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r � � r 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andperformance in fuil 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. Grarnor 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 recorney to Lender,or the person or persons legally entitled thereto,without warranty,any porlion of said premses then held hereunder. The recitals in such reconveyance of any matters or facts shall be condusive 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 construction mortgage under the Uniform Corrxriercial Code,to secure an obligation incurred for � the construction of an imFxovement on land,including the acquisition costs of land. This Deed of Trust secures a construclion loan,and it will be subject to � the terms of a construction loan agreemern between Gramor and Lender. Any materials,equipment or suppiies used or intended for use in the construction, development, or operatio� of the Property,whether stored on or off the Property, shall also be subject to the lien of this Deed of Trust, and Grantor,or K Grantor's contraclor if loan proceeds are paid to such contractor, shall apply ihe loan proceeds to the payment of lawful claims for labor and material fumished for such construction. � O� 38. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions in the Property to which 0 Grantor would otherwise be ernitled 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 ihis Deed of Trust,and acknowledges receipt of an exact copy of same. Dated this 3 0 th day of June, 19 9 9 GR R: GRANTOR: � W. FITCHHO GRANTOR: GRANTOR: 1�� j L S. FITC ORN GRANTOR: GRANTOR: GRANTOR: GRANTOR: NEDOTE Rev.1297 Pepe 5 d 8