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. � � ° 99 107�� •38. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the paymerrt and perfom�ence in full of all of the Obligations,Lender will exea�te and delivet to Grarnor those documerrts that may be required to release this Deed of 7rust of record. Grarrtor shall be responsible to pay any costs of reoordation and any reoonwyance fee charged by Trustee. Upon written request of Lender stating that all sums secured hereby have been paid and upon wrrender of this Deed of Tn�st and any note to Trustee for cancellation and retention and upon paymerrt by Lender of Trustee's fees, Trustee shall recomey to Lender,or the peraon or persons legally eMitled thereto,without warranty,any portion of seidpremises then held hereunder. The reatals in such reoorneyance of any matters or facts shall be condusive proof of the tnrthfulness thereof. The grantee in any recorneyanoe may be described as"the peraon or peraons legally errtkled thereto". 37. CONSTRUCTiON LOAN. ❑ This Deed of Trust is a construcUon mortgage under the Uniform Comnerdal Code,to secure an obligation incurred for the constnxx:tion of an(mprovement on land,induding the acquisition ooata of land. Thls Deed of Trust se�x�res a construction loan,and it will be sub�ect to I the tem�s of a oonstructton loan apreement between GraMor and Lender. My materials,equipmerrt or wpplies used or irrtended for use in the construction, developmern,or operaUon of the Properry,whether stored on or off the Property,shali also be subject to the lien of this Deed of Trust,and Grantor,or Grantors corrtractor if loan proceeds are pa�d to such contractor, shall apply the loan prooeeds to the paymerrt of law(ul daims for labor and mater(al fumished for such constn�ction. SB. WAIVER OF HOMESTEAD AND 07HER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions in the Property to which Grantor would otherwise be errtftled under any applfcc�Yble Iaw. �. 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: GraMor advwwlecJges that Grantor has read,understands,and agrees to the terms and conditions of thfs Deed of Trust,and ac�mowledges receipt of an � exact copy of same. Dated this 3 0 th day of Juae, 19 9 9 GRANTOR: GRANTOR: RBLLY . HAD$ GRANTOR: GRANT'OR: J Lffi� B. 3CHADB GRANTOR: GRANTDR: GRANTt�R: GRANTOR: NEDCTE RN.11A7 P�6de