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BANK OF AMERICA, N.A. v. FREED

Nos. 1-11-0749, 1-11-2112, 1-11-3372.

983 N.E.2d 509 (2012)

2012 IL App (1st) 110749

368 Ill. Dec. 96

BANK OF AMERICA, N.A., a National Banking Association, Successor by Merger to LaSalle Bank National Association, as Agent for Lenders, Plaintiff-Appellee, v. Laurance H. FREED and, DDL LLC, an Illinois Limited Liability Company, Defendants-Appellants.

Appellate Court of Illinois, First District, Second Division.

December 28, 2012.

Attorney(s) appearing for the Case

Louis D. Bernstein , Michael T. Herbst , Tracey M. Guerin , James D. Trail , Bernstein Law Firm, Chicago, IL, Scott M. Day , Day & Robert, PC, Naperville, IL, for appellants.

John H. Anderson , Jerome F. Buch , Seyfarth Shaw LLP, Chicago, IL, for appellee.

OPINION

Justice QUINN delivered the judgment of the court, with opinion.

¶ 1 This consolidated appeal arises out of an action by plaintiff, Bank of America, N.A., to foreclose a $205 million loan guaranteed by defendants, Laurance H. Freed and DDL LLC. On appeal, defendants argue that the trial court erred by: (1) entering a judgment against them in the amount of $206,700,222.39, pursuant to a "carve-out" provision of the guaranty that required them...

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