Note: When preparing this form, the attorney should carefully review Tex. Prop. Code §§ 51.0001, 51.0025, and 51.0075 and Tex. Bus. & Com. Code §§ 3.203 and 3.301 to ensure any reference to a person accurately describes the role the person holds or performs in the context of a foreclosure proceeding, e.g., references to “noteholder,” “beneficiary,” “owner,” “lender,” “obligor of the debt,” “mortgagor,” “mortgagee,” or “mortgage servicer” as appropriate.
Letter of Strict Compliance
[Date]
[Name and address of borrower]
Re: $[amount] Promissory Note (the “Note”) executed by [name of borrower] (“Borrower”), payable to the order of [name of lender] (“Lender”), given pursuant to that one certain loan agreement between Borrower and Lender dated [date] (the “Loan Agreement”), secured by Deed of Trust dated [date], given to [name of trustee], Trustee, recorded in [recording data] of the real property records of [county] County, Texas (the “Deed of Trust”)
[Salutation]
This firm has been retained by [name of holder] (“Holder”), which is the current owner and holder of the Note and Deed of Trust, referenced above. The Note, Deed of Trust, Loan Agreement, and any and all other documents executed by or on behalf of Borrower in connection with the Note or Loan Agreement are collectively referred to herein as the “Loan Documents.”
Borrower has failed to comply strictly with certain provisions of the Loan Documents, including, without limitation [specify which sections of which instrument have been violated or otherwise describe defaults with particularity]. This letter does not purport to be an exhaustive or historical list of all noncompliance with the Loan Documents.
To date, Holder has not elected to declare a default as a result of such failure to adhere strictly to the requirements of the Loan Documents.
This letter is notice to you that Holder will hereafter require strict compliance with all provisions of the Loan Documents, and Borrower’s failure to comply strictly with ALL of the terms and conditions thereof will result in Holder’s declaration of a default, in accordance with the provisions of the Loan Documents, and exercise by Holder of the remedies provided therein.
This letter is being sent as a courtesy only and shall in no way be deemed to obligate Lender to give Borrower or anyone else any other notices of any kind in connection with the Loan Documents.
All waiver provisions contained in the Loan Documents shall remain in full force and effect and shall not be deemed to have been waived by Lender as a result of delivery of this letter. Nothing contained in this letter shall be deemed to limit, amplify, or modify the terms, or otherwise affect the Loan Documents.
Our firm shall retain a copy of your loan file and has been instructed by Holder to commence formal foreclosure proceedings and notices in the event of a future default.
Should you have any questions, please do not hesitate to contact me.
Sincerely yours,
[Name of attorney]
State Bar No.:
[Email address]
[Address]
[Telephone]
[Telecopier]
Certified Mail No. [number]
Return Receipt Requested
c: [names of guarantors]
c: [name of holder or client contact]