Deed of Trust - South Dakota

PREPARED BY: [NAME]

Address: [MAILING ADDRESS]

Telephone: [PHONE NUMBER]

DEED OF TRUST AND MORTGAGE SECURITY INSTRUMENT

South Dakota — County of property: [COUNTY]

Before you use this: Match the Note, current title record, ownership, homestead status, and legal description. This instrument grants security for the debt and includes a power of sale; foreclosure by advertisement is available only if every statutory condition is met. Have South Dakota counsel and a title professional confirm the trustee's authority and recording requirements before signature.

Effective date: [__/__/____]

When recorded, return to: [NAME AND MAILING ADDRESS]

Trustor and mortgagor (property owner): [FULL LEGAL NAME AND MAILING ADDRESS]

Trustee: [FULL LEGAL NAME AND MAILING ADDRESS]

Beneficiary and mortgagee (lender): [FULL LEGAL NAME AND MAILING ADDRESS]

Trustor's marital and homestead status: [STATUS; WHETHER THIS PROPERTY IS A HOMESTEAD; WHETHER BOTH SPOUSES ARE SOUTH DAKOTA RESIDENTS]

1. Secured obligation

Trustor owes Beneficiary $[PRINCIPAL AMOUNT] under the promissory note dated [__/__/____] (the Note), due [MATURITY DATE OR "ON DEMAND"], with interest and payment terms stated in the Note. This instrument secures the Note, any written modification signed by Trustor and Beneficiary, and the specific protective advances authorized below. It does not secure unrelated debts.

2. Grant of security

To secure the obligations in Section 1, Trustor grants and conveys to Trustee, in trust for Beneficiary, a security interest in the real property described in Exhibit A, together with its improvements, fixtures, and appurtenances. Trustor also mortgages that property to Beneficiary. The parties intend this instrument to create a mortgage lien under South Dakota law. Trustor keeps possession and ordinary use until a lawful transfer or foreclosure changes that right.

Street address, if any: [ADDRESS]

Parcel or tax ID, if any: [NUMBER]

Existing title exceptions expressly accepted by Beneficiary: [IDENTIFY SPECIFIC RECORDED INSTRUMENTS OR "NONE STATED"]

3. Trustor's promises

Trustor shall pay the Note as agreed; pay property taxes and assessments before delinquency; keep insurable improvements covered by property insurance of [COVERAGE AND AMOUNT], naming Beneficiary as mortgagee or loss payee as appropriate; maintain the property against material waste; and give Beneficiary prompt written notice of a claim that materially impairs the security.

If Trustor fails to pay a required tax, assessment, or insurance premium after notice and any cure period required by the Note or law, Beneficiary may pay it to protect the property. The documented amount advanced, plus interest only if the Note or a signed agreement provides it, is added to the secured obligation.

4. Default and remedies

A default occurs when Trustor fails to pay an amount when due under the Note or materially breaches a promise in this instrument, subject to every applicable notice and cure requirement. Beneficiary shall give any notice required by the Note and law before accelerating the debt or pursuing a remedy.

Power of sale: After a default makes this power operative, Beneficiary may direct Trustee or another person lawfully authorized to conduct a foreclosure by advertisement, subject to SDCL 21-48-1 through 21-48-4 and every other applicable foreclosure requirement. The mortgage and every assignment must be recorded as required by § 21-48-2. No foreclosure by advertisement may proceed if the separate debt-action condition in § 21-48-4 is unsatisfied. The power of sale grants no exemption from statutory publication, service, sale, or redemption rules.

Beneficiary may instead pursue foreclosure by action where authorized by law. Once foreclosure by advertisement has begun, an eligible person may apply to the court under SDCL 21-48-9 to require foreclosure by action; this deed does not waive that right. No foreclosure route, sale date, redemption period, deficiency amount, or transfer of title is predetermined by this instrument.

5. Satisfaction and release

When the secured obligations are fully paid and performed, Beneficiary shall execute and deliver a recordable satisfaction or other release identifying this instrument and the property, and Trustee shall execute any additional instrument reasonably required to clear the trust conveyance. The parties shall record the appropriate instruments in the county where this deed was recorded.

6. Notices and governing law

Notices under this instrument must be in writing and sent to the last address designated by the recipient in writing. Statutory service and notice requirements control over this private notice clause. South Dakota law governs this instrument.

7. Signatures

Trustor executes this instrument on [__/__/____].

Trustor:

Signature: _____________________________________________

Printed name: _____________________________________________

Spouse's concurrence in a covered homestead encumbrance, if SDCL 43-31-17 applies: I concur in and sign this conveyance and encumbrance of the described homestead. This signature adds no personal liability on the Note.

Spouse signature: _____________________________________________

Spouse printed name: _____________________________________________

Spouse signing date: [__/__/____]

8. Acknowledgments

Trustor: State of [STATE]; County of [COUNTY]. On [DATE], before me, [OFFICER NAME], personally appeared [TRUSTOR NAME], known to me or satisfactorily proved to be the signer of this instrument, and acknowledged executing it for its stated purposes.

Officer signature and title: _____________________________________________

Commission expires: [DATE] [NOTARIAL SEAL]

Spouse, if signing: State of [STATE]; County of [COUNTY]. On [DATE], before me, [OFFICER NAME], personally appeared [SPOUSE NAME], known to me or satisfactorily proved to be the signer above, and acknowledged executing the spouse's concurrence for its stated purpose.

Officer signature and title: _____________________________________________

Commission expires: [DATE] [NOTARIAL SEAL]

Exhibit A — Legal description

County: [COUNTY], South Dakota

[INSERT COMPLETE LEGAL DESCRIPTION FROM CURRENT TITLE RECORD]

[CONTINUATION, IF NEEDED]

This template is provided for informational purposes only and does not constitute legal advice. Consult a qualified South Dakota attorney and title professional before using or recording it.