NOTICE OF DEFAULT
To
__________________
___[address]______
____________________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]
NOTICE
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.
Dated:
______________
________________________
[Trustee
or Beneficiary]
