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Section 602 - Notice concerning construction loan default.

UT Code § 38-1a-602 (2019) (N/A)
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(1) Within five business days after a notice of default is filed for recording under Section 57-1-24 with respect to a trust deed on the project property securing a construction loan, the construction lender under the loan shall file a notice with the registry.

(2) A notice under Subsection (1) shall: (a) include: (i) the information required to be included in a notice of construction loan under Subsection 38-1a-601(2); and (ii) the entry number of the notice of construction loan; (b) state that a notice of default with respect to the construction loan has been recorded; and (c) state the date that the notice of default was recorded.

(a) include: (i) the information required to be included in a notice of construction loan under Subsection 38-1a-601(2); and (ii) the entry number of the notice of construction loan;

(i) the information required to be included in a notice of construction loan under Subsection 38-1a-601(2); and

(ii) the entry number of the notice of construction loan;

(b) state that a notice of default with respect to the construction loan has been recorded; and

(c) state the date that the notice of default was recorded.

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Section 601 - Notice of construction loan.
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