Bank of Hope as successor to Foster Bank v. Suh et al
Filing
14
MOTION by Plaintiff Bank of Hope as successor to Foster Bank for default judgment as to Min S. Suh and Angela Suh, MOTION by Plaintiff Bank of Hope as successor to Foster Bank for judgment of Foreclosure and Sale (Attachments: # 1 Exhibit A-B)(Wright, Alexander)
IN THE UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS, EASTERN DIVISION
Bank of Hope, successor to Foster Bank,
)
)
~)
Plaintiff,
v.
Min S. Suh and Angela Suh,
Defendants.
)
)
)
)
No:
17-cv-02116
Property: 2360-2400 Walnut Ave.,
Hanover Park, IL 60133
Commercial
AFFIDAVIT OF KELLY CHO
I, Kelly 010, being first duly sworn 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 Min S. Suh and Angela Suh (collectively, "Borrowers").
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 shows the following:
A
On or about September 1, 2010, Borrowers executed a Promissory Note in favor of
Plaintiff in the original amount of $1,009,419.35. On or about December 7, 2012,
Borrowers executed an Amendment/Extension to Commercial Mortgage Balloon
Note ("Amendment"), which amended certain terms of the Promissory Note. The
Promissory Note, as modified by the Amendment, shall be referred to herein as the
"Note." 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
commercial property commonly known as 2360-2400 Walnut Ave., Hanover Park,
IL 60133. A true and correct copy o(the Mortgage is attached hereto as "Exhibit
C.
Borrowers defaulted on the Note by failing to pay the balance in full on or before
the maturity date of September 1, 2015.
D.
As of March 29, 2017, the amount in default under the Note is $1,039,061.61, which
includes principal in the amount of $879,090.18, interest in the amount of
$90,045.69, late charges of $371.57, environmental fees of $1,900.00 and a negative
escrow balance of $67,654.17. The Note has a per diem interest rate of $152.62,
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 knowledge and upon my own personal review of Borrowers' loan records,
including the
Loan Payoff Statement dated March 29, 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 3."
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 FiseIV (herein "FiseIV") 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 Banks regular and ordinary course of business to enter incoming credits,
payments or costs into FiseIV 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. FiseIV 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 FiseIV to
generate the Payoff. FiseIV 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 performed all that has been required of it to be performed under the
Note. The Bank has demanded that Borrowers fulfill their obligations under the Note, 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:
C
~--~
Kellyeho,
First Vice President, Bank of Hope
Dated: March
1=fl._, 2017
Bank of Hope, successor to Foster Bank v. Min S. Suh and Angela Suh
AFFIDAVIT OF KELLY CHO
EXHIBIT "1"
..
MINS, SUH;ANGELASUH
1495 NORTH SANDERS ROAD
NORTHBROOK, IL 60062
.;
foster Bank
5225 North K111b:i1tA,e.
Chicago, IL 60625
loan Number 100~63-l
Dete01l:0]·201D
Maturi1y Date
Q!MH·2DUi
loan Amount$ 1,009 419.35
Renew.al Of
LENDER'S NAME AND ADDRESS
BORROWER'S NAME AND ADDRESS
·1• includos uch borrower abov11, jointly and sttvenilly. •vo1,1" mea.ns 1he hmdar, il!l succusors and assigns.
For v11Jue received, I p1omiae to pay to you, o, your order, at your eddrass listed above tho PRINCIPAL sum of
if\d 361100
Slngle Advenoe: I will receive all of this princip11! sum on
[XI
.!IDlUllil!i.!mlbousoru\ four hurnlr@d njD@)WO
Dollars $,J~Q~DQ~4~]~9~3~5_ _ _ _ _ _ _ _ _ _ __
09-01-2010
, No additional advances are contemplated under thl, note.
0 MuNlple Advance: The principal sum shown above is the maximum amount of p1incipal I can borrow under this note. O n - - - - - - - - - and future principal advances are contemplated.
_ _ _ _ _ _ _ I will receive 1he amount of $
Condithnu:;; The cor.dillons for future advances am - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
D
Open End Credit: You 1md I 11gree thin I may borrow up to the maxim1.1m amount of principal morn then one tirne, This feature ls subje~t to
al! other conditions end expires on - - - - - - - - - - - - - - - - - -
0 CloHd End Credit: You and I agree that I may borrow up to the maximum only one time land subject to ell other conditions),
INTEREST: I agreo:, to pay lnterel.lt on the outstanding principal balance from
09·01·20]0
per year until !OUU·!hlfil!L_______________________
at the rate
of
6.260%
D Vndabkt Rate: This rate may then change ea alatad below.
D lndox Rate: Ths future rate will b e - - - - - - - - - - - thft folfowlng index n1te: - - - - - - - - - - - - - - - - - -
D
No:, Index: The future rate will not be subject to any Internal or external index. It will be entirely In your control.
D
Fn,quency and Timing: Tho rate on thhl note may chango as often m1 - - - - - - - - - - - - - - - - - - - - - - - - -
A change In the interest rate win take effoct - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - Limthitlons: During tha term of this loan, the applicable annual fntert1st rete will not ba more than
% or less lhan
- - - - - - - - - - % . T h e rate may not change more then
% each - - - - - - - - - - Effeot of V11rf11bl& Rate: A change in the interest rate will have the following effoct on the payments:
0 The amount of e11ch schaduled peyment will change.
D The amount of the final pilyment will change.
0
D
ACCAUAL METHOD: Interest will be calcuh1tiuJ on fl
Aclual/380
basis.
POST MATURITY RATE: I agree to pay interest on the unpaid balance of this note owing after m11turity, and until p11id in full, as stated balow:
D on the same flxed or variable rate basis in effect before maiurity (as indicated above).
00 at a r<1te equal to 5%0YERTHEINTERESJRATEINOENJJFIEOINTH1SNOTE
15
days after It is due, I agree to pay
a late charga of 5.QOQ" of lhe late &mOUOl with a
[XI
LATE CHARGE: If a payment is made mare than
! of 25.00
D
RETURN CHECK CHARGE. I agree to pay the greater of$ _ _ _ _ _ _ _ _ or all costs end e1Cpenses incurred in connect1on with any payment
D
on this lc;ian that is nstumed beceu,e h has bean dishonored.
ADDITIONAL CHARGES: In eddition to interest, I agree to pay the following charges which
O
are
D
ara not Included In the principal amount
above:
PAYMENTS: I agree to pay this note as- follows:
59monthly paymenls of $7,431,43beginning 10-01·2010and l balloon payroont of $869, 155.71 on 09-01,2016.
ADDITIONAL TERMS:
COLlA TERAL: FIRST MORTGAGE AGAINST THE COMMERCIAL PROPERT'i LOCATED AT 2360-2400WALNUT AYE., HANOVER PARK, IL
D
SECURITY: Thia nQl& is separntely secured by (describe separate
doi::ument by type and data):
(Thi• n.:1\00 i:I '"' ygu/ !11tt1n11,n•, F•Our. to list I upll•I• HCU!I\V d0<:um0f'II dPU rlO'l !IIHll th•
ag,um,
pu1pose th11t wlll contribute to excessive e1oslon of highly e1odibla land 01
lo the convcr:iion ol wetlands to p1oduce an agricuhural commodity, as
fmther explained in 7 C,F,R. Part 1940, Svbpan G, Exhlbh M,
REMEDIES: If I am in defauh on this note you have. but are not !lmiled to.
the lollowing remedies:
(1)You may demand immediate payment of all I ow, you under this
note (principal, accrued unp.iid interest and other acc,ued charges).
121 You may set off this debt against any right I have to lhe payment
al money ftom you, subject to the terms of the "Set-Ofr
pa1agtaph herein.
13) You may demand security. addi1ional secu1hy, Of additional panies
10 be obligated to pay 1his note as s condition for not using anv
othe, remedy.
(41 You may iefulle to mske advances to ma or allow pu1cheses on
c1edit ~Y me.
·
15} You may vse any remedy you have under state or leden1l lew.
By selecting 11ny one or more of these 1emedies you do not give up
your right to late, use any other remedy. By waiving you1 right to declrue
an event to be a default, you do nol waive you, 1ight to 18181 conside1 the
event as a default if It continUe:i or happens ageln.
CONFESSION OF JUDGMENT: If agreed on page 1. then. In addition to
your u1madles listed herein. I 11vtho1lre any attorney to appear in eny
comt of 1eco1d h11ving jwlsdiction ove, this matter and to confess
judgment, wi1hout process, against me, in favor of you, to, eny unpaid
p1indp11I, eccrued Interest and acctued charges due on 1his ag1eemen1,
tog111her with <:o!lootion costs /m:;luding reasonable attorney's lees.
COUECTION COSTS ANO ATTORNEY·s FEES: I agrae lo rav all costs of
collection, replevin or any other or simil11r 1ype of cost ii em in delault.
In addition, if you hire an attarney to collee1 this no1e, 1 i:,lso ag,ee to pay
eny fee you incu, with such anomev plus court costs !except whe1e
prohibited by law). To 1he extent pe1mitted by the United States
B.11nk1uptcy Code, I also agrea to pay the 1easonable attornev·s fees and
costs you inc.u, to collect this debt as awarded by any cou,t exercising
jurlsdictlon under !he Bank,uplcy Code.
WAIVER: I give up my 1ights 10 require you to do certain things. I will no1
require you to:
111 demand payment of amounts due 11:uesentment);
121 obtain o!lic,el certification of nonpayment lp1otest1; o,
131 give notlco that amounts due have not been paid (notice of
dishono1).
,
I weivc any defensas- I have based on su,etyship or impehmenl of
c0Hete1at
OBLIGATIONS INDEPENDENT: I understand lhat I rr,ust pay this note
even ii i;omeone else has also og1eed 10 pi,;y h {by, for example, signing
this form or e sepau1te guuumtee or andorsementl. You may sue me
alone, or anyone else who is oblig;,ted on this note, or any number of us
together, to collect this note. You may do so whhout any notice 1hot i1
has not been paid (notice ol dishono1). You may without notke ,alaase
ony party to this agreement without releasing env other party. If vou give
up any of your 1ighls, wilh or without nolice, it will not affect mv duly to
pay this nole. Any extension ol new credit to any of us, or tenewet ol
this note by all 01 less than ell of us will not 1etease me from my duly to
pay ii. lOf comse, you are enlilled 111 only one payment in full.) l agree
that you mey al your option extend thrs note or th11 debt rep1e,ented by
this note, or any portion of the no1e 01 debt. llom time 10 time without
limit or not[ce a:nd lor any term without effecting ml Hability for paymenl
of the note. I wlll not assign my obllgatlon unde1 th s agreement without
your prio, wrinan 11pproval.
FINANCIAL INFORMATION: I ag1ee to provide you, upon request, any
financial s1a1cment 01 information you may deem necessa1y. I wa11an1
that the fin1mcial s1a11men1s and information I provide to you are o, will
be accura(e, couect and complete.
NOTICE: Unleu othe1wise required by l11w, any notice to me sh&!! be
given by dellve,ing it or by melting ii by fir.st cl11ss mail addressed to me
at my IHI known addre$s. My current addn:1s15 is on page 1. I egiee 10
inform you in writing of 1my change in my add1ass. I wHJ givo anv notice
to you by mailing il first class 10 vour address stated on page 1 of this
agreement. or to any othe1 address that you have designated.
DEFINITIONS: As used on page 1, "O!I" means the ierms that e1;1ply to
this l1rnn. "I," "me" or "my" me,ins each Bouower who signs 1h1s note
and each olhe, person or legal entity !including guarantors, endorsers,
and sure1ies) who agrees to pay this note llogethcr referred to as "us"},
"You" or "vovr" means the lender end Jts successors end assigns.
APPLICABLE: lAW: The law of the slate of Illinois wilt govorn this note,
Any te,m of 1hi11 noto which Is contuuy 10 tipplicable low will not be
effective, un1eu the law permits you and me to ag1eii to such e vo1iation.
If 1my provifion of this og1eement cannot be enl(>rced according to Its
terms, this fact will not alfect the enforceability of the remainder of this
agreement, No modlflcetion of this .11greement may be, msdi,, withoul your
e,xpress written conaent. Time i11 of the euen.::e in thls egreemenl,
COMMISSIONS OR OTHER REMUNERATION; I understend 11nd l!IQIIIII the,t
any i11sur11nce premiums paid to lnsurnnce comp1miH e, part of thi• note
wm Involve moni:iy ,111ained by you or p11ld back to you as commissions 01
other ramunartulon.
In addition, I undeutend end egree 1hat some 01her paymen1s to third
partiH as part of this note may also involve money reta!ned by you o,
paid back to you H commissions or other remune1atlon.
PAYMENTS: Each payment I make on this nota wUI fir$t 1educe the
amount I owtl you for cha1ges which are neither Interest nor principal.
The remaindnr of each payment will then reduce accrued unpaid interest,
nnd then vnpald principel. If you and I 0111e11 to a different apptlclltlon ol
payments, we wlll ducrlba om agreement on this note. I may prepey e
part ol, or the entire bahmce of this loon without penalty, unless we
specify to the col\lrary on lhls note. Any partial prepayment will not
excuse or rnduca any late, scheduled paymant until this note Is paid In hill
(unless, when I make lhe prepayment, you 11nd I agrea in w1i1ing to 1he
contrary},
·
INTEREST; fntereirt accrues an the principal remaining unpaid from time
10 time, until paid in full. If I receive the p1incipal in more than one
advance, each advance will ste1t to earo Interest Qnly when I receive lhe
advance. The Interest rate in effect on thi:i note at eny given time win
apply to the entire principal advanced at that time, Notwithstanding
anything to Iha contrary, I dQ not ag1ee to pay and you do not intend to
cha,ge any rnte of Interest that is higher then the meximum rate of
Interest you could charge und"r applicable law !or the extenlllon or credit
that is egread to he1e !either before or afler maturity). II any notice of
interest acc,ual is sent and is In e1101, we mutuBIIY agree lo co1tecl it,
and if you ecluelly collect more interest than allowed by law end this
agreement, you egra11 to tefund It to me.
INDEX RATE: Tho Index w!l1 se1ve only as a device fo1 setting the rate on
this note. You do not guarantee by selecting this Index, or the margin,
that the rate on thfs note will be the same rate you cha1ge on 1my olher
loanll or class of loans 10 me or olher bonowers.
ACCRUAL METHOD: The amount ol interest thel I wm pay on this loan
will be c11h::uteted using the ioteresl rate and accrual method staHrd an
page 1 of this note. For the pu,pose of interest catculatlon, the accrual
method wltl determine the nvmber of day.:, in a "year.~ If no accrual
method is stated, then you may use eny reasonable ecc1u11I method for
calculating interest,
POST MATURITY RATE: For purposes of deciding when 1he "Post
Maturity Rote" (shown on page 11 applies, the term "maturity" means the
date of the last scheduled payment inclicl)ted on pego 1 of this note 01
the date you accelerate payment on the note, whichever Is ea11ler.
SINGLE ADVANCE t.OANS: If this is a single advance loan, you and I
expect that you wlll meka only one eclvance ol p1lnclpel. However, you
may add other emounts to lhe principal if you make eny paymenls
d1m:rlbed In the "PAYMENTS BY LENDER" paragraph below.
MULTIPLE ADVANCE LOANS: II this is a multiple advance loan, you end I
expect that you will make more 1hen one advance of principal. If this is
closed end credit, repaying a pert of tha principal wlll not entilla me to
additional credit.
PAYMENTS BY LENDER; If you are suthorized to pay, on my beh111f,
chmges I em obllgated to pay (such as prope,ty insurance psemiums).
then you may treat those payments made by you as advances and odd
them to the unp11!d princlpel under this note, or you may demand
immediate paym1mt of the cha1ges.
SET-OFF: 1agiee that you may :iet off any amount due and payable under
this note agalnllt 11ny 1lgh1 I have to receive money !rem you.
"Right to receive money from you• means:
( 1) any deposll account balance I have with you;
12) any money owed to me on an Item presented 10 you or in you,
possession 101 collection or exchange; end
13) any repurchase ag1eemenl or other nondeposil obtlgatlon.
·Any amounl dve end payable under this note• means the 10101
amount of which you are entitled to demand peymenl under lhe terms of
this note at the time you set off. This total includes any balance the due
date for which you properly ac~e1erate under this note.
If my right to receive money lrom you Is also owned by someone who
has not 11gri,;ed to pay this note, your 1lght of se1•off will epply to my
Interest in the obligation and 10 eny othe, amounts I could withdraw on
my sole request 01 endorsement. Your right of set•off does- not apply to
an account or other ob!igelion where my rlghls are only es "
repre,entalive. It also does not apply to .iny Individual Aetlremenl
Account or othe1 tax-deferred retlremcnl account.
You will not be lieble fol the dishonor of any check when the di$honor
occuis because you set oU this debt against any of mY account$. I agree
to hold you harmless from any such clalms arising os e. ,esult of you,
axarcise of \"OUf light of set·olf,
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Loan #1004363 00001
AMENDMENT/EXTENSION
TO
COMMERCIAL MORTGAGE BALLOON NOTE
Date of Note:
September l, 2010
Amount of Note:
$1,009,419.35
Interest Rate:
6.25% Fixed
Amortized Period:
240 Months
Maturity Date:
September l, 2015
Borrower/Mortgagor:
Min S. Suh and Angela Suh
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:
Current Balance:
$951,263.88
New Monthly Payment:
Interest and tax escrow payments only
Effective Period:
December l, 2012 payment through March 1, 2013
Regular scheduled monthly payments will resume
for April 1, 2013 payment
All other terms and conditions of the Note shall remain the same.
Scanned and Verified by: BBCN\TH06486 on 8/28/2014
Loan #1004363 00001
Dated this
7-k.
day of December, 2012
Lender/Mortgagee:
FOSTER BANK, an Illinois banking corporation
B~n~
TITLE: Loan Officer
Borrowers: Min S. Suh and Angela Suh
MINS. SUH
ANGELAS
canned and Verified by: BBCN\TH06486 on 8/28/2014
••
Bank of Hope, successor to Foster Bank v. Min S. Suh and Angela Suh
AFFIDAVIT OF KELLY CHO
EXHIBIT "2"
Illinois Anti-Predatory
Lending Database
Program
Dool/:
1026229041 Fee: $68.00
Eugene •Gene• Moore AHSP Fee:$10.00
Cook County Reoo,der of Deeds
Date: 09/09/2010 12:29 PM Pg: 1 of 12
Certificate of Exemption
.___
"co
''I
'::}--
Report Mortgage Fraud
800-532-8785
f't<; ,-~~~~~~~~~~-L..~~~~~~--~~--~~~~~~~~~~~~~~---·
roo
The property identified as:
ef.)
Address:
Street:
PIN: 06-36-311-035-0000
2360-2400 WALNUT AVENUE
Street line 2:
City: HANOVER PARK
State: IL
ZIP Code: 60133
Lender. FOSTER BANK
0
Borrower: MINS. SUH AND ANGELA SUH, HUSBAND AND WIFE, AS JOINT TENANTS
J~:
:::..1
Loan/ Mortgage Amount: $1,009.419.35
This property Is located Within the program area and the transaction is exempt from the requirements of 765 ILCS 77170
et seq. because the application was taken by an exempt entity.
Certificate number: 7395DDOF-5956-46D7-B3F4-B424D95C66E3
'" .........-_ ... , ')"··•·••! •k ~-•--1-->lf-· ~- ., -· --·-
· "• l ! ,
Execution date: 09/0112010
1025229041 Page: 2 of 12
This instrument was prepared by:
Foster Bank
5225 North Kedzie Ave.
Chicago, IL 60625
When recorded return to (name, address);
Foster Bank/AMY CHANG
5225 North Kedzie Ave.
Chicago, IL 60625
LOAN# 1004363-1
- - - - State of Illinois - - - - - - - - - - - - Space Above This Line For Recording Data - - - - -
REAL ESTATE MORTGAGE
(With Future Advance Clause)
and
1. DATE AND PARTIES. Tha date of this Mortgage (Security Instrument) is ------'-"9n Explws o,c 21, 2011
Exj:J'ercl."'
©1993, 2001 B,mk1111SyAtom1, lne,, S1. Cloud, MN folm A.GCO FIESHL 1212712002
--··•r .,... , · ··• · · .n~· · -.o.•t-e, .,., •· .__,,._,K···'" ,.....,..._,,__,,.,,_._, •. ,.. •··"I·
(pagp 7 of BJ
1025229041 Page: 9 of 12
STATE OF _ _ _ _ _ _ _ _ _ _ _ . COUNTY O F - - - - - - - - - (tti,unon
or fnlUy
........... } ss.
This instrument was acknowledged before me this ______ day of
by
i\tknowlm!,iment)
----
- - - - - - - - - - - - - - !Tltl~/$))
of _ _ _ _ _ _ _ _ __
- - - - - - - - - - - - - - - - - - - - - - - - / N 1 m ' 1 o f B 1 . 1 , l ! l f a s o r 1:riti1yl
·-------------------
....... ,... v,,, _ _
on behalf of the business or entity.
My commission expires:
-----·--~~C7'C"c-----!Notary Public:)
(PiJU8
!} of 8)
//.'1
vv·~- _
~ u @199:l, 2001 8anko1eSy~1am~. Inc., St. CIO''----- - - - - - - - - - - [XI Sln"h• Adv11moei I will re,;;eive 1'111 of this principc1) $Um on
09·01·2010
. No addition11I adVOt!Cft& are conti,mp\ated undar thh• note.
0 Multiple Advenoe: The princlpel sum shown l.'lbove Is the maximum amount of principal I con borrow lJOd1tr this note. On _ _ _ _ _ _ _ _ .
____ aod future principal advances 11rc contemplated.
--...- - ~ " - - - - I will recoive the amount of $ - - - - - - - - ·
Conditions: l'h0 c1.mdi1ionti tor future adv.anc~s eire - - - - - - " - - - - - · " - ~ " " · - - · - - - - - - - - - - - - - - - - · · - - - - -
D
------- ------------··--·"--··-------------------·
Op,m End c,.dlt: You and I agree th•t I rm!IY botrow up to thl'l maKlrnum l'lmoun1 of ptlnclpel more th•n ona time. Thts f•ature i:ia tiUbJ1H.:t to
all other condition:, and t1Xpirc:1 on - - · · - - - - - ·
Closed End Credit: You and I agree that I mev bonow up to thu n1eiximurn only one timo lnnd nubject to 11111 other condition:,).
IN'flt~EST: I agreo to pay intore~ on the outs~nndlng pr!nclpel balance from
Q0,01·2010
lilt the rate o-f
0
6.25!)%
per year until 0B:D1·20J6
Va,;nbk> ""'"' TMo rn11<11' b for y<>Ur 11,10,1111 ,.,.., Fo1kl•<' t<> I••' • ••pu,o.., o<:un1y docu,...,,nt don""' maan 1'1•
.. grum•nl WIii n<>l • ..,,.,,. tt\/1 n01.• I
s;i;in<1ture lor L11nder
. -----------
...
"--··~·
the
tl'l'1ms
of
tht!
SIGNATURES: I AGREE To THli TERMS OF THIS NOTE !INCLUDING
THOSE ON PAGj;: 21. I have received Ill copy or, today's date .
~..
xi~
MINS. SUH
ANGELA SUH
~
----------··--UNIVERSAL NOTE
~do"
a-1e1Jd, Ill(! I ll~nka,al>yst•m•. lno., s,. Cl""--'d, MN f<>ITT' UN·I\. 3/6/2002
... >,H
••· • "•!•~,l•>ri•••I••.-,, .. k•> ,II!
IPndef ,mrl irn succi:ssors Eind 1:1!tsigns.
APPLICABLE LAW: Thi"< h•w of the ,stale of 111\nois wHI govern th1.'l noto,.
Any term of this nMe which. Is contrary to apphe;!'lble law will not be
effective, unless the law permits you ;iind me to oi'gree to such a var1111ion.
~~r~r. ~h~: 1t1~~ :;rut~~~ :r;:it~~:t e~f~~;;a~irit~nir~~"'ed ,;~c:ei~~j::r'' o} o~l:
0
,i9rccmcnt, No modifjcQtion of this Bgteemont may be made witho\lt you,
c,xpres.:. writttm con1 note
will involvto money retained by you or pb!d b(!ICk lo vou as comm1.ssions or
othar rUmuneration.
In addition, t under!ltemd ;md agree th.it some other peymot\ts 10 th1rci
partie.s a11 pan
th1:o. note may also involve money rfltained h,, you or
pl.Iii;/ back to you as comrn1ssio1u1 or other remunerntum.
PAYMENTS: Each paymeht t make on lhil> note will first reduce the
amount I owe you for charoa11 which &re neither mterflst no1 ptil'lcipal.
The rema!ndflf of ee,ch peyrnent will than raduce -tccn.H~tl unpmd interest,
tind then unpsid principal. If you and I l'lgro« to a Qiffuront appficanon ,:,f
payments, we will cle11crib1t our ,.greemnnl on this note. I moy prepay A
pa,t of. 01 the, entire, beh111H:e of this loan without penalty, unle,;:1 we
specify to the contriuy
!his note. Anv partial prttpaymant will nor
exnu111t or ruducti any later sch8dulod p.tymenl until this note 1s p&1d ln full
(unlo1111, Wh•m I make the prepayment. you and I »'°nee 1n writing to the
contrary).
INTEREST; Interest accrues on !he pnncipal remain111g unpaid from !Im..:
to time, until paid in full. If I receive the principal in more th1m one
advtmce, each advance wll/ _stert to earn Interest only whun l recent,;, the
advance. The interest rot~ in effect on tllis note at a11y givlln time w,U
apply t(> the entita principal advanoetl 1111 that time-. Notw1thste/\dln9
anything to the oontrary, I do not agree to pay and you do not intend to
r maturity). If el"'ly notice of
interest accrual 1s sent and is in ,;,nor, we mutually agree to correct ,t,
ond if you actually collect morn intere~l than allow,id by law and this
of
on
or
rsc,e,t;z,~'A\l:°¥::~~~ot; :1:1u~:r~et~ni{l~s,.
this nota, You do not DUflrantee by
that the rate on thls note will be the
10131'18 or r.Jass of l<1ans ~o me or other
ACCRUAL METHOD: The arnount of
will be caloufatecl ui~ing the mterest
device to, 6eninQ th" ,m\ ,,.,.,
ootrilo or a re:irt;lence thee rn peutt it a11v on" 01 nH,tti ot th« J oUr,w,ny o,,c.111 · , '., 1
fall to make a payn\ent on t1rt1e or 1n the amount due; 121 I fait tt,
th'.l
property rnsured, 1f required; 13} I fail to pay, or keep any prorn1:.ie. vn an·,
dttbt OI" ngreament I have with you; 141 &ny other crad1tor of mine .ittemptst r,
colh,ot iony do,bt I ow& him thfOu1,1h court pri:n::IUlding,;, !6) I di<>. am d.,,:J.-,,,,.d
incompet~nt, make .in assignment for thfl benoi,fit of c1ed1tor~. or becomH
insolvem (erther bticllu.'ltr MV li1:1blllt1e.s exceed lll\o a."lsets or I am unl'lble 10
pny mv debts as they becornt1 due); 16) J make, arw wrllten statemer,t ,.,,
provide any financial 1nformat1011 that,~ un1n1e o, ,naccura,,-, 61 the l1rne H
was provided: 171 I di"> or fail 10 cio l!iOFTH:ithing wlw.:h CffVSe:s v,,u re
beliova that you w/11 hove dlfficully oollecting the arnmmt t owe V<>ll; rn;
any uollateral securing this notfl i.1; usetd in a manne, 01 for ~ pwno~e,
wtm;h tluea,ums nnnfiscauon by a lenal au1hor11y; UJI I clMnue mv ,,;,,r,l•
or assume an addltion,il name w1thriut first 1101itv111g yvu b..,forn rr,il;;m•J
nuch " change; {10) I hul to pt.,.nt, cultivnle a,r,d hmves1 c:r produce an agracuh1.11al cornm<>cl•n 1,~
further f!Xplamed 1n 7 C.F-.R, Part 1940, $ubp<1rt G, f.>it M
REMEDIES; It I am ,n defi"\ul! on this notti you h;,v(I. tn,t a .., '""~1 1,,.,-,,tr.r.1 ,,,
the tollowlng r<5imedies:
11) You may demand rn101ed1ate pl!lymnnt of 11,U ! owe yff this debt against any right I have'" tht, p<1vrn~ni
of money hom you, subject to tile 1arrr11s of the "Set 011puragraph hereli\,
(.')) You may dtlm;!lnd socur11y. addmonal :.ecunty, or addrtion<1I P'lrt,.,.,
to be. obligan1d 10 pay 1h1~ notti El$ >1 condition 101 ,wt u,;,n,i .. ,..,~
other rem"'dy.
14) You n\lly n:f1111e to make advance!! to nui Of <1Uow pu1,:;i,,.,,,..,,, ,,,~
credit by me.
161 You may use r,n, remedy you have unde1 >1tale Of ft1dar11l 1aw.
By sel"ctmg any ono o, mo1 ft ol these remedies you do noi o•v<· 'IP
y(lur righl rn later use 1ddttw11 H,
your remediei,. listed h111r<":in, ! o11utho11ze ant attorn>1y to appe.:ir m ;.mv
court or record having 1udad1,:,t.on over thf$ matter "nd to crmfe,;s
Judgmant, without pr<'.)ces<>. ag;!>Jnsl me, 1n favor of you, for 11-rw 1mna,d
principal, l)i:;¢rua,;t ,nt,.:1ost llnd accrued ch.-rge~ due cm thi~ agrt.emt.nl.
""'"I->
~U~ho~ ~t\ie~:r'~'rn~o~~~en~~~:r'off(J~~=ritoC~)~~~~~l~1f ~~: =~~~~=i g'8tli~Ti0~ ~~ :T~ AJ0 )t~OW~ ~Q.;e}~1"s~bi'ei1~~!:r~~v~:::~tcostf> (>f
c:<:>IJec1ion, r.,plevin or ~nv o!hcr 01 similar typt> of co~t if I am in default.
of
In addition, if you hire QI) auornfly to oolllHll this no1e, I also agr,n, to p,w
Bfly lee you incu, wuh suroh attorn.,y p/us c:oi.,rt costs (~xcep1 wht.,<:
method is stared, then you may uae any reasonable accrual mtlthod for
calculating interest.
POST MATURITY RATE: for purposes
deciding when the ~Po.st
Me.turlty Rate~ 1shown on pa{ll'l 1 J npplies. the term "maturity- means the
dine of the last sch.,duled pllyrrnmt indicated on p<1g11 1 of thh, nole 01
the dale you accelerate payme:nt on the note, whlchev,:,r i11 aeflier.
SINGLE! ADVANCE l.OANS: lf thls is a single advance loan, you and r
expeet that you will make ot1ly one advance of principal. Howev•H, you
l'rll'IY add other em(lunt$ to tho PlinclpaJ if you make any peYmants
doscrlbed In the "PAYMENTS BY LENDER" paragraph below
MUL TJPLE ADVANCE LOANS: It this i11"' mul1iple advancu IQan, yoi; and I
axpet1t that YQI! will moko: morti tho.n one advance of principal. If this is
cloaad end crnd1t, repaying e part or thl! principal will not entitle me to
additionfll credit.
PAYMENTS PY L.ENDeR: 11 y1;11,1 1id prlnci1p<1I unr;ler this nptr., or you may dl!lm1.rnd
immodiatc payment of the charge:..
SET•OFF: I aQ1ee that you may set oft any amount due und payabl~ undilr
thi~ note against any right·! have to recc,tv« n\On,:oy frorn you,
~A,ght to receive money from you" muans:
11) any deposit account balance I have With you;
f.2) any money owed to .me on er, nwn prasentod to you or in vour
po11session fen collect1on or sxchang&; and
13) any repurchase Agreement or otht'I ncmdeposit ot,llgat,on.
"Any amount due and payable under this note~ mean~ 1he total
flmount ol which you arr. entitled to demand payrnnn1 under th!\' tetmli ot
this nota al the time you set cff. This total includes anv balance the due
d~te fo1 w.hir;h you propar/y ac:cel.,rute unde1 thrn note-.
If my nglH to nicelva mon11y lrom you is also ownad by :o:.omeo11e who
hi'ls not a:grc,ad to pay this note, your riaht of set-off will applv I,;, mY
mlarest in the otihoation and to any other arnounts r could withdraw on
my AOI~ requ,e!lt or o11ndon1ament. Yo1.1r n~tit of :iiat-otf doll':. 1101 apply 10
an account or other obligntion Whf.lre my right:; are only as 1:1
represfmtative. It also do'i'S not appl',· to nny lnd1v1dual Ra\1r,i;ment
Account or othl!!r tax-deferred retirerru,nt ar.cmmt.
You will not be liable for the. dishonor of any check whe" the dr~honor
vccurn bt\!cause you set off thi:, debt ag,i11run any of my aocflunu. I agreo
to hold ymi h,.rmloz;s frorri anv sU<;:h cl11ims ari111ng as a msu11 of your
"'"err::ase of yoUI right of st1t-otf.
l)A-,-,;(JJ,
1"flAN(l ... CT10N
1
0
5
1
prohibited bV !awl. lo th-! e,oem permi[tf.ld by rl'>e United StaH,,;
Brmka,ptcy Code, t "J:.o t1gr1u: to p11y the reaso11abli, 11tto11--,ey' /l foe,; imd
costs ,•ou incur to c.;o!tect this debt as aw,uded bv any coull mceu,1:,,n9
jurit;diction under the Bankruptcy Codfl
WAIVER: I giva up my righ1r1 to roquue you to do ce11,un 1h,ngs. t w,11 i:u·
1equ1re vou to:
(1) dem:md payment of omounts du,: tpr~sentmf!ntJ;
121 obtain otric1~! certlfic:ntton ol oonp1:1yrnen1 (ptotestl. or
!3) give r,otic., thar amounts due have not bettn puid (nnllcc> elf
dii!ihor101).
I waive any delen~es I havti b1n1ed "'r :su" ,,-,.,.
alone. 01 anyone else who If. c.bhgated
th1:. not.,. <1• ar,, numh~f cf u,:
together. 10 coltact th,!< notto. You m11,· do "" without <1t1\· ntH1r.e tt»,f "
ha::s nor been paid lt1<>t1cr, ol d,,.honor), You may wnhc:,ut not1c" ·reh,;,s,;,
any party to this agrer.rn..,nt without reh!M•ing anv othm P"•h· ll ,·ou "'"''·
op .. nv ol your 1igh1s, with m without notice, 11 w,U no, alhtct •Y,\ dot,' to
p.-,.y th1;1 note. Anv ex:1en~1on of new credit to AJ\v of ":;· or ,.,.,.,,,..,."f ol
this note by ;ill or less 1h,m all (If u:. will n(lt reiO:, d,nv H)
pav it. /01 cour-,1,;, you art enmled to only one p-1>ymon1 lfl fuU.l I Ml"''·'
th&I you mi'IV ar your opuon extend lh,s notti Qf The dcht represent«c1 I)\
tilts note, •>I an,· portm,, of th,;, n t1m1t: w1th<,,11
hmtt o, not101:> and for 11nv term withouc alle.::ung ,ny J1ab,tlty tor paymf>nt
of th1e note. J will not a~s1gr, mv obligation und1:11 th,:; at:1tf>«ment wnhn1,1
your prio1 wri1t0Jn approv;ll.
FINAN.CIAL INFORMATION: I ,OU. uL>ton rO':Oq•wll\. h raquired ti, lllw. an'i nonce ro me sl>ull b"
g111en by del,ve,mg it orb\ mailing II b\ lus\ ,:;l,.,i,:; mad -,,;IQ1«~·rnri 1r, ri1'>"
at my Je:it known t1ckire:;s. Mv (:urrent e,ddrt1ss is on P_"O'' 1 l "01"" 1~,
ll)form you ,n wutlnu ol mn· ch10ngt1 ,n ffi'r' i.d,ire"'""· I will g,v" .. n, 11011(.1:
to yOu by mnlling, ii f,r~t <'.ltl.'l8 tn vour add,cs!. 0$t
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