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Session Laws, 1999
Volume 796, Page 2127   View pdf image
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(2) A PARTICULAR PHRASING OF THE NOTIFICATION IS NOT REQUIRED.

(3) THE FOLLOWING FORM OF NOTIFICATION, WHEN COMPLETED,
PROVIDES SUFFICIENT INFORMATION:

(NAME AND ADDRESS OF SECURED PARTY)

(DATE)

NOTICE OF OUR PLAN TO SELL PROPERTY
(NAME AND ADDRESS OF ANY OBLIGOR WHO IS ALSO A DEBTOR)
SUBJECT: (IDENTIFICATION OF TRANSACTION)

WE HAVE YOUR (DESCRIBE COLLATERAL), BECAUSE YOU BROKE PROMISES IN OUR
AGREEMENT.

(FOR A PUBLIC DISPOSITION:)

WE WILL SELL (DESCRIBE COLLATERAL) AT PUBLIC SALE. A SALE COULD INCLUDE
A LEASE OR LICENSE. THE SALE WILL BE HELD AS FOLLOWS:

DATE:

TIME:

PLACE:

YOU MAY ATTEND THE SALE AND BRING BIDDERS IF YOU WANT.
(FOR A PRIVATE DISPOSITION:)

WE WILL SELL (DESCRIBE COLLATERAL) AT PRIVATE SALE SOMETIME AFTER
(DATE). A SALE COULD INCLUDE A LEASE OR LICENSE.

THE MONEY THAT WE GET FROM THE SALE (AFTER PAYING OUR COSTS) WILL
REDUCE THE AMOUNT YOU OWE. IF WE GET LESS MONEY THAN YOU OWE, YOU (WILL
OR WILL NOT, AS APPLICABLE) STILL OWE US THE DIFFERENCE. IF WE GET MORE
MONEY THAN YOU OWE, YOU WILL GET THE EXTRA MONEY, UNLESS WE MUST PAY IT
TO SOMEONE ELSE.

YOU CAN GET THE PROPERTY BACK AT ANY TIME BEFORE WE SELL IT BY PAYING US
THE FULL AMOUNT YOU OWE (NOT JUST THE PAST DUE PAYMENTS), INCLUDING OUR
EXPENSES. TO LEARN THE EXACT AMOUNT YOU MUST PAY, CALL US AT (TELEPHONE
NUMBER).

IF YOU WANT US TO EXPLAIN TO YOU IN WRITING HOW WE HAVE FIGURED THE
AMOUNT THAT YOU OWE US, YOU MAY CALL US AT (TELEPHONE NUMBER) OR
WRITE US AT (SECURED PARTY'S ADDRESS) AND REQUEST A WRITTEN
EXPLANATION. (WE WILL CHARGE YOU $ FOR THE EXPLANATION IF WE SENT YOU
ANOTHER WRITTEN EXPLANATION OF THE AMOUNT YOU OWE US WITHIN THE LAST
SIX MONTHS.)

IF YOU NEED MORE INFORMATION ABOUT THE SALE CALL US AT (TELEPHONE
NUMBER) OR WRITE US AT (SECURED PARTY'S ADDRESS).

 

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Session Laws, 1999
Volume 796, Page 2127   View pdf image
 Jump to  
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