Form 8-3

Vendor’s Lien Clauses

If Vendor’s Lien in Favor of Seller Is Retained in Deed

Clause 8-3-1

The debt evidenced by the Note is in [include if applicable: part] pay­ment of the purchase price of the Property; the debt is secured both by this deed of trust and by a vendor’s lien on the Property, which is expressly retained in a deed [to Grantor of even date/of even date given by [name] to [name]]. This deed of trust does not waive the vendor’s lien, and the two liens and the rights created by this deed of trust are cumulative. Lender may elect to foreclose either of the liens without waiving the other or may foreclose both.

If Vendor’s Lien in Favor of Third Party Is Retained in Deed

Clause 8-3-2

The debt evidenced by the Note is in part payment of the purchase price of the Property; the debt is secured by this deed of trust and by a vendor’s lien on the Property, which is expressly retained in a deed [to Grantor of even date/of even date given by [name] to [name]]. The vendor’s lien is transferred to Lender by the deed. This deed of trust does not waive the vendor’s lien, and the two liens and the rights created by this deed of trust are cumulative. Lender may elect to foreclose either of the liens without waiving the other or may fore­close both.

For Use If Lien Is Not Retained in Deed

Clause 8-3-3

Grantor expressly acknowledges a vendor’s lien on the Property as secu­rity for the Note secured by this deed of trust, which represents funds advanced by Lender at Grantor’s request and used in payment of [include if applicable: a portion of] the purchase price of the Property. This deed of trust does not waive the vendor’s lien, and the two liens and the rights created by this deed of trust are cumulative. Lender may elect to enforce either of the liens without waiving the other or may enforce both.