Deed of Trust

DEED OF TRUST

State of Wyoming

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

SPACE ABOVE THIS LINE FOR COUNTY CLERK'S USE

Date: [DATE]
Document Number: _________________ (Clerk's Use)
Property Address: [PROPERTY ADDRESS, CITY, WY ZIP]
Parcel ID: [PARCEL ID]

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");

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, Wyoming:

SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

Property Address: [PROPERTY ADDRESS], [CITY], Wyoming [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 Trustee Qualifications. The Trustee of this Deed of Trust shall be:
(a) A bank, trust company, title insurance company, or savings and loan association authorized to do business in Wyoming;
(b) An attorney licensed to practice law in Wyoming; or
(c) Any other person or entity meeting the qualifications set forth in Wyoming law.

2.2 Successor Trustee (W.S. § 34-4-103). Beneficiary may appoint a successor Trustee by recording an appointment or substitution instrument with the County Clerk where this Deed of Trust is recorded. The successor Trustee shall succeed to all title, powers, and duties of the original Trustee without any conveyance.

2.3 Trustee's Powers. Trustee is given the power of sale and other powers as provided by Wyoming Statutes.

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 Foreclosure Options. Upon default, Beneficiary may elect to foreclose:
(a) By non-judicial power of sale under W.S. § 34-4-104 et seq.; or
(b) By judicial foreclosure as provided by law.

5.3 Non-Judicial Foreclosure (W.S. § 34-4-104).

(a) Notice of Intent to Foreclose. Trustee shall record a Notice of Intent to Foreclose in the County Clerk's office where the Trust Property is located.

(b) Mailing of Notice. Trustee shall mail a copy of the Notice of Intent to Foreclose by certified mail, return receipt requested, to:

• Grantor at Grantor's last known address; and
• Any other parties entitled to notice under the Deed of Trust or by law.

(c) Waiting Period. Trustee shall not schedule a sale until at least ten (10) days after mailing the Notice of Intent to Foreclose.

5.4 Notice of Sale (W.S. § 34-4-104). The Notice of Sale shall:
(a) Describe the Trust Property;
(b) State the date, time, and place of sale;
(c) Identify the default and the amount due;
(d) Be published once a week for four (4) consecutive weeks in a newspaper of general circulation in the county where the Trust Property is located.

5.5 Cure Period. Grantor may cure the default at any time prior to the sale by paying all arrears plus costs and fees.

5.6 Place of Sale. The sale shall be held at the front door of the county courthouse.

5.7 Conduct of Sale. The sale shall be:
(a) At public auction;
(b) At the date, time, and place specified in the Notice of Sale;
(c) To the highest bidder.

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

5.9 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.

5.10 Redemption. Wyoming provides a statutory right of redemption. Following a non-judicial foreclosure sale, the debtor or lien creditor may redeem the property within three (3) months from the date of sale by paying the purchase price plus interest and certain costs.

5.11 Deficiency. Wyoming permits deficiency judgments. If sale proceeds are insufficient, Beneficiary may pursue a deficiency judgment against Grantor within ninety (90) days of 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 without warranty.

6.2 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 Clerk of [COUNTY] County, Wyoming.

7.2 Required Information. This instrument includes the names and addresses of Grantor, Trustee, and Beneficiary, and a legal description of the Trust Property.

ARTICLE VIII - MISCELLANEOUS PROVISIONS

8.1 Governing Law. This Deed of Trust shall be governed by Wyoming 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 Intent to Foreclose 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 WYOMING
COUNTY OF [COUNTY]

On this _____ day of ______________, 20___, before me, the undersigned Notary Public, personally appeared [GRANTOR NAME(S)], known to me to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same.

_______________________________
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 Wyoming, and is described as follows:

[INSERT COMPLETE LEGAL DESCRIPTION]

Parcel ID: [NUMBER]

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