Land

Buyer

Seller

$$ Bank

Lender

Promissory Note (I.O.U)

BorrowerOwner

Trust DeedLand

Trustee

Trustor

Grantor

Beneficiary

Title is conveyed to the trustee subject to the terms of the Deed

of Trust

-If Borrower pays, reconvey title to Borrower

Reconvey

-If Borrower defaults, give notice of the default,

then advertise & sell the property at auction

Buyer

Record and serve Notice of Default

35 days to cure by paying back

payments, foreclosure fees and

costs. NRS

107.080

35days

Notice of Sale cannot be published until three

months (not 90 days) from recording of the Notice of Default. NRS

107.080(4)

55days

Noticeof Sale

Advertise the Notice

of Sale once a

week for 3 successive weeks.

NRS 21.130(3)

& 107.080(4)

3 weeks

Trustees Sale

Suit to establish the deficiency must be filed

within 6 months of the Trustee's

Sale. NRS 40.455

6 months

Last day to file suit for

deficiency

DEFICIENCY JUDGMENT CALCULATION: Calculate the lesser of A or B below. NRS 40.459.

A.

Amount owed $100K

-Fair Market Value -$75K

$25K

B. Amount owed $100K - Amount Sold -$100K

$0