DEED OF TRUST

 

THIS DEED, Made and entered into this ____ day of, March, Two Thousand Six by and between Aa, a single person, (OR Aa and Ab, husband and wife,) Grantors, and Bb, Trustee, and American Land Company, Grantee, whose mailing address is: P O Box 720, Cherokee Village, AR, 72525.

The Grantors, in consideration of the debt and trust hereinafter mentioned, and the sum of ONE DOLLAR paid by the Trustee, does by these presents grant, bargain and sell, convey and confirm unto Trustee the following Camden County, Missouri real property:  All of Lot_____ of ____________________, a subdivision of record in Camden County, Missouri.                                                                     

IN TRUST, to secure the payment of the Note attached hereto and made a part hereof, which Grantors agree to pay according to the tenor thereof:

Grantors  also agree to pay all taxes and assessments, general and special, now existing against said lands or to become due in the future.

 If Grantor fails to perform such aforesaid agreements, then Grantee, or its assignees, may pay such taxes and assessments or any part thereof, and add same to the balance of the Note.

If the said Note and the interest thereon be paid when due, and all other amounts due shall be paid, then this Deed shall be void and the property hereinbefore conveyed shall be released at Grantors’ cost.  Should Grantors fail or refuse to pay the said debt or the interest or any part thereof, when the same or any part thereof shall become due and payable, or fail to perform any covenant or agreement as required herein, then the whole shall become due and payable and this Deed shall remain in force;

In which case, the Trustee, may proceed to sell the property, at public venue to the highest bidder for cash at the east front door of the Camden County courthouse, notice of the time, terms and place of sale, and of the property to be sold, by advertisement published as required by law, in some newspaper, printed and published in Camden County and upon such sale shall execute and deliver a Deed of Conveyance of the property to the purchaser or purchasers thereof, and any statement of facts or recital by Trustee, in relation to the non-payment of money hereby secured to be paid, existence of the indebtedness so secured, notice by advertisement, sale, receipt of money, and the happening of any of the events hereinafter provided whereby a Substitute Trustee may be appointed as provided herein, shall be prima facie evidence of the truth of such statement or recital;  and

 

Trustee shall receive the proceeds of said sale and shall apply said proceeds toward full payment of the following sums in the following order of priorities until said proceeds are fully distributed: FIRST, the cost and expenses of executing this Trust, including compensation to the Trustee for his services and including a reasonable attorney's fee; SECOND, to all sums secured by this Deed; THIRD, to the Grantors or their legal representative.

Grantee, at its option, may from time to time remove the Trustee and appoint a Substitute Trustee to any Trustee appointed hereunder by an instrument recorded in the County in which this Deed is recorded.  The Substitute Trustee shall succeed to all the title, power and duties conferred upon the Trustee herein and by applicable law.

IN WITNESS WHEREOF, the Grantors have hereunto set their hands the day and year first above written.

 

___________________________________

                                                            Aa (Buyer)

 

 

___________________________________

                                                            Ab (Buyer)

 

 

STATE OF ______________)

                                                 )ss

COUNTY OF ____________)

 

On this _____ day of _______, 2006, before me, ____________, a Notary Public, personally appeared, Aa, to me known to be the person described in and who executed the foregoing instrument, and acknowledged that he/she executed the same as his/her free act and deed, and Aa further declared himself/herself to be single and unmarried or married.

 

In Testimony Whereof, I have hereunto set my hand and affixed my official seal at my office in _______________________, the day and year last above written.

 

___________________________________

Notary Public

 

My commission expires:

 

                        (OR IF MARRIED USE THIS FORM)                      

 

On this _____ day of _______, 2006, before me, ____________, a Notary Public, personally appeared, Aa and Ab, his wife, to me known to be the persons described in and who executed the foregoing instrument, and acknowledged that they executed the same as their free act and deed.