[ 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 ] or write us at [ secured party's address ]. 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 have already sent you an explanation of the type requested 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 ]]. We are sending this notice to the following other people who have an interest in [ describe collateral ] or who owe money under your agreement: [ Names of all other debtors and obligors, if any ]
Source: L. 2001: Entire article R&RE, p. 1407, § 1, effective July 1.
Editor's note - Colorado legislative change: Colorado added the phrase "and mailing address" in subsection (a)(1)(C) and substituted "and" for "or" in subsection (a)(1)(D). Colorado added the phrase "or write us at [ secured party's address ]" in the form regarding how to learn the exact amount the debtor must pay. The uniform act's form regarding explanations reads: "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."
Structure Colorado Code
Title 4 - Uniform Commercial Code
Article 9 - Secured Transactions
§ 4-9-602. Waiver and Variance of Rights and Duties
§ 4-9-603. Agreement on Standards Concerning Rights and Duties
§ 4-9-604. Procedure if Security Agreement Covers Real Property or Fixtures
§ 4-9-605. Unknown Debtor or Secondary Obligor
§ 4-9-606. Time of Default for Agricultural Lien
§ 4-9-607. Collection and Enforcement by Secured Party
§ 4-9-609. Secured Party's Right to Take Possession After Default
§ 4-9-610. Disposition of Collateral After Default
§ 4-9-611. Notification Before Disposition of Collateral
§ 4-9-612. Timeliness of Notification Before Disposition of Collateral
§ 4-9-613. Contents and Form of Notification Before Disposition of Collateral: General
§ 4-9-615. Application of Proceeds of Disposition; Liability for Deficiency and Right to Surplus
§ 4-9-616. Explanation of Calculation of Surplus or Deficiency - Definitions
§ 4-9-617. Rights of Transferee of Collateral
§ 4-9-618. Rights and Duties of Certain Secondary Obligors
§ 4-9-619. Transfer of Record or Legal Title
§ 4-9-621. Notification of Proposal to Accept Collateral
§ 4-9-622. Effect of Acceptance of Collateral
§ 4-9-623. Right to Redeem Collateral
§ 4-9-625. Remedies for Secured Party's Failure to Comply With Article
§ 4-9-626. Action in Which Deficiency or Surplus Is in Issue
§ 4-9-627. Determination of Whether Conduct Was Commercially Reasonable