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98103873
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98103873
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Last modified
3/12/2012 11:57:46 AM
Creation date
10/19/2005 5:44:08 PM
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DEEDS
Inst Number
98103873
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' � ' : �g" its38'7.� <br /> 38. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment and pertormance in full of all of the Obligations:Lender will execute and <br /> deliver to Grantor those documents that may be required to release this Deed of Trust of record. Grantor shall be responsible to pay any costs of <br /> recordation. Upon written request of Lender stating that all sums secured hereby have been paid and upon surrender of this Deed of Trust and any note to <br /> Trustee for cancellation and retention and upon payment by Lender of Trustee's fees,Trustee shail reconvey to Lender,or the person or persons legaIly <br /> entitled thereto,without warranty,any portion of said prerrnses then held hereunder. The recitals in such reconveyance of any matters or facts shall be <br /> conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as"the person or persons legally entitled thereto°. <br /> 39. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Cormiercial Code,to secure an obligation incurred for <br /> the construction of an improvement on land,including the acquisition costs of land. This Deed of Trust secures a construction loan,and it will be subjeet to <br /> the tertns of a construction loan agreement between Grantor and Lender. My materials,equipment or supplies used or irttended for use in the construction, <br /> development,or operation of the Property,whether stored on or off the Prop rty, shall also be subject to the lien of this Deed of Trust, and Grantor, or <br /> Grantor's contractor if loan proceeds are paid to such coMractor, shaii apply the loan proceeds to the payment of lawful claims for labor and material <br /> fumished for such construction. <br /> 40. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exerr�tions in the Property to which <br /> Grantor would otherwise be entitled under any applicable law. <br /> 41. JURY TRIAL WAIVER. GRANTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY CIVIL ACTION ARISING OUT OF,OR BASED <br /> UPON,THIS DEED OF TRUST. <br /> 42 ADDITIONAL TERMS: <br /> Grantor acknowledges that Grantor has read,understands,and agrees to ihe terms and conditions of this Deed of Trust,and acknowledges receipt of an <br /> exact copy of same. <br /> Datedthis 23rd dayof April, 1998 <br /> GRANTOR: GRANTOR: <br /> 1 <br /> WILLIAM R. CAREY <br /> GRANTOR: GRANTOR: <br /> S RLEY A AREY <br /> GRANTOR: GRANTOR: <br /> GRANTOR: GRANTOR: <br /> I <br /> u�nntc o..,n�o� Pana 6 M R <br />
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