Deed of Trust - Wyoming

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's Acceptance. Trustee accepts this trust by signing below or by exercising a power under this Deed of Trust.

2.2 Successor Trustee. Beneficiary may designate a successor Trustee by a written, acknowledged appointment recorded in the county where the Trust Property lies. Grantor shall execute any further instrument needed to vest the Trust Property in the successor Trustee. An appointment or transfer is effective only to the extent permitted by law.

2.3 Trustee's Powers. Trustee may exercise the power of sale granted in this instrument in accordance with Wyo. Stat. §§ 34-3-102 and 34-3-103.

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, to the extent that this covenant may be enforced under applicable law.

5.2 Trustee Sale. After a secured debt becomes payable and Grantor defaults in payment, Beneficiary may require Trustee to sell the Trust Property, or as much as necessary, at public auction for cash under Wyo. Stat. § 34-3-102. Beneficiary may also pursue any judicial remedy available under applicable law.

5.3 Notice of Sale. Trustee shall give the sale notice required by Wyo. Stat. §§ 34-3-102, 34-3-103 and 34-4-104. The notice shall identify the sale time and place; parties to this Deed of Trust; its date, recording office and book; the quantity and description of the property; the persons secured; the amount secured and when payable; any credits; and the principal and interest claimed due and unpaid. Trustee shall publish notice at least once each week for four consecutive weeks in a newspaper printed in the property county or, if none is printed there, a Wyoming newspaper of general circulation in that county. Before first publication, Trustee shall serve a copy by certified mail with return receipt requested on the record owner, any different person in possession, and holders of recorded subordinate mortgages or liens appearing of record at least 25 days before the scheduled sale, as provided in § 34-4-104. Proof of compliance shall be made by affidavit.

5.4 Cure. Grantor may cure a default as provided in the Note, any written agreement with Beneficiary, or applicable law.

5.5 Conduct of Sale. Trustee shall conduct the sale at the noticed time and place, by public auction for cash, and convey the property sold to the purchaser by trustee's deed under Wyo. Stat. §§ 34-3-102 and 34-3-104.

5.6 Application of Proceeds. Trustee shall apply proceeds first to expenses of executing the trust, including Trustee's statutory commission; then to the debts secured by this Deed of Trust pro rata, unless this Deed of Trust specifies a different priority; and pay any surplus to Grantor or Grantor's heirs, personal representatives, or assigns, as provided in Wyo. Stat. § 34-3-102.

5.7 Redemption and Unpaid Balance. This Deed of Trust does not waive a redemption right available under applicable law. Beneficiary may seek payment of any balance remaining after sale only as allowed by applicable law.

ARTICLE VI - RECONVEYANCE

6.1 Release. Upon full satisfaction of the secured obligations, Beneficiary shall execute an acknowledged certificate or deed of release, or cause Trustee to do so, for recording under Wyo. Stat. § 34-1-130.

6.2 Recording. The release shall be recorded in the county where the Trust Property is located.

ARTICLE VII - RECORDING REQUIREMENTS

7.1 Acknowledgment and Recording. Grantor shall acknowledge this Deed of Trust before a notarial officer. This Deed of Trust shall be recorded with the County Clerk of [COUNTY] County, Wyoming. See Wyo. Stat. §§ 34-1-113 and 34-1-118.

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 a copy of any Notice of Sale at the address stated above, or any later address Grantor provides to Beneficiary in writing.

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: _________________________

TRUSTEE (acceptance):

_______________________________
[TRUSTEE 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]