Foreclosure Notice
Official courthouse record · Indexed in NoticeRegistry archive · AI-enriched for research
Crosby Lending 2 LLC will sell at public auction the pledged ownership interest in 40 Sunnyside Terr LLC due to Events of Default under a Pledge and Security Agreement dated August 7, 2025. The sale arises from UCC-based enforcement of pledged collateral.
Key Takeaways
- Secured party is selling pledged ownership in 40 Sunnyside Terr LLC
- Sale is by public auction under UCC Article 9 enforcement
- Default under Pledge and Security Agreement dated August 7, 2025
- Sale affects the pledgor Wilton E. Holder's ownership interest
- Published
- Category
- Foreclosure
If you don't respond
If interested parties take no action, the secured party will proceed with the public auction to sell the pledged ownership interest; no date provided for intervention will prevent the sale.
What to do next
- 1
Contact the Secured Party
Reach out to Crosby Lending 2 LLC (contact info not provided) to inquire about cure options, auction details, or redemption.
- 2
Seek legal advice
Consult an attorney promptly to review the Pledge Agreement (dated August 7, 2025) and explore remedies to stop or delay the sale.
Frequently asked questions
- What is being sold in this notice?
- The pledged ownership interest in 40 Sunnyside Terr LLC and related rights will be sold at public auction.
- Who is conducting the sale?
- Crosby Lending 2 LLC, the secured party holding the pledged collateral, is conducting the sale.
- Why is the sale happening?
- Because of Events of Default under a Pledge and Security Agreement dated August 7, 2025, allowing enforcement under the UCC.
- Can the pledgor stop the sale?
- The notice does not list a cure period or court action; typically the pledgor would need to cure defaults or negotiate with the secured party before the auction.
The suggestions and answers above are AI-generated for general information only. They can be wrong, and we don't take responsibility for their accuracy. Talk to a qualified professional before acting on them.
Legal terms in this notice
- Pledge and Security Agreement
- A contract where a debtor gives collateral to a creditor to secure a loan.
- Event(s) of Default
- Contractual breaches that allow the secured party to enforce remedies like sale of collateral.
- UCC-1 Filing Statement
- A public record notice that a creditor has a security interest in a debtor's property.
- Article 9
- Part of the Uniform Commercial Code governing secured transactions and collateral enforcement.
- Share Certificate
- A paper or electronic record evidencing ownership interest in an entity, used as collateral here.
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,