ARTICLE:

Liability of Corporate Officers
by EDWARD LOWRY

APPENDIX D : Motion for Judgment - Note and Guaranty

VIRGINIA: IN THE CIRCUIT COURT OF THE CITY OF NORTH FORK

PRIME BANK, Plaintiff, V. IMA DEADBEAT, Civil No. ______ and SOSA FRIEND, Defendants

MOTION FOR JUDGMENT

The Plaintiff, Prime Bank (the "Bank"), by counsel, moves the Court for judgment against the Defendants on the following grounds:

1. The Bank is a national banking association with offices in the City of North Fork, Virginia.
2. The causes of action against each of the Defendants arose in the City of North Fork, Virginia.
3. Each of the Defendants are residents of the City of North Fork, Virginia.
4. The Defendant, Ima Deadbeat ("Ms. Deadbeat") executed a deman promissory note dated December 18, 1998 payable to the order of the Bank in the original principal amount of $22,083.22 (the "Note"), a true copy of which is attached hereto as Exhibit A and incorporated herein by reference.
5. Under the provisions of the Note, the entire balance of the Note became due and payable on demand.
6. By letter dated December 20, 1999 (the "Letter"), the Bank made demand on Ms. Deadbeat for payment in full of all sums due under the Note. A true copy of the Letter is attached hereto as Exhibit B and incorporated herein by reference.
7. Ms. Deadbeat has failed and refused to make payment in full of all sums due under the Note.
8. The remaining principal balance due under the Note is $20,901.70 bearing interest at an annual rate of 1.75% above the rate established from time to time by the Bank as its "Prime Rate". As of January 2, 2000, accrued interest was due under the Note in the amount of $407.88 and interest continues to accrue at that rate.
9. Under the provisions of a Guaranty dated December 18, 1998 (the "Guaranty") the Defendant, Sosa Friend (the "Guarantor") guaranteed the payment of all indebtedness, obligations and liabilities owed by Ms. Deadbeat to the Bank up to the limited amount of $20,000.00, plus interest on such amount and all costs of collection (including attorneys' fees). A true copy of the Guaranty is attached hereto as Exhibit C and incorporated herein by reference.
10. By copy of the Letter, the Bank made demand on the Guarantor for the payment in full of all sums due under the Guaranty.
11. The Guarantor has failed and refused to make payment in full of all sums due under the Guaranty.
12. Under the terms of the Note and the Guaranty, the Bank is entitled to receive its costs of collection of any sums due under the Note and Guaranty, including twenty-five percent (25%) attorneys' fees.
WHEREFORE, the Plaintiff, Prime Bank, requests that:
A. The Court enter judgment against the Defendant, Ima Deadbeat, in the amount of $20,901.70, together with interest thereon in the sum of $407.88 plus additional interest from January 2, 1992 until paid.
B. The Court enter judgment against the Defendant, Sosa Friend, in the amount of $20,000.00, together with interest thereon in the sum of $390.28 plus additional interest from January 2, 1992 until paid.
C. The Court award the Plaintiff the costs of this action, including 25% attorneys' fees.
D. The Court grant such other relief as may be deemed equitable or just.

Respectfully submitted
PRIME BANK
By Counsel

___________________________
Magnus Flaws
for Flaws & Errs, P. C.
8000 Court Square, Suite 3
P. O. Box 22296
North Fork, Virginia 22202
Telephone number: (104) 555-1234
Fax Number: (104)555-0001
Virginia State Bar No. 22224