beginning on January 2023 and continuing to be paid every 14 days/on each payday of every month thereafter until the total balance is paid as stated next; and
B. Final payment of remaining balance on or by October 31, 2023;
C. Debtors hereby waive notice and demand for payments.
2. The Applicant may prepay all or any part of the principal amount at anytime.
3. If the Applicant default in the payment of principal, interest, or other fees or charges when due hereunder and the default is not cured within ten (10) days after demand by the Creditor, then the Creditor has the option to accelerate and declare the unpaid principal sum hereunder together with all charges and interest accrued thereon to be immediately due and payable, and such principal sum, charges and interest shall thereupon become and be due and payable without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived. Failure to exercise this option shall not constitute a waiver of the right to exercise the same in the event of the same or any subsequent default.
4. Also, if a payment is not made by 15 days after October 31, 2023, then Applicant shall be liable for and shall pay interest at 18% per year or 1.5% per month on amount that remains unpaid plus a late charge equal to 5% of such payment. In light of the great difficulty in determining Creditor’s damages and expenses of collecting the unpaid payments, Debtors agree that this is a reasonable late charge.
5. If Applicant fails to make timely payments, including the late charge and interest, and Creditor needs to use or hire an attorney and/or file suit to collect such amounts or to enforce this Contract, then, as further consideration for Creditor extending this credit and making this Contract, ALL MUZING GROUP MEMBERS shall ALSO be liable for and shall pay for any unpaid balance of the Applicant plus all of the Creditor's reasonable collection expenses, court costs, and attorney fees incurred before filing any lawsuit or claim, in the trial court, in any post-judgment proceedings, and in any appeal, until the amounts due hereunder are paid in full, and Debtors WAIVES the protections and provisions of RPPL 7- 11 (14 PNC §2110(a) as to Debtor’s right to claim property as exempt from execution or judicial process or seizure or sale and §2111 as to limits on legal fees and expenses claimed by Creditor. The preceding sentence does not merge into a judgment. Payments are applied first to interest, late fees, attorney fees, costs, and then to the principal.