Legal Deed of Trust

THIS DEED OF TRUST (the "Deed"), made and entered into as of [Month Day, Year], by and among:

1. TRUSTOR

[Your Company Name],

a [State of Incorporation] corporation,

with its principal office located at [Your Company Address] ("Trustor").

2. TRUSTEE

[Trustee's Full Name or Company Name],

a [State of Incorporation] corporation/individual,

with a principal office located at [Trustee's Address] ("Trustee").

3. BENEFICIARY

[Beneficiary's Full Name or Company Name],

a [State of Incorporation] corporation/individual,

with a principal office located at [Beneficiary's Address] ("Beneficiary").

RECITALS

WHEREAS, Trustor is justly indebted to Beneficiary pursuant to that certain promissory note dated [Month Day, Year], executed by Trustor, and payable to the order of Beneficiary, in the principal sum of [Loan Amount in Words] Dollars ($[0]), with interest thereon as provided in the Note, and any renewals, extensions, or modifications thereof (the "Note"); and

WHEREAS, Trustor desires to secure the payment of the Note, along with any other obligations owed to the Beneficiary, by granting a security interest in the real property described below (the "Property") to Trustee for the benefit of the Beneficiary; and

WHEREAS, Beneficiary has agreed to accept this Deed of Trust on the terms and conditions set forth herein.

GRANT IN TRUST

NOW, THEREFORE, in consideration of the premises and of the mutual covenants and agreements herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Trustor does hereby irrevocably grant, bargain, sell, convey, transfer, and assign to Trustee, in trust, with power of sale and right of entry and possession, all of Trustor's right, title, and interest in and to the following described real property situated in the County of [County Name], State of [State Name], together with all the tenements, hereditaments, and appurtenances thereunto belonging or in any way appertaining, and the rents, issues, and profits thereof, and all of the estate, right, title, interest, and claim whatsoever of Trustor, either in law or in equity, in and to the following described premises (hereinafter referred to as the "Property"):

Parcel No.: 123-456-789

All that certain real property situated in the County of [County Name], State of [State Name], and more particularly described as follows:

Lot 12, Block 3, of the [Subdivision Name], as per map recorded in [Book 45, Page 67] of the [County Name] Maps, Records of [County Name], State of [State Name].

Containing approximately [0.25 acres], more or less.

TOGETHER WITH all improvements, fixtures, and personal property now or hereafter attached to, placed upon, or used in connection with the Property, including but not limited to all buildings, structures, additions, improvements, equipment, machinery, and appliances (the "Improvements").

TO HAVE AND TO HOLD the Property and the Improvements unto Trustee and Trustee's successors or substitutes in trust, for the purpose of securing the payment and performance of the Secured Obligations, as described herein.

SECURED OBLIGATIONS

This Deed of Trust is given for the purpose of securing the following obligations (collectively, the "Secured Obligations"):

Principal and Interest: Payment of the principal sum of [Loan Amount in Words] Dollars ($[0]), together with interest thereon as set forth in the Note, and any and all other sums, with interest thereon, becoming due and payable to Beneficiary under the Note, or any renewals, extensions, or modifications thereof.
Performance of Covenants: Performance of each and every covenant, condition, agreement, representation, and warranty set forth in this Deed of Trust, the Note, and any other instruments or agreements securing or evidencing the indebtedness.
Additional Advances: Payment of any future advances made by Beneficiary to Trustor or on Trustor's behalf, which may be evidenced by a note or notes, and secured by this Deed of Trust, provided that the total amount of such indebtedness secured hereby shall not exceed [$0].

TRUSTOR'S REPRESENTATIONS, WARRANTIES, AND COVENANTS

Trustor hereby represents, warrants, and covenants to Trustee and Beneficiary as follows:

Ownership and Title: Trustor is the sole lawful owner of the Property and holds good and marketable title to the Property, free and clear of all liens, encumbrances, and security interests, except as specifically disclosed to and accepted by Beneficiary.
Authority to Convey: Trustor has full power, right, and authority to grant, bargain, sell, convey, assign, and transfer the Property to Trustee for the purposes and on the terms set forth in this Deed of Trust.
Insurance: Trustor shall keep the Property and all Improvements insured against loss by fire, hazards included within the term "extended coverage," and such other hazards as Beneficiary may require, in such amounts and for such periods as Beneficiary may require, with loss payable to Beneficiary.
Maintenance and Repair: Trustor shall keep the Property and Improvements in good condition and repair, and shall not commit waste or permit impairment or deterioration of the Property.
Payment of Taxes and Other Charges: Trustor shall pay, before delinquency, all taxes, assessments, and other charges of every nature imposed upon or assessed against the Property or the Secured Obligations, unless Trustor is contesting such amounts in good faith by appropriate proceedings.
Compliance with Laws: Trustor shall comply with all laws, ordinances, regulations, covenants, conditions, and restrictions affecting the Property and the Improvements.

EVENTS OF DEFAULT

The occurrence of any one or more of the following events shall constitute an "Event of Default" under this Deed of Trust:

Non-Payment: Failure of Trustor to pay any sum due under the Note or this Deed of Trust, when and as the same shall become due and payable, whether at maturity, by acceleration, or otherwise.
Breach of Covenants: Failure of Trustor to perform any of its covenants, agreements, or obligations under this Deed of Trust, the Note, or any other instrument securing or evidencing the Secured Obligations.
Bankruptcy or Insolvency: The filing of a petition by or against Trustor under any bankruptcy or insolvency law, or the making of an assignment for the benefit of creditors by Trustor.
Transfer of Property: Sale, transfer, or conveyance of the Property or any interest therein, without the prior written consent of Beneficiary.

REMEDIES

Upon the occurrence of any Event of Default:

Acceleration: Beneficiary may, at its option, declare the entire unpaid principal balance of the Note, together with all accrued interest and any other sums secured by this Deed of Trust, to be immediately due and payable, without notice or demand.
Foreclosure: Trustee, upon written request of Beneficiary, shall proceed to sell the Property at public auction to the highest bidder for cash, in accordance with applicable law, and apply the proceeds of the sale to the Secured Obligations in the order provided by law.
Possession: Trustee or Beneficiary may enter and take possession of the Property, or any part thereof, with or without legal process, and Trustor shall surrender possession of the Property to Trustee or Beneficiary upon demand.
Additional Remedies: Beneficiary shall have all the rights and remedies provided herein, in the Note, and by applicable law, including but not limited to the right to seek a deficiency judgment against Trustor if the proceeds of the sale of the Property are insufficient to pay the Secured Obligations in full.

MISCELLANEOUS PROVISIONS

Governing Law: This Deed of Trust shall be governed by and construed in accordance with the laws of the State of [State Name], without regard to its conflicts of laws principles.
Notices: Any notice required or permitted to be given under this Deed of Trust shall be in writing and shall be deemed to have been duly given if delivered personally, sent by certified or registered mail, return receipt requested, or by a nationally recognized courier service, addressed to the party to whom notice is being given at the address set forth herein.
Substitution of Trustee: Beneficiary may, at any time, appoint a successor trustee by executing and recording in the office of the Recorder of the County where the Property is situated, a substitution of trustee. The successor trustee shall, without conveyance from the predecessor trustee, succeed to all the title, estate, rights, powers, and duties of the trustee named herein.
Waivers: No delay or omission by Beneficiary in exercising any right or remedy hereunder shall operate as a waiver of such right or remedy or any other right or remedy hereunder, and no single or partial exercise thereof shall preclude any other or further exercise thereof or the exercise of any other right or remedy.
Severability: If any provision of this Deed of Trust is held to be invalid, illegal, or unenforceable in any respect, such provision shall be severed and the remaining provisions shall remain in full force and effect.
Successors and Assigns: This Deed of Trust shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, successors, and assigns.

IN WITNESS WHEREOF, the parties hereto have executed this Deed of Trust as of the day and year first above written.

TRUSTOR:

[Your Company Name]

By:

[Your Name]