Edited Code - Soft2050

<?php

//uncomment this when u have imagecfg.php

// include('imagecfg.php');

$siteURL = "http://localhost";
$uploadDir = "images";
    if ($_POST['localUpload']) {

        $name = $_FILES['imagefile']['name']; //file name
        $type = $_FILES['imagefile']['type']; // type of file
        $size = $_FILES['imagefile']['size']; //size of the mage in bytes
        $tmp_name = $_FILES['imagefile']['tmp_name']; //temp file name and location
        $ext = substr($name, strrpos($name, '.')); //grab file extension

        // Requirements
        $dimension = getimagesize($tmp_name);
        $width = $dimension[0];
        $height = $dimension[1];

        // get the extension of the file in a lower case format
         $ext = strtolower($ext);

    if (array($type, $allowed) && ($maxfileSize) && ( $width < $maxWidth && $height < $maxHeight )) {
        $name = strtotime(gmdate("M d Y H:i:s", time())).''.$ext; //we will give an unique name, for example the time in unix time format
        move_uploaded_file($tmp_name, $uploadDir.'/'.$name); // upload the image, eventually i want to force the image on server to use my preferred file type

        echo "
        <div align='center'>You've just successfully uploaded $name with the following specifications $size bytes and $width x $height px</div>

        <div align='center'><a href='$uploadDir/$name'><img src='$uploadDir/$name' alt='Uploaded image'></a></div>

        <div align='center'>Direct Image Links</div>

        <p align='center'>URL: <input tabindex='1' value='$siteURL/$uploadDir/$name' onclick='this.focus();this.select();' /></p>

        <p align='center'>HTML: <input tabindex='2' value='&lt;a href=&quot;$siteURL/$uploadDir/$name&quot;&gt;&lt;img src=&quot;$siteURL/$uploadDir/$name&quot; border=&quot;0&quot;&gt;&lt;/a&gt;' onclick='this.focus();this.select();' /></p>";

    }
    else
        echo "<p>You have submitted an invalid extension/larger file size than we accept or the dimensions are too big.</p>";

    } // < attempting a local upload and all checks.
elseif (isset($_POST['remoteUpload'])) {

    $urls = explode("\n", $_POST['remoteimage']);
    $imgarray = array();
    foreach ($urls as $url)
    {
        $url = trim($url);
        $imgname = strtotime(gmdate("M d Y H:i:s", time())) . '-' . basename($url);
        $localimg = $uploadDir .'/'. $imgname;
        $img = file_get_contents($url);
        file_put_contents($localimg, $img);
        $url = $baseurl . $imgname;
        echo "<div align='center'>You've just successfully uploaded $imgname.</div>

        <div align='center'><a href='$localimg'><img src='$localimg' alt='Uploaded image'></a></div>

        <div align='center'>Direct Image Links</div>

        <p align='center'>URL: <input tabindex='1' value='$siteURL/$localimg' onclick='this.focus();this.select();' size='65' /></p>

        <p align='center'>HTML: <input tabindex='2' value='".htmlspecialchars_decode("<a href=\"$siteURL/$localimg\"><img src=\"$localimg\" border=\"0\"></a>")."' onclick='this.focus();this.select();' size='65' /></p>";
    }
    }
?>
<div id="local">
<h2>Choose a file, by browsing your PC.</h2>
                <form method='POST' enctype='multipart/form-data' id='uploadLocalForm'>
                <input type="hidden" name="p" value="1" />

        <input type='file' name='imagefile' size="65" value="Click to browse..." /><br>

            <input type='submit' name='localUpload' value='Upload' /><br>
</form></div>

<div id="remote">
<h2>Find an image on the web and paste the URL here.</h2>
                <form method='POST' enctype='multipart/form-data' name='uploadForm' id='form1'>
                <input type="hidden" name="p" value="1" />

        <input name='remoteimage' size="65" /><br>

            <input type='submit' name='remoteUpload' value='Upload' />
</form></div>