Bend Oregon UCC3 Financing Statement Amendment Addendum

• Category: Oregon Contracts - Uniform Commercial Code
• State: Oregon
• City: Bend
• Control #: OR-UCC3-A
• Format: PDF

Description

UCC3 - Financing Statement Amendment Addendum - Oregon - For use after July 1, 2001. This form is to be used as an addendum to the financing statement amendment. This form is to be filed in the real estate records. The Bend, Oregon UCC3 Financing Statement Amendment Addendum is an important legal document in the realm of secured transactions. It is used to make amendments or updates to an existing UCC3 financing statement, which is a public record that establishes a lender's security interest in a debtor's personal property. The UCC3 Financing Statement Amendment Addendum is necessary when certain changes need to be made to the original financing statement. These changes can include revising debtor information, updating collateral descriptions, adding or removing secured parties, or addressing any other modifications that impact the validity and effectiveness of the financing statement. In Bend, Oregon, there are various types of UCC3 Financing Statement Amendment Addendums that serve different purposes and scenarios. Some common types include: 1. Debtor Information Update Addendum: This addendum is used when there are changes in the debtor's name, address, or organizational information. It ensures that the financing statement is accurate and up to date. 2. Collateral Description Modification Addendum: In cases where there are alterations to the collateral initially listed in the financing statement, this addendum is utilized. It ensures that the secured parties are aware of the revised collateral details. 3. Secured Party Amendment Addendum: If there are modifications to the secured parties named in the original financing statement, this addendum is employed. It allows for the addition or removal of secured parties involved in the transaction. 4. Continuation Statement Addendum: This addendum is used to extend the effectiveness of the financing statement beyond its expiration date, typically five years after the initial filing. It ensures that the security interest remains valid and enforceable for an extended period. 5. Termination Addendum: When a secured party wants to release their security interest, this addendum is filed. It marks the end of the financing statement's effectiveness and allows for the removal of the secured party's name from public record. The Bend, Oregon UCC3 Financing Statement Amendment Addendum plays a vital role in maintaining accuracy and transparency in secured transactions. By allowing for necessary changes to the original financing statement, it ensures that all parties involved are informed and protected. It is vital to consult legal professionals or the relevant authorities when drafting and filing these addendums to comply with the applicable laws and regulations.

The Bend, Oregon UCC3 Financing Statement Amendment Addendum is an important legal document in the realm of secured transactions. It is used to make amendments or updates to an existing UCC3 financing statement, which is a public record that establishes a lender's security interest in a debtor's personal property. The UCC3 Financing Statement Amendment Addendum is necessary when certain changes need to be made to the original financing statement. These changes can include revising debtor information, updating collateral descriptions, adding or removing secured parties, or addressing any other modifications that impact the validity and effectiveness of the financing statement. In Bend, Oregon, there are various types of UCC3 Financing Statement Amendment Addendums that serve different purposes and scenarios. Some common types include: 1. Debtor Information Update Addendum: This addendum is used when there are changes in the debtor's name, address, or organizational information. It ensures that the financing statement is accurate and up to date. 2. Collateral Description Modification Addendum: In cases where there are alterations to the collateral initially listed in the financing statement, this addendum is utilized. It ensures that the secured parties are aware of the revised collateral details. 3. Secured Party Amendment Addendum: If there are modifications to the secured parties named in the original financing statement, this addendum is employed. It allows for the addition or removal of secured parties involved in the transaction. 4. Continuation Statement Addendum: This addendum is used to extend the effectiveness of the financing statement beyond its expiration date, typically five years after the initial filing. It ensures that the security interest remains valid and enforceable for an extended period. 5. Termination Addendum: When a secured party wants to release their security interest, this addendum is filed. It marks the end of the financing statement's effectiveness and allows for the removal of the secured party's name from public record. The Bend, Oregon UCC3 Financing Statement Amendment Addendum plays a vital role in maintaining accuracy and transparency in secured transactions. By allowing for necessary changes to the original financing statement, it ensures that all parties involved are informed and protected. It is vital to consult legal professionals or the relevant authorities when drafting and filing these addendums to comply with the applicable laws and regulations.