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Notice To Endorsers Of Default On Note
NOTICE TO ENDORSERS OF DEFAULT ON NOTE
Date: [Date of Notice]
[First Name of Recipient] [Last Name of Recipient]
[Company Name of Recipient]
[Street Address of Recipient]
[City of Recipient], [State of Recipient]
[Zip Code of Recipient]
[Country of Recipient]
Dear [Mr./Mrs.] [Last Name of Recipient]:
Be hereby notified that, due to payments in arrears, [Name of Borrower], "Borrower", is now considered in default under a certain promissory note in the amount of $ [Amount of Note], dated [Date of Note]. Under the terms and conditions of the note, the entire amount of [Total Amount Due], including interest accrued to date, is now due and payable. As endorser of said note, you are legally liable to pay this amount.
If said amount is not paid, or the default is not corrected within [Days to Pay] of this letter, collection proceedings will be instituted, the costs of which (including attorney fees) you will also be liable for.
Sincerely,
Signature Date