200000610 - Laserfiche WebLink

Browse

. 200000sio 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andperfomiance in full of all of the Obligations,Lender will execute and zieliver to Grantor those documents that may be required to release this Deed of Trust of record. Grarnor shall be responsible to pay any costs of recordation and any reconveyance fee charged by Trustee. 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 Trustee for cancellation and reterrtion and uPon paymern by Lender of Trustee's fees, Trustee shall reconvey to Lender,or the person or persons legally ernitled thereto,without warranty,any portion of said premses then held hereunder. The recitals in such reconveyance of any matters or facts shall be condusive proof of the truthfulness thereof. The grarrtee m any reconveyance may be described as"the person or persons legally entftled therelo". 37. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the UnifoRn Cormiercial Code,to secure an obligation incuRed for the construction of an improvemern on land,including the�cquisition costs of land. This Deed of Trust secures a construction loan,and it will be subject to the terms of a construction loan agreement between Grantor and Lender. My materials,equipmerrt 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 cornractor rf loan proceeds are paid to such corrtractor, shall app�y the loan proceeds to the paymern of lawful daims for labor and material fumished for such construction. 38. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grarnor hereby waives all homestead and other exemptions in the Property to which Grantor would otherwise be eMitled under any applicable law. 38. JURY TRIAL WAIVER. GRANTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY CIVIL AC710N ARISING OUT OF,OR BASED UPON,THIS DEED OF TRUST. 40. ADDITIONAL TERMS: Grantor acknowledges that Grantor has read,understands,and agrees to the terms and conditions of this Deed of Tn�st,and acknowledges receipt of an exact copy of same. Dated lhis 6 th day of Auqus t, 19 9 9 GR R: GRANTOR: PHILLIP K. HESTERMAN GRANTOR: GRANTOR: ___V��X �• h�./�/l�i1,mQ/ln- REBECCA L. HESTERMAN GRANTOR: GRANTOR: GRANTOR: GRANTOR: I I NEDOTE Rev.12197 Pape 5 d 6