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Hearing Date: 10/2/2024 9:30 AM
Location: Court Room 2402
Judge: Price Walker, Allen
FILED
6/4/2024 11:24 AM
STATE OF ILLINOIS ) IRIS Y. MARTINEZ
SS
CIRCUIT CLERK
COUNTY OF COOK ) COOK COUNTY, IL
2024CH05246
IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS Calendar, 3
COUNTY DEPARTMENT, CHANCERY DIVISION 27960926
MARGARET O’SULLIVAN P.C.
Plaintiff,
V.
Case No.
2024CH05246
PAUL SPASS and ATHENA PARK
Defendants.
COMPLAINT FOR INTERPLEADER
NOW COMES Plaintiff, Margaret O’Sullivan, P.C. for Interpleader against Defendants,
Paul Spass and Athena Park, alleges as follows:
Margaret O’Sullivan P.C. is an Illinois corporation in good standing in the State of
Illinois, with offices in Cook County, Illinois. (“Holder”).
Paul Spass (“Seller”) is an individual who resides in Cook County, Illinois.
Athena Park (“Buyer”) is an individual who resides in Will County, Illinois.
Seller and Buyer entered into a Real Estate Contract (“Contract”), dated April 20,
2023, for the sale/purchase of the real property commonly known as 7956 W. Golf
Drive, Palos Heights, Illinois 60463 (“Property”). (A copy of the Contract is attached
hereto and made part hereof as Exhibit “A”).
Pursuant to Paragraph 4b of the Contract, Buyer deposited earnest money in the
amount of $10,000.00 (“Earnest Money”) with Holder pursuant to the agreement of
the parties. (A copy of the email communication dated April 20, 2023, is attached
hereto, and made part hereof as Exhibit “B”)
Holder remains in possession of the Earnest Money. (A copy of the Earnest Money
Check is attached hereto and made part hereof as Exhibit “C”).
The Contract provided that the Parties had a period of time for inspection and
attorney review of the terms of the Contract (“Attorney Review and Inspection
Period”). Pursuant to the Contract, the Attorney Review and Inspection Period was
set to expire on April 27, 2023. See Paragraph 10 of the Contract (Exhibit “A”).
On April 24, 2023, Seller, through his attorney, John Farrell agreed to an extension
of the Attorney Review and Inspection Period via an email communication to the
Holder. (A copy of the email communication dated April 24, 2023, is attached
hereto, and made part hereof as Exhibit “D”).
On April 25, 2023, Buyer, through her attorney, Margaret O’Sullivan, sent a written
extension request to extend the attorney review period and inspection period in the
Contract through May 1, 2023. (A copy of the extension request is attached hereto
and made part hereof as Exhibit “E”).
10. Buyer, through her attorney, Margaret O’ Sullivan, terminated the Contract on May 1,
2023, pursuant to Paragraph 10b of the Contract. (A copy of the termination letter
dated May 1, 2023, is attached hereto, and made part hereof as Exhibit “F”).
11 On May 2, 2023, Holder received communication via email from Seller’s attorney,
advising Holder that Seller objected to the refund of Buyer’s Earnest Money. (A
2-
copy of the email communication dated May 2, 2023, is attached hereto, and made
part hereof as Exhibit “G”).
12. On May 4, 2023, Buyer signed the Mutual Cancellation and Release of Earnest
Money, which was tendered to Seller. (A copy of the Mutual Cancellation and
Release of Earnest Money is attached hereto and made part hereof as Exhibit “H”).
13 Pursuant to Paragraph 26a of the Contract, Holder sent via certified mail and regular
U.S mail, a fourteen (14) day notice dated July 13, 2023, to the Seller, Seller’s
attorney and Buyer stating that the Holder intended to release the Earnest Money to
the Buyer in the absence of any written objection. (A copy of the 14-day notice is
attached hereto and made part hereof as Exhibit “I”).
14 On July 26, 2023, Holder received a letter from Seller’s counsel, John Farrell stating
Seller’s objection to the release of the Earnest Money to Buyer. (A copy of Seller’s
letter is attached hereto and made part hereof as Exhibit “J”).
12. Both Seller and Buyer each claim the Earnest Money and demand payment thereof.
13 At all relevant times, Holder has been, and is now ready, willing, and able to pay the
Earnest Money to the person or persons lawfully entitled to receive it, and to whom
Holder can pay in safety without fear or threat of claim by or liability to any other
party.
14 Holder offers to bring the Earnest Money into Court and pay it to such person or
persons as the Court directs.
15 Holder brings this Complaint of its own free will and to avoid being sued by either
Seller or Buyer.
3-
WHEREFORE, Plaintiff requests the following relief:
A That Defendants Paul Spass and Athena Park severally determine to whom the
Earnest Money belongs and is payable, and if they cannot, an order of this court making a
determination as to whom the Earnest Moey should be made payable:
B That Defendants Paul Spass and Athena Park interplead and settle and adjust their
demands among themselves, Plaintiff being willing and desirous that the Earnest Money be paid to
one or both of them or to whom in the judgment of the Court, are entitled to same;
Cc That Plaintiff be able to bring and pay the Earnest Money into the Court, or to
deliver the Earnest Money to such officer or persons that the Court may direct, which Plaintiff
offers to do, for the benefit of one or both of the Defendants, subject to further order and
determination of the Court:
D That each of the Defendants be enjoined by the Court from commencing or
maintaining any action against Plaintiff
for recovery of the Earnest Money:
E The Plaintiff have such other and further or different relief as the Court finds
equitable and proper; and
F A finding that the Plaintiffis entitled to fees and costs.
Respectfully Submitted,
aeet OA
Margaret O’Sullivan
Margaret O’ Sullivan P.C
10723 W. 159" Street
Orland Park, IL 60467
(708) 966-0721
Attorney No. 48238
meg@hugueletlaw.com
Bis
EXHIBIT
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REAL MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 7.0 eS
1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the “Parties.
”
2 Buyer Name(s) [PLease print] Athena Park
Seller Name(s) [PLEASE PRINT] £ wi Syoee
ff Dual Agency applies, check here Q and coniplete Optional Paragraph 29.
2. THE REAL ESTATE: Real Estate is defined as the property, all improvements, the fixtures
and Personal Property
included therein. Seller agrees to convey to Buyer or to Buyer's designated grantee, the
Real Estate with
approximate lot size or acreage of
commonly known as:
7956 W Golf Dr Palos Heights IL 60463__Cook
Address Unit
# GF apli
10 Permanent Index Number(s): 2336303124 1036
State Zp County
O Single Family Attached O Single Family Detached Q Multi-Unit
1 if Designated Parking is Included: # of space(s) : identified as space(s) #
; location
12 [CHECK TYPE] O deeded space, PIN: O limited common element Q assigned space.
13 If Designated Storage is Included: # of space(s) : identified as space(s) #
; location
14 [CHECK TYPE] O deeded space, PIN:
> ~ Q limited common element O assigned space.
15 3. FIXTURES AND PERSONAL PROPERTY AT No. ADDED VALUE:
All of the fixtures and included Personal Property
16 are owned by Seller and to Seller’s nowledge:are in operating
condition on Date of Acceptance, unless otherwise
7 stated herein. Seller agrees to transfer to Buyer all fixtures, all heating, electrical
, plumbing, and well systems
18 together
pthe ‘with the following items at no added valueby Bill of Sale at Closing [CHECK OR ENUMERA
TE APPLICABLE ITEMS}:
19X, X__Wine/Beverage Refrigerat X __ Light Fixtures,as they exist X__ Fireplace Gas Log(s)
20X__ Oven/Range/Stove Sump Pump(s) X__Builtin or attach ed shelving
21X__ Microwave _ Water Softener. {unless rented)X. All Window Treatmen
22X_ Dishwasher & Hardware
ts X_ Carbon Monoxide Detectors
X__ Central Air C ‘onditioning. — Satellite Dish
23X. Garbage Disposal ‘Central Humidifier
Invisible Fence System, Collar & Box
— Wall Mounted Brackets (AV/TV) X_ Garage Door Opener(s)
24 —Trash Compactor _ Cent Vac ra
& Equipme
ltit — Security System( s) (unless rented)
Washer with all Transmitters
X_ All Tacked Down Carpeting” — Intercom System
—Dryer — Outdoor Shed
27
— Existing
Storms & Screens — Electronicor Media Air Filter(s) __ Outdoor Playset(s)
Attached Gas Grill _ Window Air Conditioner(s)~ _— Backup Generator System
28X__ Water Heater X__ Ceiling Fan(s) Planted Vegetation
— Fireplace Scréens/Doors/Grates Hare
29 Other items Included at No Added Value:
30 items Not Included:
=aun¢ry room cabinets,
room cabin ets, sink,
sink, stand
standpii
pipe asas discussed
discussed _
31 Seller warrants to Buyer that all fixtures, systems and Personal Property included in this Contrac
32 operating condition at Possession t shall be in
: except
33 A system or item shall be deemed to be in operating condition
if it performs the function for which it is intended,
34 regardless of age, and does not constitute a.thfeat to health or. .
35. If Home Warranty applies, check here Q al
36 4. PURCHASE PRICE AND PAYMENT: The
nd
= plete Optional Paragraph 32.
Purchase Price.is $ 479,000.00 _ After the payment of Earnest
37 Money as provided below, the balance of the Purch:
ase Pricesas adjusted by prorations, shall be paid at Closing
38 “Good Funds” as defined by law. -
in
39 a) CREDIT AT CLOSING: [ir APPLICABLE] Provided Bu;
tyer’s lender permits such credit to show on the final
40 settlement statement or lender's closing discilosure, and
if not, such lesser amount as the lender permits, Seller
4 agrees
to credit $ to Buyérat Closing tobe applied ‘to prepaid expenses, closing costs or both.
42 b) EARNEST MONEY: Earnest Money of $ 10,000.00. shall be tendered to Escrowee on or before 2
43 Business Days after Date of Acceptance. Additional Eamest
44
Money,
if aniy, of § shall
be tendered.
20__. Barnst Money shall be held in trust for the mutual benefi
t of the Parties by
Buyer Initial (A? Buyer itial
7956 W Golf Dr, Palos Heats 60463 ~~. " Selier Initial _ 2S
nett
Address: Seller Initial
Page
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{cuteck ons]: O Seller's Brokerage; Ol Buyer’s Brokerage; @ As otherwise agreed by the Parties, as
“Escrowee.”
Inthe event the Contractis dedared null and void aris terminated, Eamest Money shall
be disbursed pursuant to Paragraph 26.
47 ¢) BALANCE DUE AT CLOSING: The Balance Due at Closing shall be the Purchase Price,
plus or minus
prorations, less Earnest Money paid, I s anyperedits at Closing, and shall be payable
49 5. CLOSING: Closing shall be on Mi Maye
50 writing. Closing shall take place at the escrow
in Good Funds at Closing.
20 23 or at such time as mutually agreed by the Parties in
Office of the title insurance company, its underwriter, or its issuing
51 agent that will issue the Owner's Policy of Title Inéurance, whicheveris situated nearest
the Real Estate.
52 6. POSSESSION: Unless otherwise provided ‘Optional Paragraph 35, Seller shall deliver possession to Buyer at
53 Closing. Possession shall be deemed to have delivered when Seller and all occupants (if any) have vacated
54 the Real Estate and delivered keys to the Real Estate to Buyer or to the office of the Seller’s
Brokerage.
55 7. FINANCING: [INITIAL ONLY ONE OF THE FOLLOWING SUBPARAGRAPHSa, b, or c]
56 — a) LOAN CONTINGENCY: Not later than fo: rty-five (45) days after Date of Acceptan
ce or five
57 (6) Business Days prior to the date ‘of Closing, whichever is earlier, (“Loan
Contingency Date”) Buyer shall
58 provide written evidence from Buyer's li icensed: lending institution
confirming that Buyer has received loan
8% approval subject only to. “at close” conditions, matters of title, survey, and
matters within Buyer's control for a loan
60 as follows: [CHECK ONE] O fixed; O-adjustable; [CHECK ONE] OQ. conventional; OQ FHA; OQ VA; Q USDA;
61 Q other loan for
% of the Purchase Price, plus private mortgage insurance (PMI),
62 if required, with an interest rate (initial rate if an adjustable rate mortgage: used)
not to exceed __% per annum,
63 amortized over not less than years: Buyer shall pay discount points not to exceed % of the loan amount.
64 Buyer shall pay origination fee(s), closing costs. charged by lender, and title
company escrow closing fees.
85 If Buyer, having applied for the loan specified above, is unable to provide
such loan approval and serves Notice to
86 Seller not later than the Loan Contingency Date, this Contract shall be null and
: void. If Buyer is unable to provide
67 such written evidence not later than the daté specified herein or by any
extension date agreed to by the Parties,
88 Seller shall have the option of declaring this ct terminated by giving Notice to Buyer. If prior to the Seller
69 serving such Notice to terminate, Buyer provide titten evidence of such loan approval, this Contract shall remain
70 in full force and effect.
71 Upon the expiration of ten (10) Business D iss after Date of Accepta
nce, if Buyer has failed to make a loan
72 application and pay all fees required for such’ pplication to proceed
ap) and the appraisal to be performed, Seller shall
73 have the option to declare this Contract terminated, by giving Notice
to Buyer not later than five (6) Business Days
74 thereafter or any extension thereof agreed.to.by the Parties in writing.
75 A Party causing delay in the loan- approval. Process shall
not have the right to terminate under this
76 subparagraph. In the event neither Party-elects: 3: ‘to declare this
Contract: terminated as specified above, or as
77 otherwise agreed, then this Contract shall.c ontinue in full force
and effect without any loan contingencies.
78 Unless otherwise provided in Paragr30, aph this Contact is not contingent tipon the sale and/or closing of
79 Buyer's existing real estate. Buyer shall be deemed to have Satisfied
the financing conditions of this subparagraph
80 if Buyer obtains a loan approval in aceordanie ‘with the terms.
of. this subparagraph even though the loan is
81 conditioned on the sale and/or closing of Buyér’s éxisting real estate.
82 If Buyer is seeking FHA, VA, or USDA financii ig, tequired amendments
and disclosures shall be attached to this
. ei VA, the Funding Fee, or if FHA, the Mortgage Insurance Premium (MIP),
shall be paid by Buyer.
= b) CASH TRANSACTION WITH NO MORTGAGE: [ALL CASH] If this
selection is made, Buyer will pay
85_at Closing, in the form of “Good Funds,” the Balaice Die at Closin
g. Buyer represents to Seller, as of the Date of Offer,
86 that Buyer has sufficient funds available to satisfy ‘the’provision
s of this subparagraph, Buyer agrees to verify the above
87 representation upon the reasonable request of Séller and to author
ize the disclosure of such financial information to
88 Seller, Seller's attorney or Seller’s broker that maybe reason
ably necessary to prove the ay Vi ailability of sufficient funds
Buyer Initial of Buyer Initial . Seller Iria PS Seller Initial
Address: 7956 W Golf Dr, Palos Hei
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to close. Buyer understands and agrees that, 's0 long as Seller has fully complied with Seller’s obligations
under this
Contract, any act or omission outside of the control of Seller, whether intentional or not, that prevents
Buyer from
ot satisfying the Balance Due at Closing, shall constitute a material breach of this Contract by Buyer. The Parties
shall
share the title company escrow closing fee equally. Unless otherwise provided in Paragraph 30, this Contract
shall
93 notbe contingent upon the sale and/or dosing of Buyer's existing teal estate.
c} CASH TRANSACTION, MORTGAGE ALLOWED: If this selectionis made, Buyer will pay at closing,
in the form of “Good Funds,” the Bala Due nce
at Closing. Buyertepresents to Seller, as of the Date of Offer, that Buyer
has sufficient funds available to satisfy.the provisions of this subparagraph. Buyer agrees to verify the above
97 tepresentation upon the reasonable request of Seller and to authorize the-disclosure
of such financial information to
Seller, Seller’s attorney or Seller's broker that may be reasonably necessary to prove the availability of sufficient funds
to close. Notwithstanding such Tepresentation,Seller agrees to reasonably and promptly cooperate with Buyer
so that
100 Buyer may apply for and obtain a mortgage loan loan or loans includbut ing not limitedto providing accessto the Real
101 Estate to satisfy Buyer's obligations to pay the : Balance Due at Closing. Such
4 cooperation shall include the performance
102 ina timely manner of all of Seller's pre-closing ob] ions under this Contract. This Contshall ract NOT be contingent
103 upon Buyer obtaining financing. Buyer unde: ds and agreés tliat; so long’as Seller has fully complied with Seller's
104 obligations under this Contract, any act or omission ‘outside of the control
of Seller, whether intentional or not, that
105 prevents Buyer from satisfying the Balance Dué: ‘at Closing shall constitute
a material breach of this Contract by Buyer.
106 Buyer shall pay the title company escrow closiig fee if Buyer obtains a mortgage;
provided however, if Buyer elects
107 to close without a mortgage loan, the Parties shall share the title company escrow closing fee equally.
Unless otherwise
108 provided in Paragraph 30, this Contract shall-not be contingent
upon the sale and/or closing of Buyer's existing
109 real estate. *
110 8. STATUTORY DISCLOSURES: If a plicable, prior to signing this Coritract, Buyer:
111 [CHECK ONE] Q has @ has not received a coniplete i Minois Residential Real Property
Disclosure;
112 [CHECK ONE] @ has O has not received-the EPAP, ‘amphlet; “Protect
Your Family From Lead In Your Home;”
113 {CHECK ONE] O has @ has not received.a-Lead- ‘Based Paint Disclosure; .
114, [CHECK ONE] @ has O has not received: the JEMA,“Radon Testing Guidelines
for Real Estate Transactions;”
115 [CHECK ONE] has @ has not received the Disclosure of Information.on Radon-
Hazards.
116 9. PRORATIONS: The requirements contained in this paragtaphi shall survive
the Closing. Proratable items shall
V7 be prorated to and including the Date of Cl and shall include without limitation, general real estate taxes,
118 rents and deposits (if any) from tenants; Special Service
Area or Special Asséssment Area tax for the year of Closing
119 only; utilities, water and sewer, pre-puri ‘chase
sed fuel; and Homeowner or Condominium Association fees
120 Master/Umbrella Association fees, if app! (and
ey. Accumulated reserves of a Homeowner/Condominium
121 Association(s) are not a proratable item.
.
122 a) The general real estate taxes shall be pte oratedto and.including the
date of Closing based on 105 _ % of
123 the most recent ascertainable full year tax’ I. All general real estate tax
prorations shall be final as of Closing,
124 except as provided in Paragrap!) h 23. If the amount of the most
recent ascertainable full year tax bill reflects a
125 homeowner, senior citizen, disabled vet x Other exemption, a senior freeze or senior deferral, then Seller
126 ‘has submitted or will submit in a tithely mi er all necess: ‘ary documentation to the appropriate governmental
127 entity, before or after Closing, to preserve said exemption(s).
The proration shall not include exemptions to
128 which the Seller is not lawfully éntitled.
129 b) Seller represents, if applicable, thiat’ ‘of Date of Acceptance Homeo
wner/Condominium Association(s)
130 fees are $ 422 per Monthly (and, if applicable, Master/Uribrella Association fees are
131 $ per “)- Selle igrees to pay prior to or at Closing the remaining balanc
132 special assessments e of any
by the Association(S confirtned priorto Date of Accept
ance.
Buyer Initial (aw Buyer Initial ———— “Seller Initiat__ PS
7 9! 5 6 WwSot
Address: see G iO! I if DPr,rf, Pal Hei hts,
iOS. Neig!
Palos ik 60463 Seller Initial
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133 ¢) Special Assessment Area or Special Service Area installments due after the year of
Closing shall not be
4134 proratable items and shall be paid by Buyer, unless otherwisé provided by ordinanc
e or statute.
135 10. ATTORNEY REVIEW: Within five (5) Business Days after Date of Acceptance,
the attorneys for the respective
136 Parties, by Notice, may: :
137 a) Approve this Contract; or
138 b) Disapprove this Contract, which disapproval shall not be based solély upon
the Purchase Price; or
139 ) Propose modifications to this Contract, except for the Purchase Price,
which proposal shall be conclusively
140 deemed a counieroffer notwithstanding any language contained in any
such proposal purporting to state the
144 proposal is not a counteroffer. If after expiration of ten (10) Business Days
after Date of Acceptance written
142 agreement has not been reached by the Parties with r ‘espect to resolution of all proposed
modifications, either
143 Party may terminate this Contract t by serving Notice, whereupon this Contract shall be immediately deemed
144 terminated; or
145 a) Offer proposals specifically referriti; x subparagraph d) which shall not be considered a counteroffer.
146 Any proposal not specifically reféré this subparagraphd) shall be deemed made pursuant to
147 subparagraph c) as a modification. If proposals made with specific reference to this
subparagraph d) are not
148, agreed upon, neither Buyer nor Seller thay declare this contract null and void, and this contract shall remain
149 in full force and effect.
4150 If Notice of disapproval or proposed modifications is not served
within the time specified herein, the
154 provisions of this paragraph shall be deemed waived by the Parties
and this Contract shall remain in full force
182 and effect. If Notice of termination is given; said
termination shall be absolute and the Contract rendered null
153 and void upon the giving of Notice, notwithstanding any language
proffered by any Party purporting to permit
184 unilateral reinstatement by withdrawal of any
proposal( (s).
155 11. WAIVER OF PROFESSIONAL INSPECTIONS: [INITIAz IF
APPLICABLE] Buyer acknowledges
156 the right to conduct inspections of the Real’Bstaté arid hereby
waives the right to conduct any such inspections of
187 the Real Estate, and further agrees that the provisions of Paragra
ph 12 shall not apply.
158 12. PROFESSIONAL INSPECTIONS AND INSPECTION NOTICES: INOT
APPLICABLE FF PARAGRAPH 11 IS INITIALED}
159 Buyer may conduct at Buyer's expense (unless payment for such expen:
se is otherwise required by governmental
160 regulation) any or all of the following inspectionsof the Real
Estate by one or more licensed or certified
inspection
161 services: home, radon, environmental, lead-baséd paint, lead-based paint hazards or
wood-destroying insect
162 infestation, or any other inspections desired by Buyer in
the exercise of reasonable due diligence. Seller agrees to
163 make all areas of the Real Estate accessible. for inspection(s) upon reasonable notice and to have all utilities turned
164 on during the time of such inspections. er Shall indemwlify Seller and hold Seller harmless from and against
165 any loss or damage caused by any acts of ju’ - er OF
any person performing any inspection on behalf of Buyer.
166 a) The request for repairs shall cover only'the major components of the Real
Estate, limited to central heating
167 and cooling system(s), plumbing and well system, electrical system, roof,
walls, windows, doors, ceilings,
168 floors, appliances and foundation. A major ‘component shall'be deemed to be in
operating condition, and
169 therefore not defective within the meaning of thisis paragraph, ifit does not constitute a current threat to health
170 or safety, and performs the function for which’ itis intended, regardless
of age or if itis near or at the end of its
171 useful life. Minor repairs, routine maintenance items and painting, decorating or
other items of a cosmetic
172 nature, no matter the cost to remedy same, , do'nct constitute defects, are nota
part of this contingency and shall
173 not be a basis for the Buyer to canéel this Contract. A request by
Buyer for credits or repairs in violation of
174 the terms of this subparagraph shall all LOW Seller to declare this Contrac
t terminated and direct the return
175 of Buyer’s Earnest Money. If radon. miligat io2 vis performed, Seller’
shall pay for any retest.
Buyer Initial we Buyer Initial Seller Initial PS
Address: 7956 W Golf Dr, Palos Hei it, it 60463 Seller Initial
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176 b) Buyer shall serve Notice upon Seller or Seller’ 's attorney of any major component
defects disclosed by any
177 inspection for which. Buyer requests tésolut by Seller within five (5) Business Days (ten (10) calendar days
178 for a lead-based paint or lead-based paint ‘d inspection) after Date of Acceptance. Buyer shall not send
179 any portion of the inspection report the Notice provided. under this subparagraph unless such
180 inspection report, or any part thereof, is specifically requested in writing
by Seller or Seller's attorney. If
181 after expiration of ten (10) Business Dat after Date of Acceptance written agreement has not been reached by
182 the Parties with respect to resolution all inspection issues, either Party may terminate this Contract by
183 serving Notice to the other Party, whereupon this Contract shall be immediately deemed terminat
ed.
184 ¢) Notwithstanding anything to the contrary set forth above in this, paragraph, in the
event the inspection
185 reveals that the condition of the Real Estate is unacceptable to Buyer and Buyer serves
Notice to Seller within
186 five (6) Business Days after Date of Acceptance, this Contract shall be null
and void. Said Notice shall not
187 include any portion of the inspection réports unless requested
by Seller.
188 d) Failure of Buyer to conduct said inspection(s) and notify Seller within the time
specified operates as a
189 waiver of Buyer's rights to terminat le this, Cantract under this Paragraph 12
and this Contract shall remain
490 in full force and effect. : i
1914 13. HOMEOWNER INSURANCE: This Contract.is contingent upon Buyer obtaining
evidence of insurability for an
192 Insurance Service Organization HO-3 or equivalent policy at standard Premium rates
within ten (10) Business
193 Days after Date of Acceptance. If Buyeris unable to obtain evidence of insurability
and serves Notice with proof
194 of same to Seller within the time specified, this Contract shall be null and void. If Notice is not
served within
196 the time specified, Buyer shall be deemed to Rave waived this contingency and this
Contract shall remain in
196 fall force and effect. .
197 14. FLOOD INSURANCE: Buyer shall have ‘option to declarthis
e Contract null and void if the Real Estate is
198 located in a special flood hazard area.If Noticé of the option
to declare contract null and void is not given to
199 Seller within ten (10) Business Days after Date. of ‘Accept
ance or by the Loan Contingency Date, whichever is
200 later, Buyer shall be deemed to have waived such option and
this Contract shall remain in full force and effect.
201 Nothing herein shall be deemed to affect any, rights afforded
by the Residential Real Property Disclosure Act.
18. CONDOMINIUM/COMMON INTEREST ASSOCIATIONS: [IF APPLICABLE] The Parties agree
203 contained in this
that the terms
paragraph, which may be contrary.to other terms of this Contract, shall superse
de any conflicting
204 terms, and shall apply to property subject to-the Minois Condom
inium Property Act and the Common Interest
205 Community
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Hearing Date: 10/2/2024 9:30 AM Location: Court Room 2402 Judge: Price Walker, Allen FILED 6/4/2024 11:24 AM STATE OF ILLINOIS ) IRIS Y. MARTINEZ SS CIRCUIT CLERK COUNTY OF COOK ) COOK COUNTY, IL 2024CH05246 IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS Calendar, 3 COUNTY DEPARTMENT, CHANCERY DIVISION 27960926 MARGARET O’SULLIVAN P.C. Plaintiff, V. Case No. 2024CH05246 PAUL SPASS and ATHENA PARK Defendants. COMPLAINT FOR INTERPLEADER NOW COMES Plaintiff, Margaret O’Sullivan, P.C. for Interpleader against Defendants, Paul Spass and Athena Park, alleges as follows: Margaret O’Sullivan P.C. is an Illinois corporation in good standing in the State of Illinois, with offices in Cook County, Illinois. (“Holder”). Paul Spass (“Seller”) is an individual who resides in Cook County, Illinois. Athena Park (“Buyer”) is an individual who resides in Will County, Illinois. Seller and Buyer entered into a Real Estate Contract (“Contract”), dated April 20, 2023, for the sale/purchase of the real property commonly known as 7956 W. Golf Drive, Palos Heights, Illinois 60463 (“Property”). (A copy of the Contract is attached hereto and made part hereof as Exhibit “A”). Pursuant to Paragraph 4b of the Contract, Buyer deposited earnest money in the amount of $10,000.00 (“Earnest Money”) with Holder pursuant to the agreement of the parties. (A copy of the email communication dated April 20, 2023, is attached hereto, and made part hereof as Exhibit “B”) Holder remains in possession of the Earnest Money. (A copy of the Earnest Money Check is attached hereto and made part hereof as Exhibit “C”). The Contract provided that the Parties had a period of time for inspection and attorney review of the terms of the Contract (“Attorney Review and Inspection Period”). Pursuant to the Contract, the Attorney Review and Inspection Period was set to expire on April 27, 2023. See Paragraph 10 of the Contract (Exhibit “A”). On April 24, 2023, Seller, through his attorney, John Farrell agreed to an extension of the Attorney Review and Inspection Period via an email communication to the Holder. (A copy of the email communication dated April 24, 2023, is attached hereto, and made part hereof as Exhibit “D”). On April 25, 2023, Buyer, through her attorney, Margaret O’Sullivan, sent a written extension request to extend the attorney review period and inspection period in the Contract through May 1, 2023. (A copy of the extension request is attached hereto and made part hereof as Exhibit “E”). 10. Buyer, through her attorney, Margaret O’ Sullivan, terminated the Contract on May 1, 2023, pursuant to Paragraph 10b of the Contract. (A copy of the termination letter dated May 1, 2023, is attached hereto, and made part hereof as Exhibit “F”). 11 On May 2, 2023, Holder received communication via email from Seller’s attorney, advising Holder that Seller objected to the refund of Buyer’s Earnest Money. (A 2- copy of the email communication dated May 2, 2023, is attached hereto, and made part hereof as Exhibit “G”). 12. On May 4, 2023, Buyer signed the Mutual Cancellation and Release of Earnest Money, which was tendered to Seller. (A copy of the Mutual Cancellation and Release of Earnest Money is attached hereto and made part hereof as Exhibit “H”). 13 Pursuant to Paragraph 26a of the Contract, Holder sent via certified mail and regular U.S mail, a fourteen (14) day notice dated July 13, 2023, to the Seller, Seller’s attorney and Buyer stating that the Holder intended to release the Earnest Money to the Buyer in the absence of any written objection. (A copy of the 14-day notice is attached hereto and made part hereof as Exhibit “I”). 14 On July 26, 2023, Holder received a letter from Seller’s counsel, John Farrell stating Seller’s objection to the release of the Earnest Money to Buyer. (A copy of Seller’s letter is attached hereto and made part hereof as Exhibit “J”). 12. Both Seller and Buyer each claim the Earnest Money and demand payment thereof. 13 At all relevant times, Holder has been, and is now ready, willing, and able to pay the Earnest Money to the person or persons lawfully entitled to receive it, and to whom Holder can pay in safety without fear or threat of claim by or liability to any other party. 14 Holder offers to bring the Earnest Money into Court and pay it to such person or persons as the Court directs. 15 Holder brings this Complaint of its own free will and to avoid being sued by either Seller or Buyer. 3- WHEREFORE, Plaintiff requests the following relief: A That Defendants Paul Spass and Athena Park severally determine to whom the Earnest Money belongs and is payable, and if they cannot, an order of this court making a determination as to whom the Earnest Moey should be made payable: B That Defendants Paul Spass and Athena Park interplead and settle and adjust their demands among themselves, Plaintiff being willing and desirous that the Earnest Money be paid to one or both of them or to whom in the judgment of the Court, are entitled to same; Cc That Plaintiff be able to bring and pay the Earnest Money into the Court, or to deliver the Earnest Money to such officer or persons that the Court may direct, which Plaintiff offers to do, for the benefit of one or both of the Defendants, subject to further order and determination of the Court: D That each of the Defendants be enjoined by the Court from commencing or maintaining any action against Plaintiff for recovery of the Earnest Money: E The Plaintiff have such other and further or different relief as the Court finds equitable and proper; and F A finding that the Plaintiffis entitled to fees and costs. Respectfully Submitted, aeet OA Margaret O’Sullivan Margaret O’ Sullivan P.C 10723 W. 159" Street Orland Park, IL 60467 (708) 966-0721 Attorney No. 48238 meg@hugueletlaw.com Bis EXHIBIT a DocuSign Envelope ID: 4A6F7582-F308-4889-9, AI6CESBS50F2 DocuSign Envelope ID: ADAS46D5-2ECD-488F-A847-05ABA1B4C80C REAL MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 7.0 eS 1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the “Parties. ” 2 Buyer Name(s) [PLease print] Athena Park Seller Name(s) [PLEASE PRINT] £ wi Syoee ff Dual Agency applies, check here Q and coniplete Optional Paragraph 29. 2. THE REAL ESTATE: Real Estate is defined as the property, all improvements, the fixtures and Personal Property included therein. Seller agrees to convey to Buyer or to Buyer's designated grantee, the Real Estate with approximate lot size or acreage of commonly known as: 7956 W Golf Dr Palos Heights IL 60463__Cook Address Unit # GF apli 10 Permanent Index Number(s): 2336303124 1036 State Zp County O Single Family Attached O Single Family Detached Q Multi-Unit 1 if Designated Parking is Included: # of space(s) : identified as space(s) # ; location 12 [CHECK TYPE] O deeded space, PIN: O limited common element Q assigned space. 13 If Designated Storage is Included: # of space(s) : identified as space(s) # ; location 14 [CHECK TYPE] O deeded space, PIN: > ~ Q limited common element O assigned space. 15 3. FIXTURES AND PERSONAL PROPERTY AT No. ADDED VALUE: All of the fixtures and included Personal Property 16 are owned by Seller and to Seller’s nowledge:are in operating condition on Date of Acceptance, unless otherwise 7 stated herein. Seller agrees to transfer to Buyer all fixtures, all heating, electrical , plumbing, and well systems 18 together pthe ‘with the following items at no added valueby Bill of Sale at Closing [CHECK OR ENUMERA TE APPLICABLE ITEMS}: 19X, X__Wine/Beverage Refrigerat X __ Light Fixtures,as they exist X__ Fireplace Gas Log(s) 20X__ Oven/Range/Stove Sump Pump(s) X__Builtin or attach ed shelving 21X__ Microwave _ Water Softener. {unless rented)X. All Window Treatmen 22X_ Dishwasher & Hardware ts X_ Carbon Monoxide Detectors X__ Central Air C ‘onditioning. — Satellite Dish 23X. Garbage Disposal ‘Central Humidifier Invisible Fence System, Collar & Box — Wall Mounted Brackets (AV/TV) X_ Garage Door Opener(s) 24 —Trash Compactor _ Cent Vac ra & Equipme ltit — Security System( s) (unless rented) Washer with all Transmitters X_ All Tacked Down Carpeting” — Intercom System —Dryer — Outdoor Shed 27 — Existing Storms & Screens — Electronicor Media Air Filter(s) __ Outdoor Playset(s) Attached Gas Grill _ Window Air Conditioner(s)~ _— Backup Generator System 28X__ Water Heater X__ Ceiling Fan(s) Planted Vegetation — Fireplace Scréens/Doors/Grates Hare 29 Other items Included at No Added Value: 30 items Not Included: =aun¢ry room cabinets, room cabin ets, sink, sink, stand standpii pipe asas discussed discussed _ 31 Seller warrants to Buyer that all fixtures, systems and Personal Property included in this Contrac 32 operating condition at Possession t shall be in : except 33 A system or item shall be deemed to be in operating condition if it performs the function for which it is intended, 34 regardless of age, and does not constitute a.thfeat to health or. . 35. If Home Warranty applies, check here Q al 36 4. PURCHASE PRICE AND PAYMENT: The nd = plete Optional Paragraph 32. Purchase Price.is $ 479,000.00 _ After the payment of Earnest 37 Money as provided below, the balance of the Purch: ase Pricesas adjusted by prorations, shall be paid at Closing 38 “Good Funds” as defined by law. - in 39 a) CREDIT AT CLOSING: [ir APPLICABLE] Provided Bu; tyer’s lender permits such credit to show on the final 40 settlement statement or lender's closing discilosure, and if not, such lesser amount as the lender permits, Seller 4 agrees to credit $ to Buyérat Closing tobe applied ‘to prepaid expenses, closing costs or both. 42 b) EARNEST MONEY: Earnest Money of $ 10,000.00. shall be tendered to Escrowee on or before 2 43 Business Days after Date of Acceptance. Additional Eamest 44 Money, if aniy, of § shall be tendered. 20__. Barnst Money shall be held in trust for the mutual benefi t of the Parties by Buyer Initial (A? Buyer itial 7956 W Golf Dr, Palos Heats 60463 ~~. " Selier Initial _ 2S nett Address: Seller Initial Page 1 of. 13 07.0 —-. oe enna en DocuSign Envelope ID: 4A6F7582-F3D8-4B89-9L A16CESBS5S0F2 DacuSign Envelope ID: ADA848D5-2ECD-488F-A847-05ABAIB4C80C {cuteck ons]: O Seller's Brokerage; Ol Buyer’s Brokerage; @ As otherwise agreed by the Parties, as “Escrowee.” Inthe event the Contractis dedared null and void aris terminated, Eamest Money shall be disbursed pursuant to Paragraph 26. 47 ¢) BALANCE DUE AT CLOSING: The Balance Due at Closing shall be the Purchase Price, plus or minus prorations, less Earnest Money paid, I s anyperedits at Closing, and shall be payable 49 5. CLOSING: Closing shall be on Mi Maye 50 writing. Closing shall take place at the escrow in Good Funds at Closing. 20 23 or at such time as mutually agreed by the Parties in Office of the title insurance company, its underwriter, or its issuing 51 agent that will issue the Owner's Policy of Title Inéurance, whicheveris situated nearest the Real Estate. 52 6. POSSESSION: Unless otherwise provided ‘Optional Paragraph 35, Seller shall deliver possession to Buyer at 53 Closing. Possession shall be deemed to have delivered when Seller and all occupants (if any) have vacated 54 the Real Estate and delivered keys to the Real Estate to Buyer or to the office of the Seller’s Brokerage. 55 7. FINANCING: [INITIAL ONLY ONE OF THE FOLLOWING SUBPARAGRAPHSa, b, or c] 56 — a) LOAN CONTINGENCY: Not later than fo: rty-five (45) days after Date of Acceptan ce or five 57 (6) Business Days prior to the date ‘of Closing, whichever is earlier, (“Loan Contingency Date”) Buyer shall 58 provide written evidence from Buyer's li icensed: lending institution confirming that Buyer has received loan 8% approval subject only to. “at close” conditions, matters of title, survey, and matters within Buyer's control for a loan 60 as follows: [CHECK ONE] O fixed; O-adjustable; [CHECK ONE] OQ. conventional; OQ FHA; OQ VA; Q USDA; 61 Q other loan for % of the Purchase Price, plus private mortgage insurance (PMI), 62 if required, with an interest rate (initial rate if an adjustable rate mortgage: used) not to exceed __% per annum, 63 amortized over not less than years: Buyer shall pay discount points not to exceed % of the loan amount. 64 Buyer shall pay origination fee(s), closing costs. charged by lender, and title company escrow closing fees. 85 If Buyer, having applied for the loan specified above, is unable to provide such loan approval and serves Notice to 86 Seller not later than the Loan Contingency Date, this Contract shall be null and : void. If Buyer is unable to provide 67 such written evidence not later than the daté specified herein or by any extension date agreed to by the Parties, 88 Seller shall have the option of declaring this ct terminated by giving Notice to Buyer. If prior to the Seller 69 serving such Notice to terminate, Buyer provide titten evidence of such loan approval, this Contract shall remain 70 in full force and effect. 71 Upon the expiration of ten (10) Business D iss after Date of Accepta nce, if Buyer has failed to make a loan 72 application and pay all fees required for such’ pplication to proceed ap) and the appraisal to be performed, Seller shall 73 have the option to declare this Contract terminated, by giving Notice to Buyer not later than five (6) Business Days 74 thereafter or any extension thereof agreed.to.by the Parties in writing. 75 A Party causing delay in the loan- approval. Process shall not have the right to terminate under this 76 subparagraph. In the event neither Party-elects: 3: ‘to declare this Contract: terminated as specified above, or as 77 otherwise agreed, then this Contract shall.c ontinue in full force and effect without any loan contingencies. 78 Unless otherwise provided in Paragr30, aph this Contact is not contingent tipon the sale and/or closing of 79 Buyer's existing real estate. Buyer shall be deemed to have Satisfied the financing conditions of this subparagraph 80 if Buyer obtains a loan approval in aceordanie ‘with the terms. of. this subparagraph even though the loan is 81 conditioned on the sale and/or closing of Buyér’s éxisting real estate. 82 If Buyer is seeking FHA, VA, or USDA financii ig, tequired amendments and disclosures shall be attached to this . ei VA, the Funding Fee, or if FHA, the Mortgage Insurance Premium (MIP), shall be paid by Buyer. = b) CASH TRANSACTION WITH NO MORTGAGE: [ALL CASH] If this selection is made, Buyer will pay 85_at Closing, in the form of “Good Funds,” the Balaice Die at Closin g. Buyer represents to Seller, as of the Date of Offer, 86 that Buyer has sufficient funds available to satisfy ‘the’provision s of this subparagraph, Buyer agrees to verify the above 87 representation upon the reasonable request of Séller and to author ize the disclosure of such financial information to 88 Seller, Seller's attorney or Seller’s broker that maybe reason ably necessary to prove the ay Vi ailability of sufficient funds Buyer Initial of Buyer Initial . Seller Iria PS Seller Initial Address: 7956 W Golf Dr, Palos Hei Page2 of 13 jahts, ik, 046s 27.0 . canst see sen poe DocuSign Envelope ID: 4A6F7582-F3D8-4B89-Si_ aMecEaEs50F3. ° DocuSign Envelope 1D: ADA848D5-2ECD-488F-A847-05ABA1B4CB0C to close. Buyer understands and agrees that, 's0 long as Seller has fully complied with Seller’s obligations under this Contract, any act or omission outside of the control of Seller, whether intentional or not, that prevents Buyer from ot satisfying the Balance Due at Closing, shall constitute a material breach of this Contract by Buyer. The Parties shall share the title company escrow closing fee equally. Unless otherwise provided in Paragraph 30, this Contract shall 93 notbe contingent upon the sale and/or dosing of Buyer's existing teal estate. c} CASH TRANSACTION, MORTGAGE ALLOWED: If this selectionis made, Buyer will pay at closing, in the form of “Good Funds,” the Bala Due nce at Closing. Buyertepresents to Seller, as of the Date of Offer, that Buyer has sufficient funds available to satisfy.the provisions of this subparagraph. Buyer agrees to verify the above 97 tepresentation upon the reasonable request of Seller and to authorize the-disclosure of such financial information to Seller, Seller’s attorney or Seller's broker that may be reasonably necessary to prove the availability of sufficient funds to close. Notwithstanding such Tepresentation,Seller agrees to reasonably and promptly cooperate with Buyer so that 100 Buyer may apply for and obtain a mortgage loan loan or loans includbut ing not limitedto providing accessto the Real 101 Estate to satisfy Buyer's obligations to pay the : Balance Due at Closing. Such 4 cooperation shall include the performance 102 ina timely manner of all of Seller's pre-closing ob] ions under this Contract. This Contshall ract NOT be contingent 103 upon Buyer obtaining financing. Buyer unde: ds and agreés tliat; so long’as Seller has fully complied with Seller's 104 obligations under this Contract, any act or omission ‘outside of the control of Seller, whether intentional or not, that 105 prevents Buyer from satisfying the Balance Dué: ‘at Closing shall constitute a material breach of this Contract by Buyer. 106 Buyer shall pay the title company escrow closiig fee if Buyer obtains a mortgage; provided however, if Buyer elects 107 to close without a mortgage loan, the Parties shall share the title company escrow closing fee equally. Unless otherwise 108 provided in Paragraph 30, this Contract shall-not be contingent upon the sale and/or closing of Buyer's existing 109 real estate. * 110 8. STATUTORY DISCLOSURES: If a plicable, prior to signing this Coritract, Buyer: 111 [CHECK ONE] Q has @ has not received a coniplete i Minois Residential Real Property Disclosure; 112 [CHECK ONE] @ has O has not received-the EPAP, ‘amphlet; “Protect Your Family From Lead In Your Home;” 113 {CHECK ONE] O has @ has not received.a-Lead- ‘Based Paint Disclosure; . 114, [CHECK ONE] @ has O has not received: the JEMA,“Radon Testing Guidelines for Real Estate Transactions;” 115 [CHECK ONE] has @ has not received the Disclosure of Information.on Radon- Hazards. 116 9. PRORATIONS: The requirements contained in this paragtaphi shall survive the Closing. Proratable items shall V7 be prorated to and including the Date of Cl and shall include without limitation, general real estate taxes, 118 rents and deposits (if any) from tenants; Special Service Area or Special Asséssment Area tax for the year of Closing 119 only; utilities, water and sewer, pre-puri ‘chase sed fuel; and Homeowner or Condominium Association fees 120 Master/Umbrella Association fees, if app! (and ey. Accumulated reserves of a Homeowner/Condominium 121 Association(s) are not a proratable item. . 122 a) The general real estate taxes shall be pte oratedto and.including the date of Closing based on 105 _ % of 123 the most recent ascertainable full year tax’ I. All general real estate tax prorations shall be final as of Closing, 124 except as provided in Paragrap!) h 23. If the amount of the most recent ascertainable full year tax bill reflects a 125 homeowner, senior citizen, disabled vet x Other exemption, a senior freeze or senior deferral, then Seller 126 ‘has submitted or will submit in a tithely mi er all necess: ‘ary documentation to the appropriate governmental 127 entity, before or after Closing, to preserve said exemption(s). The proration shall not include exemptions to 128 which the Seller is not lawfully éntitled. 129 b) Seller represents, if applicable, thiat’ ‘of Date of Acceptance Homeo wner/Condominium Association(s) 130 fees are $ 422 per Monthly (and, if applicable, Master/Uribrella Association fees are 131 $ per “)- Selle igrees to pay prior to or at Closing the remaining balanc 132 special assessments e of any by the Association(S confirtned priorto Date of Accept ance. Buyer Initial (aw Buyer Initial ———— “Seller Initiat__ PS 7 9! 5 6 WwSot Address: see G iO! I if DPr,rf, Pal Hei hts, iOS. Neig! Palos ik 60463 Seller Initial Page 3 of 13 07.0 _ se iitiene ne DocuSign Envelope ID: 4A6F7582-F3D8-4B89-9L_ MI6CESBS50F2 DocuSign Envelope ID: ADA84605-2ECD-488F-A847-0SABAIB4CB0C 133 ¢) Special Assessment Area or Special Service Area installments due after the year of Closing shall not be 4134 proratable items and shall be paid by Buyer, unless otherwisé provided by ordinanc e or statute. 135 10. ATTORNEY REVIEW: Within five (5) Business Days after Date of Acceptance, the attorneys for the respective 136 Parties, by Notice, may: : 137 a) Approve this Contract; or 138 b) Disapprove this Contract, which disapproval shall not be based solély upon the Purchase Price; or 139 ) Propose modifications to this Contract, except for the Purchase Price, which proposal shall be conclusively 140 deemed a counieroffer notwithstanding any language contained in any such proposal purporting to state the 144 proposal is not a counteroffer. If after expiration of ten (10) Business Days after Date of Acceptance written 142 agreement has not been reached by the Parties with r ‘espect to resolution of all proposed modifications, either 143 Party may terminate this Contract t by serving Notice, whereupon this Contract shall be immediately deemed 144 terminated; or 145 a) Offer proposals specifically referriti; x subparagraph d) which shall not be considered a counteroffer. 146 Any proposal not specifically reféré this subparagraphd) shall be deemed made pursuant to 147 subparagraph c) as a modification. If proposals made with specific reference to this subparagraph d) are not 148, agreed upon, neither Buyer nor Seller thay declare this contract null and void, and this contract shall remain 149 in full force and effect. 4150 If Notice of disapproval or proposed modifications is not served within the time specified herein, the 154 provisions of this paragraph shall be deemed waived by the Parties and this Contract shall remain in full force 182 and effect. If Notice of termination is given; said termination shall be absolute and the Contract rendered null 153 and void upon the giving of Notice, notwithstanding any language proffered by any Party purporting to permit 184 unilateral reinstatement by withdrawal of any proposal( (s). 155 11. WAIVER OF PROFESSIONAL INSPECTIONS: [INITIAz IF APPLICABLE] Buyer acknowledges 156 the right to conduct inspections of the Real’Bstaté arid hereby waives the right to conduct any such inspections of 187 the Real Estate, and further agrees that the provisions of Paragra ph 12 shall not apply. 158 12. PROFESSIONAL INSPECTIONS AND INSPECTION NOTICES: INOT APPLICABLE FF PARAGRAPH 11 IS INITIALED} 159 Buyer may conduct at Buyer's expense (unless payment for such expen: se is otherwise required by governmental 160 regulation) any or all of the following inspectionsof the Real Estate by one or more licensed or certified inspection 161 services: home, radon, environmental, lead-baséd paint, lead-based paint hazards or wood-destroying insect 162 infestation, or any other inspections desired by Buyer in the exercise of reasonable due diligence. Seller agrees to 163 make all areas of the Real Estate accessible. for inspection(s) upon reasonable notice and to have all utilities turned 164 on during the time of such inspections. er Shall indemwlify Seller and hold Seller harmless from and against 165 any loss or damage caused by any acts of ju’ - er OF any person performing any inspection on behalf of Buyer. 166 a) The request for repairs shall cover only'the major components of the Real Estate, limited to central heating 167 and cooling system(s), plumbing and well system, electrical system, roof, walls, windows, doors, ceilings, 168 floors, appliances and foundation. A major ‘component shall'be deemed to be in operating condition, and 169 therefore not defective within the meaning of thisis paragraph, ifit does not constitute a current threat to health 170 or safety, and performs the function for which’ itis intended, regardless of age or if itis near or at the end of its 171 useful life. Minor repairs, routine maintenance items and painting, decorating or other items of a cosmetic 172 nature, no matter the cost to remedy same, , do'nct constitute defects, are nota part of this contingency and shall 173 not be a basis for the Buyer to canéel this Contract. A request by Buyer for credits or repairs in violation of 174 the terms of this subparagraph shall all LOW Seller to declare this Contrac t terminated and direct the return 175 of Buyer’s Earnest Money. If radon. miligat io2 vis performed, Seller’ shall pay for any retest. Buyer Initial we Buyer Initial Seller Initial PS Address: 7956 W Golf Dr, Palos Hei it, it 60463 Seller Initial 07.0 Page 4 of 13 a soe — DocuSign Envelope ID: 4A6F7582-F3D8-4B89-9E__ AT6CE8BSSOF2 : DocuSign Envetope ID: ADAB46D5-2ECD-488F-AB47-O5ABA1B4C80C 176 b) Buyer shall serve Notice upon Seller or Seller’ 's attorney of any major component defects disclosed by any 177 inspection for which. Buyer requests tésolut by Seller within five (5) Business Days (ten (10) calendar days 178 for a lead-based paint or lead-based paint ‘d inspection) after Date of Acceptance. Buyer shall not send 179 any portion of the inspection report the Notice provided. under this subparagraph unless such 180 inspection report, or any part thereof, is specifically requested in writing by Seller or Seller's attorney. If 181 after expiration of ten (10) Business Dat after Date of Acceptance written agreement has not been reached by 182 the Parties with respect to resolution all inspection issues, either Party may terminate this Contract by 183 serving Notice to the other Party, whereupon this Contract shall be immediately deemed terminat ed. 184 ¢) Notwithstanding anything to the contrary set forth above in this, paragraph, in the event the inspection 185 reveals that the condition of the Real Estate is unacceptable to Buyer and Buyer serves Notice to Seller within 186 five (6) Business Days after Date of Acceptance, this Contract shall be null and void. Said Notice shall not 187 include any portion of the inspection réports unless requested by Seller. 188 d) Failure of Buyer to conduct said inspection(s) and notify Seller within the time specified operates as a 189 waiver of Buyer's rights to terminat le this, Cantract under this Paragraph 12 and this Contract shall remain 490 in full force and effect. : i 1914 13. HOMEOWNER INSURANCE: This Contract.is contingent upon Buyer obtaining evidence of insurability for an 192 Insurance Service Organization HO-3 or equivalent policy at standard Premium rates within ten (10) Business 193 Days after Date of Acceptance. If Buyeris unable to obtain evidence of insurability and serves Notice with proof 194 of same to Seller within the time specified, this Contract shall be null and void. If Notice is not served within 196 the time specified, Buyer shall be deemed to Rave waived this contingency and this Contract shall remain in 196 fall force and effect. . 197 14. FLOOD INSURANCE: Buyer shall have ‘option to declarthis e Contract null and void if the Real Estate is 198 located in a special flood hazard area.If Noticé of the option to declare contract null and void is not given to 199 Seller within ten (10) Business Days after Date. of ‘Accept ance or by the Loan Contingency Date, whichever is 200 later, Buyer shall be deemed to have waived such option and this Contract shall remain in full force and effect. 201 Nothing herein shall be deemed to affect any, rights afforded by the Residential Real Property Disclosure Act. 18. CONDOMINIUM/COMMON INTEREST ASSOCIATIONS: [IF APPLICABLE] The Parties agree 203 contained in this that the terms paragraph, which may be contrary.to other terms of this Contract, shall superse de any conflicting 204 terms, and shall apply to property subject to-the Minois Condom inium Property Act and the Common Interest 205 Community