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HomeMy WebLinkAbout95-03837 4, ,. J' -- ..;..--::-~-- ..... 7~. p'. 33-'./ C,.Wd 'T~ .'-' -~ GUARAIITY WHEREAS, Shenk Athletic Equipment Company, 1nc" (hereinafter called Borrower) desires to transact business with and to obtain credit from the penneylvania State Bank (hereinafter called Bank) 1 and WHEREAS, Bank is unwilling to elltend or continue credit on any renewal thereof to Borrower without this Guaranty. NOW, THEREFORE, in order to induce Bank to elltend or continue credit to Borrower,and in consideration of the premises and the sum of $1,00 and of other good and valuable consideration, the undersigned, as surety, subject to the limitation hereinafter set forth in paragraph 1, hereby absolutely and unconditionally guarantees to Bank prompt payment when due and at all times thereafter of any and all ellisting and future indebtedness and liability of every kind, nature and character (including all renewals, elltensions and modificatione thereof) from Borrower to Bank, however and whensoever created or arising or evidenced or acquired, 1. The amount of undersigned's liability hereunder shall be $385,171.00 plus accrued interest. The undersigned agrees that the amount of Borrower's liabilities to Bank may from time to time exceed the said limit of the undersigned's liability hereunder without in any way affecting the liability of the undersigned hereunder. If no spscific sum is set forth hersof, the amount of the undersigned's liability hereunder shall be limited. 2. This Guaranty is made and shall continue as to any and all such indsbtedness and liability of Borrower to &ank 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 guarantees, or other obligors, 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 undsrsigned, be sold, released, surrendered, exchanged, aettled, 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 therebython ellieting. 3. It is agreed that the undersigned'S liability hereunder is several and is independent of any other guarantees 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 ellistenCe 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 affbcting undersigned'S risk hereund~rl 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 other right to require Bank to sue or otherwise enforce payment thereof, In addition, the undersigned waives the benefit of all laws no.. 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. 5. If any of the 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 cndersigned 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 alBo agrees to pay to Bank on demand all costs and 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 fees I and the undersigned further authorizes the immediate issuing of an appropriate writ of execution upon which real or personal property may be sold without delay as provided by law or the rulss of civil procedure governing the enforcsment 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 obtainsd by virtue hereof, and undersigned does hereby voluntarily condsmn the same and hereby waives and releases all relief from any and all appraisementa, stay, exemption or homestead laws of any state, now 1n 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 necessary 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. B, To secure all obligations of the undersigned hereunder, Bank shall have a lien upon and security interest in (and may, without dsmand 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 moneys of or in the name of undersigned now or hereafter with Bank and any and all property of every kind or description of or in the name of such undersigned now or hereafter, for any reason or purpose whatsoever, in the possession or control of Bank, 9. 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 Borrower) or in any property, (b) the invalidity of any such rights which may be attempted to be obtained, lc) any delay in enforcing or failure to enforce 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, 10, If the undersigned consists of more than one person, such persons shall be jointly and severally 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. .-- Witness the due execution hereof this 07~fr.{ day of fV\~,,--, 1995 Sworn and su~scribed to before me this ~day of Y'fuJ,<J;.:.., 1995 ._':.~~~~~c--- - NOrAftlAt SEAL PEGGY J, ELDER, NolaJy Public Carm Hili BOlO, Cumberland Counly My CommIssion ExpIres Ocl. 20, 1997 ~ M C ae G. e ILldAJJ R .~-<_ Dane R, Shenk Address. 4 W. RPrl Gnlrl Cirr.lp Camp Hill, PR. 17011 r ~ ~.._. ~ '-- <= ~ ;::.\;, ~~{ tt r I. t~ ~ ~ -~'tt ... <:> ... <.0 tD c ^ ..~ c.::. .''l ;e-... ,. = ,..- - .... . c..o <.r1 I::l -<: "'J ~ ...:.. . -.. ..., . ..r. u, ~ '- " " "\, ,. , ~ '" ':\ (,. ~1 U. -v ., ... .. 0,,( ~\ ...) ~ e ~ t'~ . r~ L, ~ , . . , " PENNSYLVANIA STATE BANK, Plaintiff IN THE COURT OF COMMON PLEAS OF CUMBERLAND COUNTY, PENNSYLVANIA V, NO. 1995-3837 MICHAEL G, SHENK and DIANE R, SHENK, Defendants CIVIL ACTION - LAW RELEASE OF JUDGMENT LIEN WHEREAS, the Plaintiff has previously entered judgment against the Defendants in this matter in the original amount of $385,171.00 ("Judgment"), which Judgment by law binds all of the real estate of the Defendants situate in Cumberland County, Pennsylvania, for the payment of the Judgment. AND, WHEREAS, the Defendant, Michael G. Shenk, at the time the Plaintiff obtained the Judgment, was seized and possessed of the real estate and the appurtenances thereunto belonging ("Premises") more particularly bounded and described in Schedule A which is attached hereto and made a part hereof by reference. KNOW ALL MEN BY THESE PRESENTS that the Plaintiff, at the instance and request of the Defendants, and in consideration of the sum of one ($1,00) Dollar in hand well and truly paid by the Defendants, at the time of execution hereof, receipt whereof is hereby acknowledged, and intending to be legally bound hereby, does, for itself, its successors and assigns, cOVenant, promise, and agree with the Defendants, their heirs, administrators, executors, and assigns, that after the execution of these presents, the Plaintiff will not (i) attach or levy upon, sell or dispose of, claim or demand the Premises, or any part of them, as a result of the Judgment or (ii) assert or claim any interest or estate whatsoever therein as a result of the Judgment to the end that the Defendants, their heirs, administrators, executors, and assigns, shall and may hereafter hold, own, and possess the Premises free and clear of and from the Judgment and the lien thereof; PROVIDED, HOWEVER, that nothing herein contained shall c: \LWORK\REAl.\m:l2998D. WPO ,........ , invalidate the lien, effect or security of the Judgment upon any other real estate of the Defendants, IN WITNESS WHEREOF, the Plaintiff has caused this Release to be executed by its duly authorized representative the day and year first above written, WITNESS/ATTEST: .~~~~/ Title: PENNSYLVANIA STATE BANK :g Name: Title:E . CI\LWORK\RBAL\012299BD.NPD . 2 - ;;."._~. SCHEDULE A ALL THAT CERTAIN piece or parcel of land, with improvements thereon erected, situate in the Borough of Lemoyne, Cumberland County, Pennsylvania, more particularly bounded and described as follows: BEGINNING at a point on the eastern line of South Third Street, formerly Rossmoyne Street, a distance of eighty (80) feet north of the northeast corner of said South Third Street and Bosler Avenue; thence in a northerly direction along the eastern line of South Third Street, a distance of thirty-seven (37) feet to a point on line of land now or formerly of Walter H. Shaull; thence along said lands in an easterly direction parallel with Bosler Avenue, a distance of one hundred ten (110) feet to the western line of a twenty (20) feet wide alley; thence along said alley in a southerly direction, a distance of thirty. seven (37) feet to a point on line of lands formerly of the Estate of A. A. Thumma; and thence along said lands in westerly direction, a distance of one hundred ten (110) feet to a point, the place of beginning. HAVING THEREON ERECTED a one story concrete block building known and numbered as 46 South Third Street Lemoyne, Pennsylvania. BEING a portion of an unnumbered lot or tract of land in Block B, Plan No, 1 of Riverton, which Plan is recorded in the Office of the Recorder of Deeds of Cumberland County, Pennsylvania, in Dead Book J, Volume 4, Page 40 and being part of the same premises described in the deed of the Sheriff of Cumberland County Pennsylvania, to Jams F. Grandon, dated May 5, 1933, and recorded in the aforesaid Office in Sheriff's Deed Book 2, Page 26l. BEING the same premi.ses which Carl R. Richard and Connie J.H. Richard, his wife, by their deed dated March 2, 1987, and recorded in the Office of the Recorder of Deeds in and for Cumberland County, Pennsylvania, in Deed Book N, Volume 32, Page 171, granted and conveyed unto Michael G, Shenk. C:\LWORk\REAL\0122998D.WPD . eo i.~ Ul'..' C I ~ 1'-:' Ci, r~'. . u:~-' i' .. C' -- b-: ~ . , . -i ~ ~ ro' c: ":)- - :', ~ ~ ~ .~ ~~ . ~ r.- . ~..... ,I. . ..... x. , ;:*. ~ a1 . "---J:: '\c) cJ- "-i () '.J .. ~ ~.: ,::-., "': u.. ....; "''' (;.'\ L:H~ . ..--....--....-.........-............-.... ..-.....- )udg",.". ill 1.1\or 01 I'/.i"til/ On .__.................. 385,171. 00 ................................ lor $........ ' 95-3837 CIVIL . No. ........ .............. 1.nn, 19...... JULy 19 95 En..r.d ................_................. 19...... .P.FJ.IN.~n.~~.I.~. ~.'I)y!~.~~ ....... ....~ .'.h... ..J" ~ III Il.c Court of CO/IJI/JOII l'leas of CU/lJlJcrJalld COlllIl)', l'clIlls)'h'allia \'5. NICHAEI. G, SHENK ............-.-...-......--...-.....-.....--..----.... DIANE R. SHENK ..........................................~.f'...... ....---...---.--------....-----..---....----..------..--..- .------........-------........---..--------.-----..----..----- hm!!!~!!_X~.T,\.!'I:~~.~.... h. "hh.. "hh .....h..h..h....h.h..h........h.h.... '..,.. " ., ,,'",. M~,.., '" "~" '"" ".....,,"~ '" nlEY ," '"' h.., .'" ". _.... ". MICHAEl. G, SHENK AND DIANE R. SHENK I.." h'hh. hh. hh hhh h h. h. hhhhh.. ......h ........ h.. .h....h.hh...hhhhhhhh..... ,,, ,,' ...", ,. ... ,w" J.'~"", ,," ...~"" ". '",,,,,., . ,', .''', ,"", "",," '"" "", .". <0,,,. ." ...i.l.ction .hertfor. '/;.11 be en'tred upon tl,C record. tllCrtof. And fur.her, WE . CURTIS R. LONG do htreby .urhome .nd empolver ............................... ...................... -----......--......------- rh.Prothonot.I}' ot ,.id Court, '0 'ppear ..............................._..._...__..._. '""" OOR - '" "., · '""d,,, ..,".... ~.. .. """ ., .... J,'~'"'" "'" .". '""''''''' . "' "~. ,,' ......~. WE ,..,~.. WE ~"'''''' ".,."" ~_ ." .. ^'" '... ,,,.. .,...." )'Our sufficient warrant oC authority. I. ,.....J ...."., WE h". "'"... .., ~, ..... .... ,... ., ....!'!!!.. h h.. h.... h"h h"h h ,,' · hh.-1\l!,Yhhh.......hh..hhhh...hh.., AD. '~ "-"Ex'Eel; lijE'-iji~'PRESn5tNr"" is,.,) ::::'::~::,,} C2~;=~~.~ :::' ~-'" ."...... ..... .', .. ......." 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