Public Notice — Unknown
Official courthouse record · Indexed in NoticeRegistry archive · AI-enriched for research
A secured party (Crosby Lending 2 LLC) intends to sell, at public auction, the pledged membership interest in 632 Grove St. LLC and related rights following an event of default under a June 4, 2025 pledge agreement.
Key Takeaways
- Secured party will hold a public auction to sell pledged LLC interest
- Sale follows alleged default under a June 4, 2025 Pledge Agreement
- Collateral is membership/share interest in 632 Grove St. LLC
- Sale is conducted under New Jersey's UCC (Article 8 and 9)
If you don't respond
If interested parties do not act before the public auction, the Secured Party will sell the pledged interest at auction; the Pledgor may lose ownership of the 632 Grove St. LLC interest. (No specific auction date provided in notice.)
What to do next
- 1
Contact the Secured Party
Reach out to Crosby Lending 2 LLC to request auction date, location, and redemption details (contact info not provided in notice).
- 2
Review Pledge Agreement
If you are the Pledgor or an interested party, obtain and review the June 4, 2025 Pledge Agreement to understand default and cure options.
- 3
Attend the Auction
Monitor for the auction announcement and attend to bid if you intend to purchase the pledged interest.
Frequently asked questions
- What is being sold in this notice?
- The pledged membership/share interest in 632 Grove St. 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 certificate, is conducting the sale.
- Why is the sale happening?
- The sale follows alleged events of default under a Pledge and Security Agreement dated June 4, 2025.
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 Agreement
- A contract where a borrower gives a lender a security interest in property as collateral for a debt.
- Pledgor
- The party who grants a security interest in property to secure a debt.
- Secured Party
- The lender or creditor holding the security interest in collateral.
- UCC-1
- A public filing that perfects a creditor's security interest in collateral under the Uniform Commercial Code.
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 June 4, 2025 (the “Pledge Agreement”), executed and delivered by Maureen A. Edwards (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 Jersey (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: 632 Grove St. LLC (the “Pledged Entity”), and (ii) certain related rights and property relating thereto (collectively,