This form is a deed of trust modification. It is to be entered into by a borrower, co-grantor, and the lender. The agreement modifies the mortgage or deed of trust to secure a debt described within the agreement. Other provisions include: renewal and extension of the lien, co-grantor liability, and note payment terms.
A Montana Change or Modification Agreement of Deed of Trust is a legal document used to make amendments or modifications to an existing deed of trust in the state of Montana. This agreement allows the parties involved in the original deed of trust to make changes to certain terms and conditions as agreed upon. The purpose of such a document is to address any necessary changes that may arise during the life of the deed of trust, ensuring that the rights and responsibilities of all parties involved are properly adjusted in accordance with their agreements. Keywords: Montana, Change or Modification Agreement, Deed of Trust, legal document, amendments, modifications, terms and conditions, rights, responsibilities. Different types of Montana Change or Modification Agreement of Deed of Trust may include: 1. Interest Rate Modification Agreement: This type of modification agreement focuses on altering the interest rate mentioned in the original deed of trust. It can be used to increase or decrease the interest rate, as agreed upon by the parties involved. 2. Loan Term Extension Agreement: In cases where the original deed of trust had a specific loan term, this agreement can be used to extend the duration of the loan. Parties can agree on a new end date for the loan repayment. 3. Change in Payment Schedule Agreement: If the original payment schedule mentioned in the deed of trust needs to be altered, this agreement allows the parties to modify the frequency or amount of payments. 4. Collateral Substitution Agreement: In situations where the lender and borrower decide to change the collateral securing the loan, this agreement is used to substitute the original collateral with a new asset or property. 5. Release of Property Agreement: When a portion of the property mentioned in the original deed of trust needs to be released from the lien, this agreement allows the parties to modify the terms to reflect the release accurately. 6. Modification of Default Terms Agreement: If the borrower defaults on the terms mentioned in the original deed of trust, this agreement can be used to modify the consequences or penalties associated with the default. It is important to note that these are just a few examples of the different types of Montana Change or Modification Agreement of Deed of Trust. The specific type of agreement required may depend on the unique circumstances of the situation and the intentions of the parties involved.
