Abandoned Property Notice Form

ABANDONED PROPERTY NOTICE FORM

This Abandoned Property Notice (the "Notice") is made on Date: by and between Holder Name: with address (hereinafter "Holder") and Claimant Name: with address (hereinafter "Claimant").

RECITALS

WHEREAS, Holder is in possession of certain tangible personal property that has been left at or on Holder's premises located at ;

WHEREAS, Holder has made reasonable efforts to contact the last known address and other available contact information for Claimant, including last contact on ; and

WHEREAS, Holder reasonably believes the property described below to be abandoned and intends to proceed in accordance with applicable law to provide notice and to dispose of or otherwise process the property if not reclaimed.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows:

1. DEFINITIONS

For purposes of this Notice: "Property" means the tangible personal property described in Section 2 below. "Abandoned" means property that, after reasonable inquiry and the passage of a statutory or agreed-upon period, remains unclaimed by the owner or lawful agent. "Holder" means the party in possession of the Property. "Claimant" means the person or entity asserting an ownership or other right to possession of the Property.

2. DESCRIPTION OF PROPERTY

The Property believed to be abandoned is described as follows. Additional sheets may be attached to this Notice and are incorporated herein.

Serial/ID:    Quantity:    Estimated Value: $

Serial/ID:    Quantity:    Estimated Value: $

Serial/ID:    Quantity:    Estimated Value: $

3. NOTICE OF ABANDONMENT

Holder hereby provides notice to Claimant that the Property described above is deemed abandoned. Claimant must contact Holder and submit a valid claim for the Property no later than . Failure to respond by that date constitutes an election to forfeit rights in the Property and authorizes Holder to proceed with disposition as provided in this Notice and applicable law.

4. CLAIM PROCEDURE

To assert a claim, Claimant must deliver to Holder (a) proof of ownership or lawful right to possession, (b) valid government-issued photo identification, and (c) payment of any outstanding charges described in Section 6. Documents required:

Release upon payment of charges: (check if Holder will release Property upon full payment of storage and administrative charges).

5. CUSTODY AND DISPOSITION

If Claimant fails to timely claim the Property by the response deadline, Holder may elect to sell, transfer, destroy, donate, or otherwise dispose of the Property. Any sale shall be conducted in a commercially reasonable manner. Holder shall apply proceeds first to reasonable expenses of sale, storage, and administrative charges, with any remaining net proceeds to be handled in accordance with applicable law or as otherwise agreed in writing.

6. STORAGE CHARGES AND COSTS

Holder's reasonable charges related to the Property are set forth below. Claimant acknowledges that payment of these amounts may be required prior to release.

7. REPRESENTATIONS, WARRANTIES AND ACKNOWLEDGMENTS

Claimant represents and warrants that Claimant is the lawful owner of the Property or has the legal authority to recover the Property; that all information provided to Holder is true, accurate and complete; and that Claimant will indemnify Holder for any claims arising from a false assertion of ownership.

8. INDEMNITY AND LIMITATION OF LIABILITY

Claimant shall indemnify, defend and hold Holder harmless from and against any and all claims, liabilities, damages, losses and expenses (including reasonable attorneys' fees) arising out of Claimant's claim to the Property, any false representation, or Claimant's failure to remove the Property in accordance with this Notice. Holder's liability for any loss or damage to the Property while in Holder's possession shall be limited to damages caused by Holder's gross negligence or willful misconduct. Holder expressly disclaims liability for consequential, incidental, or punitive damages.

9. NOTICES

All notices required or permitted under this Notice shall be in writing and delivered to the addresses designated below. Notice shall be deemed given upon personal delivery, three business days after deposit in the United States mail with first-class postage prepaid, or upon confirmed electronic transmission where agreed.

Preferred methods of notice (check all that apply): Mail    Email    Personal Service

10. MISCELLANEOUS

Governing Law: This Notice shall be governed by and construed in accordance with the laws of the State of , without regard to its conflict of laws principles.

Entire Agreement: This Notice constitutes the entire agreement between the parties regarding the abandoned Property and supersedes all prior understandings, whether written or oral, relating to the subject matter hereof.

Severability: If any provision of this Notice is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Amendments and Waiver: No amendment or waiver of any provision of this Notice shall be effective unless in writing and signed by both parties. The failure of either party to enforce any right hereunder shall not constitute a waiver of future enforcement of that or any other right.

Counterparts: This Notice may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

11. HOLDER ENTITY TYPE

Holder declares the following entity type (check all that apply): Individual    Corporation    Partnership    Other

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