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. � 99 �08212 98. DEFEASANCE AND RECONVEYANCE BY T�iUSTEE. Jpon the paymem andpe�om�ance in full of all of the Obtlgations,Lender will execute and deliver to Grantor those documerrts thai may be required to release this Deed of 7rust of record. Grantor shall be responsible to pay any costs of recordation and any recorneyance 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 reterrtion and upon paymeM by Lender of Trustee's fees, Trustee shall recorney to Lender,or the person or persons legelly errtitled thereto,without warranty,any portion of said premises then held hereunder. The recitals in such recorneyance of any matters or facts shall be condusive proof of the tn�thfulness thereof. The grarrtee fn any recomeyance may be described as"the person or persons legally entiHed thereto". S7. CONSTRUC710N LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Comrnercial Code,to secure an obligation incurred for the oonstructlon of an improvemerrt on land,indudi the acquisftion costs of land. This Deed of Trust seaares a construction loan,and it will be subject to the terms of a construction loan agreemem between�rarrtor and Lender. My materials,equipmerrt or supplies used or irrtended for use in the construction, developmerrt,or operation 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 GraMor's contractor if loan prooeeds are paid to such cor�tractor, shall appy the loan proceeds to the fumished for such construation. PaYmeM of lawtul daims for labor and material 38. WAIVER OF HOMESTEAD AND O?HER EXEMP710N3. Grantor hereby waives all homestead and other exemptions in the Properry to which Grantor would othervvise be errtitled under any applicable Iaw. S9. 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. ADDI710NAL TERMS: Grantor admowledges that Grantor has read,understands,and agrees to ihe terms and conditions of this Deed of Trust,and aclviowledges recefpt of an exact copy of same. Dated this 13 th day of July, 19 9 9 GRANTOR: GRANTOR: �� m�xr•r• F PBRRELBT GRANTOR: GRANTOR: S Ln�np, s PERREL$T GRANTOR: GRANTOR: GR/W7nR: GNANTOR: NEDOTE Rsv.t287 s---��„