200000206 - Laserfiche WebLink

Browse

2�1��i, 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andperfomr�nce in full of all of the Obligations,Lender will execute and delive� to Grarrtor those documents that may be required to release this Deed of Trust of record. Grarnor shall be responsible lo pay any costs of recordation and any recorneyance fee charged by Trustee. Upon written request of Lender stating that all sums secured hereby have been paid and upon suRender of this Deed of Trust and any note to Trustee for cancellation and reteMion and upon payment by Lender of Trustee's fees, Trustee shall reconvey to Lender,or the person or persons legally entitled thereto,wfthout warranry,any portion of sald premises then held hereunder. The reatals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as"the person or persons legally entitled thereto". 37. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Cortmeraal Code,to secure an obligation incurred for the consiruction of an improvement on land,induding the acquisition costs of land. This Deed of Trust secures a construction loan,and it will be subject to the tertns of a construction loan agreemerrt between GraMor and Lender. My materials,equipment or supplies used or irrtended for use in the construction, development, or operation of the Property,whether stored on or off the Pro rty,shall also be subject to the lien of this Deed of Trust, and Grarrtor,or Grantor's corrtractor if loan proceeds are paid to such corrtractor, shall appPy the loan proceeds to the paymerrt of lawful daims for labor and material fumished for such construction. 98. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grarrtor hereby waives all homestead and other exemptions in the Property to which Grantor would otherwise be eMiiled under any applicable law. 39. JURY TRIAL WAIVER. GRANTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY CIVIL ACTION ARISING OUT OF,OR BASED UPON,THIS DEED OF TRUST. 40. ADDITIONAL TERMS: Grantor adviowledges that Grantor has read,understands,and agrees to the terms and conditions of this Deed of Trust,and acknowledges receipt of an exact copy of same. Datedthis 9th dayofDecember, 1999 GRANTO : � GRANTOR: , _.._"—�. ROGER RNTO GRANTOR: GRANTOR: � �� HEATHFR THORNTON GRANTOR: GRANTOR: GRANTOR: GRANTOR: 'I NEDOTE Rev.12/97 Pape 6 d B