DEED OF TRUST

(Mortgage with Power of Sale - Massachusetts)

Commonwealth of Massachusetts

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

Date: [DATE]
Book/Page: _________________ (Registry of Deeds' Use)
Property Address: [PROPERTY ADDRESS, CITY, MA ZIP]
Parcel ID: [PARCEL ID]

IMPORTANT NOTICE - NON-JUDICIAL FORECLOSURE STATE

MASSACHUSETTS IS A NON-JUDICIAL FORECLOSURE STATE. Foreclosure typically proceeds by power of sale without court involvement under M.G.L. c. 244, § 14. However, the mortgagee must strictly prove loan ownership and a valid chain of recorded assignments. Massachusetts also recognizes foreclosure by entry (M.G.L. c. 244, §§ 1, 2).

DEED OF TRUST (MORTGAGE WITH POWER OF SALE)

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

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

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

BENEFICIARY/MORTGAGEE (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, WITH POWER OF SALE, the following described real property situated in [COUNTY] County, Massachusetts:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

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

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

POWER OF SALE

This Deed of Trust contains a STATUTORY POWER OF SALE pursuant to M.G.L. c. 183, § 21, and M.G.L. c. 244, § 14. Upon default, Beneficiary or Trustee may, after providing all notices required by law, sell the Trust Property at public auction without judicial proceedings.

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.

NON-JUDICIAL FORECLOSURE BY POWER OF SALE

3.2 Proof of Ownership Required. Under Eaton v. Federal National Mortgage Association, 462 Mass. 569 (2012), to foreclose by power of sale, Beneficiary must either be the holder of the Note or demonstrate authority from the note holder. A recorded assignment (or chain of assignments) to the foreclosing party is required.

3.3 Right to Cure (M.G.L. c. 244, § 35A). For borrower-occupied dwellings with four or fewer units, Grantor has ninety (90) days to cure the default under state law. This right to cure is available only once during any five-year period.

3.4 150-Day Negotiation Period (M.G.L. c. 244, § 35B). Massachusetts law provides a 150-day right to cure period during which the lender and borrower will attempt to negotiate a modification or other resolution. After this period, if no agreement is reached, the lender may send a notice of acceleration.

3.5 Notice of Sale (M.G.L. c. 244, § 14). The mortgagee must:
(a) Mail notice to Grantor no fewer than fourteen (14) days before the date of sale;
(b) Publish notice weekly for three (3) weeks in a newspaper in the county where the property is located;
(c) First publication must be no fewer than twenty-one (21) days before the sale.

3.6 Foreclosure Sale. The sale shall be conducted at public auction on the mortgaged premises or at such place as may be designated in the notice of sale.

3.7 Foreclosure Deed. Following the sale, the mortgagee shall execute and record a foreclosure deed.

JUDICIAL FORECLOSURE BY ENTRY

3.8 Alternative Method. Massachusetts also permits foreclosure by entry (M.G.L. c. 244, §§ 1, 2), where the mortgagee takes possession of the property and holds it for three years, after which the mortgagor's equity of redemption is foreclosed.

3.9 Deficiency Judgment. Massachusetts permits deficiency judgments. The lender may pursue a deficiency action against Grantor for any balance remaining after the foreclosure sale.

ARTICLE IV - RELEASE

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

4.2 Recording. The discharge shall be recorded with the Registry of Deeds in the county or district where the Trust Property is located.

ARTICLE V - RECORDING REQUIREMENTS

5.1 Recording. This Deed of Trust shall be recorded with the [COUNTY] County Registry of Deeds (or the appropriate Registry District).

5.2 Excise Tax. Massachusetts excise tax on deeds shall be paid upon recording if applicable.

ARTICLE VI - MISCELLANEOUS PROVISIONS

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

COMMONWEALTH OF MASSACHUSETTS
COUNTY OF [COUNTY]

On this _____ day of ______________, 20___, before me, the undersigned notary public, personally appeared [GRANTOR NAME(S)], proved to me through satisfactory evidence of identification, which was/were [FORM OF ID], to be the person(s) whose name(s) is/are signed on the preceding or attached document, and acknowledged to me that he/she/they signed it voluntarily for its stated purpose.

_______________________________
Notary Public
My Commission Expires: ___________

[NOTARY SEAL]

EXHIBIT A

LEGAL DESCRIPTION

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

[INSERT COMPLETE LEGAL DESCRIPTION]

Parcel ID: [NUMBER]

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