Uhc Form 040a - Utah Housing Corporation Subordinate Deed Of Trust (Mers)

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UHC Form 040A
Rev 07/15
WHEN RECORDED MAIL TO:
UTAH HOUSING CORPORATION
SUBORDINATE DEED OF TRUST (MERS)
MIN:
THIS DEED OF TRUST is made on _______________________, _____________ between
______________________________________________________________________________(“Borrower"),
________________________________________________________________________________("Trustee"),
Mortgage Electronic Registration Systems, Inc. (“MERS”), (solely as nominee for Lender, as hereinafter
defined, and Lender’s successors or assigns). MERS is organized and existing under the laws of Delaware,
and has an address and telephone number of P. O. Box 2026, Flint, MI 48501-2026, tel. (888) 679-MERS,
(“Beneficiary”), and ___________________________________________________________("Lender").
Borrower owes the Lender the sum of __________________________________________________________________
and ______________________ /00 dollars ($________________________) evidenced by a Subordinate Note ("Note")
dated the same date as this Subordinate Deed of Trust. This Subordinate Deed of Trust secures (a) the repayment of the
debt evidenced by the Note, with interest, and (b) the repayment of all sums advanced by the Lender to enforce the Note.
Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following described real property
located in ________________________________County, Utah (“Property”)
which has an address of
,Utah
("Property Address").
City
Zip Code
TOGETHER WITH all improvements hereafter erected on the Property, and all easements, rights of way, appurtenances,
rents, royalties, mineral, oil, and gas rights and profits, income, water appropriations, rights and stock and all fixtures
now or hereafter a part of the Property. All replacements and additions shall also be covered by this Subordinate Deed of
Trust. Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this
Deed of Trust; but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender’s successors
and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and
sell the Property; and to take any action required of Lender including, but not limited to, releasing or canceling this Deed
of Trust.
This Subordinate Deed of Trust is subordinate in all respects to a Deed of Trust (the "Senior Deed of Trust") which is
amended by a Rider to Deed of Trust (the "Rider to Deed of Trust") encumbering the Property and which secures that
certain note (the "Senior Note") dated the same date as this Subordinate Deed of Trust.
Lender may require immediate payment in full of all sums secured by this Subordinate Deed of' Trust if:
1.
Lender requires immediate payment in full of the Senior Note because Borrower is in default
under the Senior Note, the Senior Deed of Trust, or the Rider to Deed of Trust;
2.
Lender requires payment in full of the Senior Note because all or part of the Property is
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