Capitalized terms used herein shall have the meanings set forth in Schedule 1 of this Deed of Trust or in the specific sections of this Deed of Trust. Geared to residential properties using different types of land contracts, lease options and deeds of trust.A deed of trust with assignment of rents acts as extra security for the lender. (1) To keep said property in good condition and repair; not to remove or demolish any building thereon; to complete or restore promptly and in good and. It protects the lender's interest in the property if the borrower does not fulfill their obligations. Typically, an Assignment of Deed of Trust is recorded in the county recorder's office where the property is located. Send assignment of rents trust deed via email, link, or fax. You can also download it, export it or print it out. 01. The specific warranties are set out in the Selling Guide.