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HomeMy WebLinkAbout95-03706 '~! H," ","~"'f'Y.AJ' ''i-_:''''';bt~>l,CJ''-- ';~:t1:~~b:'.: . <.'>.> iF :~ \ .---:-....- -,.,:., :. ......:....~.:-- JLc 'I \'. nol. (!.w...i. iL._ " GUARANTY W11IlRIIAB, LIl'l"l" B INCORPORATIlD (hereinafter called Borrower) desires to transact businsss with and to obtain credit from the PIlNNBYLVANIA STATIl BANK (hereinafter called Bank), and WIIERllAS, Bank is unwilling to extend or continue credit or any renewal thereof to Borrower without this Guaranty. NOW, TBIlRBFORB, in order to induce Bank to extend or continue credit to Borrower, and in coneideration of the premises and the sum of $1.00 and of other good and valuable consideration, the undersigned, aB surety, subject to the limitation hereinafter eet forth in paragraph 1, hereby absolutely and unconditionally guarantees to Bank prompt payment when due and at all times thereafter of any and all existing and future indebtedness and liability of every kind, nature and character (including all renewals, extensions and modifications thereof) from Borrower to Bank, howeoever and whensoever created or arising or evidenced or acquired. 1. The amount of the undersigned's liability hereunder shall be $76054.28 plus accrued interest. The undersigned agreee that the amount of Borrower's liabilities to Bank may from time to time exceed the said limit of the undersigned'e liability hereunder without in any way affecting the liability of the undersigned hereunder. If no specific sum is set forth hereof, the amount of the undereigned'e liability hereunder shall be unlimited, 2. This Guaranty is made and shall continue as to any and all such indebtednese and liability of Borrower to Bank incurred or arising prior to receipt by Bank of written notice of the termination hereof from the undersigned, without regard to collateral, or security, or guaranties, or other obligore, if any, or to the validity or effectiveness of any and all thereof, and any and all such collateral and security and guaranties and other obligors, if any may from time to time without notice to, or consent of the underoigned, be sold,released, surrendered, exchangsd, ssttled, compromised, waived, subordinated or modified, with or without consideration, or such terms or conditions as may be acceptable to Bank, without in any manner affecting or impairing the liability of the undersigned. It is agreed that the termination of this Guaranty, in the manner aforesaid, shall not relieve the undersigned from liability upon any indebtedness or liability.covered thereby then existing. . -. 3. It is agreed that the undersigned's liability hereunder is several and is independent of any other guaranties at any time in effect with respect to all or any part of the indebtedness of Borrower to Bank, and that the undersigned's liability hereunder may be enforced regardless of the existence of any such other guaranties. 4. The undersigned hereby waives all notices of any character whatsoever with respect to this Guaranty and Borrower's liabilities to Bank, including, but not limited to. notice of acceptance hereof, notice of creation, existence or acquisition of any liability hereby guaranteed, notice of adverse change in Borrower's financial condition or of any other fact affecting undersigned's risk hereunder, and notice of default. The undersigned further waives presentment, demand, protest, and notice thereof as to any instrument representing indebtedness covered by this Guaranty, as well as any right to require Bank to sue or otherwise enforce payment thereof. In addition, the undersigned waives the benefit of all laws now or hereafter in effect in any way limiting or restricting the liability of the undersigned hereunder and waives all defenses whatsoever to undersigned's liability hereunder other than payment. S. If any of Borrower's obligations to Bank are not duly performed, including the prompt payment when due of any amount payable thereunder, all Borrower's liabilities to Bank shall at Bank's option be deemed to be forthwith due and payable for the purposes of this Guaranty and the liability of the undersigned hereunder. _. ""'"' ,..." 6. In addition to all other liability of the undersigned hereunder and notwithstanding the limit, if any, set forth in paragraph 1 hereof, the undersigned aleo agrees to pay to Bank on demand all costs anu expenses (including reasonable attorneys' fees and legal expenses) which may be incurred in the enforcement of the Borrower's liabilities to Bank or the liability of the undersigned hereunder. 7. The undersigned hereby authorizes and empowers any Prothonotary, Clerk or Attorney of any Court of Record to appear for and confess judgment against the undersigned in favor of Bank, its successors or assigns, for the sum set forth in paragraph 1 hereof, with or without declaration filed, with interest and costs, release of error, without stay of execution and with 25\ added for collection feesl and the undersigned further authorizes the immediate issuing of an appropriate writ of execution upon which real or personal property maybe sold without delay as provided by law or the rules of civil procedure governing the enforcement of judgmentsl and the undersigned also waives the right of inquisition on any real estate that may be levied upon to collect the amount due under a judgment obtained by virtue hereof, and undersigned does hereby voluntarily condemn the same and hereby waives and releases all relief from any and all appraisements, stay, exemption or homestead laws of any state, now in force, or hereafter passed, and any right to except to, strike off, open or appeal from the judgment so entered I and if a true copy of this instrument shall be filed in any such action, it shall not be nscessary to file the original as a warrant of attorney, any rule of court to the contrary notwithstanding. No single exercise of the foregoing warrant and power to confess judgment shall be deemed to exhaust the power, but it shall continue undiminished and may be exercised from time to time as often as Bank shall elect, until all sums payable by the undersigned have been paid in full. 8. To secure all obligations of the undersignsd hereunder, Bank shall have a lien upon and security interest in (and may, without demand or notice of any kind, at any time and from time to time when any amount shall be due and payable by such undersigned hereunder, appropriate and apply toward the payment of such amount, in such order of application as Bank may elect) any and all balances, credits, deposits, accounts or monsys of or in the name of undersigned now or hereafter with Bank and any and all propsrty of every kind or description of or in the name of such undersigned now or hereafter, for any reason or purpose whstsoever, in the possession or control of Bank. 9. The liability of the undersigned hereundsr 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 Borrowsr) 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 there by lost, or (d) any delay in making demand on the undersigned for performance or payment of the undersigned's obligations hereunder. 10. If the undersigned consists of more than one person, such persons shall be jointly and sevsrally liable hereunder, This Guaranty shall inure to the benefit of Bank, its successors, assigns, endorsees and any person or persons, including any banking institution or institutions, to whom Bank may grant any interest in Borrower's liabilities to Bank 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 law of Pennsylvania. . , , . WITKBII the due execution hereot thie --.-i... day otftt<.- ?993. ~~ Sworn and e~b~ribed to betore me-\hie day ot u/f A.\ I (~\.. Iff ' 1993. Jnc1,^ 1'\11 4'V-O Il~ Li a . Morrow f1..u~r, Qllt:3l4-t~( t~ Nc.tary I c My comM BPion Expires. ( 1~~;....I:~~d r'.~,1 H :-;"."::~t~,VVP\:tC em",:' ;-..,)..;,rotvlf1:'t"lJ(.(JLJ _. ~~,_c,.:~_,:::,.:~~=:"-1f1,)6 1~ r"".:~i~n'~"I"';'.:',J""~~Ol'1d~ .~ ~;'y...n.. ,,-c.-~ .YV11<..sht.vt (f . , tt'__... ~ ~ ~ ~ {. ~. ? ~) t ~ fl- ." ~ "- ~ r -.J ~ .. I C " '" 'I <- c: ..... '" 0:> ~ Co N o{) v, . . . " :~ :.~ ,- ,..." .urn u., ... o (' t, -\ ~ t =.t.: ,.. , ~ \) 1,\ ~ C ... ~ '" V \ ~: ~i ~ .,1 - ol\ ...c. ~ . : ~ V " t d, r ., PA STATE BANK, : IN THE COURT OF COMMON PLEAS Plaintiff : CUMBERLAND COUNTY, PENNSYLVANIA , , vs. : Judgment in favor of Plaintiff for $76,054.28 , WILLIAM D, MORROW and : Entered to 1995.3706 Civil Term 1995 LINDA M. MORROW, Defendants : Entered ofrecord July II, 1995 LETIEROF ATIORNEYTOSATISFY JUDGMENT AND NOW, to wit, January '0 ,2000, PA State Bank, Plaintiff in the above judgment does appear and acknowledge that it this day has had and received of and from, J. Robert Morrow and Ernestine S. Morrow, the Defendants in the above judgment, full payment and satisfaction of the same, with interest and costs, and desires that satisfaction therefor shall be entered upon the records thereof. AND FURTHER, it does hereby authorize and empower the Prothonotary of said Court to appear for and in its name and stead to enter full satisfaction upon the records of said judgment, as fully and effectually, to all intents and purposes, as it could were it personally present in person to do so. And for so doing this shall be your sufficient warrant and authority. IN TESTIMONY WHEREOF, it has hereunto set its hand and seal this tp'*- day of January, 2000. Attest: PA STATE BANK ~u,~/ - Secretary By: ~,r\u,. P<a,ll,. VI" !)....""t...., (Title) " COMMONWEALTH OF PENNSYLVANIA : ss. COUNTY OF CUMBERLAND ,'~ ~ o the I" day of' nl y,\ l I ...9OY(\ before me, the subscriber, a ~~7i:( p. in C1 for said Cbunty and State, personally appeared fl.-1'iC'JI\...) of the said PA State Bank, who being duly sworn according to law, says the he/she was personally present at the execution of the within Letter of Attorney to SatisfY Judgment, and saw the common or corporate seal of said Corporation duly affixed thereto; that the seal so affixed thereto is the common or corporate seal of the said Corp~tion, that tile L~ter of Attorney. to SatisfY tdgment was duly sealed and delivered by (\.,-[(>\(\\1'\ \ (f', 1(1, as ~ec Ie.> rt r" of said Corporation, and as and for the act and deed of the said Corporation,' for the uses and purposes ptherein mentioned, and that ~ names O~is deponent as \J It' e rr P", I () P L, r and of , ::t-i:> \ (l \ f'I .l~ I Q as of the said Corporation, subscribed to this Letter of Attorney to SatisfY Judgment in attestation of its due execution and delivery are of their and each of their respective handwritings. f)jv 101){( G. 6{w Sworn and subscribed before me the day and year aforesaid. WITNESS my hand and official seal. My Commission Expires: HOTrUIAL SEAl. M!USSA C, IIAIR, _ I'IrWc Comp HIM Boro. 01 Co.. PA My Com"""'. E..pl... DIe. 3. 2001 f: '5 I'i1 ~~ ~ :;) ~ :<:: ;. 'l . 'l~~ - J";;,r,.., - "'7 r ~) ( , c.' ~ ""..- :s:: ;)i:-r:f I~ ~ :","('"J C;."" ~ en ~'".J w ~ Gv ~ 2 ,. I ,