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costs of the foreclosure proceeding. Atlantic sued to recover the surplus
from Camden National. Who wins? Atlantic Ocean Kampgrounds, Inc. v.
Camden National Bank, 473 A.2d 884, Web 1984 Me. Lexis 666
(Supreme Judicial Court of Maine)
26.3 Redemption
Elmer and Arletta Hans, husband and wife, owned a parcel of real
property in Illinois. They borrowed $100,000 from First Illinois
National Bank (First Illinois) and executed a note and mortgage to First
Illinois, making the real estate security for the loan. The security
agreement authorized First Illinois to take possession of the property
upon the occurrence of a default and required the Hanses to execute a
quitclaim deed in favor of First Illinois. The state of Illinois recognizes
the doctrine of redemption. When the Hanses defaulted on the loan, First
Illinois filed a lawsuit, seeking an order requiring the Hanses to
immediately execute a quitclaim deed to the property. Must the Hanses
execute the quitclaim deed before the foreclosure sale? First Illinois
National Bank v. Hans, 143 Ill. App.3d 1033, 493 N.E.2d 1171, Web
1986 Ill. App. Lexis 2287 (Appellate Court of Illinois)
26.5 Consumer Leasing Joyce Givens entered into a rental agreement
with Rent-A-Center, Inc. (Rent-A-Center), whereby she rented a bar and
an entertainment center. The agreement provided that she must pay in
advance to keep the furniture for pe