DEED OF TRUST a three-party financial contract N ote Borrower L ender (Trustor) Funds ( Beneficiary) Title if default g oes pledge property to borrow of title is sold if no and default proceeds Trustee goes to lender9 Note Funds pledge of title Title goes to borrow if no default if default property is sold and proceeds goes to lender DEED OF TRUST Borrower (Trustor) Lender (Beneficiary) Trustee A three-party financial contract