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Q: What is the South Dakota Notice Of Default for Past Due Payments?

The South Dakota Notice Of Default for Past Due Payments is a formal notification sent to borrowers indicating their failure to make timely payments. It serves as an essential step in the foreclosure process, providing borrowers an opportunity to rectify the situation. Understanding how to Get The South Dakota Notice Of Default For Past Due Payments is crucial for both lenders and borrowers.

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NOTICE OF DEFAULT PAST DUE PAYMENTS UNDER CONTRACT FOR DEED TO:_ ___ ___ __THIS NOTICE OF DEFAULT CONCERNS THE CONTRACT FOR DEED ENTERED into by and between _ __ (SELLER) and _ __ (PURCHASER), regarding property located at the following address: _ __. YOU ARE IN DEFAULT IN MAKING PAYMENTS DUE TO SELLER UNDER THE CONTRACT FOR DEED.THIS NOTICE IS TO INFORM YOU THAT THE SELLER HAS THE RIGHT TO TERMINATE THE CONTRACT FOR THE PURCHASE OF THE PROPERTY LOCATED AT THE ADDRESS ABOVE BASED UPON YOUR FAILURE TO MAKE TIMELY PAYMENTS. THE SELLER WILL BEGIN TERMINATION OF THE CONTRACT UNLESS BEFORE THE _ __ DAY OF _ __, 20_ __, YOU CURE THE DEFAULT AS FOLLOWS: YOU PAY TO SELLER:(1)$ _ __, which represents the past due payments for the months of _ __; PLUS (2) $ _ __ in late fees.TOTAL DUE: _ __IF YOU FAIL TO PAY THE ABOVE PAYMENTS WITHIN THE TIME PERIOD SPECIFIED IN THIS NOTICE, YOU WILL STAND IN BREACH OF THE CONTRACT AND SELLER MAY TAKE APPROPRIATE ACTIONS FOR BREACH WHICH COULD INCLUDE YOU LOSING ALL THE MONEY YOU HAVE PAID ON THE CONTRACT, YOUR RIGHT TO POSSESSION OF THE PROPERTY, AND YOUR EVICTION FROM THE PROPERTY. _ __ ___________________________(DATE) (SIGNATURE OF SELLER) _ __ (PRINTED NAME)

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