Notice of default
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]
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