Question
Written Assignment: Harry and Margaret Smith, a California husband and wife, are buying a house from Jack and Phyllis Jones, also a married couple. The
Written Assignment: Harry and Margaret Smith, a California husband and wife, are buying a house from Jack and Phyllis Jones, also a married couple. The Smiths have obtained financing from Number One Bancorp in the form of a loan for $400,000. They are, additionally, paying the Joneses $100,000 in a down payment, which payment they are making in cash. The promissory note to the bank for the $400,000 is to be secured by a deed of trust. Draft the deed of trust. In places in each where you believe information is missing, insert a clause in brackets describing the missing information (e.g., "Property Description"), or invent information. Further discussion will be had on sources and methods of accessing forms useable in California for real estate-related deeds of trust. Note re collaboration: students working together is encouraged. It is also recognized that the assignments will have overall similarity, since the assignment is the same for everyone. That being said, the work must be your own. Submissions which are identical to another will receive no credit and may subject the students involved to academic discipline
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