Christiana Trust, a division of Wilmington Saving Fund Society, FSB v. James

Filing 52

MOTION by Plaintiff Mortgage Electronic Registration Systems Inc. et. al. for judgment (Attachments: # 1 Exhibit Affidvit of Proof - exhibits)(Trausch, James)

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 1 of 41 PageID #:595

IN THE UNITED STATES DISTRICT COURT
FOR THE NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION
The Bank of New York Mellon Trust
Company, National Association, as grantor
Trustee of the Protium Master Grantor Trust,

)
)
)
)
)
)
)
)
)
)
)

Plaintiff,

-vs.­
Michael A. James, Non-Record Claimants
Unknown Owners
Defendants

Case Number: 11 CV 05905
District Judge: Honorable Charles
Norgle Sr
Magistrate Judge:

AFFIDAVIT OF PROOF

I David McDonnell, being first duly sworn on oath, deposes and says that (s)he is the
:Managing Director of the Statebridge Company LLC, the duly authorized loan servicing agent of the
plaintiff and has full knowledge and authority to make this affidavit; have personally reviewed the
stored electronic images of the mortgage, the note, the assignments, the endorsements, and reviewed
the loan records relating to the mortgage loan foreclosed herein identified as loan number
0000006124, and state:
My review of the images stored electronically for this loan number show that on January 15,
2008, .MIrnAEL A JAMES executed and delivered the Note payable to EQUIFIRST
OORPORATION in the principal amount of $850,000.00 bearing interest as therein stated, payable
in monthly installments of principal and interest until paid, a copy of which is attached. To secure
the payment thereof, he executed and delivered a Mortgage to the MORTGAGE ELECTRONIC
REGISTRATION SYSTEMS, INC as nominee for EQUIFIRST OORPORATION on the same
date, which conveyed a security interest in the mortgage real estate descnbed in the complaint. The
mortgage is recorded in the county office of the Recorder of Deeds as Document No. 0802536007,
a copy of which is attached.

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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 2 of 41 PageID #:596

That further, Plaintiff is now the assignee of the original mortgagee byassignment(s)
recorded in the office of the Recorder of Deeds from MORTGAGE ELECIRONIC
REGIS1RATION SYSlEMS, INC. to TIiE BANK OF NEW YORK. MELLON TRUST
CD:MPANY, NATIONAL ASSCXlATION, AS GRANTOR TRUSlEE OF TIiE PROTIUM:
MASlER GRANTOR TRUST, by assignment dated the 21st day of January 2011 and recorded in the
office of the Recorder of Deeds of Cook County on January 26, 2011 as document number
1102634079 a copy of which is attached
Further, my review indicates that it has possession of the Note, which was endorsed in blank
by separate Allonge by Karen Ruff of Equifirst Corporation a copy of which is attached; this
original Note and Allonge along with the original Mortgage and Assignment were received from the
original lender and delivered to our foreclosure counsel.
As the Managing Director of Statebridge Company, LLC, the servicing agent for TIiE
BANK OF NEWYORK. MELLON TRUST CD:MPANY, NATIONAL ASSCXlATION, AS
GRANTOR TRUSlEE OF TIiE PROTIUM: MASlER GRANTOR TRUST, the Plaintiff - I have
access to the scanned mortgage documents, loan records and loan payment history of the borrower.
The loan records are maintained on the computer system by an account tracking system in the normal
course of business. These records reflect the payments received, payments made from escrow, the
application of any payments (to principal, interest, late charges and advance. Any other credits, set offs,
deductions or disbursements are also reflected
Statebridge Company, LLC keeps these records of payments and disbursements, described
above, through a manual process. All payments are sent to Statebridge Company LLC where they
are manually entered into a system which collect the payments. These payments submitted by this
process settle and post to the account within 24hours (business hours) at which the system is
updated to reflect all posted payments or disbursements in the system.
The system adjusts to reflect payment at or within a reasonable time of the payment's
settlement. The system accurately reflects the amount paid or disbursed and I have no knowledge of
it reflecting incorrect payment information. Accordingly, the amounts due and owing reflect the
amount due as of the date of the repon because all payments and disbursements. The scanned
mortgage images are maintained in a PDF format on the system.

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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 3 of 41 PageID #:597

As such I am a keeper and custodian of the scanned and computerized loan servicing
records relating to the mongage loan foreclosed herein identified as loan number 0000006124; has
reviewed the scanned images and mongage loan records in connection with the default of the
aforementioned loan and has personal knowledge of the records, a copy of which is attached.
I have reviewed the loan records and they indicate the default, as specifically alleged in the
Complaint; there are due to plaintiff the following amounts as of July 24th, 2012:
Principal Balance due as of Default
Accrued Interest thereon to August 1 2012
Accrued Late Charges
Advances for:
Propeny Inspections
BPO's
Real Estate Taxes
Hazard Insurance
Escrow Credit applied November 25 2008
Escrow Credit applied November 25 2008
Funds in suspense for benefit of borrower

$844,629.48
$261,694.40
$8,132.00

Total Payoff

$1,119,812.65

$347.00
$585.00
$20,005.79
$11,921.00
$(8,883.52)
$(253.12)
$(18,365.38)

The Note and Mortgage provide and the mongagors have obligated themselves to pay the
following costs in connection with this suit and the plaintiff has advanced to counsel or agreed to
advance to counsel, and also to pay for reasonable attorneys' fees, which are set forth in the
attorneys affidavit.
The note rate interest continues to accrue on said Principal at the rate of $195.54 per day
I certify that the attached Note, Mortgage and Riders, Assignments and Allonges are true
and correct photocopies of the original instruments described herein. I further state that, except as
set forth herein, the Note and Mortgage have not been transferred, sold or assigned.

This Affidavit is made pursuant to Section 15-1506(a) of the Illinois Mortgage Foreclosure
Law (S.HA 735 ILCi S/15-1506{a)); and the FEDERAL RlJLES OF QVIL PRcx::EDURE
TInE VII. JUDGMENT Rule 55(b) and Supreme Court Rule 191(a), forthe purpose of proving

the amount due herein.
I have personal knowledge of the facts stated herein and if sworn as a witness, I can
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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 4 of 41 PageID #:598

competendytestifyas a witness to such facts.
And funher affiant sayeth not.

Statebridge Company, LLC, Servicing Agent for The
Bank of New York Mellon Trust Company, National
Association as grantor trustee of the Protium Master
Grantor Trust

S~here»> David McDonnell, Managing Director
G-2C:2_

TIllS INSlRUMENTWAS ACKNOWLEDGED TO
BEFORE ME TIllS :;)., tf
DAY
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JAROS, TITILE & O'TOOLE, UMI1ED
Attorney for Plaintiff
20 North Oark Street
Suite 510
Olicago, Illinois 60602
[phone]

4

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 5 of 41 PageID #:599
Doc#. 08D2536007 fee: $7000
Date: 01/25/2008 OHlO PM Pg: 1 of 19

Cook County Recorder of Deeds
*RHSP FEE $10.00 Applied

RctlmlTo:
BquiFirst Corporation
Attn: CollatBZ'al M
SOD Forest Point Circle
Charlotte, He 2B273

E-RECORDINGS

Prepared By:
1f:i.aky ~eau
SOD i'0r88t Poi-DC Circle,
Charlotte, Nt: 28273

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Above This I.iH For R.tcorditJI Dafll - - - - - - - - - - - ­

MORTGAGE
MrnN

10020010'11212442~

STEWART TITLE COlVlt'AN'I
_ W. Mrq TraU Road. Suile 111t

MdIaDJI. It 60101

630 ·889·4000
DEFlNmONS
Words used in multiple sections of this document are defined below and other words arc defined in
Sections 3, 11, J3, 18, 20 and 21. Certain rules regarding the usage of words used in this document are
also provided in Section 16.
(A) "Seeurlty lastnnneut" means this document, which is dared January 15, 2008

together with all Riders to this document..
(B) "Borrower" is Michael James, solelY f

~ S. ~ 1e

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Borrower is the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems. Inc. MERS is a separate corporation that is
acting solely as a nominee for Lender and Lender's successotS and assigns. MJi;RS Is the mortgagee
1Iuder this Security Illstrument. MERS is organized and existing under the laws of Dela.ware, and has an
address and telephone number of P.O. Box 2026, Flint. MI 48501-2026, tel. (888) 679-MERS.
04.11212442
ILLINOIS· Single Family. Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WnH MI:RS
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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 6 of 41 PageID #:600
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(D) "Lenderlt is Equi.First COq>Oration
Lender is a Corporation
organized and existing under the laws of North Caro1ina
Lender's address is 500 Forest Point Circle
Charlotte, NC 28273
(E) "Note" means the promissory note signed by Borrower and dated January 15, 2008
The Note states that Borrower owes Lender eight hundred fifty thousand and 00/100
Dollars
(U.S. S 850, 000.00
) plus interest. Borrower has promised to pay this debt in regular Periodic
Payments and to pay the debt in full not later than February 1, 2038
(F) "Property" means the property that is described below under the heading "Transfer of Rights in the
Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges
due under the ~ote, and all sums due undes- this Security Instrument, plus interest.
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following
Riders are to be executed by Borrower [check box as applicable]:

[i] Adjustable Rate Rider

D

D

Balloon Rider
VA Rider

LJ Condominium Rider
[J Planned Unit Development Rider

D

Biweekly Payment Rider

D

Second Home Rider
1-4 Family Rider
[i] Other(s) [specify]
ARM Floor Rider

D

(I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations,
ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final,
non-appealable judicial opinions.
(J) "Community A!lSociation Dues, Fees, and Assessments" means all dues, fees, assessments and other
charges that are imposed on Borrower or the Property by a condominium association, homeowners
association or similar organization.
(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by
check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic
instrument. computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit
or credit an account Such term includes, but is not limited to, point-of-sale transfers, automated teller
machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse
transfers.
(L) "Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds tt means any compensation, settlement, award of damages, or proceeds paid
by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)
damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the
Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the
value and/or condition ofthe Property.
(N) tlMortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on,
the Loan.
(0) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the
Note, plus (ii) any amounts under Section 3 of this Security Instrument.
(P) ''RESPA'' means the Real Estate Settlement Procedures Act (12 U.S.c. Section 2601 et seq.) and its
implementing regulation, Regulation X (24 C.F.R. Part 3500). as they might be amended from time to
time. or any additional or successor legislation or regulation that governs the same subject matter. As used
in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard
to a "federally related mortgage loan" even if the Loan does not qualify as a "federal1y related mortgage
loan" under RESPA.

0411212442
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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 7 of 41 PageID #:601

(Q) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or
not that party has assumed Borrower's obligations under the Note and/or this Security Instrument

TRANSFER OF RlGHTS IN TIlE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and
modifications of the Note; and (ii) the perfonnance of Borrower's covenants and agreements under
this Security lnstrument and the Note. For this purpose, Borrower does hereby mortgage. grant and
convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and
to the successors and assigns of MERS, the following described property located in the
County
[Type of Recording Jurisdiction!
ofCook
[Name of Recording Jurisdiction]:

Saa Attached Exhibit A

Parcel ID Number: 20034140030000

which currently has the address of

4511 South King Drive
Chicago
("Property Address"):

[Streel]

ICityl, mino!s 60653

IZip Code!

TOGETHER WITH all the improvements now or hereafter erected on the property. and all
easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and
additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this
Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title
to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or
custom. MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any
or all of those interests, including, but not limited to, the right to foreclose and sen the Property; and to
take any action required of Lender including, but not limited to, releasing and canceling this Security
Instrument.
BORROWER COVENANTS that Borrower is lawftdly seised of the estate hereby conveyed and has
the right to mortgage. grant and convey the Property and that the Property is unencumbered, except for
encumbrances of record. Borrower warrants and will defend generally the title to the Property against all
claims and demands, subject to any encumbrances of record.
THIS SECURJTY INSTRUMENT combines uniform covenants for national use and non~uniform
covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
property.
UNfFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1. Payment of Principal. Interest, Escrow Items. Prepayment Charges, and Late Charges.
Borrower shall pay when due the principal of, and in1erest on, the debt evidenced by the Note and any
prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items

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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 8 of 41 PageID #:602

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pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S,
currency. However, if any check or other instrument received by Lender as payment under the Note or this
Security Instrument is returned to Lender unpaid., Lender may require that any or all subsequent payments
due under the Note and this Security Instrument be made in one or more of the following forms, as
selected by Lender: (a) cash; (b) money order; (c) certified check. bank check, treasurer's check or
cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a
federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at
such other location as may be designated by Lender in accordance with the notice provisions in Section 15,
Lender may return any payment or partial payment if the payment or partial payments are insufficient to
bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan
current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial
payments in the future, but Lender is not obligatcd to apply such payments at the time such payments are
accepted, If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring
the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply
such funds or return them to Borrower. Ifnot applied earlier, such funds will be applied to the outstanding
principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower
might have now or in the future against Lender shall relieve Borrower from making payments due under
the Note and this Security Instrument or performing the covenants and agreements secured by this Security
Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all
payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest
due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments
shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts
shall be applied first to late charges, second to any other amounts due under this Security Instrument, and
then to reduce the principal balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a
sufficient amount to pay any late charge due. the payment may be applied to the delinqualt payment and
the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received
from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be
paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or
more Periodic Payments., such excess may be applied to any late charges due. Voluntary prepayments shall
be applied first to any prepayment charges and then as described in the Note.
Any application of payments, insurance proceeds, or MisceUanoous Proceeds to principal due under
the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due
under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due
for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a
lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c)
premiums for any and all insunmce required by Lender under Section 5; and (d) Mortgage Insurance
premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage
Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow
Items." At origination or at any time during the term of the Loan, Lender may require that Community
Association Dues, Fees, and Assessments. if any, be escrowed by Borrower, and such dues. fees and
assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to
be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives
Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's
obligation to pay to Lender Funds for any or all Escrow ltems at any time. Any such waiver may only be
in writing. In the event of such waiver, Borrower shaH pay directly, when and where payable, the amounts
0411212442
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due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires,
shall furnish to Lender receipts evidencing such payment within SUdl time period as Lender may require.
Borrower's obligation to make such payments and to provide receipts shall fOT all purposes be deemed to
be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement"

is used in Section 9. [f Borrower is obligated to pay Escrow Items directly, pursuant to a waiver. and
Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights unda- Section 9
and pay such amount and Borrower shan then be obligated under Section 9 to repay to Lender any such
amount Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in
accordance with Section 15 and. upon such revocation. Borrower shall pay to Lender all Funds, and in
such amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply
the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can
require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and
reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable
Law.
The Funds shall be heJd in an institution whose deposits are insured by a federal agency,
instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in
any Federal Home Loan Bank. Lender sh.aIl apply the Funds to pay the Escrow Items no later than the time
specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually
analyzing the escrow account, or verifYing the Escrow Items, unless Lender pays Borrower interest on the
Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing
or Applicable Law requires interest to be paid on the Funds, Lender shaH not be required to pay Borrower
any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest
shall be paid on the Funds. Lender shall give to Borrower, without charge. an annual accounting of the
Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to
Borrower for the excess funds in accordance with RESPA. Tfthere is a shortage of Funds held in escrow,
as defined under RESPA, Lender shall notify Borrower as required by RESPA. and Borrower shall pay to
Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12
monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall
notifY Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make
up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon payment in fun of all sums secured by this Security Instrument, Lender shall promptly refund
to Borrower any Funds he1d by Lender.
4. Charges; Lieru. Borrower shall pay all taxes, assessments, charges, flnes, and impositions
attributable to the Property which can attain priOrity over this Security Instrument, leasehold payments or
ground rents on the Property, if any, and Community Association Dues, Fees. and Assessments, if any. To
the extent that these items are Escrow Items, Borrower sball pay them in the manna- provided in Section 3.
Borrower shaH promptly discharge any lien which has priority over this Security Instrument unless
Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable
to Lender, but only so long as Borrower is performing such agrcement; (b) contests the lien in good faith
by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to
prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings
are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating
the lien to this Security Instrument If Lender determines that any part of the Property is subject to a lien
which can attain priority over this Security Instrument, Lender may give Borrower a notice identifYing the

0411212442
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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 10 of 41 PageID #:604

lien. Within ) 0 days ofthe date on which that notice is given, Borrower shdJ satisfy the lien or take one or
more ofthe actions set forth above in this Section 4.
Lender may require Borrower to pay a one-time charge for a real estate tax verification andior
reporting service used by Lender in connection with this Loan.
S. Property Insunmt:e. Borrower shall keep the improvements now existing or hereafter erected on
the Property insured against loss by fire, hazards included within the term "extended coverage," and any
other hazards including. but not limited to, earthquakes and floods, for which Lender requires insurance.
This insurance shall be maintained in the amounts (including deductible levels) and for the periods that
Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of
the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's
right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may
require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone
determination, certification and tracking services; or (b) a one-time charge for flood zone determination
and certification services and subsequent charges each time remappings or similar changes occur which
reasonably might affect such determination or certification. Borrower shall also be responsible for the
payment of any fees imposed by the Federal Emergency Management Agency in connection with the
review of any flood zone detennination resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any
particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might
not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk,
hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower
acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of
insurance that Borrower could have obtained. Any amollnts disbursed by Lender under this Section 5 shall
become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest
at the Note rate from the date of disbursement and shall be payable, with such interest:, upon notice from
Lender to Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's
right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as
mortgagee andior as an additional loss payee. Lender shalt have the right to hold the policies and renewal
certificates. I f Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and
renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender,
for damage to, or destruction of, the Property, such policy shan include a standard mortgage clause and
shall name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insuranoe carrier and Lender. Lender
may make proof of loss if not made promptly by Borrower. Vnless Lender and Borrower otherwise agree
in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall
be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and
Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to
hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the
work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken
promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series
of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law
requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any
interest or earnings on such proceeds. Fees for public adjusters. or other third parties, retained by
Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If
the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
proceeds shall be applied to the sums secured by this Security Instrument. whether OT not then due, with

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1/01

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 11 of 41 PageID #:605

the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in
Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance
claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the
insurance carrier has offered to settle a claim" then Lender may negotiate and settle the claim. The 30-day
period will begin when the notice is given. In either event, or if Lender acquires the Property under
Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance
proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and
(b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by
Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the
coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or
to pay amounts unpaid under the Note or this Security Tnstrument, whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal
residence within 60 days after the execution of this Security Instrument and shall continue to occupy the
Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender
othern'ise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating
circumstances exist which are beyond Borrower's control.
7. Preservation. Maintenance and Protection of the Property; Inspections. Borrower shall not
destroy, damage or impair the Property. allow the Property to deteriorate or commit waste on the
Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in
order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is
determined pursuant to Section 5 that repair or restoration is not economically feasible. Borrower shall
promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or
condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower
shall be responsible for repairing or restoring the Property only if Lender has released proceeds faT such
purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of
progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient
to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of
such repair OT restoration.
Lender or its agent may make reasonable entries upon and inspections of the Property. rf it has
reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give
Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application
process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's
knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender
(or failed to provide Lender with material information) in connection with the Loan. Material
representations inc1ude, but are not limited to, representations concerning Borrower's occupancy of the
Property as Borrower's principal residence.
9. Protection of Lender's Interest in the Property and Rigbts Under tbls Security Instrument. If
(a) Borrower fails to perform the covenants and agreements contained in this Security Inslrument, (b) there
is a legal proceeding that might significantly affect Lender's interest in the Property andlor rights under
this Security Instrument (such as a proceeding in bankruptcy. probate, for condemnation or forfeiture, for
enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or
regu1ations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is
reasonable or appropriate to protect Lender's interest in the Property and rights under this Security
Instrument, including protecting andlor assessing the value of the Property. and securing andlor repairing
the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien
which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable
0411212442
•

..(IA(IL)
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(OQ11l),<;'2

1'.g.7 01

1~

Fonn 3014

1101

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 12 of 41 PageID #:606

~ttomeys' fees~. pro~ its interest in the Property and/or rights under this Security Instrument, including
s~ured posItion m a bankruptcy proceeding. Securing the Property includes, but is not limited to,

Its

entering the Property to make repairs, change locks, replace or board up doors and windows, drain water
from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned
on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not
under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all
actions authorized under this Section 9.
Any amounts disbursed by Lenda under this Section 9 shall become additional debt of Borrower
secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting
payment
If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the
lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless
Lender agrees to the merger in writing.
10. Mortgage InsuraDce. If Lender required Mortgage Insurance as a condition of making the Loan,
Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason,
the fI:1ortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that
preVIously provided such insurance and Borrower was required to make separately designated payments
toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain
coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substlUltially
equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate
mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance ooverage is not
available, Borrower shall continue to pay to Lender the amount of the separately designated payments that
were due when the insurance ooverage ceased to be in effect. Lender will accept, use and retain these
payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be
non-refundable, notwithstanding the fact that the Loan is ultimately paid in fun, and Lender shall not be
required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss
reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires)
provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires
separately designated payments toward the premiums fOT Mortgage Insurance. If Lender required Mortgage
Insunmce as a condition of making the Loan and Borrower was required to make separately designated
payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to
maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's
requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
Lender providing for such termination or until tennination is required by Applicable Law. Nothing in this
Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it
may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage
Insurance.
Mortgage insurers evaluate their total risk on all such insurance in force from time to time. and may
enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements
are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to
these agreements. These agreements may require the mortgage insurer to make payments using any source
of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage
Insurance premiums).
.
.
As a result of these agreements, Lender, any purchaser of the Note, another msurer, any remsurer,
any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts th?t
derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in
exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement
provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the
premiums paid to the insurer, the arrangement is often tenned "captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for
Mortgage Insurance, or any other terms of the Loan. Such agreements win not increase the amount
Borrower will owe for Mortgage ImlUnlDce, and they will not entitle Borrower to any refund.

0411212442
at·SA.(IL)

(0010),02

page 8 of 15

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Form 3014

1101

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 13 of 41 PageID #:607

(b) Any such agreements will not affect the rights Borrowc;" bas - if any - with respect to the
Mortgage Insurance under tbe Homeowners Prokction Act of 1998 or any other Jaw. These rights
may include the right to receive eertaln disclosures, to request and obtain cancellation of the
Mortgage Insurance, to have tbe Mortgage Insuranee terminated automatically, andlor to receive a
refund of any Mortgage Insurance premiums that were unearned at tbe time of soch cancellation or

termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of
the Property, if the restoration or repair is economically feasible and Lender s security is not lessened.
During such repair and restoration period, Lender shan have the right to hold such Miscellaneous Proceeds
until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
Lender s satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the
repairs and restoration in a single disbursement or in a series of progress payments as the work is
completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such
Migcellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings (m such
Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would
be lessened. the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,
whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be
applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property. the Miscellaneous
Proceeds shall be applied to the 'Sums secured by this Security Instrument, whether or not then due, with
the excess, if any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market
value of the Property immediately before the partial taking, destruction, or loss in value is equal to or
greater than the amount of the sums secured. by this Security Instrument immediately before the partial
taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums
secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds
multiplied by the follo'W'ing fraction: (a) the total amount of the sums secured immediately before the
partial taking, destruction, or loss in value divided by (b) the fair market value of the Property
immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower,
In the event ofa partial taking, destruction, or loss in value of the Property in whIch the fair market
value of the Property immediately before the partial taking, destruction, or loss in value is less than the
amount of the sums secured immediately before the partial taking, destruction. or loss in value, unless
Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums
secured by this Security Instrument whether or not the sums are then due.
If the Property is abandoned by Borrower, Dr if. after notice by Lender to Borrower that the
Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages,
Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized
to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the
sums secured by this Security Instrument. whether or not then due. "Opposing Party" means the third party
that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in
regard to Miscellaneous Proceeds.
.
Borrower shaH be in default if any action or proceeding, whether civil or criminal, is begun that, In
Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender', S
interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if
acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to .be
dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other matenal
impairment of Lender's interest in the Property or rights under this Security Instrument. T~e proceeds of
any award or claim for damages that are attributable to the impairment of Lender's interest In the Property
are hereby assigtled and shall be paid to Lender..
.
.
All Miscellaneous Proceeds that are not appbed to restoration or repaIr of the Property shall be
applied in the order provided for in Section 2.
12. Borrower Not Released; Forbeantn4:e By Lender Not s Waiver. Extension of the time for
payment or modificatlon of amortization of the sums secured by this Security Instrument granted by Lender

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Form 3014

1/01

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 14 of 41 PageID #:608

to Borrower or any Successor in Interest of Borrower shall not operate to re1ease the liability of Borrower
or any Successors in Interest of Borrower. Lender shill not be required to commence proceedings against
any ~u~or in Interest of Borrow~ or t~ refuse to extend time for payment or otherwise modifY
amortlzatton of the sums secured by this Secunty Instrument by reason of any demand made by the original
Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or
remedy including, without limitation, Lender's acceptance of payments from third persons, entities or
Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or
.
preclude the exercise of any right or remedy.
13. Joint aDd Several Liability; Co-signers; Successors aDd Assigns Bound. Borrower covenants
and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who
co-si&ns this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this
SecurIty Instrument only to mortgage, grant and convey the co-signer's iT1terest in the Property under the
terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modifY. forbear or
make any ~ommodati.ons with regard to the terms of this Security Instrument or the Note without the
co-signer' s consent.
Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes
Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain
all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from
Bcmower's obligations and Hability under this Security Instrument unless Lender agrees to such release in
writing. The covenants and agreements of this Security Instrument shall bind (except as provided in
Section 20) and benefit the successors and assigns of Lendee.
14. Loan Charges. Lender may charge Borrower fees for services performed in connection with
Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this
Security Instrument, induding, but not limited to, attorneys' fees, property inspection and valuation fees.
In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific
fee to Borrower shall T10t be construed as a prohibition on the charging of such fee. Lender may not charge
fees that are expressly prohibited by this Security Instrument or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so
that the interest or other loan charges collected or to be collected in connection with the Loan exceed the
permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the
charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted
limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal
owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the
reduction will be treated as a partial prepayment without any prepayment charge (whether or not a
prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by
direct payment 10 Borrower will constitute a waiver of any right of action Borrower might have arising out
of such overcharge.
15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument
must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to
have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's
notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers
unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address
unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly
notifY Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's
change of address, then Borrower shall only report a change of address through that specified procedure.
There may be only one designated notice address under this Security Instrument at anyone time. Any
notice to Lender shall be given by delivering it or by mailing it by first class maiJ to Lender's address
stated herein unless Lender has designated another address by notice to Borrower. Any notice in
connection with this Security Instrument shall not be deemed to have been given to Lender until actually
received by Lender. If any no1ice required by this Security Instrument is also required under :~.pplica~le
Law, the ApplicabJe Law requirement will satisfy the corresponding requirement under thIS Secunty
instrument.
0411212442
S-6A(IL)
~

(Q010).02

flage 10 or 15

Form 3014

1101

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 15 of 41 PageID #:609

16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be
governed by federal law and the law of the jurisdiction in which th~! Property is located. All rights and
obligations contained in this Security Instrument are subject to a:1y requirements and limitations of
Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it
might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In
the event that any provision or clause of this Security lnstrument or the Note conflicts with Applicable
Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be
given effect without the confl icting provision.
As used in this Security Instrument: (a) words of the masculine gender shall mean and include
corresponding neuter words or words of the feminine gender: (b) words in the singular shall mean and
include the plural and vice versa; and (c) the word "may" gives sole discretion without any ob:igation to
take any action.
17. Borrower's Copy. Borrower shall be given one copy of the Note and ofthis Security Instrument.
18. Transfer of the Property or a Beneficial [nterest in Borrower. As used in this Section 18,
"Interest in the Property" means any legal or beneficial interest in the Property, including. but not limited
to, those beneficial interests transferred in a bond for deed, contract for deed. installment sales contract or
escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser.
If all or any part ofthe Property or any Interest in the Property is sold or transferred (or if Borrower
is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior
written consent, Lender may require immediate payment in full of all sums secured by this Security
Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by
Applicable Law.
If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall
provide a period of not less than 30 days from the date the notice is given in accordance with Section 15
within ,"/hich Borrower must pay all sums secured by this Security Instrument. If Borrov.rer faits to pay
these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this
Security Instrument without further notice or demand on Borrower.
19. Borrower's Right to Reinstate After A«:eJeration. If Borrower meets certain conditions,
Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time
prior to the earliest of: (a) five days before sale of the Property pursuant to Section 22 of this Security
Instrumentj (b) such other period as Applicable Law might specifY for the termination of Borrower's right
to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that
Borrower: (a) pays Lender all sums which then would be due under this Security instrument and the Note
as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all
expenses incurred in enforcing this Security Instrument., including. but not limited to, reasonable attorneys'
fees, property insp«tion and valuation fees, and other fees incurred for the purpose of protecting Lender's
interest in the Property and rights under this Security Instrument; and (d) ta.kes such action as Lender may
reasonably require to assure that Lender's interest in the Property and rights under this Security
Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue
unchanged unless as otherwise provided under Applicable Law. Lender may require that Borrower pay
such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a)
cash; (b) money order; (c) certified check, bank check. treasurer's check or cashier's check. provide? any
such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or
entity; or (d) Electronic Funds Transfer. Upon rcinstatement by Borrower, this Security Instrument and
obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this
right to reinstate shall not apply in the case of acceleration under Section 18.
20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in
the Note (together with this Security Instrument) can be sold one or more times without prior notice to
n
Borrower. A sale might result in a change in the entity (known as the "Loan Servicer ) that collects
Periodic Payments due under the Note and this Security Instrument and performs other mortg~e loan
servicing obligations under the Note., this Security Instrument, and Applicable Law. There also might be
one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan
Servicer, Borrower will be given written notice of the change which wi11 state the name and address of the
new Loan Servicer, the address to which payments should be made and any other information RESPA

0411212442
<IIt,..aA(IL)

(0010).02

! ...... -t.,.~....­
pos" 11 of 15

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Form 3014

1J01

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 16 of 41 PageID #:610

requires in connection with a notice of transfer of servicing. If the I\ute is sold and thereafter the Loan is
serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations
to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not
assumed by the Note purchaser unless otherwise provided by the Note ;"lurchaser.
Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an
individual litigant or the member of a class) that arises from the other party's actions pursuant to this
Security Instrument or that alleges that the other party has breached any provision of. or any duty owed by
reason of. this Security Instrument, until such Borrower or Lender has notified the other party (with such
notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the
other party hereto a reasonable period after the giving of such notice to take corrective action. If
Applicable Law provides a time period which must elapse before certain action can be taken, that time
period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and
opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to
Borrower pursuant to Section 18 shall be deemed to satisfY the notice and opportunity to take corrective
action provisions of this Section 20.
21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those
substances defined as toxic or hazardous substances. pollutants, or wastes by Environmental Law and the
following substances: gasoline, kerosene. other flammable or toxic petroleum products, toxic pesticides
and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials;
(b) "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that
relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response
action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental
Condition" means a condition that cart cause, contribute to, or otherwise trigger an Environmental

Cleanup.
Borrower shall not cause or permit the presence. use, disposal, storage, or release of any Hazardous
Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do,
nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental
Law, (b) which creates an Environmental Condition, or (c) which. due to the presence, use. or release ofa
Hazardous Substance. creates a condition that adversely affects the value of the Property. The preceding
two sentences shall not apply to the presence, use, or storage on the Property of small quantities of
Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to
maintenance ofthe Property (including, but not limited to, hazardous substances in consumer products),
Borrower shall promptly give Lender written notice of (a) any investigation. claim, demand. lawsuit
or other action by any governmental or regulatory agency or private party involving the Property and any
Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any
Environmental Condition. incl uding but not limited to, any spilling. leaking. discharge, release or threat of
release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a
Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified
by any governmental or regulatory authority. or any private party, that any removal or other remediation
of any Hazardous Substance affecting the Property is necessary. Borrower shall promptly take all necessary
remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on
Lender for an Environmental Cleanup.

0411212442
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i'l>IJ" 12 0115

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Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 17 of 41 PageID #:611

NON-UNIFORM COVENANTS. Borrower and Lender further covenant :;md agree as folloVit'S:
22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following
Borrower's breach (If any covenant or agreement in tbis Security Instrument (but not prior to
acceleration under Section 18 unless Applicable Law pro"ides othenvise). The notiee shall specify: <a)
the default; (b) the action required to cure tbe default; (c) a date, not Jess than 30 days from the date
the notice is given to Borrower, by which tbe default must be cured; and (d) that faUure to cure tbe
default on or before the date specified in tbe notice may result in acceleration of the sums secured by
tbis Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice sbaJl
further inform Borrower of the right to reinstate after acceleration and the right to assert in tbe
foreclosure proeeeding tbe non-existence of a default or any otber defense of Borrower to aeceleration
and foreclosure. If the default is not cured on or before the date specified in the notice, Leader at its
option may require immediate payment ill fun of an sums secured by tbis Security Instrument
without furtber demand and may foreclose this S~urity Instrument by judicial proceeding. Lender
shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22,
including. but not limited to, reasonable attorneys' fees and costs of title evidence.
23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this
Security Instrument. Borrower shall pay any recordation costs. Lender may charge Borrower a fee for
releasing this Security Instrument. but only if the fee is paid to a third party for services rendered and the
charging ofthe fee is permitted under Applicable Law.
24. Waiver of Homestead. In accordance with Ulinois law. the Borrower hereby releases and waives

an rights under and by virtue ofthe JIIinois homestead exemption laws.

25. Placement of Collateral Protection In.surance. Unless Borrower provides Lender with evidence
of the insurance coverage required by Borrower's agreement with Lender. Lender may purchase insurance
at Borrower's expense to protect Lender's interests in Borrower's collateraL This insurance may. but need
not, protect Borrower's interests. The coverage that Lender purchases may not pay any claim that
Borrower makes or any claim that is made against Borrower in connection with the collateral. Borrower
may later cancel any insurance purchased by Lender, but only after providing Lender with evidence that
Borrower has obtained insurance as required by Borrower's and Lender's agreement If Lender purchases
insurance for the collateral, Borrower will be responsible for the costs of that insurance, induding interest
and any other charges Lender may impose in connection with the placement of the insurance, until the
eft"ective date of the cancellation or expiration of the insurance. The costs ofthe insurance may be added to
Borrower's total outstanding balance or obligation. The costs of the insurance may be more than the cost of
insurance Borrov.'er may be able to obtain on its own.

04U212442
•

..eA(IL)
®

(0010).02

Pago130115

Form 3014

1101

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 18 of 41 PageID #:612

BY SIGNING BELOW, Borrower accepts and agrees to the termc; and covenants contained in this
Security Instrument and in any Rider executed by Borrower and recorded with it.

Witnesses:

,
,
/ ........ // L / t :4'.'

!...;'_i_.;..~-!~:...-,_'t_~~._ __r""",:,/:"",·_,_-_._ _ _ _ _
../_·_/
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Michael. A James

(Seal)

·Borrower

-------------~------(~)
-Borrower

- -_ _ _ _ _ _ _ _ _ _ _ (Seal)

__________________ (Seal)

-Borrower

·Borrower

(Seal)

_ _ _- - - -_ _ _ _ _ _ _ _ (Seal)

-BorroW1lr

-Borrower

(Seal)

(Seal)

-Borrower

-Borrower

0411212442
•

-6AIIL)
®

(0010).07

Page 14 01 15

Fonn 3D 14

1101

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 19 of 41 PageID #:613

ILLINOIS,_J~~=,,. ;: .\5-=~=-+- ='_'(1Q-j.+--_ _ _--:::-=-----=~:__:_-,
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71.---:---:-----;-;:--:-:-----:'~----~--=-----

STATE OF

___

Connty 55:
• a Notary Public in and for said county and

state do hereby certifY that Michael A James

,
personally known to me to be the same person(s) whose name(s) subscribed to the foregoing instrument,
me
appeared be~o this day in person, and acknowledged th~shelthCY signed and delivered the said
instrument hi her/their free and voluntary act, f!r~qsxs and purposes !erein_ ,e1 forth. ~ v
Given und my hand and official seal. this ~ hl~' \
day of '-Jon
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lAV\YLQ

My Comm;,,'" Exp;res,

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My ()wmp/Mim . , . 07/1911.010

0411212442
Initial,:

_~A(IL) {OC10).D2

!'age 15 0115

i'

.+/.­

Form 3()14

1101

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 20 of 41 PageID #:614

STEW ART TITLE
GUARANTY COMI'ANY
11EREIN CAUJ:,\D TllE COMPANY

COMMITMENT - LEGAL D£!:SCRIPTION

THE NORTJI 25 FEET 2 INCliES OF nm SOUTH 5(1 FEET OF LOT I. [N SNOW AND DICKL"'fSONS
SUBDlY ISfON OF LOT 2 IN CLEA VHR AND TAY LORS SU))DlVlSION OF THE NORTH I12 OF THE
NORTHEAST 114 OF THE SOUTHWEST 114 AND THE NORTH 1/2 OF THE SOUTUWEST 114 OF THE
SOUTHEAST 114 OF SECTION 3, TOWNSIIIP 38 NORTH, RANGE 14 EAST OF THE THIRD PRlNC1PAL
MERIDIAN, IN COOK COUNTY, ll.,l JNOIS.

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 21 of 41 PageID #:615

I ~~I~I
000#:

ASSIGNMENT OF MORTGAGE

r-------------------------Statebridge Loan Number: 6124
MIN: 100200104112124421

1102634079 Fee: $58.00

Eugene -Gene" Moore RHSP Fee:$10,OO
Oook Oounty Recorder of Deeds
Date: 01/26/20,1 01:38 PM Pg: 1 of 2

MERS Phone: [phone]

FOR VALUE RECEIVED, MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., ("MERS") as nominee
for STATEBRIDGE COMPANY, LLC its successors and assigns, hereby assign and transfer to THE BANK OF
NEW YORK MELLON TRUST COMPANY, NATIONAL ASSOCIATION, AS GRANTOR TRUSTEE OF THE
PROTIUM MASTER GRANTOR TRUST the note dated January 15, 2008, in the face amount Eight
hundred fifty thousand dollars and zero cents $850,000,00, executed by: Michael James secured by a
mortgage of even date there within a nd recorded on the 25 day of January, A.D. 2008 in the office of
the Recorder of Cook County, State of Illinois in the Book

-=-

at Pages -=-or at Document#

0802536007 .
More commonly referred to as: See Attached Exhibit A
EXECUTED this

-.1::L day of January, 2011,
MORTGAGE ELECTRONIC
REGISTRATION SYSTEM, INC. AS
NOMINEE FOR STATEBRIDGE COMPANY, LLC
(TRANSFEROR)

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"........
"':!'...~.~ ___ .•._
BY: ___,_'_,__________________
"'"-:1,..

David McDonnell as Assistant Secretary

RETURN TO:

JAROS, TITTLE & O'TOOLE, 20 N. Clark, #510, Ce~~S40~160602

State 0/ Colorado
County 0/ Denver

}
} ss:

On the ~ day of January A.D. 2011, before me, a Notary Public, personally appeared

David McDonnell, to me known, who being duly sworn, did say that he or she is the Assistant

Secretary of Mortgage Electronic Registration Systems, Inc., and that said instrument was signed on

behalf of said corporation.

Address of Preparer:
4600 S. Syracuse St.! Suite 800
Denver, CO 80237
Attn: Final Documents Dept.

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 22 of 41 PageID #:616

LEGAL DESCRIPTION RIDER
PARCEL 1: THE NORTH 25 FEET 2 INCHES OF THE SOUTH 50 FEET OF LOT 1 IN SNOW AND
DICKINSON'S SUBDIVISION OF LOT 21N CLEAVER AND TAYLOR'S SUBDIVISION OF THE NORTH
1/2 OF THE SOUTH % OF THE EAST 1/2 OF THE SOUTHWEST 1/4 AND THE NORTH 1/2 OF THE
SOUTH 112 OF THE WEST % OF THE SOUTHEAST 1/4 OF SECTION 3, TOWNSHIP 38 NORTH,
RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS
PARCEL 2: THE SOUTH 24 FEET 10 INCHES OF LOT 11N SNOW AND DICKENSON'S SUBDIVISION
OF LOT 21N CLEAVER AND TAYLOR'S SUBDIVISION AFORESAID, IN COOK COUNTY. ILLINOIS

PIN#20-03-414-003-0000
Corrunonly known as 4511 S. KING DR.. CHICAGO, IL. 60653

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 23 of 41 PageID #:617
.'

aDJUSTABLE

RATE NOTE e

MIN l002001()4112.124421

(LIBOR Index· Rate Caps)

nils NOTE CONTAINS PROVISIONS ALLOWING FOIl CHANGES IN MY lNT£R.EST ItATE AND

MY MOtmlLY PAYMENT. THIS NOTI LIMITS THE AMOUNT MY INTEREST RATE CAN

CHANGE AT ANY ONE TIM! ANb THE MA.X.IMUM AND MtNlMUM RATE J MUST PAY.

January 15.1008

Cbkago

IL

(Date)

(City)

(Slate)

4511 So1ltll King Drive, Cbicago. IL 60653
{Property Address>

1. BORROWER'SPROMlSE TO PAY

In return for a loan that I have received, I promise to pay U.s. S 850,100.06 (this amount is calli:d
p1us inl.erest, to the order of the Lender. The Lencler is Eqai'h-st Corporation. I will make all
payments under dlis Note in the form ofcash, check or money order. I understand that the Lender may tnu\sfer this
Note. The Lender or &.nyooc who talcC$ this Note by transfer and who is entitled to receive payments under this
Note is caned the "Note Holder.
~princ:ipal").

It

•

1. INTEREST
"
Interest will be charged on unpaid principal until the mIl amoUiit of principal has been paid. 1wm pay interest
at a yearly rate of 8.450 %. The interest rate I will pay may ch~ in accordance witb Section 4 of the Note.
1be interest rate requb:ed by this Section 2 and Section 4 ofthis Note is the rate I will pay both before and after
any default desaibed in Section 7(8) of this Note.
3.PAY~NTS

(A) Time aDd Place of Payments

I will pay principal and interest by making a payment every month.

Twill make my monthly payments on the 1st dl}' of ea(.:b month beginning em March t.2_

I will make tbese payments every month until I have paid all oftbi principal aDd interest and an~ other
tharg.=s described below that Imay owe unda-this Note. Each monthly payment win be applied as of Its sc:bedulcd
duc date and will be applied to interest before principal. If on Ftbruary 1, ~038 • I stin owe amounts underthi.
Note, I will pay those amounts in fun on that date, which is called the "Maturity Date."
I will make my monthly payments at
HomEq ServieiDl. Casb Administnfton DepL. Mail Code CA 3358, 4837 Watt Ave., NoMb HIghI.Dds. CA
95660. or at II. different place ifrequired by tile Note Holder.
(B) AmOlUl1 or My IQItlaI Monthly Payments
Bach of my initial monthly payments win be in the amount of U.S. $ 6,505.67 •

This amount may dwlge.

(C) Monthly Payment Cbaages
. • .•
..

Changes in my monthly payment will reflect changes III the unp~ld pnncipal of my loan and m the mterest

rate that I must pay. The NoteRolder will detamme my new int~ Tate and the cbanged amount ofmy monthly
payment in accordance with Section 4 of this Note.
. , ...
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Mllltislate Adjustable Rate: Notc·Libor Index

EF&iSN (9107) (lllinois Version)

Lom Number 0411212442

P~lof4

Initials~

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 24 of 41 PageID #:618

+

4. INTEREST RATE AND
V PAYMENT CHANGES
•
(A) a.anae Data
The interest rate ] will pay may change on February 1.2011. end on that day every s'ixth month thereafter.
Each date on wbich my interest rate could ebange is called a "Change Date.
,';
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.

(B) Tb~ Judex

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'

Beginning with the first Change Date. my interest rate will be based on an Index:. The "index" is the average

ofinterbank Dffered rates for six-month u.s. dollar-denominated deposits in the London market (ULrBOR", as
published in The Wall Street Journal. The most rec:ent Index figure available as of tile first business day orthe
month immediately preeed:ing the month in which the Change Date occurs is called the "Current (mlc"",
[fthe Index is no longer available. the Note Holder win choose a new index that is based upon comparable
infonnatjo~ The Note Holder will give me notice oftbis choice.
(C) CaleulatioD ofOaDges

Before each Change Date, the Note Holder will calculate my new interest rate by adding 6.300 percentage
points ( 6.300 %) to the o.renl Index. The Note Holder win then round the result ofthis addilion to the nearest
one-eighth ofone percentage point (0.125%). Subject to the limits stated in Section 4{D) below, this rounded
amount will be my new interest rate until !he next Change Date.
The Note Holder win then dc:tennine the amount oftbe monthly payment that would be sufficient to repay the
unpaid principal that I am cxpected to owe at the Change Date in full on the Maturity Date at my new jnll=rest rate
in substantially equal payments. Tho result ofthis calculation will be the ~ew amount of my monthly payment.
(D) Limits on I.tcrest Rate Changes

The interest rate I am required to pay at the first Change Date will not be greater than 11.45CWo or less than
8.450 %. Thereafter. my interest rate will never be increased or decreased on any single ChaD~e Dalc by more than
ono percentage »Oint (l.OOO%) fi'om the rate of interesl I have been paying for the preceding SIX months. My
interest·rate will neyer be greater than 1,4.450% or less than the initial inte:= rate provided for in Sec:tion 2 of this
Note.
(E) Effective Date orOanee
:'
My new interest rate will become effective on each Change Dat,e~ I wiII pay the amount of my new monthly

payment beginning on the tim monthly payment date after the CbimgeDate until the amount of my monthly
payment changes again.
(F) Notice of Cbanges

The Note Holder will deliver or mai Ito me a notice of IIJ'I)' cbanges in my interest rate and the amount ofmy
monthly payment before the effective date (If any change. The notice will include information required by la.w to
be given me and also the title and telephone Dumber of a person who will answer any question I may have regarding
the notice.
S. BORROWER RJGHTTO PREPAY
I have the right to mak:e payments ofprincipal lit any time before they are due. A payment of principal only is known
as a "prepayment." When I make a prepaYment, 1will tell tbe Note Holder in writing that I am doing so. I may make a
full prepayment or partial prepayments without paying any prepaym=m charge. The Note Holder will. use aU my
prepayments to reduce the amount ofprinclpal that I owe under this Note. IfI lnake a pama.! prepayment. there Will be
no chlJIlges in the due dates of my monthly payment unless the Note Holder agrees 10 wnting to those.: changes. My
partial payment may reduce the amount of my monthly payments after the first Change Date following my partial
prepayment. However, any reduction due to my partial prepayment may be offset by an interest rate increase.

at

EF815N,

Loan Nwnbel' 04112J2442

Page 2 of4

InitialS~

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 25 of 41 PageID #:619

6. LOAN CHARGES
...
•
If a law. which applies to
and which sets maximmn loan charges, j~ly interpreted so that the
interest or otber loan charges collected or to be collected in connection with this Joan exceed the pennitted limits.
then: (i) any such loan charge shall be reduced by the amount necessat)' to reduce the charge to the penni'lted limit
and (0) any sums already collected from me which exceeded pennitted limits wi II be reiUnded to me. The Note
Ho-ldermay choose to make this refund by reducing the principal I owe under this Note or by making a direct
payment to me, Ifa refund reduces principal, the reduction will be treated as a partial prepayment.

tBan

7. BORROWER'S FAILURE TO PAY AS REQUIRED
{A} Late Chl~ for Overdue PaymeRts
Irthe Note Holder has not received the full amount ofany monthly payment by the end of 15 calendar days
after the date it is due, I will pay a lale charge to the Note Holder. The amOWlt of the charge wiU be 5.00 % of my
overdue payment DfprincipaJ and interest I will pay this late charge but only once on each late payment.
(B) Derault

If I do not pay the full amount of each monthly payment on the date it is due.l wm be in default.

:1 ,

(C) Notice of DefauJt

If I am in default. the Note holder may send me a wrineo notf2e tening me that if I do not pay the overdue
amount by a certain date, the Note H()lder may require me to pay immediately the full amount of principal which
has net been paid and all the interest that lowe on thal amount That date must be at least. 30 days after the date: on
which the notice is delivered or mailed to me.
(D) No Waiver By Note Holder

Even if, at a time when I am in default. the Note HoIder does DOt require me to pay immediately in full as
described above. the Note Holder will still have the right to do so iff am in default at a later time.
(E) PaymeDt of Note Holder', Costs and Expenses
If the Note Holder has required me to pay in full as described above. the Note Holder will have tho right to be
paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by app!fcable

law. Those expenses include. for example, reasonable attorneys' fet:.s.

(F) Disbolored or RetUrDed Check Fee
If any payment that J make to the Note Holder by cheek:. order or draft drawn on any ~ank.. credit union,
savings aDd loan association or other financial institution for the payment ofmoney is dishonored or returned to the
Note He Ider for any reason, including insufficient funds, I will pay the Note Holder upon demand 8 dishonored or
returned check fee ofS25.00 orthe sum of all costs and expenses., inc1u~ing reasonable attorney's fees, incurred by
the Note Holder in connection with the collection of the amount for which the chcclc., order or draft was written,

whichever is greater.

8. GiVING OF NOTICES
Unless applicable 1aw requires a different method. any notice that must be given to me under Ibis Note will
be given by delivering it or by maUing it by fim class mail to me at the Property Address above or at II different
address ifl give the Note Horder a notice afmy different address.
Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing
it by fITSt class mail to the Note Holder at the address stated in Scction'3(A) above or at a different address in am
given a notice of that different address.
" I'; ,
9. OBLIGATIONS OF PERSONS UNDER THIS NOTE
Ifmore than one person sigus this Note, each pemm is fully and personally obligated to keep all of the
promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor.
surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations.
includin~ tbe obligations of Ii guarantor, surety or endorser ofthis Note, is also obUgaled to k~ aU of the promises
made in 1his Note. The Note Holder may enforce its rights under this Note against each person mdividually or
against an ofus together. This means that anyone of tIS may be required to pay all of the amounts owed under this

Note.

'

11). WAIVERS
I and any other person who bas obligations under this Note waive the rights of presentment and notice of
dishonor, "Presentment" means the right to require the Note Holder to demand payment ofamounts..4.u~. ~Q~<;e Qf
disbonor" means the right to require the Note Holder to give notice to other- persons that amounts due have not been

paid.

.

.EF81stL'
Loan Number: 0411212442

InitlalS~

Page 3 of4
I

'.

:,:

"I'

. !Ai"~.;

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 26 of 41 PageID #:620

UN~~~S!~~!:.ent

11.
with limited, variations in SO,n;le jfJrisdictl [n addition 10 the protections
given to the Note Holder under this Note, a Mortgage, Deed ofTruSt or Se.::urity Doed (the "Security Instrument"),
dated the same.date IS this Note, protects the Note Holder 'from poss ibJe le»;SC$ which might rcsuIt if I do' not keep .
1M promises that 1make in this Note. That Security Instrument describes bow and under what oondmons I may be
required to make immediate payment in full ofall arnOUI'lls I owe under this Note. Some ofrbose conditions are

described as follows:
,
TraDI(er of the Property or a BeDeficiallnttrest 10 Borrower.lfall or any pert nfthe Property or any
interest in the Property is sold or transfi:md «(II' if Borrower is not a natural person and a beneficial interest in
Borrower is sold or trmsferred), without Lender's prior written consent, Lender may. at its option. require
immediate payment in fun of aU sums secured by ti'lis Security Instrument However. this option shall oot be
ex.ercised by Lender ifexercise is prohibited by Applicable Law. Lender also l\h all not CXercLsc this option it: (II)
Borrower causes to be submitted to Lender infonnation required by Lender to evaluate the intended Ilansferee as if
a new loan were being made to the tl'ltmferee; and (b) Lender reasonably determines that Lender's security win not
be impain=d by the loan assumption and that the risk of 8 breach ofany covenant or agreement in this Security
Instrument is acceptable to Lender.
To the extent pennitted by Applic:able Law. Lender may charge a reasonable fee lIS a condition to Lender's
consent to the loan assumption. Lender may also require the Ilansferee to sign an assumption agreement that is
acc~table to Lender and that obligates the Ilansferee to keep all the promises and agreements made in the Note and
in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument
unless Lender releases Borrower in writing.
If Lender cxerc:ises the option to require immediate payment in full. Lender shall give Borrower notice of

acceleration. The notice shall provide a period ofnot tess than 30 days from the date the notice is given in

accordance with Section. IS within wbic:h Borrower must PlY all sums secured by this Security Instrument If

Borrower fails to pay these sums prior to tbe expiration of this period, Lender may invoke any remedies pennitted

by this Security Instl\lment without Ruther notice or demand on Borrower.

;.

;:

"WITNESS THE RAND(S) AND SEAL(S) OF TIJE UNDERSIGNED"

~#,!}-

(Seal)
.8otrowcr

·BOII'OWCI'

(Seal)

Michael A James

(Seal)

(Seal)
~BOf1'!)WIIr

.BOIl'OYIer

(Seal)

(Seal)

. :.,'

. -

EF81SN (11106)

Loan Number 0411212442

.-

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Page 4 of4

... .

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 27 of 41 PageID #:621

ADJUSTABLE INTEREST RATE FLOOR Addendum to Note

This ADnJSTABLE INTEREST RATE FLOOR ADDENDUM is made this 15th day ofJanuary, Z008,
and amends the Note in the amount of U.S. $ 858.000.00 dated the same date and given by the person(s)
who signs below (the flBorrower(sn to EquiFirst Corporation (the "Lender").
In addition to the agreemen1S and provisions made in the Note and the Security Instrument, and not
withstanding any provisions to the contnuy contained in said Note Dr the Security Instrument, both the
Borrower{s) and the Lender fUrther agree as follows:

AD.roSTABLE INTEREST RATE FLOOR
11IIS LOAN HAS AN JNTEREST RATE "FLOOR" WInCH WILL UMIT

nm

AMOUNT TIlE

INTEREST RATE CAN DECREASE. REGARDLESS OF ANY CHANGES TN TIlE INDEX, THE
J

INTEREST RATE DURING 1lffi TERM OF TIllS LOAN WILL NEVER BB LESS THAN TIm TNlTIAL
INTEREST RATE PROVIDED FOR TN SECTION :2 OF THE NOTE.

;

i40114&
Michael A James

0411212442
BF06D (1219~)

-­

:.

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 28 of 41 PageID #:622

ADJUSTABLE RATE RIDER to Sec,Jrity Instrument
(LIBOR 6 Month Index - As Published in The Wall Street Journal- Rate Caps)

([0 Be Recorded Together with Security Instrument)
THIS ADJUSTABLE RATE RIDER is made this 15th day of January. 2008 and incorporated into and shall
be deemed to amend and supplement the Mortgage, Deed ofTrust or Security Deed (the "Security [nstrument")
of the same date given by the undersigned (the "Borrower") to secure Borrower's Adjustable Rate Note (the
"Note") to EquiFirst Corporation (the "Lender") of the same date and covering the property described in the
Security Instrument and located at:
4511 South King Drive,

Chicago. IL 60653

(property address)
THE NOTE CONTAINS PROVISIONS ALLOWlNG FOR CHANGES IN THE INTEREST RATE AND
THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST
RATE CAN CHANGE AT ANY Ol\'E TIME A,.~D THE MAXIMUM AND MINIMUM RATE THE
BORROWER MUST PAY.

ADDITIONAL COVENANTS.

In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further

covenant and agree as follows:

A. INTEREST RATE AND MO:STHLY PAYMENT CHANGES
The Note provides for an initial interest rate of 8.450 %
rate and the monthly payment as follows:

The Note provides for changes in the interest

(A) Change Dates
The interest rate I will pay may change on February 1, 20 11 and on that day every sixth
month thereafter. Each date on which my interest rate could change is called a "Change
Date",
(B) The Index

Beginning with the first Change Date. my interest rate 'will be based on an Index. 111e
"Index" is the average of interbank offered rates for six-month U.S. dollar#denominated
deposits in the London market ("L1BOR"), as published in The Wall Street Journal. The
most recent Index figure available as of the first business day of the month immediately

preceding the month is which the Change Date OCCUTS is the "Current Index."

If the Index is no longer available, the Note Holder will choose a new index that is based

upon comparable infonnation. The Note Holder wi11 give me notice ofthis choice.

(q Calculation of Changes
Before each Change Date, The Note Holder wil1 calculate my new interest rate by adding 6.300
percentage points (6.300 %) to the Current Index. The Note Holder will then round the result of
this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits

stated. in Section 4(0) below, this rounded amount will be my interest rate until the next Change

Date.

The Note Holder will then detennine the amount of the monthly payment that would be

sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full 0:"

the Maturity Date at my new interest rate in subsrantial1y equal payments. The result of thIS

calculation will be the new amount of my monthly payment.

(D) Limits on Interest Rate Changes

The interest rate 1 am required to pay at the first Change Date will not be greater than
11.450% OT less than 8.450% . Thereafter, my interest rale wi!! never be increased or
decreased on any single Change Date by more than one percentage point(s) (l.OO~) the rate of
interest 1 have been paying for the preceding six months. My interest rate "::111 never b~
greater than 14.450 % or less than the initial interest rate provided for in SectIon 2 ofthlS
Note.
0411212442

HOOtl (05102)

Page 1 on

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 29 of 41 PageID #:623

(E) Effective Date of Changes
My new interest rate win become effective on each Change Date. I will pay the
amount ofmy new monthly payment beginning on the tlrst monthly payment date after
the Change Date until the amount ofmy monthly payment changes again.
(F) Notice of Changes
The Note Holder will deliver or mail to me a notice of any changes in my new interest
rate and the amount of my monthly payment before the effective date of any change.
The notice will include infonnation required by law to be given me and a1so the title
and tel~phone number of a person who will answer any question I may have regarding
the notIce.

B. TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROVt'ER
Uniform Covenant 17 of the Security Instrument is amended to read as follows:
Transfer of Property or a Beneficial Interest in Borrower.
If all or any part of
the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or
transferred and Borrower is not a natural person), without Lender's prior written consent, Lender may,
at its option, require immediate payment in full of all sums secured by this Security Instrument.
However, this option shall not be exercised by Lender if exercise is pTOhlbited by federal law as of the
date ofthis Security Instrument. Lender also shall not exercise this option if: (a) Borrower causes to be
submitted to Lender infonnation required by Lender to evaluate the intended transferee as if a new loan
were being made to the transferee; and (b) Lender reasonably detennines that Lender's security will not
be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this
Security Instrument is acceptable to Lender.
To the extent permitted by applicable law, Lender may charge a reasonable fee as a condition to
Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption
agreement that is acceptable to Lender and that obligates to the transferee to keep all the promises and
agreements made in the Note and in the Security Instrument. Borrower will continue to be obligated
under the Note and this Security Instrument unless Lender releases Borrower in writing.
If Lender exercises the option to require immediate payment in full, Lender shall give Borrower
notice of acceleration. The notice shall provide a period of not less than 30 days from the date the
notice is delivered or mailed within which Borrower must pay IIll sums secured by this Security
Instrument. If Borrower fails to pay these sums prior to the expiration of this period. Lender may
invoke any remedies permitted by this Security Instrument without funher notice or demand on
Borrower.

BY SIGNING BELOW, Borrower accepts and agrees to the tenns and covenants contained in
this Adjustable Rate Rider.

Michael A Jam

0411212442
EF0612 (5102)

Page 2 of2

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 30 of 41 PageID #:624

,

.

ADJUSTABLE INTEREST RATE FLOOR Rider to Security Instrument
(To Be Recorded Together with Security Instrument)

This ADJUSTABLE INTEREST RATE FLOOR RIDER is made this 15th day of January,
2008 and amends the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") dated
the same date and given by the person(s) who signs below (the "Borrower(s)") to
EquiFirst
Corporation (the "Lender") to secure repayment of a Note in the amount of U.S $ 850,000.00 .

In addition to the agreements and provisions made in the Note and the Security Instrument,
and notwithstanding any provisions to the contrary contained in said Note or the Security
Instrument, both the BorrowerCs) and the Lender further agree as follows:

ADJUSTABLE INTEREST RATE FLOOR
TIllS LOAN HAS AN INTEREST RATE "FLOOR" WHICH WILL LIMIT TI-IE AMOUNT THE
INTEREST RATE CAN DECREASE. REGARDLESS OF ANY CHANGES IN THE INDEX,
THE INTEREST RATE DURING THE TERM OF TATS WAN WILL NEVER BE LESS THAN
THE INITIAL INTEREST RATE PROVIDED FOR IN SECTION 2 OF THE NOTE.

Michael A James

0411212442
EF059 (Rev 05102)

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 31 of 41 PageID #:625

Note Endorsements
Borrower(s): Michael A James
Property Address: 4511 South King Drive, Chicago, IL 60653

Without Recourse, Pay to the Order of:

EquiFirst Corporation

~C\''>.i.n \t,~

By

Karen Ruff

Vice President

0411212442
EF5nendr (12/05)

Page I of I

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 32 of 41 PageID #:626

6124 payments. txt
CUSTOMER ACCOUNT ACTIVITY STATEMENT

P6931-45C
REQ BY STAT082010

DATE 08/23/10
PAGE 01

MICHAEL A JAMES
4511 SOUTH KING DRIVE
CHICAGO
IL 60653

*******************************************************************************
------------------------ CURRENT ACCOUNT INFORMATION -------------------------­
DATE
TOTAL
PRINCIPAL
LOAN
CURRENT
PAYMENT
PAYMENT
& INTEREST INTEREST
PRINCIPAL
ESCROW
LOAN NUMBER
DUE
AMOUNT
PAYMENT
RATE
BALANCE
BALANCE
0411212442
01-01-09
6758.79
0.00 8.45000
0.00
*******************************************************************************
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

08-23-10

01-09 132 LATE CHARGE ADJUSTMENT
0.00
0.00
0.00
0.00
301.13 1 LATE CHARGES
08-23-10 01-09 132 LATE CHARGE ADJUSTMENT
0.00
0.00
0.00
0.00
999.99 1 LATE CHARGES
08-23-10 01-09 156 LOAN TRANSFERRED
0.00 844,629.48
0.00 14,352.82 18,365.38­
0.00
0.00
NEW PRINCIPAL/ESCROW BALANCES
08-23-10 01-09 168 REPAY OF ESCROW ADVANCE
0.00
0.00
0.00 14,352.82-14,352.82
08-12-10 00-00 632 STATUTORY EXPENSE DISBURSEMENT
800.00
0.00
0.00
0.00
08-12-10 00-00 630 ATTORNEY ADVANCE DISBURSEMENT
400.00
0.00
0.00
0.00
07-07-10 00-00 630 ATTORNEY ADVANCE DISBURSEMENT
375.00
0.00
0.00
0.00
06-15-10 01-09 132 LATE CHARGE ADJUSTMENT
0.00
0.00
0.00
0.00 1,951.68 1 LATE CHARGES
05-21-10 00-00 631 PROPERTY PRESERVATION DISBURSEMENT
10.50
0.00
0.00
0.00
04-22-10 00-00 631 PROPERTY PRESERVATION DISBURSEMENT
10.50
0.00
0.00
0.00

THANK YOU FOR YOUR RECENT INQUIRY

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.
P6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 02

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION

page 1

EFFECTIVE DATE
OF TRANSACTION

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 33 of 41 PageID #:627

TRANSACTION
AMOUNT
03-25-10 00-00
10.50
03-10-10 00-00
110.00
03-02-10 00-00
7.00
02-23-10 01-09
5.00
02-23-10 02-10
5.00­
02-23-10 00-00
10.50
02-16-10 01-09
2,376.61
02-16-10 02-10
2,376.61­
02-05-10 00-00
440.00
02-01-10 01-09
4,847.80
01-19-10 00-00
10.50
01-11-10 01-09
5.00
01-11-10 08-09
5.00­
12-22-09 00-00
10.50
11-30-09 00-00
7.00
11-23-09 00-00
10.50

PRIN PDf
BALANCE

6124 payments. txt
ESCROW PDf -------------OTHER------------­
INTEREST BALANCE
AMOUNT CODE/DESCRIPTION

PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
161 ESCROW ADVANCE
0.00
0.00
5.00
317 TAX DISBURSEMENT
0.00
0.00
5.00­
14,352.82- NEW PRINCIPAL/ESCROW BALANCES
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
161 ESCROW ADVANCE
0.00
0.00 2,376.61
312 TAX DISBURSEMENT
0.00
0.00 2,376.61­
14,347.82- NEW PRINCIPAL/ESCROW BALANCES
630 ATTORNEY ADVANCE DISBURSEMENT
0.00
0.00
0.00
173 PAYMENT
0.00
0.00
0.00 4,847.80
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
161 ESCROW ADVANCE
0.00
0.00
5.00
317 TAX DISBURSEMENT
0.00
0.00
5.00­
11,971.21- NEW PRINCIPAL/ESCROW BALANCES
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00

THANK YOU FOR YOUR RECENT INQUIRY

631

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.
p6931-45c
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 03

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT
11-12-09 01-09
1,873.10
11-12-09 08-09
1,873.10­
10-21-09 00-00

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10

TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE
161

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

ESCROW ADVANCE
0.00
0.00 1,873.10
312 TAX DISBURSEMENT
0.00
0.00 1,873.10­
11,966.21- NEW PRINCIPAL/ESCROW BALANCES

631 PROPERTY PRESERVATION DISBURSEMENT
page 2

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 34 of 41 PageID #:628

10.50
10-06-09 01-09
13,517.58
09-23-09 00-00
7.00
09-22-09 00-00
95.00
09-21-09 00-00
10.50
09-16-09 01-09
0.00
08-21-09 00-00
10.50
08-17-09 01-09
0.00
08-03-09 00-00
1,227.00
07-24-09 00-00
10.50
07-16-09 01-09
0.00
06-29-09 00-00
10.50
06-16-09 01-09
0.00
05-28-09 00-00
10.50
05-18-09 01-09
0.00

6124 payments. txt
0.00
0.00
0.00
173 PAYMENT
0.00
0.00
0.00 13,517.58
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
632 STATUTORY EXPENSE DISBURSEMENT
0.00
0.00
0.00
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
THANK YOU FOR YOUR RECENT INQUIRY

LATE CHARGES

LATE CHARGES

LATE CHARGES

LATE CHARGES

LATE CHARGES

PER YOUR REQUEST, HOMEQ SERVICING

HAS REVIEWED YOUR PAYMENT HISTORY.

p6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 04

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE

00-00
525.00
05-15-09 00-00
330.00
05-13-09 01-09
7,308.75
05-13-09 08-08
5.00­

632

05-13-09

02-09
5.00­

317

05-13-09 05-09
4,740.58­

316

05-15-09

630
161
317

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

STATUTORY EXPENSE DISBURSEMENT
0.00
0.00
0.00
ATTORNEY ADVANCE DISBURSEMENT
0.00
0.00
0.00
ESCROW ADVANCE
0.00
0.00 7,308.75
TAX DISBURSEMENT
0.00
0.00
5.00­
10,093.11- NEW PRINCIPAL/ESCROW BALANCES
TAX DISBURSEMENT
0.00
0.00
5.00­
10,088.11- NEW PRINCIPAL/ESCROW BALANCES
TAX DISBURSEMENT
0.00
0.00 4,740.58­
10,083.11- NEW PRINCIPAL/ESCROW BALANCES
Page 3

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 35 of 41 PageID #:629

6124 payments. txt
TAX DISBURSEMENT
0.00
0.00 2,558.17­
5,342.53- NEW PRINCIPAL/ESCROW BALANCES
00-00 631 PROPERTY PRESERVATION DISBURSEMENT
10.50
0.00
0.00
0.00
01-09 152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1 LATE CHARGES
0.00
01-09 152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
0.00
325.28-1 LATE CHARGES
00-00 601 MISC. CORPORATE DISBURSEMENT
95.00
0.00
0.00
0.00
00-00 631 PROPERTY PRESERVATION DISBURSEMENT
10.50
0.00
0.00
0.00
01-09 152 LATE CHARGE ASSESSMENT
0.00
0.00
325.28-1 LATE CHARGES
0.00
0.00
00-00 601 MISC. CORPORATE DISBURSEMENT
7.48
0.00
0.00
0.00
01-09 152 LATE CHARGE ASSESSMENT
0.00
0.00
325.28-1 LATE CHARGES
0.00
0.00
THANK YOU FOR YOUR RECENT INQUIRY

05-13-09 05-09
2,558.1704-27-09
04-16-09
03-16-09
03-06-09
02-27-09
02-17-09
02-17-09
01-16-09

316

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.
P6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 05

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT
12-31-08 01-09
7.50
12-31-08 12-08
0.00
12-31-08 12-08
6,758.79

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE
173

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

PAYMENT
7.50 Z IVR PAYMENTS
0.00
0.00
0.00
168 REPAY OF ESCROW ADVANCE
253.12
0.00
0.00
253.12172 PAYMENT
253.12
554.17
5,951.50
2,784.36- NEW PRINCIPAL/ESCROW BALANCES
844,629.48
12-01-08 12-08 173 PAYMENT
0.00
7.50 Z IVR PAYMENTS
0.00
7.50
0.00
12-01-08 11-08 172 PAYMENT
0.00
6,505.67
550.29
5,955.38
845,183.65
NEW PRINCIPAL/ESCROW BALANCES
11-25-08 11-08 168 REPAY OF ESCROW ADVANCE
0.00
0.00
0.00 8,883.52- 8,883.52
11-25-08 11-08 163 HAZARD INS REFUND DEPOSIT
8,883.52
0.00
0.00 8,883.52
3,037.48- NEW PRINCIPAL/ESCROW BALANCES
11-03-08 11-08 173 PAYMENT
7.50 Z IVR PAYMENTS

0.00
0.00
7.50
0.00
11-03-08 10-08 172 PAYMENT

0.00
6,505.67
546.45
5.959.22
NEW PRINCIPAL/ESCROW BALANCES
845,733.94
10-20-08 10-08 161 ESCROW ADVANCE
11,921.00
0.00
0.00 11,921.00

10-20-08 08-08 351 HAZARD INS DISBURSEMENT

page 4

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 36 of 41 PageID #:630

6124 payments.txt
0.00 11,921.00­
11,921.00- NEW PRINCIPAL/ESCROW BALANCES
10-16-08 10-08 152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
0.00
325.28-1 LATE CHARGES
09-30-08 10-08 173 PAYMENT
7.50
0.00
0.00
0.00
7.50 Z IVR PAYMENTS
09-30-08 09-08 172 PAYMENT
6,505.67
542.62
5,963.05
0.00
846,280.39
NEW PRINCIPAL/ESCROW BALANCES
THANK YOU FOR YOUR RECENT INQUIRY
11,921.00-

0.00

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.
p6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 06

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT
09-03-08
09-02-08

09-08
0.00

09-08
7.50
09-02-08 08-08
6,830.95

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE
173

INTEREST

PAYMENT
0.00

0.00

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION
0.00

325.28 1 LATE CHARGES
325.28­

PAYMENT
7.50 Z IVR PAYMENTS
0.00
0.00
0.00
172 PAYMENT
538.83
5,966.84
0.00
325.28
846,823.01
NEW PRINCIPAL/ESCROW BALANCES
THANK YOU FOR YOUR RECENT INQUIRY
173

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.

page 5

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 37 of 41 PageID #:631

6124-JAMEs_payment History.txt
p6931-45c
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 01

MICHAEL A JAMES
4511 SOUTH KING DRIVE
CHICAGO
IL 60653

*******************************************************************************
------------------------ CURRENT ACCOUNT INFORMATION -------------------------­
DATE
TOTAL
PRINCIPAL
LOAN
CURRENT
PAYMENT
PAYMENT
& INTEREST INTEREST
PRINCIPAL
ESCROW
LOAN NUMBER
DUE
AMOUNT
PAYMENT
RATE
BALANCE
BALANCE
0411212442
01-01-09
6758.79
0.00 8.45000
0.00
*******************************************************************************
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER--- --------­
BALANCE
AMOUNT CODE/DESCRIPTION

08-23-10

01-09 132 LATE CHARGE ADJUSTMENT
0.00
0.00
0.00
0.00
301.13 1 LATE CHARGES
08-23-10 01-09 132 LATE CHARGE ADJUSTMENT
0.00
0.00
0.00
0.00
999.99 1 LATE CHARGES
08-23-10 01-09 156 LOAN TRANSFERRED
0.00 844,629.48
0.00 14,352.82 18,365.38­
0.00
0.00
NEW PRINCIPAL/ESCROW BALANCES
08-23-10 01-09 168 REPAY OF ESCROW ADVANCE
0.00
0.00
0.00 14,352.82-14,352.82
08-12-10 00-00 632 STATUTORY EXPENSE DISBURSEMENT
800.00
0.00
0.00
0.00
08-12-10 00-00 630 ATTORNEY ADVANCE DISBURSEMENT
400.00
0.00
0.00
0.00
07-07-10 00-00 630 ATTORNEY ADVANCE DISBURSEMENT
375.00
0.00
0.00
0.00
06-15-10 01-09 132 LATE CHARGE ADJUSTMENT
0.00
0.00
0.00
0.00 1,951.68 1 LATE CHARGES
05-21-10 00-00 631 PROPERTY PRESERVATION DISBURSEMENT
10.50
0.00
0.00
0.00
04-22-10 00-00 631 PROPERTY PRESERVATION DISBURSEMENT
10.50
0.00
0.00
0.00
~
THANK YOU FOR YOUR RECENT INQUIRY
PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.
p6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 02

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
DESCRIPTION
CODE
page 1

EFFECTIVE DATE
OF TRANSACTION

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 38 of 41 PageID #:632

6124-JAMES_payment History.txt
TRANSACTION
AMOUNT
03-25-10

00-00
10.50
03-10-10 00-00
110.00
03-02-10 00-00
7.00
02-23-10 01-09
5.00
02-23-10 02-10
5.0002-23-10

00-00
10.50
02-16-10 01-09
2,376.61
02-16-10 02-10
2,376.6102-05-10

00-00
440.00
02-01-10 01-09
4,847.80
01-19-10 00-00
10.50
01-11-10 01-09
5.00
01-11-10 08-09
5.0012-22-09

00-00
10.50
11-30-09 00-00
7.00
11-23-09 00-00
10.50

PRIN PDf
BALANCE

INTEREST

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

631

PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
161 ESCROW ADVANCE
0.00
0.00
5.00
317 TAX DISBURSEMENT
0.00
0.00
5.00­
14,352.82- NEW PRINCIPAL/ESCROW BALANCES
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
161 ESCROW ADVANCE
0.00
0.00 2,376.61
312 TAX DISBURSEMENT
0.00
0.00 2,376.61­
14,347.82- NEW PRINCIPAL/ESCROW BALANCES
630 ATTORNEY ADVANCE DISBURSEMENT
0.00
0.00
0.00
173 PAYMENT
0.00
0.00
0.00 4,847.80
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
161 ESCROW ADVANCE
0.00
0.00
5.00
317 TAX DISBURSEMENT
5.00­
0.00
0.00
11,971.21- NEW PRINCIPAL/ESCROW BALANCES
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00

THANK YOU FOR YOUR RECENT INQUIRY

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.

P6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 03

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT
11-12-09 01-09
1,873.10
11-12-09 08-09
1,873.10-

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

161

ESCROW ADVANCE
0.00
0.00 1,873.10
312 TAX DISBURSEMENT
0.00
0.00 1,873.10­
11,966.21page 2

NEW PRINCIPAL/ESCROW BALANCES

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 39 of 41 PageID #:633

10-21-09

00-00
10.50
10-06-09 01-09
13,517.58
09-23-09 00-00
7.00
09-22-09 00-00
95.00
09-21-09 00-00
10.50
09-16-09 01-09
0.00
08-21-09 00-00
10.50
08-17-09 01-09
0.00
08-03-09 00-00
1;227.00
07-24-09 00-00
10.50
07-16-09 01-09
0.00
06-29-09 00-00
10.50
06-16-09 01-09
0.00
05-28-09 00-00
10.50
05-18-09 01-09
0.00

6124-JAMEs_payment History.txt
PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
173 PAYMENT
0.00
0.00
0.00 13,517.58
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
632 STATUTORY EXPENSE DISBURSEMENT
0.00
0.00
0.00
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1
THANK YOU FOR YOUR RECENT INQUIRY

631

LATE CHARGES
LATE CHARGES

LATE CHARGES

LATE CHARGES

LATE CHARGES

PER YOUR REQUEST, HOMEQ SERVICING

HAS REVIEWED YOUR PAYMENT HISTORY.

p6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 04

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE

00-00
525.00
05-15-09 00-00
330.00
05-13-09 01-09
7,308.75
05-13-09 08-08
5.00­

632

05-13-09

02-09
5.00­

317

05-13-09 05-09
4,740.58­

316

05-15-09

630
161
317

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

STATUTORY EXPENSE DISBURSEMENT
0.00
0.00
0.00
ATTORNEY ADVANCE DISBURSEMENT
0.00
0.00
0.00

ESCROW ADVANCE
0.00 7,308.75
0.00
TAX DISBURSEMENT
5.00­
0.00
0.00
10,093.11­ NEW PRINCIPAL/ESCROW BALANCES

TAX DISBURSEMENT
5.00­
0.00
0.00
10,088.11­ NEW PRINCIPAL/ESCROW BALANCES

TAX DISBURSEMENT
0.00
0.00 4,740.58­
page 3

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 40 of 41 PageID #:634

05-13-09 05-09
2,558.17­
04-27-09
04-16-09
03-16-09
03-06-09
02-27-09
02-17-09
02-17-09
01-16-09

00-00
10.50
01-09
0.00
01-09
0.00
00-00
95.00
00-00
10.50
01-09
0.00
00-00
7.48
01-09
0.00

6124-JAMEs_payment History.txt
10,083.11- NEW PRINCIPAL/ESCROW BALANCES
316 TAX DISBURSEMENT
0.00
0.00 2,558.17­
5,342.53- NEW PRINCIPAL/ESCROW BALANCES
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1 LATE CHARGES
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1 LATE CHARGES
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
631 PROPERTY PRESERVATION DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1 LATE CHARGES
601 MISC. CORPORATE DISBURSEMENT
0.00
0.00
0.00
152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
325.28-1 LATE CHARGES

THANK YOU FOR YOUR RECENT INQUIRY

PER YOUR REQUEST, HOMEQ SERVICING

HAS REVIEWED YOUR PAYMENT HISTORY.

p6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 05

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT
12-31-08

01-09
7.50
12-31-08 12-08
0.00
12-31-08 12-08
6,758.79

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE
173

INTEREST

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -------------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION

PAYMENT
7.50 Z IVR PAYMENTS
0.00
0.00
0.00
168 REPAY OF ESCROW ADVANCE
0.00
0.00
253.12253.12
172 PAYMENT
253.12
554.17
5,951.50
2,784.36- NEW PRINCIPAL/ESCROW BALANCES
844,629.48
12-01-08 12-08 173 PAYMENT
7.50 Z IVR PAYMENTS
0.00
7.50
0.00
0.00
12-01-08 11-08 172 PAYMENT
0.00
6,505.67
550.29
5,955.38
NEW PRINCIPAL/ESCROW BALANCES
845,183.65
11-25-08 11-08 168 REPAY OF ESCROW ADVANCE
0.00
0.00
0.00 8,883.52- 8,883.52
11-25-08 11-08 163 HAZARD INS REFUND DEPOSIT
8,883.52
0.00
0.00 8,883.52
3,037.48- NEW PRINCIPAL/ESCROW BALANCES
11-03-08 11-08 173 PAYMENT
7.50 Z IVR PAYMENTS
0.00
0.00
7.50
0.00
11-03-08 10-08 172 PAYMENT
0.00
546.45
5,959.22
6,505.67
NEW PRINCIPAL/ESCROW BALANCES
845,733.94
10-20-08 10-08 161 ESCROW ADVANCE
11,921.00
0.00
0.00 11,921.00
page 4

Case: 1:11-cv-05905 Document #: 36-2 Filed: 10/01/12 Page 41 of 41 PageID #:635

6124-JAMEs_payment History.txt
HAZARD INS DISBURSEMENT
0.00
0.00 11,921.00­
11,921.00­ NEW PRINCIPAL/ESCROW BALANCES
10-16-08 10-08 152 LATE CHARGE ASSESSMENT
0.00
0.00
0.00
0.00
325.28-1 LATE CHARGES
09-30-08 10-08 173 PAYMENT
7.50
0.00
0.00
0.00
7.50 Z IVR PAYMENTS
09-30-08 09-08 172 PAYMENT
6,505.67
542.62
5,963.05
0.00
846,280.39
NEW PRINCIPAL/ESCROW BALANCES
¥
THANK YOU FOR YOUR RECENT INQUIRY
10-20-08 08-08
11,921.00­

351

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.
P6931-45C
REQ BY STAT082010

CUSTOMER ACCOUNT ACTIVITY STATEMENT

DATE 08/23/10
PAGE 06

MICHAEL A JAMES
LOAN NUMBER: 0411212442
PROCESS
DATE

DUE
DATE

TRANSACTION
AMOUNT
09-03-08
09-02-08

09-08
0.00

09-08
7.50
09-02-08 08-08
6,830.95

ACTIVITY FOR PERIOD 09-01-08 - 08-23-10
TRANSACTION
TRANSACTION
CODE
DESCRIPTION
PRIN PDf
BALANCE
173

INTEREST

PAYMENT
0.00

0.00

EFFECTIVE DATE
OF TRANSACTION

ESCROW PDf -- ----------OTHER------------­
BALANCE
AMOUNT CODE/DESCRIPTION
0.00

325.28 1 LATE CHARGES
325.28­

PAYMENT
7.50 Z IVR PAYMENTS
0.00
0.00
0.00
172 PAYMENT
538.83
5,966.84
0.00
325.28
846,823.01
NEW PRINCIPAL/ESCROW BALANCES
THANK YOU FOR YOUR RECENT INQUIRY
173

PER YOUR REQUEST, HOMEQ SERVICING
HAS REVIEWED YOUR PAYMENT HISTORY.

page 5