Preview
Hearing Date: 8/14/2024 3:00 PM FILED
Location: Court Room 2810 6/11/2024 5:04 PM
Judge: Pedersen, Chloe
IRIS Y. MARTINEZ
CIRCUIT CLERK
COOK COUNTY, IL
IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS 2024CH05512
COUNTY DEPARTMENT, CHANCERY DIVISION Calendar, 63
28072396
U.S. BANK NATIONAL ASSOCIATION, ]
Plaintiff, ] CASE No 2024CH05512
vs.
] Property Address: 11624 S. Harry J.
TIFFANY J. MORGAN; ILLINOIS Rogowski Dr. Merrionette Park, IL 60803
HOUSING DEVELOPMENT
AUTHORITY; UNKNOWN OWNERS ] Calendar
AND NON-RECORD CLAIMANTS; ]
Defendant(s). ]
COMPLAINT TO FORECLOSE MORTGAGE
735 ILCS 5/15-1504(a)(1) through (3)
Plaintiff, U.S. BANK NATIONAL ASSOCIATION, ("Plaintiff") by and through
undersigned counsel, for its Complaint against named Defendants states as follows:
COUNT I
1 Plaintiff files this Complaint to Foreclose the Mortgage hereinafter described and joins
the following persons as Defendants:
A TIFFANY J. MORGAN; ILLINOIS HOUSING DEVELOPMENT AUTHORITY;
UNKNOWN OWNERS AND NON-RECORD CLAIMANTS;
B Plaintiff avers that in addition to person designated by name herein, and the
unknown defendants hereinbefore referred to there are other persons who are
interest in this action and who have or claim some right, title, interest or lien in, to
or upon the real estate sought to be foreclosed in this Complaint; that the name of
each of such other person or persons is unknown to Plaintiff, and on diligent inquiry
cannot be ascertained, and all such persons are hereby made parties Defendants to
6766-203352
this proceeding by the name and description of UNKNOWN OWNERS and NON-
RECORD CLAIMANTS.
2 That attached hereto as Exhibit "A" and incorporated herein is a true copy of said Mortgage.
That attached hereto as Exhibit "B" and incorporated herein is a true copy of the Note secured
thereby.
3 Information concerning said Mortgage attached as Exhibit "A";
A Nature of the Instrument: Mortgage
B Date of the Mortgage: October 22, 2014
Name ofthe Mortgagors: TIFFANY J. MORGAN
Name of the Original Mortgagee: Mortgage Electronic Registration Systems, Inc.,
as mortgagee, as nominee for KEY MORTGAGE SERVICES, INC
Date and place of recording of Mortgage: October 29, 2014 in the office of the
Recorder of Deeds or County Clerk.
Identification of Recording: 1430219052
Interest subject to the Mortgage: Fee Simple
Amount of Original Indebtedness, including advances made under the mortgage:
$105450.00.
Legal Description and common Address of Mortgage Premises:
)) Legal Description: LOT 216 INMAHONEY ESTATES A SUBDIVISION
OF THE NORTH THREE-FOURTHS OF THE WEST HALF OF THE
SOUTHWEST QUARTER OF SECTION 24, TOWNSHIP 31 NORTH,
RANGE 13, EAST OF THE THIRD PRINCIPAL MERIDIAN (EXCEPT
THEREFROM RIGHT OF WAY OF THE CHICAGO AND SOUTHERN
RAILROAD COMPANY) IN COOK COUNTY, ILLINOIS
6766-203352
2) Common Address: 11624 S. Harry J. Rogowski Dr. , Merrionette Park, IL
60803
3) P.I.N.: 24-24-307-034-0000
Statement as to mortgage loan default:
The mortgagor has failed to pay the monthly installments due under the note and
the loan is due for the March 1, 2023 payment. There remains an outstanding
principal balance of $86052.69 plus interest, attorney’s fees, foreclosure costs,
advances and expenses incurred by the plaintiff due to the Mortgagor’s failure to
make payments. Interest accrues at $10.02 per day.
Name of present owners of said premises: TIFFANY J. MORGAN
Names of other persons who are joined as Defendants and whose interest in or lien
on the mortgage real estate is sought to be terminated:
1 Defendant(s), TIFFANY J. MORGAN, may claim an ownership interest in or lien
upon the subject property arising from a WARRANTY DEED recorded as Instrument
number 1430219051, of the Public Records of Cook County, Illinois. This interest is
inferior to Plaintiff's mortgage.
2. Defendant(s), ILLINOIS HOUSING DEVELOPMENT AUTHORITY , may claim
some interest in or lien upon the subject property arising from the mortgage recorded as
Document No. 1430219053 of the Public Records of Cook County, Illinois. This interest
is inferior to Plaintiff's mortgage.
3 Defendant(s), Unknown Owners and non-record claimants may claim some interest
in or lien upon the subject property, this interest is inferior to Plaintiff's interest.
6766-203352
Names of persons claimed to be personally liable for deficiency TIFFANY J.
MORGAN - However, Plaintiff will not seek a personal deficiency against any
party who has been discharged of any personal liability pursuant to the United
States Bankruptcy Code, against any party whose bankruptcy case is still pending
and the Plaintiff has been granted relief from the automatic stay, or against any
party who is protected by the automatic stay provisions of the United States
Bankruptcy Code at the time any foreclosure sale is confirmed.;
Capacity in which Plaintiff brings this suit: The current mortgagee is U.S. BANK
NATIONAL ASSOCIATION. Plaintiff is the holder of the indebtedness based on
the attached Note which has already been duly endorsed and which is incorporated
herein by reference.
Facts in support of request for attorneys’ fees and costs and expenses, if applicable.
Plaintiff
has been required to retain counsel for prosecution of this foreclosure and
to incur substantial attorneys’ fees, court costs, title insurance and other expenses
which should be added to the balance secured by said mortgage.
Plaintiff seeks to terminate the right to possess the mortgage real estate after
confirmation of a foreclosure sale against all defendants who have the right to
possess the property.
REQUEST FOR RELIEF
WHEREFORE, the Plaintiff requests as follows:
1 For Foreclosure of such mortgage and sale;
2 An Order granting a shortened redemption period, if authorized by law;
3 For a personal deficiency judgment against TIFFANY J. MORGAN, only, if
sought;
6766-203352
A judgment for attorney’s fees, costs and expenses;
An Order granting the right to possess the mortgage real estate and terminating such
rights of all defendants who have or claim to have a right to possess the mortgage
real estate;
That this Court take jurisdiction over this matter, enter judgment reforming the
mortgage;
Such other relief as equity may require,
ADDITIONAL REQUEST FOR RELIEF
Plaintiff also requests that the judgment for foreclosure or other orders entered herein
provide for the following pursuant to 735 ILCS 5/15-1506(f).
1 A Sale by auction.
2 A sale by open bid
A Judgment ofthis Court or Sheriff of the County, Intercounty Judicial Sales or
the Judicial Sales corporation, shall conduct the sale.
Title in the real estate may be subject, at the sale, to exceptions including general
real estate taxes for the current year and for the preceding year which have not
become due and payable as of the date of entry of the Judgment of Foreclosure,
any special assessments upon the real estate, and easements of the Judgment of
Foreclosure, any special assessments upon the real estate, and easements and
restrictions of record.
In the event a party to the foreclosure is a successful bidder at the sale, such party
shall be allowed to offset against the purchase price to be paid for such real estate
amounts due such party under the Judgment of Foreclosure or Order confirming
sale.
6766-203352
COUNT II
REFORMATION OF MORTGAGE
Plaintiff realleges paragraphs | through 3 herein above and incorporates the same herein
reference.
4) This is an action seeking equitable relief to reform the incorrect legal description in the
Mortgage recorded as 1430219052 , in the office of the Recorder of Deeds or County Clerk of
Cook County, Illinois.
5 The Mortgage currently contains the following legal description which is incorrect
LOT 216 IN MAHONEY ESTATES A SUBDIVISION OF THE NORTH
THREEa~€FOURTHS OF THE WEST HALF OF THE SOUTHWEST
QUARTER OF SECTION 24, TOWNSHIP 31 NORTH, RANGE 13, EAST OF
THE THIRD PRINCIPAL MERIDIAN (EXCEPT THEREFROM RIGHT OF
WAY OF THE CHICAGO AND SOUTHERN RAILROAD COMPANY) IN
COOK COUNTY, ILLINOIS
The Mortgage should contain the following correct legal description:
LOT 216 IN MAHONEY ESTATES A SUBDIVISION OF THE NORTH
THREE-FOURTHS OF THE WEST HALF OF THE SOUTHWEST QUARTER
OF SECTION 24, TOWNSHIP 31 NORTH, RANGE 13, EAST OF THE THIRD
PRINCIPAL MERIDIAN (EXCEPT THEREFROM RIGHT OF WAY OF THE
CHICAGO AND SOUTHERN RAILROAD COMPANY) IN COOK COUNTY,
ILLINOIS
6766-203352
7
The borrower(s) and Originating Lender intended the Mortgage to encumber the
correct legal description, and but for the mutual mistake the Mortgage would contain the
correct legal description.
WHEREFORE, Plaintiff prays that the mortgage be reformed to correct the legal
description as described above, and that Plaintiff the granted such other and further relief as is
just and equitable.
i th
{ tA 6-4-2024
By
One of its Attorneys Date
Diaz Anselmo & Associates, LLC Stacia E. Peterson
Attorneys for Plaintiff Associ: Attomey, A IC #6319430
1771 West Diehl Road, Suite 120 Diaz Anselmo & Associates LLC
Naperville, IL 60563
Telephone: (630) 453-6960
Facsimile: (630) 428-4620
Attorney No. Cook 64727, DuPage 293191
Service E-mail: midwestpleadings@dallegal.com
THIS LAW FIRM IS DEEMED TO BE A DEBT COLLECTOR
6766-203352
o BXHIBIT A
y 1 1 ° ~
'
Illinois Anti-Predatory
tending Database MTOM ‘
Program ' Doc#: 1430219052 Fee: $68.00
_ RHSP Fee:$9.00 RPAF Fee: $1.00
Karen A.Yarbrough
Certificate of Compliance ! Cook County Recorder of Deeds
Date: 10/29/2014 10:45 AM Pg: 1 of 16 ,
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Report Mortgage Fraud
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The property identified as:
Address:
Street: 11624 S. HARRY J. ROGOWSKI DR
Street line 2:
City: MERRIONETTE PARK State: IL ZIP Code: 60803
Lender. Key Mortgage Services, Inc.
Borrower: Tiffany J Morgan
Loan / Mortgage Amount: $105,450.00
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.
STEWART TI
800 &. DIEHL ROAD
SUITE 180
NAPERVILLE, iL 60563
Execution date: 10/22/2014
When recorded, return to:
Key Mortgage Services, Inc.
Attn: Final Document Department
475 N. Martingale Rd. Suite 925
Schaumburg, IL 60173
123-456-4899
This instrument was prepared by:
Randy Atut, Closer
Key Mortgage Services, Inc.
475 North Martingale Road, Suite 925
Schaumburg, IL 60173
847-493-5106
Title Order No.: Hl
LOAN #:
[Space Above This Line For Recording Data]
MORTGAGE
MER: 1377
DEFINITIONS
Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13,
18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16.
(A) “Security Instrument” means this document, which is dated October 22, 2014, together with all
Riders to this document.
(B) “Borrower” is TIFFANY J MORGAN, A SINGLE WOMAN.
.
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.
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MERS is organized and existing under the laws of Delaware, and has an address and telephone number of
2026, Flint, Ml 48501-2026, tel. (888) 679-MERS.
LOAN #:
—_
(D) “Lender” is Key Mortgage Services, Inc..
Lender is a Corporation, organized and existing under the laws of
Illinois. Lender's address is 475 North Martingale Road,
Suite 925, Schaumburg, IL 60173
(E) “Note” means the promissory note signed by Borrower and dated
October 22, 2014. The Note
states that Borrower owes Lender ONE HUNDRED FIVE THOUSAND FOUR HUNDRED FIFTY AND NO/100* ****
EEE EEE EEE EERE EER EERE Dollars (U.S. $105,450.00 )
plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later
than November 1, 2044.
(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, any prepayment charges and 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]:
CO Adjustable Rate Rider Condominium Rider O) Secand Home Rider
0 Balloon Rider CO Planned Unit Development Rider &) Other(s) [specify]
0 1-4 Family Rider CO Biweekly Payment Rider Fixed Interest Rate Rider, IHDA
OVA. Rider Mortgage Rider
(1) “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
(i) 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 (24 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 restrictions 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) “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.
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Loan #:
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Laan, 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 follawirig described property located
inthe County [Type of Recording Jurisdiction] of Cook
{Name of Recording Jurisdiction}:
SEE LEGAL DESCRIPTION ATTACHED HERETO AND MADE A PART HEREOF AS "EXHIBIT A”.
APN #: 24-24-307-034-0000
which currently has the address of 11624 S Harry J Rogowski Dr, Merrionette Park,
[Street] (City)
Illinois 60803 (“Property Address’):
[Zip Code]
TOGETHER WITH all the improvements now or hereafter erected on the property, and alleasements, appurtenances,
and fixtures now or hereaftera 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
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, Prepayment Charges, and Late Charges. Borrower shall pay
when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges 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 15. Lender may return any
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.
payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. ‘= 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 earlier, 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: {a} interest due under the Note; (b) principal
due under the Note; (c) amounts due under Section 3. Such payments shail be applied to each Periodic Payment in the
order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts
due under this Security Instrument, and then to reduce the principal balance of the Note.
If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount
to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than
one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the
Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after
the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late
charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in 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, if any, or any sums payable by Borrower to Lender in lieu of
the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. 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 shail 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 notice given in accordance with Section 15 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
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an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be
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 accafdance 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 thé 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 ail 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
ac Borrawer is performing such agreement; (b) contests the lion 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 pact
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 licn or take
‘one or more of the actions set forth above in this Section 4.
Lender may require Borrowerto pay a one-time charge fora real estate tax verification and/or reporting service used
by Lender in connection with this Loan.
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 tic!uding 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 roquire Borrower to pay, in ceAnéection with this Loan, cither: (a) a one time charge for flood
zone determination, certification and tracking services; or {) 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
caverage. Therefore, such caverage shall caver 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 hecome additional debt of Borrower secured by this Security Instriiment These amaunts 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
an 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
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of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such pi
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, uniess Lender otherwise agrees in writing, which consent
shall not be unreasonably withheld, 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. Whether or not Borrower is residing
in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value
due to its condition. Unless it 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 insurance or
condemnation proceeds are paid in connection with damage to, or the taking of, 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 restorc the Property, Borrower is not relieved of Borrower's
obligation for the completion of such repair or restoration.
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, misleading, or inaccurate information or statements to Lendcr (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
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this, Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or!
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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 watcr 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. If 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. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall
pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance
coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance
and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,
Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance
previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in
Cffcct, from an alternate mortgage insurer sclected by Lender. If substantially equivalent Mortgage Insurance coverage
is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due
when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable
loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non refundable, notwithstanding the fact that the
Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss
rescrve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for
the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and
Lender requires separately designated payments t