DEED OF TRUST

(Mortgage Equivalent - Connecticut)

State of Connecticut

WHEN RECORDED RETURN TO:
[NAME]
[ADDRESS]
[CITY, STATE ZIP]

Date: [DATE]
Volume/Page: _________________ (Town Clerk's Use)
Property Address: [PROPERTY ADDRESS, CITY, CT ZIP]
Map/Block/Lot: [MAP/BLOCK/LOT]

IMPORTANT NOTICE - JUDICIAL FORECLOSURE STATE (STRICT FORECLOSURE)

CONNECTICUT IS A JUDICIAL FORECLOSURE STATE. Connecticut is one of only three states that commonly uses strict foreclosure. All foreclosures must go through the court system. In a strict foreclosure, the court may transfer title directly to the lender without a foreclosure sale if the property has no equity. Mortgages are the standard security instrument.

DEED OF TRUST

THIS DEED OF TRUST is made this [DAY] day of [MONTH], [YEAR], by and among:

GRANTOR (Borrower):
[GRANTOR NAME(S)]
[ADDRESS]
[CITY, STATE ZIP]

TRUSTEE:
[TRUSTEE NAME]
[ADDRESS]
[CITY, STATE ZIP]

BENEFICIARY (Lender):
[BENEFICIARY/LENDER NAME]
[ADDRESS]
[CITY, STATE ZIP]

RECITALS AND GRANT

WHEREAS, Grantor is indebted to Beneficiary in the principal sum of [PRINCIPAL AMOUNT] DOLLARS ($[AMOUNT]), as evidenced by a Promissory Note of even date herewith (the "Note");

NOW, THEREFORE, Grantor does hereby grant, bargain, sell, and convey unto Trustee, in trust, the following described real property situated in the Town of [TOWN], County of [COUNTY], Connecticut:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

Property Address: [PROPERTY ADDRESS], [CITY], Connecticut [ZIP CODE]

TOGETHER WITH all buildings, improvements, and fixtures now or hereafter placed thereon; all easements, rights, appurtenances, rents, royalties, and profits.

ARTICLE I - OBLIGATIONS SECURED

This Deed of Trust secures to Beneficiary:
(a) The repayment of the debt evidenced by the Note, with interest, and all renewals, extensions, and modifications;
(b) The payment of all other sums, with interest, advanced under this Deed of Trust;
(c) The performance of Grantor's covenants and agreements under this Deed of Trust and the Note.

ARTICLE II - COVENANTS OF GRANTOR

Grantor covenants and agrees as follows:

2.1 Payment. Grantor shall pay when due the principal and interest on the debt evidenced by the Note and all other sums secured hereby.

2.2 Insurance. Grantor shall keep the improvements insured against loss by fire and other hazards, with Beneficiary named as loss payee.

2.3 Taxes and Assessments. Grantor shall pay before delinquency all taxes, assessments, and charges against the Trust Property.

2.4 Maintenance. Grantor shall maintain the Trust Property in good condition and repair and shall not commit or permit waste.

2.5 Defense of Title. Grantor shall defend title against all claims.

2.6 Compliance with Laws. Grantor shall comply with all laws, ordinances, and regulations affecting the Trust Property.

ARTICLE III - DEFAULT AND FORECLOSURE

3.1 Events of Default. The following shall constitute Events of Default:
(a) Failure to make any payment when due under the Note or this Deed of Trust;
(b) Breach of any covenant or agreement herein;
(c) Material misrepresentation by Grantor;
(d) Transfer of the Trust Property without Beneficiary's prior written consent;
(e) Bankruptcy or insolvency of Grantor.

3.2 Judicial Foreclosure Required. Connecticut requires all foreclosures to proceed through the courts. The lender must file a lawsuit and serve the borrower with a summons and complaint.

3.3 Types of Foreclosure. Connecticut recognizes two types of judicial foreclosure:
(a) Strict Foreclosure: The court may grant strict foreclosure when there is no equity in the property, transferring title directly to the lender without a sale; or
(b) Foreclosure by Sale: If there is sufficient equity, the court may order a foreclosure by sale where the property is sold to the highest bidder under court supervision.

3.4 Law Days (C.G.S. § 49-24). In a strict foreclosure, the court assigns "law days" for parties with an interest in the property to redeem it. If no redemption occurs by the designated law day, the lender gains title free and clear.

3.5 Opening Judgment of Strict Foreclosure (C.G.S. § 49-15). Any judgment of strict foreclosure may be opened and modified by the court for cause shown, provided no such judgment shall be opened after the title has become absolute in any encumbrancer.

3.6 Deficiency Judgment. Connecticut permits deficiency judgments with both foreclosure by sale and strict foreclosure. For strict foreclosure, the lender must file a motion within thirty (30) days after law day.

3.7 Homeowner Protections. Eligible unemployed or underemployed homeowners may apply for restructuring of mortgage debt and postponement of foreclosure (C.G.S. § 49-31f, § 49-31g).

ARTICLE IV - RELEASE

4.1 Satisfaction. Upon payment of all sums secured hereby, Beneficiary shall execute a Release of Mortgage suitable for recording.

4.2 Recording. The release shall be recorded with the Town Clerk of the town where the Trust Property is located.

ARTICLE V - RECORDING REQUIREMENTS

5.1 Recording. This Deed of Trust shall be recorded with the Town Clerk of [TOWN], Connecticut.

5.2 Conveyance Tax. Connecticut Conveyance Tax shall be paid upon recording in accordance with C.G.S. § 12-494 et seq.

ARTICLE VI - MISCELLANEOUS PROVISIONS

6.1 Governing Law. This Deed of Trust shall be governed by Connecticut law.

6.2 Successors and Assigns. This Deed of Trust binds and benefits the heirs, executors, administrators, successors, and assigns of the parties.

6.3 Severability. If any provision is held invalid, all other provisions remain in full force.

6.4 Notices. All notices shall be in writing and sent to the addresses set forth above.

6.5 Entire Agreement. This Deed of Trust and the Note constitute the entire agreement of the parties.

ARTICLE VII - RIDERS AND ADDENDA

The following riders are attached hereto and incorporated herein:

☐ Adjustable Rate Rider
☐ Condominium Rider
☐ Planned Unit Development Rider
☐ Second Home Rider
☐ 1-4 Family Rider
☐ Other: [SPECIFY]

SIGNATURE PAGE

IN WITNESS WHEREOF, Grantor has executed this Deed of Trust as of the date first written above.

GRANTOR(S):

_______________________________
[GRANTOR NAME]
Date: _________________________

_______________________________
[GRANTOR NAME]
Date: _________________________

ACKNOWLEDGMENT

STATE OF CONNECTICUT
COUNTY OF [COUNTY]

On this _____ day of ______________, 20___, before me personally appeared [GRANTOR NAME(S)], to me known (or proved to me on the basis of satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument, and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument, the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

_______________________________
Notary Public
My Commission Expires: ___________

[NOTARY SEAL]

EXHIBIT A

LEGAL DESCRIPTION

The land referred to herein is situated in the Town of [TOWN], County of [COUNTY], State of Connecticut, and is described as follows:

[INSERT COMPLETE LEGAL DESCRIPTION]

Map: [MAP] Block: [BLOCK] Lot: [LOT]

This document prepared by:
[PREPARER NAME]
[ADDRESS]
[PHONE]
[EMAIL]