2009 Graham Complaint for Judgement

8/3/2019 2009 Graham Complaint for Judgement

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STATE OF ILLINOIS )SS

David M. hai oCOUNTY OF LAKE) . :

IN THE CIRCUIT COURT OF THE NINETEEN H

JUDICIAL CIRCUIT, LAKE COUNTY ILLING^RGMichael R. Graham as Trustee F/B/O,Michael R. Graham Living Trust

Under a trust agreement dated

August 4, 1994

Plaintiff,

V .

Robert E. Almblad and YvonneAlmblad,

Defendants.

! ' oCOMPLAINT FOR JUDGMENT ON NOTE

NOW COMES the Plaintiff, Michael R. Graham as Trustee FB/O, Michael R.

Graham Living Trust under a trust agreement dated August 4, 1994 (herein "Graham"),

by and through his attorneys, Churchill, Quinn, Richtman & Hamilton, Ltd., and

complaining of the Defendants, Robert E. Almblad and Yvonne Almblad (hereinafter

"Almblad"), alleges as follows:

INDIVIDUALS AND ENTITIES

1. Graham is a resident of Lake County, Illinois.

2. Robert E. Almblad was a resident of Lake County, Il ,p currently a

resident of the State of Florida. L


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3. Yvonne Almblad is a resident of Lake County, Illinois.

FACTS

4. On or about March 21, 2001, the Defendants, Robert E. Almblad and Yvonne

Almblad (collectively referred to as "Almblad"), executed a note in Lake County, Illinois

payable to Michael R. Graham as Trustee FB/O, Michael R. Graham Living Trust under

a trust agreement dated August 4, 1994 (herein "Graham"). A copy of that note is

attached hereto and made a part hereof as Exhibit A.

5.That note was extended from time to time most recently on March 26, 2008. A

copy of that extension is attached hereto and made a part hereof as Exhibit B.

6. According to the payment provisions of the promissory note and extension

(Exhibit B), Almblad promised to pay $50,000.00 plus interest by March 21, 2009.

7. Interest was to be paid at 9.0% on the balance through March 22, 2004 and at a

rate of 9.5% through March 21, 2009 or until final payment.

8. On March 21, 2009, Almblad defaulted on the loan by failing to make the payment

in accordance with the agreement.

9. According to the terms of the note, upon default, Almblad is obligated to pay any

attorney's fees resulting from the default.

WHEREFORE, the Plaintiff Michael R. Graham as Trustee F/B/O, Michael R.

Graham Living Trust under a trust agreement dated August 4, 1994, prays that a

judgment be entered in his favor and against the Defendants, Robert E. Almblad and

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Yvonne Almblad in an amount in excess of $50,000.00, accrued interest plus attorney's

fees and costs of suit pursuant to the provisions of the promissory note.

Respectfully Submitted,

John W. QuinnAttorney No. 02270706

Churchill, Quinn, Richtman & Hamilton, Ltd.P.O. Box 284

Grayslake, IL 60030

Tel: (847) 223-1500

Fax: (847) 223-1700G:\Litigation Files\Graham V. Almblad\Complaint.doc

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http://g/Litigationhttp://g/Litigation


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PROMISSORY NOTE

$50,000.00 March 21, 2001

Libertyville, IL

FOR VALUE RECEIVED, the undersigned, Robert E. Almblad and Yvonne Almblad,("Payors") jointly and severally promise to pay to the order of Michael R. Graham, TrusteeFIB/O, Michael R. Graham Living Trust U/T/A/D August 4,1994 ("Payee") the sum of Fifty

Thousand Dollars ($50,000), with interest thereon at the rate of 9.0% percent per annum,payable upon the earliest of the following events to occur, Robert Almblad gets paid any

appreciable amount of money from Laser Key II LP. or when Robert Almblad sells more than acumulative total of $200,000 of his personal equity in Laser Key II LP. or on March 21, 2003.

Any increase in bank interests rates to Payee will be passed on and added to this note. Nointerest payments will be made by Almblads until the note becomes due. However, interest

payments will be added to the loan monthly and interest calculated thereon monthly.

In the event of default in the payment hereof, the payors shall pay in addition to principaland interest due hereon, any and all reasonable attorneys fees, court costs, and collection feesincurred by payee in enforcing and collecting this note.

Presentment, notice of dishonor and protest, and notice of protest are waived.

Principle and interest due hereunder shall be payable to Payee at 905 Burridge Ct.,Libertyville, IL 60048 or at such other address as payee may direct in writing.

Robert EAlmblad

?L /v CC ^

7 p

Yvonne Almblad

Upon funding of this $50,000.00 loan, Robert Aimblad will issue Michael R. Graham, TrusteeF/B/O Michael R. Graham Living Trust U/T/A/D August 4,1994.73% of Laser Key II LP fromhis personal ownership. This .73% will be treated under the same terms as all other limited

partners including further dilution as more interests are sold to others or further increases in valueas partners shares are reacquired reversing the prior dilution in value. The correspondenceleading up to this Promissory Note 's a

Michael R. Graham TrusteeEXHIBIT

ILL


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EXTENSION OF TIME OF PAYMENT

This Indenture made this day of March, 2008, by and between Michael R. Graham Trust

F/B/O Michael R. Graham Living Trust U/T/A/D August 4, 1994 (APayeea) the holder of the

Promissory Note hereinafter described, and Robert E. Almblad and Yvonne Almblad, his wife.

1. The parties hereby agree to extend the time of payment of the indebtedness evidenced

by the Promissory Note in the amount of Fifty Thousand and 00/100 ($50,000.00) Dollars of Robert

E. Almblad and Yvonne Almblad, dated March 21, 2001.

2. The amount remaining unpaid on the note in question, to which this extension

pertains is Fifty Thousand and 001/00 ($50,000.00), plus accrued compounded interest thereon.

3. Said remaining indebtedness of Fifty thousand and 00/100 ($50,000.00) plus accrued

compounded interest thereon shall be paid on or before the 21st day of March, 2009 and the Payors,

in consideration of such extension promise and agree to pay that part of the indebtedness evidenced

by the Promissory Note, as hereby extended and to pay accrued compounded interest thereon at the

rate of nine per cent (9.0%) per annum through March 21, 2004 and at a rate of nine and one half

percent (9.5%) per annum from March 22, 2004 through March 21, 2009, or until final payment.

4. This agreement is supplemental to the Promissory Note dated March 21, 2001 and

previous Extension of Time of Payment dated May 13, 2003 and previous Extension of Time of

Payment dated March 17, 2004 and previous Extension of Time of Payment dated March 3, 2005

and the previous Extension of Time of Payment dated March 21, 2006, and the previous Extension

of Time dated March 23, 2007, all provisions thereof shall remain in full force and effect.

Dated: day of March, 2008.

e . Atiblad onne Almblad I EXHIBIT

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2009 Graham Complaint for Judgement