99107367 - Laserfiche WebLink

Browse

. i � ' ; 99 107367 '� ; 36: DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andpe rfofmance 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 bf record. Grantor shall be responsible to pay any costs of recordation and any reconveyance fee charged by Trustee. Upon written request of Lender�tating 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 at�d upon payment by Lender of Trustee's fees, Trustee shall reconvey to Lender,or the person or persons legally entitled thereto,whhout warranty,any•;portion of said premses then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive proof of the truthfulness therepf. 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 Comrnercial 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 agreement between Grantor and Lender. Any materials,eqUipment or supplies used or intended for use in the construction, develoFxnent, or operation of the Property,whether stored on or off the Pro rty,shall alsb be subject to the lien of this Deed of Trust, and Grantor, or xne Grantor's contractor if loan proceeds are paid to such contractor, shall ap y the loan prdceeds to the payment of lawfut claims for labor and material fumished for such construction. I 38. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions in the Property to which Grantor would otherwise be entitled under any applicable law. ; 39. JURY TRIAL WAIVER. GRANTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY,N,URY IN ANY CIVIL ACTION ARISING OUT OF,OR BASED UPON,THIS DEED OF TRUST. ; i 40. ADDITIONAL TERMS: � � i i I � I I I i � Grantor adviowledges that Grantor has read,understands,and agrees to the terms and co�ditions of this Deed of Trust,and acknowledges receipt of an exact copy of same. i Dated this 18 th day of June, 1999 � i i GRAN OR: GRANT(�R: . i GE RGEN K. MILLER I � GRANTOR: ,� GRANTbR: , ; i � MICHAFL CLINGI3RMAN ! i GRANTOR: GRANTdR: � i � GRANTOR: GRANTOR: I i i � � ! i i � � � NEDOTE Rev.1Z97 Page5W6