July 29, 2025
NOTIFICATION OF DISPOSITION OF COLLATERAL
From (Secured Party):
ALLISON LENDING LLC
1688 Meridian Avenue,
Suite 610,
Miami Beach, Florida 33139
To:
Wilton E. Holder
209 Amherst Street,
East Orange, NJ 07018
Copy to:
Weltz Kakos Gerbi Wolinetz
Volynsky LLP
9889 S. Santa Monica Boulevard,
Suite 210
Beverly Hills, CA 90212
Attention: Gabriel M Gerbi, Esq.
Email: ggerbi@weltz.law
Telephone: (212) 202-3179
Copy to:
Waldhauser Law Firm P.C.
Jay Waldhauser, Esq.
390 North Broadway, Suite 210,
Jericho, NY 11753
Reference hereby is made to that certain (a) Pledge and Security Agreement, dated as of February 22, 2024 (“Pledge Agreement”) by and among Wilton E. Holder, an individual (the “Pledgor”) and ALLISON LENDING LLC, ATIMA and other parties party thereto from time to time, (b) Note, dated February 22, 2024 (“Note”) by and among 40 SUNNYSIDE TERR LLC, a New Jersey limited liability company (“Borrower”) and ALLISON LENDING LLC, a Delaware limited liability company (“Mortgage Lender”).
Borrower is in default of its obligations under the Pledge Agreement and, as a result, on November 30, 2024, the Pledge Lender declared all obligations described in the Pledge Agreement immediately due and payable.
This notice is being sent to you by the Pledge Lender pursuant to section 9-611 of the New York Uniform Commercial Code (the “UCC”).
Pledge Lender intends to foreclose upon its security interest in the assets of the Pledgor specified on Exhibit A (the “Collateral”).
Pledge Lender will sell the Collateral to the highest qualified bidder in public as follows:
Date: September 23, 2025
Time: 11:30 a.m. Eastern Time
Place: 40 Sunnyside Terrace,
East Orange, NJ 07018
You are entitled to an accounting of the unpaid indebtedness secured by the property that we intend to sell.
You may request an accounting by contacting Pledge Lender or its counsel.
[signature on following page]
Attachment: Exhibit A
Regards,
ALLISON LENDING, LLC
By: __________________________
Name: Yonel Devico
Title: Authorized Signatory
Signature Page to Notification of Disposition of Collateral
Exhibit A
Collateral
All of each Pledgor’s right, title and interest in or to the following described property of the Borrower, whether now owned or hereafter acquired or arising, as such terms are defined in the Pledge Agreement :
(i) all Pledged Securities;
(ii) all securities, moneys or property representing dividends or interest on any of the Pledged Securities, or representing a distribution in respect of the Pledged Securities, or resulting from a split-up, revision, reclassification or other like change of the Pledged Securities or otherwise received in exchange therefor, and any subscription warrants, rights or options issued to the holders of, or otherwise in respect of, the Pledged Securities;
(iii) all right, title and interest of Borrower in, to and under any policy of insurance payable by reason of loss or damage to the Property or the Pledged Securities and any other Collateral;
(iv) all “accounts”, “deposit accounts”, “general intangibles”, “instruments”, “securities” and “investment property” (in each case as defined in the Code) constituting or relating to the foregoing;
(v) all rights, privileges, authority and power arising from Pledgor’s interest in the Borrower and ownership of the Collateral, including, without limitation, all rights to vote and give approvals, consents, decisions and directions and to exercise any other similar right as a shareholder of Borrower and/or in respect of the Pledged Securities and/or the business or affairs of Borrower and/or to otherwise participate in the operation and management of Borrower, including to act as manager of Borrower, and all rights of Pledgor under or in respect of the Stock Certificate and any other agreement relating to Pledgor’s ownership of equity in Borrower; and
(vi) all Proceeds of any of the foregoing (including, without limitation, any proceeds of insurance thereon).
[Exhibit A to Notification of Disposition of Collateral] #102470
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