Notice of Default :
Notice of Credit Limit :
Dear Mr. / Mrs…...,
A review of your account indicates a present balance of $_________ owed our firm. Every account is carefully evaluated to establish a credit limit that we believe is consistent not only with our interests, but the interests of the customer as well. We have established $________ as your credit allowance and believe it is appropriate.
Since you are at or near that credit limit, we can ship future orders only on a C.O.D. basis, until your balance is reduced.
We would be pleased to review your account with you if you believe an increased credit line is justified.
We are confident you understand the need for this action.
Notice of Default :
Dear Mr. / Mrs……,
____________________as trustee (or beneficiary) under that certain deed of transfer in trust executed by ___________ as Trustor, to ____________, as Trustee and ______________, as beneficiary, dated _____________, recorded in Book ____, Page ___ of official records in the office of the County Recorder of _______ County, State of ____________, hereby give(s) notice that a breach of the obligation for which such transfer in trust is security has occurred, the nature of said breach being the failure to [state each item of default, such as the failure to pay principal or installments thereof, interest, taxes, insurance, etc.] and that the Trustee (or beneficiary) elects to sell or cause to be sold the trust property in order to satisfy said obligation.
[Insertion if default is curable]
YOU MAY HAVE THE RIGHT TO CURE THE DEFAULT DESCRIBED HEREIN AND REINSTATE THE MORTGAGE OR DEED OF TRUST. SECTION ______ OF THE CIVIL CODE PERMITS CERTAIN DEFAULTS TO BE CURED UPON PAYMENT OF THE AMOUNTS REQUIRED BY THAT SECTION WITHOUT REQUIRING PAYMENT OF THAT PORTION OF PRINCIPAL AND INTEREST WHICH WOULD NOT BE DUE HAD NO DEFAULT OCCURRED. WHERE REINSTATEMENT IS POSSIBLE, IF THE DEFAULT IS NOT CURED WITHIN _______________ FOLLOWING THE RECORDING OF THIS NOTICE, THE RIGHT OF REINSTATEMENT WILL TERMINATE AND THE PROPERTY MAY BE SOLD.
TO DETERMINE IF REINSTATEMENT IS POSSIBLE AND THE AMOUNT, IF ANY, NECESSARY TO CURE THE DEFAULT, CONTACT THE BENEFICIARY OR MORTGAGEE OR THEIR SUCCESSORS IN INTEREST, WHOSE NAME AND ADDRESS IS _________________ AT ____________________.
ANY FAILURE TO COMPLY WITH THE PROVISIONS OF THIS SUBDIVISION SHALL NOT AFFECT THE VALIDITY OF A SALE IN FAVOR OF A BONA FIDE PURCHASER OR THE RIGHTS OF AN ENCUMBRANCER FOR VALUE AND WITHOUT NOTICE.
Trustee or Beneficiary
Notice of Default
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