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- . . � 9�• i�s8o3 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment and performance in full of all of ihe 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 reconv2yance fee charged by Trustee. Upon written request of Lender stating thai 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 Lende�,or the person or persons legally entiiled thereto,without warranty,any portion of said premises then held hereunder. The recilals 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 consiruction mortgage under the Uniform Commercial 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 lerms of a construction loan agreement beiween Grantor and Lender. Any materials,equipment or supplies used or intended for use in the construction, development, or operation of the Property,whether stored on or off the Property, shall also be subje3ct to the lien of this Deed of Trust, and Grantor, or Grantor's contractor if loan proceeds are paid to such contractor, shall apply the loan proceeds to the payment of lawful claims for labor and material furnished for such construction. 38. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions in the Property to which Grantor would othervvise be entitled 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 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. Dated this 29 th day of April, 1999 GRANTOR: GRANTOR: � aC 1--�- LAWRENCE L. HOLMES GRANTOR: GRANTOR: �-,d a �o�►�,o SANDRA HOLMES GRANTOR: GRANTOR: GRANTOR: GRANTOR: NEDOTE Rev.12P97 Page 5 of 6