Deed of Trust

DEED OF TRUST

State of Nevada

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

SPACE ABOVE THIS LINE FOR RECORDER'S USE

Date: [DATE]
Document Number: _________________ (Recorder's Use)
Property Address: [PROPERTY ADDRESS, CITY, NV ZIP]
Assessor's Parcel Number: [APN]

DEED OF TRUST WITH ASSIGNMENT OF RENTS

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 irrevocably grants, bargains, sells, and conveys to Trustee, in trust, with POWER OF SALE, the following described real property situated in [COUNTY] County, Nevada:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

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

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

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 Power of Sale. Pursuant to NRS 107.080, a power of sale is conferred upon Trustee to be exercised after a breach of the obligation for which this transfer is security.

2.2 Successor Trustee. Beneficiary may appoint a successor Trustee by recording an instrument of substitution in the County Recorder's Office where this Deed of Trust is recorded.

2.3 Trustee's Duties. Trustee shall exercise the powers granted herein in accordance with NRS Chapter 107 and this Deed of Trust.

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 Non-Judicial Foreclosure (NRS 107.080). Upon default, Trustee may exercise the power of sale as follows:

(a) Notice of Default and Election to Sell. Trustee shall record a Notice of Default and Election to Sell with the County Recorder, containing:

• Identification of the Deed of Trust;
• A description of the default;
• Notice of election to sell the Trust Property.

(b) Waiting Period. Not less than three (3) months must elapse after the recording of the Notice of Default before the sale. For abandoned residential property using the expedited procedure under NRS 107.130, not less than sixty (60) days must elapse.

(c) Notice of Sale. After the waiting period, Trustee shall give notice of the time and place of sale by:

• Recording the Notice of Sale;
• Providing notice to Grantor and other entitled persons by personal service or by registered or certified mail;
• Posting notice for twenty (20) successive days in a public place in the county where the Trust Property is situated;
• Publishing notice in a newspaper of general circulation in the county.

5.3 Residential Foreclosure Additional Requirements (NRS 107.0805). For owner-occupied residential property, additional requirements apply:
(a) The required affidavit must state under penalty of perjury:

• The full name and business address of the current trustee;
• The current holder of the note;
• The current beneficiary of record;
• The current servicer of the obligation.
  (b) Grantor or the person holding title of record must have failed to cure the default at least five (5) days before the date of sale.

5.4 Conduct of Sale. Trustee shall sell the Trust Property at public auction to the highest bidder for cash. The sale shall be conducted at the time, date, and place specified in the Notice of Sale.

5.5 Effect of Sale (NRS 107.080(5)). Every sale made under NRS 107.080 vests in the purchaser the title of Grantor and any successors in interest without equity or right of redemption.

5.6 Trustee's Deed. Upon payment, Trustee shall execute and deliver a Trustee's Deed to the purchaser.

5.7 Void Sales. A sale may be declared void by a court if:
(a) Trustee does not substantially comply with NRS 107.080, 107.086, and 107.087; and
(b) An action is commenced within forty-five (45) days after the date of sale with a notice of lis pendens recorded within fifteen (15) days after commencement.

5.8 Application of Proceeds. Trustee shall apply the proceeds of sale:
(a) First, to costs and expenses of the sale;
(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 Deficiency Judgment. Nevada permits deficiency judgments in certain circumstances. Beneficiary may seek a deficiency judgment by filing a motion within six (6) months after the foreclosure sale.

ARTICLE VI - RECONVEYANCE

6.1 Full Reconveyance. Upon payment of all sums secured, Beneficiary shall request Trustee to reconvey the Trust Property. The reconveyance shall be without warranty.

6.2 Alternative Methods. Pursuant to NRS 107.073:
(a) A recorded deed of trust may be discharged by an entry on the margin of the record, signed by the Trustee in the presence of the Recorder;
(b) If recorded by microfilm or photographic process, a marginal release may not be used and an acknowledged reconveyance must be recorded.

6.3 When Beneficiary Cannot Be Located (NRS 107.079). If the debt has been paid and the current beneficiary cannot be located or refuses to execute a reconveyance, specific procedures apply under NRS 107.079.

6.4 Recording. The reconveyance shall be recorded 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 County Recorder of [COUNTY] County, Nevada.

7.2 Legal Description. The legal description in Exhibit A must accurately describe the Trust Property.

ARTICLE VIII - MISCELLANEOUS PROVISIONS

8.1 Governing Law. This Deed of Trust shall be governed by Nevada 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 Request for Notice. Grantor hereby requests copies of any Notice of Default and Notice of Sale.

8.6 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 NEVADA
COUNTY OF [COUNTY]

This instrument was acknowledged before me on ______________, 20___, by [GRANTOR NAME(S)].

_______________________________
Notary Public
My Commission Expires: ___________

[NOTARY SEAL]

EXHIBIT A

LEGAL DESCRIPTION

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

[INSERT COMPLETE LEGAL DESCRIPTION]

Assessor's Parcel Number (APN): [NUMBER]

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