99109199 - Laserfiche WebLink

Browse

. 99 �109199 '36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the paymerrt 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 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 reconvey to Lender,or the person or persons legally errtitled thereto,without warrarrty,any portion of said premses then held hereunder. The recitais in such reconveyance of any matters or facts shall be conclusive proof of the tntthfulness thereof. The grantee m 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 Commeraal Code,to secure an obligation incurred for the construction of an improvement on land,indudin�the acquiskion costs of land. This Deed of Trust secures a construction loan,and it will be subject to the terms of a construction loan agreement between rantor and Lender. My materials,equipment or supplies used or intended for use in the construction, developmerrt, or operation of the Property,whether stored on or off the Pro rty, shall also be subject to the lien of this Deed of Trust, and Grarnor, or Grantor's contractor rf loan proceeds are paid to such corrtractor, shall app�y the loan proceeds to the payment of lawful'claims for labor and material fumished for such construction. 38. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grarrtor hereby waives all homestead and other exemptions in ihe Property to which Grarrtor would otherwise be er�itled 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: Grarrtor adviowledges that Grantor has read,understands,and agrees to the terms and conditions of this Deed of Trust,and acknowled�s receipt of an exact copy of same. Datedthis 26th dayof July, 1999 GRANTOR: GRANTOR: � ( RANDALL E. NISLSEN GR TOR: GRANTOR: � ^ ^ � VALERIE J. NIE BN GRANTOR: GRANTOR: 1 � GRANTOR: GRANTOR: i � i i a I NEDOTE Rev.12�97 Page 5 of 6 I 1