Wake North Carolina UCC1-AD Financing Statement Addendum is a legal document that serves as an extension or addition to the UCC1 Financing Statement in the state of Wake, North Carolina. This addendum provides supplemental information about the secured party and the collateral associated with the original financing statement. The UCC1-AD Financing Statement Addendum is typically used when there is a need to provide extra details that cannot fit within the original financing statement. It allows for a more comprehensive and accurate representation of the debtor-creditor relationship, helping to ensure clarity and transparency. There are several types of UCC1-AD Financing Statement Addendums that can be used depending on the specific circumstances. These types include: 1. General Addendum: This addendum is used to provide general information and additional details that are not covered in the UCC1 Financing Statement. It may include information such as additional collateral, amendments to existing information, or any other relevant details. 2. Amendment Addendum: This type of addendum is used when there is a need to amend or modify any information provided in the original financing statement. It allows for corrections, updates, or changes to be made to ensure accuracy and compliance with the latest agreements between the parties involved. 3. Continuation Addendum: A continuation addendum is used to extend the duration of the original financing statement when it is about to expire. It ensures that the secured party's interest in the collateral remains valid and enforceable for an extended period. 4. Termination Addendum: This addendum is used when there is a need to terminate or release the collateral described in the original financing statement. It signifies the end of the debtor-creditor relationship and removes any claim or interest the secured party had on the specified collateral. The Wake North Carolina UCC1-AD Financing Statement Addendum is an essential legal document that provides additional information and modifications to the original UCC1 Financing Statement. It helps to clarify the terms of the security interest and ensures all parties involved are aware of any changes or amendments made over time.
Wake North Carolina UCC1-AD Financing Statement Addendum
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