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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 ($........) plus interest, attorney fees, and the costs of this
sale, to the highest bidder.
b. Time and Place of Sale. The sale will be a public sale,
for cash. It will take place on [date] at [name of building, if
applicable, room number, and address] at [hour] AM [PM] [time
2. Underlying Obligation. The Collateral secures a note
executed by [name of debtor], dated [date], in the principal sum of
........ dollars ($........), 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.
*** If Required By State Law ***
This Section for Notary:
State of _________
County of ________ [COUNTY]
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.
My commission expires: _____