Notice of Default & Rent Acceleration
___________ , 20____
Dear ______________ ,
Please be advised that the undersigned is the holder of a certain promissory note made by you dated ________________ , 20____ in the original principal amount of $________________.
You are hereby notified that you have defaulted under said note because you have failed to pay the installment due ____________________, 20__, in the amount of $_______________.
Therefore, demand is hereby made upon you for full payment of the entire balance due on said note in the amount of $_____________, including interest accrued to date.
If the entire amount due is not received on or before ____________, 20____ I shall instruct legal counsel to commence legal proceedings against you.
You should be aware that the note obligates you to pay, in addition to the principal balance and interest, costs of collection, including attorney’s fees.
Your prompt attention to the foregoing is anticipated.
Very truly yours,