# Non-Judicial Foreclosure Agreement
**This Non-Judicial Foreclosure Agreement (“Agreement”) is made this [Date] by and between:**
**Lender:**
[Name of Lender]
[Address of Lender]
[City, State, Zip Code]
[Email Address]
[Phone Number]
**AND**
**Borrower:**
[Name of Borrower]
[Address of Borrower]
[City, State, Zip Code]
[Email Address]
[Phone Number]
**RECITALS**
WHEREAS, the Borrower executed a Promissory Note dated [Date of Note] in the principal amount of [Principal Amount] secured by a Deed of Trust recorded on [Date of Recording], in the official records of [County Name], [State] as Instrument Number [Instrument Number], encumbering the property located at [Property Address] (“Property”); and
WHEREAS, the Borrower has defaulted on the Loan by failing to make the required payments; and
WHEREAS, the Lender desires to initiate foreclosure proceedings on the Property in accordance with applicable state law.
NOW, THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties agree as follows:
## 1. Default Notification
The Lender shall provide the Borrower with a written notice of default, which includes:
- The nature of the default.
- The amount owed.
- The right to cure the default.
The notification shall be delivered via [mail/email/personally] to the Borrower's address listed above.
## 2. Right to Cure
The Borrower shall have the right to cure the default within [Number of Days] days from the date of the default notice. To cure the default, the Borrower must make the complete payment of the amount due, including any late fees and applicable costs.
## 3. Notice of Sale
If the Borrower fails to cure the default within the allowed time frame, the Lender may proceed with the non-judicial foreclosure process. The Lender shall schedule a sale of the Property by providing a Notice of Sale to the Borrower and posting conspicuously on the Property and in a qualified publication. The Notice shall include:
- The date, time, and location of the sale.
- A legal description of the Property.
- The default amount and any additional costs.
## 4. Sale Process
The sale will be conducted in accordance with [State] laws governing non-judicial foreclosure sales. The Lender shall have the discretion to set the minimum bid and shall apply any sale proceeds first to the costs of the sale, then to the outstanding balance of the Loan.
## 5. Post-Sale Rights
If the Property is sold during the foreclosure process, any remaining rights and obligations of the Borrower shall be governed by applicable state law.
## 6. Waiver of Defenses
The Borrower waives any defenses, claims, or counterclaims that may arise out of this foreclosure process, to the extent permissible under law.
## 7. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
## 8. Entire Agreement
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings, and negotiations, whether written or oral.
## 9. Amendments
No amendment or modification of this Agreement shall be valid unless made in writing and signed by both parties.
## 10. Severability
If any provision of this Agreement is found to be unenforceable or invalid, the remaining provisions shall continue in full force and effect.
IN WITNESS WHEREOF, the parties have executed this Non-Judicial Foreclosure Agreement as of the day and year first above written.
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**Lender Signature:**
_____________________________
[Name of Lender]
[Title]
[Date]
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**Borrower Signature:**
_____________________________
[Name of Borrower]
[Date]
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**Notarization (if required):**
State of ____________
County of ___________
On this ___ day of ____________, 20__, before me, a Notary Public, personally appeared [Names of the Signers], known to me to be the individuals described in this document and acknowledged that they executed it for the purposes stated herein.
_____________________________
Notary Public
My Commission Expires: ___________
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**End of Document**