Preview
Hearing Date: 8/5/2024 1:30 PM
FILED
Location: Court Room 2806
Judge: Cocozza, Margaret Jean
6/4/2024 1:55 PM
IRIS Y. MARTINEZ
CIRCUIT CLERK
COOK COUNTY, IL
IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS 2024CH05262
COUNTY DEPARTMENT - CHANCERY DIVISION Calendar, 58
27966184
FREEDOM MORTGAGE CORPORATION
2024CH05262
PLAINTIFF, CASE NO.:
Vv. JUDGE:
KENDALE K. BRICE; JOSUE BERNARDO PROPERTY ADDRESS:
ALARCON SERRANO; UNKNOWN 7125 SOUTH MICHIGAN AVENUE
OWNERS AND NON-RECORD CHICAGO, IL 60619
CLAIMANTS;
DEFENDANTS.
COMPLAINT TO FORECLOSE MORTGAGE
For its Complaint Plaintiff says:
1 Plaintiff, FREEDOM MORTGAGE CORPORATION, files this Complaint to foreclose
the mortgage, trust deed or other conveyance in the nature of a mortgage ("Mortgage”)
hereinafter described, pursuant to 735 ILCS 5/15-1101 et. seq. of the Illinois Code of
Civil Procedure, and joins the persons named in the caption as Defendants:
KENDALE K. BRICE; JOSUE BERNARDO ALARCON SERRANO; UNKNOWN
OWNERS AND NON-RECORD CLAIMANTS
Attached as "Exhibit A" is a true copy of the Mortgage which has been modified to redact
certain Non-Public Personal Information (“PI”) from the exhibit. Attached as "Exhibit B"
is a true copy of the Note secured thereby which has been modified to redact certain PI
from the exhibit. Attached as “Exhibit C” is a true copy of the Assignment(s) which has
been modified to redact certain PI from the exhibit.
3 Information concerning said Mortgage:
(a) Nature of the instrument: Mortgage.
(b) Date of Mortgage: 5/14/2021
(c) Name of the mortgagors: KENDALE K. BRICE AND JOSUE BERNARDO
ALARCON SERRANO
(d) Name of the mortgagee: MORTGAGE ELECTRONIC REGISTRATION
SYSTEMS, INC., AS MORTGAGEE, AS NOMINEE FOR FINANCE OF
AMERICA MORTGAGE LLC
(e) Date of Recording and place of recording: 6/7/2021 in the Cook County Recorder
of Deeds Office
(f) Identification of Recording: Document No. 2115807324
(g) Interest Subject to the mortgage: Fee Simple
(h) Amount of Original Indebtedness, including subsequent advances made under the
mortgage: $234,671.00
(i) Legal description of mortgaged real estate:
LOT 39 AND NORTH 1/3 OF LOT 38 IN BLOCK 1 IN D.B. SCULLY'S
SUBDIVISION OF THE NORTHWEST 1/4 OF SECTION 27, TOWNSHIP 38
NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN
COOK COUNTY, ILLINOIS.
COMMON ADDRESS:
7125 SOUTH MICHIGAN AVENUE
CHICAGO, IL 60619
Tax ID# 20-27-102-009-0000
@ Statement as to Defaults:
After all payments received have been applied, mortgagors are now in default for
the monthly payments of principal and interest; and taxes, advances and
insurance, if any, for December 01, 2023 through the present; the principal and
balance due on the note and mortgage is $221,027.47, plus interest, costs and fees,
and advances if any, made by the plaintiff. Interest accrues pursuant to the terms
of the note. The current per diem is $16.65.
(k) Name of present owner(s) of the real estate:
KENDALE K. BRICE
(1) Names of other persons who are joined as defendants and whose interest in or lien
on the mortgaged real estate is sought to be terminated
None
Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois
:ookcountyclerkofcourt.org
(m) Names of defendants claimed to be personally liable for deficiency unless
personal liability is discharged in a Bankruptcy proceeding, or otherwise released
KENDALE K. BRICE
(n) Capacity in which plaintiff brings this foreclosure:
Plaintiff is the legal holder of the indebtedness secured by the mortgage
being foreclosed herein.
(0) Facts in support of a request for attorneys’ fees and of costs and expenses, if
applicable:
The subject mortgage provides for the recovery of attorney fees, court costs, and
expenses in the event of a default under the terms of the mortgage.
4. Plaintiff alleges that in addition to persons designated by name herein and the Unknown
Defendants referred to above, there are other persons, and/or non-record claimants who
are interested in this action and who have or claim some right, title, interest or lien in, to
or upon the real estate, or some part thereof, in this Complaint described, including but
not limited to the following Unknown Owners and Non-Record Claimants.
That the name of each of such persons is unknown to the Plaintiff and on diligent inquiry
cannot be ascertained, and all such persons are therefore made party defendants to this
action by the name and description of UNKNOWN OWNERS and NON-RECORD
CLAIMANTS.
That should a deficiency result from the foreclosure sale of the subject property, Plaintiff
may seek an In Personam or an In Rem deficiency judgment unless the defendant(s)
which are liable on the subject mortgage note have had personal liability on said note
discharged in a Bankruptcy proceeding or ifsaid liability has been otherwise discharged
or released.
That should the subject property be vacant, the Plaintiff may seek to have the Court find
that the property is abandoned pursuant to 735 ILCS 5/15-1603, Illinois Code of Civil
Procedure.
That the Plaintiff may seek appointment of Mortgagee in Possession or appointment of
receiver.
WHEREFORE, PLAINTIFF REQUESTS:
1 A Judgment of Foreclosure and Sale.
Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois
:ookcountyclerkofcourt.org
A Judgment for attorney's fees, costs and expenses.
An Order Approving the Foreclosure Sale and an Order granting possession.
An In Personam or an In Rem Deficiency Judgment, if sought, unless
defendant(s) have had personal liability on the subject mortgage note
discharged in a Bankruptcy proceeding, or otherwise released.
An order granting a shortened redemption period, if sought.
Appointment of Mortgagee in Possession or Receiver, if sought.
Such other and further reliefas the Court deems just.
FREEDOM MORTGAGE CORPORATION
By:_/s/Christopher Schott_
4/23/2024 | ARDC No. 6336722
Robertson Anschutz Schneid Crane & Partners, PLLC
Attorney for Plaintiff
205 N. Michigan Avenue Suite 810
Chicago, Illinois 60601
Phone: (561) 241-6901
E-mail: ILmail@raslg.com
Pursuant to IL Supreme Court Rule 11 electronic mail (e-mail) notice shall be sent to
ILmail@raslg.com.
THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFORMATION
OBTAINED WILL BE USED FOR THAT PURPOSE.
Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois
:ookcountyclerkofcourt.org
t
Exhibit A % Brice 1 Ken de
ae
. 2115807324 Fee: $98.00
Illinois Anti-Predatory , KarenA. Yarbrough
Cook County Clerk
Lending Database Date: 06/07/2021 09:45
AM Pg: 1 of12
Program Gna — Freedom
Certificate of Compliance a
XY
ae oF
Report Mortgage Fraud
844-768-1713
‘The property identified as: PIN: 20-27-102-009-0000
Address:
Street: 7125 SOUTH MICHIGAN AVENUE
Street line 2:
City: CHICAGO State: IL ZIP Code: 60619
Lender, Finance of America Mortgage LLC
Borrower: Kendale K Brice and Josue Bemardo Alarcon Serrano
Loan / Mortgage Amount: $234,671.00
Pursuant to 765 ILCS 77/70 et seq., this Certificate authorizes the County Recorder of Deeds to record a residential
mortgage secured by this property and, if applicable, a simultaneously dated HELOC.
Certificate number. £99807F2-31F3-4465-A729-BEBCCA679904 Execution date: 5/14/2021
After Recording Retum To:
FINANCE OF AMERICA MORTGAGE
LLC
ATTN: TPO CUSTOMER SUPPORT
300 WELSH ROAD, BUILDING 5,
SUITE A Sr ee
HORSHAM, PA 19044
Gu MP
(855) 801-8392
This Instrument Prepared By:
DAWN DITIZIO
FINANCE OF AMERICA MORTGAGE Oot
LLC
ORG
300 WELSH ROAD, BUILDING 5,
SUITE A
HORSHAM, PA 19044
(855) 801-8392
[Space Above This Line For Recording Dataj
MORTGAGE
BRICE
Loan #:|
PIN: 20-27-102-009-0000
MIN:I
MERS Phone: 1-888-679-6377
Case #:
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 10, 12, 17, 19
and 21. Certain rules regarding the usage of words used in this document are also provided in Section 15.
(A) "Security Instrument" means this document, which is dated MAY 14, 2021, together with all Riders to this document.
(B) "Borrower" is KENDALE K BRICE, MARRIED TO JOSUE BERNARDO ALARCON SERRANO. Borrower is the
mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a
nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is
organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI
48501-2026, tel. (888) 679-MERS.
(D) "Lender" is FINANCE OF AMERICA MORTGAGE LLC. Lender is a LLC organized and existing under the laws of
DELAWARE. Lender's address is 300 WELSH ROAD, BUILDING 5, SUITE A, HORSHAM, PA 19044.
(E) "Note" means the promissory note signed by Borrower and dated MAY 14, 2021. The Note states that Borrower owes
Lender TWO HUNDRED THIRTY-FOUR THOUSAND SIX HUNDRED SEVENTY-ONE AND 00/100 Dollars (U.S.
$234, 671.00) plus interest at the rate of 2.750%. Borrower has promised to pay this debt in regular Periodic Payments and
to pay the debt in full not later than JUNE 1, 2051.
(F) "Property" means the property that is described below under the heading “Transfer of Rights in the Property."
(G) "Loan" means the debt evidenced by the Note, plus interest, late charges due under the Note, and all sums due under this
Security Instrument, plus interest.
(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be
executed by Borrower [check box as applicable]:
OD Adjustable Rate Rider O Condominium Rider O Planned Unit Development Rider
DOther(s) [specify]
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(t) “Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and
administrative rules and orders {that have the effect of law) as well as all applicable final, non-appealable judicial opinions.
(J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are
imposed on Borrower or the Property by a condominium association, homeowners association or similar organization.
(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar
paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to
order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-
of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated
clearinghouse transfers.
(L) "Escrow Items" means those items that are described in Section 3.
(M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party
(other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the
Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv)
misrepresentations of, or omissions as to, the value and/or condition of the Property.
(N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan.
(O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any
amounts under Section 3 of this Security Instrument.
(P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation,
Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or successor legislation or
regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and
testrictions that are imposed in regard to a “federally related mortgage loan" even if the Loan does not qualify as a “federally
related mortgage loan” under RESPA.
(Q) "Sceretary" means the Secretary of the United States Department of Housing and Urban Development or his designee.
(R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has
assumed Borrower's obligations under the Note and/or this Security Instrument.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of
the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For
this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's
successors and assigns) and to the successors and assigns of MERS the following described property located in the COUNTY of
COOK:
LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF.
which currently has the address of 7125 SOUTH MICHIGAN AVENUE, CHICAGO, IL 60619 ("Property Address"):
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,
and fixtures now or hereafter a part of the property, All replacements and additions shall also be covered by this Security
Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees
that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply
with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of
those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of
Lender including, but not limited to, releasing and canceling this Security Instrument.
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to
mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower
warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of
record,
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with
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limited variations by jurisdiction to constitute a uniform security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
1, Payment of Principal, Interest, Escrow Items, and Late Charges. Borrower shall pay when due the principal of,
and interest on, the debt evidenced by the Note and late charges due under the Note. Borrower shall also pay funds for Escrow
Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency.
However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is
returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security
Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified
check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits
are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Payments are deemed received by Lender when received at the location designated in the Note or at such other
location as may be designated by Lender in accordance with the notice provisions in Section 14. Lender may return any
payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept
any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to
its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the
time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay
interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If
Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If
not applied carlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to
foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from
making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this
Security Instrument.
2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and
applied by Lender shall be applied in the following order of priority:
First, to the Mortgage Insurance premiums to be paid by Lender to the Secretary or the monthly charge by the
Secretary instead of the monthly mortgage insurance premiums;
Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard
insurance premiums, as required;
Third, to interest due under the Note;
Fourth, to amortization of the principal of the Note; and,
Fifth, to late charges due under the Note.
Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not
extend or postpone the due date, or change the amount of the Periodic Payments.
3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until
the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other
items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments
or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d)
Mortgage Insurance premiums to be paid by Lender to the Secretary or the monthly charge by the Secretary instead of the
monthly Mortgage Insurance premiums. These items are called "Escrow Items." At origination or at any time during the term
of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower,
and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts
to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's
obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for
any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay
directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by
Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender
may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a
covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement” is used in Section 9. If
Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an
Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under
Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a
FHA Illinois Mortgage - 09/15
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Es
notice given in accordance with Section 14 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such
amounts, that are then required under this Section 3.
Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the
time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall
estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items
or otherwise in accordance with Applicable Law
The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity
(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall
apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for
holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays
Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in
writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest
or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the
excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall
notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in
accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined
under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to
make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any
Funds held by Lender.
4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the
Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,
and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower
shall pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)
agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as
Borrower is performing such agreement: (b) contests the lien in good faith by, or defends against enforcement of the lien in,
legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are
pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to
Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien
which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days
of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in
this Section 4.
5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property
insured against loss by fire, hazards included within the term "extended coverage,” and any other hazards including, but not
limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts
(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding
sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower
subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require
Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and
tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each
time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall
also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with
the review of any flood zone determination resulting from an objection by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at
Lender's option and Borrower's expense, Lender is under no obligation to purchase any particular type or amount of coverage.
Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or
the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was
previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the
cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become
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additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the
date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to
disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as additional
loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly
give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not
otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage
clause and shall name Lender as mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of
loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,
whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,
Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to
ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly.
Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the
work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance
proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or
other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of
Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance
proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid
to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2.
If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related
matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a
claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event,
or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to
any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any
other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance
policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the
insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,
whether or not then due.
6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60
days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence
for at least one year after the date of occupancy, unless Lender determines that this requirement shall cause undue hardship for
the Borrower or unless extenuating circumstances exist which are beyond Borrower's control.
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or
impair the Property, allow the Property to deteriorate or commit waste on the Property. Borrower shall maintain the Property in
order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless i is determined pursuant to
Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to
avoid further deterioration or damage. If insurs ce or condemnation proceeds are paid in connection with damage to the
Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such
purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments
as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property,
Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration.
If condemnation proceeds are paid in connection with the taking of the property, Lender shall apply such proceeds to
the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts, and then to
payment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly
payments or change the amount of such payments.
Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause,
Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior
to such an interior inspection specifying such reasonable cause.
8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or
any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,
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misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in
connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's
occupancy of the Property as Borrower's principal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower
fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might
significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in
bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security
Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,
including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can
include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b)
appearing in court: and (c) paying reasonable attorneys’ fees to protect its interest in the Property and/or rights under this
Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not
limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes,
eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may
take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that
Lender incurs no liability for not taking any or all actions authorized under this Section 9.
Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this
Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with
such interest, upon notice from Lender to Borrower requesting payment.
If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. Borrower
shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall
not, without the express written consent of Lender, alter or amend the ground lease. [f Borrower acquires fee title to the
Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing.
10, Assignment of Miscellaneous Proceeds; Forfeiture, All Miscellaneous Proceeds are hereby assigned to and
shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the
restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,
Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property
to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.
Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is
completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous
Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the
restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be
applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied
to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums
secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and
Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the
Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the
partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial
taking, destruction, or loss in value. Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the
Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured
immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the
Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as
defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within
30 days afler the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to
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restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing
Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of
action in regard to Miscellaneous Proceeds.
Borrower shall be in default if any action or proceeding, whether civil or criminal. is begun that, in Lender's judgment,
could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this
Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 18, by
causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property
or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any
award or claim for damages that are attributable to the impairment of Lender’s interest in the Property are hereby assigned and
shall be paid to Lender.
All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order
provided for in Section 2.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or
modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor
in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender
shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for
yment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by
the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy
including. without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of
Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy.
12. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that
Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument
but does not execute the Note (a “co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the
co-signer’s interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums
secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer’s consent.
Subject to the provisions of Section 17, any Successor in Interest of Borrower who assumes Borrower's obligations
under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under
this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security
Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall
bind (except as provided in Section 19) and benefit the successors and assigns of Lender.
13. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default,
for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not
limited to, attorneys’ fees, property inspection and valuation fees, Lender may collect fees and charges authorized by the
Secretary. Lender may not charge fees that are expressly prohibited by this Security Instrument, or by Applicable Law.
If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest
or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such
loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already
collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this
refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces
principal, the reduction will be treated as a partial prepayment with no changes in the due date or in the monthly payment
amount unless the Note holder agrees in writing to those changes. Borrower's acceptance of any such refund made by direct
payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge.
14, Notices, All notices given by Borrower or Lender in connection with this Security Instrument must be in writing.
Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when
mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one
Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall
be the Property Address unless Borrower has designated a substitu
Preview
Hearing Date: 8/5/2024 1:30 PM FILED Location: Court Room 2806 Judge: Cocozza, Margaret Jean 6/4/2024 1:55 PM IRIS Y. MARTINEZ CIRCUIT CLERK COOK COUNTY, IL IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS 2024CH05262 COUNTY DEPARTMENT - CHANCERY DIVISION Calendar, 58 27966184 FREEDOM MORTGAGE CORPORATION 2024CH05262 PLAINTIFF, CASE NO.: Vv. JUDGE: KENDALE K. BRICE; JOSUE BERNARDO PROPERTY ADDRESS: ALARCON SERRANO; UNKNOWN 7125 SOUTH MICHIGAN AVENUE OWNERS AND NON-RECORD CHICAGO, IL 60619 CLAIMANTS; DEFENDANTS. COMPLAINT TO FORECLOSE MORTGAGE For its Complaint Plaintiff says: 1 Plaintiff, FREEDOM MORTGAGE CORPORATION, files this Complaint to foreclose the mortgage, trust deed or other conveyance in the nature of a mortgage ("Mortgage”) hereinafter described, pursuant to 735 ILCS 5/15-1101 et. seq. of the Illinois Code of Civil Procedure, and joins the persons named in the caption as Defendants: KENDALE K. BRICE; JOSUE BERNARDO ALARCON SERRANO; UNKNOWN OWNERS AND NON-RECORD CLAIMANTS Attached as "Exhibit A" is a true copy of the Mortgage which has been modified to redact certain Non-Public Personal Information (“PI”) from the exhibit. Attached as "Exhibit B" is a true copy of the Note secured thereby which has been modified to redact certain PI from the exhibit. Attached as “Exhibit C” is a true copy of the Assignment(s) which has been modified to redact certain PI from the exhibit. 3 Information concerning said Mortgage: (a) Nature of the instrument: Mortgage. (b) Date of Mortgage: 5/14/2021 (c) Name of the mortgagors: KENDALE K. BRICE AND JOSUE BERNARDO ALARCON SERRANO (d) Name of the mortgagee: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., AS MORTGAGEE, AS NOMINEE FOR FINANCE OF AMERICA MORTGAGE LLC (e) Date of Recording and place of recording: 6/7/2021 in the Cook County Recorder of Deeds Office (f) Identification of Recording: Document No. 2115807324 (g) Interest Subject to the mortgage: Fee Simple (h) Amount of Original Indebtedness, including subsequent advances made under the mortgage: $234,671.00 (i) Legal description of mortgaged real estate: LOT 39 AND NORTH 1/3 OF LOT 38 IN BLOCK 1 IN D.B. SCULLY'S SUBDIVISION OF THE NORTHWEST 1/4 OF SECTION 27, TOWNSHIP 38 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS. COMMON ADDRESS: 7125 SOUTH MICHIGAN AVENUE CHICAGO, IL 60619 Tax ID# 20-27-102-009-0000 @ Statement as to Defaults: After all payments received have been applied, mortgagors are now in default for the monthly payments of principal and interest; and taxes, advances and insurance, if any, for December 01, 2023 through the present; the principal and balance due on the note and mortgage is $221,027.47, plus interest, costs and fees, and advances if any, made by the plaintiff. Interest accrues pursuant to the terms of the note. The current per diem is $16.65. (k) Name of present owner(s) of the real estate: KENDALE K. BRICE (1) Names of other persons who are joined as defendants and whose interest in or lien on the mortgaged real estate is sought to be terminated None Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois :ookcountyclerkofcourt.org (m) Names of defendants claimed to be personally liable for deficiency unless personal liability is discharged in a Bankruptcy proceeding, or otherwise released KENDALE K. BRICE (n) Capacity in which plaintiff brings this foreclosure: Plaintiff is the legal holder of the indebtedness secured by the mortgage being foreclosed herein. (0) Facts in support of a request for attorneys’ fees and of costs and expenses, if applicable: The subject mortgage provides for the recovery of attorney fees, court costs, and expenses in the event of a default under the terms of the mortgage. 4. Plaintiff alleges that in addition to persons designated by name herein and the Unknown Defendants referred to above, there are other persons, and/or non-record claimants who are interested in this action and who have or claim some right, title, interest or lien in, to or upon the real estate, or some part thereof, in this Complaint described, including but not limited to the following Unknown Owners and Non-Record Claimants. That the name of each of such persons is unknown to the Plaintiff and on diligent inquiry cannot be ascertained, and all such persons are therefore made party defendants to this action by the name and description of UNKNOWN OWNERS and NON-RECORD CLAIMANTS. That should a deficiency result from the foreclosure sale of the subject property, Plaintiff may seek an In Personam or an In Rem deficiency judgment unless the defendant(s) which are liable on the subject mortgage note have had personal liability on said note discharged in a Bankruptcy proceeding or ifsaid liability has been otherwise discharged or released. That should the subject property be vacant, the Plaintiff may seek to have the Court find that the property is abandoned pursuant to 735 ILCS 5/15-1603, Illinois Code of Civil Procedure. That the Plaintiff may seek appointment of Mortgagee in Possession or appointment of receiver. WHEREFORE, PLAINTIFF REQUESTS: 1 A Judgment of Foreclosure and Sale. Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois :ookcountyclerkofcourt.org A Judgment for attorney's fees, costs and expenses. An Order Approving the Foreclosure Sale and an Order granting possession. An In Personam or an In Rem Deficiency Judgment, if sought, unless defendant(s) have had personal liability on the subject mortgage note discharged in a Bankruptcy proceeding, or otherwise released. An order granting a shortened redemption period, if sought. Appointment of Mortgagee in Possession or Receiver, if sought. Such other and further reliefas the Court deems just. FREEDOM MORTGAGE CORPORATION By:_/s/Christopher Schott_ 4/23/2024 | ARDC No. 6336722 Robertson Anschutz Schneid Crane & Partners, PLLC Attorney for Plaintiff 205 N. Michigan Avenue Suite 810 Chicago, Illinois 60601 Phone: (561) 241-6901 E-mail: ILmail@raslg.com Pursuant to IL Supreme Court Rule 11 electronic mail (e-mail) notice shall be sent to ILmail@raslg.com. THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois :ookcountyclerkofcourt.org t Exhibit A % Brice 1 Ken de ae . 2115807324 Fee: $98.00 Illinois Anti-Predatory , KarenA. Yarbrough Cook County Clerk Lending Database Date: 06/07/2021 09:45 AM Pg: 1 of12 Program Gna — Freedom Certificate of Compliance a XY ae oF Report Mortgage Fraud 844-768-1713 ‘The property identified as: PIN: 20-27-102-009-0000 Address: Street: 7125 SOUTH MICHIGAN AVENUE Street line 2: City: CHICAGO State: IL ZIP Code: 60619 Lender, Finance of America Mortgage LLC Borrower: Kendale K Brice and Josue Bemardo Alarcon Serrano Loan / Mortgage Amount: $234,671.00 Pursuant to 765 ILCS 77/70 et seq., this Certificate authorizes the County Recorder of Deeds to record a residential mortgage secured by this property and, if applicable, a simultaneously dated HELOC. Certificate number. £99807F2-31F3-4465-A729-BEBCCA679904 Execution date: 5/14/2021 After Recording Retum To: FINANCE OF AMERICA MORTGAGE LLC ATTN: TPO CUSTOMER SUPPORT 300 WELSH ROAD, BUILDING 5, SUITE A Sr ee HORSHAM, PA 19044 Gu MP (855) 801-8392 This Instrument Prepared By: DAWN DITIZIO FINANCE OF AMERICA MORTGAGE Oot LLC ORG 300 WELSH ROAD, BUILDING 5, SUITE A HORSHAM, PA 19044 (855) 801-8392 [Space Above This Line For Recording Dataj MORTGAGE BRICE Loan #:| PIN: 20-27-102-009-0000 MIN:I MERS Phone: 1-888-679-6377 Case #: DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 10, 12, 17, 19 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 15. (A) "Security Instrument" means this document, which is dated MAY 14, 2021, together with all Riders to this document. (B) "Borrower" is KENDALE K BRICE, MARRIED TO JOSUE BERNARDO ALARCON SERRANO. Borrower is the mortgagor under this Security Instrument. (C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is FINANCE OF AMERICA MORTGAGE LLC. Lender is a LLC organized and existing under the laws of DELAWARE. Lender's address is 300 WELSH ROAD, BUILDING 5, SUITE A, HORSHAM, PA 19044. (E) "Note" means the promissory note signed by Borrower and dated MAY 14, 2021. The Note states that Borrower owes Lender TWO HUNDRED THIRTY-FOUR THOUSAND SIX HUNDRED SEVENTY-ONE AND 00/100 Dollars (U.S. $234, 671.00) plus interest at the rate of 2.750%. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than JUNE 1, 2051. (F) "Property" means the property that is described below under the heading “Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: OD Adjustable Rate Rider O Condominium Rider O Planned Unit Development Rider DOther(s) [specify] FHA Mlinois Mortgage - 09/15 1937114 Page 1 of 10 a (t) “Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders {that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point- of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (O) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and testrictions that are imposed in regard to a “federally related mortgage loan" even if the Loan does not qualify as a “federally related mortgage loan” under RESPA. (Q) "Sceretary" means the Secretary of the United States Department of Housing and Urban Development or his designee. (R) "Successor in Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS the following described property located in the COUNTY of COOK: LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF. which currently has the address of 7125 SOUTH MICHIGAN AVENUE, CHICAGO, IL 60619 ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property, All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record, THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with FHA Itinois Mortgage - 09/15 1937114 Page 2 of 10 a limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1, Payment of Principal, Interest, Escrow Items, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 14. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied carlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: First, to the Mortgage Insurance premiums to be paid by Lender to the Secretary or the monthly charge by the Secretary instead of the monthly mortgage insurance premiums; Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and other hazard insurance premiums, as required; Third, to interest due under the Note; Fourth, to amortization of the principal of the Note; and, Fifth, to late charges due under the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums to be paid by Lender to the Secretary or the monthly charge by the Secretary instead of the monthly Mortgage Insurance premiums. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement” is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a FHA Illinois Mortgage - 09/15 ea 9371.14 Page 3.of 10 a Es notice given in accordance with Section 14 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4, Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement: (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage,” and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense, Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become FHA Hlinois Mortgage - 09/15 ea 19371.1 Page 4 of 10 a a additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender’s satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender determines that this requirement shall cause undue hardship for the Borrower or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless i is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurs ce or condemnation proceeds are paid in connection with damage to the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. If condemnation proceeds are paid in connection with the taking of the property, Lender shall apply such proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any delinquent amounts, and then to payment of principal. Any application of the proceeds to the principal shall not extend or postpone the due date of the monthly payments or change the amount of such payments. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, FHA Illinois Mortgage - 09/15 ea 1937114 Page Sof 10 a a misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court: and (c) paying reasonable attorneys’ fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. Borrower shall not surrender the leasehold estate and interests herein conveyed or terminate or cancel the ground lease. Borrower shall not, without the express written consent of Lender, alter or amend the ground lease. [f Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10, Assignment of Miscellaneous Proceeds; Forfeiture, All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days afler the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to FHA Illinois Mortgage - 09/15 = 1937114 Page 6 of 10 a as restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal. is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender’s interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for yment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including. without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 12. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a “co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer’s interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer’s consent. Subject to the provisions of Section 17, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 19) and benefit the successors and assigns of Lender. 13. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys’ fees, property inspection and valuation fees, Lender may collect fees and charges authorized by the Secretary. Lender may not charge fees that are expressly prohibited by this Security Instrument, or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment with no changes in the due date or in the monthly payment amount unless the Note holder agrees in writing to those changes. Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 14, Notices, All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitu