(735 ILCS 5/12-142) (from Ch. 110, par. 12-142)
Sec. 12-142.
Realty sold to satisfy junior lien.
Except as to any
sale had by virtue of a judgment of foreclosure in accordance with Article
XV of this Act, whenever any real estate
has been or is sold at judicial
or judgment sale to enforce a lien thereon and the real estate is
subject to a mortgage lien which is prior and superior to the lien so
foreclosed through that sale, the holder of the certificate of sale,
may from time to time during the
period of redemption pay any interest, principal or other obligation
which is due and payable in accordance with the terms of the superior
mortgage. If redemption is made from the sale, the party or parties
entitled to redeem shall pay to the holder of the certificate of sale,
or grantee under such deed, or to the sheriff or other officer who sold
the real estate or his or her successor in office, in addition to the amount
due on the certificate, or deed, the amount paid by the holder thereof
or grantee therein for interest, principal or other obligation, together
with interest thereon at the rate of 10% per annum, if before the
redemption is made a receipt evidencing the payments of interest,
principal and other obligations is filed with the sheriff or other
officer who made the sale or his or her successor in office or exhibited by the
holder of the certificate or grantee in such deed to the party redeeming
if the redemption payment is made directly to the holder of the
certificate, or the grantee in such deed.
(Source: P.A. 84-1462.)
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