735 ILCS 5/13-116
2021 Illinois Compiled Statutes|Chapter 735 - CIVIL PROCEDURE|735 ILCS 5/ - Code of Civil Procedure.|Article XIII - Limitations

 (from Ch. 110, par. 13-116)Sec. 13-116.     Lien of mortgage, trust or vendor's lien.     (a) The lien of  every mortgage, trust deed in the nature of  a mortgage, and vendor's lien, the due date of which is stated upon the  face, or ascertainable from the written terms thereof, filed for record  either before or after July 16, 1941, which has not ceased by limitation  before July 16, 1941, shall cease by limitation after the expiration of  20 years from the time the last payment on such mortgage, trust deed in  the nature of a mortgage, or vendor's lien became or becomes due upon  its face and according to its written terms, unless the owner of such  mortgage or vendor's lien, or the owner or trustee of such trust deed in  the nature of a mortgage either(1) Before July 16, 1941, and within such 20 year period has filed  or caused to be filed for record an extension agreement showing the time  for which the payment of the indebtedness is extended, and the amount  remaining unpaid on such indebtedness; or(2) After July 16, 1941, and within such 20 year period or within  one year after July 21, 1947, provided the due date of the instrument  was more than 19 years before July 21, 1947, files or causes to be filed  for record, either (i) an affidavit executed by himself or herself  or by some  person on his or her behalf, stating the amount or amounts claimed to be unpaid  on the indebtedness secured by such mortgage, trust deed in the nature  of a mortgage, or vendor's lien; or (ii) an extension agreement executed  as hereinafter provided.(b) The lien of every mortgage, trust deed in the nature of a  mortgage, and vendor's lien, in which no due date is stated upon the  face, or is ascertainable from the written terms thereof, shall cease by  limitation after the expiration of 30 years from the date of the  instrument creating the lien, unless the owner of such mortgage or  vendor's lien, or the owner or trustee of such trust deed in the nature  of a mortgage, within such 30 year period or within one year after July  21, 1947, provided the date of the instrument was more than 29 years  before July 21, 1947, files or causes to be filed for record either (1)  an affidavit executed by himself or herself or by some person on his or her behalf,  stating the amount or amounts claimed to be unpaid on the indebtedness  secured by such mortgage, trust deed in the nature of a mortgage, or  vendor's lien; or (2) an extension agreement executed as hereinafter  provided.The filing for record of an affidavit provided for by this Section,  within such 20 or 30 year period or one year period, as the case may be,  shall extend the lien for a period of 10 years after the date on which  such lien would cease if neither an affidavit nor extension agreement  were filed, and no more, and a subsequent affidavit filed within the  last 10 year period of the lien, as extended, shall extend the lien for  an additional 10 year period, and no more, but successive affidavits may  be filed, each extending the lien 10 years.The filing for record of an extension agreement within such 20 or 30  year period or one year period, as the case may be, whether before or  after July 16, 1941, shall extend the lien for 10 years from the date  the final payment becomes due under such extension agreement, and no  more, but subsequent extension agreements filed before the lien, as  extended, ceases, shall extend the lien for an additional 10 year period  from the date the final payment becomes due under such extension  agreement, and no more. The filing of an extension agreement shall not  be construed in any way to cause the lien to cease before it would cease  if neither an extension agreement nor an affidavit were filed.  Affidavits may be followed by extension agreements, and extension  agreements may be followed by affidavits.An extension agreement executed after July 16, 1941, to be effective  for the purpose of continuing the lien of any mortgage, trust deed in  the nature of a mortgage, or vendor's lien shall show the time for which  the payment of the indebtedness secured thereby is extended and the  amount remaining unpaid on such indebtedness, and shall be executed and  acknowledged by the owner of the mortgage, trust deed in the nature of a  mortgage, or vendor's lien, or someone on his or her behalf, and by one or more  persons representing himself, herself or themselves to be the then owners of  the  real estate. The affidavit or extension agreement shall be effective  only as to the lands within the county or counties wherein such  affidavit or extension agreement, or a copy thereof, is filed for  record.When a corporation is the owner or trustee of any such mortgage,  trust deed in the nature of a mortgage, or vendor's lien, the affidavit  herein described shall be deemed effective for all purposes under this  Section when it has been executed by any officer of such corporation, or  by any person authorized by the corporation to execute such affidavit.The Section shall apply to mortgages, trust deeds in the nature of  mortgages, and vendor's liens on both registered and unregistered lands.  "Filed for record" or "the filing for record" as used in Article XIII  of this Act means  filing in the office of the recorder in the county in which the  lands are situated, if such lands are unregistered, or in the office of  the registrar of titles for such county, if such lands are registered.  Nothing herein contained shall be construed to revive the lien of any  such instrument which has expired by limitation before July 16, 1941.    (Source: P.A. 83-1362.)