Exhibit 1

RBS Citizens, N.A. v. Tayyab Cab Corporation et al Doc. 19 Att. 1

Dockets.Justia.com

g Charter One®

MODIFICATI.ONIEXTENSION AGREEMENT TO COMMERCIAL UNE NOTE

This MODtFtCATIONIEXTENSIO.N AGREEMENTis entered 'illlo at Providence* Rhode I stand, as

of Ob - .dJ· 6 - , 2012, between Tayyab Cab Corp .• _ an IUifl(ri$ corporation, with an

address of2231 South wabash Avenue. Chicago; Illinois 80616 (the "8orrowet1 and Charter One, a

division of Ras Citizens. N.A.,, a national banking association with an aqdress of One Cltizens Plaza,

Providence, Rhode Island 02903. (the JtBank',), successor to Charter One Bank, .N.A (collectively, ''the

Bank").

WHEREASl the Bank has made a loan to the BorrQWer in tOe original pril}Ci~t amount of $1001000.00 (the "Loan"};

WHEREAS, the Loan is evidenced by that certain Coml11&rCial Line No~ dated Aprll 14, ~006 {as previously amended, modifted .or supplemented, ~ ''N~t), by th& Borrower ln·favor of the· Bank in the original principal amount of$100,noo.oo which matures on December 14, 2020 (the ·~atuoty [){ate");

WHEREAS~ In connection with the. LoJn; B«roWE~r enter~ irtto that ~rtatn Susin•·loan and Security Agreement, dated ~ptil14t ~- (a$ pre~ iill:n~nded, rng,qiflefj or supplemented, thf.l "Loan Agreemenf'};

WHEREAS. asturtn.,-·s$Cl.U'Ity f9r the .l~$rl, the Sank has P&~. gcanteJ;t a Mortgag~ dated April a 2.011 and. recQrded at th~ Qgok C<>unty R•rd$1" of Qeeds "t. Doc #1'1231220ae (as preViously amended, modified or suppletjl$1~, .ttt• "'175 $riQom Lane Mortgage"}, giVen by ~ohammad. Attafand encumbering certajn real property I~ at.17~ (lrlsaotp LlOe, H'Oifrna.r, E&ta-. IIJinoJs 801• (the "175 Grissom l~e Real Pf'9~);

WHEREAS~ as ftl~r.~r1ty for ,the loan. ~hammad .J\Itaf:i$$Jeq~ a guatanty, datea April14t 2006 (as previously ~n<:iect~ mOdified or ~pplelll$1ted, the uMotrammaij Altaf Guaratlty"), pursuant to which Mottamrnad Attaf guaranteed tQ th~ Q:lan,k ·ttte ptwlnfiM'tt ·~()d perform~ of' all of the Bortowet's obtigaljons With respect to the L®n ~ the otner L4aoi3Qc.v~ts (as h~rainafter defirted~;

WHEREAS •. the Loan A,gr~m~lnt. the 175 .Grissom La® MOrtgage, the Note and the Mohammad AJtaf Guaranty and. aJI other ~1'1)8(lts and Jnstruments" executed m ebnrtection wtth or retatin9 to th& LQEin are re{erred to h$ein. eoltectiV$ty, as the "loan Qpeul'tt$hts'-~. and the 176. Grissom Lane Real Property and an Othet" coUateraf grantecfto th• B$nk to secure the Loan is reterre<~ tc hereih1 coUectively. as the "Colla~rat';

WHEREAS, the Bank iS. th~ .SO'eee$$Of in intetest 1o Predecessor with respect to the Loan and the loan ~uments, i$ the <>Wnet i!l1d 'holdef of :the toan and the: loan Documents and, as such~ the Borrower is indebted to tne, Bank thetefor and tneteui:ldet;

WHEREAS; the Borrawer has requuted and the Bank nassgreed to extend the Maturity Date of the loan;

WHEREAS, the Borrower has requested and the Bank has agreed to change the payment schedule applicabfe to the loan; ~ ·

WHEREAS, the Borrower and the aank f.\ave .agreed to modifY the l,.oan and the loan Documents in accordance wifh the terms of this Agreement

NOW THEREFORE~ ·for good and·vatuable consideration, the receipt and Sufftciency of Which are hereby acknOwledged, the Bank and the Borrower mutually agree as follows;

1.1 Recitals and RepreJentatibnS AGpt.irate. Tbe above reettafs are hereby .made a part of this Agreement an~ the SorrowerMknowledges artd agrees that eaoh·ofthe.reoitafs is true. and correct. ,,

1.2 . RatifiCation. AU of the terms •. cove~ provisions~ representations, warranties, and conditions of .the Loan O~ments, as amended ·or modifiEHt hereby; are ratified, 1!cknow1edged,. confirmed, and continued in fuU foroe and effect a$ if fUflyfestated 1\erein.

1.3 COflatetal. The Botrower confirms. and ratifies Its contiiluing mortgager pledge} assignment, and/or gtantof security interest ih and ften on tbe Collaterafto.and in favor of the Bank as set forth in the. Loan Documents.

1.4 Maturitv Oa~avment Sgh§dulp.

• Cornmen~.ng QI'J May 14, 2D1~ .~'d. on .the COI'J'e$PQrlding tjay of each en~irlg month th~ F~IY 14,.~1 !the •Ma~rHJ aue":), -BorrOYiet $ha,ll m-e teve.t principal ancnntenJst ~t$ in the amQunt ot$1.,nQQ.OQ;

• The Interest i'ate' in the loEin Documents shall be changed to a ffxed rate of Four and On• Q-..arter Pt~ent (4~~5%), subjed to the follOWing condition: lf the. Borrower defaults under thi$ Agreement, then all interest sha1LJ3ecome dUe and o:wing at the applicable rate ofinterest pJUJJ four percent {4.00%J;

• Defer principal, interest21ld ~~ charges PfJfed and vnpald for the period!i ~f D~m.,.r t4, 2011 through Aprti 1.3, @12 until Feh.,.ry 14t . .202~ (\he-"'Mal\loty oa~~);

• AU outsta"dll'l9c I&Qal feEt$\ -~ mterestand Jate ch~ Will be due and payable on Feb111ary 14, 20~ (~ ·~ty Pa.tf::"); ·

• Debtors shall sign an Affldavif for Confession of Judgment (prepared by outside attorney), Whieh shall be filed with the County CJerk in the State of Ulinois upon an Event of Defaultof this agreement.

• There shall.be no prepayrneJ)t penalty ;tpp}icable to this !()an~

1.5 Principal Balance .. The Borl'Qwer. acl<.rlOWiedges ant3 agree$ that tl'le ~rr~ out$~rtdlng principal balance of the Not~ as of ttte ctate ~reoH$ $15.~$8.47. ·

1.6 Representations and Wttranfie5; the .BOrrower' herebY represents Wldwartants to the Bank that

(a) The: pe(SC)rr executing thiS ~greement is duly authOrited. t&< do $0 and to bind the Borrower to the terms~ hereof; ·

(b) Each of the Loan Dool.lrnents is a valid ,and Jegal binding ob6~ation of the Borrower! enforceable in aotordance with ·,its·tettn&, ,and is not .subject to any defenses,. counterclaims, or offsets o.f any kind; ·

{c) All fihancial statements delivered to the Bank were:true; accurate and complete; in all material respects, as of the date of delivery to the Bank;· ·

(d) Siflee, the date of the loan Documents there has been no material ~dverse change in the

2

condition. financial or otherwise, oi fhe. Borrower, except as <iisclosed to the Bank in wri~ing;

(e) There exists no action, sllit, proceediqg or inve$tigatfon; at ~w or in fi19UitY. ~fqre >any court, board, administrative body or other entity, pendiflfl ~r tbr~neJ,i, ·affecting ~e BorrQwer ()'r i.ts prqperty, wherein an unfavcnabfe.decisfon, ruling .orfind;ing woUJd matedaUy ·a(SVer:sely aff~ct the business operations, pi'Qperty or financial eonqttion of the ~rr<lwer; and. ·

(f) There exists no event of qef&,rit; ·.Q.r· other cJroum~nca that With tt~·e. ~sage of time or giving of notice or both will beecl'me:all event·l)f default, un(l~any of tt:te t.,oan Docum~mts.

1. 7 Interest. Fees. §osts §Od Expenses. The Borr~ $hall,. simultanl:K>llsly with the execution of this Agreement, .PfiY to the Bank ¥111 ~ed tntere$1 owing on th~ Loan: a$ of the date of this Agreement together with all tees, costs am:.f e~ d!.le~nd OWing to t~ Bank bY the ,BorrOWt)f' qttrjer the l .. oan Documents.

2. MISCELLANEOUS

2.1 Set-Off. The BorroWer hereby .grants to the Bank a .continuing lien and security interest in any and aiJ deposits or othet sums at any time credited by or due from the Bank or arw Bank Affiliate (as hereinafter defined} to the Borrower aaa· any cash, securfties, instruments er other· property of the Borrower in the possession of the Bank or any Bank Affiliate, whether for safekeeping or C$erwise, or In transit to or ftom the Bank. or any Ban'k .Affillate. {regardless of the reason the Bank or Bank Afflfiate· had received th.e same o£ whether the Bank or any Bank Affinate has .conqittonally released the st.tme). as security for the run and pUnctual payment and performance of all of-the liabilities and obligations· of 1be BOJJoWer to the Bank or any Bank.Affiliate.and. such deposits.and other sums may be applied or set off against such liabilities and obligations of the Borrower to the Sank or any Sank AffiHate at any time~ whether or not such are then due; Whether or not demand has. been made and whether or not other collateral i&then availabfe to the Bank or any Bank Affiliate.

The term USank Affiliate .. as used in this A9reement shall mec1n any .. AfflliElte't ofthe Bank or anY lender acting as a participant under any Joan arrangement between ihe Bank and the Borrower, The term "Affiliate'' shall. mean With re$pecttoany person, (a) any person which~ directly or ·indirectly through one or more intermediaries contro~SJ or is controlled by, .or is under common rontrot wifh, such person, or{b) any person who is a director Of offiqer (i) of such person1 (ii} of any subsicf~ary of such person, or (iA} any person described in clause· (a) above. FOr' purposes of this definition, control of a person shall mean the power, direct or indirect, (X} to vote 5o/o or more ofthe :Capital Stock having ordinary voting power for the election of· directors {or comparable equivalent) ,of such person, or (:y) to dlrect or cause the direction of the management ahd po'licies .Of such person whether by contract or otherwise. Control may be by· ownership, contraot. or otherwisa

2.2 . Release of the Bank~ The Borrower hereby confirms that • of th~, date herep,f it nas no claim, set-off, counterclaim, defense. or. other· cao~ of ~ction ~·~ BaOk incfuef,tng. bttt not limited. to, ·a defense of usury, any cJ.aim or cause of a*n ~t ~mmon law, in equitY, :St;i~ry ()r otherwise,. in contract or in tort, for fraud, malfeasance, ~iSrepresenbitiqn; fii1al'l0ia1 loJs; usury, decePtiVe trade practice, or any other loss; damage or RabUity of aoy kinct. Including, ~ith~t ftmitation, any claim to exemplary or pwtitive damages arising out of ~my transa~n between the 'Borrower anc;J the Bank, To the extent that any such set-off1 counterdaimt defense, or other cause of action may eXist or rn,igh~ hereafter arise based on facts known or unknown that exist as of this datei Stich set..aff, counterclaim, defense and other cause of action is hereby expressly and knawingly waived and released py the Borrower. The Borrower aCkn&Wled.ges that this release Is part of. the consideration to the Bank for the financial and other accommodations. granted by the Bank rh this Agreement

2.3 Costs and Exoenses. The Borrower shall pay. to ~e Ban~ on demand any and an costs and expenses (inc1udingt ·without limitation) reasonaBle attorneys' fees and disbursements. court costs, litigation and other expenses} incurred or .paid by the aank in .establisbing1 maintaining, protecting or

3

enforcing ~ny of the Bianl('a rights or any of the obligations owing by the. Borrower to. the Bank; including, with~ut limitation, any and an $UCh costs and expenses incurred ·or pakf by the Bank in defending the Bank•s security inte.rest ill. title or ri~ht to, the Qollatera:J. or In collecting · or attempting to collect or enforcing or attempting tp enforce payment Of the LQan ..

2.4 lndemnifica!iQn. The BorrowershaU indemnify1 defend and hold the Bank and the E:lan~ Affiflates anq the1r directors •. OffJCei'S:; employees, ·agents and attorneys (each an "Indemnitee") h:;&rmless against any claim brOught or threatened against any tndemnitee by the BOrrower or any guarantor or endorser of the Obligatioll$ of. the, Borrower to.· the Bank, at any other person {as weft as from a~rneys' tees and expen~ irt XX.>nneotion ttter&Wtlh) on account of the Bank's relationship with the Borrower, or any guarantor or endorSer of the obligations' of the Borrower to. the Bank {each ofwhich may be defended:, comprpmifled, settJed or pursJ,Jed by ·the Bank With ooun$el of tbe Sank~s efecfion. but at the expense of the Borrower). ex®Pt fOr any dairn arising out ofthe gross. negligence .or willful misconduct of the Bank. The within lodemnificatiort shaH suNive payment Gf the, obligations of the Borrower to the Bank, and/or any termination~ r$leiil$e or diSCharge ele.CIJted by the Sank irt favor of the Borrower.

2.~ §eyerabiljty. If anY provision. of this Agreement or portron of such proviSion or the· application thereof to any }:)er$On or circtn:nstanoe $hall to any &Jdent be held invatid or unenforceable, the remainder of thi$ Agre.ement (or the remamder of such provision) and the application thereof to 'Other persons or cit:Qurnstances snail not be affected therehy ..

2.6 Counte{parts. This Agreement .may be executed tn two or more CO\.Interparts1 each of whiCh .shall be an original, but all of Which shall constitute but one agreement

2.7 Bank's Predegessorfs}. . Atr references in ft1e L~n ()OQUments to B,rn<, Pll)decessor shall hereafter mean Charter One. a division of a.as· Gitiaerts; N.A .• its S~!iPrs and assigns, The Sank's address, for au purposes, shall be·as s«forth jn the firSt Paragraph oYthisAg:r@Jnenl

2.8 Complete Aareemerrt~ TI:tis ~rnent and th~ ~~er ~oar'! Ooot.unen~ constitute the entire agreement and unc;teTSc•nrfing betweer:r af\d amoog }he parties b~r~o. refatinQ. to the subject matter hereof, and supersedes, Elfl prior pr~ts. oegotiatfan$, ~r~ts. arld. \JOder~ndiogs :among the parties hereto wilt! respect to such st4b.j~ m.a-r.

2.9 Bindihq Effect of Agreement This Agr,~t ~;;11! be bind'mg t.~pon ~nd inure to tt\e benefit of the respective heirs, executors, adrnini$tl"at0rs. Jegaf:.r~pr~ntatives. successor$ ~rrd assigns of the parties hereto, and. shall ~n in fulJ to~ .net eff.eci {an(t the aank shall ®: entltled. to. rely thereon} until released in writing ~Y the Bartle. TI')S-> ~nl< may 'l!llnsfer and a$Sign tbfS ASr~rnent and deliver the Colla~! to the assignee; Wftc) sbafl ~~!Jpon bave.atl of ttredgnts ofthe aank;a04 the Bank shall then be reliev~ and discharged of any t,.pcm$ibllitY or liability ·with r~ to 1hJ~ Agreement and the Colt&Wral. Except~ ~ssly pro\lict~ .hereirt ot itr t~ oth~ Loan Oocutnents, n~hing, expressed or implied. is. intended to <lQnf,er upon any paftY. other t~ ttl$ parti~s: he~to, any rights, remedies, obligations or Jia\)ilities un~r ~r l)yre$SC>n Pfthis Agr~ent Qt the otfler Loan Doc.urnentS~

2.10 Further As.surances. ·The Borrower w#l frQn1 ijrne to tim$ execute and deliver to the Bank such documents. and take or ~~ to be:fakert, all $\JPh other tvrtbet ~tlon. as; the 8$tik may request in order to effect and ~onflrrrt or vest more securety to the BMk .all tights CO.nt~::rnplated by this Agreement (including, withput lilni1ation; to t:orr;®t otetieal ert'Of$} or~o vE1St more fullY irt or a$sUte to tha Bank the security intere.~t in tne Cc;l~tfH'at Qr to comply Ymt1 apPJfeabfe ~tatute or law and. to facilitate the collection of the ColrateraJ {ff1cfUding, Without Umftation, the &J(acution of sto:cK transfer ora~::rs and· stock powers, endorsement of promiSSOt'Y notes aod it1Strurneo~ aod, no~ti.orf$ to i>b6Qors on the, CoU~al). T 6 the extent permitted by ~pU~ple liW, ~. eotrow~r autflf:lr~Zes the. B(lnk tQ file· finaheing statements, continuatiQn statements ()f amendmfro• WithQut.tbe So.tro~r'$ $ign.ature ~tppe.aring thereon, arid any such financing statements, contint,J~Pn #Qternen~ or a~n(imeoo; may be signed by tl:te 6ank on behaH of the Borrower, if necessary, ~mt may be file,d at any tirtreJn anyJurf$9~on, The Bank may at ~my time and from ijme to time fde flntmcing ~~ement.s; contittiJatiqn s.tatQm$11$ cand 1m1endments tbeteto which

4

contain any information requirect by the Hfino$IJhiform C9mmer¢ial' CQQ&, ata JLCS 5/1-101 .et.seq. as amended from time to time (the ''GoQe''J forth~ ~uffici~oy otfilfnt office acceptance of any financing statement continuation statement or amendment. lnpiuging wh~ther·the .ao~ i$ an organi,z1ation, tbe type of organiZation and any organization id~tifi~ msrn'* issued to the. SPrro•. ·The Borrower agrees to furniSh any such inform•tlon to the Bank promptly upQn r$QUe$t. In a<fdltion, the Borrower shall at any time and from time to time take sudl stePS as the B$nk may reasOM.bly r~}Jest fOr the .Bank (i) to obtain an acknowledgment, in form and su,bs~ne$ satls/actoty to the Bat'lk, of any bailee having: possession of' any of the Collateral that the b$0~ l")olds sucn CQltateraf 1or the Sank. (ii) to obtain i•oontror· {as defined 1n the Code) of any Collateral co~ect of d~it accounts, el~ctronlc chattel paper, letter of credit rights. or investment· property, with an¥ agreem~nf$ e$taPiisping oontroUo be in form and substance satisfactory to Bank. and {iii) otherwise to fns~;~r~ the continued perfection and priority of the Bank's security interest· In any of the CoOateml ancj the preservation 0f it$ dghts fhererf1.. The Borrower hereby constitutes the Bank its attorn(!)y.,f(l..fact to e:xecute •. if n~a,ry, a11d file all filings required ot so requested for the foregoing purposes, au acts of sucb att>meY peing hereby r~tified and confinne:Q; and such power, being coupled with an interest, shall be irrevocable untfl this Agr~ment terminate$ in aocomance With its,tetms, aH obfieatiens ofthe Borrower to tne Sank are irrev.ocabty paid in fufl and the Collateratls released.

2.11 Amendments and Waivers. T.f,lis Agreement may be arn~;tnded: ~od tfle· BP,rrower may take. any action herein prohibited, or omit ·to perform any ad. herein r~lred :to be.perfof'rt!ed by it, if the Borrower shall obtain the Bank's prior written consent to ~t .sU¢1:1 a~rtd~!it.. acticm or otnlssion to act. No delay or omission. on the pad of the Bank In exercising anyrtgp~ )J$1llynqer sh~l! pperate as a waiver of such right or any other right and waiver on any one or more ocoasions shall not be pansttued as . .a. t.>arto or waiver ofany right or remedy of the Sank t)tl.an;y future ocqslon,

2.12 Terms of Agreement Thia Agreement .shall co.ntinue in force and ~tsb long as any obligation of the Borrower to Bank shalt ~ outsanding a!ld is :ayppJemeotary tO each and every other· agreement between the Borrower ami. $cilnk-:anq $haR nQt be SQ t~nstrued ·as to liltl~ or omerwi$e det~ate: from any of the rights or remedies of Bank or an¥ ()f. the llabflifl~. QbJlgatio~ Qr unde~irlgs of the Borrower under any such agreemen~ nor shaU any COJ\1et11PQraneol.JI!I or S:Yb$~q~mt ~reement betw~ the Borrower and the Bank be ec>nstri.IBd, to Un11t or ~ise derogate from any ,of tl:le righ~ or remedies of Bank or any of the liabilities, ob[tgations or unGI~rtaJdngs of th.e B:prrQWElr hereunder, unl~ss su.cb otner agreement specifieaJly refers tolhls Agreer:nenf and Q)(pres$ly so provi~es.

2.13 Not!oes, Any no~ u.nder or ptJrs~;~ant t() t_hifl Agre£tment $hall tre <;teemed duly received and effective if delivered in hand to any offiQerQr agent ofthe Borrower (lr Bank, ,or if mai!ad by registered or certified maU. return receipt requested; adtlr~ssed .~ tna BQ~ .or Bpnk at th$ $flciresa set forth in thiS Agreement or as any party may fl1:lm ti~ to ~me d:esign~te by wntt~ notiCe to the oth~ p~:~rty.

2.14 Illinois Law. this Agreement shall be govemec.t Q¥_ ~t law applicable to the Bank and, to the extent not preempted by federal law. the law~ of thJstate of I.Oinols.

2.15 Reorod:uctions. Thls Agteemfmt and all' documents Which have been or may. be hereinafter furnished t)y Borrower to tne .Batik may be reprOduced by the Bank by any photographic, photostatic, microfilm, xerograPhic or similar p'@OeS$ •. sod anY. slfch teproduttion ·shall be admissible in evidence as the original itself in any judi~t ot administrative ,proeeecn.ng (whether or not the original ls in existence and whether or not $U¢h reprodutltion was rn.ade lri. the: re(J:t:.llar course ot business),

2.16 Vanye:. BQrfO.Vt(e.r ir~~wocably ,sUbmit$ to the flQf'texolusive jurisdiction of any Federal or state court sitting in fUin~is, over >$ny sllit. •on er pr~ng ari$ittg out of or r~ating to thJs AQreement Borrower irrevocably waives: tQ the fut• eJttent It may effeetiVely do so under applicable, Jaw, any o.bjection it may now or hereafter nave to the layinS) of th~ veot.le of any .such suit, action or proceeding broue.ht in any such court anc:;t any claim: that tf'le $$me has PE$rl bro.ugtltjn an tnoonvenl$nt'f0f'um. Borrower irrevocably appoints the Seoreqary of State Qf the 'State of fUm~ a~ iULauthorized agent.~ accept and acknowledge on its, bebalf any and all process whiell rnay .be sef\l~d in any &uch sCrlt, .sctio.n or proc~ing, ®nsents to

such process being served {1) by mailing: a copy thereof by registered or ~ifled mail, postage prepaid, tetum receipt requested, to Borrower's addt'e$8 soown above or as n<>tified to the .. Bank and (ii) bY serving the same upon such agent, and agrees that such service shall lf"! every respect be d.eemed effective seMce upon Borrower.

2.17 JURY WAIVER. BORROWER AND BANK' EACJi HEREBY KNOWINGLY, VOlUNTAijlLY AND INTENTIONAlLY. AND AFTER AN OPPORTUNITV TO CONSULT WitH LEGAL COUNSEL, WAIVE (A} ANY AND ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING IN CONNECTION WITH THIS AGREEMEN-T, THE OBLIGATIONS, ALL MATTERS CONTEI\tPLATED HEREBY AND DOCUMENTS EXECUTED tN CONNECTION HEREWITH AND (BJ AGREE~ NOT TO SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANV OTHER ACTION IN WHICH A JURY TRIAL CAN NOT BE, OR 'HAS. NOT BEEN WAlVEl1. TH£ BORROWER CERTIFJES THAT NEITHER.-THE BANK NOR ANY OF ITS REPRESENTA11YES, AGENTS OR COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE BANK WOULD NOT lN THE EVENT OF ANY SUCH PROCEEDING SEEK. TO ENFORCE THIS WAIVER OF RlGliT TO lRlAt.. SY.JURY.

Executed on this day :/ufJA~, ~012.

&lrrqwt!r:

Accepted: Charter One. a diVision of RBS C~ens, N.~\

By:----------------Name: Sara A. Jorgensen Title; Legal. Vendor Liaison

For good. a04 v~b;rable ®nsideration~ ~- ~ceipt and suffiOi~ncy of which are hereby acknowtedg~. the unck!rsigne<:,t guarantor(s) heret:>y irrevocably and un¢0nditlonatly acknowledge and confirm to the Bank that the g.yaranty of~e ~biiQati<ms of the Boo~r inctuding without limitation res~ting tha Note contin~ in fuU -force and effect aod is a valid a11d bi.ndi'ng obligation of the under$igned: guarantor(s) Jn ~corctance Witn its t(;Jtms. that no defensest offSet$, (;lairrts, counterclaims exist With r~pectto such guatanty(s), ami that each stltih guaranty rs enfbrceabie in ,accordance with its terms, and guarantees and $hall continue ttl guara,nte$ fn $cordanee With iiS terms the performance of all amou(lts guaranteed thereby Jncl4ding witf:lQ,ut limitation ih e~ddition to aU other liabilities and obligations g~nte$d tnereby, all llabiUtie$ aM t.1bligati0ns Qf the BorrQWer to th.e Bank respe«ing ~ Note and the ottter Loan D.oculnant$ ·til$ affected hatel;>y. ·

Exe!QUted Qn this day. s.fllf!€1-:JI. 2012.

Guaranfcr!

Mohammad Altaf. indivtaually

Exhibit 2

UNITED $T AT~S DISTRICT CO(JJit NORTHERN DISTRICT OF ILLINOIS

EASTERN' DIVISION

RBS CITIZENS, N.A., dlb!a Cl;lARTER ) ONE BANK, a National Banking ) Association, )

Plaintiff,

-vs-

TA YY AB CAB CORPORATION"' an Illinois Curporation and MOHA.M:MED ALTAF, an individualt

Defen(ijmts.

) ) ) } ) ) ) ) ) )

CaSeNtl. l:ll-cv-01808 fi<>n. Jiunes.B.~gel

.AGQED CONFESSION OF JUDGMENT.

This matter having COf,ile: befo~ the Ct1Utt upan the. stip:tilation of the parties;

Defendant TA YYAB CAB CORPORATION ~ MOHAMMED AL 1'AF having failed to

make payments as promised und~r ·tJie. Modification/Exten.sion Agreement to

Commercial Line Note dated M{ly,.....· _ _., 201~ (''A.greezn~nt") o.r having

otherwise failed to .abide by the non-monetary terms of the Agreement, and having

consented to the entry Qf :this Confession of Judgnten:t in the event of such failure;

Defendants ·waive all defenses te pre~eut an<l enforcement of this Confession of

Judgment, except payment in ful~ and striCt perfotrnance of the Agreement; Further;

DefendaQ.ts waive all rights. of &J>p~, inQllldiug emy stay of enforcement, right of

reconsideration~ or .other relief from judgment; ~Plaintiff RBS CITIZENS, N,A.~ d!bla

CHARTER ONE BAN:I< JllaY .enf~ ~d collect on this Confession~ of Judgment

immediately upon entry thereof without violating any stay of enforcement umier the

1

Federal Rulesnf CiVil.Procedure; and the Court otherwise being:fully.advise<J in the premises:

AGREED: AGREED:

8.·· .. :···-By . Its: Pre$jdent

RaS¢iC.:·J:NZE·····. ,NJ\. • . c

By: ·.·· Qne:of its a®rne~s

TAYYAB CAB CORPORATION

AGREED: MOHAMMER: IT ]S HEREBY OR:DIRED! that Judgment is hereby e,n t ere d in favor of Plaintiff

RBS CITIZENS, N.A;, d{b/a CflA.RTER ONE BANK~ a Na.ti<tnal Banking .Association, artd

against Defendants~ TA YYAB CAB CORPORATION and MOHAMMED ALTAF,jointly and

severally~ in the am<>unt of$105.6~6.06 les$ payments received by' R'nS CITIZENS,. N.A., dlbla

CHARTER ONE BANK prior to1 and/or putSU8Ilt to, tb,e Agreenumt, axtd all costs of

enforcement and collection, including ~onable attorney's fees and costs· incurred as· a result

thereof.

Dqted:~. -------~--

J.ames B. Zagel,. IJNI!E.O STA1BS DISTRICT JUDGE

2

Exhibit 3

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS

EASTERN DIVISION

RBS CITIZENS, N.A., dlb/ a CHARTER ) ONE BANK, a National Banking ) Association, )

) Plaintiff, )

) - vs- )

) TAYYAB CAB CORPORATION, an ) Illinois Corporation and MOHAMMED ) AL T AF, an individual, )

) Defendants. )

Case No. 1:11-cv-01808 Hon. James B. Zagel

PETITION FOR ATTORNEY'S FEES AND COSTS

I, William E. Nelson, under penalties as provided for by law pursuant to Chapter 735 ILCS 5/1-109, of the Illinois Code of Civil Procedure, certify that the statements set forth in this Petition are true and correct, except as to matters therein stated to be on information and belief, and as to such matters the undersigned certifies as aforesaid that he verily believes the same to be true.

1. I am over the age of21, under no legal disability, and if called and sworn as a witness in this cause, would competently testify that I have personal knowledge of the facts set forth in this Petition.

2. I am an attorney employed by the law firm of Simon, PLC at 1 South Dearborn, Suite 2100, Chicago, Illinois 60603.

3. I graduated from law school in January of 1980, and became licensed to practice law in the State of Illinois on May 1, 1980.

4. I have been practicing law for the last 31 years, during which I have, inter alia, concentrated my practice in the area of commercial litigation.

5. The law firm of Simon, PLC was retained by Plaintiff to prosecute this action on Plaintiffs behalf.

6. I am personally acquainted with the cause of action herein and with the legal services provided by the law finn of Simon, PLC in connection with this cause.

7. A detailed record reflecting the nature of the services performed by the paralegals and attorneys of Simon, PLC, the dates on which the services were performed, the number of hours spent performing the services, and the hourly rate charged is set forth in Exhibit A which is attached hereto and is by this reference incorporated herein, and was made by a person with knowledge of the information set forth.

8. The total of the fees incurred as set out in Exhibit A is $6,087.80.

9. Plaintiffhas incurred costs in the amount of$836.41 as set out in Exhibit A.

10. Plaintiffs attorneys completely performed the services reflected above.

11. The services performed were necessary in order for Plaintiff to properly represent its client.

12. The time spent performing the service was reasonable in light of the difficulty of the services performed.

13. I am familiar with the range of hourly rates charged by attorneys in McHenry/DuPage/Will/Cook County. The rate charged per hour is fair and reasonable, and within the normal standards of the community for the type of services performed based upon the level of skill, expertise and experience of the attorneys who performed the legal services.

14. The total amount of fees and costs incurred amount to at least $5,924.21.

William E. Nelson

VERIFICATION BY CERTIFICATION Under penalties as provided by law pursuant to Chapter 735 ILCS 5/1-109 of the Illinois

Code of Civil Procedure, the undersigned certifies that the statements set forth in this instrument are true and correct, expect as to matters therein stated to be on information and belief and as to such matters the undersigned certifies as aforesaid that he/she verily believes the same to be true.

William E. Nelson Ardc No.: 3126292 SimonPLC

SIGNATURE: ------------------------­William E. Nelson

DATED:

Attorneys for Plaintiff 1 South Dearborn Street - Suite 21 00 Chicago, Illinois 60603 312-212-4338

Exhibit A

SIMON PLC ATTORNEYS & COUNSELORS P.O. Box 4360

Troy,~ 48099-4360 TIN#: 38-3567469

Telephone: (248) 720-0290 Facsimile: (248) 720-0291

Attomey-C/ient/Attomey Work Product Privileged

Citizens Bank 443 Jefferson Blvd, RJW500 Wruronck,R1 02886

Attn: Michael McManus

RE: Tayyab Cab Corp - #800-8305498-0101

DATE DESCRIPTION

Dec-06-1 0 Receipt and initial review of file.

Dec-07-10 Search of Cook County Treasurer's online records for Property Identification No. assigned to Mortgaged Property; Drafting of forbearance agreement and second mortgage; Submit title order to title company.

Jan-14-11 Review of payoff letter; Drafting of demand letter.

Mar-11-11 Drafting of Complaint; disclosure statement and notification of affiliates; civil cover sheet; Telephone conference with client.

Apr-13-11 Telephone conference with client (.10); telephone conference with borrower re: modification agreement (.10).

Apr-14-11 Court mandated status conference re: service and discovery progress.

Apr-21-11 Drafting of motion for default judgment (.5); clerk status re: motion for default judgment (.5).

Apr-26-11 Telephone conference with borrower re: forbearance agreement and mortgage (.2); Telephone conference with client re: forbearance agreement (.2).

Mar-30-12 Review/Analyze Review file re default order.

Apr-05-12

Communicate (with client) Email request for account statement to client.

Communicate (with client) Follow up email to client requesting account statement.

02/11/2013 File#: 1943-0021

Invoice #: Summary

HOURS AMOUNT LAWYER

0.20

5.00

0.50

2.00

0.20

3.00

1.00

0.40

0.50

0.10

0.20

53.00

1,175.00

117.50

470.00

42.30

634.50

211.50

84.60

105.75

21.15

42.30

FRS

DJG

DJG

DJG

DJG

DJG

DJG

DJG

WEN

WEN

WEN

Feb 11/13 Summary 1943-0021 Tayyab Cab Corp - #800-8305498-0101 Pagel

Review/ Analyze Review account statements for 0.20 42.30 WEN principal and fees, costs.

Draft/revise Initiate draft of motion for default 2.00 423.00 WEN judgment.

Communicate (with client) Send affidavit to client 0.10 21.15 WEN for review, signature.

Apr-16-12 Communicate (other external) Telephone 0.20 42.30 WEN conference with debtor re motion for default judgment.

Communicate (with client) Telephone conference 0.20 42.30 WEN with client re debtor's payment offer.

Review/ Analyze Review of fees and costs. 0.10 21.15 WEN

Apr-17-12 Communicate (other external) Telephone 0.20 42.30 WEN conference with debtor re payment plan.

Apr-20-12 Review/Analyze Review court's sua sponte motion 0.30 63.45 WEN to change hearing date (.20); email to arrange coverage due to hearing conflict with the Sanyou Rule 33 hearing (.10).

Apr-23-12 Communicate (other external) Telephone 0.30 63.45 WEN conference with debtor re response to settlement demand; email to client re response.

Communicate (other external) Telephone 0.20 42.30 WEN conference with debtor re terms of settlement, agreed with confession; email to client to draft documents.

Apr-26-12 Communication in firm regarding hearing outcome. 0.10 21.15 KLF

Attend Hearing on Motion for Default Judgment. 2.00 423.00 KLF

Communicate (with client) Email to client re 0.10 21.15 WEN continued date of motion, request for forbearance draft based on the 1Kdown, 1K per month.

May-03-12 Communicate (with client) Email to client re 0.10 21.15 WEN forbearance agreement draft status.

May-09-12 Review/ Analyze Review modification agreement 0.50 105.75 WEN draft.

May-14-12 Draft/revise Draft court order. 0.50 105.75 WEN

Communicate (with client) Email to client re 0.20 42.30 WEN unlocking the modification agreement.

May-15-12 Communicate (other external) Return call to debtor 0.10 21.15 WEN re the modification agreement.

Feb 11/13 Summary 1943-0021 Tayyab Cab Corp - #800-8305498-0101 Page3

May-29-12 Letter to debtor re the modification agreement. 0.20 42.30 WEN

Review of file re motion hearing. 0.30 63.45 WEN

May-31-12 Review/Analyze Review of file remotion hearing. 2.50 528.75 WEN

Communicate (with client) Email report to client re 0.20 42.30 WEN court status.

Jun-08-12 Communicate (other external) Telephone 0.10 21.15 WEN conference with debtor re forbearance agreement.

Jun-09-12 Communicate (other external) Telephone 0.10 21.15 WEN conference with debtor re forbearance agreement.

Communicate (with client) Email to client re verbal 0.10 21.15 WEN confirmation from debtor.

Jun-18-12 Communicate (other external) Telephone 0.10 21.15 WEN conference with Court to confirm next court date.

Communicate (other external) Telephone 0.20 42.30 WEN conference with debtor re agreement, next court date.

Jun-19-12 Communicate (other external) Telephone 0.20 42.30 WEN conference with debtor re agreement, next court date.

Communicate (with client) Email to client re 0.10 21.15 WEN debtor's promise to pay.

Jun-27-12 Review signed faxed documents from debtors. 0.30 63.45 WEN

Email status to client. 0.20 42.30 WEN

Jun-28-12 CC Email to Client Re: Settlement 0.10 21.15 WEN

Jul-03-12 Review/ Analyze Review original confession and 0.10 21.15 WEN copies of client mailing.

Jul-06-12 Communicate (with client) Respond to client 0.10 21.15 WEN inquiry re documents.

Jul-28-12 Communicate (with client) Respond to client 0.10 21.15 WEN inquiry re debtor contact information.

Feb-01-13 Communicate (with client) Email to client re court 0.20 42.30 WEN order for status; need to dismiss case.

Feb-06-13 Review/ Analyze Review file re settlement 0.30 63.45 WEN documents.

Communicate (with client) Email to client re 0.20 42.30 WEN settlement payment status.

Feb-11-13 Communicate (with client) Email from client re 0.20 42.30 WEN settlement and direction to move for judgment.

Feb 11/13 Summary 1943-0021 Tayyab Cab Corp - #800-8305498-0101

Draft/revise Draft motion for judgment. 1.50

TOTALS: 27.90

Disbursements

Dec-07-10 Order Document- Cook County Recorder of Deeds

Jan-12-11 Postage Federal Express Charges Ed Loeb 12/13/10 1 @ 4.12

Jan-14-11 Postage Postage Expense 1 @ 11.96

Feb-22-11 Online Fee- Order Documents from Cook County Recorder of Deeds

Mar-16-11 Court Fees Online Filing Fee- File Complaint USDC IL 1 @ 350.00

Apr-01-11 Delivery services/messengers Service ofProcess- Summons and Complaint- Tayyab 3/21/11 1 @ 75.00

317.25

6,087.80

Amount

3.00

4.12

11.96

22.50

350.00

75.00

Delivery services/messengers Service ofProcess- Summons and 75.00 Complaint on Mohammad Altaf 3/20/11 1 @ 75.00

May-11-11 Postage Federal Express Charges Ed Loeb 5/3/11 1 @ 17.99

Jun-06-11 Postage Postage Expense 1 @ 1.88

Court Fees Recording~ Fee 1 @ 70.00

Jun-17-11 Court Fees Recording Fee 1 @ 2.00

Aug-28-11 Comet Messenger Service, Inc; Invoice# 21129; Recorded mortgage with Cook County Recorder of Deeds; returned recorded mortgage. Delivery services/messengers

Sep-20-11 Federal Express Charge Comet Messenger Service 8/24/11

Sep-21-11

Federal Express Charge return to D. Groulx 8/24/11

Federal Express Charge Return to D. Groulx 8/25/11

Federal Express Charge John Rosevear 9/1/11

May-31-12 William E. Nelson Travel Expense Attendance at District Court Motion Hearing 5/31/12

Jun-20-12 Federal Express Charge Mohammad Altaf5/29/12

Jul-27-12 Federal Express Charge Sara Jorgensen 6/29/12

TOTALS:

TOTAL FEES AND DISBURSEMENTS

17.99

1.88

70.00

2.00

44.95

15.64

53.19

15.64

17.92

20.32

16.74

18.56

836.41

$6,924.21

Page4

WEN

Feb 11/13 Summary 1943-0021 Tayyab Cab Corp - #800-8305498-0101

This bill may not reflect all charges incurred

PAYMENT DUE UPON RECEIPT

RESULTS WITH A COST-EFFECTIVE APPROACH/ Thank You for letting us serve you!

PageS