Foreclosure Notice
Official courthouse record · Indexed in NoticeRegistry archive · AI-enriched for research
Crosby Lending 2 LLC will sell at public auction the pledgee interest in 40 Sunnyside Terr LLC after events of default under a Pledge and Security Agreement dated August 7, 2025. The sale enforces UCC security rights; purchasers may acquire the pledged entity interest.
Key Takeaways
- Secured party is Crosby Lending 2 LLC enforcing UCC rights
- Sale is of pledgee interest in 40 Sunnyside Terr LLC
- Action follows Events of Default under Aug 7, 2025 agreement
- Sale will be conducted at public auction under UCC procedures
- Published
- Category
- Foreclosure
If you don't respond
If no action is taken, the Secured Party will proceed with the public auction of the pledged interest, resulting in loss of the Pledgor's ownership interest; no specific auction date is provided in this notice.
What to do next
- 1
Contact the Secured Party
Reach out to Crosby Lending 2 LLC for auction details, timing, and redemption options; contact info not provided in notice.
- 2
Review pledge agreement
Examine the Pledge and Security Agreement (dated Aug 7, 2025) and any UCC-1 filings to understand claims and timelines.
- 3
Consult an attorney
If you are the Pledgor or have an interest, get legal advice immediately to explore defenses or redemption rights.
Frequently asked questions
- What is being sold in this notice?
- The Secured Party will auction the Pledgor's pledged interest in 40 Sunnyside Terr LLC and related rights.
- Who is conducting the sale?
- Crosby Lending 2 LLC, the secured party under the Pledge and Security Agreement, is conducting the sale.
- Why is the sale happening?
- The sale follows Events of Default under the Pledge and Security Agreement dated August 7, 2025, allowing enforcement of UCC security rights.
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Legal terms in this notice
- Pledge and Security Agreement
- A contract where a borrower gives an asset as collateral to secure a loan.
- UCC-1 Filing Statement
- A public record that notifies others a secured party has a lien on specified collateral.
- Article 9 (UCC)
- Uniform Commercial Code rules that govern secured transactions and enforcement of collateral.
- Share Certificate
- A document evidencing ownership interest in a company, used here as pledged collateral.
Full Notice Text
NOTICE OF SALE PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform Commercial Code as enacted in New Jersey, by virtue of certain Event(s) of Default under that certain Pledge and Security Agreement dated as of August 7, 2025 (the “Pledge Agreement”), executed and delivered by Wilton E. Holder (the “Pledgor”), and in accordance with it rights as holder of the security, Crosby Lending 2 LLC (the “Secured Party”), by virtue of possession of that certain Share Certificate held in accordance with Article 8 of the Uniform Commercial Code of the State of New York (the “Code”) and by virtue of those certain UCC-1 Filing Statement made in favor of Secured Party, all in accordance with Article 9 of the Code, Secured Party will offer for sale, at public auction, (i) all of Pledgor's right, title, and interest in and to the following: 40 Sunnyside Terr LLC (the “Pledged Entity”), and (ii) certain related rights and property relating thereto (collectively,