Notice of Private Sale of Collateral

Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

Date and Debtor Information

Date: {{date}}

To: {{debtor_name}}

{{debtor_address}}

Notice of Private Sale of Collateral

Dear {{debtor_name}},

This serves as formal notice that pursuant to the terms of the loan agreement dated {{agreement_date}} (the “Agreement”) between {{company_name}} (the “Secured Party”) and {{debtor_name}} (the “Debtor”), and in accordance with applicable laws governing secured transactions, you are hereby notified of our intent to dispose of the collateral described below by private sale.

Description of Collateral

The collateral to be sold is described as follows:

{{description_of_collateral}}

Reason for Sale

This action is being taken due to your default in payment obligations under the Agreement, specifically for failure to make payments totaling {{outstanding_amount}} due by {{default_date}}.

Proposed Sale Details

The Secured Party intends to sell the collateral by private sale.

The proposed date of sale or after which the sale will occur is: {{proposed_sale_date}}.

The sale will be conducted in a commercially reasonable manner. The proceeds of the sale will be applied to the outstanding indebtedness, including any costs and expenses incurred in connection with the sale.

Debtor's Rights

You have the right to redeem the collateral by paying the full amount of your outstanding obligation, including any accrued interest, late fees, and reasonable expenses incurred by the Secured Party in repossessing, preserving, preparing for sale, and selling the collateral, at any time before the proposed sale date.

The total amount required to redeem the collateral as of {{redemption_calculation_date}} is {{redemption_amount}}. This amount is subject to change based on additional accrued interest and expenses.

Deficiency or Surplus

Please be advised that you may be liable for any deficiency remaining after the sale of the collateral and the application of the proceeds to your outstanding debt. Conversely, if there is any surplus remaining after satisfaction of your obligation and payment of expenses, it will be remitted to you.

Contact Information

For further information regarding your outstanding obligations or the proposed sale of collateral, please contact:

{{contact_person}}

{{contact_title}}

{{contact_phone}}

{{contact_email}}

Signature Block

Sincerely,

{{authorised_signature}}

{{printed_name}}

{{title}}

{{company_name}}