Preview
Law Division Motion Section Initial Case Management Dates for CALENDARS (A,B,C,D,E,F,H,R,X,Z) will be heard In Person.
All other Law Division Initial Case Management Dates will be heard via Zoom
For more information and Zoom Meeting IDs go to https.//www.cookcountycourt,org/HOME?Zoom-Links?Agg4906_SelectTab/12
Court Date: 4/30/2024 9:15 AM FILED
2/28/2024 4:40 PM
N&L No. 2523-1 IRIS Y. MARTINEZ
CIRCUIT CLERK
IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS COOK COUNTY, IL
FILED DATE: 2/28/2024 4:40 PM 2024L002206
2024L002206
COUNTY DEPARTMENT – LAW DIVISION Calendar, N
26607289
BEVERLY BANK & TRUST COMPANY
N.A., a Wintrust Community Bank,
Case No.
Plaintiff,
-vs-
BOURDEAU GRIFFIN INTERIORS AND
ARCHITECTURAL SUPPLIES, INC., and
FRANTZIE GRIFFIN,
Defendants.
COMPLAINT FOR BREACH OF CONTRACT
Plaintiff, BEVERLY BANK & TRUST COMPANY N.A., a Wintrust Community Bank,
(hereinafter “Beverly Bank”) by and through its attorneys, Noonan & Lieberman, Ltd., as and for
its complaint against Defendants, BOURDEAU GRIFFIN INTERIORS AND
ARCHITECTURAL SUPPLIES, INC. and FRANTZIE GRIFFIN, states and alleges as follows:
1. Beverly Bank is, and was at all relevant times herein, a national banking
institution duly licensed and authorized to transact business in the State of Illinois.
2. Defendant BOURDEAU GRIFFIN INTERIORS AND ARCHITECTURAL
SUPPLIES, INC. (hereinafter “BGIAS, Inc.”), upon information and belief, is an Illinois
corporation conducting business in the State of Illinois, with its principal place of business
located in Cook County, Illinois.
3. Defendant FRANTZIE GRIFFIN (hereinafter, “Griffin”), upon information and
belief, is a citizen of the State of Illinois who resides in Cook County, Illinois.
4. Jurisdiction is proper in the State of Illinois pursuant to 735 ILCS 5/2-209, as (a)
BGIAS, Inc. transacts business in the State of Illinois; (b) Griffin resides in the State of Illinois;
and (c) the acts and transgressions that give rise to the captioned lawsuit occurred substantially in
the State of Illinois.
FILED DATE: 2/28/2024 4:40 PM 2024L002206
5. Venue is proper in Cook County, Illinois pursuant to 735 ILCS 5/2-101, as: (a)
BGIAS, Inc.’s principal place of business is located in Cook County, Illinois; (b) Griffin resides
in Cook County, Illinois; and (c) the acts and transgressions that give rise to the captioned
lawsuit occurred substantially in Cook County, Illinois.
6. On September 28, 2022, Beverly Bank made a line of credit loan to BGIAS, Inc.
of the principal amount not to exceed $200,000.00 (“Loan”).
7. As evidence of the Loan and Safeway’s promise to repay the borrowed funds plus
interest, BGIAS, Inc. executed and delivered to Beverly Bank a Business Revolving Line of
Credit Agreement in the original principal amount of $200,000.00, dated September 28, 2023
(“Loan Agreement”). A true and correct copy of the Loan Agreement is attached hereto as
Exhibits “A”.
8. To secure the Loan Agreement, BGIAS, Inc. supplied an “Easy Access Business
Loan Application” in which Griffin guaranteed the obligations of BGIAS, Inc. (“Guaranty”). A
true and correct copy of the Guaranty is attached hereto as Exhibit “B”.
9. Beverly Bank disbursed the Loan in accordance with BGIAS, Inc.’s request.
10. BGIAS, Inc. and Griffin (collectively, “Obligors”) failed to make the full maturity
payment due to Beverly Bank on September 28, 2023.
11. On January 26, 2024, as a result of Obligors’ failure to make the full payment,
Beverly Bank caused issuance of a notice of default and demand for payment (“Default Notice”),
under which Beverly Bank declared the Loan Agreement to be in default and demanded that
2
Obligors cure the same. A true and correct copy of the Default Notice is attached hereto as
Exhibit “C”.
FILED DATE: 2/28/2024 4:40 PM 2024L002206
12. Notwithstanding Beverly Bank’s Default Notice, Obligors failed to cure the
default and repay the amount due and owing.
13. The Loan Agreement provides that Beverly Bank is entitled to recover from
BGIAS, Inc., the attorney fees and collection costs incurred in enforcing the Note.
14. The Guaranty provides that Beverly Bank is entitled to recover from Griffin the
attorney fees and collection costs incurred in enforcing the Loan Agreement and Guaranty.
15. Due to Obligors’ failure to perform as agreed under the Loan Agreement and
Guaranty, Beverly Bank was damaged in the amount equal to the unpaid balance due under the
Loan Agreement, plus interest, attorney fees, protective advances, and costs.
16. As of January 23, 2024, the balance due to Beverly Bank under the Loan
Agreement was $204,926.46 (including $196,972.97 in principal, $7,735.65 in interest and
$217.84 in late charges and fees) plus additional interest thereafter, any protective advances,
attorney fees, and collection costs.
COUNT I - BREACH OF THE LOAN AGREEMENT AGAINST
BOURDEAU GRIFFIN INTERIORS AND ARCHITECTURAL SUPPLIES, INC.
17. Beverly Bank re-alleges paragraphs 1 through 16 as though fully set forth herein.
18. The Loan Agreement is a binding and enforeable agreement or negotiable
instrument between Beverly Bank and BGIAS, Inc.
19. Beverly Bank performed all of its obligations under the Loan Agreement.
20. BGIAS, Inc. defaulted under the Loan Agreement by failing to make payments as
agreed.
21. BGIAS, Inc.’s default under the Loan Agreement is a material breach thereof.
3
22. Due to BGIAS, Inc.’s breach of the Loan Agreement, Beverly Bank was damaged
in the amount equal to the principal balance due under the Note, plus interest, late fees,
FILED DATE: 2/28/2024 4:40 PM 2024L002206
protective advances, attorney fees, and collection costs.
WHEREFORE, Beverly Bank respectfully requests the Court to: (a) enter a money
judgment in favor of Beverly Bank and against Safeway in an amount to be established through
evidence acceptable to this Court; (b) award it any and all additional expenses incurred in this
cause including, but not limited to, collection costs and reasonable attorney fees; and (c) award it
such further relief as is appropriate and just.
COUNT II - BREACH OF GUARANTY AGAINST FRANTZIE GRIFFIN
23. Beverly Bank re-alleges Paragraphs 1 through 22 as though fully set forth herein.
24. The Guaranty is binding and enforeable agreement between Beverly Bank and
Griffin.
25. Beverly Bank performed all of its obligations under the Note, Guaranty, and
related Loan.
26. Griffin defaulted under the Guaranty by failing to make Loan payments as agreed.
27. Griffin’s default under the Guaranty is a material breach thereof.
28. Due to Griffin’s breach of the Guaranty, Beverly Bank was damaged in the
amount equal to the principal balance due under the Note, plus interest, late fees, protective
advances, attorney fees, and collection costs.
WHEREFORE, Beverly Bank respectfully requests the Court to: (a) enter a money
judgment in favor of Beverly Bank and against Griffin in an amount to be established through
evidence acceptable to this Court; (b) award it any and all additional expenses incurred in this
4
cause including, but not limited to, collection costs and reasonable attorney fees; and (c) award it
such further relief as is appropriate and just.
FILED DATE: 2/28/2024 4:40 PM 2024L002206
WHEREFORE, Plaintiff, BEVERLY BANK & TRUST COMPANY N.A., a Wintrust
Community Bank, seeks judgment against Defendants, BOURDEAU GRIFFIN INTERIORS
AND ARCHITECTURAL SUPPLIES, INC. and FRANTZIE GRIFFIN, jointly and severally, in
the amount of $204,926.46 in principal, interest and late charges, plus additional interest
thereafter, any protective advances, attorney fees, collection costs, and for any further relief as
the Court deems just.
Respectfully submitted:
BEVERLY BANK & TRUST COMPANY N.A.,
A Wintrust Community Bank,
By one of its attorneys
Brendan McClelland
Noonan & Lieberman, Ltd.
33 N. LaSalle Street, Suite 1150
Chicago, IL 60602
Phone: (312) 431-1455
intake@noonanandlieberman.com
Firm ID: 38245
5
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EXHIBIT "A"
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EXHIBIT "B"
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LAW OFFICES
noonan & Lieberman, Ltd.
FILED DATE: 2/28/2024 4:40 PM 2024L002206
33 North LaSalle Street, Suite 1150
Chicago, Illinois 60602
312-431-1455
Fax 312-431-1456
January 26, 2024
Bourdeau-Griffin Interiors and Architectural Supplies, Inc.
Attention Frantzie Griffin,
President and Registered Agent EXHIBIT "C"
8233 S. Princeton Ave.
Chicago, Illinois 60620
Frantzie Griffin
215 W. Washinton St., 4901
Chicago, Illinois 60606
Sent via regular first-class USPS mail and Federal Express.
Credit Transaction: Business Revolving Line of Credit Account
Principal Amount: $200,000.00
Lender: Beverly Bank and Trust Company
Account No.: xxxxx1703-1
Our File No.: 2523-1
Dear Frantzie Griffin,
Please know that our firm represents Beverly Bank & Trust Company (“Lender”), which
has asked that we contact you in connection with the above referenced business revolving line of
credit loan (“Loan”) by and between Bourdeau-Griffin Interiors and Architectural Supplies, Inc.,
an Illinois Corporation (“Borrower”), and Lender. The Loan is evidenced by that certain Easy
Access Business Loan Application, dated August 10, 2022, executed by Borrower in favor of
Lender, in the original principal amount of Two Hundred Thousand and 00/100 U.S. Dollars
($200,000.00) (“Note”).
The Loan is secured pursuant to that certain Business Revolving Line of Credit
Agreement (“Security Agreement”), from Borrower in favor of Lender, wherein it was granted a
security interest in Borrower’s cash, deposits, investment property, and all other property of the
Borrower of any kind and description, now or at any time hereafter transferred or delivered to or
left in or coming into the possession, control or custody of Lender or its affiliates, by or for the
account of the Borrower along with all assets and “Additional Security” of the Borrower’s
business as described in Section twenty-seven (27) of the Security Agreement (collectively,
“Collateral”). The Loan is also secured by that certain guaranty from you, Frantzie Griffin
Page 1 of 2 2523-1
personally, in favor of Lender (“Guaranty”). The Note, Security Agreement and Guaranty are
hereinafter collectively referred to as the “Loan Documents”.
FILED DATE: 2/28/2024 4:40 PM 2024L002206
Lender has asked that this office contact you in connection with Borrower’s ongoing
default on the Loan for failure to make timely payments. The Loan has now matured and is now
past due since September 28, 2023. As of January 23, 2024, the balance now due and owing is
$204,926.46 (consisting of principal balance of $196,972.97, interest of $7,735.65, late charges
of $167.84 and annual fee of $50.00). This letter is sent as a courtesy to allow you the
opportunity to pay off the Loan by satisfying same within the next fifteen (15) days hereafter,
February 10, 2024. Accordingly, Lender hereby requires that you immediately contact this office
to make arrangements regarding same.
To the extent that the Loan is not satisfied or another arrangement acceptable to Lender is
not reached by February 10, 2024, Lender has instructed our firm to file a lawsuit for breach of
the Note and Guaranty. Further, the Lender may pursue any other remedy available to it
pursuant to the Loan Documents, including the right of set-off. Pursuant to the terms of the Loan
Documents, Borrower and you, personally, shall be responsible for any fees and costs associated
with such litigation.
Neither this letter nor any action, delay, or inaction by Lender, whether referenced above,
occurring hereafter, or otherwise, shall be construed to: (i) constitute an extension, modification,
or waiver of any aspect of any of the Loan Documents or any default, right or remedy
thereunder; (ii) extend the terms of any of the Loan Documents or any due date or maturity
thereunder; (iii) establish a course of dealing between Lender and Borrower or Lender and you
or give rise to any obligation on the part of Lender to extend, modify, forbear or waive any term
or condition of any of the Loan Documents; (iv) give rise to any defenses or counterclaims to
Lender’s right to compel payment or to otherwise enforce its rights and remedies under any of
the Loan Documents; or (v) limit, diminish, or otherwise alter any right of Lender to demand
strict compliance and performance with any provision of any of the Loan Documents.
Please be further advised that no oral communication from or on behalf of Lender shall
constitute any agreement, commitment or evidence of any assurance or intention of Lender with
respect to any aspect of the Loan or the exercise of any rights or remedies in connection
therewith. Any such agreement, commitment, assurance or intention of Lender shall only be
effective if in writing and duly executed on behalf of Lender.
Please contact me if you wish to discuss the matters raised herein at either by phone (312-
605-3446), mail (33 N. LaSalle St., Suite 1150, Chicago, Illinois 60602) or e-mail
(buzz.mcclelland@noonanandlieberman.com). We otherwise trust you will guide yourself
accordingly.
Sincerely,
Brendan McClelland
Noonan & Lieberman, Ltd.
Page 2 of 2 2523-1
Preview
Law Division Motion Section Initial Case Management Dates for CALENDARS (A,B,C,D,E,F,H,R,X,Z) will be heard In Person. All other Law Division Initial Case Management Dates will be heard via Zoom For more information and Zoom Meeting IDs go to https.//www.cookcountycourt,org/HOME?Zoom-Links?Agg4906_SelectTab/12 Court Date: 4/30/2024 9:15 AM FILED 2/28/2024 4:40 PM N&L No. 2523-1 IRIS Y. MARTINEZ CIRCUIT CLERK IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS COOK COUNTY, IL FILED DATE: 2/28/2024 4:40 PM 2024L002206 2024L002206 COUNTY DEPARTMENT – LAW DIVISION Calendar, N 26607289 BEVERLY BANK & TRUST COMPANY N.A., a Wintrust Community Bank, Case No. Plaintiff, -vs- BOURDEAU GRIFFIN INTERIORS AND ARCHITECTURAL SUPPLIES, INC., and FRANTZIE GRIFFIN, Defendants. COMPLAINT FOR BREACH OF CONTRACT Plaintiff, BEVERLY BANK & TRUST COMPANY N.A., a Wintrust Community Bank, (hereinafter “Beverly Bank”) by and through its attorneys, Noonan & Lieberman, Ltd., as and for its complaint against Defendants, BOURDEAU GRIFFIN INTERIORS AND ARCHITECTURAL SUPPLIES, INC. and FRANTZIE GRIFFIN, states and alleges as follows: 1. Beverly Bank is, and was at all relevant times herein, a national banking institution duly licensed and authorized to transact business in the State of Illinois. 2. Defendant BOURDEAU GRIFFIN INTERIORS AND ARCHITECTURAL SUPPLIES, INC. (hereinafter “BGIAS, Inc.”), upon information and belief, is an Illinois corporation conducting business in the State of Illinois, with its principal place of business located in Cook County, Illinois. 3. Defendant FRANTZIE GRIFFIN (hereinafter, “Griffin”), upon information and belief, is a citizen of the State of Illinois who resides in Cook County, Illinois. 4. Jurisdiction is proper in the State of Illinois pursuant to 735 ILCS 5/2-209, as (a) BGIAS, Inc. transacts business in the State of Illinois; (b) Griffin resides in the State of Illinois; and (c) the acts and transgressions that give rise to the captioned lawsuit occurred substantially in the State of Illinois. FILED DATE: 2/28/2024 4:40 PM 2024L002206 5. Venue is proper in Cook County, Illinois pursuant to 735 ILCS 5/2-101, as: (a) BGIAS, Inc.’s principal place of business is located in Cook County, Illinois; (b) Griffin resides in Cook County, Illinois; and (c) the acts and transgressions that give rise to the captioned lawsuit occurred substantially in Cook County, Illinois. 6. On September 28, 2022, Beverly Bank made a line of credit loan to BGIAS, Inc. of the principal amount not to exceed $200,000.00 (“Loan”). 7. As evidence of the Loan and Safeway’s promise to repay the borrowed funds plus interest, BGIAS, Inc. executed and delivered to Beverly Bank a Business Revolving Line of Credit Agreement in the original principal amount of $200,000.00, dated September 28, 2023 (“Loan Agreement”). A true and correct copy of the Loan Agreement is attached hereto as Exhibits “A”. 8. To secure the Loan Agreement, BGIAS, Inc. supplied an “Easy Access Business Loan Application” in which Griffin guaranteed the obligations of BGIAS, Inc. (“Guaranty”). A true and correct copy of the Guaranty is attached hereto as Exhibit “B”. 9. Beverly Bank disbursed the Loan in accordance with BGIAS, Inc.’s request. 10. BGIAS, Inc. and Griffin (collectively, “Obligors”) failed to make the full maturity payment due to Beverly Bank on September 28, 2023. 11. On January 26, 2024, as a result of Obligors’ failure to make the full payment, Beverly Bank caused issuance of a notice of default and demand for payment (“Default Notice”), under which Beverly Bank declared the Loan Agreement to be in default and demanded that 2 Obligors cure the same. A true and correct copy of the Default Notice is attached hereto as Exhibit “C”. FILED DATE: 2/28/2024 4:40 PM 2024L002206 12. Notwithstanding Beverly Bank’s Default Notice, Obligors failed to cure the default and repay the amount due and owing. 13. The Loan Agreement provides that Beverly Bank is entitled to recover from BGIAS, Inc., the attorney fees and collection costs incurred in enforcing the Note. 14. The Guaranty provides that Beverly Bank is entitled to recover from Griffin the attorney fees and collection costs incurred in enforcing the Loan Agreement and Guaranty. 15. Due to Obligors’ failure to perform as agreed under the Loan Agreement and Guaranty, Beverly Bank was damaged in the amount equal to the unpaid balance due under the Loan Agreement, plus interest, attorney fees, protective advances, and costs. 16. As of January 23, 2024, the balance due to Beverly Bank under the Loan Agreement was $204,926.46 (including $196,972.97 in principal, $7,735.65 in interest and $217.84 in late charges and fees) plus additional interest thereafter, any protective advances, attorney fees, and collection costs. COUNT I - BREACH OF THE LOAN AGREEMENT AGAINST BOURDEAU GRIFFIN INTERIORS AND ARCHITECTURAL SUPPLIES, INC. 17. Beverly Bank re-alleges paragraphs 1 through 16 as though fully set forth herein. 18. The Loan Agreement is a binding and enforeable agreement or negotiable instrument between Beverly Bank and BGIAS, Inc. 19. Beverly Bank performed all of its obligations under the Loan Agreement. 20. BGIAS, Inc. defaulted under the Loan Agreement by failing to make payments as agreed. 21. BGIAS, Inc.’s default under the Loan Agreement is a material breach thereof. 3 22. Due to BGIAS, Inc.’s breach of the Loan Agreement, Beverly Bank was damaged in the amount equal to the principal balance due under the Note, plus interest, late fees, FILED DATE: 2/28/2024 4:40 PM 2024L002206 protective advances, attorney fees, and collection costs. WHEREFORE, Beverly Bank respectfully requests the Court to: (a) enter a money judgment in favor of Beverly Bank and against Safeway in an amount to be established through evidence acceptable to this Court; (b) award it any and all additional expenses incurred in this cause including, but not limited to, collection costs and reasonable attorney fees; and (c) award it such further relief as is appropriate and just. COUNT II - BREACH OF GUARANTY AGAINST FRANTZIE GRIFFIN 23. Beverly Bank re-alleges Paragraphs 1 through 22 as though fully set forth herein. 24. The Guaranty is binding and enforeable agreement between Beverly Bank and Griffin. 25. Beverly Bank performed all of its obligations under the Note, Guaranty, and related Loan. 26. Griffin defaulted under the Guaranty by failing to make Loan payments as agreed. 27. Griffin’s default under the Guaranty is a material breach thereof. 28. Due to Griffin’s breach of the Guaranty, Beverly Bank was damaged in the amount equal to the principal balance due under the Note, plus interest, late fees, protective advances, attorney fees, and collection costs. WHEREFORE, Beverly Bank respectfully requests the Court to: (a) enter a money judgment in favor of Beverly Bank and against Griffin in an amount to be established through evidence acceptable to this Court; (b) award it any and all additional expenses incurred in this 4 cause including, but not limited to, collection costs and reasonable attorney fees; and (c) award it such further relief as is appropriate and just. FILED DATE: 2/28/2024 4:40 PM 2024L002206 WHEREFORE, Plaintiff, BEVERLY BANK & TRUST COMPANY N.A., a Wintrust Community Bank, seeks judgment against Defendants, BOURDEAU GRIFFIN INTERIORS AND ARCHITECTURAL SUPPLIES, INC. and FRANTZIE GRIFFIN, jointly and severally, in the amount of $204,926.46 in principal, interest and late charges, plus additional interest thereafter, any protective advances, attorney fees, collection costs, and for any further relief as the Court deems just. Respectfully submitted: BEVERLY BANK & TRUST COMPANY N.A., A Wintrust Community Bank, By one of its attorneys Brendan McClelland Noonan & Lieberman, Ltd. 33 N. LaSalle Street, Suite 1150 Chicago, IL 60602 Phone: (312) 431-1455 intake@noonanandlieberman.com Firm ID: 38245 5 FILED DATE: 2/28/2024 4:40 PM 2024L002206 EXHIBIT "A" FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 EXHIBIT "B" FILED DATE: 2/28/2024 4:40 PM 2024L002206 FILED DATE: 2/28/2024 4:40 PM 2024L002206 LAW OFFICES noonan & Lieberman, Ltd. FILED DATE: 2/28/2024 4:40 PM 2024L002206 33 North LaSalle Street, Suite 1150 Chicago, Illinois 60602 312-431-1455 Fax 312-431-1456 January 26, 2024 Bourdeau-Griffin Interiors and Architectural Supplies, Inc. Attention Frantzie Griffin, President and Registered Agent EXHIBIT "C" 8233 S. Princeton Ave. Chicago, Illinois 60620 Frantzie Griffin 215 W. Washinton St., 4901 Chicago, Illinois 60606 Sent via regular first-class USPS mail and Federal Express. Credit Transaction: Business Revolving Line of Credit Account Principal Amount: $200,000.00 Lender: Beverly Bank and Trust Company Account No.: xxxxx1703-1 Our File No.: 2523-1 Dear Frantzie Griffin, Please know that our firm represents Beverly Bank & Trust Company (“Lender”), which has asked that we contact you in connection with the above referenced business revolving line of credit loan (“Loan”) by and between Bourdeau-Griffin Interiors and Architectural Supplies, Inc., an Illinois Corporation (“Borrower”), and Lender. The Loan is evidenced by that certain Easy Access Business Loan Application, dated August 10, 2022, executed by Borrower in favor of Lender, in the original principal amount of Two Hundred Thousand and 00/100 U.S. Dollars ($200,000.00) (“Note”). The Loan is secured pursuant to that certain Business Revolving Line of Credit Agreement (“Security Agreement”), from Borrower in favor of Lender, wherein it was granted a security interest in Borrower’s cash, deposits, investment property, and all other property of the Borrower of any kind and description, now or at any time hereafter transferred or delivered to or left in or coming into the possession, control or custody of Lender or its affiliates, by or for the account of the Borrower along with all assets and “Additional Security” of the Borrower’s business as described in Section twenty-seven (27) of the Security Agreement (collectively, “Collateral”). The Loan is also secured by that certain guaranty from you, Frantzie Griffin Page 1 of 2 2523-1 personally, in favor of Lender (“Guaranty”). The Note, Security Agreement and Guaranty are hereinafter collectively referred to as the “Loan Documents”. FILED DATE: 2/28/2024 4:40 PM 2024L002206 Lender has asked that this office contact you in connection with Borrower’s ongoing default on the Loan for failure to make timely payments. The Loan has now matured and is now past due since September 28, 2023. As of January 23, 2024, the balance now due and owing is $204,926.46 (consisting of principal balance of $196,972.97, interest of $7,735.65, late charges of $167.84 and annual fee of $50.00). This letter is sent as a courtesy to allow you the opportunity to pay off the Loan by satisfying same within the next fifteen (15) days hereafter, February 10, 2024. Accordingly, Lender hereby requires that you immediately contact this office to make arrangements regarding same. To the extent that the Loan is not satisfied or another arrangement acceptable to Lender is not reached by February 10, 2024, Lender has instructed our firm to file a lawsuit for breach of the Note and Guaranty. Further, the Lender may pursue any other remedy available to it pursuant to the Loan Documents, including the right of set-off. Pursuant to the terms of the Loan Documents, Borrower and you, personally, shall be responsible for any fees and costs associated with such litigation. Neither this letter nor any action, delay, or inaction by Lender, whether referenced above, occurring hereafter, or otherwise, shall be construed to: (i) constitute an extension, modification, or waiver of any aspect of any of the Loan Documents or any default, right or remedy thereunder; (ii) extend the terms of any of the Loan Documents or any due date or maturity thereunder; (iii) establish a course of dealing between Lender and Borrower or Lender and you or give rise to any obligation on the part of Lender to extend, modify, forbear or waive any term or condition of any of the Loan Documents; (iv) give rise to any defenses or counterclaims to Lender’s right to compel payment or to otherwise enforce its rights and remedies under any of the Loan Documents; or (v) limit, diminish, or otherwise alter any right of Lender to demand strict compliance and performance with any provision of any of the Loan Documents. Please be further advised that no oral communication from or on behalf of Lender shall constitute any agreement, commitment or evidence of any assurance or intention of Lender with respect to any aspect of the Loan or the exercise of any rights or remedies in connection therewith. Any such agreement, commitment, assurance or intention of Lender shall only be effective if in writing and duly executed on behalf of Lender. Please contact me if you wish to discuss the matters raised herein at either by phone (312- 605-3446), mail (33 N. LaSalle St., Suite 1150, Chicago, Illinois 60602) or e-mail (buzz.mcclelland@noonanandlieberman.com). We otherwise trust you will guide yourself accordingly. Sincerely, Brendan McClelland Noonan & Lieberman, Ltd. Page 2 of 2 2523-1