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' 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andperformance in full of all of the Obligations,Lender will execute and 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 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 retention and upon payment by Lender of Trustee's fees, Trustee shall reconvey to Lender,or the person or persons legally enthled thereto,without warranty,any portion of said prerrnses then held hereunder. The recitals in such reconveyance of any matters or facts shali be conclusive proof of the iruthfulness 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 Corrunercial Code,to secure an obligation incurred for 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 the terms of a construction loan agrcement between Grantor and Lender. �4ny materials,equipment or supplies used or intended for use in the construction, development, or operation of the Property,whether stored on or off the Pro rty,shall also be suhject to the lien of this Deed of Trust, and Grantor, Grantor's contractor if loan proceeds are paid to such contractor, shall app�y the �oan proceeds to the payment of lawful claims for labor and materi� fumished for such construction. 1� 38. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives aii homestead and other exemptions in the Property to which � Grantor would otherwise be entitled under any applicable law. w 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 acknowledges 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 15th dayofFebruary, 1999 GRANTOR: GRANTOR: ��db� BR.ADLEY D LAIIB , GRANTOR: GRANTOR: � a� t�c_� BARBP,R.A J LAUB GRANTOR: GRANTOR: GRANTOR: GRANTOR: ------ — --__ oe..ec.ac s