Laserfiche WebLink
36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andpe rformance in full of all of the Obligations,Lender will execute and <br /> deliver to Grantor those documents ihat 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 Tn�stee. Upon written request of Lender stating that all sums secured hereby have been paid and upon <br /> suRender 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 <br /> reconvey to Lender,or ihe person or persons legally entitled thereto,Without warranty,any portion of sa�d 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 1he Uniform Corrxnercial Code,to secure an obligation incurred for <br /> the constructi0n 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 /> development, or operation of the Property,whether stored on or off the Property, shall also be sutject to the lien of this Deed of Trusl, and Grantor, or <br /> Grantor's contractor if loan proceeds are paid to such contracior, shall apply the loan proceeds to the payment of lawful claims for labor and material <br /> fumished for such construction. <br /> � <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 /> 39. 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 /> W <br /> 40. ADDITIONAL TERMS: CC <br /> � <br /> � <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 /> Datedthis lst dayofFebruary, 1999 <br /> G AN}fOR: GRANTOR: <br /> ���� <br /> � <br /> . MOLINA <br /> GRANTOR: GRANTOR: <br /> ����� <br /> M G L . MOLINA <br /> GRANTOR: GRANTOR: <br /> GRANTOR: GRANTOR: <br /> NEDOTE Rev.12/97 P�e 5 W 6 <br />