Deed of Trust - Nevada

Assessor's parcel number (top left of first page, if assigned): [APN]

DEED OF TRUST

Before you use this deed: This security instrument must accompany a completed note or other identified obligation. Confirm that the named trustee qualifies under NRS 107.028 and is not the beneficiary exercising the power of sale, and that every record owner required to encumber the property signs. Print the first page with a 3 inch by 3 inch blank area at upper right and the required margins (NRS 247.110(3)).

Recording requested by / return to: [NAME AND MAILING ADDRESS]

Beneficiary's mailing address: [NAME AND MAILING ADDRESS]

Mail property-tax statements to: [NAME AND MAILING ADDRESS]

Prepared by: [NAME AND MAILING ADDRESS]

Parties and secured obligation

This Deed of Trust is made on [DATE] by [TRUSTOR NAME(S) AND ADDRESS] (Trustor), to [TRUSTEE NAME AND ADDRESS] (Trustee), for the benefit of [BENEFICIARY NAME AND ADDRESS] (Beneficiary).

Trustor owes Beneficiary the principal amount of $[AMOUNT] under the ☐ promissory note ☐ other written obligation dated [DATE], executed by [BORROWER NAME(S)] (the Secured Obligation). The Secured Obligation states the interest, payment dates, maturity, and any prepayment terms. This Deed of Trust also secures advances made under its express terms, and authorized modifications or extensions of the Secured Obligation, to the extent lawful and agreed in writing.

Transfer in trust as security

To secure payment and performance of the Secured Obligation, Trustor conveys to Trustee, in trust, with power of sale, Trustor's interest in the real property in [COUNTY] County, Nevada described in Exhibit A, together with its fixtures, improvements, easements, and appurtenant rights (the Property). This is a transfer in trust to secure a debt under NRS 107.020. The address is [PROPERTY ADDRESS] for identification only.

The words “grant, bargain and sell” are deliberately omitted; no statutory covenant is intended under NRS 111.170. Trustor warrants that Trustor has authority to encumber the stated interest, subject to the exceptions listed here: [EXCEPTIONS OR “NONE”].

Trustor's covenants

1. Payment. Trustor will pay and perform the Secured Obligation when due.
2. Taxes and charges. Trustor will pay taxes, assessments, and senior charges before delinquency, subject to any good faith contest that does not materially impair this security.
3. Insurance and care. Trustor will keep improvements reasonably insured for the risks and amounts stated in the Secured Obligation or an attached rider, name Beneficiary as mortgagee or loss payee as applicable, maintain the Property, and avoid waste.
4. Protective advances. If Trustor fails to pay a charge or maintain required insurance after any notice required by the loan documents or law, Beneficiary may pay it. Reasonable amounts paid under this paragraph become secured advances, with interest only at the rate permitted by the Secured Obligation and applicable law.
5. Notices. Notices under this instrument must be in writing to the addresses above or a later written replacement address, using the method required by the Secured Obligation and applicable law. Statutory foreclosure notices must follow Nevada law.

Default and remedies

A failure to pay or perform the Secured Obligation or a material covenant in this Deed of Trust, after any applicable notice and opportunity to cure, is a default. Beneficiary may exercise remedies provided in the Secured Obligation and Nevada law. A trustee's power of sale after breach exists under NRS 107.080(1), subject to all applicable statutory requirements. This deed does not shorten any statutory protection or enlarge a permitted deficiency remedy.

Beneficiary may appoint a qualified successor trustee. A substitution is effective only when recorded in the county where the Property lies (NRS 107.028(5)).

When the secured debt is fully paid or otherwise satisfied, Beneficiary and Trustee will perform the request and reconveyance duties under NRS 107.077. The reconveyance must be recorded as required by that section.

Other terms

Nevada law governs this Deed of Trust. Its terms bind the parties and their permitted successors and assigns. If a provision is unenforceable, the remainder applies to the extent it can operate independently. An amendment must be in writing and signed by the parties whose rights it changes.

Attached riders: ☐ None ☐ [IDENTIFY EACH RIDER]

Execution

Executed on [DATE].

TRUSTOR(S):

[TRUSTOR SIGNATURE]

[PRINTED NAME]

[ADDITIONAL TRUSTOR SIGNATURE, IF APPLICABLE]

[PRINTED NAME]

Acknowledgment

State of [STATE]

County of [COUNTY]

This instrument was acknowledged before me on [DATE] by [TRUSTOR NAME(S)].

[NOTARY SIGNATURE]

[PRINTED NAME AND TITLE]

My commission expires: [DATE]

[NOTARIAL SEAL]

Exhibit A — Legal description

[INSERT COMPLETE LEGAL DESCRIPTION FROM CURRENT TITLE RECORD]

If this is a new metes-and-bounds description, identify its preparer: [NAME AND MAILING ADDRESS]. If the same description was previously recorded, identify the prior recording: [INSTRUMENT NUMBER]. See NRS 111.312(5)-(6).

Recording: Record the signed and acknowledged deed in the county where the Property lies (NRS 111.310, 111.315). Include the assigned APN at the upper left of the first page and the relevant mailing addresses (NRS 111.312).