DEED OF TRUST

State of Tennessee

PREPARED BY:
[PREPARER NAME]
[ADDRESS]
[CITY, STATE ZIP]

RETURN TO:
[NAME]
[ADDRESS]
[CITY, STATE ZIP]

Date: [DATE]
Instrument Number: _________________ (Register's Use)
Property Address: [PROPERTY ADDRESS, CITY, TN ZIP]
Tax Map/Parcel: [TAX MAP NUMBER]

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"), with interest thereon;

NOW, THEREFORE, Grantor does hereby bargain, sell, grant, and convey to Trustee, and Trustee's successors in trust, with POWER OF SALE, the following described real property situated in [COUNTY] County, Tennessee:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

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

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

TO HAVE AND TO HOLD the same unto Trustee, and Trustee's successors in trust, upon the trusts and for the purposes hereinafter 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 Power of Sale. The power of sale granted herein allows Trustee to sell the Trust Property in a non-judicial foreclosure proceeding in accordance with T.C.A. § 35-5-101 et seq.

2.2 Trustee Attendance at Sale. Pursuant to T.C.A. § 35-5-114, Trustee may attend the foreclosure sale either in person or by an agent. If Trustee attends by an agent, the agent may receive bids and conduct the sale on behalf of Trustee. Trustee shall execute any applicable Trustee's Deed.

2.3 Substitution of Trustee. Beneficiary may, unless this Deed of Trust contains specific language to the contrary, appoint a successor Trustee at any time by filing a Substitution of Trustee for record with the Register of Deeds of the county in which the Trust Property is situated, pursuant to T.C.A. § 35-5-114.

2.4 Non-Resident Trustee Notice. If Trustee is not a resident of Tennessee, at least ten (10) business days prior to the sale, Trustee shall send notice by registered or certified mail to Grantor giving the name and address of a registered agent of the substitute Trustee located in Tennessee.

2.5 Trustee's Compensation. Trustee shall be entitled to reasonable compensation for services rendered.

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. Tennessee permits non-judicial foreclosure by Trustee in accordance with the terms of this Deed of Trust and T.C.A. § 35-5-101 et seq.

5.3 Notice Requirements. Pursuant to T.C.A. §§ 35-5-101 through 35-5-103:

(a) Publication. Trustee shall give notice of sale by publishing the notice in a newspaper published in the county where the sale is to be made:
- Three (3) different times; OR
- Once a week for three (3) consecutive weeks;
- With the first publication at least twenty (20) days before the sale.

(b) Alternative Posting. If no newspaper is published in the county where the sale is to be held, Trustee shall post the notice of sale in several public places thirty (30) days before the sale.

(c) Mailing to Debtor. On or before the first publication date, Trustee shall mail a copy of the notice of sale to Grantor (debtor) at Grantor's last known address.

5.4 Notice Contents. The notice of sale shall include:
(a) Names of all interested parties;
(b) A specific property description;
(c) The time and place of sale;
(d) Any other information required by statute or this Deed of Trust.

5.5 Conduct of Sale. The sale shall be conducted:
(a) At the time and place specified in the notice;
(b) At public auction to the highest bidder;
(c) For cash, unless other terms are specified in this Deed of Trust.

5.6 Trustee's Deed. Upon completion of the sale, Trustee shall execute and deliver a Trustee's Deed to the purchaser, conveying the Trust Property.

5.7 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.

5.8 Deficiency Judgment. Deficiency judgments are permitted in Tennessee. If the sale proceeds are insufficient to satisfy the debt, Beneficiary may pursue a deficiency judgment against Grantor.

5.9 Right of Redemption. Tennessee law provides a two (2) year statutory right of redemption after foreclosure sale. However, this right is waived if the Deed of Trust or Note contains a waiver of redemption rights.

☐ WAIVER OF REDEMPTION RIGHTS: Grantor hereby waives any statutory right of redemption under Tennessee law.

ARTICLE VI - RECONVEYANCE

6.1 Release. Upon payment of all sums secured hereby, Beneficiary shall request Trustee to release this Deed of Trust by executing and delivering a Release or Deed of Release to be recorded in the Register's Office.

6.2 Recording. The release 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 Register of Deeds of [COUNTY] County, Tennessee.

7.2 Recording Requirements. This instrument includes:
- Debtor (Grantor) name
- Secured party (Beneficiary) name
- Trustee name
- Property description
- Current derivation clause
- Maximum principal indebtedness for Tennessee Recording Tax purposes
- Oath of consideration (taxable)
- Proper signatures with full acknowledgment

7.3 Note: Witnesses are not required on a deed or deed of trust in Tennessee, but a full acknowledgment is required.

ARTICLE VIII - MISCELLANEOUS PROVISIONS

8.1 Governing Law. This Deed of Trust shall be governed by Tennessee 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 TENNESSEE
COUNTY OF [COUNTY]

Before me, the undersigned Notary Public of the State and County aforesaid, personally appeared [GRANTOR NAME(S)], with whom I am personally acquainted (or proved to me on the basis of satisfactory evidence), and who acknowledged that he/she/they executed the within instrument for the purposes therein contained.

WITNESS my hand and seal at office this _____ day of ______________, 20___.

_______________________________
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 Tennessee, and is described as follows:

[INSERT COMPLETE LEGAL DESCRIPTION]

Tax Map/Parcel Number: [NUMBER]

BEING the same property conveyed to [GRANTOR NAME] by [DEED TYPE] dated [DATE] and recorded in [BOOK/INSTRUMENT] at [PAGE/NUMBER] in the Register's Office of [COUNTY] County, Tennessee.

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