Form A - Notice Of Exercising Power Of Sale printable pdf download

SEE OTHER SIDE FOR AN IMPORTANT CONSUMER SCAM ALERT

NOTICE OF EXERCISING POWER OF SALE

Form A The Real Property Act

1. TO:

AND TO WHOM IT MAY CONCERN

2. CIVIC ADDRESS / LOCATION _______________________________________________________________

3. LAND DESCRIPTION

TITLE NUMBER(S) _______________

see schedule

4. ______________ Condominium Corporation No. ____ (the “Corporation”) gives notice that it is hereby commencing

sale and foreclosure proceedings under The Real Property Act, as allowed by The Condominium Act (the “Act”), based upon

the following:

(a) As a result of a default in the payment of monies owing by you to the Corporation, a lien against the land described above

was created in favour of the Corporation and was registered in the ______________________ Land Titles Office as number

_______________________ (the “Lien”). The default has continued for at least one month.

(b) By virtue of the Act, the Corporation has the right to enforce the Lien in the same manner as a mortgage is enforced under

The Real Property Act, through sale and foreclosure proceedings.

(c) By virtue of section 164 of the Act, the Lien has priority over every registered and unregistered encumbrance that secures

the payment of money or the performance of any other obligation and including a charge, mortgage or lien, unless stated

otherwise in the Act or the regulations thereto.

(d) The DATE OF DEFAULT in payment that created the Lien is ______________________ .

(e) The particulars of the default in payment are as follows: Delete inappropriate statement(s)

(i)

A default in the payment of common expenses assessed to you in the amount of $______________ occurred on the

_______ day of _________________, 20 _____.

(ii)

A default in the payment of reserve fund contributions assessed to you in the amount of $______________ occurred

on the ______ day of _________________, 20 _____.

(f) As of the ______ day of ____________________, 20_____ , the total amount of $______________ has not been

paid and is a debt due to the Corporation. This amount includes the default specified above, together with such penalties

and interest on the unpaid amount as are specified in the Declaration and / or By-laws of the Corporation, all payments of

common expenses and / or reserve fund contributions which have become due subsequent to the initial default and have not

yet already been paid.

see schedule

(g) The Corporation has incurred and is incurring costs as a result of such default for which you may be liable. Those costs

may also include all reasonable legal costs and expenses incurred by the Corporation in collecting or attempting to collect the

unpaid amount and interest owing, including the costs of preparing and registering the Lien and its discharge.

5. YOU MAY STOP THESE PROCEEDINGS AT ANY TIME PRIOR TO THE SALE OF THE PROPERTY OR THE

ISSUANCE OF TITLE TO THE CORPORATION BY PAYING ALL MONIES OWING BY YOU TO THE CORPORATION.

(a) DETAILS OF HOW TO STOP THESE PROCEEDINGS: Strike out inappropriate statement(s)

(i)

Remedy the default set out in paragraph 4(e) by paying the amount specified in 4(f) above; and

(ii)

Pay the costs of the Corporation for these proceedings; and

(iii)

Pay to the Corporation interest at the rate of __________ % per annum on the total amount owing specified in 4(f)

above, from the ______ day of ____________, 20__ to the date of payment (currently $ ___________ per day); and

(iv)

Pay to the Corporation any further assessments of the common expenses which may have become due after the

________ day of ____________________, 20__, together with interest at the rate of __________ % per annum

from the date that they were due to the date of payment to the Corporation.

see schedule

Form A - Notice Of Exercising Power Of Sale

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