Notice of foreclosure on mortgage loan
for mortgage resolution
November 14, 2002
this page is at http://site.www.umb.edu/faculty/salzman_g/Grass/Trust/2002-11-13Foreclosure-1.htm
Subject: Mortgage payment default
Date: Date: Thu, 14 Nov 2002 13:27:09 -0600
From: George Salzman <george.salzman@umb.edu>
To: Boysen Hodgson and Jessamyn Smyth <boysenhodgson@aol.com>
CC: Eric Entemann <eentemann@hotmail.com>
Grassroots Trust <grassroots-infrastructure-trust@topica.com>
Thursday, November 14, 2002
Dear Boysen Hodgson and Jessamyn Smyth,
Following your default on the August mortgage payment for more than one month (see attached file), I attempted, beginning with my letter of October 5, to resolve the matter with an arrangement satisfactory to all of us, without resort to exercising my option to terminate the mortgage loan.
However, Attorney Richard M. Evans' e-mail of November 11 to me (with CC to you), makes unambiguous the failure of that effort to find a mutually satisfactory arrangement.
Paragraph 4 of the promissory note of October 1, 2001, signed by you and witnessed by Richard M. Evans, states, "If default be made in the payment of any installments under this note and the default is not made good prior to the due date of the next installment, the unpaid balance of the principal sum and accrued interest shall at once become due and payable without notice at the option of the holder of this note."
The balance of the principal sum is $65,939.20. The accrued interest from Nov 1 to Nov 14 is 14/30 of $274.75, or $128.22. The total is $66,067.42. Please send payment of this amount for deposit to my bank account at once.
Sincerely yours,
George Salzman
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Name: 2002-11-14MortgagePayments.rtf
Type: Winword File (application/rtf)
Encoding: base64
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