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99 111871 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment andperfom�ance in full of all of the Obligations,Lender will execute and deliver to GraMor those documerrts that may be required to release this Deed of Trust of record. Grantor shall be responsible to pay any costs of recordation and any reoonveyance fee charged by Trustee. Upon written requesi 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 pa�mierrt by Lender of Tn�stee's fees, Trustee shall recorney to Lender,or the person or persons legally entitled 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 truthfulness thereof. The grantee in any reconveyance may be described as"the person or persons legally errtftled thereto". S7. CONSTRUCTION LOAN. ❑ This Deed of Trust is a construction mortgage under the Uniform Cormieraal Code,to secure an obligation incuRed for the construclion of an improvemeM on land,induding the acquisition costs of Iand. This Deed of Trust secures a construction loan,and it will be subject to the terms of a construction loan agreemeM between Grantor and Lender. Any materials,equipment or supplies used or imended for use in the constructwn, development,or operation of the Property,whether stored on or off the Prop rty,shall also be subject to the lien of this Deed of Trust,and Grantor,or Grantor's contractor if loan proceeds are paid to such corrtractor, shall apply the loan proceeds to the paymerrt of lawful claims for labor and material fumished for such construction. 98. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions in the Property to which Grantor would otherwise be errtitled under any applic�ble law. 39. JURY TRIAL WAIVER. GRANTOR HEREBY WAIVES ANY RIGHT TO TRIA�BY JURY IN ANY CIVIL ACTION ARISING OUT OF,OR BASED UPON,THIS DEED OF TRUST. 40. ADDITIONAL TERMS: Grarrtor admowledges that Grantor 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 lst day ofNovember, 1999 GR� GRANTOR: --� L. AND$RSON GR TO : GRANTOR: HOLLY A. $ SON GRANTOR: GRANTOR: GRANTOR: GRANTOR: � NEDOTE Rev.1Z97 Pape 6 d 6