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Deed to Secure Debt
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					                                      Deed to Secure Debt

STATE OF ______________

COUNTY OF ____________________

         THIS INDENTURE, made the ____day of (month), in the year 20___, by and between
(Name of Grantor), of the County of (Name of County) and State of (Name of State), as party of
the first part, hereinafter called Grantor, and (Name of Grantee), a corporation organized and
existing under the laws of the state of ______________, with its principal office located at
(street address, city, state, zip code), as party of the second part, hereinafter called Grantee.

        WITNESSETH, that Grantor, for the consideration hereinafter set forth, in hand paid at
and before the execution and delivery of these presents, the receipt and sufficiency of which are
hereby acknowledged, has granted, bargained, sold, aliened, conveyed, and confirmed, and by
these presents does grant, bargain, sell, alien, convey, and confirm unto the said Grantee, all
that tract or parcel of land known by its common street address as: (street address, city, state,
zip code), hereinafter called the Property, and being more specifically and completely described
in Exhibit A attached hereto and made a part hereof by reference.

        THIS CONVEYANCE is made under the provisions of the existing Code of the State of
(Name of State), to secure a Promissory Note in the principal sum of $____________, together
with interest thereon from date at the rate of ____% per annum on the unpaid balance until paid,
payable at (street address, city, state, zip code), or at such other place as the holder of said
Note may designate in writing, in (number) consecutive monthly installments of $__________,
with the first of said installments being due and payable on the (date), and each subsequent
monthly installment shall be due and payable on the first day of each succeeding month
thereafter until the entire indebtedness evidenced by the said Note is fully paid, except any
remaining indebtedness, if not sooner paid, shall be due and payable on (date).

1.       The indebtedness evidenced by said Note and hereby secured includes any renewal or
extension of any part or all of said indebtedness; and if any portion of said indebtedness or any
provision of this instrument shall be held invalid for any reason, it is the intent of the parties that
such portion shall be severable, and such invalidity shall not affect the remainder of said debt or
instrument. Grantee herein or its assigns may receive payment of the secured indebtedness
and execute a valid cancellation or re-conveyance hereof. No release of any part of the Property
herein described or extension of all or any part of the indebtedness hereby secured, shall affect
the personal liability of any person upon the indebtedness hereby secured, nor the priority of
this instrument.

TO HAVE AND TO HOLD the said bargained Property with all and singular the rights, members,
and appurtenances thereto appertaining, to the only proper use, benefit, and behalf of Grantee,
in fee simple, and Grantor hereby covenants that Grantor is lawfully seized and possessed of
said Property, and has a good right to convey it, and it is unencumbered; and Grantor, the said
bargained Property, unto Grantee, against Grantor, and against all and every other person or
persons shall and will WARRANT AND FOREVER DEFEND.

2.      Should the indebtedness hereby secured be paid according to the tenor and effect
thereof when the same shall become due and payable, and should Grantor perform all
covenants herein contained, then this Deed shall be canceled and surrendered, it being
intended by the parties hereto that this instrument shall operate as a deed, and not as a
mortgage.

3.       If all or any part of the Property or an interest therein is sold or transferred by Grantor
without Grantee's prior written consent, excluding (a) the creation of a lien or encumbrance
subordinate to this Deed, (b) the creation of a purchase money security interest for household
appliances, (c) a transfer by devise, descent, or by operation of law upon the death of a joint
tenant, or (d) of the grant of any leasehold interest of three years or less not containing an
option to purchase, Grantee may at Grantee's option declare all the sums secured by this Deed
to be immediately due and payable. Grantee shall have waived such option to accelerate if,
prior to the sale or transfer, Grantee and the person to whom the Property is to be sold or
transferred reach an agreement in writing that the credit of such person is satisfactory to
Grantee herein and the interest payable on the sums secured by this Deed shall be at such rate
as Grantee herein may establish.

4.      Acceptance by Grantee of one or more installment payments on the indebtedness
secured thereby subsequent to any sale or change in ownership or possession of said Property,
or any part thereof, and to which the Grantee has not granted her written consent, shall not
constitute a waiver of the Grantee's option to accelerate, which may be exercised by Grantee at
any time.

5.      The Grantor covenants and agrees, so long as any indebtedness secured hereby shall
remain unpaid, to keep the Property and all improvements thereon in as good condition as now
exists, natural wear and tear excepted, and also not to demolish, destroy, or remove any
permanent structure now existing on the premises or make any alteration thereon that would
constitute a structural change without the written consent of the Grantee; to pay all taxes and
assessments that may be liens upon said Property, as they become due; and to keep the
improvements on said Property fully insured, by an insurance company authorized to do
business in the state in which the Property is located, against loss by fire and such other
hazards as may, from time to time, be required by Grantee in amounts and companies and with
mortgage clause approved by Grantee naming Grantee as a loss payee (and if Grantee shall
not have specified an amount hereunder, then in an amount equal to not less than the
aggregate indebtedness at any time outstanding against the Property), and shall deliver the
policies (or other appropriate proof) of insurance and any renewals thereof to the said Grantee;
and that any tax, assessment, prior lien, or premium of insurance not paid when due by the
Grantor may be paid by the Grantee, and any sum so paid shall be added to the amount of said
principal debt as part thereof, shall draw interest from the time of said payment at the rate of ten
per cent per annum, and shall, with interest, be covered by the security of this Deed.

6.      Grantor hereby further covenants and agrees that in case of any default in any partial
payment of said indebtedness or in the due performance of any of the covenants herein
expressed to be performed by Grantor, then and in that event, the entire amount of said
principal indebtedness, together with any and all sums paid for account of Grantor in
accordance with the provisions above set forth, shall, at the option of Grantee, then and thereby
become and be due and payable forthwith, with accrued interest, and all expenses and cost of
collection, including
				
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Description: A Deed to Secure Debt is a type of mortgage used in many states whereby property is deeded to a lender to secure a debt. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
PARTNER William Glover
I received my B.B.A. from the University of Mississippi in 1973 and my J.D. from the University of Mississippi School of Law in 1976. I joined the firm of Wells Marble & Hurst in May 1976 as an Associate and became a Partner in 1979. While at Wells, I supervised all major real estate commercial loan transactions as well as major employment law cases. My practice also involved estate administration and general commercial law. I joined the faculty of Belhaven College, in Jackson, MS, in 1996 as Assistant Professor of Business Administration and College Attorney. While at Belhaven I taught Business Law and Business Ethics in the BBA and MBA programs; Judicial Process and Constitutional Law History for Political Science Department); and Sports Law for the Department of Sports Administration. I am now on the staff of US Legal Forms, Inc., and drafts forms, legal digests, and legal summaries. I am a LTC and was Staff Judge Advocate for the Mississippi State Guard from 2004-2008. I now serve as the Commanding Officer of the 220th MP BN at Camp McCain near Grenada, MS. I served on active duty during Hurricanes Dennis (July, 2005), Katrina (August, 2005) and Gustav in 2008. I played football at the University of Mississippi in 1969-1971 under Coach John Vaught. I am the author of the Sports Law Book (For Coaches and Administrators) and the Sports Law Handbook for Coaches and Administrators (with Legal Forms),