UCC3 - Financing Statement Amendment Addendum - Arizona - 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.
Gilbert Arizona UCC3 Financing Statement Amendment Addendum is a legal document used to modify or update a previously filed UCC3 Financing Statement in the state of Arizona. This addendum serves as an amendment to the original financing statement, providing important information regarding changes or additions to the initial filing. In Gilbert, Arizona, there are two main types of UCC3 Financing Statement Amendment Addendums: the Amendment Addendum for Termination and the Amendment Addendum for Continuation. The Amendment Addendum for Termination is used when a secured party no longer has an interest in the collateral listed in the original financing statement. This addendum effectively terminates the secured party's claim and ensures that they are no longer associated with the collateral. On the other hand, the Amendment Addendum for Continuation is utilized when a secured party wishes to extend the duration of the financing statement. This addendum is crucial to maintain priority over other parties who may claim an interest in the collateral. By extending the filing, the secured party ensures that their original claim remains effective and enforceable. Both types of UCC3 Financing Statement Amendment Addendums require specific information to be included. This typically includes the original financing statement number, the date of the initial filing, the names of the debtor and secured party, a detailed description of the collateral, and the specific amendments or updates to be made. It is important to note that these addendums must comply with the rules and regulations set forth by the Arizona Uniform Commercial Code (UCC) and the Office of the Secretary of State. Failure to accurately complete and file the UCC3 Financing Statement Amendment Addendum may result in a loss of priority or potential legal complications. In conclusion, the UCC3 Financing Statement Amendment Addendum in Gilbert, Arizona, plays a crucial role in modifying or extending the original financing statement. Whether it is for the termination of a secured party's interest or the continuation of the filing, these addendums must be completed with precision to ensure accuracy and compliance with state regulations.Gilbert Arizona UCC3 Financing Statement Amendment Addendum is a legal document used to modify or update a previously filed UCC3 Financing Statement in the state of Arizona. This addendum serves as an amendment to the original financing statement, providing important information regarding changes or additions to the initial filing. In Gilbert, Arizona, there are two main types of UCC3 Financing Statement Amendment Addendums: the Amendment Addendum for Termination and the Amendment Addendum for Continuation. The Amendment Addendum for Termination is used when a secured party no longer has an interest in the collateral listed in the original financing statement. This addendum effectively terminates the secured party's claim and ensures that they are no longer associated with the collateral. On the other hand, the Amendment Addendum for Continuation is utilized when a secured party wishes to extend the duration of the financing statement. This addendum is crucial to maintain priority over other parties who may claim an interest in the collateral. By extending the filing, the secured party ensures that their original claim remains effective and enforceable. Both types of UCC3 Financing Statement Amendment Addendums require specific information to be included. This typically includes the original financing statement number, the date of the initial filing, the names of the debtor and secured party, a detailed description of the collateral, and the specific amendments or updates to be made. It is important to note that these addendums must comply with the rules and regulations set forth by the Arizona Uniform Commercial Code (UCC) and the Office of the Secretary of State. Failure to accurately complete and file the UCC3 Financing Statement Amendment Addendum may result in a loss of priority or potential legal complications. In conclusion, the UCC3 Financing Statement Amendment Addendum in Gilbert, Arizona, plays a crucial role in modifying or extending the original financing statement. Whether it is for the termination of a secured party's interest or the continuation of the filing, these addendums must be completed with precision to ensure accuracy and compliance with state regulations.