The trustee in this case is the agent for debtor and creditor, and
he must act impartially.

The trust deed specifies the character of the debt to be secured.
In case of failure to pay the debt as agreed on, the trustee may,
if so warranted, sell the property, and pay the obligation from
the proceeds.

The grantor in a trust deed, if not stipulated to the contrary, is
entitled to all the rents and profits of the property; for it
remains virtually his, until he has failed to fill his contract.

When the indebtedness secured by the trust deed has been paid, the
trustee must at once execute a paper known to law as a Release
Deed. When recorded this instrument discharges the lien.

AS TO MORTGAGES

Mortgages are of two kinds, real and chattel. The first is a lien
on real estate, the second on personal property.

A mortgage may be defined as a conveyance of property, personal or
real, as security for the payment of a debt, or it may be given as
a guarantee for the performance of some particular duty.

MORTGAGE FORMS

When a mortgage is given as security for the payment of a debt,
the rule is to give a note for the payment of the amount involved.
The mortgage becomes in this case the security for the note's