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. <br /> � . � <br /> 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the paymeni and performance in full of all of the Obligations,Lender will execute and <br /> deliver to Granior 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 and any reconveyance fee charged by Trustee. Upon written request of Lender stating that all sums secured hereby have been paid and upon <br /> surrender of this Deed of Trust and any note to Trustee for cancellation and reteniion and upon payment by Lender of Trustee's fees, Trusiee shall <br /> reconvey to Lender,or the person or persons legally entitled thereto,without warranty, any portion of said premises then held hereunder. The recitals in <br /> 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 <br /> person or persons legally entitled thereto". <br /> 37. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Commercial Code,to secure an obiigation 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 intended for use in the construction, <br /> Grantop's�cont�actorif loan�proceedsa eypaid to such rcontractor, shall apply ihe loanl pro ds to�thetpayment off lawful�cla ms for labor a dramater al <br /> furnished for such construciion. <br /> 38. 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 /> UPONTHIS DEED OF TRU T ANTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY CIVIL ACTION ARISING OUT OF,OR BASED <br /> , (,� <br /> 40. ADDITIONAL TERMS: � <br /> � <br /> � <br /> W <br /> Grantor acknowledges that Grantor has read,understands,and agrees to the terms and conditions of this Deed of Trust,and acknowledges receipt of an <br /> exact copy of same. <br /> Daied this 5 th day of February, 19 9 9 <br /> GRANTOR: GRANTOR: <br /> . <br /> MICHAEL T MUIRHEAD <br /> G TOR: � • GRANTOR: <br /> �� U v�^'V� - <br /> SIINNI D. MUIRHEAD <br /> GRANTOR: GRANTOR: <br /> GRANTOR: GRANTOR: <br /> i NEDOTE Rev.1257 Page 5 of 6 <br />