Deed of Trust (Security Instrument)

DEED OF TRUST

New Hampshire Security Instrument Treated as a Mortgage Under RSA Chapter 479

Recording Information

After recording, return to:

[NAME]

[MAILING ADDRESS]

[CITY, STATE ZIP]

Property municipalities: [LIST EVERY CITY OR TOWN IN WHICH THE PROPERTY LIES]

County registry: [COUNTY] County Registry of Deeds

Tax map / lot: [MAP / LOT]

Prior title reference: Book [NUMBER], Page [NUMBER]

Before recording, counsel must confirm the current document standards of the applicable Registry of Deeds. RSA 478:4-a requires the instrument to state the grantee’s latest mailing address, name every municipality in the first sentence of the first description paragraph, print or type each signing party’s name beneath the signature, and be suitable for reproduction under registry standards.

Parties and Classification

This Deed of Trust (the “Security Instrument”) is made on [__/__/____] by:

RSA 479:1 provides that every conveyance of land made to secure payment or performance is a mortgage. The Parties therefore intend this Security Instrument to operate as a mortgage under RSA Chapter 479. Trustee holds the security interest as mortgagee of record in trust for Beneficiary, subject to the Note and this Security Instrument.

The secured property is:

☐ Owner-occupied dwelling of four or fewer units

☐ Other residential property

☐ Commercial or other nonresidential property

This classification does not replace the statutory definition of “residential mortgage” used in RSA 479:25.

1. Secured Obligation and Condition

Grantor owes Beneficiary the original principal amount of $[AMOUNT] under a promissory note dated [__/__/____] (the “Note”), with a stated maturity date of [__/__/____].

This Security Instrument secures:

1. payment and performance of the Note;
2. interest, lawful charges, and amounts advanced to protect the Property as provided in the loan documents;
3. renewals, extensions, and written modifications identified as secured; and
4. the following other specifically described obligation: [DESCRIPTION OR “NONE”].

The condition of this conveyance is that the Security Instrument becomes void upon complete payment and performance of the secured obligations and payment of damages and costs arising from nonperformance as provided by law and the loan documents.

RSA 479:2 requires the condition to be part of the conveyance and to state the sum secured or other performance required. Do not leave the secured amount or obligation indeterminate.

Future Advances or Obligations

☐ This Security Instrument does not secure future advances or future obligations beyond protective advances expressly authorized above.

☐ This Security Instrument secures future advances or obligations. Their nature, presently issued amount, and total maximum amount are:

• Nature: [DESCRIPTION]
• Present amount: $[AMOUNT]
• Maximum amount: $[AMOUNT]
• Governing agreement and limitations: [IDENTIFY DOCUMENT AND TERMS]

Counsel must draft this provision to comply with RSA 479:3 and RSA 479:5. RSA 479:3 ties priority for later advances or obligations to the maximum amount stated in the recorded mortgage, subject to RSA 447:12-a.

2. Mortgage Grant and Property

For value received and to secure the obligations stated above, Grantor grants and conveys to Trustee, as mortgagee of record in trust for Beneficiary, with mortgage covenants and with the statutory and contractual power of sale stated below, Grantor’s interest in the following real property:

The land in [MUNICIPALITY OR MUNICIPALITIES], [COUNTY] County, New Hampshire, described in Exhibit A.

Property address: [STREET, MUNICIPALITY, NEW HAMPSHIRE ZIP]

Together with Grantor’s interest in improvements, fixtures, easements, appurtenances, and other rights expressly described in Exhibit A (collectively, the “Property”). Counsel shall coordinate any security interest in personal property with a separate UCC security agreement and financing statement when required.

3. Grantor Covenants

Grantor shall:

1. pay and perform the secured obligations when due;
2. keep taxes, assessments, and senior liens current, subject to any good-faith contest allowed by the loan documents;
3. maintain the Property in reasonable condition and not commit waste;
4. maintain the insurance required by the loan documents and apply proceeds as those documents provide;
5. permit reasonable inspection on notice, subject to occupancy rights and applicable law;
6. notify Beneficiary of material casualty, condemnation, litigation, or title claims affecting the Property;
7. comply with laws materially affecting the Property; and
8. sign lawful instruments reasonably necessary to preserve the lien and its agreed priority.

4. Assignment of Leases and Rents

☐ No assignment of leases and rents is included.

☐ As additional security, Grantor assigns to Trustee for Beneficiary all leases and rents from the Property, subject to Grantor’s revocable license to collect them before an uncured default. Counsel shall state enforcement, possession, receiver, cash-management, and tenant-notice terms here or in a separately recorded assignment: [TERMS].

5. Default and Cure

An “Event of Default” occurs only after any notice and cure period required by the Note, this Security Instrument, and applicable law. Events may include:

• failure to pay a secured amount when due;
• material breach of a covenant in the loan documents;
• a materially false representation on which the loan was made;
• an unauthorized transfer if the due-on-transfer provision is enforceable; or
• another specifically negotiated event: [TERM].

Contract notice and cure period: [NUMBER] days after [METHOD OF NOTICE], except [EMERGENCY OR NONCURABLE EVENTS].

Nothing in this clause shortens a mandatory statutory notice period or eliminates a nonwaivable defense.

6. Power of Sale

Grantor grants Trustee, as mortgagee of record, a power of sale upon an uncured breach of the secured condition. Trustee may exercise that power only while authorized as the mortgagee or assignee entitled to foreclose and only in strict compliance with the loan documents and current law, including RSA 479:25 and RSA 479:26.

6.1 Statutory Notice Checklist

This checklist summarizes current RSA 479:25 and must be rechecked when foreclosure begins:

• Publish notice once a week for three successive weeks in a qualifying newspaper; the first publication must be at least 20 days before sale, excluding the first-publication and sale dates.
• Serve the mortgagor or send notice by registered or certified mail at least 25 days before sale, or at least 45 days before sale for a residential mortgage.
• Send like notice to qualifying recorded subordinate-interest holders and lienholders within the different recording lookback and notice periods stated in RSA 479:25, II(a).
• Include the sale date, time, place, property location information, mortgage date and recording reference, and sale terms.
• For an owner-occupied dwelling of four or fewer units, include the mortgagee service information and Banking Department foreclosure-hotline language required by RSA 479:25, II(b).
• In every mortgagor notice, include verbatim the statutory superior-court injunction notice required by RSA 479:25, II(c).

RSA 479:25 does not impose the generic “post on the Property for 25 days” requirement that appeared in the prior version of this template.

6.2 Sale Location and Conduct

The sale shall be held on the Property unless this Security Instrument validly agrees to a different place. Agreed place, if any: [LOCATION]. The sale shall follow the power, the published and mailed notice, and applicable law.

6.3 Foreclosure Deed, Affidavit, and Recording

The person selling under the power shall execute the foreclosure deed and affidavit required by RSA 479:26 and, within 60 days after sale, cause the deed, a copy of the sale notice, and the affidavit fully describing the foreclosure acts to be recorded in the registry where the Property lies, subject to the court-order, stay, and Bankruptcy Code extension stated in RSA 479:26.

Title passes to the purchaser upon recording as provided in RSA 479:26, III. Counsel shall handle sale proceeds, junior interests, surplus, and any claimed deficiency under the governing loan documents and current law; this template does not prescribe an automatic distribution or deficiency judgment.

6.4 Redemption

RSA 479:18 permits redemption after breach and before foreclosure by payment or tender of the secured demands and performance, damages, and costs described there. The Parties shall not describe a post-sale redemption right without current legal authority.

7. Trustee Status and Successor

1. Trustee acts only in the capacity expressly stated in this Security Instrument and applicable law.
2. Beneficiary may direct Trustee only to the extent consistent with Trustee’s recorded interest and legal duties.
3. No successor may exercise the power of sale merely because Beneficiary signs a private substitution. Before a successor acts, New Hampshire counsel shall prepare and record every assignment, appointment, acceptance, note-transfer evidence, or other instrument needed to vest the successor with authority as mortgagee or assignee under RSA Chapter 479.
4. Trustee may rely on written payoff, default, and direction information from Beneficiary unless Trustee has actual knowledge that reliance would be improper.

8. Protective Advances

After any required notice, Beneficiary may advance amounts reasonably necessary to protect the Property or lien, including permitted taxes, insurance, senior liens, emergency preservation, and title-defense costs. Only amounts lawfully chargeable under the loan documents are added to the secured obligation.

9. Discharge

1. When the secured mortgage is satisfied, the mortgagee shall provide the written discharge required by RSA 479:7.
2. After satisfaction and tender of reasonable recording charges, the mortgagee shall cause the discharge to be recorded within 60 days in the registry where the land lies and provide written confirmation to the payor of the final payment, as RSA 479:7 requires.
3. If the mortgagee fails to discharge after payment in accordance with its payoff statement, RSA 479:7-a permits the mortgagor or one of the other persons specifically listed there—not only an attorney—to record an affidavit after the statutory 60-day period, certified-mail notice, proposed-affidavit delivery, and other conditions are met.
4. A false affidavit may carry the statutory penalty in RSA 479:7-a, IV. Use the affidavit procedure only through New Hampshire counsel.

10. Notices

Except for foreclosure or other notices governed by mandatory law, notices under this Security Instrument shall be sent by [METHOD] to:

• Grantor: [ADDRESS]
• Trustee: [ADDRESS]
• Beneficiary: [ADDRESS]

A changed address is effective after written notice. No contractual notice method replaces registered mail, certified mail, service, publication, or other process required by RSA 479:25.

11. General Terms

1. Governing law. New Hampshire law governs this Security Instrument.
2. Relationship to Note. This Security Instrument secures but does not replace the Note. If terms conflict, counsel shall apply the term that lawfully preserves the intended secured obligation without expanding the recorded condition beyond RSA 479:2.
3. No oral modification. A modification affecting the secured obligation, lien, priority, maturity, parties, or Property must be written and recorded when required.
4. Severability. An invalid term shall be narrowed only to the extent lawful, without invalidating the mortgage grant if the essential secured condition remains ascertainable.
5. Successors. This Security Instrument binds and benefits lawful successors and assigns, subject to recording, note-transfer, and foreclosure-authority requirements.
6. Construction. “Including” is nonexclusive. Singular and plural adapt to context. Headings do not change meaning.

12. Grantor Execution

RSA 477:3 requires the grantor to sign and acknowledge a real-estate conveyance and requires the grantee’s mailing address. Every signing party’s name must also be printed or typed beneath the signature under RSA 478:4-a.

Grantor signs this Security Instrument on [__/__/____].

Signature: ______________________________

Printed name: [GRANTOR NAME]

Signature: ______________________________

Printed name: [ADDITIONAL GRANTOR NAME]

Acknowledgment

State of New Hampshire

County of [COUNTY]

This instrument was acknowledged before me on [__/__/____] by [GRANTOR NAME(S)].

Notary Public / Justice of the Peace: ______________________________

Printed name: [NAME]

Commission expires: [__/__/____]

Exhibit A — Legal Description

The land in [LIST EVERY MUNICIPALITY], [COUNTY] County, New Hampshire, is described as follows:

[INSERT COMPLETE LEGAL DESCRIPTION AND TITLE REFERENCE]

Together with: [APPURTENANCES OR EXPRESS EXCLUSIONS]

Sources and References

• RSA 477:3 — execution and acknowledgment
• RSA 478:4-a — form of records
• RSA Chapter 479 — mortgages of realty