LD 1932
pg. 3
Page 2 of 7 An Act To Implement Model Time-share Foreclosure Procedures Page 4 of 7
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LR 2960
Item 1

 
NOTICE OF SALE OF TIME-SHARE ESTATE OR ESTATES
UNDER TITLE 33, SECTION 595 OF THE MAINE REVISED
STATUTES ANNOTATED

 
By virtue of the project instrument of the
........................(name and address of time-
share property) and Title 33, section 594
establishing a lien for failure to pay assessments
on the time-share estate (or estates, if more than
one) held by the time-share owner (or owners, if
more than one) listed below, the time-share estate
(or estates, if more than one) will be sold at
Public Auction commencing at ........ on
.......... , 20.. at ............................,
Maine.__(For each time-share estate, list the name
and address of the time-share owner, a general
description of the time-share estate and the book
and page number of the deed.)

 
TERMS OF SALE:__(State the deposit amount to be
paid by the purchaser at the time and place of the
sale and the times for payment of the balance or
the whole, as the case may be. The time-share
estates, if more than one, may be sold in
individual lots or as a group.)

 
Other terms to be announced at the sale.

 
Signed.........................

 
Lienholder or authorized agent.

 
(e)__For foreclosure of a mortgage lien containing
a power of sale on a time-share estate, a notice
of sale must be printed in substantially the
following form:

 
NOTICE OF SALE OF TIME-SHARE ESTATE OR ESTATES
UNDER TITLE 33, SECTION 595 OF THE MAINE REVISED
STATUTES ANNOTATED

 
By virtue of Title 33, section 595 and in execution of the power
of sale contained in a certain mortgage (or mortgages, if more
than one) on the time-share estate (or estates, if more than one)
given by the time-share owner (or owners, if more than one) set
forth below for breach of the conditions of said mortgage (or
mortgages, if more than one) and for the purpose of foreclosing,
the same will be sold at Public Auction commencing at ..... on
........, 20.. at ......................,


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