DEED OF TRUST

(Mortgage Equivalent - Indiana)

State of Indiana

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

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

IMPORTANT NOTICE - JUDICIAL FORECLOSURE STATE

INDIANA IS A JUDICIAL FORECLOSURE STATE. All foreclosures must proceed through the courts. Non-judicial foreclosure is not permitted. This template is structured as a deed of trust but will be treated as a mortgage under Indiana law.

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 [COUNTY] County, Indiana:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

Property Address: [PROPERTY ADDRESS], [CITY], Indiana [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. Indiana requires all foreclosures to proceed through the courts. Beneficiary must file a lawsuit by serving Grantor with a summons and complaint.

3.3 Waiting Period (IC 32-29-7-3). Process may not issue for execution of a judgment or decree of sale for the following periods after filing of complaint:
(a) Three (3) months for mortgages executed on or after July 1, 1975;
(b) Six (6) months for mortgages executed after December 31, 1957, but before July 1, 1975;
(c) Twelve (12) months for mortgages executed before January 1, 1958.

3.4 Abandoned Property Exception. If the court finds the mortgaged real estate has been abandoned under IC 32-30-10.6, a judgment or decree of sale may be executed on the date of entry, regardless of the mortgage execution date.

3.5 Waiver of Waiting Period and Deficiency. Grantor may waive the waiting period. Upon waiver, the lender cannot obtain a deficiency judgment against Grantor.

3.6 Notice of Sale. Before sale, the Sheriff must:
(a) Advertise the sale by publication once each week for three (3) successive weeks in a newspaper of general circulation;
(b) First publication must be at least thirty (30) days before the date of sale; and
(c) Serve a copy of the written notice of sale upon each owner of record.

3.7 Sheriff's Sale. The sale shall be conducted by the Sheriff at public auction.

3.8 Deficiency Judgment. Indiana permits deficiency judgments unless the borrower waived the waiting period.

3.9 Statute of Limitations. The statute of limitations for mortgage foreclosure in Indiana is ten (10) years from the last installment of the debt becoming due.

ARTICLE IV - RELEASE

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

4.2 Recording. The satisfaction shall be recorded with the County Recorder in the county where the Trust Property is located.

ARTICLE V - RECORDING REQUIREMENTS

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

5.2 Recording Fees. Indiana recording fees shall be paid upon recording.

ARTICLE VI - MISCELLANEOUS PROVISIONS

6.1 Governing Law. This Deed of Trust shall be governed by Indiana 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 INDIANA
COUNTY OF [COUNTY]

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared [GRANTOR NAME(S)], who acknowledged the execution of the foregoing Deed of Trust as his/her/their voluntary act and deed.

Witness my hand and notarial seal this _____ day of ______________, 20___.

_______________________________
Notary Public
Printed Name: __________________
My Commission Expires: ___________
County of Residence: _____________

[NOTARY SEAL]

EXHIBIT A

LEGAL DESCRIPTION

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

[INSERT COMPLETE LEGAL DESCRIPTION]

Parcel Number: [NUMBER]

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