Deed Of Trust Modification With Future Advance Clause In Clark

• Category: Real Estate - Mortgages and Deeds of Trust
• State: Multi-State
• County: Clark
• Control #: US-00183
• Format: Word; Rich Text

Description

The Deed of Trust Modification with Future Advance Clause in Clark is a legal instrument designed to modify an existing deed of trust, enabling future advances by a lender while extending the lien on the secured property. Key features of the form include the renewal and extension of the lien formalizing the ongoing security for the debt, along with specific terms for the note payment structure, including interest rates and monthly payment schedules. It is critical for the borrower to insert specific dates, amounts, and property descriptions accurately. The form ensures that the lender retains the right to enforce the security interest through stipulated defaults and late payments. This modification is particularly beneficial for attorneys, partners, and associates focusing on real estate financing, providing a clear template for securing additional funds against existing debts. Legal assistants and paralegals can use this form to assist clients in understanding their obligations and rights under the modified agreement. The clarity of terms outlined in the modification aids users with varying levels of legal experience in successfully navigating the intricacies of real estate law.