P.C. hereby requests that the judgment confessed on
February 14, 1995 against defendants, Charles R. Davis and Karen S.
Davis for $150,000 on the Promissory Note dated March 7, 1994 and
payable to the order of Pennsylvania state Bank (the "Note") and
bearing Judgment No. 95-815 be withdrawn without prejudice to
Plaintiff's right to confess judgment on the Note at a later time
and otherwise enforce the Note.
rald P.
D #51707
SHUMAKER WILLIAMS,
P. O. 88
Harrisburg, PA 17108
(717) 763-1121