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- 99- i�8s3� 38. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Up�n the payrr�ent and performence in full of all of the Obligations,Lender will execute and deliver to GreMor those documents that mey be required to release this Deed of 7rust of record. Grentor shall be responsible to pay any costs of recorclation and any recorneyance fee charged by Trustee. Upon written request of Lender stating that all sums sea�red hereby have been peid 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 reoorney to Lender,or the person or persons legally errtitled thereto,without warranty,any portfon of said premises then held hereunder. The recitals in such reconveyance of any matters or facts shall be condusive proof of the tnnhfulness thereof. The grantee in any reconveyance may be described as"the person or persons legelly errtitled thereto". S7. CON8TRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Commerdal Code,to secure an obligation incurred for the construction of an improvemerrt on land,induc#ng the acquisition costs of land. This Deed of Trust secxires a construction loan,and it will be subject to the terms of a construction loan agreemerrt between Grantor and Lender. My materials,equipmerrt or supplfes used or irrtended for use in the construction, developmerrt, or operatbn of the Property,whether stored on or off the Pro shall also be subject to the lien of this Deed of Trust, and Grantw, or GtaMor's corrtrador if ben proceeds are paid to such corrtractor, shail app�y tryhe loan proceeds to the paymerd of lawful daims for labor and materlal fumished for such oonstnictlon. 98. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Gramor hereby waives all homestead and other exempUons in the Property to which Grerrtor would otherwise be emttled under any appllcable 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 DEEO OF TRUST. 40. ADDITIONAL TERMS: Grarrtor admowledges that Grarnor has read,understands,end agrees to the tem�s and conditions of thls Deed of Trust,and admowledges receipt of an exact oopy of sarre. Dated thls 19 th day of July, 1999 GRANTOR: GRANTOR: � BIIG L. PE3EK GRANTOR: GRANTOR: � � $ccY L. P sEx GRANTOR: GRANTOR: GRANTOR: GRANTOR: i NEDOTE qw.i2l87 Papa b d 6 �