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Notice Of Intention To Foreclose
(Under Security Agreement)
To: [Debtor Name]
You are hereby notified that the undersigned intends to foreclose under provision of that certain Agreement executed by you on the [Date], whereby certain personal property described as follows was given as security for the payment of indebtedness to Secured Party named below.
[Name of Secured Party].
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 the aforementioned 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.
Name of Secured Party
Address of Secured Party