Deed of Trust

DEED OF TRUST

State of Idaho

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

SPACE ABOVE THIS LINE FOR RECORDER'S USE

Date: [DATE]
Instrument Number: _________________ (Recorder's Use)
Property Address: [PROPERTY ADDRESS, CITY, ID ZIP]
Tax Parcel Number: [PARCEL NUMBER]

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 irrevocably grants, bargains, sells, and conveys to Trustee, in trust, with POWER OF SALE, the following described real property situated in [COUNTY] County, Idaho:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

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

TOGETHER WITH all buildings, improvements, and fixtures now or hereafter placed thereon; all easements, rights, appurtenances, rents, royalties, water, water rights and water stock; and all fixtures now or hereafter attached to the property (collectively, the "Trust Property").

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 - TRUSTEE PROVISIONS

2.1 Trustee Qualifications. Pursuant to Idaho Code § 45-1504, the Trustee shall be:
(a) Any member of the Idaho State Bar;
(b) Any bank or savings and loan association authorized to do business under Idaho or federal law;
(c) An authorized trust institution having a charter under Idaho Code Chapter 32, Title 26, or authorized under federal law; or
(d) A licensed title insurance agent or title insurance company authorized in Idaho.

2.2 Successor Trustee. Beneficiary may appoint a successor Trustee by recording an instrument of substitution. The successor Trustee shall succeed to all title, powers, and duties of the original Trustee.

2.3 Trustee's Duties. Trustee shall exercise the powers granted herein in accordance with Idaho Code Title 45, Chapter 15.

ARTICLE III - COVENANTS OF GRANTOR

Grantor covenants and agrees as follows:

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

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

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

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

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

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

ARTICLE IV - ASSIGNMENT OF RENTS

4.1 Assignment. Grantor hereby assigns to Beneficiary all rents, issues, and profits of the Trust Property as additional security.

4.2 License to Collect. Grantor shall have a license to collect and retain such rents prior to default. Upon default, this license shall terminate.

ARTICLE V - DEFAULT AND FORECLOSURE

5.1 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.

5.2 Requirements for Non-Judicial Foreclosure (Idaho Code § 45-1505). Trustee may foreclose this Deed of Trust by advertisement and sale if:
(a) This Deed of Trust, any assignments, and any appointment of successor trustee are recorded in mortgage records in the county where the Trust Property is located; and
(b) There is a default by Grantor with respect to any provision herein that authorizes sale in the event of default.

5.3 Notice of Default. Trustee shall record a Notice of Default at the County Recorder's office and mail a copy to Grantor and other parties at the last known address.

5.4 Primary Residence Additional Notice. If the Trust Property is Grantor's primary residence, a notice about the opportunity to request a loan modification must accompany the Notice of Default. This notice includes a form for Grantor to return to request a modification. Grantor has thirty (30) days to submit the form.

5.5 Notice of Sale (Idaho Code § 45-1506). The Notice of Sale shall include:
(a) The book and page or recorder's instrument number where the Deed of Trust is recorded;
(b) The default for which the foreclosure is made;
(c) The sum owing on the obligation secured;
(d) The date, time, and place of sale (after 9:00 a.m. and before 4:00 p.m., standard time);
(e) A description of the Trust Property, including street address if applicable.

5.6 Recording and Publication. An affidavit of mailing notice of sale, affidavit of posting (when required), and publication of notice shall be recorded at least twenty (20) days prior to the date of sale.

5.7 Reinstatement Rights. Grantor has the right to prevent foreclosure by reinstating the loan up to 115 days after the recording date of the Notice of Default by paying all missed payments, fees, and costs in a lump sum.

5.8 Conduct of Sale. Trustee shall sell the Trust Property:
(a) At public auction;
(b) At the date, time, and place stated in the Notice of Sale;
(c) To the highest bidder for cash.

5.9 Postponement. Trustee may postpone the sale upon request of Beneficiary by publicly announcing at the time and place originally fixed for the sale the postponement to a stated subsequent date and hour. No sale may be postponed to a date more than thirty (30) days subsequent to the date from which postponed.

5.10 Trustee's Deed. Upon payment, Trustee shall execute and deliver a Trustee's Deed to the purchaser.

5.11 Application of Proceeds. Trustee shall apply the proceeds of sale:
(a) First, to costs and expenses of the sale;
(b) Second, to all sums secured by this Deed of Trust;
(c) Third, to junior liens in order of priority;
(d) Fourth, the surplus to Grantor or persons legally entitled thereto.

5.12 No Redemption After Non-Judicial Sale. There is no right of redemption following a non-judicial foreclosure in Idaho. Grantor can redeem before the sale by paying off the entire loan amount.

5.13 Deficiency. Idaho permits deficiency judgments in certain circumstances. Beneficiary may pursue a deficiency judgment by filing a separate action.

ARTICLE VI - RECONVEYANCE

6.1 Full Reconveyance. Upon payment of all sums secured, Beneficiary shall request Trustee to reconvey the Trust Property without warranty.

6.2 Partial Reconveyance. Beneficiary may request partial reconveyance upon partial payment.

6.3 Recording. The reconveyance shall be recorded in the county where the Trust Property is located.

ARTICLE VII - RECORDING REQUIREMENTS

7.1 Recording. This Deed of Trust shall be recorded with the County Recorder of [COUNTY] County, Idaho.

7.2 Required Recordings. This Deed of Trust, any assignments, and any appointment of successor trustee must be recorded to permit non-judicial foreclosure.

ARTICLE VIII - MISCELLANEOUS PROVISIONS

8.1 Governing Law. This Deed of Trust shall be governed by Idaho law.

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

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

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

8.5 Request for Notice. Grantor hereby requests copies of any Notice of Default and Notice of Sale.

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

ARTICLE IX - 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 IDAHO
COUNTY OF [COUNTY]

On this _____ day of ______________, 20___, before me, the undersigned Notary Public, personally appeared [GRANTOR NAME(S)], known or identified to me 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.

_______________________________
Notary Public for Idaho
Residing at: ____________________
My Commission Expires: ___________

[NOTARY SEAL]

EXHIBIT A

LEGAL DESCRIPTION

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

[INSERT COMPLETE LEGAL DESCRIPTION]

Tax Parcel Number: [NUMBER]

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