Deed of Trust (Security Instrument)

DEED OF TRUST

State of New Hampshire

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

SPACE ABOVE THIS LINE FOR REGISTRY OF DEEDS' USE

Date: [DATE]
Book/Page: _________________ (Registry's Use)
Property Address: [PROPERTY ADDRESS, CITY, NH ZIP]
Tax Map/Lot: [TAX MAP/LOT]

IMPORTANT NOTICE

New Hampshire is primarily a mortgage state. While deeds of trust are valid, the predominant form of security instrument in New Hampshire is a mortgage with a power of sale. This template is provided for transactions where parties prefer a deed of trust structure. Foreclosure procedures will generally follow those applicable to mortgages under RSA Chapter 479.

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, with POWER OF SALE, the following described real property situated in [COUNTY] County, New Hampshire:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

Property Address: [PROPERTY ADDRESS], [CITY], New Hampshire [ZIP CODE]

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

TO HAVE AND TO HOLD the same unto Trustee, in trust, upon the terms and conditions herein set forth.

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

2.2 Trustee's Powers. Trustee is given the power of sale and other powers as may be exercised under New Hampshire law for mortgages with power of sale.

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 Foreclosure under Power of Sale. New Hampshire permits foreclosure under a power of sale contained in a mortgage or deed of trust. The foreclosure procedures under RSA Chapter 479 shall apply.

5.3 Pre-Foreclosure Notice. For residential properties, New Hampshire law requires certain pre-foreclosure notices. See RSA 479:25 for specific requirements.

5.4 Notice Requirements (RSA 479:25). The notice of sale shall:
(a) Be published in a newspaper of general circulation in the county where the Trust Property is located at least once a week for three (3) successive weeks, with the first publication at least twenty-one (21) days before the sale;
(b) Be mailed to Grantor at least twenty-five (25) days before the sale;
(c) Be posted on the Trust Property at least twenty-five (25) days before the sale.

5.5 Contents of Notice. The notice shall include:
(a) The date, time, and place of sale;
(b) A description of the Trust Property;
(c) The name of Grantor and Beneficiary;
(d) The terms of sale.

5.6 Conduct of Sale. The sale shall be:
(a) At public auction;
(b) At the time and place specified in the notice;
(c) To the highest bidder.

5.7 Trustee's Deed. Upon completion of the sale, Trustee shall execute and deliver a Trustee's Deed (or Foreclosure Deed) to the purchaser.

5.8 Application of Proceeds. Trustee shall apply the proceeds of sale:
(a) First, to costs and expenses of the sale, including Trustee's fees and reasonable attorney's fees;
(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.

5.9 No Redemption After Sale. New Hampshire does not provide a statutory right of redemption following a power of sale foreclosure.

5.10 Deficiency. New Hampshire permits deficiency judgments. If sale proceeds are insufficient, Beneficiary may pursue a deficiency judgment against Grantor.

ARTICLE VI - RECONVEYANCE

6.1 Discharge. Upon payment of all sums secured hereby, Beneficiary shall execute a discharge of this Deed of Trust suitable for recording.

6.2 Failure to Discharge. If Beneficiary fails to release the Deed of Trust after receiving payment, an attorney licensed in New Hampshire may release it by affidavit pursuant to RSA 479:7-a.

6.3 Recording. The discharge shall be recorded with the Registry of Deeds 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 Registry of Deeds of [COUNTY] County, New Hampshire.

7.2 Recording Requirements. See RSA 478:4-a for recording requirements, including legal description requirements.

ARTICLE VIII - MISCELLANEOUS PROVISIONS

8.1 Governing Law. This Deed of Trust shall be governed by New Hampshire 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 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 NEW HAMPSHIRE
COUNTY OF [COUNTY]

On this _____ day of ______________, 20___, before me, the undersigned Notary Public (or Justice of the Peace), personally appeared [GRANTOR NAME(S)], known to me (or proved to me on the basis of satisfactory evidence) 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 / Justice of the Peace
My Commission Expires: ___________

[NOTARY SEAL]

EXHIBIT A

LEGAL DESCRIPTION

The land referred to herein is situated in [TOWN/CITY], County of [COUNTY], State of New Hampshire, and is described as follows:

[INSERT COMPLETE LEGAL DESCRIPTION]

Tax Map/Lot: [NUMBER]

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