DIY Legal Forms

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Notice Of Sale Of Pledged Collateral

To [name] (Pledgor), residing at [address], and to whom it may concern:

1. Sale of Collateral.

(a) Notice of Sale. [Name] (Pledgee) will sell the Collateral described below, or as much as is necessary to pay ........ dollars ($........) plus interest, attorney fees, and the costs of this sale, to the highest bidder.

(b) Time and Place of Sale. The sale will be a public sale, for cash. It will take place on [date] at [name of building, if applicable, room number, and address] at [hour] AM [PM] [time zone].

2. Underlying Obligation. The Collateral secures a note executed by [name of debtor], dated [date], in the principal sum of ........ dollars ($........), with interest at ........ percent (........%) per year. The balance due on this obligation is ........ dollars ($........). Pledgor is in default under the obligation.

3. Description of Collateral. The Collateral, securing the obligation described in Paragraph 2, that will be sold is:

(a) Note. Note dated [date], executed by [name], payable to the order of [name], and indorsed in blank by [name], in the principal sum of ........ dollars ($........) with interest at ........ percent (........%) per year, and due [date].

(b) Stock. Certificate No. [number], for [number] shares, of ........ dollars ($........) par value [or, no par value], of [name of corporation], a [state] corporation, issued in the name of [name], and indorsed in blank by him.

4. Power to Sell. The right to sell the Collateral in the manner specified in this Notice was granted by Pledgor in the obligation described in Paragraph 3. The legal holder of this Collateral has the right, when Pledgor is in default on Pledgor's underlying obligation, to sell the Collateral, at public or private sale.

5. Location and Inspection of Collateral. The documents evidencing the underlying obligation and the Collateral itself are in Pledgee's possession at Pledgee's office at [address] and may be inspected there, before the sale, by any prospective purchaser or bidder. These documents and the Collateral will also be present and open for inspection at the time of sale.

[dated]

[signature]

Pledgee

*** If Required By State Law ***

This Section for Notary:

Acknowledgment

STATE OF -------)

) ss: [date]

COUNTY OF ------)

On [Date] before me, [Name of Notary], notary, personally appeared [Name of Person(s) Involved], personally known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

Witness my hand and official seal.

[signature]

[Name of Notary Public]

My commission expires: [date]

(Seal)