(205 ILCS 205/6005) (from Ch. 17, par. 7306-5)
Sec. 6005.
General loan contract provisions.
Each loan and any agreement for securing the loan shall be
evidenced by one or more written instruments, consistent with sound
lending practices in the locality. Whenever recordation of an
instrument is necessary to establish priority over the claim of any
third party, the instrument shall be recorded.
(Source: P.A. 86-1213.)
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