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� � 99 109014 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andperfomrance 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 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 u n aurrender of this Deed of Trust and any note to Trustee for cancellation and reterrtion and upon paymern by Lender of Trustee's fees, Trustee shall reconvey to Lender,or the person or persons legally ernitled thereto,without warranty,any portion of said premises then held hereunder. The recitals in such reconveyance of any matters or facts shall be condusive proof of the truthfulness thereof. The gramee in any reconveyance may be described as"the person or persons legally errtitled thereto". 37. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Commeraal Code,to secure an obligation incurred for the construction of an improvement on land,induding 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 agreemerrt between Grantor and Lender. My materials,equiprnent or supplies used or irrtended for use in the construction, development, 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 Grantor's cornractor rf loan proceeds are paid to such contractor, shall apply the loan proceeds to the payment of lawful daims for labor and material fumished for such construction. 38. WAIVER OF HOMESTEAD AND OTHER EXEMP110NS. Grantor hereby waives all homestead and other exemptions in the Property to which Grantor would othervvise be errtitled under any applicable law. 39. JURY TRIAL WAIVER. GRANTOR HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY CIVIL ACT10N ARISING OUT OF,OR BASED UPON,THIS DEED OF TRUST. 40. ADDITIONAL TERMS: Grantor acknowledges that Grarrtor has read,understands,and agrees to the terms and conditions of this Deed of Trust,and acknowledges receipt of an exact copy of same. Dated this 2 6 th day of July, 19 9 9 GRANTOR: GRANTOR: GARY P. H S GRANTO . GRANTOR: JO R. HO05 GRANTOR: GRANTOR: GRANTOR: GRANTOR: NEDOTE Rev.12197 Pape 5 d 6 t