TRUST DEED FORECLOSURE - Professional Liability Fund

SAMPLE 22 - PAY OFF LETTER (step 11)[Date][Name/Address]Re:[Matter]Dear [Name]:We represent [client]. We are writing this letter to you in accordance with the request of [name].The amount necessary to pay off the loan as of the date of this letter is $[amount], which is computed asfollows:Unpaid principal balance $Interest at [percent]% from [date] to [date]Late chargesReserve balanceService feePublication feePremium for foreclosure title reportPhotocopy expensePostageFee for recording ReconveyanceAttorney feesTOTAL $In addition to the above, interest accrues at the rate of $[amount] per day for each day after [date]. Theabove amount must be paid in cash, or by money order, cashier check, certified check, or other form ofcertified funds. Please make your check payable to [name of law firm] and send it to us at the aboveaddress.[Client] has instructed us to continue with the foreclosure proceedings until you have paid the amountnecessary to pay the loan in full. [Client] will be incurring additional costs and attorney fees in connectionwith continuing the foreclosure proceedings and those additional amounts will be added to the amountnecessary to pay off the loan. When you have the approximate amount available to pay off the loan,please call or write us, and we will give you the exact amount necessary to pay off the loan as of thatdate.When we receive the above amount, we will prepare and send you a Deed of Reconveyance.If you have any questions, please call or write us.Very truly yours,cc:[Client]Page 33 of 41 [Rev. 7/2012]PROFESSIONAL LIABILITY FUND (TRUST DEED FORECLOSURE CHECKLIST.DOC)