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Promissory Note Letter of Default

(Type A)

[Company Letterhead]

[Date]

[Mr/Mrs/Ms/Dr] [First Name] [Last Name]

[Title]

[Company]

[Address]

[City] [State] [Zip]

Dear [Mr/Mrs/Ms/Dr] [Last Name]:

PURSUANT to the terms of a certain promissory note dated [Date], the borrower has failed to make the required payment.

Failure to pay constitutes a default of the promissory note.

PURSUANT to the promissory note, the entire amount, including interest of [$------] is now due and payable.

Should you not correct the default or pay the entire outstanding amount within [---] days from the date and signing of this letter, this matter will be forwarded to our counsel for appropriate collection actions.

Sincerely,

[Your Name]

[Your Title]

[Your Telephone Number]