Form 14-4

Notice of Default and Intent to Accelerate

[Date]

[Name and address of borrower]

Re:   [describe note and loan documents]

[Salutation]

This letter is to give you notice of default under the referenced loan documents. This default consists of [describe default].

Unless the default is cured by [date], the mortgagee intends to enforce its rights and remedies under the loan documents. Specifically, the mortgagee intends to accelerate the maturity of the note and demand payment for the full unpaid principal balance, together with accrued but unpaid interest and all fees and expenses, as allowed by law. If the amount due is not timely paid, the mortgagee intends to foreclose the lien under the loan documents. [Include if applicable: In addition, the mortgagee demands that you pay to the mortgagee the proceeds of all accrued but unpaid rent as of the date you receive this letter and all rent that accrues after you receive this letter. Payment of the proceeds should be made to [name of mortgagee and address for payments]. The tenant[s] will be instructed to pay all rents to the mortgagee until further notice, in accordance with [the deed of trust/[specify instrument]] and the Texas Property Code.]

You are notified that if the default is not cured within twenty days from the date of posting of this letter, the mortgagee intends to enforce its rights under the loan documents. Specifically, the mortgagee intends to accelerate the maturity of the note and demand payment for the full unpaid principal balance, together with accrued but unpaid interest and all fees and expenses, as allowed by law. If the amount due is not timely paid, the mortgagee intends to foreclose the lien under the loan documents.

If you have any questions, please consult your legal counsel.

Sincerely yours,

   
[Name of attorney]

Certified Mail No. [number]

Return Receipt Requested

c:   [name of borrower], by first-class mail