Warranty Deed with Vendor's Lien

WARRANTY DEED WITH VENDOR’S LIEN
(Vendor’s Lien Reserved and Assigned to Third Party Lender)

STATE OF _______________
COUNTY OF _____________

KNOW ALL MEN BY THESE PRESENTS:

THAT THE UNDERSIGNED, ______________________________________________________ _____________________________________________________ [full legal name(s) of seller(s)], hereinafter called “Grantor(s)”, whether one or more, for and in consideration of the sum of TEN DOLLARS ($10.00) and other valuable consideration to the undersigned in hand paid by the Grantee herein named, the receipt of which is hereby acknowledged, and the further consideration of the execution and delivery by the Grantee of that one certain promissory note described on Exhibit A attached hereto, the payment of which note is secured by the vendor’s lien herein retained, and is additionally secured by a deed of trust of even date therewith and also described on Exhibit A attached hereto, has GRANTED, SOLD AND CONVEYED, and by these presents does GRANT, SELL AND CONVEY unto _____________________________________ ___________________________________________________ [full legal name(s) of grantee(s)], hereinafter referred to as the “Grantee” whether one or more, all of Grantor’(s) right, title and interest in and to the real property described as follows:
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
_____________________________________________________________________________
[insert full legal property description]

This conveyance, however, is made and accepted subject to any and all restrictions, easements, covenants and conditions, if any, relating to the hereinabove described property as the same are filed for record in the real property records of _________________________ County, _________________________ [state].

TO HAVE AND TO HOLD the above described premises, together with all and singular the rights and appurtenances thereto in anywise belonging, unto the said Grantee, Grantee’s heirs, executors, administrators, successors and/or assigns forever; and Grantor(s) do hereby bind Grantor(s)’ heirs, executors, administrators, successors and/or assigns to WARRANT AND FOREVER DEFEND all and singular the said premises unto the said Grantee, Grantee’s heirs, executors, administrators, successors and/or assigns, against every person whomsoever claiming or to claim the same or any part thereof.

But it is expressly agreed: (1) that the Vendor’s Lien, as well as Superior Title in and to the above described premises, is retained against the above described property, premises and improvements until the above described not and all interest thereon are fully paid according to the face, tenor, effect and reading thereof, when this Deed shall become absolute; and (2) that the Lender set forth on Exhibit A, attached hereto, at the instance and request of the Grantee herein, having advanced and paid in cash to the Grantor(s) herein that portion of the purchase price of the herein described property as is evidenced by the hereinabove described Note, the Vendor’s Lien, together with the Superior Title to said property, is retained herein for the benefit of said Lender and the same are hereby TRANSFERRED AND ASSIGNED to said Lender, its successors and assigns.

Current ad valorem taxes on the property having been prorated, the payment thereof is assumed by Grantee.

EXECUTED this ________ day of ____________________, 20_____ but to be effective upon the date this instrument is filed for record in the real property records of _________________________ County, _________________________ [state].

GRANTOR(S):


______________________________ ____________________________
[name of seller] [name of seller]


STATE OF _______________
COUNTY OF _____________

Before me, the undersigned Notary Public, on this day personally appeared _________________ __________________________________________________________________________ known to me (or proved to me on the oath of _____________________________________________, or through Drivers License or _____________________________________________) to be the persons whose names are subscribed to the foregoing instrument and acknowledged to me that they executed in the capacity set forth and for the purpose and consideration therein expressed.

Given under my hand and seal of office this ________ day of ____________________, 20_____.

[Notarial seal, if any]



_______________________________
NOTARY PUBLIC, STATE OF ____________


After recording, return to Grantee, at:

Grantee’s address:

_______________________________
_______________________________
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