Security Deed and Note Expiry

[Chad U.]

Let's say I'm carrying note with a Security Deed as collateral.  Terms of the loan are no interest with a balloon payment upon expiration of the note.  If the note has expired and the payment is not made within that timeframe (therefore defaulted), what are the statute of limitations in which I have to act to enforce this?  Would I need to send of a Notice of Default letter first, or can I just demand payment and/or initiate foreclosure.  It is in a non-judicial state, and I'm loaning my own funds so assuming a servicer is not required.  

Hoping @John Thedford or @Jay Hinrichs can shed some light.