HomeMy WebLinkAbout95-06592
Court of Common Pleas
Cumbo Co.
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No.
Civil Term
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vs. Plaintiff
CARLISLE INN JOINT VENTURE,
_......~.~.~~:nr..._--_.---
~.D. Ol. nULe.a., \,10".,.,
Robert G. Shaftoe,
Kenneth Rubinstefh
and Stanley Cohen,
fa 1M Cou" 01 CL AD PIal 01
CumbaIucI CoalY, PCIUIIY~
H,). ..s.s,..&SU2....__________.__ CiviL
19.__...
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nA(ggdDPtA
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$150,000.00
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Dear Sir: Please vacate the confessed judgment in the above captioned matter without
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prejudice to the Plaintiff for any future refiling ~Id .-
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To
Lawrence Welker
Prolhonotary
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,.sUllan J. Ot to; - _. Micm.y (or PJaillllff.
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PRAECIPE
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Carlisle Inn Joint Venture
K.B.S. Motel Corp., Robert G. Shaftoc
0.1>10< Kenneth Rubinstein & Stanley Cohen ol
fOR VALUE RECEIVED ANO INTENDING TO BE LEGAllY BOUND HEREBY, the person or persons who sign as debtor below (each jointly and severally liable if
more than one person and hereinafter relerred 10 as "Debtor"), promises to pay 10 the order of ("Lender")
FARMERS TRUST COMPANY, 1 Vlest High Streel, P. O. Box 220, Carlisle, Pa, 17013
#- , $"0, OOU,O II
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PROMISSORY NOTE loon'
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O.IN
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1245 Harrisburg Pike, Carlisle, PA 17013
at any of lender's branch offices,
the Principal sum of One Hundred Fifty Thousand & 00/100---------------------------------------_ Oollars
in lawful money 01 the Uniled States, to be paid as follows:
In 4 equal insta1lrrents of $3,355.64 each, cx:mrencing on the 2nd dW of March , l'l'll,
and continuing on the 2nd day of each month thereafter, then in 24 equal installments
of $6,728.86, cx:mrPnninl) nn the 2nd d"lY c,:: July' 1 "91, and continuing on the 2nd day
of each m::lnth thereafter.
Interest from the date 01 this Note shall accrue on the unpaid Principal balance hereol at the rale 01
12.25% oer annum.
THE PROVISIONS ON THE REVERSE SIDE ARE PART Of THIS NOTE.
the day and year first above wrillen and has hereunto set Oeblor's hand and seal.
ICORMRA1IlIfl 00 PARINERSHIP OEBlOOI51 SIGN BElOW!
Carlisle I oint enture
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K.B.S.
and shall be payable I1'nnt:h 1 y
ItCUlln INTlllIT: As ",.nly 101 !he _llIll1yment ..,lid."", dlllol an,mounbdlll .ndelthis Note,
includlnl.ny reMw,ls. edensiols .OO/or mod.fiCIbons thefeof.locethef with aU other ellSbnllnd lutuf.
~lblllbeS .nd obIlpbons 01 Oet*lr. Of any 01 thtm.lo ltnder whether .bsoIute Of contJnaent. at any "'tur.
"h.tsoeYef and outo! .~Iltvtf tr.macbonslfisinl(hefe.naftefcolledJvlty relerred Ion Ule"1.ilbllrtles1."
Iddltion to Iny 'lther ~Ullty Ilreement or docurntnt &yaminl Lender Iny fIlhb in any of Obliao(s robl'P".
as used herem, wi include Debtor Ind all other penons kilN. elthef absolutely or contrnttnttY, on the
lllblhtleS, Inclu(hnl endorwn, wrebn and auarantorsl PfOP!rty tor the purpose of secunnl the liablllba,
Obllp Ickno.ledces lender's rilhtofsel-off Ind lurthtf hereby lIantstoLender alien Ind seculltyllllerestin
Ind to III property ofObbaor. or Inyot them. whieh allnybrntltnder shaI havein rbpossesslCln.or whlchisin
tnn$lt 10 It.lncludlnlwlthout hmrtlbon .n, balance or wr. beIonPJfl11D otJIiP. or an, 01 them. 01 any
deposit. Ilfncy. trust. 6CfOtfor other Kcounlor accounts with lender and Inyother lmounts .hich mIIy be
owlf1llrom btne to time by Lender to ObblOl'. or an, of them. Slid lien Ind secunty II\ternl shill be
independent 01 lender's flaM 01 set-ott. .hiett. it elercised. WI be deemed Iooccur It thlI bme lender lint
restncts ICCess 01 Obbp to property '"lender's posseulOIl. IItfIou&tl such set-off mly be enttred upon
Lender's books Ind records It I liter lime.
o II checked, Debtot lareel tNt this Note is a renewal of the Promissory Note dlted
.19_, and that. whethef or not Idddionll funds are advlnced h<<rw""
thIS Note IS not Intended 10 creal. a totalty new deblll Lender wn P'en' purchase rnonry or 0Iher security
Inlerest In connection with the prior Promissory Hote, tbt security interest shall be rrblftfd by Ltndef 1ft
connectlOn.lth this Note.
UNCONOIIIONAlllAlllll1: O~'''''I''~loty WX be .ncondltionl!'nd .rthout ,,,,,dlo',," ..~~ 01 any
other OblllOf.lnd shJn not bea"ecIed by an, indullfflCl,el1ensionofbml. rtf'Iha~ WaMI or rnodItcabonof
IhlS Nole, or ItIe relelW. subsbMJon Ind/or addltlonofcollltralleCUnty IortMHote. ObItIorconwnbtolll'
and .11 ..tensIOns of tllne. rene..1s, .Iiven or modiliCIbons. as well.. 10 the rtlelSl,substltubOn or Iddlbon
01 Obhps Ind/or coIIIterll security. WIthout nobCIlD ObIIp and wrthout .ttecbnl Obhp's kltJMr
herwnder or Undff the Lllblllbes.
Thl$ Nole IS entitled 10 the beM'flb of .n, loin Iveernenl{sJ.surety and/or ruaranty I&yeemenlhl. wcunty
.cretmtnllsl, mortPlflsl. ISSftnllltn!lsJ. Ind/or other such loin docullltnts lrelerred to IS the "lOIn
Documents'lruued m conntcbOn .lth the lilblllbes. whtihef eltcuted pt'mousIy 10 or concunentfy WIth, or
to tit tlKuled wbsequent 10. IhrsHote.Ind .hieh ml, beamended,modIfltd. renewed orsubsUuted wrthout
Iffectlnl m Iny .ay lhe valdly or enlorcublllty of this Note
(vUlTS OF OUAUlT: Elich of the tonowinl shIll be In "[went 01 Delault" hertundtr.UI lhe nonPlyment
..htn dut, or 11 thIS IS I dtmlnd oblfptlClft. upon demand, of In, lmount PI,lbIt under IhlS Note or olin,
lmounl .hen due undef Of on Iny ollhe lilblbbes, or the flllurl of 1ft, OtlblOllo obwrYt or perform In,
ICfefment ollny nalure .halsoever With lender, inc:ludlnL but not bnuted lo.lhose conllmed in the lOIn
Documents; 121 11 Iny OblllOt' becomes ll'lsotvent or mikes In Wilnmtnllol' the benefit of crechtorl, or It an,
peMlOn IS IlItd by or Ilalnst .n, Oblraor under Iny pt'0flSI0fl oIan,stlleor feder.llI. or wtut.allellnl"'at
such ObhCOr rs InSO/Yent or unlbte 10 PI' debts IS they mlture or under In, prOY$Ofl ollhe rederal
Blnkruptey Code; III I'" Potry 01 any iudplflll Ipinsllny Obhp or In, at ()bI.IOI', prOJlPffr .hieh '''''''M
unSlbslled tor IllIetn 1151 days: 141 the ISSUlftl ol.ny IlIJehment.1eYr Of IlInishrntnllpnsllltJ property 01
In, Obllaor; 1511h. occurrence olIn, substlnbll chlnp in lhe IlnllIClIt condition ollny ObllJOl ..hlCh. in the
sole, relSOfllble rood tilth ludamenl oIlender IS mltef'llly IdvtrK I6lthtU'rollllorsubstlnbally an 01 the
IUttS. or chlnp In ownmhrp. or the dlSSOlutlon.liquidlbon. mtrlfl, consoIidIbon or reorpOllabOn of an,
Obll&Or ..hICh IS I corporlt!Onor partnenhi", WIthouttheelpress pIIOIwrrttenconwnl oIltnder. m thede'th.
lflCIrcer.llOIlOf Idludl(.tlClftoflepl~ofanyObhlDf.hoISINhrralpenort(8llllnyinlorlftllll)l'l
Of Sllnllure IUfnlShed to ltnder by In, 0bIr1Ol' II.n, time In nrInfCtlOfl WIth Iny of the blbllrbn, or in
connKllOn ..rth Iny IUII.nty or surety lll'etmenllppllClblelolny oItheliabhtlft, rs Ilheor Inc:orred;or (9J
lhe !allure 01 Iny Obllror to tlllltty tvrnlSh to lender such Il\Intllllnd other Inlormlbon n ltnder mI,
rUSOflabty ftQl.ItStor reqUIte.
as billed,
UNOIl'SI'GHlS UPON DlfAUlI: Notorthsblldrn,anythonllol,,"contr'ryClllllMned "".n.. _heir,
or lhe lId that DebtOf mI, be required to mike PrintiPlllnd/or inlerest Plyments from time to time. If thIS
Hote is pay.bIe upon demlnd.lender' mil' demand Ply",,", of III oubtJndllII PrinciPlI.nd KCl'ued Interest
et an, tllne. .hether or not an [went 01 Def,ult wI hi" occurred. In any event. upon the occurrence 01 any
Event of Def,ult. Lender mIIY do In, or .11 of the IoIIowin(
III .cetlerlle the lnltunty of this Note.nd demand immedlltl Plyment 01 all outstand.nl PnncIPlI Ind
accrued IIltefesl Debtor larees to PI' interest II the '11. prorided in this Note on at such sums untlllMder
has KtUllty recervtd payment in fuQ thtreol. mn it lender hasotnined lud"","1 ,pinst Debtor therefore.
I2l punuIlI\ lD !heW,",nt 01 AItomey _ _ ClIIIlaaJudcmeot ,pins! OrblDr," any 01 them.
13l 'IUW lender's ri&tll of set.on .nd In of lhe rl&ttts. prmlqes Ind remedIeS 01. secured PlIty Undff thf
PtnnsylYlnil Uniform CommerCIII Code .nd .n 01 Its rilhb .nd remedllS under In, securrty liretmtnt.
piedI' 'lIeement.ISSlanmenl mortpp. PG'Ifff. this Note or an, other note. or atI'ler 11Ieement. instfurnent or
documenllUUed 1ft connectlOfl with or ansina out olIn, 01 tfIe lilbllUs, IU oI.hich ","eelles $h,11 bl!
cumullfry. .nd no! a1terMbve. 'he net proceedt olIn, coIIllefll held by Lendef n wcullty tor In, olllle
L...bllrbes wi be ,pp111d lint to lhe 'Ipenws of lendef in prlPlrll'll the coIIIttrlllor UIe,IeII1Ollnd the like.
II'ldudlnc. WIthout hmrtltlOn. rUSOI\Ibte Ittorney's 1m Ind elpensn lIlCurred by Lender lu'tfoolna1ees Ind
'Ipemes oIany ktrpbOn incNIenlta an,ellhe IorlJOlnd.and second. in such order.ulender IfIIY. in Its$OIe
dlKretlOfl,.... to the complet, ubsllCbon 01 an 011'" lJlbdltllS toaether wrth III interest thereon Obbp
WIlVes Ind 'efelSn any ri&tlt to 'eqUlre lender to collect .n, at lhIl'lbllltllS to lender Irom In, other
collateral undef In, lheory of mlrWHlfll ollssets or otherwtSe.lnd specrflClty authorues lender to ,pply
an,collllerll., whlctr ObtllOf hlun, ript.lrt1e or II'lterestlplnslln, oIlhe Obllp'slllbllltllS to lender In
Iny mlnntr Ihlt lender mI, determme.
141 Upon five ISI dl" .1It1en nobceto Detltor. becrn'CCI"'"1 Interest. 1ft IddltJon tothe mlerest provided 10,
above. It In,. II a rate not to eacled four percent (4\1 per Innum on lhe unPlid PnnoPll bJlInce; prOVIded.
however, Ih,t no Interest shiH Kcrue hertunder in eamsolthe mllimum lmounl of inlerest then Ill(nrred by
IIw. DetD 11Im to PlY such ICCrued interest upon demlnd.
WAlUlr OF 'nORln: Otbtor. IIId uch oIlhem II more than oae. hereb, Itlevotlbl, lulhofllM and
tmpo.man, Ahorneyor an,Clerk olIn, courtol fecord 1)1'101 10. upon or Ifler theoccunenceol ,n, ( vtnl 01
Delaull.lS specllltd lbeve. to IPPflr lor Ind CONFESS JUDGMENT Ipmsl Debtor. Of In, 01 them. 1'1 lar $uch
sums IS are due Ind/or mil' become due on the l'lbl~bn.lnd/or (b) in In, ICbon 01 replevin msllluled b.,
lfnder 10 obllln posstUIOfl olIn, coUlteral wcuflnllhlS Note Of securanlln, 01 lhe Ulblllbes. In ellhe' cu.
with or wllhout dtcll'lbol'l. WIth costs at sull. WIlhout sta, at 'Iecubon Ind WIth .n amount not to flCeed litleen
perCfllt (1S\1 01 the unPlid princiPII amounl 01 such ludlment, but noIlns IhJn One lhouund CoIlIrs
ISl.ooo 001. added lor Ihorney's collecbon lees. Deblor. tU Wllm the nlht ollnqursrbon on Iny re.ll f1111e
IeY1ed on, voIunllrlly condemns the $lme. lulhonllS the Prothonollry or CSfrk 10 enter upon ItIe Wilt 01
Eaecubon u'li voIuntar, condemnlbon and IVftS lhlt $lid rul estate ma, be $Old on a Writ 01 hecullon,
l2) 10 the eltent permltled b, I... W'ives Ind ftlelsn all .ell!lllom al ,ppr,rwmenl ,ta" tlfmpllOn or
Ippe,'lIn of an, wte now In lorce or herufter enac:tfd; and flI fele,sn II ,rrors In such proceed.nc$.. III
copy allh" Note. 'eflllf'd b, Iffldavl! by (If on behlll nt Lender ,hili hl'tfbetn f.1f1t in 'uth .l(tlOn..1 ,h,lI not
be nKtSSIry 10 hie lheOllllMI NoIe IS I Wlnlnt 01 Allor"". 'he luthorlt, and poffff to Ippelr lor Ind pnler
ludlmfntlll1nst Deblor shan not be 'Ihausted by lhe Inrtlal elerCISIlherfOl.,OO the ume mI, be eaercl\ed.
from lJme to bmt.as oIIen IS lender shIll deem nfClSSIl, ,nd desirable, and thIS Note shIn b! I $ulll(!tnl
Wllllnl lherelore.lender ml, ent,r on. or more ludl"'fllb In Itleum,or dlllerentcountlf\lor III Of palt ot
the lllbllrbes, .lthout rtprd to whether ludlrnent his been entered on more thin one octISIOf'l lor ltle $,1m!
lilbllitlt1 In Iheevtnlln, judlmtnt,ntered Iplns! Deblor hereunder rs s!lIckenoropened upon ,pphClhon
by or on DebIOf'S behlll tor ,n, relson .hltsoe,er.lender rs hereb, lulhorued Ind ,mpo.ered 10 'llln
Ippelllor 100 Conleu Judlmfllt 'Iilns! Otbtor or In, 01 lhem. subtect. ho'Iftve', 10 ttle bmll,bon IhJl1lK.h
subsequentenlr,or fntllfsolludlment b, l,nder mayonl., be done 10 cure InyerforsIn pr1Ol' proceedln<<t
only ,nd to the ,lIentllllt such erfors Ite subtect to ture '" lhe liter pror:ttdlnrs
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.198!t BANCQNSUMER SERVICE, INC
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,.r'AYlrNTI: Unltu 0Ihtt'.", 'Ifled to in wnbnl by Dtbtor, thll Noll m., be pllPlId in wltoIeor in Plrt.
.I.ny bm. wllhoul penally, Ho""', " the ,"~PlI ot lhil Nolt is rePlyablt in inltaUmenb, .ny luch
prepaYmfllb ~an ..pplled hrst 10 KC,ued inltfnl to thl dal' lit prepaymenl.nd then on .CCOilnt of the lilt
remllnlna unpaid Pnnclpal Plyment to bKomt dUl, and the numbel of mmOments dllf heleunde, sh.n be
cOfflSpondln&1r leductd. No luch pr'PI,mtnb~" f!duclthe.mounts of IhI Khedulrd insldmlnts nOf
Ilhe.... Deblol 110m PI,lna .schedultd installmenlon IIch inwllmenl paymenl dale unl~.M Pnnclpal due
toae1hel wllh ICClued tnllflSlltlertOA hIS betn paid In tul.
DISIU.SUUNT OF '.OCUDI: [Jct! Dtbtof hlllb, tlprlStnts.nd w.n.nts 10 lendtf that thl PnftCIPlI of
ttus Nole d be used solely IOf buSintU Of CGmmtfCi.1 putposes.nd 'l'lft that an, cksbursemenl olthl
Pllntlpalof this Note. or .ny pottlon Ihlr"', to .ny une Of mort Debtorl,lh.M concluSivrly be detmtd to
constllule dlsbufwment 01 luch PnnaPlllo.1Id tOf ItIt benefll 01.. DeblOIS.
IIGHI 10 COIIPUl( fII01(: Lender may .t .ny bmt ,nd from Illne to tlm.. without notlC. 10 any Obll.ol;
111 d.le thiS Nole IS ollhe d.l. when the loin evidenced h...by.u m.dl; 121 complel.JflY blink SPices
accoldlftllo Ihe lerms upon which lender hIS ....nled such Ioan;.nd PI cause the 5Ilnature of one Of more
persons 10 be added IS .ddlllonll Debtors Without In In, WI, .!Ieclln! Of kmlM' the 1lIb1ll1y ollh. ..lslln!
OblllOfS 10 lender
MISCULAfllrOUS: Debtor hlflb, wlivn protest. notltt 01 protist. presentment. dl~. notlCl 01 dishonor
Ind dem.nd Deblor hl/eb, Wllvn .nd fNISII 18 errorl, dlfects Ind imperlectlon, in .ny proceedln,
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lnlbtultd b, Llndlf under the !t,ms ollhls Notl, Debtor II'"S to IflmbulM IIndllIOf.1I cosls.lncludlnl
court costs .nd fllSonabl. .llorn,,', I", ollS'4.lbutm no tvtnlltSllhln $UIOOI of the lobllmoont due
hereundlf, Incurred bW Lender m connecbon With the collKbon.nd enlorcemlnlhellOf. If thIS Note bellS
inl""tlt I rIle baled on Ih. fllerenCt 'II. dnilnlted bW lender or othl" 110m Ilme 10 time Illh. Prime
R.I.. 811' RIle. or otherWIse, or the DIscount R.II,n Ineet 110m bme 10 time II stl b, the r edll'l1 Rese,we Bank
In whose dlstJlCt the lender illouled, chlnllS In the fIle 01 Inlerest heleon shaU become enectlve on the dlY'
on whICh such relerenc.lllechlnps Of th.t redlfll Reserve Sink Innouncnchlnlfllnlts Dlscounl Rile. IS
.ppllcable. lhe lilhls.nd priVllettl olundlf under 1M HolllhaU mu" 10 Ih. beIl.11I ollis SUCCf$SOl'S and
IUllnl All repr.sentabonl, wllllnbts Ind II'"menbol Oblip made In connectIOn wrth thrs Nole shan bmet
OblllDl's perlOllll rePflstntlbvel, heirs, SUCCfUOfS Ind ISS/'ns. IIlny prOVlSlOll 01 thtl Holelhan lor .n.,
lll101lbehtldtobeinvllidorunenlOfCtlble,suchinvllidllyorunenlOlCllbllilyshaloot.tlectInyolhlf
ploviSlOn hlflOl, but Ihls Notl shall be tOltsllued nil IUth invaWor unlnIOlc..b1. provision h.d n'VlI bHn
tOnt'lned h"fln. Ihl W'lvel of .ny [vent ot Delault 01 thtlldult 01 Lendlf 10 ,.eraselnW fllht OIlemedy 10
whiCh II mly betnlltlecl ~llInot bedeemed IWllve, ollny subsequent [ventol Dellult 01 01 L,nder's 'llhllo
IJlrtlst tlat OlIn, olhff '11M 01 remedy to whlth Lendff i1 entitled. Ihls Nott hIS been delivered 10 Ind
ICcepted b, Lender in Ind shd be IDVffned b, th.lI.soll11e Common_lIh of PtnnsylnOlI,unlm rederll
Ia. othllwlII IPpllIl. lhe paMS 11f" to lhe IU'isdlCbon 01 the ledfflllnd "Ite tourts located '"
Penns,lnnil in connection With Iny miller I,isin! hlflUnder, Indud,"! the toll'd.on Ind enlorcement
hlfeol.
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BANCONSUM[RrORMPA 170(RN 12/8!!)