Wednesday, April 20, 2005

Notice Of Intention To Foreclose

(Under Security Agreement)

To ________________________, Debtor


You are hereby notified that the undersigned intends to foreclose under provision of that certain Agreement executed by you on the _______ of ______________20 , whereby certain personal property described as follows was given as security for the payment of indebtedness to Secured Party named below.


You are hereby further notified that unless you pay, within ___ days from the date hereof, to the undersigned, holder and owner of the said Agreement, at their office address, which is listed below, the sum of $ _________ , all of which is now due and payable pursuant to the conditions of said Agreement, plus charges at the rate provided for in said Agreement, from date hereof to date of payment, SECURED PARTY SHALL TAKE POSSESSION OF SAID PROPERTY. Further, if said property sells for less than the amount then due under terms of the Agreement, you will be obligated to pay the deficiency.





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The forms are samples provided for discussion purposes only. Should you decide to use any of them in your business or personal activities, it is advised that you have them reviewed by competent legal counsel.