Letter - NOTICE OF DEMAND FOR PAYMENT OF PROPERTY WITH CAVEAT
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In accordance with the ____________________ Code, or __________________ law,____________________ hereby gives notice that it has a caveat upon property stored within their facilities by you, for your account, or in which you claim an interest, amounting to the sum of ($------)which is now due and described as follows:
The goods against which the caveat of this company exists consists of _______________________________________________________________________
__________________ received on _____________________, as evidenced by our warehouse receipt under Lot No. _____________, issued in the name of _______________________________.
We hereby demand that the amount of ($------) be paid in cash, or by money order or bank cheque on or before _________________, and notify you that unless said claim is paid within the herein specified time, the goods will be advertised for sale and sold at Public Auction at our warehouse, or Public Auction house located at _________________________ on _________________, sale beginning at ____.
The proceeds of such sale shall be applied to the payment of the amount of the caveat, including reasonable charges of notice, sale and cost of advertising. If there is a deficiency after said sale, you shall be held liable for said deficiency and judgment may be entered against you. No employee or agent of this Company has the authority to permit the release or withdrawal of any portion of the goods from a public auction sale upon receipt of a payment on account of less than the entire amount due, except by written agreement. The acceptance of a payment of less than the full amount due in the absence of a written agreement shall not constitute a waiver on the part of this Company to proceed with the herein described sale.
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