Preview
Hearing Date: 8/12/2024 2:00 PM
Location: Court Room 2809
Judge: Brooks, Lloyd James
FILED
6/11/2024 6:20 PM
IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS IRIS Y. MARTINEZ
CIRCUIT CLERK
COUNTY DEPARTMENT - CHANCERY DIVISION COOK COUNTY, IL
2024CH05513
U.S. BANK NATIONAL ASSOCIATION Calendar, 57
28073274
PLAINTIFF, CASE NO.:2024CH05513
Vv. JUDGE:
XUE LI; GREENVIEW PASSAGE PROPERTY ADDRESS:
CONDOMINIUM ASSOCIATION; 2730 N GREENVIEW AVENUE UNIT M
UNKNOWN OWNERS AND CHICAGO, IL 60614
NON-RECORD CLAIMANTS,
DEFENDANTS.
COMPLAINT TO FORECLOSE MORTGAGE
For its Complaint Plaintiff says:
1 Plaintiff, U.S. BANK NATIONAL ASSOCIATION, files this Complaint to foreclose the
mortgage, trust deed or other conveyance in the nature of a mortgage ("Mortgage”)
hereinafter described, pursuant to 735 ILCS 5/15-1101 et. seq. of the Illinois Code of
Civil Procedure, and joins the persons named in the caption as Defendants:
XUE LI; GREENVIEW PASSAGE CONDOMINIUM ASSOCIATION; UNKNOWN
OWNERS AND NON-RECORD CLAIMANTS
Attached as "Exhibit A" is a true copy of the Mortgage which has been modified to redact
certain Non-Public Personal Information (“PI”) from the exhibit. Attached as "Exhibit B"
is a true copy of the Note secured thereby which has been modified to redact certain PI
from the exhibit.
3. Information concerning said Mortgage:
(a) Nature of the instrument: Mortgage.
(b) Date of Mortgage: 8/10/2016
(c) Name of the mortgagors: QI LI (DECEASED) AND XUE LI
(d) Name of the mortgagee: MORTGAGE ELECTRONIC REGISTRATION
SYSTEMS, INC., AS MORTGAGEE, AS NOMINEE FOR CALIBER HOME
LOANS INC.
(e) Date of Recording and place of recording: 9/23/2016 in the Cook County
Recorder of Deeds Office
(f) Identification of Recording: Document No. 1626750019
(g) Interest Subject to the mortgage: Fee Simple
(h) Amount of Original Indebtedness, including subsequent advances made under the
mortgage: $410,000.00
(i) Legal description of mortgaged real estate:
UNIT NUMBER "BN-6" IN GREENVIEW PASSAGE CONDOMINIUM AS
DELINEATED ON A SURVEY OF THE FOLLOWING DESCRIBED REAL
ESTATE:
PARTS OF BLOCKS 6, 7 AND 8 OF BLOCK 45 IN SHEFFIELD'S ADDITION
TO CHICAGO IN SECTION 29, TOWNSHIP 40 NORTH, RANGE 14, EAST
OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS;
WHICH SURVEY IS ATTACHED AS EXHIBIT "A" TO THE DECLARATION
OF CONDOMINIUM RECORDED AS DOCUMENT NUMBER 87307714,
TOGETHER WITH ITS UNDIVIDED PERCENTAGE INTEREST IN THE
COMMON ELEMENTS, IN COOK COUNTY, ILLINOIS.
COMMON ADDRESS:
2730 N GREENVIEW AVENUE UNIT M
CHICAGO, IL 60614
Tax ID# 14-29-301-076-1023
@) Statement as to Defaults:
After all payments received have been applied, mortgagors are now in default for
the monthly payments of principal and interest; and taxes, advances and
insurance, if any, for November 01, 2023 through the present; the principal and
balance due on the note and mortgage is $353,688.73, plus interest, costs and fees,
and advances if any, made by the plaintiff. Interest accrues pursuant to the terms
of the note. The current per diem is $40.70.
(k) Name of present owner(s) of the real estate:
XUE LI
Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois
cookcountyclerkofcourt.org
(1) Names of other persons who are joined as defendants and whose interest in or lien
on the mortgaged real estate is sought to be terminated
Defendant, GREENVIEW PASSAGE CONDOMINIUM ASSOCIATION, has or
may claim an interest in the subject real estate by virtue of DECLARATION OF
CONDOMINIUM recorded in COOK County, IL on 6/5/1987 as Document
Number #87307714. Plaintiff states that said interest is subordinate and inferior to
the lien of the plaintiff.
(m) Names of defendants claimed to be personally liable for deficiency unless
personal liability is discharged in a Bankruptcy proceeding, or otherwise released:
None
(n) Capacity in which plaintiff brings this foreclosure:
Plaintiff is the legal holder of the indebtedness secured by the mortgage
being foreclosed herein.
(0) Facts in support of a request for attorneys’ fees and of costs and expenses, if
applicable:
The subject mortgage provides for the recovery of attorney fees, court costs, and
expenses in the event of a default under the terms of the mortgage.
4. Plaintiff alleges that in addition to persons designated by name herein and the Unknown
Defendants referred to above, there are other persons, and/or non-record claimants who
are interested in this action and who have or claim some right, title, interest or lien in, to
or upon the real estate, or some part thereof, in this Complaint described, including but
not limited to the following Unknown Owners and Non-Record Claimants.
That the name of each of such persons is unknown to the Plaintiff and on diligent inquiry
cannot be ascertained, and all such persons are therefore made party defendants to this
action by the name and description of UNKNOWN OWNERS and NON-RECORD
CLAIMANTS.
That should a deficiency result from the foreclosure sale of the subject property, Plaintiff
may seek an In Personam or an In Rem deficiency judgment unless the defendant(s)
which are liable on the subject mortgage note have had personal liability on said note
discharged in a Bankruptcy proceeding or if said liability has been otherwise discharged
or released.
That should the subject property be vacant, the Plaintiff may seek to have the Court find
that the property is abandoned pursuant to 735 ILCS 5/15-1603, Illinois Code of Civil
Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois
cookcountyclerkofcourt.org
Procedure.
7. That the Plaintiff may seek appointment of Mortgagee in Possession or appointment of
receiver.
WHEREFORE, PLAINTIFF REQUESTS:
1 A Judgment of Foreclosure and Sale.
2 A Judgment for attorney's fees, costs and expenses.
An Order Approving the Foreclosure Sale and an Order granting possession.
An In Personam or an In Rem Deficiency Judgment, if sought, unless
defendant(s) have had personal liability on the subject mortgage note
discharged in a Bankruptcy proceeding, or otherwise released.
An order granting a shortened redemption period, if sought.
Appointment of Mortgagee in Possession or Receiver, if sought.
Such other and further relief as the Court deems just.
U.S. BANK NATIONAL ASSOCIATION
By:_/s/Christopher Schott
6/10/2024 | ARDC No. 6336722
Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois
cookcountyclerkofcourt.org
Robertson Anschutz Schneid Crane & Partners, PLLC
Attorney for Plaintiff
205 N. Michigan Avenue Suite 810
Chicago, Illinois 60601
Phone: (561) 241-6901
E-mail: [Lmail@raslg.com
Pursuant to IL Supreme Court Rule 11 electronic mail (e-mail) notice shall be sent to
ILmail@raslg.com.
THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFORMATION
OBTAINED WILL BE USED FOR THAT PURPOSE.
Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois
ookcountyclerkofcourt.org
oN, ||
Exhibit A
Illinois Anti-Predatory
Lending Database
Program
Certificate of Compliance |
|
|
a
Doc# 16267500 19 Fee
RHSP Fee:$9,00RPI $74.00
AF Fee $1.00
|
NORTH AMERICAN |
Karen A. Yarbrough
Cook County Record
er of Deeds
Date: 09/29/2016
| 07:43 AM Pg: 1 of
TITLE COMPANY |
19
a |
Report Mortgage Fraud
800-532-8785
The property identified as: PIN: 14-29-301-076-1023
Address:
Street: 2730 N GREENVIEW AVE
Street line 2: M
City: CHICAGO State: IL ZIP Code: 60614
Lender, CALIBER HOME LOANS, INC,
Borrower; QiLi AND XUE LI
Loan / Mortgage Amount: $410,000.00
Pursuant to 765 ILCS 77/70 et seq., this Certificate authorizes the County Recorder of Deeds to record a residential
mortgage secured by this property and, if applicable, a simultaneously dated HELOC.
Certificate number: 804479CA-D984-4F2B-90EE-C332453EE9BF Execution date: 8/10/2016
Iq
After Recording Return To:
SECURITY CONNECTIONS, INC. ON
BEHALF OF CALIBER HOME LOANS
240 TECHNOLOGY DRIVE
IDAHO FALLS, ID 83401
This Instrument was prepared by:
CALIBER HOME LOANS, INC.
3701 REGENT BLVD., SUITE 180
IRVING, TX 75063
[Space Above This Line For Recording Data]
—
Loan Number
‘RS Number
MORTGAGE
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 AUGUST 10, 2016, together with all
Riders to this document.
(B) "Borrower" is QI LI AND XUE LI, HUSBAND AND WIFE. Borrower is the mortgagor under this
Security Instrument.
«C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is
acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this
Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and
telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS.
(D) "Lender" is CALIBER HOME LOANS, INC.. Lender is a CORPORATION organized and existing
‘under the laws of DELAWARE. Lender's address is 3701 REGENT BLVD., SUITE 180, IRVING, TX
75063.
() "Note" means the promissory note signed by Borrower and dated AUGUST 10, 2016. The Note states
that Borrower owes Lender FOUR HUNDRED TEN THOUSAND AND 00/100THS Dollars (U.S.
$410,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the
debt in full not later than SEPTEMBER 01, 2046,
®) "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.
(A) "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]:
ILLINOIS~Singic Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page
1 of 13 pages)
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1 Adjustable Rate Rider & Condominium Rider O Second Home Rider
O Balloon Rider O Planned Unit Development Rider D Biweekly Payment Rider
0 1-4 Family Rider OV.A. Rider O Manufactured Home Rider
O Leasehold Rider D Revocable Trust Rider EX Fixed Rate Rider
wo “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.
wo "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.
(x) "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.
() "Escrow Items" means those items that are described in Section 3,
(™) "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.
(0) “Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the
Note, plus (ii) any amounts under Section 3 of this Security Instrument.
@) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. .§ 2601 et seq.) and its
implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or
any additional or successor legislation or regulation that governs the same subject matter. As used in this
Security Instrument, "RESPA" refers to all requirements and 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.
TRANSFER OF RIGHTS IN THE PROPERTY
This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and
modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security
Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely
as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS the
following described property located in the ___County _ [Type of Recording Jurisdiction] of Cook
[Name of Recording Jurisdiction):
ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 2 of 13 pages)
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LEGAL DESCRIPTION ATTACHED HERETO AND MADE PART HEREOF
which currently has the address of 2730 NGREENVIEW AVE UNIT M
Street]
CHICAGO » Illinois 60614-1131 ("Property Address"):
[City] [Zip Code]
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements,
appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be
covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the
"Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by
Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for
Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but
not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including,
but not limited to, releasing and canceling this Security Instrument.
BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the
right to mortgage, grant and convey the Property and that the Property is unencumbered, except for
encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims
and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform
covenants with 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 payment or partial payment if the payment or partial payments are insufficient to bring the Loan
current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without
waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future,
but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic
Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender
may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not
do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not
applied 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 shall be applied to each
Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late
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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 shall be an Escrow Item. Borrower shall promptly furnish to
Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow
Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may
waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver
may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the
amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender
requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may
require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed
to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is
used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower
fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such
amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may
revoke the waiver as to any or all Escrow Items at any time by a 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 an agreement is made in writing or Applicable Law requires
interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the
Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender
shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA.
If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower
for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under
RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount
ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page4 of 13 pages)
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necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If
there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required
by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance
with RESPA, but in no more than 12 monthly payments.
Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to
Borrower any Funds held by Lender.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable
to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the
Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these
items are Escrow Items, Borrower shall pay them in the manner provided in Section 3.
Borrower shall promptly discharge any lien which has priority over this Security Instrument unless
Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or
defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the
enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or
(c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security
Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over
this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on
which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in
this Section 4.
Lender may require Borrower to pay a one-time charge for a 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 (including deductible levels) and for the periods that Lender
requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan.
The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to
disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to
pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and
tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent
charges cach time remappings or similar changes occur which reasonably might affect such determination or
certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency
Management Agency in connection with the review of any flood zone determination resulting from an objection
by Borrower.
If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance
coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular
type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect
Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability
and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost
of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have
obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower
secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of
disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment.
All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right
to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee
and/or as 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 of insurance coverage, not otherwise required by Lender, for damage to, or
ILLINOIS-—Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 5 of 13 pages)
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destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as
mortgagee and/or as an additional loss payee.
In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may
make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing,
any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to
restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is
not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance
proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to
Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds
for the repairs and restoration in a single payment or in a series of progress payments as the work is completed.
Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance
proceeds, Lender shall not be required to pay Borrower any interest or earings 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 refimd of unearned premiums paid by Borrower) under all insurance policies covering the
Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance
proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security
Instrument, whether or not then due.
6. Occupancy, Borrower shall occupy, establish, and use the Property as Borrower's principal residence
within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as
Borrower's principal residence for at least one year after the date of occupancy, unless Lender 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 restore 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 Lender (or failed to provide Lender
ILLINOIS--Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 6 of 13 pages)
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with material information) in connection with the Loan. Material representations include, but are not limited to,
representations concerning Borrower's occupancy of the Property as Borrower's principal residence.
9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)
Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal
proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security
Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a
lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower
has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect
Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing
the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not
limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing
in court; and (c) paying reasonable attorneys’ fees to protect its interest in the Property and/or rights under this
Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes,
but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and
windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have
utilities tured 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. 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 effect, from an alternate mortgage insurer selected 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 shali not be required to pay Borrower any interest or earnings on such loss
reserve. 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 toward the premiums for Mortgage Insurance. If
Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make
separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums
required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's
requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and
Lender providing for such termination or until termination is required by Applicable Law. Nothing in this
Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note.
Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may
incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance.
Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter
into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on
terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these
ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 7 of 13 pages)
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agreements. These agreements may require the mortgage insurer to make payments using any source of funds
that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance
premiums).
As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any
other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from
(or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing
or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of
Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the
arrangement is often termed "captive reinsurance." Further:
(a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage
Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will
owe for Mortgage Insurance, and they will not entitle Borrower to any refund.
(b) Any such agreements will not affect the rights Borrower has - if any - with respect to the
Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may
include the right to receive certain disclosures, te request and obtain cancellation of the Mortgage
Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any
Mortgage Insurance premiums that were unearned at the time of such cancellation or termination.
11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby
assigned to and shall be paid to Lender.
If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the
Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such
repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has
had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,
provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a
single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made
in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be
required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is
not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to
the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower.
Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2.
In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds
shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,
paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value
of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the
amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or
Joss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security
Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction:
(a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value
divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in
value. Any balance shall be paid to Borrower.
In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value
of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the
sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender
otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security
Instrument whether or not the sums are then due.
If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing
Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to
respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the
Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security
ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 8 of 13 pages)
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Instrument, whether or not then due. "Opposing Party” means the third party that owes
Preview
Hearing Date: 8/12/2024 2:00 PM Location: Court Room 2809 Judge: Brooks, Lloyd James FILED 6/11/2024 6:20 PM IN THE CIRCUIT COURT OF COOK COUNTY, ILLINOIS IRIS Y. MARTINEZ CIRCUIT CLERK COUNTY DEPARTMENT - CHANCERY DIVISION COOK COUNTY, IL 2024CH05513 U.S. BANK NATIONAL ASSOCIATION Calendar, 57 28073274 PLAINTIFF, CASE NO.:2024CH05513 Vv. JUDGE: XUE LI; GREENVIEW PASSAGE PROPERTY ADDRESS: CONDOMINIUM ASSOCIATION; 2730 N GREENVIEW AVENUE UNIT M UNKNOWN OWNERS AND CHICAGO, IL 60614 NON-RECORD CLAIMANTS, DEFENDANTS. COMPLAINT TO FORECLOSE MORTGAGE For its Complaint Plaintiff says: 1 Plaintiff, U.S. BANK NATIONAL ASSOCIATION, files this Complaint to foreclose the mortgage, trust deed or other conveyance in the nature of a mortgage ("Mortgage”) hereinafter described, pursuant to 735 ILCS 5/15-1101 et. seq. of the Illinois Code of Civil Procedure, and joins the persons named in the caption as Defendants: XUE LI; GREENVIEW PASSAGE CONDOMINIUM ASSOCIATION; UNKNOWN OWNERS AND NON-RECORD CLAIMANTS Attached as "Exhibit A" is a true copy of the Mortgage which has been modified to redact certain Non-Public Personal Information (“PI”) from the exhibit. Attached as "Exhibit B" is a true copy of the Note secured thereby which has been modified to redact certain PI from the exhibit. 3. Information concerning said Mortgage: (a) Nature of the instrument: Mortgage. (b) Date of Mortgage: 8/10/2016 (c) Name of the mortgagors: QI LI (DECEASED) AND XUE LI (d) Name of the mortgagee: MORTGAGE ELECTRONIC REGISTRATION SYSTEMS, INC., AS MORTGAGEE, AS NOMINEE FOR CALIBER HOME LOANS INC. (e) Date of Recording and place of recording: 9/23/2016 in the Cook County Recorder of Deeds Office (f) Identification of Recording: Document No. 1626750019 (g) Interest Subject to the mortgage: Fee Simple (h) Amount of Original Indebtedness, including subsequent advances made under the mortgage: $410,000.00 (i) Legal description of mortgaged real estate: UNIT NUMBER "BN-6" IN GREENVIEW PASSAGE CONDOMINIUM AS DELINEATED ON A SURVEY OF THE FOLLOWING DESCRIBED REAL ESTATE: PARTS OF BLOCKS 6, 7 AND 8 OF BLOCK 45 IN SHEFFIELD'S ADDITION TO CHICAGO IN SECTION 29, TOWNSHIP 40 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS; WHICH SURVEY IS ATTACHED AS EXHIBIT "A" TO THE DECLARATION OF CONDOMINIUM RECORDED AS DOCUMENT NUMBER 87307714, TOGETHER WITH ITS UNDIVIDED PERCENTAGE INTEREST IN THE COMMON ELEMENTS, IN COOK COUNTY, ILLINOIS. COMMON ADDRESS: 2730 N GREENVIEW AVENUE UNIT M CHICAGO, IL 60614 Tax ID# 14-29-301-076-1023 @) Statement as to Defaults: After all payments received have been applied, mortgagors are now in default for the monthly payments of principal and interest; and taxes, advances and insurance, if any, for November 01, 2023 through the present; the principal and balance due on the note and mortgage is $353,688.73, plus interest, costs and fees, and advances if any, made by the plaintiff. Interest accrues pursuant to the terms of the note. The current per diem is $40.70. (k) Name of present owner(s) of the real estate: XUE LI Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois cookcountyclerkofcourt.org (1) Names of other persons who are joined as defendants and whose interest in or lien on the mortgaged real estate is sought to be terminated Defendant, GREENVIEW PASSAGE CONDOMINIUM ASSOCIATION, has or may claim an interest in the subject real estate by virtue of DECLARATION OF CONDOMINIUM recorded in COOK County, IL on 6/5/1987 as Document Number #87307714. Plaintiff states that said interest is subordinate and inferior to the lien of the plaintiff. (m) Names of defendants claimed to be personally liable for deficiency unless personal liability is discharged in a Bankruptcy proceeding, or otherwise released: None (n) Capacity in which plaintiff brings this foreclosure: Plaintiff is the legal holder of the indebtedness secured by the mortgage being foreclosed herein. (0) Facts in support of a request for attorneys’ fees and of costs and expenses, if applicable: The subject mortgage provides for the recovery of attorney fees, court costs, and expenses in the event of a default under the terms of the mortgage. 4. Plaintiff alleges that in addition to persons designated by name herein and the Unknown Defendants referred to above, there are other persons, and/or non-record claimants who are interested in this action and who have or claim some right, title, interest or lien in, to or upon the real estate, or some part thereof, in this Complaint described, including but not limited to the following Unknown Owners and Non-Record Claimants. That the name of each of such persons is unknown to the Plaintiff and on diligent inquiry cannot be ascertained, and all such persons are therefore made party defendants to this action by the name and description of UNKNOWN OWNERS and NON-RECORD CLAIMANTS. That should a deficiency result from the foreclosure sale of the subject property, Plaintiff may seek an In Personam or an In Rem deficiency judgment unless the defendant(s) which are liable on the subject mortgage note have had personal liability on said note discharged in a Bankruptcy proceeding or if said liability has been otherwise discharged or released. That should the subject property be vacant, the Plaintiff may seek to have the Court find that the property is abandoned pursuant to 735 ILCS 5/15-1603, Illinois Code of Civil Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois cookcountyclerkofcourt.org Procedure. 7. That the Plaintiff may seek appointment of Mortgagee in Possession or appointment of receiver. WHEREFORE, PLAINTIFF REQUESTS: 1 A Judgment of Foreclosure and Sale. 2 A Judgment for attorney's fees, costs and expenses. An Order Approving the Foreclosure Sale and an Order granting possession. An In Personam or an In Rem Deficiency Judgment, if sought, unless defendant(s) have had personal liability on the subject mortgage note discharged in a Bankruptcy proceeding, or otherwise released. An order granting a shortened redemption period, if sought. Appointment of Mortgagee in Possession or Receiver, if sought. Such other and further relief as the Court deems just. U.S. BANK NATIONAL ASSOCIATION By:_/s/Christopher Schott 6/10/2024 | ARDC No. 6336722 Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois cookcountyclerkofcourt.org Robertson Anschutz Schneid Crane & Partners, PLLC Attorney for Plaintiff 205 N. Michigan Avenue Suite 810 Chicago, Illinois 60601 Phone: (561) 241-6901 E-mail: [Lmail@raslg.com Pursuant to IL Supreme Court Rule 11 electronic mail (e-mail) notice shall be sent to ILmail@raslg.com. THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. Iris Y. Martinez, Clerk of the Circuit Court of Cook County, Illinois ookcountyclerkofcourt.org oN, || Exhibit A Illinois Anti-Predatory Lending Database Program Certificate of Compliance | | | a Doc# 16267500 19 Fee RHSP Fee:$9,00RPI $74.00 AF Fee $1.00 | NORTH AMERICAN | Karen A. Yarbrough Cook County Record er of Deeds Date: 09/29/2016 | 07:43 AM Pg: 1 of TITLE COMPANY | 19 a | Report Mortgage Fraud 800-532-8785 The property identified as: PIN: 14-29-301-076-1023 Address: Street: 2730 N GREENVIEW AVE Street line 2: M City: CHICAGO State: IL ZIP Code: 60614 Lender, CALIBER HOME LOANS, INC, Borrower; QiLi AND XUE LI Loan / Mortgage Amount: $410,000.00 Pursuant to 765 ILCS 77/70 et seq., this Certificate authorizes the County Recorder of Deeds to record a residential mortgage secured by this property and, if applicable, a simultaneously dated HELOC. Certificate number: 804479CA-D984-4F2B-90EE-C332453EE9BF Execution date: 8/10/2016 Iq After Recording Return To: SECURITY CONNECTIONS, INC. ON BEHALF OF CALIBER HOME LOANS 240 TECHNOLOGY DRIVE IDAHO FALLS, ID 83401 This Instrument was prepared by: CALIBER HOME LOANS, INC. 3701 REGENT BLVD., SUITE 180 IRVING, TX 75063 [Space Above This Line For Recording Data] — Loan Number ‘RS Number MORTGAGE 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 AUGUST 10, 2016, together with all Riders to this document. (B) "Borrower" is QI LI AND XUE LI, HUSBAND AND WIFE. Borrower is the mortgagor under this Security Instrument. «C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS. (D) "Lender" is CALIBER HOME LOANS, INC.. Lender is a CORPORATION organized and existing ‘under the laws of DELAWARE. Lender's address is 3701 REGENT BLVD., SUITE 180, IRVING, TX 75063. () "Note" means the promissory note signed by Borrower and dated AUGUST 10, 2016. The Note states that Borrower owes Lender FOUR HUNDRED TEN THOUSAND AND 00/100THS Dollars (U.S. $410,000.00) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than SEPTEMBER 01, 2046, ®) "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. (A) "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]: ILLINOIS~Singic Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 1 of 13 pages) ee 1 Adjustable Rate Rider & Condominium Rider O Second Home Rider O Balloon Rider O Planned Unit Development Rider D Biweekly Payment Rider 0 1-4 Family Rider OV.A. Rider O Manufactured Home Rider O Leasehold Rider D Revocable Trust Rider EX Fixed Rate Rider wo “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. wo "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. (x) "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. () "Escrow Items" means those items that are described in Section 3, (™) "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. (0) “Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument. @) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. .§ 2601 et seq.) and its implementing regulation, Regulation X (12 C.F.R. Part 1024), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and 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. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS the following described property located in the ___County _ [Type of Recording Jurisdiction] of Cook [Name of Recording Jurisdiction): ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 2 of 13 pages) ee LEGAL DESCRIPTION ATTACHED HERETO AND MADE PART HEREOF which currently has the address of 2730 NGREENVIEW AVE UNIT M Street] CHICAGO » Illinois 60614-1131 ("Property Address"): [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with 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 payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied 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 shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late ILLINOIS-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 3 of 13 pages) ee 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 shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a 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 an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page4 of 13 pages) ee necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a 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 (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges cach time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as 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 of insurance coverage, not otherwise required by Lender, for damage to, or ILLINOIS-—Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 5 of 13 pages) re destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earings 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 refimd of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy, Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender 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 restore 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 Lender (or failed to provide Lender ILLINOIS--Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 6 of 13 pages) ee with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys’ fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities tured 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. 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 effect, from an alternate mortgage insurer selected 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 shali not be required to pay Borrower any interest or earnings on such loss reserve. 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 toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 7 of 13 pages) ee agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, te request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or Joss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security ILLINOIS-Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3014 1/01 (page 8 of 13 pages) ee Instrument, whether or not then due. "Opposing Party” means the third party that owes