Question about Mortgage Docs and Recording for Comm Mortgages

[Eric M.]

This might seem esoteric but it has to do with an important investment I have made and I wanted to see if someone could answer my question.

I am in Chicago but I am not sure if this is a local thing or not.

I am unsure about what the actual loan amount was for a Commercial Mortgage I am researching on-line in the Cook County Recorders Office.

When I look up the database, it shows for example the loan is for $780,000.  However when I look at the actual Mortgage Document, the cover page says the loan is for $390,000 but then in the first clause Titled Maximum Lien. It says the Maximum Principal Lien is 780,000.

So I thought that was odd so I looked at other mortgage documents from the same lender (a local mainstream bank).  In about 60% of case the Max Lien shown was exactly double the Loan amount shown but in the other 40% the Maximum Lien was the same as the Loan Amount.  This is for similar commercial properties and the same lender, same jurisdiction.  

I am looking for the explanation.  Could it be some difference in the repayment method (IO vs something else)?  I don't have access to the Note documentation.

Any ideas?  I am just trying to make sure that there were not 2 $390,000 checks issued and I am being misled.

Thanks