Deed of Trust Certificate
This Deed of Trust Certificate is hereby made on the XX of Month, 2020, between the One, known as the Trustor, and Two, known as of the Trustees (collectively, the “Trustees”).
Whereas, the Trustor desires to execute and deliver a deed of trust to securing, evidencing and setting forth the performance of all conditions, agreements and obligations respectively owed to the Trustor by each of the Trustees.
Now, therefore, in consideration of the premises, the mutual covenants and agreements herein, the Trustor and the Trustees do herewith agree as follows:
1. PURPOSE OF TRUST:
The purpose of this Deed of Trust is to secure, evidence, and set forth the performance of all the matters, obligations, liabilities and agreements owed by the Trustees to the Trustor, in accordance with applicable law.
2. DEFINITIONS:
For the purposes of this Deed of Trust, the following shall have the following meanings:
A. Trustor: The Trustor is the person from whom the Trustees receive the obligation to be secured by this Deed of Trust.
B. Trustees: The Trustees are the persons who are obligated to the performance of the Trustor’s obligations and will undertake to carry out the purpose of this Deed of Trust.
C. Act: Shall mean any act, deed, transaction, or other thing done or omitted to be done by the Trustees, or their representatives, agents, or by any third party, pursuant to or in connection with this Deed of Trust.
3. OBLIGATIONS:
The Trustees acknowledge and agree to perform all obligations, liabilities and agreements that are owed to the Trustor in accordance with this Deed of Trust. The Trustees also agree to indemnify, hold harmless and defend the Trustor from and against any liability resulting from any default or breach of any obligation, liability, or agreement which is specified in this Deed of Trust.
4. OWNERSHIP OF TRUST PROPERTY:
All property accepted in trust by the Trustees under this Deed of Trust is hereby specifically deemed to remain the property of the Trustor. The Trustees shall not have any title, ownership, or other property interest in the trust property, other than the right to carry out the specified duties of the trustees.
5. ADMINISTRATION OF TRUST:
A. The Trustees shall have sole responsibility to see that the Trustor’s objectives as represented in this Deed of Trust are being met.
B. The Trustees shall have the authority to make all decisions regarding this trust, subject to the Trustor’s permission or such permission as the Trustees deem advisable to obtain. Such decisions shall be documented in writing and shall be binding on all Trustees.
C. The Trustees shall manage and record all trust accounts, assets and related documents. All trust accounts, assets and documents shall be maintained in good order, safekeeping and be free of any liens, levies, encumbrances, or security interests.
6. TRUSTEE REMOVAL & REPLACEMENT
A. A Trustee may be removed or replaced by the Trustor without cause, upon written notice to such Trustee and the other Trustees.
B. Upon such removal or replacements, a new Trustee shall become the holder of such trust property and any remaining Trustees shall become surety for such trust property.
7. MODIFICATIONS & AMENDMENTS
No modification or amendment of this Deed of Trust shall be effective unless made in writing and signed by all parties.
8. SEVERABILITY
If any term of this Deed of Trust shall be held void or of no effect, the remaining terms and provisions of this Deed of Trust shall remain in full force and effect.
IN WITNESS WHEREOF, the Trustors and the Trustees have hereunto signed this Deed of Trust Certificate the day and year first above written.
Signed: _________________________________________
Trustor
Signed: _________________________________________
Trustee 1
Signed: _________________________________________
Trustee 2
