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PNC BANK v. BOLUS

440 Pa.Super. 372 (1995)

655 A.2d 997

PNC BANK, National Association Successor by Merger to PNC Bank, Northeast Pa., Formerly Known as Northeastern Bank of Pennsylvania, Appellee v. Robert C. BOLUS, A/K/A Robert Bolus, Appellant.

Superior Court of Pennsylvania.

Filed January 25, 1995.

Reargument Denied March 21, 1995.

Attorney(s) appearing for the Case

Debra Bolus-Kaufmann, Philadelphia, for appellant.

Steven E. Ostrow, Philadelphia, for appellee.

Before McEWEN, OLSZEWSKI and JOHNSON, JJ.

OLSZEWSKI, Judge:

In 1989, PNC Bank loaned Robert Bolus $780,000. The loan was secured by a mortgage and a lease assignment, and was part of a larger transaction which restructured Bolus's existing debt. The only aspect of the loan which concerns this appeal, however, is the promissory note which evidenced it, and which permitted PNC to confess judgment against Bolus in the event of a default. The pertinent parts of the note read:

PROMISSORY NOTE<...

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