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98103937
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Last modified
3/12/2012 11:59:15 AM
Creation date
10/19/2005 5:45:07 PM
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DEEDS
Inst Number
98103937
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, . • �; <br /> 38. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andperformance 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 shall reconvey to Lender,or the person or persons legally � <br /> con�olus veeproof ofthhettruthfuln�ess thero f��The g anteeen any reconveyanceemay be described al s�'theuperso orvpe sons legally en tled theret ts shall be <br /> � <br /> 39. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Commercial 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 subject to <br /> the terms of a construction loan agreement between Grantor and Lender. Any materials,equipment or supplies used or iniended for use in the construction, <br /> GrantoP's�contract o if loan pro eedsa eypa deto such rcontractor, shall apply the loanl pr ceeds to�thel payment off lahwful�cla ms forr labor andramater al w <br /> furnished for such construction. � <br /> 40. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions 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 /> Granlor acknowledges that Grantor has read,understands,and agrees to the terms and conditions of lhis Deed of Trust,and acknowledges receipt of an <br /> exact copy of same. <br /> Datedthis 28th dayof April, 1998 <br /> GRANTOR: GRANTOR: <br /> R ►�o�RRU �� � <br /> ALFONSO ARVIZO <br /> GRANTOR: GRANTOR: <br /> � / � J <br /> � <br /> VIRGIN A M. IZO <br /> GRANTOR: GRANTOR: <br /> GRANTOR: GRANTOR: <br /> NEDOTE Rev.2f97 Pape 5 of 6 <br />
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