Deed of Trust
This Deed of Trust ("Deed") is executed on the date set forth below by and between the Trustor, [Your Name], and the Beneficiary, [Your Company Name], under the terms and conditions herein to secure the payment and performance of certain obligations including the repayment of a loan related to the property described below.
I. Parties
Trustor: [Your Name], [Your Company Address]
Beneficiary: [Your Company Name]
II. Property Description
This Deed pertains to the following legally described property, herein referred to as the "Property":
III. Declaration of Trust
The Trustor hereby irrevocably grants and conveys to Trustee, in trust, with power of sale, the above-described Property.
IV. Obligations Secured
This Deed secures the performance of the following obligations:
Repayment of the principal sum of the loan amounting to [Loan Amount].
Payment of interest on the principal at the rate provided in the note dated [Note Date].
Performance of any other covenants, agreements, and obligations contained in the Loan Agreement.
V. Trustee
The trustee under this Deed shall be [Trustee's Name]. The Trustee is empowered to act on behalf of the Beneficiary for the purposes specified in this Deed.
VI. Powers of Trustee
The Trustee shall have the following powers:
To foreclose upon the Property by advertisement, sale, or court action in the event of default under this trust.
To execute deeds to the purchaser in accordance with applicable law.
To take any actions deemed necessary to protect the interest of the Beneficiary under the terms of this Deed.
VII. Provisions for Breach
In the event of a breach, including but not limited to the non-payment of the loan, the Beneficiary shall have the right to notify the Trustee to proceed with the foreclosure of the Property.
VIII. Governing Law
This Deed shall be governed by, and construed in accordance with, the laws of the state where the Property is located.
IX. Execution
IN WITNESS WHEREOF, the parties hereto have executed this Deed of Trust as of the day and year first below written.
Trustor: [Your Name] Date: [Date]
Beneficiary: [Your Company Name] Date: [Date]
X. Signatures
[Your Name]
[Your Company Name]
Beneficiary
Date:
[Trustee's Name]
Trustee
Date:
[Notary Public Name]
Notary Public in and for [State]
My Commission Expires: [Expiration Date]
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