A G E N D A
OF THE PUBLIC FORECLOSURE SALE
CONDUCTED AT
THE COUNTY COURTHOUSE IN
COUNTY, TEXAS BY ____________________, SUBSTITUTE
TRUSTEE
ON ____________________, 20
I, ____________________, am the Substitute Trustee under a Deed of Trust (the “Deed of Trust”), dated ____________________, executed by ____________________ (“Grantor”), to ____________________, Trustee, for the benefit of ____________________ (the “Lender”). The Deed of Trust is filed as Document Number ________ in the Official Records of ____________________ County, Texas. The Deed of Trust covers both real and personal property, to which I will refer to as the “Property,” and which Property is more particularly described in the Deed of Trust and the Notice of Substitute Trustee’s Sale. The Property includes, but is not limited to, certain real property located in ____________________ County, Texas.
As Substitute Trustee, I hereby declare the foreclosure sale of the Property to be open. The Deed of Trust secures that certain promissory note (the “Note”) dated ____________________, in the original principal sum of $____________________ payable to the Lender. The Lender is the legal and equitable owner and holder of the Note.
Defaults have occurred under the Deed of Trust and the Note, and the total indebtedness evidenced by the Note and secured by the Deed of Trust has matured and has been declared to be due and payable by the Lender. Accordingly, the Lender has requested me to sell the Property at public auction in accordance with the provisions of the Deed of Trust and the laws of the State of Texas.
In compliance with such request, and as Substitute Trustee on behalf of the Lender, on _______________, 20___, I executed a Notice of Substitute Trustee’s Sale, giving notice of the sale of the Property, to be held on this the _____ day of _______________, 20___, and caused the Notice of Sale to be duly filed in the Office of the County Clerk of _______________ County, Texas, and to be duly posted at the county courthouse in _______________ County, Texas, for at least twenty-one (21) consecutive days prior to today. I also mailed the Notice of Substitute Trustee Sale by certified mail to each debtor obligated to pay the Note at least twenty-one (21) days prior to today as prescribed by law. The Notice of Substitute Trustee’ Sale reads as follows:
[Read the Notice of Substitute Trustee’s Sale
The Property is being sold subject to and without extinguishing all matters of record in the Official Records of _______________ County which are superior to the lien of the Deed of Trust, the lien of which is hereby being foreclosed and to all matters that a true and correct survey would reveal.
Any bidder who does not have immediately available cash or a cashier’s check for the full bid amount will be required to deliver the full amount of such cash bid to _______________, Substitute Trustee at his office address: _______________, _______________, in the form of a cashier’s check no later than _____ p.m. today Tuesday, ______________, 20___. If any such cash bidder fails to so deliver the full bid amount of such bidder’s cash bid by such date and time, I am authorized to and shall strike off and sell the Property to the next highest bidder who made a bid at this foreclosure sale as recorded in the records of the Substitute Trustee relating to this foreclosure sale and who fulfills the condition of having the full amount of his bid available at the time and at the address set forth in this paragraph. For this reason please make your bid for the Property even if you are not the highest bidder. I will record all bids in writing.
NOW, THEREFORE, but subject to the foregoing announced requirement relating to how and when such bid must be settled and paid for, the Property will now be sold to the highest bidder for cash, the proceeds to be applied in accordance with the provisions of the Deed of Trust and the Note. The Property is being conveyed in an “AS-IS” condition, and no title policy will be issued in connection with the sale.
I now call for bids on the Property. Each bidder will please state his or her name, for whom he or she is bidding, and the amount of each bid made.
Bids in the Order Made
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Name: |
Representing: |
Amount Bid: |
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1. |
The Lender |
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2 |
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3. |
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4. |
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5. |
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Do I here any further bids? Answer: None.
Explanation:
Hearing no further bids, I announce the Property to be sold to the Lender (“Purchaser”), the highest bidder. Going once, going twice, sold to Purchaser for $____________, the highest cash bid. This concludes the sale of the Property.
The following are the names and addresses of witnesses to this public sale:
WITNESS ADDRESS
1.
2.
3.
,
Substitute Trustee