New Mexico Sample Letter Transmitting UCC-1 Forms for a Loan Closing

• Category: Letters - Loans and Lending - UCC Closing
• State: Multi-State
• Control #: US-0158LTR
• Format: Word; Rich Text

Description

This form is a sample letter in Word format covering the subject matter of the title of the form. [Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Loan Closing — Transmitting UCC-1 Forms Dear [Recipient's Name], I hope this letter finds you well. I am writing to transmit the UCC-1 forms required for the loan closing process. As per our previous discussions and the loan agreement signed between [Lender's Name] and [Borrower's Name], these forms are an essential component to secure the assets offered as collateral in the loan transaction. [UCC-1 Form Explanation] The UCC-1 form, also known as the Uniform Commercial Code-1 form, is a legal document filed by the lender to establish their priority or interest in the borrower's personal property pledged as collateral. By filing this form with the appropriate authority, the lender ensures that they have a claim on the specified collateral, protecting their investment. It provides potential creditors with information regarding existing liens on the assets in question. [Types of New Mexico UCC-1 Forms] In New Mexico, there are various types of UCC-1 forms, including: 1. Financing Statement (Form UCC1): This is a general-purpose UCC-1 form used to create a security interest in the borrower's personal property. 2. Additional Collateral (Form UCC1Ad): If additional collateral is being added to the original loan agreement, this form is used to provide details about the newly included assets. 3. Amendment (Form UCC3): If any changes need to be made to the original UCC-1 filing, an amendment form is filed to update the information on record. 4. Continuation (Form UCC3Ad): This form is used to extend the effectiveness of the original UCC-1 filing beyond its initial expiration period. 5. Termination (Form UCC3T): When the loan is paid off or the collateral is released, this form signifies the termination of the lender's claim to the assets. [Transmitting UCC-1 Forms] Enclosed with this letter, please find the completed UCC-1 forms based on our loan agreement. They have been diligently reviewed and accurately completed to ensure compliance with the State of New Mexico's filing requirements. Please verify the information provided and file these forms with the appropriate authorities within the designated timeframe to secure our lien on the pledged collateral. If you encounter any difficulties or require additional documents, please do not hesitate to contact me at [Your Email Address] or [Your Phone Number]. I am here to assist you throughout this process. Thank you for your prompt attention to this matter. I look forward to a successful loan closing and a mutually beneficial relationship between all parties involved. Sincerely, [Your Name]

[Your Name] [Your Address] [City, State, ZIP] [Email Address] [Phone Number] [Date] [Recipient's Name] [Recipient's Address] [City, State, ZIP] Subject: Loan Closing — Transmitting UCC-1 Forms Dear [Recipient's Name], I hope this letter finds you well. I am writing to transmit the UCC-1 forms required for the loan closing process. As per our previous discussions and the loan agreement signed between [Lender's Name] and [Borrower's Name], these forms are an essential component to secure the assets offered as collateral in the loan transaction. [UCC-1 Form Explanation] The UCC-1 form, also known as the Uniform Commercial Code-1 form, is a legal document filed by the lender to establish their priority or interest in the borrower's personal property pledged as collateral. By filing this form with the appropriate authority, the lender ensures that they have a claim on the specified collateral, protecting their investment. It provides potential creditors with information regarding existing liens on the assets in question. [Types of New Mexico UCC-1 Forms] In New Mexico, there are various types of UCC-1 forms, including: 1. Financing Statement (Form UCC1): This is a general-purpose UCC-1 form used to create a security interest in the borrower's personal property. 2. Additional Collateral (Form UCC1Ad): If additional collateral is being added to the original loan agreement, this form is used to provide details about the newly included assets. 3. Amendment (Form UCC3): If any changes need to be made to the original UCC-1 filing, an amendment form is filed to update the information on record. 4. Continuation (Form UCC3Ad): This form is used to extend the effectiveness of the original UCC-1 filing beyond its initial expiration period. 5. Termination (Form UCC3T): When the loan is paid off or the collateral is released, this form signifies the termination of the lender's claim to the assets. [Transmitting UCC-1 Forms] Enclosed with this letter, please find the completed UCC-1 forms based on our loan agreement. They have been diligently reviewed and accurately completed to ensure compliance with the State of New Mexico's filing requirements. Please verify the information provided and file these forms with the appropriate authorities within the designated timeframe to secure our lien on the pledged collateral. If you encounter any difficulties or require additional documents, please do not hesitate to contact me at [Your Email Address] or [Your Phone Number]. I am here to assist you throughout this process. Thank you for your prompt attention to this matter. I look forward to a successful loan closing and a mutually beneficial relationship between all parties involved. Sincerely, [Your Name]