Fill and Sign the Deed Lieu Form 497331695

Conveyance of Deed to Lender in Lieu of Foreclosure Agreement made on the __________________ (date) , between _______________________ (Name of Grantor) of ____________________________ ______________________________________________ (street address, city, state, zip code) , referred to herein as Grantor , and ___________________ (Name of Lender) , a corporation organized and existing under the laws of the state of ______________, with its principal office located at ____________________________ ______________________________________________ (street address, city, state, zip code) , referred to herein as Lender . Whereas, Grantor is the owner of real property located at __________________ _________________________________________________________ (street address, city, state, zip code) , which is more fully described in Exhibit A attached hereto and made a part hereof; and Whereas, on _________________ ( date) , Grantor executed and delivered to Lender a promissory note for $____________ as security for the real estate described above. A deed of trust was executed on _________________ (date) , conveying the property to _____________________________________________________________ _________________ (Name and address of Trustee) , for the benefit if the Lender. The deed of trust, number ________, was recorded on ___________________ (date) , in the Land Records of the (e.g., the Office of the County Recorder ) _____________ ____________________________________________ of _______________________ (Name of County and State) in Book ________ , Page _________; and Whereas, Grantor defaulted on his mortgage payments required by the promissory note and deed of trust on _________________ (date) , and Grantor desires to convey to Lender the property described above as consideration for Lender's release of Grantor from the covenants to pay principal and interest under the promissory note and deed of trust, and from all security agreements, financing statements, and claims and demands with respect to the property; and Whereas, Lender desires to accept the conveyance of the property, and will release Grantor from the covenants for payment of principal and interest under the promissory notes, deed of trust, and from all claims and demands respecting the property. Now, therefore, for and in consideration of the mutual covenants contained in this agreement, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Right of Redemption Grantor acknowledges that he enters into this agreement of his own free will. Grantor also acknowledges that the release from his obligation under the promissory note and deed of trust constitutes valid consideration for conveyance of the deed. Grantor further acknowledges that on conveyance of the Deed to the property he will have no right of redemption of the property, and will be estopped from asserting any claim to redemption against the property. 2. Impact of Bankruptcy A. Grantor represents that he is not subject to any bankruptcy proceeding, assignment for benefit of creditors, or similar proceedings, and has not committed any act of bankruptcy. On conveyance of the property, Grantor further represents that he will not become bankrupt or insolvent, and that conveyance of the property will not constitute a preferential transfer under bankruptcy law. B. The parties agree that if a bankruptcy proceeding is brought by or against Grantor, or Grantor is adjudged a bankrupt within _____ months of the date on which the (e.g., quitclaim) ______________ Deed is delivered, Lender may at its sole option reconvey the property to Grantor or the bankruptcy trustee, and may proceed with foreclosure or any other remedy available to it under the promissory note and deed of trust. Lender shall cancel and deliver the promissory note and deed of trust only if no such bankruptcy proceedings are brought by or against Grantor, and no other proceedings affecting title are brought or threatened within the ______ (number) -month period. 3. Quitclaim Deed Within ______ days from the execution of this agreement, Grantor will execute and deliver to Lender a quitclaim deed conveying the property described above to Lender. 4. Agreed Property Value The property to be conveyed to Lender by Grantor has an agreed value of $____________. 5. Waiver of Statutory Rights Grantor waives any right he may have had to lease or buy back property pursuant to ________________________ (citation of statute) , or to redeem such property as homestead real estate pursuant to __________________________ (citation of statute) . WITNESS our signatures as of the day and date first above stated. ____________________________ (Name of Lender) ________________________ By:________________________________ (P rinted Name) ___________________________ ________________________ (P rinted Name & Office in Corporation) (Signature of Grantor) ___________________________ (Signature of Officer) Attach Exhibit A (Acknowledgements may vary by state). STATE OF _____________ COUNTY OF ____________ Personally appeared before me, the undersigned authority in and for the said county and state, on this ______ day of _____________, 20____, within my jurisdiction, the within named _________________ (Name of Officer) , who acknowledged that he is ___________________________ (Name of Office) of _____________________ (Name of Corporation) , a __________________ (name of state) corporation, and that for and on behalf of the said corporation, and as its act and deed he executed the above and foregoing instrument, after first having been duly authorized by said corporation so to do. ________________________________ NOTARY PUBLIC My Commission Expires: ____________________ State of _____________________ County of ___________________ Personally appeared before me, the undersigned authority in and for the said County and State, on this ___________________ (date) , within my jurisdic tion, the within-named ___________________ (Name of Grantor) , who acknowledged that he executed the above and foregoing instrument. ________________________________ NOTARY PUBLIC My Commission Expires: ____________________