Deed of Trust (Trust Deed) - Illinois

TRUST DEED

State of Illinois

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

Date: [DATE]
Document Number: _________________ (Recorder's Use)
Property Address: [PROPERTY ADDRESS, CITY, IL ZIP]
PIN: [PIN]

Before you use this: Complete the secured obligation and legal description. Determine whether a homestead interest is being released and, if so, complete the express release below and obtain the signature of the owner and spouse, if any. Confirm all titleholders, lender, and recording details for this property. This trust deed is security for the identified obligation; it does not grant a private trustee-sale power.

TRUST DEED

THIS TRUST DEED 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 dated [__/__/____] with a stated maturity date of [__/__/____] or [state other maturity term: ________________________________] (the "Note");

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

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE. This conveyance is intended only as security in the nature of a mortgage for the obligations identified below, not as an absolute transfer of Grantor's beneficial ownership.

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

TOGETHER WITH all buildings, improvements, fixtures, easements, rights, appurtenances, rents, and profits.

ARTICLE I - OBLIGATIONS SECURED

This Trust Deed secures: (a) repayment of the Note with interest according to its terms; (b) advances expressly authorized by the Note or this Trust Deed: [identify or write "none": ________________________________]; and (c) performance of Grantor's covenants stated here. No unrelated debt is secured unless identified in a signed written amendment.

ARTICLE II - COVENANTS OF GRANTOR

Grantor shall: pay when due all amounts under the Note; maintain insurance; pay taxes; maintain the property; defend title; and comply with all laws.

ARTICLE III - DEFAULT AND FORECLOSURE

3.1 Default. A default occurs if Grantor fails to perform a payment or covenant obligation secured by this Trust Deed and does not cure within any notice and cure period required by the Note, this Trust Deed, or applicable law. Beneficiary shall describe the default and any available cure in the notice required for the particular obligation and property.

3.2 Enforcement. This instrument grants no power of private trustee sale. A foreclosure of this security interest must proceed under the Illinois Mortgage Foreclosure Law, 735 ILCS 5/15-1106(a)(1). Reinstatement, redemption, sale, deficiency, and possession rights are governed by applicable law and the facts of the case; this Trust Deed does not shorten or waive them.

ARTICLE IV - RELEASE

After full satisfaction of the secured obligation, Trustee or a successor in trust shall execute and deliver a written release of this recorded Trust Deed, or deliver the release to the recorder for recording, as applicable under 765 ILCS 905/2.

ARTICLE V - MISCELLANEOUS

This Trust Deed shall be governed by Illinois law.

Homestead release (include only if intended): Grantor, and Grantor's spouse if any, expressly release and waive their homestead rights in the property described in Exhibit A solely as security for the obligations identified in this Trust Deed. Each person releasing a homestead right must sign below. See 765 ILCS 5/27 and 735 ILCS 5/12-904.

SIGNATURE PAGE

GRANTOR(S):

_______________________________
[GRANTOR NAME]

_______________________________
[ADDITIONAL GRANTOR / TITLEHOLDER, IF ANY]

SPOUSE JOINING IN HOMESTEAD RELEASE (if applicable):

_______________________________
[SPOUSE NAME]

ACKNOWLEDGMENT

STATE OF ILLINOIS
COUNTY OF [COUNTY]

On [__/__/____], before me, a Notary Public, personally appeared [GRANTOR NAME(S) AND JOINING SPOUSE, IF ANY], who acknowledged signing this instrument for the purposes stated in it.

_______________________________
Notary Public
Official seal: [________________________________]
My Commission Expires: ___________

EXHIBIT A - LEGAL DESCRIPTION

[INSERT COMPLETE LEGAL DESCRIPTION]

PIN: [NUMBER]

Prepared by: [PREPARER NAME], [ADDRESS]