Understanding the Notice of Default continued...

Nonjudicial foreclosure proceedings under the power of sale contained in the deed of trust is commenced when the trusteeor beneficiary executes and records a "Notice of Default." The notice of default when recorded provides "ConstructiveNotice" of a default in the terms and provisions of said deed of trust. The notice of default identifies the deed of trust bygiving the recording information; the name(s) of the trustor(s); that a default has occurred and the details thereof; plus, itmust state that the beneficiary has elected to proceed to sale (foreclose), to satisfy the obligation secured by the deed oftrust. Note: Any material discrepancies could void the entire trustee's sale proceedings.

Recording Information: The date and time ofrecordation; the file, document or instrumentnumber; and/or the book and page(s) of theofficial records are assigned and noted bythe county recorder in order to establish the recording reference.

County Recorder's Stamps: The large stamp reflects the recording reference of the document and indicates the name of thecounty and county recorder. The smallerstamp shows the recording fees.

Cautionary Notes: These are notes regarding;foreclosure due to default; rights to reinstate;rights to stop foreclosure; and the amountnecessary to reinstate the obligations securedby the deed of trust in foreclosure.

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Note: The information provided is deemed reliable but not guaranteed. Consult you legal professional for advice regarding your specific situation.

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Beneficiary Information: The name, addressand telephone number of the beneficiary(who should be contacted to determinethe amount necessary to reinstate or payoff the deed of trust in foreclosure) isinserted in this space

Note Regarding Seeking Advice: This is adirective relating to any questions pertainingto the foreclosure proceedings.

Pertinent information About the Deed ofTrust: In this space, information concerningthe deed of trust in default is shown. It includesthe names of the original trustee; trustor(s);beneficiary(ies); date of execution; recordingreference; and the name of the county inwhich said deed of trust was recorded.

Statement of Default/Breach: In this space,detailed information concerning the defaultor breach of the obligation that has occurred.

Date of Execution: Generally, this is thedate on which the document is executed(signed), which is often the equivalent dateof preparation or drawing. Execution maytake place after preparation or drawing, but never before.

Signature of the Beneficiary: On this line,the beneficiary signs (executes) the Notice of Default. The trustee may be authorized to act on behalf of the beneficiary.

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