Statement of reasons for forfeiture.
Please take notice that under that certain contract of sale, dated _________, [recorded _________[date] in _________], purchasers have not made the principal payment of $_____ due _________[date] or the payment of interest in the sum of $_____ due on that date, and, accordingly, are in arrears in the sum of $_____. Accordingly, sellers have elected to declare the purchasers to be in default, and the entire principal of the contract in the sum of $_____, plus interest of $_____ as of _________[date], is by this notice declared to be past due and unpaid. In addition, there is due to sellers all reasonable costs in connection with the preparation, recording and service of this notice.
You and each of you, as your rights may appear, are notified that the above contract will stand forfeited and cancelled unless purchasers, or their heirs or legal representatives, within _________ days after completed service of this notice, perform the terms and conditions of the contract referred to above which are in default and in addition pay the reasonable costs in connection with the service of this notice.
You are further notified that this notice is served on you pursuant to _________[statutory citation], and that, if the above defaulted conditions are not performed and the contract placed in good standing within the time as above provided, proof and record of service will be filed in the office of the Recorder of _________ County, State of _________, and the same shall constitute constructive notice to all parties of the due forfeiture and cancellation of the contract and all rights of _________ as purchasers and parties in possession shall be cut off and cancelled and all rights of _________ as to the above premises will be automatically terminated.
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