HomeMy WebLinkAbout95-07070
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RUSSELL T. WERNER. SR.
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RUSSELL '1'. WERNER. JI1.
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RUSSELL 1'. WERNER SI1.
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PROMISSORY IfOTB
$15,000.00
Camp Hill, Pennsylvania
.0. VALU. ..C.IV.O, without defalcation, Russell T. Werner,
Jr. ("Maker") promises to pay to the order of Dr. Rusllell T.
Werner, Sr. ("Holder"), the principal sum of Fifteen Thousand and
00/100 ($15,000.00) DOLLARS in lawful money of the United Statell
payable with interest at the rate of Seven and one-half (7.5')
percent per annum in equal monthly installments of Three Hundred
and 00/100 ($300.00) DOLLARS commencing January 15, 1995 and
continuing until January 15, 2000 at which time the remaining
balance shall be due and payable in full.
And it is hereby expressly agreed that upon the failure of the
Maker to pay any sum herein specified within ten (10) days of when
due, or upon a breach of any of the other terms, covenants,
conditions, provisions, stipulations, promises, and agreements of
this Note, the entire principal debt, or so much thereof as may
remain unpaid at the time, and all interest thereon, shall, at the
option of the Holder, become due and payable immediately, without
notice, and payment of said principal debt, or the unpaid principal
balance thereof, and all interest thereof, may be enforced and
recovered at once, time being of the essence. Maker agrees to pay
a late payment charge of five (5') percent of the payment amount
for any payments not received within ten (10) days of when due.
Maker irrevocably authorizes the Prothonotary or attorney of
any Court of record to appear for Maker at any time to waive the
issuance and service of process and to confess judgment againat
Maker, and in favor of Holder thereof for such amount as is unpaid
with the accrued interest due thereon, with costs of suit, and with
7' added for collection fees, and waive and release all errors
which may intervene in such proceedings. The authority herein
granted to confess judgment shall not exhausted by any exercise
thereof but shall continue from time to time and all times until
full payment of all amounts due hereunder.
Maker, endorsers, guarantors and sureties of this Note, and
each of them, hereby waive diligence, demand, presentment for
payment, notice of non-payment, protest, notice of dishonor, and
notice of protest, and specifically consent to, and waive notice of
any renewals or extension of this Note, whether made to or in favor
of the Maker to any person or persons, and hereby waive any defense
by reason of extension of time for payment or other indulgsnce
granted by the Holder.
1
Any failure of the Holder to exercise any rights hereunder
shall not constitute a waiver of the right to the later exercise
thereof. The remedies of thio Note securing the same providing for
the enforcement of the payment of the principal sum thereby
secured, together with interest thereon, and for the performance of
the covenants, conditions, and agreements, matters and things
herein and therein contained, are cumulative and concurrent and may
be pursued singly or successively, or together at the sole
discretion of the Holder and may be exercised as often as occasions
therefore shall occur. The waiver by Holder of failure to enforce
any covenant or condition of this Note or to declare any default
thereunder or hereunder shall not operate as a waiver of any
subsequent default or affect the right of the Holder to exercise
any right or remedy not expressly waived in writing.
Maker hereby waives the benefit of any laws which now or
hereafter might otherwise authorize the stay of any execution to be
issued on any judgment recovered on this Note, or the exemption of
any property from levy and sale thereunder. Maker also waives the
right of inquisition on any real property that may be levied upon
under any jUdgment obtained on this Note, voluntarily condemn the
same and authorize the entry of such condemnation upon any writ of
Fieri Facias or other writ of execution, issued on said judgment,
and agree that said real property may be sold under the same.
This Note may not be changed, amended or modified orally.
All covenants, promises, agreements, authorizations, waivers,
releases, options, undertakings, rights and benefits made or given
herein by the Maker shall be binding upon the heirs, executors,
administrators and assigns of the Maker.
Whenever used, the words "Maker" and "Holder" shall be deemed
to include the respective heirs, personal representatives,
successors and assigns of Maker and Holder.
This Note is to be construed and enforced in all respects in
accordance with the la\13 nf the commonwealth of Pennsylvania.
III WITNESS WHEREOF, the parties hereto, intending to be
legally bound hereby, have caused this Note to be executed and
delivered in their names, the day and year first above-written.
WITNESS:
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