Bank of Hope as successor to Foster Bank v. Tie et al

Filing 3

MOTION by Plaintiff Bank of Hope as successor to Foster Bank for judgment by confession (Attachments: # 1 Exhibit)(Wright, Alexander)

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Bank of Hope v. Ka Soen Tie, et al. BANK OF HOPE'S MOTION FOR ENTRY OF JUDGMENT BY CONFESSION EXHIBIT "A" IN THE UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS, EASTERN DMSION Bank of Hope as successor to Foster Bank, ) Plaintiff, . ) ) ) ) No. ~ ) Ka Soen Tie, Lushia Yun Tie and Fox deaners Co.,) ) Defendant(s). ) AFFIDAVIT OF SONG CHO I, Song Cho, being first duly swam on oath, depose and state as follows: 1. I am over 18 years of age and competent. 2. This affidavit is made on my personal knowledge and the documents contained herein, and if sworn as a witness, I could and would competently testify to the facts contained herein and documents attached hereto. 3, I am employed by Bank of Hope as successor to Foster Bank (herein "Bank"), Plaintiff in the above-captioned cause, as a First Vice President. One of my duties as First Vice President is to review loan accounts to ensure that timely payments are made and to ensure compliance with other loan terms. I am authorized to make this affidavit. 4, In my capacity as First Vice President, I am personally familiar with the files, ledgers and records kept by the Bank and have access to all documents processed by the Bank that relate to the loan made by it to Ka Soen Tie and Lushia Yun Tie (collectively, "Borrowers") and guaranteed by Fox deaners Co. ("Guarantor"). 5. My full and careful review of the loan documents, itemization of interest charges, late fees and principal balance in the above-captioned suit relating to Borrowers and Guarantor shows the following: A On or about February 24, 2006, Ka Soen Tie and Lushia Yun Tie (collectively, "Borrowers") executed a promissory note ("Note") in favor of Plaintiff in the original amount of $140,000.00. A true and correct copy of the Note is attached hereto as "Exhibit 1." B. To secure the Note, Borrowers executed a mortgage ("Mortgage") on the property commonly known as 219 E. 69th St., Chicago, IL 60637. A true and correct copy of the Mortgage is attached hereto as "Exhibit 2." C. On or about April 28, 2011, Borrowers executed an Amendment/Extension to the Note (" Amendment") adjusting the interest rate and extending the maturity date of the Note to March 1, 2016 ("Maturity Date"). A true and correct copy of the Amendment/Extension is attached hereto as "Exhibit 3." D. Borrowers defaulted on the Note by failing to make the August 1, 2013 payment and on or about June 13,' 2014, Borrowers entered into a Forbearance Agreement ("Forbearance"), under which Plaintiff agreed to forbear enforcing its rights under the Note pursuant to the terms of the Forbearance. A true and correct copy of the Forbearance is attached hereto as "Exhibit 4." E. To induce the Bank to enter into the Forbearance, Guarantor executed a Girnmercial Guaranty(" Guaranty"), under which Guarantor guaranteed full and prompt payment of the indebtedness due and owing under the Note. A true and correct copy of the Guaranty is attached hereto as part of "Exhibit 4." F. Borrowers and Guarantor defaulted on the Note by failing to pay the balance in full on or before the Maturity Date. G. As of January 25, 2017, the amount in default under the Note is $154,134.66, which includes principal in the amount of $118,289.09, interest in the amount of $14,577.92, late charges of $8,037.99, enviromnental charges of $9,350.00, appraisal fees of $3,300.00, force placed insurance fees of $366.92 and other fees of $212.74. The Note has a per diem interest rate of $16.43, with attorneys' fees and costs to be added pursuant to separate affidavits from Ashen IFaulkner. 6. The matters set forth in this Affidavit are true in substance and in fact and are based upon my own personal lmowledge and upon my own personal review of Borrowers' foan records, including the Loan Payoff Statement dated January 25, 2017 ("Payoff') now held and maintained in the normal and ordinary course of the Bank's business. A true and correct copy of the Payoff is attached hereto as "Exhibit 5." 7. I prepared the attached Payoff in the regular course of business of the Bank and it was in the regular course of the Bank's business at or around the date the Payoff was generated to produce such documents. 8. The Payoff was generated from the Bank's electronic accounting/payment management system Fiserv (herein "Fiserv") which automatically calculates, tracks and maintains balances and interest owed based upon parameters inputted into the system as set forth in the underlying obligation, in this case the Note, and triggered by payment activity in relation to the obligation. 9. It is the Bank's regular and ordinary course of business to enter incoming credits, payments or costs into Fiserv at or near the time payment or credit are received and all credits and payments made to the Bank for application to the indebtedness of the Note are reflected in the statement. Fiserv is recognized as standard in the finance industry and produces an accurate record in the form of the Payoff when properly employed and I properly employed and operated Fiserv to generate the Payoff. Fiserv operates on computing equipment recognized as standard in the finance industry and is utilized in the regular course of the Bank's business. 10. The Bank has perlormed all that has been required of it to be perlormed under the Note. The Bank has demanded that Borrowers and Guarantor fulfill their obligations under the Note, Guaranty and Forbearance, however, they have refused and continue to refuse to fulfill their obligations. 11. Under penalties provided by law pursuant to Section 1-109 of the Illinois Code of Civil Procedure and 28 U.S. Code § 1746, the undersigned certifies that the statements set forth in this instrument are true and correct. By: < . --·c2,.cC" SongCho, First Vice President, Bank of Hope Dated: January ·7,t:; , 2017 Bank of Hope v. Ka Soen Tie, et al. AFFIDAVIT OF SONG CHO EXHIBIT "1" "' fOSTlRBANK 5225 NKEOZlf CH!CAGO, ll 606Z5 KA SOEN TIE; LUSH IA lUN TIE 3006 SOUTH LYMAN STREET CIIICAGO, IL 60608 / Loan Number !OOQBlH DateOHHOOR Maturity Date OHl-2011 Loan Amount t l!0,000 00 Renewal Of LENDER'S NAME AND ADDRESS "You" means the lender, l1S auccessors and assigns. BORROWER'S NAME AND ADDRESS "I" lncludaa uch borrower above, Jointly and severally, For value received, I promise to pay to you, or your order, at your edd1ess llsted above the PRINCIPAL sum of PDF bundrtd for Iv lhouun4 tod np/JOO =----------------------------Dollars $JJQ.ll0Jl.Dl._ _ _ _ _ _ _ _ _ _ __ l]I Single Advance: I will receive ell of this princlpel sum on 02.24·200§ , No additional advances are contemplated under this note. 0 Multlple Advance: The principal sum shown above is the maximum amount of principal I can borrow under this note. On _ _ _ _ _ _ _ _ __ _______ ! will receive the amount of$ and future principal advances are contemplated. Condition,: The conditions for future advanca, ere ------------f'--------------------- 0 Open End Credit: You and I agree that I may borrow up to the maximum amount of principal more than one time. This feature Is subject to D all other conditions and expires on Closed End Credit: You and I 8gree that I may borrow up to the maximum only one time (and subject to all other oondUlons), INTEREST: I egree to pay Interest on the outstandinO principal balance from 02·?4·2006 7000% at the rate of per yeer until Vatlabl• Rate: This rate may than change as stated below, 0 Index Rate: The future rate will be _ _ _ _ _ _ _ _ _ _ _ the following index r a t e : - - - - - - - - - - - - - - - - - - 0 D D 0 No Index: The future rate will not be subject to any internal or external Index, It wilt be entirely in your concrol. Frequency and Timing: The rate on this note i,;ey change as often as - - - - - - - - - - - - - - - - - - - - - - - - A change in the interest rate will take effect - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Limitations: During the term of this loan, the applicable ennuol Interest ra!e will not be more then - - - - - - - - - - % or less than _ _ _ _ _ _ _ _ _ _ %, The rate may not ohongo more then _ _ _ _ _ _ _ _ _ _ _ % e a c h - - - - - - - - - - - Effect of Variable Rate: A change in tho interoot rate will have the following effect on the peyments: D The amount of the final payment will change. 0 The amount of each scheduled paymant will change. D ACCRUAL METHOD: Interest wm be calculated on a basis, POST MATURITY RATE: I agree to pay Interest on 1he unpaid balance of this note owing ofter maturity, and until paid In full, as stated below: D on the seme fixed or variable rate basis in effect before maturity !as indicated above). 00 at a rate equal to 6'1' OYER JHE INTEREST RATE IDENTIFIED IN THIS NOTE [XI LATE CHARGE: If a payment Is made more than 5 days after It Is due, I agree to pay a late charge of 5-000'1' of thp !•IP :1m2unl with a min of m.o 0 RETURN CHECK CHARGE, 1 agree to pay tho greater of $ _-,-_ _ _ _ _ _ or ell costs end expenses incurred In connection with any payment 0 on this loen thet is returned beceuse it has been dishonored: ADDITIONAL CHARGES: In addition to Interest, I egree to pay Iha following charges which O are D are not included In the principal amount ebove: PAYMENTS: I agree to pay this note es follows: 59 monthly p1ym1nu ol t999.79 h1~inn!ng 04·01·2006 and 1baUoon paymtn1 of t12Ut0.16 on 03-01·2011, ADDITIONAL TERMS: I.First mortgagt and an miQnmtnl GI 11nl11g1fn1t a commmlal pro pail}' lm!ed at 2Ul E. 6'9th St., Chicago, ll 60637 2.Tbi1dmo1tgag, a;1tn11 a m!d1ntlalp1optrty louted at 3006 S. tyman St., Chicago, IL 60606 Prepayment PH1lllu: II !hi ltnder reeelvu • p11paymtnl on orbtfoft lht ht 1nnimu1y of th, d1tt of 1ht first p1ym1nt du1 datt ol the Note, th1 Penalty lhallbt equal to 5'.4 of tht 11m1lning Principal bal,rnc, of lht Nolt. U1h1 Ludn m1ivn I p11paym1nl aflu !ht ht 1nnlms11y but on or btfo1t the 2nd annivmary of th, dats ol lht ftut p1ym1n1 dut d111 of 1ht Nol 1, th1 Ptna!ty shaH bt eqUll lo-4% of the r1m1ining Principal balance of tht Not1. It th1 llnd1r1teeivts I pn1paym1nt 1lter the 2nd annimurv but onw blfo11 lh1 3rd tnnlmnry ol tht date GI tht li1s1 p1ym1n1 dut dill of tht Nott, the P1n.11ty shin bl 1qu1l lo 3% of th, 11m1lnfn; Pdncip1l b1!1nc1 of th• Nolt. I! th1 lude1 rmlvn I p11p1rmant 11111 tht 3rd annlvana1y but on 01 bt!Olt the 4th annivarury of !ht date ol tllt liut p1ym1nl due d1t, of the Nole, th• Penalty JhtTI b1 equal to 2% of tilt 11m1inlng l'findp1! balance of tilt Note. II the lender rettivu 11111paym1nt ifter the 4th ;annlvermy GI the dillt ol l111 IJfll p1ymant due dale or lhl Nott, but -· ·'·· Note. PURPOSE: The purpose of this loan is TO PAYOFF CURRENT MORTGAGE ANO CASH SECURITY: This note ls separately secured by (describe separate document by type and date): 0 0 CONFESSION OF JUDGMENT: I agree to the terms of the "Confession of Judgment" paragraph on pege 2, 0 tThl1 so<:tlon 1, fer you, lnt11n1I UP. f111u,a 10 HSI I opuu, ncu,rw documonl doH not mun \ht a~reamontwlll not ucu" 1Ms noi..l SIGNATURES: I AGREE TO THE TERMS OF THIS NOTE !INCLUDING THOSE ON PAG \~ havo·rece~ d a copy on today's date. 1 \ Signature for lender ,J,, KA SOEN TIE , f;y lUSHIA YUN TIE Chriitine Yoon UNIVERSAL NOTE " C,1984, 11191 81n~111S 1tem1 lnq. St.Cloud MN , canned and Verified by: BBCN\JK05706 on 3/17/2014 UH·I (page 1 of 21 DEFINITIONS: As used on page 1, •(E • means the terms that apply to this loan, "I," "me• or "my" means each Borrower who signs this note and each other person or legal entity (including guarantors, endorsers, end sureties) who agrees to pay this note (together referred to 111 "us"J, "You" or "your" means the Lender end its successors 11nd assigns. APPLICABLE LA'!/: The law of the state of Illinois will govern this note, Any term of this note which is contrary to appUcable law will not be effective, unless the law permits you end me to agree to such a variation, If any provision of this agreement cannot be enforced according to It, terms, this fact wlll not effect the enforceability of the remainder of this agreement. No modification of this 11gre11ment mey be mado without your 11xpr11ss wrilten consent. Time Js of the essonce Jn this agreement. COMMISSIONS OR OTHER REMUNERATION: I understand end egrae tha1 any insurance premiums paid to Insurance companies as pert of this note will Involve money retained by you at paid back to yau os cammlssians or other remunerot!on. In addition, I understand end agree thot some other poyments to third parties as part of this note may also involve money retained by you or peld beck to you as commissions or other temuneration. PAYMENTS: Each peyment I make on this note will first reduce the amount I owe you for chnrges which are neither inte,est nor principal. The remoinder of each payment will then reduce accru9d unpaid lnterest, and then unpaid prlnclpal. If you and I agre9 to II different applloatlon of payments, we will describe our agreement on this note. I may prepay 11 pert of, or the entire belanc9 of this loan without penalty, unl9ss W9 specify to th9 contrary on this note. Any petll9I prepaym9nt wm not eKcuse or reduce any later scheduled payment until this not9 is paid in full {unl9SS, when I mak9 th9 prepayment, you end I agree in writing to the contrary}. INTEREST: lnt9rest accrues on the p1incipel remaining unpaid from tfma to time, until paid in full. If I rec9ive the principal in more than one edvance, each advance wlH start to earn inte,est only when I receive the advance. The interest ,ate in effect on this note et any given time will apply to the entire principal advanced at that time. Notwithstanding anything to the contrary, I do not ogree to pay and you do not Intend to charge any rate of Interest that is higher than the maximum rate of inlerest you could cherge und9r appUcable law for the extension of credit the! is agreed to here (91ther before or after maturity). lf any notice of interest accrual ill sent and is in error, we mutually agree to correct It, end if you actually collect more Interest than allowed by law end this agreement, you agree to refund it to me. INDEX RATE: Tho ind9x will serve only as a dovice for setting the rat9 on this note. You do not guarante9 by selecting this Index, or the margin, that the ,11111 on this note will be the same rate you charge on any other loans or cless of loans- to me or other borrowers. ACCRUAL METHOD: The emount of Interest that I will pay on this loan wifl be calculated using the intere11t ret9 end accrual method stated on page 1 of this note. For the purpose of Interest calculation, the sccruel method wlll determine the number of days in a "year," If no accrual m9thod is steted, then you may use eny reasonable accrual m9lhod for oalouleting interest. POST MATURITY RATE: For purposes of deciding when the "Post Maturity Rate" lahown on page 1} applies, the term "maturity" masns the date of the last scheduled payment indicated on page 1 of this note or th9 date you accehtrate payment on the note, whichever is earlier. SINGLE ADVANCE LOANS: If this is a single advance loan, you and I expect that you will make only 0119 advance of principal. How9ve1, you may add other amounta to the principal ii you make any payments described in the MPAYMENTS BY LENDER" paragraph below. MULTIPLE ADVANCE LOANS: If this is a multiple edvonce loan, you end I e11pect that you will make more than one advance of principal. If this is closed end credit, 1epoylng a pert of tho principal wl11 not entitl9 me to addl1lonel credit. PAYMENTS BY LENDER: If you are authorized to pay, on my b9half, charges I em obHgated to pay (such as property insurance premiums), th9n you may trnet those payments made by you es advances and add them to th9 unpaid principal under this note, or you may demand immediet9 peymont of lh9 charges. SET·OFF: I agree that you may Ht off any amount due and payebl9 undor this note ag9lnst any ,ight I have to receive money from you. "Right to receive money fram you" means: {1) any deposit account belence I hsve with you: {2) any money OW9d to me on an item presented to you or In your possesslan for collection or exchang9; and (3) any 1epurchas9 agreement or other nondeposlt obligelion. "Any amount due and payable under this note" means the total amount of which you aro ent1tfed to demand paymant under tha terms of this note at the time you set off, This total includes any balance lhe du9 date for which you properly accelerate under this note. If my right to receive money from you is also owned by someone who has not agre9d to pay this note, your right of wm apply to my intete$t in the obHgation and to any other amounts I could withdraw on my sole request or endorsement. Your right of set·ofl do9s not apply to an eccount or other obllgetfon wh9re my rights ere only as a repres.entetive. It also do&a not apply to eny Individual Retirement Account or other t&K·deferred retlrem9nt eccount. You will not he liebl9 for the dishonor of any ch9ck when the dishonor occurs because you set off this debt against any of my accounts. I agree to hold you harm19SS from any such claims arising es a result of your t1xercise of your right of set·Off, OAT£ OF TRANSACTION PRINCIPAL ADVANCE • • I '' ' '• '' • !SB llOMOWER'S REAL ESTATE OR RESIDENCE SECURITY: If this note is secured by reel estate ore residence that is personal property, the existence of II defou!t and your remedies for euch a default will be det9rm!ned by applicable law, by the terms of any separate instrument creating the security Interest and, to the eKtent not prohibitod by law and not contrary to the terms of tha separate security instrum9'1t, by the ~Default~ and ·Remedies" peregraphs hertin. DEFAULT: I will be In d9fault lt any one or more ol the following occur: {11 f fail to make a payment on time or In the amount due; 121 I fell to ke9p the property Insured, if required: (31 I fail to pay, or ke9p any promise, on any debt or egreemant I have with you; {41 any other creditor of mine ettampts to collect any debt I owe him through court proce9dlngs; (611 di9, am declared inoompetenl, make an usignment for lhe benefit of creditors, or become insolvent (either becaus9 my liebllitl9s e11oeed my assets or I 11m unabl9 to poy my debts es thoy b9com9 duo); 16} I make ony written statement or provide 11ny financial Information thet is unuue or Inaccurate et the time it was provid9d; 17) I do or fell to do something which causes you to believe that you will hav9 difficulty coJl9ctlng th1.1 emount I OW9 you; (8) any collateral s9curing this note is used in a manner or for a purpose which threatens confiscation by a l1.1gal authority; (91 I change my nama or essum9 on additional name without first not!lylng you before meking such e change; (10) I fall to plant, cultivate and harvest crops [n due s9ason if I em a producer of crops; {11) any loan proceeds ere used for o purpose that wnt contribute to e11cesslve erasion of highly erodlble land or to the conversion of wetlands to produce an eg,icu\tural commodity, as further eKplained In 7 C.F.R. Pe,t 1940, Subpart G, EKhlbit M. REMEDIES: If I em In defeult on this note you have, but are not limited to, . the following remedies: (1)You may demand immediate payment of ell I OW9 you under this note (principal, accrued unpaid interest end other eccru9d charges). !2) You may set off this debt ageinst 11ny right I have to the payment of money from you, subJect to th9 terms of the "Sat•OW paragraph herein. 13) You may demand security, edd!tional security, or additional parti9s to be obligated to pay this note as a condition for not using any other uimedy. (41 You may refuse to make advances to me or el!ow purchases on credit by me, 151 You may use eny rem9dy you heve under state or federel law. By s9l9cting any ona or more of those remedies you do not give up your right to Inter Us9 any other remedy, By waiving your fight to declare 6" event to be e default, you do not waive your right ta tater consider the event as II defoult If it continues or happens ega!n. CONFESSION OF JUDGMENT: lf agreed on page 1, then, In addition to your remedies listed herein, I authorize any attorney to eppenr in any court of record having Jurisdlotron over this matter and to confess Judgment, without process, against me, in fevor of you, for eny unpaid princfpal, acc1ued Interest end accrued charges due on this agreement, together with collection costs including reasonable attorney's fees. COLLECTION COSTS AND ATTORNEY'S FEES: I agree to pay all costs of colt9ction, repl9vin ar any other or similar type of coat if 1 am In default. In addition, if yau hire an attorney to collect this note, I also agree to pay any fee you incur with such attorney plua court cogts (except whore prahlbited by law). To the extent permitted bY, the. United Stetes Bankruptcy Cod9, I elso agree to pay the reasonab e attorney's fea!I and costs you incur to collect this d9bt as awarded by any court ex9rcising jurisdicllpn under the Bankruptcy Code, WAIVER: I give up my rights to require you to do certain things. I will not require you to: 111 demand payment of amounts due tpresentment); (21 obtain olfic1al certification of nonpayment (protest!; or (31 give no1ic9 that amounls due have not been pold tnot!ce of dishonor). I waive any defenses I have based on suretyship or Impairment of collateral, OBLIGATIONS INDEPENDENT: I understand that I must pay this nota ev9n if someone else has also agreed to pey it (by, for exampl9, signing this form or e separate guarantee or endorsement). You may sue me elone, or anyone else who is obligated on thla note, or any numb9r of us together, to col1ac1 this note. You may do so without any notice that it has not been paid (notice of dishonor). You may without notic9 rnlease any party to this agreement without releaslno any othar party. 11 you give up eny of your rights, with or without notice, it wm not alfect my dutr to pay this note. Any extension of new credit to any of ua, or ,enewa of this note by ell or less then ell of us wlll not rel911se me from my duty to pay It. {Of course, you are entitl9d to only ona payment in full) I agree that you may at your option extend thia note or tho debt represented by this note, or any portion of the note or debt, from time to time without limit or notice end for eny t9rm without affecting my liability for p11ym9nt of the note. I wm not assign my obllgatioo under this agreement without your prior written approval. FINANCIAL INFORMATION: I agree to provide you, upon request, any financial statement or Information you may deem necessery, I warrant that the financial statements end Information I provide to you er9 or will be accurate, corr9ct end complete. NOTICE: Unloss oth9rwise required by law, eny notice to me shall be given by dativ9ring it or by mailing It by first class mail addressed to m9 et my last known address. My current eddresa Is on page 1. I agree to inform you In writing of 9ny change In my addr11BS. I will give any notice to you by mailing It first cl11ss to your eddren atated on page 1 ol this agreement, or to any other address that you have designated. PRINClPAt PAYMENTS lfflllALS (~Olf&qulr.dJ • ' • ' • ' • ' I I • IS81 B0nhr5 S UMl'I, Inc .. St. Clo~d. MN Form UN·ll 31812002 canned and Verified by: BBCN\JK05706 on 3/17/20 4 PRINC!PAt 8AtANCE • I '' • • • • I I • INTEREST ""' INTEREST PAYMENTS INTEREST PAID THROUGH: . "• "' " " '' "• "• "' " '• • % % % (p11ge 2 ol 2} Bank of Hope v. Ka Soen Tie, et al. AFFIDAVIT OF SONG CHO EXHIBIT "2" ·~Ei ~ This instrument Doell· 0606842260 Fee: $44.00 FOSTER BANK 5225 N·KEDZIE CHICAGO; IL 60625 ~ Eugen~ "Gene" Moore RHSP Fee:$10.00 cook Counly Recorder of Deeds Date: 0212712006 11 :31 AM Pg: 1 o! 11 When recorded return to {na·me, address): " (j FOSTER BANK 5225 N KEDZIE CHICAGO, IL 60625 LOAN 1000611-1 1 - - - - S t a t e ol·llllnols ------------Space.Above This Line For Recording Oata. - - - - REAL ESTATE MORTGAGE (With Future Advance Clause) k 1. DATE AND PARTIES. The date of this Mortgage (Security Instrument) is _ _ _ __....0"'2,..2,.,4~-~2~0.,.o,,.5._____ and the parties, their addresses-and tax identification· numbers, if required, are as follows: MORTGAGOR: ~ ~- i;\ ~ ~ KA SOEN TIE and LUSHIA YUN TIE, AS JOINT TENANTS 3006 SOUTH LYMAN STREET CHICAGO, IL 60608 0 If checked, refer to the attached Addenqum incorporated herE!in, for additional Mortgagors, their signatures and acknowledgments. LENDER: · FOSiER BANK Organized and existing under the laws of the state of Illinois 5225 N .KEDZIE CHICAGO, IL 60625 2. C!)NVEYANCE. For good and valuable consideration,. the receipt and sufficiency of which is ackhowledged, and to Secure. the Secured Debt (ctefined · beloW) and_. Mortg~gor's performance under this Security ·1nstrumerit, Mortgagot grants, bargains~ sells, conveys, mortgages and warrants to·Lender the following described property: Sl:E ATTACHED EXHIBIT A The property is located in ""-C\.ll"-------,,,--,----------at (Cqunty) 2j 9 EAST 69TH STREET ------~,.,...,,,--.,-~----- , ~G,.H~IC..,A"G~·~o'----=-,------ , Illinois ,.6,,0"'6,,;3*"7_,,.._,.,.-<Address> (City) (Zip Code) Together with all rights,_ easem8nt:$,. appurtenances, roY~lties, mineral rights, oil° and· 9as rights, ~~Ops, timber, all diversion payments or third_ p_atty paymer:its made to crop p'roducers, all water and riparian rights, wells, ditches, reservoifs, and wate.r. stock ·an~ au,"d future imp~oYements, structures; .fixtures, and replacements that may now, or at any timei in the future,·be part of the·real estate described above (all ref8rred to as "Property"). · 3. SECURED DEB'{ AND FUTURE ADVANCES; The term "Secured p~bt" .is. defined as follows: A. Debt ·incurred the terms· ,Qt all .promissory .note'(s}~ conti'ac~(s,, guaranty(les) or other evidence of debt -describ·ed ·below and all their extensions, renewals; modifications or· substitutions. (When :referencing the debts beloV/ir is s0ggest6d: that you. include· ilems such as borrowers·' names, note amouritS, interest rateS; maturity dates, ·-etc.) SEE A TT ACHED, "EXHIBIT B:' A COPY OE THE PROMISSORY NOTE W.l;IICH SECURED B'I' THf$ ,, . MORTGAGE. ~ IU1NOIS- AGRlCULlUAAUCOMMERCIAl REAL ESTATE SECURITY INSTRUMENT !NOT FOR FNMA, r.HLMC, fHA OR VA USE, ANO NOT FOR CONSUMER PURPOSES) ~ IO 1993, 2001 B1nkers Syst•ms, Inc:., S1. Cloud, MN fcum AGCO-RESl·ll 12/27/2002 canned and Verified by: BBCNIJK05706 on 3/12/2014 (pBge t of "81 B. All future advances from Lender to Mortgagor or other future obligations of Mortgagor to Lender under any promissory note, contract, guaranty, or other evidence of debt existing now or executed after this Security Instrument whether or not this Security Instrument ls specifically referenced. If more than one person signs this Security Instrument, each Mortgagor agrees that this Security Instrument will secure all future advances and future obligations that are given to or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. All future advances and other future obligations are secured by this Security Instrument even though all or part may not yet be advanced, All future advances and other future obligations are secured as if made on the date of this Security Instrument. Nothing in this Security Instrument shall · constitute a commitment to make additional or future loans or advances in any amount. Any such commitment must be agreed to in a separate writing. C. All obligations Mortgagor owes to Lender, which now exist or may later arise, to the extent not prohibited by law, including, but not limited to, liabilities for overdrafts relating to any deposit account_agreement between Mortgagor and Lender. 0. All additional sums advanced and expenses incurred by Lender for insuring, preserving or otherwise protecting the Property and its value and any other sums advanced and expenses incurred by lender under the terms of this Security Instrument. This Security Instrument will not secure any other debt if Lender fails to give any required notice of the right of rescission. 4. PAYMENTS. Mortgagor agrees that all payments under the Secured Debt will be paid when due and in accordance with the terms of the Secured Debt and this Security Instrument. 5. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, securitY agreement or other lien document that created a prior security interest or encumbrance on the Property, Mortgagor agrees: A. To make all payments when due and to perform or comply with all covenants. B. To promptly deliver to Lender any notices that Mortgagor receives from the holder. C. Not to allow any modification or extension of, nor to request any future advances under any note or agreement secured by the lien document without Lender's prior written consent. 6. CLAIMS AGAINST TITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities, and other charges relating to the Property when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts are due and the receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Property against any claims that would impair the lien of this Security lnstrument. Mortgagor agrees to assign to Lender, as requested by Lender, any rights, olaims or defenses Mortgagor may have against parties who supply labor or materials to maintain or improve the Property. 7. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt to be immediately due and payable upon the creation of, or contract for the creation of, any lien, encumbrance, transfer or sale of the Property. This right is subject to the restrictions imposed by federal law (12 C.F.R. 591). as applicable. This covenant shall run with the Property and shall remain in effect until the Secured Debt is paid in full and this Security Instrument Is released. B. TRANSFER OF AN INTEREST IN THE MORTGAGOR. If Mortgagor is an entity other than a natural person lsuch as a corporation or other organization), Lender may demand immediate payment if: A. A beneficial interest in Mortgagor is sold or transferred. B. There is a change in either the identity or number of members of a partnership or similar entity. C. There Is a change In ownership of more than 25 percent of the voting stock of a corporation or similar entity. However, Lender may not demand payment in the above situations if it is prohibited by law as of the date of this Security Instrument. 9. ENTITY WARRANTIES AND REPRESENTATIONS. If Mortgagor is an entity other than a natural person (such as a corporation or other organization), Mortgagor makes to Lender the following warranties and representations which shall continue as fang as the Secured Debt remains outstanding: A, Mortgagor is duly organized and validly existing in Mortgagor's state of incorporation or organization. Mortgagor Is in good standing in all states in which Mortgagor transacts business. Mortgagor has the power and authority to own the Property and to carry on its business as now being conducted and, as applicable, is qualified to do so in each state In which Mortgagor operates. · B. The execution, delivery and performance of this Security Instrument by Mortgagor and the obligations evidenced by the Secured Debt are within the power of Mortgagor, have been duly authorized, have received all (page 2 of SJ ~ ©1993, 2001 BanketsSy'1ems,lnc.,St.Cloud,MN FormAGCO,RESHl 12/27/2002 ~canned and Verified by: BBCNIJK05706 on 3/12/2014 , ,. ·; necessary governmental approval, and wilt not violate any provision of law, or order of court or governmental agency. C. Other than previously disclosed in writing to Lender, Mortgagor has not changed its name within the last ten years and has not used any other trade or fictitious name. Without Lender's prior written consent, Mortgagor does not and will not use any other name and will preserve its existing name, trade names and franchises until the Secured Debt is $atisfied. 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Property in good condition and make all repairs that are reasonably necessary. Mortgagor shall not commit or allow any wa·ste, impairment, or deterioration of the Property. Mortgagor will keep the Property free of noxious weeds and grasses. Mortgagor agrees that the nature of the occupancy and use will not substantially change without Lender's prior written consent. Mortgagor will not permit any change in any license, restrictive covenant or easement without Lender's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claims, and actions against Mortgagor, and of any loss or damage to the Property. No portion of the Property will be removed, demolished or materially altered without Lender's prior written consent except that Mortgagor has the right to remove items of personal property comprising a part of the Property that become worn or obsolete, Prov:ided that such personal property is replaced with other personal property at least equal in value to the replaced personal property, free from any title retention device, security agreement or oth~r encumbrance. Such replacement of personal property will be deemed subject to the security Interest created by this Security Instrument. Mortgagor shall not partition or subdivide the Property without lender's prior written consent. Lender or Lender's agents may, at lender's option, enter the Property at any reasonable time for the purpose of inspecting the Property. Lender shall give Mortgagor notice at the time of or before an inspection specifying a reasonable purpose for the inspection. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 11. AUTHORITY TO PERFORM, If Mortgagor fails to perform any duty or any of the covenants contained in this Security Instrument, Lender may, without notice, perform or cause them to be performed. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary for performance. lender's right to perform for Mortgagor shall not create an obligation to perform, and Lender's failure to perform will not preclude Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps necessary to protect lender's security Interest in the Property, including completion of the construction. 12, ASSIGNMENT OF LEASES AND RENTS, Mortgagor assigns, grants, bargains, conveys, mortgages and warrants to Lender as additional security all the right, title and interest in the following (Property). A, Existing or future leases, subleases, licenses, guaranties and any other written or verbal agreements for the use and occupancy of the Property, Including but not limited to, any extensions, renewals, modifications or replacements (leases). B. Rents, issues and profits, including but not limited to, security deposits, minimum rents, percentage rents, additional rents, common area maintenance charges, parking charges, real estate taxes, other applicable taxes, insurance premium contributions, liquidated damages following default, cancellation premiums, "loss of rents" insurance, guest receipts~ revenues, royalties, proceeds, bonuses, accounts, contract rights, general intangibles, and all rights and claims which Mortgagor may have that in any way pertain to or are on account of the us~ or occupancy of the whole or any part of the Property (Rents). In the event any item listed as Leases or Rents is determined to be personal property, this Assignment will also be regarded as a security agreement. Mortgagor will promptly provide Lender with copies of the Leases and will certify these Leases are true and correct copies. The existing Leases will be provided on execution of the Assignment, and all futu're Leases and any other information with respect to these Leases will be provided immediately after they are executed. Mortgagor may collect, receive, enjoy and use. the Rents so long as Mortgagor is not in default. Mortgagor will not collect in advance any Rents due in future lease periods, unless Mortgagor first obtains Lender's written consent. Upon default, Mortgagor will receive any Rents in trust for Lender and Mortgagor will not commingle the Rents with any other funds. When Lender so directs, Mortgagor will endorse and deliver any payments of Rents from the Property to Lender. Amounts collected will be applied at Lender's discretion to the Secured Debts, the costs of managing, protecting and preserving the Property, and other necessary expenses. Mortgagor agrees that this Security Instrument is immediately effective between Mortgagor and Lender and effective as to third parties on the recording of this Assignment. As long as this Assignment is in effect, Mortgagor warrants and represents that no default exists under the Leases, and the parties subject to the Leases have not violated any applicable law on leases, licenses and landlords and tenants. Mortgagor, at its sole cost and expense, will keep, observe and perform, and require all other parties to the Leases to comply with the Leases and any applicable law. If Mortgagor or any party to the Lease defaults or fails to observe any applicable law, Mortgagor will promptly notify Lender. If Mortgagor neglects or refuses to enforce compliance with the terms of the Leases, then Lender may, at Lender's option, enforce c~mpliance. Mortgagor will not sublet, modify, extend, cancel, or otherwise alter the Leases, or accept the surrender of the Property covered by the Leases (unless the Leases so require) without Lender's consent. Mortgagor will not assign, /page 3 o! 8} ~ ©1993, 2001 81nkers Systems, Inc., St. C1oud, MN Form AGCO.RESML 12/27/2002 ~canned and Verified by: BBCNIJK05706 on 3/12/2014 compromise, subordinate or encumber the Leases and Rents without Lender's prior written consent. Lender does not assume or become liable for the Properly's maintenance, depreciation, or other losses or damages when Lender acts to manage. protect or preserve the Property, except for losses and damages due to Lender's gross negligence or intentional torts. Otherwise, Mortgagor will indemnify Lender and hold Lender harmless for all liability, loss or damage that Lender may incur when Lender opts to exercise any of its remedies against any party obligated under the leases. 13. LEASEHOLDS; CONDOMINIUMS; PLANNED UNIT DEVELOPMENTS. Mortgagor agrees to comply with the provisions of any lease if this Security Instrument is on a leasehold. If the Property includes a unit in a condominium or a planned unit development, Mortgagor will perform all of Mortgagor's duties under the covenants, by~taws, or regulations of the condominium or planned unit development. 14. DEFAULT. Mortgagor will be in default if any of the following occur: A. Any party obligated on the Secured Debt falls to make payment when due; B. A breach of any term or covenant in this Security Instrument or any other document executed for the purpose of creating, securing or guarantying the Secured Debt; C. The making or furnishing of any verbal or written representation, statement or warranty to Lender that Is false or incorrect in any material respect by Mortgagor or any person or entity obligated on the Secured Debt; 0. The death, dissolution, or insolvency of, appointment of a receiver tor, or application of any debtor relief law to, Mortgagor or any other person or entity obligated on the Secured Debt; E. A good faith belief by Lender at any time that Lender is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment is impaired or the value of the Property is Impaired; F. A material adverse change in Mortgagor's business including ownership, management, and financial conditions, which Lender in its opinion believes impairs the value of the Property or repayment of the Secured Debt; or G. Any loan proceeds are used for a purpose that will contribute to excessive erosion of highly erodible land or to the conversion of wetlands to produce an agricultural commodity, as further explained in 7 C.F.R. Part 1940, • Subpart G, Exhibit M. 15. REMEDIES ON DEFAULT. In some instances, federal and state law will require Lender to provide Mortgagor with notice of the right to cure or other notices end may establish time schedules for foreclosure actions. Subject to these limitations, if any, Lender may accelerate the Secured Debt and foreclose this Security Instrument in a manner provided by law if Mortgagor is In default. Upon default, Lender shall have the right, without declaring the whole indebtedness due and payable, to foreclose against all or part of the Property and shall have the right to possession provided by law. This Security Instrument shall continue as a lien on any part of the Property not sold on foreclosure. At the option of Lender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately due and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall be entitled to all the remedies provided by law, the terms of the Secured Debt, this Security Instrument and any related documents. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether or not expressly set forth. The acceptance by Lender of any sum in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lender's right to require complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if It continues or happens again. 16. EXPENSES; ADVANCES ON COVENANTS: ATTORNEYS' FEES: COLLECTION COSTS. Except when prohibited by law, Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Security Instrument. Mortgagor will also pay on demand any amount incurred by lender for insuring, inspecting, preserving or otherwise protecting the Property and Lender's security interest. These expenses will bear interest from the date of the payment until paid in full at the highest interest rate in effect as provided in the terms of the Secured Debt. Mortgagor agrees to pay all costs and expenses incurred by Lender in collecting, enforcing or protecting Lender's rights and remedies under this Security Instrument. This amount may include, but is not limited to, attorneys' fees, court costs, and other legal expenses. This Security Instrument shall remain in effect until released. lender agrees to pay for any recordation costs of such release. 17. ENVIRONMENTAL LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) Environmental Law means all federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or Interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (21 Hazardous Substance means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has characteristics which render the substance dangerous or potentially dangerous to tho public health, safety, welfare or environment. The term includes, without limitation, any substances defined as "hazardous material," "toxic substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that: A. Except as previously disclosed and acknowledged in writing to Lender, no Hazardous Substance has been, is, or will be located, transported, manufactured, treated, refined, or handled by any person on, under or about the Property, except In the ordinary course of business and in strict compliance with all applicable Environmental . Law. (page 4 of 8/ ~ S1993, 2001 81nk111 Systems, Inc., St, Cloud, MN Form AGCO·RESHL 12/27/2002 _______________________________. .1~r1 scanned and Verified by: BBCNIJK95706 on 3/12/2014 ._ • B. Except as previously disclosed and acknowledged In writing to Lender, Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. C. Mortg~gor Will immediately notify Lender If (1) a release or threatened release of Hazardous Substance occurs on, under or -about the Property or migrates or threaten,s to migrate from nearby property; or (2) there is a violation of any Environmental Law concerning the rroperty. In such an event, Mortgagor will take all necessary remedial action in accordanc~ with Envi~onr'nental Law. 0. Except as previously disclosed and acknowledged in writing to Lender, Mortgagor and every tenant have been, are and shall remain In full compliance with any applicable Environmental Law and Mortgagor has no knowledge of or reason to believe there is any pending or threatened investigation, claim, or proceeding of any kind relating to ( 11 any Hazardous Substance located on, under or·about the Property; or (21 any violation by Mortgagor or any tenant of any Enviroflmental Law. Mo'rtgagor will immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any such pending or threatened investigation, claim, or proceeding. In such an event, Lender has the right, but not the obli{lation, to participate in any such proceeding including the right to receive copies of any docur'nents relating to such proceedings. E. Except as previously disclosed and acknowledged in writing to lender, there· are no underground storage tanks, private dumps or oPen wells located on or under the Property and no such tank, dump or well will be added unless Lender first consents in writing. F. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all recortls at any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, under or about the Property; (2) the existence, location, nature, and rriagnitude of any Hazard~us Substance that has been released on, under or about the Property; or (31 whether or not Mortgagor and any tenant are In compliance with applicable Environmental Law. G. Upon Lender's request and at any time, Mortgagor agrees, at Mortgagor's· expense, to: eng.age a qualified environmental engineer to prepare an environmental aupit of the Property and t!J submit the resul~s of such audit to Lender. The choice of the environmental engineer who will perform Such audit is subject to- lender's approval. H. Lender may perform any ofMortgago(s obligations Under this section at Mortgagor's expense. I. As a consequence of any breach of any representation, warranty oc promise made in this. section, (1) Mortgagor will indemnify and hold lender and Lender's successors or assigns harmless from· and against all losses, claims, demands, liabilities, damages, cleanup, response and remediation costs, penalties and expenses, including without limitation all costs Qf litigation and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion,· Lender may release 'this Security Instrument and in return Mortgagor will provid·e Lender with collateral of at least equal value to the Property secured by this Security Instrument without prejudice to any of Lender's rights under this Security Instrument. J. Notwithstanding any of the language contained in this Security Instrument to the· contrary, the terms of this section shall survive any foreclosure or satisfaction of this Security lnstrumeht regardl~ss of any passage of title to Lender or any disposition by Lender of any or all of the Property. Any claims and defenses to the contrary are hereby waived. . . 18. CONDEMNATION. Mortgagor will give Lender prompt notice of any pending or threatened action, by private or puplic entities to purchase or take any or all of the Property through condemnation, eminent domain~ or any other means. Mortgagor authorizes Lender to intervene in Mortgagor's name in any of the above described actions or claims. Mortgagor assigns to Lender the proceeds of any award or clairn for damages connected with a·condemnation or·other taking of all or any part of the Property. Such proceeds shall be considered payments and will be applied as provided in this Security Instrument, This assignment of proceeds is subject to the terms of any prior mortgage, deed of trust, security agreement or other lien document. 19. INSURANCE. Mortgagor agrees to maintain insurance as follows: A. Mortgagor shall keep the Property insured against loss by fire, flood, theft and ..other hazards and risks reasonably associated with the Property due to its type and location, This insurance Shall be maintained in the amounts and for the periods that Lender requires. What Lender requires pursuant to the preceding two sentences can change during the term of the Secured Debt. The insurance ca~rl~r· providing the insurance shall be chosen by Mortgagor subject to Lender 1s approval, which·shan·not be unreasonably withheld. If Mortgagor fails to maintain the coverage describ8d above, Lender may, at. Lender's option, obtain coverage to protect Lender's rights in the Property according to the terms of this Security lnstrulTlen~. All insurance policies and renewals shall be acceptable to Lender and shall include a standard. "mortgage clause" and, where applicable, "loss payee clause." Mortgagor shall immediately notify Lender of cancellation or termination of the insurance. ~ender shall have the right to hold the policies and renewals. If lender requires, Mortgagor shall immediately give to Lender all receipts· of paid premium$ and renewal ·notices. Upon loss, Mortgagor· shall give immediate notice to the insurance carrier arid Lender. Lender may make proof of loss if not made immedia.tely by Mortgagor. · fpag,, 6 of ~ ©1993. 2001 Banke11Sy,toms,lnc.,St.Cloud,MN FormAGCO-AESI-IL 12/2712002 ,canned and Verified by: BBCNIJK05706 on 3112/2014 81 C ' Unless otherwise agreed In writing, all insurance proceeds shall be applied to restoration or repair of the Property or to the Secured Debt, whether or not then due, at Lender's option. Any application of proceeds to principal shall not extend or postpone the due date of scheduled payment nor change the amount of any payment. Any excess will be paid to the Mortgagor. If the Property is acquired by Lender, Mortgagor's right to any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass to Lender to the extent of the Secured Debt immediately before the acquisition. B. Mortgagor agrees to maintain comprehensive general liability insurance naming Lender as an additional insured in an amount acceptable to Lender, insuring against claims arising from any accident or occurrence in or on the Property. · C. Mortgagor agrees to maintain rental Joss or business interruption insurance, as required by Lender, in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing), under a form of policy acceptable t6 Lender. 20. ESCROW FOR TAXES AND INSURANCE. Unless otherwise provided in a separate agreement, Mortgagor will not be required to pay to Lender funds for taxes and insurance in escrow. 21. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial statement or information Lender may deem reaso.nably necessary. Mortgagor agrees to sign, deliver, and file any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagor1 s obligations under this Security Instrument and Lender's lien status on the Property. 22. JOINT AND INDIVIDUAL LIABILITY: CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Security Instrument are joint and individual. If Mortgagor signs this Security Instrument but does not sign an evidence of debt, Mortgagor does so only to mortgage Mortgagor's interest in the PropertY to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debt. If this Security Instrument secures a guaranty between Lender and Mortgagor, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation. These rights may includet but are not limited to, any anti-deficiency or one-action laws. Mortgagor agrees that Lender and any party to this Security Instrument may extend, modify or make any change in the terms of this Security Instrument or any evidence of debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Security Instrument. The duties and benefits of this Security Instrument shall bind and benefit the successors and assigns of Mortgagor and Lender. 23. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Security Instrument is governed by the laws of the jurisdiction in which Lender is located, except to the extent otherwise required by the laws of the jurisdiction where the Property is located. This Security Instrument is complete and fully Integrated. This Security Instrument may not be amended or modified by oral agreement. Any section in this Security Instrument, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section of this Security Instrument cannot be enforced according to its terms, that section will be severed and will not affect the enforceability of the remainder of this Security Instrument. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of the sections of this Security Instrument are for convenience only and are not to be used to interpret or define the terms of this Security Instrument. Time is of the essence in this Security Instrument. 24. NOTICE. Unless otherwise required by law, any notice shall be given by delivering it or by mailing it by first class mail to the appropriate party's address on page 1 of this Security Instrument, or to any other address designated in writing. Notice to one mortgagor will be deemed to be notice to all mortgagors. 25. WAIVERS, Except to the extent prohibited by law, Mortgagor hereby waives and releases any and all rights and remedies Mortgagor may now have or acquire in the future relating to the right of homestead exemption, redemption, reinstatement, appraisement, the marshalling of liens and assets and all other exemptions es to the Property, 26. MAXIMUM OBLIGATION LIMIT, The total principal amount secured by this Security Instrument at any one time shall not exceed $ 140.000.00 . This limitation of amount does not include interest, attorneys fees, and other fees and charges validly made pursuant to this Security Instrument. Also, this limitation does not apply to advances made under the 'terms of this Security Instrument to protect Lender's security and to perform any of the covenants contained in this Security Instrument. 27, U.C.C. PROVISIONS. If checked, the following are applicable to, but do not limit, this Security Instrument: D Construction Loan. This Security Instrument secures an obligation incurred for the construction of an 0 0 improvement on the Property, Fixture Flllng. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property. Crops; Timber; Minerals: Rents 1 Issues and Profits. Mortgagor grants to Lender a security Interest in all crops, timber and minerals located on the Property as well as all rents, issues, and profits of them including, but not limited to, all Conservation Reserve Program (CRP) and Payment in Kind (PIK) payments and similar governmental programs (all of which shall also be included in the term "Property"). (page 6 of BJ ~ ©1993, 2001 Banke1s Sp1ems, Inc., St. Ctoud, MN Form AGCO·RESl-ll 12127/2002 Scanned and Verified by: BBCN\JK05706 on 3/12/2014 D Persol"!al Property, Mortgagor grants to Len~e~ a security .imere!;,,t in al.L personal property located on or connected with the Property, ·-including all ·fari"n products, inventory; equipment, accounts, doc~ments, instruments, chat-tel p·aper, genera} intangibles, and all'othe.r items of personal property·Mortgagor owns now or .in the future, and ·that are used or useful .In the construction, ownership,. operation, management,. or maintenance of the Property (all of which shall also be included in the term "Proper.ty"), The term _"personal prop•rW" specifically· excludes that- property described. a·s "household goods" secuted tn connection with a. "consume:,1' loan as those. terms are defin.ed in appl(cable federal regulations governing unfair and deceptive · credit practices. D Filing As ·Financing Statement, Mortgagor agrees and acknowledges that this Security Instrument also suffices as. a financing stat8ment and any carbon, photographic or other reproduction may be filed of record for purposes.of Article 9 of the Uhiform Commercial Code. 28, OTHER TERMS. If checked/the foll~wing am applicable to.this Security Instrument: D Line of Credit, The Secured Debi includes a revolving line of credit provision. Although the Secured Debt may be reduc.ed t<>: a zero balance, this Security Instrument will remain in effect until released. 0 Separate Assignment. The .Mortg_agor has executed or will execute a separate assignment of leases and rents. lf the separate assignment of leases and -rents is p(operly executed and recorded, theh the separate assignment wJII supersede this Securit\'_lnstrument's "Assignment·of Leases and Rents" section. · · .· SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained In this Security Instrument and in any attachments·. Mortgagor also ac.knowledges receipt of a copy of this Security Instrument on the datQ Stated on page 1. · · Entity Nemit_: - - - - ~ - - - - - - - - - - - - - - 1s;gnature) KA .. (Signature)-== 4 · 1~ . ~ ' \,q 1. c.--•' · {Oatel 7. - 1-'-f -,:, t.. tOatel ~:-- (Oate) 1s1gnatu,e~HIA YUN TIE ~ t 21" 1Sfgn,C;,)° ' <,1 kf ACKNOWLEDGMENT: ·STATE OF JJ!lullnu,o..,j,,s_ _ _ _ _ _ _ _ __ < . '2..' '2..1.f'!Date! ·Ck ,.,_,,,.,,,_.._____________,J ss. February 2006 UndMdualt . "OFFICIAL SEAL" MARY .1! PETERSON • ~ 0 t993, 2901 i:oMM)SSION EXPIRES 04/08/08 Bank,rs Sys1ems, Inc., St. Cloud, MN Fo,m AOi:O•RESML 12(27/2002 ,canned and Verified by: BBCNIJK05706 on 3/12/2014 (page 7 ,of 8) . · ' -------------1 ss. rnusinm 0! £,,011' A~knowl•dgmenU STATE OF _ _ _ _ _ _ _ _ _ _ _ , COUNTY OF This instrument was acknowledged before me this _ _ _ _ _ day of by ----------------------------------------------- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - lll1letsll of _______________________________________ lName of Busfncuor En11tyl a My commission expires; on behalf of the business or entity. (Nolery Pub1ie) (page 8 of 81 ~ @1993, 2001 81nke11 Sy,temi, Inc., St, C/QVd, MN Fo,m AGCO·AESl·IL 12/27/2002 \canned and Verified by: B8CN1JK05706 on 3/12/2014 EXHIBIT A LEGAL DESCRIPTION: . ' LOT 27, 28, 29, AND 30 IN BLOCK "B", lN SONNENSCHEIN AND SOLOMON PARK MANOR SUBDIVISION OF BLOCKS 5, 7 AND 12 IN FREER SUl3DIVISION OF THE EAST Yz OF THE SOUTHWEST Y. 0F SECTION 22, TOWNSHIP 38 . NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS 0 PIN: 20-22-315-008-0000 20-22-315-009-0000 20-22-315-010-0000 20-22-315-011-0000 ADDRESS: 219 EAST 69TH STREET, CHICAGO, ILLINOIS i · 3canned and Verified by: B8CNIJK05706 on 3/12/2014 ·• ·. . . . ... ' Bank of Hope v. Ka Soen Tie, et al. AFFIDAVIT OF SONG CHO EXHIBIT "3" Loan#1000611-1 AMENDMENT/EXTENSION TO COMMERCIAL MORTGAGE BALLOON NOTE Date of Note: February 24, 2006 Amount of Note: $140,000.00 . Interest Rate: 7.00%Fixed Amortized Period: 300 Months Maturity Date: March 1, 2011 Borrower/Mortgagor: Ka Soen Tie and Lushia Yun Tie Lender/Mortgagee: Foster Bank, an Illinois Banking Corporation In consideration of Ten Dollars and other good valuable· consideration, the receipt and sufficiency of which is hereby acknowledged by all parties, the Borrower and Lender do hereby agree to amend the above identified Note as follows: New amount of Note: ONE HUNDRED THIRTY THOUSAND TWO HUNDRED THIRTY EIGHT AND 97/100 UNITED STATES DOLLARS ($130,238.97) New Interest Rate: 6.50 % Fixed Effective date of new interest rate: April ·..l-8./4, 2011 New Monthly Payment: $971.03 New Amortization Period: 240 Months New Maturity Date: March 1, 2016 Prepayment Penalties: If the Lender receives a prepayment on or before the 1st anniversary of the date of the first payment due date of the Note, the Penalty shall be equal to 5% of the remaining Principal balance of the Note. If the Lender receives a prepayment after the 1st anniversary but on or before the 2nd anniversary of the date of the first payment due date of the Note, the Penalty shallbe equal to 4% of the remaining Principal balance of the Note. If the Lender receives a prepayinent after. the 2nd anniversary but on or before the 3rd anniversary of the date of the first payment due date of the Note, the Penalty shall be equal to 3% of the remaining Principal balance of the Note. If the Lender receives a prepayment after the 3rd . anniversary but on or. before the 4th anniversary ofthe date of the first payment due date of the Note, the Penalty shall be equal to 2% of the remaining Principal balance of the Note. lfthe Lender receives a prepayment after the 4th anniversary of the date of the first payment due date of the Note, but before the due date of the Note, the Penalty shall be equal to 1% of the · remaining Principal balance of the Note. All other terms and conditions of the Note shall remain the same. Scanned and Verified by: BBCN\JK05706 on 3/17/2014 Loan#1000611-1 Dated this . .#' day of April, 2011 · Lender/Mortgagee: FOSTER BANK, an Illinois banking corporation Borrower: Ka Soen Tie and Lushia Yun Tie canned andVerified by: BBCNIJK05706 on 3/17/2014 Bank of Hope v. Ka Soen Tie, et al. AFFIDAVIT OF SONG CHO EXHIBIT "4" FORBEARANCE AGREEMENT This Forbe!Ullnce Agr.eetnent ("Agreement") is !Ollde and enteted into ae ofJime 13., 2014, by and runong Ka Seen 'I'le and Lushia Yuo 'lie (ccillectively "Bottowet''), Fol< Cleaners d'o: (''Fox") and BBCN Bank f/k/a Fostet Bank ("Lender").. RECITALS WHEREAS, on or about February 24, 2006, Botrower executed a Promissory Note in favor of Lender in the amount of One HundJ:ed and .Forty Thousand 00/100 Dollars ($140,000.00) (herein "Note"); ' WHEREAS, otl or about April 28, 2011, Bonower executed an Amendment/Extension to Commetclal Mortgage Bruloon Note ("Note Amendment', adjusting the Interest rate and extending the matutlty date to Match 1, 2016 ("Matutlty Pate'?, · WHEREAS, as secutity" £or the Note, on or about February 24, 2006, Borrower signed a Real Estate Mortgage ("Mortgage") to Lender on the property located at 219 East 691" Stteet, Chicago, IL 60637; WHEREAS, on or about March 'l, 2011, Bottawer signed a Mortgage Extension Ag1:eement ("Mortgage Extension") acknowledging the adjusted Interest n,,te •nd extending the Maturity Date, WHEREAS, the Note, Note .Amendment, Mortgage and Mortgage Extension shall hereafter be referred to collectively as "Loan Documents", WHEREAS, Borrower is in default of the Loan Docmnents fot foiling to pay the August 1, 2013 loan payme11t and each payment theJ:ellfter, Md as of April 21, 2014, the total arnouot Borrowet owes Lender uodet the Loan Docwnents is $122,896.21 ("Loan Balance'~. In addition, interest, attmney's foes and costs conlinue to undet the Loan Docutnenm and Borrower .remains liable fot the same (all payment obligations described in of tlilil Parag.taph shall be referred to collectively 11$ the "Indebtedness"); •=• WHEREAS, Bottowet: has requested thut the Lender futbe<lt frorn e:ll:etclsing its rights under tho Loan Documents through the Fotbes.tance Period, .nd Le11der has sgreed to fod:,ear from exercising its right1' through the Forbeatance Period pursoont to the tetms and provisions stated below; WHER.EFORE, in coJlSideratlon of mut:ual ptotnlees and co"l"enants and other good and valuable ~onsideration, the receipt and sufficiency of which Is hereby acknowledged, the parties agree as follows: l. Incorporation of Rocitn~. Borrower acknowledges and agrees that the Recitals set forth above ate true and aocui'ate and are .incorpor..ted into and form n part of this Agreement. 1 ['_x"_"'_m,_Js-u::_w:_BJ_:m_u_::A_Ml_&_m,_w._ma_:s_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ .. _.l ! 2. Fru;beamnce Eerlod. The Forberu:aoce Perl~d shall begin on the datc of thfo Ag,eement and end on the earlier to occut of (l) May i, 20i5, (ll) hnmedlately upon the failllfe ofBottower or Fox to observe or perform any of their obligations or agreements under this .Agt'eement or any of the Loan Documents, (ill) the PropeJ:ty or commercial assets of Botrower or Fox ru:e sold or (iv) the filing of a petition for Bankruptcy by the Borrower or Fox, 3. Forbearance Petlod CoyepllQ!§, During the Forbeamnce Period, the following ·conditions precedent must be soti$1ied and tnainWned by the Bottower and Fox: (•) In consideration of Lender's l.'lorbeiu:once 6n its tlghts as set forth 111 this Agreement,. Borrower hereby ag1-eea to execute aiid i:JellV'er to Lender (i) a conune1'Cial guaranty from Fox in the amount of the Indebtedness °(Att,.cbcd as "Exhibit A") and (ll) a CommeJ.'Clal Security Agreement on all the business ll'ssets of Fox (Attached as "&hibitB"), (b) Bottowet shall repay the Indebtedness during the Forbearance Period under the following terms: i. Upon execution of this Agreement, the Mny 1, 2014 payment of $1,500.00 shall be itnrncdlately due and owfng Lendo;; iL Begi.Mlng June 1, 2014, and continuing on the first (1") day of each tnonth thereafu-.t tlu:ough April 1, 2015, Borrower shall make monthly lnstrulments paymeJ:>ls of$1,500,00 to Lender; . . iii. The interest rate undetthls Agreement will be reduced from 6.5% to 5% fu<ed; iv. • Pt.iucipal and Interest payments under the Note from August 1, 2013 through .April 1, 2015 are deferred through the Fotbeal.'llllce Petlod; v. Upon the Forbearance Perlod expiring, tbe remalnlog Loan Balance, including all deferted payn1ents under this Agtee.tnent, will be r<:-amottlzed through the Maturity Date of the Note. Beginning May 1, 2015i lllld conducing on the litst day of each month thereafter· thtough the Maturity Date, Botrowet shall mske equal monthly Installments payments to Lender on the telX!aining Loan Biuance through March 1, 2016. If on Mai:ch 1, 2016 the· Note is not paid in full, one flnal balloon payment shall be due and owing Lender for the re.tnaltiiog Loan Balance due on the Note. (c) All Payments made by Bottower o.t Fox under this Agreement shall be applied to the Indebtedness at the Lender's sole and absolute discretion. The fuilure by Bor,:ower or Fox to perform any obligation under this Agreement for a period In excess of seven (7) days after written notlce will be an lmn:l<;<l[ate default, 4. Terms of Agteetnent. Nothing contalned 1n thls Agree1net1t shall be construed in such a manner as to require. the Lei1der to extend the Forbearance Period beyond May 1, 2015 or modify the tertns of the Loan Documents; provided, however, that the Lender may, one or more times, but shiill hnve no .obli$11tion to, extend the Forbeamoce Pedod to a dote or dates subsequent to May 1, 2015 and/or modify the tertne of the Loan Documents once the 2 r:0:06 li@ ,;: It: ii iil.O,IIM&lbi .llilildli I Fotbearance period has ended. Notwlthstilnding the foregoing or anything to the contraty contained ln this Agteetnent; on M11y 1, 2015, the Lender's agreement to forbeax under this Ag,:eement will tetminate, and the Leni:let Jhall have the right, without additional notice, to ptoceed to exetdse all of the Lendet1s F~rbeatance 'Petlod rlght• and post-Fotbeatance Period rights under this Agreement, ilS well as all rights and remedies under the Loan Documents. 5, Notlces. Notice from one party to another relating to this Agreement shall be deemed effective If made mwtlting (including telecomtnunlcatione) und delivered to the recipien~s address, e-mail address, or facslmile number set forth below by any of the following means (a) hand delivery, (h) registered or certii:1ed J,nail, postage prepa.!d, (c) Federal Express, or like ove1nlght coutler service, (d) tclecopy, fu~e, (e) e-tnall ttanstnlseloo, or other wire transmission with requeet for Msurance receipt ma manner typical with respect to communications of that type ot (~ Regulh U.S. Mail Postage Prepaid. Notice made m accordance with this section shall be deemed delivered on receipt of delivered by hand or wire t:t~nsml.ssloc, on the third business day aftet malling If mailed i:egu}at U.S. mall, registered or cettffled mail, or on the· next business day after tnallmg or deposit with an ovetnlght courier service. of Lenders Attr, Deborah Ashen, Esq. Asheo/Faulliner 217 N,Jeffe!Son St., Suite 601 Chicago, IL 60661 F: (312) 655-0801 P: {312) 655°0800 B-mall: Lender: BBCNBank 3731 WU.hlte Blvd, Ste, 1000 Los Angeles, CA 90010 Borrower& Guarantors: Ka Soen Tie and Lushia Yun Tie 3132 S, May St. Chicago, lL 60608 I Fm, Cleane.ra Co. · c/o Ka Soen Tie, President 3132 $, May St Chicago, IL 60608 6, Prohib!tlon gn AssigtunMt. Thfa Agreement J:nay not be assigned without the prior written cm1sent of the Lender, which may be withheld for any or no reason. Any attempt to a831gn this Agree.roent without written consent o~ the Lender s!;tall be void and without force or effect 7. j Prcvlous Represenmtlons. The Borrower and Fox repreeent and warrant to Lender that all wtltteri representations, Information an'd state.meats made, provided, or delivered to Lender by Bor1:ower, Fox, or pettions acting at thek request or on its behalf, were and are complete 3 ri@6 .£ e; ""' w..,.;,:;:;;;.11.,. Oiill2111. I and accu.rnte in all material respects and were not and are not misleading (by loclusion or ' · omli,,ion) in any matetW respect. 8. No Release, Nothing contalned ln this .Agreement, the discussions or communications leading up to this Agreement or any Loan 'Documents mentloned ln this Agreement shall waive the Lender's tight to poasession of any property or the commercial assets o£Borrower or the commercial asse.ts of Fox, or any dght or remedy of Lender under the Loan Documents, or at law or in equity. 9, Su\'YlYll) of loan Documents, Notwithstanding anything to the conttaty contaloed lo this Agreetnent; the Loan DocUtncnts are ln full fow: and effect ln accordance with their respective te.ttns, are and tetn<i!n 'l'alid and blndlng obligations of the Borrower and Fox, and lite hereby reaffirmed and ratified by the patties, The liens; security interest and assignments created by the Loan DoClltnents and this ~reement ru:e and continue to be valid, effective, properly perfects, enforceable and, except M otherwise expressly t<:leased or agreed to by Lender in w.tlting, are hereby ratified anti cohiirined ln all respects. 10. Conflict. 'I'hls Agreement and all Loan Documents referenced in this Agreement shall be construed to the 1naxinnun extent possible to avoid any conflict between the respective ptovlslons of such documents, but in the event of any irreconcilable conflict the teJ:rns of this Agreement shall go'l'etn, 11. \1()Juvei: of Defenses, Borrower and Fox acknowledge and agree that (a) the Loan Documents to which Borrower and .Fox are a party are the legal, valid and binding obligations of Borrower and Fox, enforceaBle against Borrower and Fox in accordance wlth thdt respective terms, (b) Bot.tower and Fox have no defenses of any nature whatsoever to the enfoi:cement of the Loan Documents or security insttUlDents referenced Jn. chis Agreement, and (c) Borrower and Fox have no claims, counterclaims or offsets ,igalnst Lender in respect of the .Loan Documents or secutlty Instruments referenced lo this Agreement, or whfoh could be asserted against Lender by reason of any act, conduct or o.tnls,don of Lender, nor shall this Agreement or the Fotberu:ance contemplated by this Agreement give tise to any such defenses, clauna, counterclaims or offsets. Borrower and Fox consent to all of the transactlor>s contemplated by thls Agreement, and except •• expressly inodilled by this ;\gteement, tatllies 11nd afflttn• the continuing 'l'aildity .and enforceability of the Loan Doeuments or s~curity insttuments referenced in this Agreement 'The consents, releases, waivers and : ackhowledgments of Borrower and Fox in thl• Agteement shall survive the tettnina!l,on O! eltpiration of this .Agreement, 12, Acknow!edg®1ent of Default. Boxcower and Fox acknowledge and agree that (a) Botrower is in default under the Loan Documents for falling to make the monthly payincnts due alld owing; and such default Is material and entitle the Lender to pursue ill of illl terned/es under the Loan Docutnents ot secutlly lnsttuinents referenced In thls Agteement, or othetwise avillable at law or in equity, with sill applicable grace periods and requitemet1ts of notice of default having been satisfied or waived, !'lld (b) as a result of such defat1lt,, and the satisfaction or waiver of.iill applicable•gracc petlods and notices of default, the Lender Is entitled to pursue ill of it.s tights and rc,:qeclies under the Loan Documents and sec\ldty 11greemcnts created undet this Agreement ; 4 [""'""'" Mi uaco.:wsM1J:01111£11 I 13. 14. )teleaae of Clrums by the Borrowey and Fox. Except for the Lender's obligations under this Agteement, Borrower and 'Foll:, for thbtneelves and on behalf of theit agents, employees, representlltive, e.fllliare,, predecessors-in-interest, successors, and assigns (such petsons and entities other than the Borrower or Fox 11te j:eferred to collectively as the "Other lleleasors"), do hereby teleaae, dischru!ge and acquit the Lender, and its officers, directors, shareholder, agents, employees, and afllllates anll theit reepective successors, belts and assigns (collectivcly, the "Released Party"), of and from any and oil rights, claitns, de1nands, obligations, liabilities, Indebtedness, breaches of contract, breaches of duty or any relationship,. acts, omlseions, misfeasance, malfeasance, causes of action, promises, damages, costs, losses and expenses. of every klnd, nature, desctlptlon or character, and h:resp.ective of how, why or by reaeon of what facts, which could or may be claltned to exist, whether known or unknown, suapected or unsuspected, llquidated or uollqu!dated, claimed or uncla.!med, whether based on: contract, tort; breach of any duty, or other legal or equitable theory of recovery, each as thbugh fully set forth heteln at length (collectively the "Claim•"), which ln any way arlsc out of, are connected with ouelate to any or all of the following: (a) the Loan Dot:WOents and security agteements referenced In this. Agreement, as well as any action or Jnactlon 0£ the Released Patties or any of them with respect to the Loan Docu.tnents or security agreements referehced in this Agreement ot the administration .thereof; (b) iuiy or all of the ttansactions which ate the subject of or cont=plated by IUlY or all of the Loan Document, or security agreements tnentioned in this Agreement; or (c) any fact, matter ·ot transaction existing or occurring as of ot prior to the execution of this Agreement by the patties and relating to this Agreement, the Lom OocUl'Ilents, or all other docgments referenced in this Apment. No Waiv¢r by the LendeJ:.' This Agreem.,;.t by the Lender to forbear from exercising its tights and remedies ,mder the Loan Doculnents or all other documents referenced in this Agreement shall not constitute a wolver of, consent to, ot condocing of any default by Borrower and Borrower and Fox agree. that the Lender may Immediately exercise oll tlghts and r,;inedles anilable to it under the Loan Documenw and the corumetclal assets of Fox llnooedlately upon ter.mination of the Forbelltance Petlod or upon a default by Borrower -0r Fox, 15, N2 Wavier. No waiver by the Lendet of any of its tights or remedies Jn connection with this Agreement, any doCUIIICllts L-eferenoed in this Agreement, or the Loan Docwnent~ or all ot:het documents referenced ln thie Agreement, shall be effective such wnhrer is in writing and signed by the Len?et, uni••• 16. No Third Pat:!y Beneflclarles. Nothing in this Agreement is iate11ded to or shall confer ally tights or remedies upon any person, other than the parties hereto and, s,ibject to any restrictions on· asolgntnent contllined in this Agreement, the Loan DoL"ll.tneuts, or all other do~uments referenced In this Agreement, tbeit respective successol:ll and assigns, This Agreement shall be binding upon and shnll lnute to the benefit of the p11ttles hereto and· theit respective •uccessors and assigns. 17, ~ Nothing in this Agreement shall-~•) diminish or otherwise .llmlt any obligation Borrower .uid Fox may have under the Lodn Documents or in Agreement wlth tespect ; s. rM&ilM&0:110:61 iifa:OIJO.s& Jlilbfiii I to payment of the Lender's costs and expenses, or (b) prevent the Lender from requiring Bottower or Fox to pay all sueh costs lllld expenses in accOfdance with the terms of the Loan Documents or in this Agreement, Including, but not limited to reasonable 11ttorneys' fees and court costs. ' 18. Eptlre ,l\gJ;eement. This Agteetnent, all documents to be delivered and execured pursuant to thi~ Agreement, and the Loan Documents contain the entlte agreement and undetstanding between the parties concerning the matters covered by this Agteement and supersede all prior and contemporaneous agteements, 'statements, understandings, tei:ms, conditions, negotiations, i:epresentations ·and wai:tanties, whether written or oral, made by the Lender, Bonower or Fox concerning the matters coveted by this Agteement, 19. Confession of Judgment. To secw:e the payment of the Indebtedness pursuant to this Agteetnent, Borrower and Fox hereby irrevocably authorize and empower Lender to select any attorney of Its choosing to appeai: ln either State or Federal Court in Cook County, Illlnols, in tenn time or vacation and to confess judgment, without ptocess, In favot of the holder of this Confession, for such atnountt as may appeai: to be unaided thereon, together wlth ressonable costs of collection, including but not limited to attorney' fees and to waive and i:elease all errors which tllllY intervene In such proceedings, consent to immediate execution upon such judgtnent, heteby ratifying ad confinning all that said attorney may do by virtue hereof. If • copy of the Loan Documents or all other documents teferenced in this Agreement vetlf:ieil by an affidavit, shall have been filed in the pJ'Oceeding, It will not be necessaty to fde the original as a wa.rrant of attorney, Agteetnent, Borrower and Fo,c waive the right to any stay of execution and ihe benefit ofall exemption laws now or hereafter In effect No single exercise of the foregoing,warrant and power to confess Judgment will be deemed to exhaust the power, whether or not any such exercise shall be held by MY cou,:t to be invalid, voidable, or void; but the power will eontlnue undiminisbed and may be exercised from tltne to tltne as Lender may elect until all amou.ots owing herein have been paid in fu!L Agi:eetnent, BortoWet and Fox hereby waive and release any and all claltns ot causes of action which Agreement, Borrower and Fox might have against any attorney acting undet the t•=• of authority which Agreement, Borrower and Fox have gtanted hetein atl,lng out of or connected '11'.lth the confesslon of Judgtnent hereunder. The unde!:$lgned acknowle<lges that thls Confession does not sec:nte payment of monies putsuailt to a "Consumer Ttansactlon" as defined ln 735 lLCS 5/2-1301. 'I'he undersigned hereby waives the tight to present for payment,. notice of dishonor, and protest. Additionally, the undersigned hereby state~ that they have read and understand: this document in full,. are not now 11nder the influence of any alcohol, dt:l!gs, or other ;Intoxicating substance, nor any dui:e,s, undue iilfluence or Jnoopacity a.nd llgtee and conaerylll to be fully bound by the tlillns her.,ln. 20. Tjme of the EssenQ!l. 'I'il1le is of the ess.ence of each provlsion of thls Agreement. 21. St:yembili!J1. If <111y term or provJa!on of this AgteOIDetlt or the application thereof to any person or circumstance sbrul, to any e,ctent, be Invalid or unenforceable, the remainder of this Agreement, or the applicatiot1 of such Of provislnn to persons or.circumstances other than those as to which it ls held invalld ,:,r unenfotceable, .shall not be affeeted thereby, and each mch term and provision of this Ai,>teement shall be valid and shall be enfot<:ed to the fullest extent pettnltted by law, · r:OO!tlliJ Olli &Bi Ahll,&SM&i Jllll)&IJ I 22. Execution and Cougtet~. Thls. Agreement may be executed Jn any nUlllber of counteJ:parts so long as each signatory hereto executes at least one such counterpart. Eacb. such counteJ:part shall constitute one orlglnal, but all such counterparts 1:llkcn together shall constitute one and the srune instrument. Thls Agreement may be signed and ttansmltted by facsimile transmission ot by electtonic l:rilnsmlsslon; the signature of aoy person by facsimile transmission ot clecttonlc transrulssJon shall be consldeted an otigfo.el signature; and a facaJmlle ot electronic copy hoteof shall have the same blodlng effect as an otlglnal signature ·on an original tlocument. · 23. Gow;n,lpg !,aw, Thls Agreement shall be govc:tned by and construed aod enforoed in accotdance with the internal laws of the State. oflllinols, County of Cook. 7 rdii,,,Ctl O IIUIA&A&LIIOOlll,lili Iii I (EXHIBIT A) COMMERCIAL GUARANTY THIS COMMERCIAL GUARANTY/'Guarllllty'? ls made as of this _ day of June, 2014 by Fox Cleaners Co. (herein as "Guarantor''), to lllld for the benefit of BBCN Battle f/k/ a Foster Bank ("Lender'?, · . I Wf'l'NESSE'tH: WHEREAS, on or about Februaty 24, 2006, Ka Soen Tie and Lushla Ymt Tle (collectively "Bortowet'? executed a Promissory Note in favor of the Lendex Jn the amount of One Hundi:ed and Forty 'Thnusa.nd 00/100 Dollars ($140,000.00) (herein "Note'?; · WHEREAS, on or about Aprll 28, 2011,.Botrower executed an Amendment/Extension to Commercial Mortgage Balloon Note ("Note Amenilment") lldjustlng the interest rate and extending the11:"tutity date to MMch 1, 2016;, · ' , WHEREAS, as security for the Note, on or about Febtuai:y 24, 2006, Bottowet signed • Real Estate Mortgage (''Mortgage'? to Lender on the property located at 219 East 69'& Street, Chicag-o, IL 60637; WHEREAS, on or about Match 1, 2011, Borrower ·signed a Mortgage Extension Agt.eement ("Mortgage Extension'? acknowledging the adjusted lntei:est iate and extended maturity date. · WHEREAS, the Note, Note Amendment, Mortgage and Mortgllge Extension shall hereafter be referred to collectively as "Loan Documents", WHEREAS,.J3orrowec ls in default of the Loan Documents for failing to pay the August 1, 2013- loan payment and each payment thereafter, and as of Aprll 21, 2014, the total amount Bottower owes Lender Ullder the Loan Docutnents ls $134,840,88 ("Loan Balance'?, In .uddition, interest, 1tttotney's foes and costs continue t<:i accrue under the Loan Downents and Botrowet remains liable t'o.r the same (all payment obligations described in of this Pwgmph shall be referred to collectively as the "Indebtedness"); that WHEREAS,. Bottower bas requested. the I.ender forbear ftotn. exercising its .tights under the Loan Docmnentl! through the Forbearsn~e Period, and Lender hits 11greed to forbe11t from exercfolng its tights through the Forb~arance Pexlocl; . WHEREAS, the execution and delivety of thls Cornmercfal Guaranty is a .condition precedent to the execution and acceptance of the Forbearance Agreement between I..etldet and Borrow61'; NOW, THEREFORE, Guarantor agrees to Guaranty the debt under the Forbearance Agreement and Note as follows: 8 riJiii !iii Oil II iii Li Oil 4,IAIO:,.h &I Wll),1111 I 1. Gµaranty. Guarantor° absolutely, uncondltlorut!ly and irrevocably guMWtees to Lendor: (a) The full and ptompt payment of all ptlncipal, lntorest, late fees and othet costs under the Note ru1d the Loan Ilalauce undet the Fo.tbearance Agreement between Lender and Bottowet when paymeut becomes due to Lendet lllldet any and all clreumstances; (b) The full aud prompt payment of any othet alll01lllbl due Lendet under any of the othet Loan Documents, ... and when. the same shall in any manner be ot become due .fill provided the,ein; I (c) The payment of all eii:penses,, JncludJng teasollable attotneys' fees, incurred by Lender in exetcising any of ibl rights and remedies under any of the Loan Documents, Note or Forbeamnce Agreement or Jncurred by Lender In enforcing this Guaranty (all pay1nent obligations described in Subparagraphs (a), (b) or (c) of this Paragraph 1 being hereinafter referred to collectively as the "l:ndebtedness"); (d) The full, complete and punctual observance, performance and ,at!sfac:tion of all obllgatlons, duties aud agreements (the "Obllgat\ons'~ of ;ill parties from whom performance is owed to Lender under any of the Loan Do~'Ujllents, Note or Forbearance Agreement (the "Obligots"). • 2. • I Lender's R,,;medles. :Ca) In the event of ruiy default by Borrower under the Note or Forbearance Agreetnent, after the exphation of ariy applicable cute period, Guarantor agtees,. on demand by Lettder, to pay all sums guaranteed or due hereunder tegatdless of auy defense, right of set-off or claims which the Borrower or Guarantor roay have agalnst Lender. Guarautot acknowledges and agrees that this Guaranty ls an absolute, ittevooable, present and continuing guaranty of payment, and continues 1-egardless of any amettdtnenta, modificatlott~, extensions ot rettewals Ulldet the Note or Forbearance .Agreement, (b) In the event that Borrower defaults in the performance of M>Y of the Obligations, Gua.bmto.t wees, on demand by Lender (i) to assume ;ill tesponsiblllty for and petfotm such Obligations iu accordance with the terms and condltlons of the Note or Forbearance Agreement; (iJ) to pay any and all costs and expenses llecCllsaty for the full aud timely perfol'tnllnce of such Obligations; aod (ill) except for lo,s, damage, cost, expense, injury or liability at!sJng out ofLendet'.s gtoss negligence or willful misconduct, to Indemnify and hold Lender harmless from and against any and all lo•s, dntnage, cost, experuie, injuty or liability Lender may snffer or incur in. connection with the exercise of ill! rights undcJ: this Gua.r:anty or any other Loan Documents ot Fo.tbearancc Agreement. If Guarantor fails to commence and pursue diligently the perfor1na11ce of such Oblig;,tions within seven (J) days after his receipt of written notlce from Lender demanding tbe petfotmllt1Ce of Gt1atantor, then, either before at after pursuing any other remedy of Lender agalust Guarantor or any other Obligo.., aud .regardless of l.vhethet Lender shall ever pursue any suvh other remedy, Lendor shall have the· tight to itself ptirf= or cause others to perform such Obligations. All amounts required to be paid by Lender In the performance thereof sball be Included within the tetm "Indebtedness" and all obllgationa perfol'tned ,by Lendr.r putsuaut to the terms heteof shall be Included within the term "Obllgatlons", Notwithstanding anything to the conttaty herein contained, in any action to enforce any of the Obllgatlons of Guarantor under this Guw,.nty, Lender, at its election, may proceed against Guarantor, with or without (A) joining any of the othor Obllgotll In 9 i _[_""_""_'"'_"""_EiS,._,OO_MIJl_·"l)_Gii_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ , , , any such actfon; (B) commencing 11111 action agi.ln~t or obtaining any judgment against any of the othet Obligors; or (C) commencing any proceeding to enforce the Loan, realize upon any security interest or collateml ot obtllin any judgment, del'tee Ior foreclosure sale. . 3. No Dischal:lll', Gua.ra.otor agtees that the obligations, coveru,.nts and agreements of Guamntor under this Guaraoty shall not be affected or impaired by any act of Lender, or any event or condition except full pc,rformmce of the Obligations and payment of all lndebt.edness and any other sums due here\llldet. Guarantor agrees that he is d!tectly, jointly and severally, with any other guarantor of the Obligations liable to.Lender as same exi5t or may exist from t!tne to time, that the obligations of Guarantor hereundor ate independent of the obligations of Borrower or any other guatantor, and that a separate action may be' brought against Gu11tantor whether such action is brought.against Botrower, or any other guatantor or whether Bot.tower, or any such other gumntor is joined ln such action. Guat:11ntor agrees that, without full performance of the Obligations and payment in full of the Indebtedness, the liability of buamntor hereunder shall not be dlscb,u;ged by: (a) any extension of tln,e for the payment of the fodebtedness or performance of the Obligations under the Note or Fo1bearance Agreement, or any indulgences or modifications which Lender may ext.end to any of the Borrowers,' or any other ,igteement telat!ng to the Indebtedness or the Obligations, all whether /llade with or without the knowledge or consent of Guatantot; (b) any sale, tt1W.sfer or asslgnment of all or any portion of the Note or Forbearance Agreement by Lender, its successors and :assigns; (c) any consent which Lender may give to any sale, transfer or assignment of all or any portion of the Indebt.edneso, the Obli~tlom or any collateral securing payinent and performance of the Indebtedness or Obligatiol;)s by any of the Obllgors, thelt pe.rn,ltted successors ;end assigns; (d} the existence of any defenses to enforcement by Lender of the Note; (e) ru.ty failure, omission, delay or Inadequacy, whether entite or piirtJal, of Lender to enforce any of the conditions of the Note; (f} the existence of any aet-off, claim, i:eduction, or dlminution of the Indebtedness, or any .defense of any kind or natute, which. Guamntor lnllY have against any of the Obligors or which any J?arty has against Lender .e.:cept for good fo.ith defenses made by Gtlafantor; (g) the addition of any and all ·other guarantors, obllgors or other per,ons liable for the payment of the Indebt.edness and petfottnance oftbe Obligations and the acceptance of any and all other security for the payment of tb.e Indebtedness and J?etfottnance of the Obligations; (h) the release or discharge of any of the Obligora In bankruptcy or other debtor and credltor proceeding; (i) any rejection or disclaimer of any of the Obligors; ~) foreclosure of the Secutlty Agreement by Lender or the exercise by Lender of My other rlghtB. and remedies uudcr any of the Loan Documents; or (k) the performance of such othc,r acts as may be pertnitt.ed under the L<>an M lt may be from tune to time amended; all whothe.t or not Guatantor shrul have had notlce or knowll:dge or any act or omission refeued to In the foregoing clauses (a) through (k) of this Pro,agmph. Guarlltltor intends that Guarantor shall teroain liable hereunder until all Indebtedness shall have been paid in full or released lo wtitlng by Lender. 4, Waiyex. (a) G,iara.utor expressly waives: ~) notke of the acceptllnce by Lender of this Guru.Mty, (ii) e.:cludlng notices expressly required herein, notice of the existence,. c1'eation, payment or nonpayment of the Indebtedness;.: (lii) presentment, detru1nd for payment or perfotJnance, notice of dishonor, protest, and iill other notllles whatsoever unless expt<>Ssly set fo1'lh herein; (iv) diligence by Lender ln any atrempt to collect ariy Indebtedness or enfo1ce any ObUgatlon; (v) fullute by Lender to assert or enfl>rce any tights or remedies avallablc to Lender under the Note, Secutity Agreement, Initial Gujltllllty or Fotbearance Agteetnentl 1111d (vi) wy failure by Lender to inform Guatantor of any facts Lender may now or hereafter know Kbout the Premises or the l:tarula.ctlona contemplated by any of the Loan Documents, it being understood and agreed 10 rl,OO@Cii liiii "EIJIIA/iiHMIIU&ii I thai Lender has no duty so to inform and .that' Guarantor is fully responsible for being and remaining informed by the Obllgors of all' Indebtedness or Obligations, No modillcatlon or waiver of any of the ptovislons of this Gu.aranty will be bji,dlng upon Lender except ll8 expressly set forth ln a wtltlog duly signed and dcllvered on behalf o~ Lender. Guatantor walves any right to require Lender to proceed against any of the Obllgors or any seculity or any other guat'llntor•. (b} Guarantor hereby U11condltlonally and irrevocably agrees that (~ Guarsntor will not at any tltne aasert .against any of the Obligors (or any successor of any one of the Obligors if such Obligot becomes bankrupt or becomes the subject of any case or proceeding under the bankruptcy laws of the United States of America) any tight or claim to lndemolficatlon, reimburaetnent, contribution or paynio.nt for or with respect to any and all 11mounts Gu!Ul\ntor tnay pay or be obligated to pay Lender,' includlng, without Tu:nltatlon, the Indebtedness, and any and all obligations which Guarantor may perCorm, satiszy or dLicharge, under or with respect to this Guaranty, lnch.Jdlng, without Tu:nlt:11tion, the Obligations, an.d (ii) GtW..mntor waives nnd .releases all such tights and clnims to indemn!flcatiqn,, reiinbumement, contribution or payment which Guarantor may have now or at any ume agaln,t any of the Obligors (or any successor of any one of the Obligors If such Obligot ·becomes bankrupt or becomes the subject of any case or proceeding under the banktuptcy laws of the United States of America). Gua.tantor futther unconditionally and irtevocably ag,:ees that Gunrsntor shall. have no rlght of subrogation, and waives any rlght to enforce any remedy which Lender now has or may hereafter have against any of the Obligots, and any security now or hereafter held by Lender, and waives any defense based upon ·an election of remedies by Lender which destroys. or otherwise frnfalll! any subrogation tight~ of Guarantor or the right of (',uarantot to proceed against •any of the Obligors for reimbursement, or both. • . • J 5. ' Enforcement Costs, If any. 'of tbe following occm: (a) this Guaranty, Note or Forbearance Agreement is placed in the hands of ~ attomey for collection or ls enforced through any legal proceeding; (b) an attotoey is retained to represent Lender in ffny banktuptL'Y, 1-eorgru:,lzatlon, receivership, or other proceedings affecting credltots' rights and Involving a clahn undec this Guaranty or any of the othet Loan Documents or Forbeal'ance Ag,:eement; (c) nn attomey ls tetulned to prote(:t or enforce Lender's.rights under any of the Loan Documents or (d) an attorney is tctalned to. represent Lender ln any other proceedings whatsoevet In connection with th!, Guaranty or any of the Loan Documenm, then Guanntor agree, to pay to Lender upon dem•nd .U reaso011ble attorneys' fees, costs and expenses, Jncludlng without funitatlon rourt costs, filing fees, and all other reasonable costs and expenses lncu,rred in connection therewith (all of which are referred to herein as "Enforcement Costs"), in addition to aU other ll.Olounts due here,mdei:. ; 6. Governing Law; lntetptetatjgn, '):'his Guatal)ty has been negotiated, executed nnd dcllv,ored in Chicago, Illlnols and shall be governed by the laws of the State of Xllinois (without reforeaC<:', to the conflicts of!aw principles of that State), 'The beadings of riectlons and paragraphs in this Guatanty are for convenience only and shall not be construed In nny wny to llinlt or define the content, scope, or intent of the proviaion, hete-0f. As used in this Guaranty, the :ilngut..r shall include the plural, and mnscnline, feminine, and neuter pronouns shall be fully int.erchangeable where the context eo requires, If 11ny provision of this Guatnnty, or·any paragraph, sentence, clause, phrase, or word, or the appllcatlon thereof,. In any clrcumsrance, is adjudicated by a court of competent jurladiction to be invalid, the validity of the remainder of this Guaranty shall be construed as if such Invalid pare were 11ev°' ind!uded herein. 'l'ltne ls of the essence of this Guaranty, All payments to be made hereunder •1¥& be made in cuttency and coin of the United States of America which is legal tender for public arid private debts at the tlmc-0fpayment. r GOS 1118 Oil &lbi JU:Oli&.s&I W::J&il 11 I 7, Entjre A,w,ement, This Guaxanty shall constitute the eotire agreement between the parties with respect to the subject matter hetepf and supersede all such prior agreements and underatandlngs, both w.cltten and oral. This Guara~ty may not be modified or amended except by a written instrument signed by Lender and Guaw.ntor1 8, l'ay;tnent of Indebtedness, Lender agrees that the obligations of Gulltllntor under this Guaranty shall terminate at such thne as either. (a) Lendet: sb..U have received payment of all of the Indebtedness and all other sums due and owing under this Guamnty wd the other Loan Documents or Forbearance Agreement and (b) the Obligations shall have been fully performed. Release of this Guataoty, if it o~curs, however, shall not affect, in any respect, tlie Loan, Forbearance Agreement ot any other instrument securing or guarantying the Indebtedness or perfotmance of the Obllgatlons. !>. Successors and Asslgns. This Guaranty shall bind Guarantor and the pxedecessoJ:S, affiliates, asslgns, successors, and 6ther tnnsferees of Guarantor; provided that Guarantor shRll not be entitled to transfer or assign lts obligatlons hereunder without the prior written consent of Lender, Regardless of whether this Guaranty is executed by more than ooe person, it is agreed that the undersigned's liability hereunder is several and Independent of any other guaranties or othct obligations at any time h, effect with respect to the Indebtedness, the Obligations or any part thereof and that Guaraotor's lliibillty hereunder may be enforced rega,dless of the exi,tence, valldlty, enforcement or non-enforcement of any such other guaranties or other obligations. 10. Notice,. Notice from one a;nothet relating to this Agreement shall be deerned effective if made In writing {including telecomtnunications) and delivered to the recipient's address, e-.ttlllll address, or facsitnlle D!l111ber set forth below by any of the followlog means (a) hand delivery, (b) registered or cettlfied mail, postage prepaid, (c) Federal El<press, or like ovetnight courier service, (d) telec<_>py-, facsimile, (e) e-mail transmission, or other wire transiniaalon with request for assurance of receipt lo a mAnrier typical with respect to commuoications Qf that type or (f) Regumr U.S. Mail l'ostage Prepaid. Notice· =de lo accordance with this section shall be deemed delivered on teceipt of delivered by hand or wire transmission, on the third business day after malllng if mailed regW!lr U.S. mail, registered or cetlifled mall, or on the next business day after mailing o~ &posit oveto!ght coutlet ne:wlce: 'Deborah k~en, Esq. Ashen/Faulkner 217 N.Jefferson St., Suite 600 Chicago, IL 6066-1 F: (312) 655-0801 E-mail: Lender: BBCNBank; 3731 Wilshite Blvd, Ste. 1000· .Los Ang#les, cA 90010 1 12 rO:WliiB"IIMBI bil.i,iii&J,,JIIOOllllSli I Gul\tllntot: . Folt Cleaners. Co. c/o !(ii Soen'Tie, President 3132 S. May St, Chicago,. IL 60608 . I 11. Venue and Trl@I by Jury. Guarantor hereby sublnits to persolll\l jurisdictlon in the State of Illinois for the enforcement of this Guaranty and waives any and all personal tlghts to object to such juriedlctlon for the purposes of lltigs.tlon to enforce this Guaranty. Guat!!ntor hereby consents to the jutilldictlon of either the Circuit Court of Cook County, Illlnols, or the United Statel! District Court for the Norl:hero District of Illinois, Eastern Division, in any action, suit or proceeding which Lender may at any time wish to file in connection with this Guaranty or any related matter. Guarai1tor hereby agrees that ~ action, suit or proceediog to enforce this Guaranty may be brought in any State or Federal Court 1oca~ed in the County of Cook, State of llllnois and hereby Wlllves any objection which Guarantot may have to the !&ylng of the venue of any sud action, suit or proceeding in any such Court; titovided, however, that the provisions of this paragmph shall not be deeined to preclude I.ender from filing any such action, suit or proceecllng in any othe.t approprlare fo.tu!n. GUARANTOR HEREBY VOLUNTARILY, KNOWINGLY AND IRREVOCABLY WAlVES ANY AND ALL RIGHTS TO A 1'RlALBY JURY WIDi RESPECT TO ANY LEG.AL PROCEEDING ARISING IN CONNECTION WITH THIS GUARANTY OR THE JNPEB'IBDNESS IN WHICH GUARANTOR AND LENDER ARE ADVERSE PARTIES. 12. Confession ofJudgm(lllt. To further. secure the payment and perfottnance of this Guntanty, Guarantor hereby irrevocably authorlirns,and empowers any attorney of record to appear in any court of record and to confess Judgment against Guarantor for the unpaid amount lo the Note ll!1d Fol.'beatance Agr=ent between Lender.and Bottawet, and In this Guarsnty as evidenced by an affidavit slgoed by an officer of Lender setting forth the amount then due, attorneys' lee8 plus costs of suit, and ro release all errors, and waive .pl) tights of apperu, If a copy of the Note, Forbooraoce Agreement, or Guaranty, verified by an affid~vl~ shall have been filed lo the proceedlog, it wlll not be necessru.y to file the otlgina! as a warrant of attorney. Guarantor waives the tight to any stay of execution and the benefit of all exemption mws now or he.reafter in effect No single exercise of the foregolng warrant and power to confess juqgment will be deemed to exhaust the power, whether or not any such exercille shall be held by any court to be invalld, voidable, or void; but the power will coJ:Jtinue undiipinished and may be e:,:erclsed ftom r:ltne to time as Lendet may el<:ct until all amounts owmg on the Note QJ, this Agreement hl!Ve been paid in full,· Guarantor hereby waives and releases 1lllY and all 0£ causes of action which Guar1llltor nilght have ag,tlnst any attorney act!llg undex the tet\DS of authority wbfoh Guarantor has granted herein atislng out of ot connected with the confusslon of judgment hereunder, Guarantor acknowledges that this Confession does not secure payment of monies pursuant to a "Consllhlet Transaction" as defined in 735 ItCS 5/2--1301. Guarantor hereby waives the right to present fo,: payment, notice of dishonor, and protest. Additionally, Guamntor hereby states that they have read and widerstand this docutnent Jn ful~ are not now under the intluence of any alcohol, drugs, or otbe.r intoxicating substance, nor any duress, undue influence or incopadty and agtee and consent.a to be fully bound by the terms hereJn, c\aitm {Slgnatlm Pago to Follow] 13, .l'_SIJ_a_s_@_ct_,u_:::_;u_m__w_w_,J_,rn_rw_::"_a:._ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __.I I IN Wl'.I'NESS WHEREOF, the undersigned Guatantor has duly ei<:ecuted this Gumnty to l3BCN J3ank to secure the Forbeatance Agreement and Note executed by Ka Soon Tle and Lushfa Yun Tie to BBCN Bat>k as of the date fltst set forth herelnabove, ; STATE OF IIJJNOIS I ) )ss l COUNTY OF COOK) ! •c In and for said County, In the State ofotesaid, DO that .p1,L'.lc...Jl!l:~!,:.l..M:5'.bl,LjL{.i~ behalf of Jfox Cleatters Co, is the same person who enamels subscdbed to the foregolnginsttument and appeared befote !Ile this-day in person and acknowledged that he signed and delivered this Commercial Guaranty to BBCN BMlk a& his free and voluntary act as aforesaid for the uses and purposes theteitt set forth. GIVEN under my hand and notarlalseal this $ a y of ,:siMAfl ,2014 ··w~·· l4"'141'4~o'°'PP~,c~,A~L S~&A~l!M''- ~ ... CHONGW, KIM Nolarl Public, $fate of llllnolt M Camml1tlon l!x ,,... Nov, 03, 2014 ommlsslon No. 66324 14 [""'""' .;:::o:a; @u1e&1a& ; :mu:. I (EXHIBITB) SECURITY AGREEMENT '!'HIS SECURITY AGREEMENT (her~fter "Agreement") ls made as of June , 2014 by Fox Cle1111ers Co, ("Guarautot'') and BBCN Bank f/k/a Foster Bank ("Lendet'1 and pertains to certain persoftal property rdatlng to· the real esmte located at 7629 S. Jeffery, Chicago, IL 60649 .(the "Premises'?, I RECITALS WHEREAS, Guarantor has executed and delivered to Lender a Co!Dtnetclal Guaranty (the "Gua.i:anty') of eve.a date wherein Guarantor promises to pay Le.oder the amount of 'l134,840.88 plus any accruing inteteat, late fees and eosw Jn repayment putsUllilt to a Forbearance Agteetnent relating to a Note from Ka Soen Tle and Lushla Y~ Tle to Lend~ (the "Debt'~: and WHEREAS, as seeuclty for the tepaymenf of the Debt, Guar,,ntor is required to execute and deliver to Lender this Agreement. II ]'HEGRAN'I' NOW, THEREFORE, as additional secutlty for the repayment of the Debt by Gw1rantor and the financial accommodations made to Bo.ttower, and for other good and valuable eonsldetatlon, the receipt and sufficiency of which ate heteby acknowledged, Guatantot hereby grnnts to Lender a secutlty Interest in, and collat:erally assigns to Lender, Guaf<tntor's clght, title and interest in the property of Fooc Cleaners Co. descclbed in Exhibit "A" attached hc,:;,to and made a patt hereof. All such propetl:y is collectively t'eferted to herein as the "Goods." lll FARRANTIES AND GENERAL COVENAN'I'S 3.1 Absence of Other SecurJty lntcresta. Guarantor hereby warrants that it has full title to the Goods, free of all 6ecurlty Jntete,w, lieru, alld encumbrances. Guarantor shall defend the Goods against the claims and demands of all petsohs other than Lender and shill not do ·or permit anything to be done that may lmpalt the valu.e o~ the Goods as colfateral hereunder without the prior written consent of Lender. 3.2 Locatioa of Goods. Until a ''Default'' (as that term le defined Jn Patagtaph 4.1 hereof) h,u, occurred, Guarantor may have possession of the Goods 11,nd use the same .in any lawful manner consistent with the provisions of this SecUJ:ity Agreement and all policies -of Jmurance on the Goods. 'I'he Goods shill be kept on the Prerulses and Guarantor, so Jong ns it has full title to the Good,, shall .not pettnit them to be removed from the Premises without the prlor wtltten 15 r:008 ii@ c;: IMI L) ibU.IAli&,M Mi Oilildli I consent of Lende:r, provided that Guarantor •.hall have the right to replace llllJ items of personal property included In the Goods with similar items if (a) such replacements have value and utility equivalent or ·superior to that e:dstiog when the security interest created hereby first attacbed, and (b) 1.ender has obtll.ined a first and pai:amm1nt lien on or security interest in such replacements, and provided fw:thet that the provisions of this Agreement shall not apply to leased equipment or personal property to !he extent said proper~ is encumbered by pur~se money. financing. 3.3 Use of Goods. Guatantor shall use the Goods solely for business purposes ln connection with the operation of the Premises. I 3,4 Goods as P«soMI Ptoperf;y.. Th,e Goods shall remafu personal pro1>erty even if attached to real estRte, except to the extent that th6y become included in the property to which the lien of a Mortgage has attached as a fust and patato.ount lien. 3.5 Maintepattce of l..endet's Lien. Guarantor shall from tline to time execute lllld cause to be executed ~uch additional security agreemebts, financing statements, renewals thereof lllld other documents (and pay the cost of filing and recording the same in all public offices deemed necessary by Lender) and do such other· acts Qncludlng the deposit with Lender of any certificate of title issuable with respect to the Goods, with, an official notation thereon of the security interest hereunder) to establish, maintain and evidence Lepder's security intetest in the Goods, free of all other liens ~nd clalms other than !hose of the other :f..oan Documents. I 3.6 &pair Md lnl!Jlection of Goods., Guarantor shall at all times keeJ> the Goods ln good condition and tepait and shall permit Lender or its agent, to lnspect lhe Good& at 1111 reasonable times. 3.7 · P3Yment of T@xps 011 Goods. Guarantor shall cause all ta,ces and assessments on the Goods or on their use or 01,>etation to be paid when <lue. 3.8 Insurance on Goods. Guatantor ·shall at all tlroes until the indebtedness eecui:ed hereby is paid in full cause the Goods to be lnemed. Lender is hereby authorized (but not obligated) to act as attorney in fact for Guarantot in obtaining, adjusting, settling and cancelling all insurance on the Premises and the Goods, endot'ning any checks or drafts drawn by insurets of the Premises o.nd !he Good•, snd in directing Guarantor to endorse any such checks or drafts as Lender may dlfect. Guo.ra.ntor shall forthwith remit to Lender In tbe form received, with any endorsements necessru:y to effect payment !hereof to Lender, any proceeds of insurance re9ulted or maint-alncd pursuant 1D this Security Agreement that Gual'nntot may receive or that Gua=tor aod any other party or parties may receive. 3, 9 Lender's Right to Pedol'.fll Covenants. :Lender may, from time to tirne at its eleclion, pay any amount or petform any act thaf'Gt1'11tfltor has agreed to do hereundet and that Guarantor shall have failed to do, All moneys so advanced and expeD.11es so Incurred by Lender shall be immediately due and peyable, shall be added to the principal R!Xlount of the Note, shall bear interest at the ''Default lnterest Rate'' (as that term is defined in the Note), and shall be secured by this Agreement and the other Loan Documents as though otlglru,.lly pait of the Note. IV DEFAUL'I'S AND REMEDIES 16, ["IJM&O:M iilillOIM aat.0.i1&!£&i)lll))dll I 4.1 Defaults. Each of the following events shall constitute a default (a "Default'') under thl., Agreement: (a) The matet!al unttuth ottnllterlal deceptiveness of anywam.nty or i:epi:esentatlon herein or Jn any other Loan Do=t n\llde by Guarantor; (b) The fuilu.te by Guarantor to perform aoy obligation under this Agreement for a period in excess of seven (7) days after the date on which notice of the nature of such &!lute ls glven by Lender to Guatantof by ~ertlfied mull, retutn receipt requested; (c) l'he.occurrenC:e of any Defaµlt or Event of Default under the terms of the Note or any of the other Loao Documents beyond the e:xpiration of the applicable notice or gtace period, if any; and (d) The loss, damage ur desttuclion (if uninsured), seizute, levy, forfeiture, dlstrslnt or attachment of any substantial portion of the Goods that materially impalrs any of the intended uses of the Pretnises, 4.2 Remedies. If a De.limit exlats {as cjeflned under 4.1), then at the election of Lender and without furthet demand or notic,e of any kind, Lender may declaoo all indebtedness under the Note or Forbeat1111ce Agteem.ent to be lmo:iediately, due and payable und exercise from time to time any rights and tetnedies available to Lender under the terms of any of the Loan Documents or undet tbe U:nifottn Commercinl Code of Illl,nois in order to collect such indebtedness. Gua.rantor shall, In such event and if Lender so requosts, assemble the; Goods, at GlliUantor's expense, at a convenient place design11ted by Lender. Guat:antor shall pay all expenses incurred by Lender In the collection of such indebtedness, Including, without limitation, attorneys' foes and legal expenses, and lo the repair of any teal estnre or other pro1>erty to which any of the Goods may be affixed. If any notification of intended dlaposition of any of the Goods is required by law, auch notlflcatlon shall be deemed reasonable and proper lf given at lout five (5) days before such ifuposltion, Any p1'0ceeds of the disposition of any of the Goods may be applied by Lender to the payment of the expenses of retaking, holding, preparing for sale, and selling the Goods, including without limltatlo11, attorneys' fees and legal expenses, and any balance of such proceeds may be applied by Lender towatd the payment of such of the indebtedness .~s Lender may from wne to time elect. V MISCELLANEOUS 5,1 Notices. Any .notice thnt Lender or Guarantor inlly desire or be required to w-ve to the other euch party shall be in writing 11.Ud shall be mailed .or delivered In the lntended .recipient thereof at its address herelnabove set.forth, ot at such othet address 11\l such intended recipient may, from time to time, by notice in wtltlng, de.slgnate to the sendec pursuant hereto. Any such notice ' shall be sent in accord with the proylsiope of Section <i of the Forbearance Agtcetnoot. ' !U Governing Law; Lltlgatlon. 'l'H,IS AGREEMENT SH.II.IL BE CONSTRUED AND ENFORCED ACCORDING TO '.I'HE LAWS OF THE STATE OF IWNOIS, TO'I'HE MAXIMUM EXTENT l'ERMtITJID BY LAW, GUARANTOR HEREBY AGREES THAT ALL ACTIONS OR PROCEEDlNGS .ARISING IN CONNECTION 'WITH THIS AGREEMENT SHALL BE TRIED AND DE'IERMINED ONLY IN Tl-IE STATE OR 17 I' iilMi iii I CiiiilOI J) IIM.i,IMO,hi 00111261l I FEDERAL COURTS LOcATED IN 'I'HE COUNTY OF COOK, STATE OF llJ..INOIS, TO 1'HE MAXIMUM IDCTENT PER.MITrED BY LAW, GUARANTOR HEREBY EXPRESSLY WAIVES ANY RIGH'I' IT MAY HAVE TO ASSERT THE DOCTRINE OF FORUM NON CONVENIENS OR TO OBJECT TO VENUE TO THE EXTBNT ANY PROCEEDING rs. BROUGHT IN ACCORDANCE WITH THIS PARAGRAPH. 5,3 BJg!us Md Retnedles. All rights and remedlea· set forth it) this Agreement are, and the holder of the Note and of every othet obligation secured hereby may recover judgment t:heteon, issue execution therefor1; and resort to every other rlght or remedy available at lnw or Ju equity, without first exhausting attd wlt1tout affecting or Jmpaitlng the security of any rlght or remedy afforded hereby. Unlese expressly provided in this Agreemeot to the conttaty, no consent or waiv<lf, whether c:gpress or implied, by, any party to or of any breach or de&ult by any other party in the performance by such other party of its obligations hereunder shall be deemed a consent to or waiver of the performance of any other obligation hereunder. 5.4 Intetptetatlon. If any pxovision of this Agreement, or ,my puagtaph, sentence, clall8e, phrase or word, or the epplicatlon theteof, in any circutnstanc1; is held invalid, the validity of the rdnalnder of thls Agreemeot shall be construed as if such invalid part were n.wer Included herein. 'l'he headings of sections 11nd paragraphs in this Agreement are for convenience of reference only and shall not be construed in any way to lltnlt or define the content, scope or intent of the provisions hereof, & ll8ed in this Agreement, the singular shall include the plutsl 11nd vice-versa, and masculine, femlnit1e M,d neuter pronouns shall be fully interchangeable, when the context so · requlres 1 • 5.6 Suc9essor/l and l\ssigl)~. This Agreement and ell p1"0visions hereof sholl be binding upon Gulll'lll)tof and its successors, assigns 1111d legal represenmtlves, and all other persons or entities claiming tmder or through Guanwtor, 11nd the word "Guarantor," whee used herein, shall Include oil such person• aud entitles and any others liable for the paytneot of the indebtedness secured hereby or any part thereof, whether ot not they have executed the Note or this Agreetnent. The word ''Lender," when ll8cd herein shall lnclnde Lendet's successors, assigns and legal representative•, Including all other holdeti1,. &om time l:o tltne, of the Note, Gullt:llnty •nd Forbearance Agreement. 5.6 Jury Waiver. TO 'THE MAXIMUM EXTENT PERM1TI'ED BY LAW, RACH OF GUARANTOR AND LENDER HEREBY EXPRESSLY WAIVES ANY RIGl·TI' TO TRIAL BY JURY OF ANY AC'I'fON, CAUSE OF ACTION, CLAIM, DEMAND, OR PROCEEDJNG ARISING UNDER OR WITH RESPECT TO THIS AGREEMENT OR THE 01'HER LOAN DOCUMENTS, OR IN ANY WAY CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE DEALINGS OF GUARANTOR AND LENDER WITH RESPEC'I' TO '11-DS AGREEMENT OR THE OTHER WAN DOCUMENTS, OR THE TRANSACTIONS RELATED HERETO, IN RACH CASE WHETHER NOW EXIS'I'1NG OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE MAXIMUM EXT.ENT PERMI'ITED BY LAW, EACH OF GUABAN'I'OR AND LENDER HEREBY AGREES THAT ANY SUCH ACTION, CAUSE OF ACTION, CLAIM, DEMAND OR PROCEEDING SHALL BE DECIDED BY A COURT TRIAL WITHOU'l' A JU:RY AND THAT GUARANTOR OR. LENDER MAY FIL'B A COPY OF THIS AGREEMENT WITH ANY COURT OR OTHER TRIBUNAL AS WRI'I'IBN 18 rJiifoll@COI MBI iiat.O,ii&l&.Ji WiiiiillJ EVIDENCE OF THE CONSENT OF EACH 9F GUARANTOR AND LENDER. TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. , IN WITNESS WHEREOF, Guamntor !ms caused this Agreement to be executed as of the day Md yeat £wit above written, ' GUARANTOR: STATE OF ILLINOIS COUNTY OF COOK ) ) ss ) said Co\Jllty, 1n the State aforesaid, DO HEREBY CER: FY that t;.iJLl1JE'.,-_.,,,.;(../,~~!._(,.~n behalf of Fo:,i: Cleaner• Co. is the same person whose rnune is subsctlbed t the foregoing Instrument, appeared before me this day in petSon and acknowledged that he signed and delivered the ,,aid Colnllletcial See~1rity Agreement to BBCN' '.Bank as his free !llld voluntaty act as aforesaid for the uses and purposes therein set forth, GIVEN under my hand and notatlal seal thi,May of ,A,(,#fL , 2014 f ~ ~ """-"• .-o~F~F.~c"'1A~L~S~EA~I!~"""'~ CHONGW, KIM Notary ~ubll,, Slate of Ullnol, My Commlulon ,,q,lro• Nov, 03, 2014 Comm\,nlon No, 663242 I ! I i 19 I ..JI L['_.ii_lJJ_.iiS-cti- e,-gJ-i.A_.IP._&:S_.MJ_iiJ_,iil-261-J_ _ _ _ _ _ _ _ _ _ _ _ _.;..._ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ *_' I EXlllftITA DESCRIPTION OF GOOPS 1, All Bxl:ul!es and personal property now or hereafter owned by Guarantor and atmched to of contained in and used in connection with Fox Cleaners Co, and the Pte.mlaes located at 7629 S. Jeffery, Chicago, lL 60649 (the "Premises') ot llllY of the lmptovements now or hetenftet located thereon, including without limitation any and all ult conditioners, antennae, bookcases, cabinets, catpeu;, ,coolets, cuetnlns, dchumldlfiets, disposals, doots, drapes, dryers, ducts, dynamos, elevators, englnes, equlpmen4 escalatol.'!l, fans, fittings, floor coverings, furnaces, fw:nl,hlo,gs, furtdture, he..rdware, heatetS, huroidll:lera, loclneratoi:s, lighting, machinery, motors, ovens, 1>ipes, plumbing, pumps, .radiatoi:s, ranges, ~ecteatioJ:1<\l (acillties, refrigerators, screens, security systems, shades, shelving, sinks, s1>tlnklers1 stokers, s.toveli, toilets, ventllatots, wall coverings, Wll!lhets, windows, window coverings, wiring, all renewals oi: replaceme11ts thereof ot articles in substitution therefore, and all 1>roperty owned by Gt1arantot $1i!d now or he.,eaftet used for slmllar purposes in or on the Premises; 2. Guarantors tight, tltle and interest in articles or parw now or hereafter affixed to the property described in Paragraph 1 of this Exhibit A or used in connection with such property, any and al1 replacements for such property, and all other property of a similar ty!?e or used for shnllat purposes JJOW ot hereafter in or on the Premises or any of the Jmpro11ements ilow or hereafter located thereon; 3, Gua±antor '• right, title s.nd interest in all personal property owned by Guarantor and used or to be used in con11ectloJJ with the operittion of the Premises or the conduct of business thereon, including withoutlimitatlon business equipment and inve11totles located on the Premises or clsewhe.,e, together with files, books of account and other records, wherever located; I ,;i I 's 4, Guarantor right, tltle and interest in and to any and all contracts now of hereafter zelatlng r.o the Premise.• and executed by any architects, engineers, or contte.ctoi:s, including all amendments, supplements and revisions thereof, together with al1 of Guarantor 's rights and remedies thete1lnder and the benefit of al1 ·covenants and watta11tles thereon, and also together with all drawlngs, <lesigns, estimates, layout.a, surveys, plats, pfans and specifications by any architect, englnee.t or contractor, Including any IUllepdments, suppletnents and revlslons theteof ind the right to use and eujoy the same, as well as all other tights, licenses, permits, agreements and test results relating r.o constt.uctlon on the Premises; 5. Giuuantor's rlght, tltle and interest in and to any and all contracts now o, hereafter relating to the ope1-atlon of the Premises or the ~onduct of business thereon, includh1g without limitation all management and other se,:vlce contracts, !tlld the rlght to ,ipproprlate and use any and all trade name~ used or to be used in con11ection with such business; 6. Gnarru:,tor 's clght, title and Interest in the tents, issues, deposits (including secudty de1>osits 1111d utility deposits), accounts receivables itnd profits in connection with all leases, contracts, and other agreements with any person or entity peJ:talning to ell or any part of the Premises, whether such agreetncnts have been heretofore or are hereafter made; 20 , rJii&fuSO&iiOiiii iiiil.,,IIMSJIIWiiil&ii I II '/, Guarantor 's right, title and Interest ln all wmest money deposits, proceeds of contract sales, accounts receivable and gene® lnmogtblee relating to the Premises; 8, All of Guaamtor's right, io and proceeds from all fire and ha~al!d, loss-ofclncome and other non.:Jlabillty lo,w:ance policies now or hereafter coveting Improvements now or hereafter located on the Premises or described in this Seeurlty Agreement, the use or occupancy thereof, or the buaioess conducted theteon; ?, All of Guarantot's right, title and Interest ln all awards or payments, Including lntetest thereon, that may be made with respect to the Premises, whether from the right of the exe~e of eminent domain (including any tJ:ansfer made ln lieu of the exerclee of said right) or for any olher Injury to or decrease lo volume of the Premises; and 10, All proceeds from the sale, transfer or pledge of any or all of the foregoing property, 21' : riiMIIIIClll:01 Bi ilii.i,IA&i,MIIIOII 112dii I Bank of Hope v. Ka Soen Tie, et al. AFFIDAVIT OF SONG CHO EXHIBIT "5" Page I of 1 MIDWEST REGION NAPERVILLE 4001 WEST DEVON AVE 1504 NORTH NAPER BOULEVARD CHICAGO IL 60646 NAPERVILLE IL 60563 KA SOEN TIE LUSHIA YUN TIE 3132 SMAY ST CHICAGO IL 60608 Loan Payoff Statement Loan Payoff for: KA SOEN TIE LUSHIA YUN TIE 3132 SMAY ST Loan Number: Date Quoted: Payoff Good To: Method: 100061100001 Jan 25, 2017 Jan 25, 2017 6/6 CHICAGO IL 60608 Collateral: Multiple $118,289.09 Principal: Interest To Jan 25, 2017: $14,577.92 Late Charges: Environmental Fee: $8,037.99 Appraisal Fee: $3,300.00 FP Insurance: $366.92 $9,350.00 212.74 Other Fees: Net Amount Due: $154,134.66 Additional Information One Day's Interest: $16.43 151/CLCl 151.aspx?&Action=PAYOFFS... 1/25/2017 Bank of Hope v. Ka Soen Tie, et al. BANK OF HOPE'S MOTION FOR ENTRY OF JUDGMENT BY CONFESSION EXHIBIT "B" IN THE UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS, EASTERN DIVISION Bank of Hope as successor to Foster Bank, ) ) Plaintiff, ) ) v. ) ) Ka Soen Tie, Lushia Yun Tie and Fox Cleaners Co., ) ) Defendant(s). ) No. 17-cv-00597 Honorable Mattbew F. Kennelly AFFIDAVIT OF ALEXANDER WRIGHT The undersigned being first duly sworn on oath states the following: 1. I am one of the attorneys of record for Bank of Hope as successor to Foster Bank, Plaintiff in this matter and I have been licensed to practice law in the state of Illinois since 2013. I have knowledge and experience handling like matters. 2. Attached is a 1-page fee sheet detailing the services performed in conjunction with the above-captioned matter. The detailed sheet was produced from my firm's billing system called TABS. TABS is reliable, accurate and widely used in the legal community to keep and maintain billing records. 3. The attached statement indicates the costs and services performed and the amount of time spent in handling this matter. Additional time will be spent in traveling to and from Court and presenting this case to Court for Judgment. The hourly rate charged by our firm is $275.00 which is within the range of fees customarily charged by firms in this area handling like matters. The attached sheet shows that a total of 14.60 hours of work were performed on this matter, for a total of $3,990.00 in fees. Additionally, costs of $901.84 were generated. Plaintiff seeks Court approval for an award of attorney's fees and costs in the amount of $4,891.84. 4. Under penalties provided by law pursuant to Section 1-109 of the Illinois Code of Civil Procedure, the undersigned certifies that the statements set forth in this instrument are true and correct. Dated: January 30, 2017 Respectfully submitted, ASHEN IFAULKNER By: IS/Alexander Wright Alexander N. Wright Attorney for Bank of Hope 217 N. Jefferson St., Suite 601 Chicago, Illinois 60661 312.655.0800 I Atty. No.: 6314304 Date: 01/30/2017 Page: 1 Detail Transaction FIie List Law Offices of Deborah S. Ashen, Ltd. Trans Date Client Client ID 138.0057 Bank of Hope Tmkr " Rate Hours to Bill 250.00 1.00 275.00 0.75 H Tcodef Task Code 138.0057 04/24/2014 3 A 138.0057 138.0057 04/24/2014 04/29/2014 1 A 3 A 138.0057 05/15/2014 1 A 275.00 138.0057 05/27/2014 3 A 275.00 3.25 138.0057 05129/2014 3 A 275.00 1.00 138.0057 12/05/2014 3 A 275.00 2.25 138.0057 12/08/2014 3 A 275.00 138.0057 10/07/2016 5 A 275.00 0.50 138.0057 01/03/2017 5 p 275.00 1.10 138.0057 138.0057 01/06/2017 01/18/2017 1 p 5 p 1.840 275.00 0.20 138.0057 01/23/2017 5 p 275.00 1.50 138.0057 01/24/2017 5 p 275.00 0.40 138.0057 01/25/2017 5 p 275.00 0.25 138.0057 138.0057 01/26/2017 01/26/2017 1 p 5 p 70 1 275.00 0.50 138.0057 138.0057 01/27/2017 01/30/2017 5 p 5 p 1 1 275.00 275.00 0.60 1.30 Totalfor Cttent t[) 136,0067. 50 1 70 1 . )llllable C:: "14,60 : Amount 250.00 Ordered minutes of Foreclosure. Reviewed all underlying documents, including the Note and Mortgage. 500.00 Minutes of Foreclosure 206.25 Reviewed minutes and all underlying title documents. Prepared the demand letter and fmward to client for approval. 0.00 Borrower contacted Bank to by to do a workout. Bank requested hold file in abeyance while attempt to work out payout. 893.75 Reviewed the term sheet and revised term sheet for the forbearance agreement. Drafted the forbearance agreement along with the Commercial Guaranty and Security Agreement of Fox Cleaners. Researched the Illinois Secretary of State to check the status of Fox Cleaners and forwarded same to J. Min at BBCN. 275.00 Made revisions to the Forbearance Agreement, Commercial Guaranty and Security AGreement and forwarded to client 618.75 Per client, Borrower defaulted on the Forbearance Agreement. Provide updated payoff and requested move forward with immediately foreclosure. Review loan docs and forbearance and drafted the Complaint, Lis Pendens and Affidavit of publication. Also drafted the motion for publication. Prepared pleadings for filing in federal court. 0.00 Reviewed email correspondence from bank advising us to hold off from filing suit. We will hold file in abeyance until further direction from client. 137.50 Review loan document for setoff language, advise bank of right to setoff under current accounts. 302.50 Review Bank's loan documents In preparation for demand. Loan was secured by two properties, one was previously sold. Borrowers own home, taxes current. Forbearance in 2014, loan then guaranteed by corp. and further secured by security agreement. Review notice provisions in loan documents, draft and send demand to borrowers and corporate guarantor. 1.84 postage 55.00 Demand has now expired. Bank would like to proceed with litigation. Follow up to confirm that Bank will not currently seek to foreclose. 412.50 Review NDIL rule for Judgment by Confession and draft Complaint. Follow up with Bank on prove~up affidavit 110.00 Update Bank Affidavit for execution, update Bank on status of matter. 68.75 Emails with client in Re payoff and fees. Request updated payoff. Update affidavit for client execution. 400.00 Filing fee 137.50 Finalize and filed Complaint for Judgment by Confession. 165.00 Draft Motion for Judgment. 357.50 Complete and file Motion for Judgment. Compile Exhibits . 14.60 ARCH ARCH ARCH ARCH ARCH ARCH ARCH ARCH ARCH 9 4 10 11 12 13 5 14 15 16 }f?>: ..,, , i .•,r,a9.1,!l.(I :.!l•~lf)(!;lep~£.;{c! c•• · · · Tle,J~a Soon & LijshlaY~nTJe:1J0006J1c1 ,;_,._;;\_~-:r;: GRAND TOTALS Billable Ref# ,;,~>---- 4,891.84 ---··---·---·---- Monday 01iJ01201711:57 am

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