The Oregon Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan is an important document that plays a key role in securing a commercial loan against fixtures attached to real property in Oregon. This document is specifically designed to provide detailed information about the loan, the fixtures involved, and the parties involved in the transaction. It acts as a legal record and offers protection to both the lender and borrower. In a Fixture Filing for a Commercial Loan, the Oregon Exhibit to UCC-1 Financing Statement contains various sections and details: 1. Identification Information: This section includes the legal names and addresses of both the debtor (usually the borrower) and the secured party (the lender). Accurate and up-to-date information is crucial to ensure the validity of the filing. 2. Collateral Description: In this part, a detailed and specific description of the fixtures attached to the real property is provided. It includes information such as the type of fixture, location, and any associated equipment or accessories. The description should be accurate and comprehensive to avoid any confusion or disputes in the future. 3. Financing Statement Details: This section provides information related to the loan and its terms. It includes the loan amount, interest rate, maturity date, and any applicable fees or provisions. This information helps establish the rights and obligations of both parties. 4. Filing Jurisdiction: Since this document pertains to Oregon, it explicitly indicates that the filing is governed by the UCC laws of the State of Oregon. This ensures compliance with state regulations and establishes the validity and enforceability of the filing. Different types or variations of Oregon Exhibit to UCC-1 Financing Statement may exist based on specific circumstances. Some possible variations include: a. Oregon Exhibit to UCC-1 Financing Statement (Individual Debtor): This version is used when an individual debtor is involved in the commercial loan, and their personal information, such as social security number, needs to be included in the filing. b. Oregon Exhibit to UCC-1 Financing Statement (Multiple Debtors): If multiple debtors are involved, such as a partnership or joint borrowers, this variation is used to provide the necessary information for each debtor. c. Oregon Exhibit to UCC-1 Financing Statement (Amendment): An amendment version may be filed if there are changes or updates to the original filing, such as modifications to the loan terms, collateral description, or debtor information. In summary, the Oregon Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan is a crucial document that ensures the proper documentation and protection of a lender's security interest in fixtures attached to real property. It provides detailed information about the loan, fixtures, and involved parties, all while complying with Oregon's UCC laws. Properly completing and filing this document is essential for both lenders and borrowers involved in commercial loan transactions in Oregon.
Oregon Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan
Description
How to fill out Oregon Exhibit To UCC-1 Financing Statement Regarding A Fixture Filing For A Commercial Loan?
If you want to full, download, or print out legal document web templates, use US Legal Forms, the greatest collection of legal varieties, which can be found on the Internet. Use the site`s easy and practical research to find the paperwork you need. Numerous web templates for organization and specific purposes are categorized by groups and claims, or keywords. Use US Legal Forms to find the Oregon Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan within a handful of clicks.
When you are already a US Legal Forms consumer, log in in your account and click on the Acquire switch to get the Oregon Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan. You can also access varieties you formerly saved inside the My Forms tab of your own account.
If you use US Legal Forms the very first time, follow the instructions below:
- Step 1. Be sure you have chosen the shape for the proper city/land.
- Step 2. Use the Preview method to look through the form`s articles. Never overlook to read the information.
- Step 3. When you are unhappy with all the kind, utilize the Lookup industry near the top of the screen to get other types of the legal kind web template.
- Step 4. When you have discovered the shape you need, go through the Get now switch. Opt for the costs program you prefer and put your accreditations to register for the account.
- Step 5. Approach the deal. You can use your Мisa or Ьastercard or PayPal account to perform the deal.
- Step 6. Choose the formatting of the legal kind and download it on your own gadget.
- Step 7. Full, edit and print out or sign the Oregon Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan.
Every legal document web template you purchase is yours forever. You may have acces to every single kind you saved with your acccount. Click on the My Forms area and pick a kind to print out or download once again.
Be competitive and download, and print out the Oregon Exhibit to UCC-1 Financing Statement regarding a Fixture Filing for a Commercial Loan with US Legal Forms. There are thousands of specialist and status-specific varieties you can use for your personal organization or specific needs.
Form popularity
FAQ
First, the debtor must send an authenticated demand to the secured party. The demand should be sent to the name/address of the secured party as indicated on the financing statement. The secured party has 20 days to either terminate the filing or send a termination statement to the debtor that the debtor can then file.
In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property. This personal property is being used as collateral in some type of secured transaction, usually a loan or a lease.
(41) "Fixtures" means goods that have become so related to particular real property that an interest in them arises under real property law.
Essentially, a UCC-1 can be described as a financing statement. In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property.
A fixture filing is a UCC-1 financing statement authorized and made in ance with the UCC adopted in the state in which the related real property is located. It covers property that is, or will be, affixed to improvements to such real property.
In general, a UCC filing is not bad for your business ? it simply serves as an official notice to other creditors that your lender has a security interest in one or all of your assets. However, UCC filings can impact your business credit, risk your company's assets and/or hinder your ability to get future financing.
The UCC filing establishes a lien against the collateral the borrower uses to secure the loan ? giving the lender the right to claim that collateral as repayment in the case of default. However, in many cases, the terms UCC lien and UCC filing are used interchangeably.
While a UCC-1 filing expires after five years unless extended, a mortgage is good until released, which obviously can be far longer than five years. PRACTICE TIP: Thus, there are three ways to file against fixtures.
