Deed of Trust (Mortgage Alternative) - Wisconsin

DEED OF TRUST

(Mortgage Equivalent - Wisconsin)

State of Wisconsin

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

Date: [DATE]
Document Number: _________________ (Register of Deeds' Use)
Property Address: [PROPERTY ADDRESS, CITY, WI ZIP]
Parcel ID: [PARCEL ID]

IMPORTANT NOTICE - JUDICIAL FORECLOSURE STATE

This instrument does not grant the Trustee a private power of sale. If foreclosure is needed, the Beneficiary shall seek relief through a court action under Wis. Stat. ch. 846. The applicable sale period depends on the property, mortgage date, deficiency election, court findings, and statutory route.

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]

Homestead spouse joinder under Wis. Stat. § 706.02(1)(f): If this instrument encumbers a married Grantor's homestead, each spouse must sign this instrument or join by separate conveyance. The statute excepts a purchase money mortgage pledging that property as security; in that case only the purchaser must sign. Check the applicable basis: ☐ Each spouse signs below ☐ Spouse joins by separate conveyance attached ☐ Purchase money mortgage exception applies ☐ No married Grantor's homestead is encumbered.

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, the following described real property situated in [COUNTY] County, Wisconsin:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

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

TOGETHER WITH all buildings, improvements, and fixtures now or hereafter placed thereon; all easements, rights, appurtenances, rents, royalties, and profits.

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 - COVENANTS OF GRANTOR

Grantor covenants and agrees as follows:

2.1 Payment. Grantor shall pay when due the principal and interest on the debt evidenced by the Note and all other sums secured hereby.

2.2 Insurance. Grantor shall keep the improvements insured against loss by fire and other hazards, with Beneficiary named as loss payee.

2.3 Taxes and Assessments. Grantor shall pay before delinquency all taxes, assessments, and charges against the Trust Property.

2.4 Maintenance. Grantor shall maintain the Trust Property in good condition and repair and shall not commit or permit waste.

2.5 Defense of Title. Grantor shall defend title against all claims.

2.6 Compliance with Laws. Grantor shall comply with all laws, ordinances, and regulations affecting the Trust Property.

ARTICLE III - DEFAULT AND FORECLOSURE

3.1 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.

3.2 Court Enforcement. Beneficiary may enforce this security instrument by an action for foreclosure and sale in a court of competent jurisdiction, subject to Wis. Stat. ch. 846 and applicable federal law. Trustee has no contractual power to sell the property without a court order under this instrument.

3.3 Sale and Deficiency. The court shall determine the applicable foreclosure route, sale timing, possession, and any deficiency in accordance with ch. 846. No period stated in this instrument overrides a statutory requirement or court order. Beneficiary shall give notices required by applicable law and the loan documents.

ARTICLE IV - RELEASE

4.1 Satisfaction. Upon payment of all sums secured hereby, Beneficiary shall execute a Satisfaction of Mortgage suitable for recording.

4.2 Recording. The satisfaction shall be recorded with the Register of Deeds in the county where the Trust Property is located.

ARTICLE V - RECORDING REQUIREMENTS

5.1 Recording. This Deed of Trust shall be recorded with the Register of Deeds of [COUNTY] County, Wisconsin.

5.2 Recording Fees. Wisconsin recording fees shall be paid upon recording.

5.3 Filing Charges. The party presenting this instrument shall pay recording charges and complete any required return or exemption statement as determined by the Register of Deeds and applicable law.

ARTICLE VI - MISCELLANEOUS PROVISIONS

6.1 Governing Law. This Deed of Trust shall be governed by Wisconsin law.

6.2 Successors and Assigns. This Deed of Trust binds and benefits the heirs, executors, administrators, successors, and assigns of the parties.

6.3 Severability. If any provision is held invalid, all other provisions remain in full force.

6.4 Notices. All notices shall be in writing and sent to the addresses set forth above.

6.5 Entire Agreement. This Deed of Trust and the Note constitute the entire agreement of the parties.

ARTICLE VII - 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: _________________________

SPOUSE JOINING IN HOMESTEAD CONVEYANCE, IF REQUIRED:

_______________________________
[SPOUSE NAME]
Date: _________________________

ACKNOWLEDGMENT

STATE OF WISCONSIN
COUNTY OF [COUNTY]

Personally came before me this _____ day of ______________, 20___, the above-named [GRANTOR NAME(S) AND JOINING SPOUSE, IF ANY], to me known to be the person(s) who executed the foregoing instrument and acknowledged the same.

_______________________________
Notary Public, State of Wisconsin
My Commission Expires: ___________

[NOTARY SEAL]

EXHIBIT A

LEGAL DESCRIPTION

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

[INSERT COMPLETE LEGAL DESCRIPTION]

Parcel ID: [NUMBER]

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