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200203182 35. PRESERVATION OF LIABILITY AND PRIORITY. Without affecting the liability of Borrower. Grantor, or any guarantor of the Obligations, Or any other person (except a person expressly released 1n writing) for the payment and performance of the Obligations, and without affecting the nyhts of Lander with respect to any Property not expressly released In mind, and without impairing in any way the priority of true Deed of Trust over the interest Of any person acquired or first evidenced by recording subsequent to the recording of firs. Deed of Trust, Lender may, either before or after the matonl z of the Obligations. and nd wnhoul notice or consent: release any person liable for payment or performance of all or any part of the Obligations; make any agreement altering the terms of payment or performance of all or any part of the Obligations: exercise or refrain from exercising or waive any right or harmony that Lender may have under the Deed of Trust; accept additional security of any kind for o any of the Obligations; r release or otherwise deal with any real or parsonal property securing the Obligations. Any person :inquiring o recording evidence of any interest of any nature in the Property shall be deemed, by acquiring such interest or recording any evidence thereof, to have consented to all or any such actions by Lender. 36, DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment and performance 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 costa of recordation and any reconveyencd lee charged by Trustee, Upon women 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 entitled thereto, without warranty, any portion of said premises than held hereunder. The recitals in such reconveyance of any matters or facts shall he conclusive proof of the truthfulness thereof. The grantee in any reconveyance may be described as "the person or persons legally entitled thereto', 37. CONSTRUCTION LOAN. ❑ This Dead of Trust is a construction mortgage under the Uniform Commercial Code, to secure an Obligation incurred for the construction Of a nrpmvement on land, Including ine acgwsiu.m costs of land. This Decd of Trust secures a construction loan, and it will be subject to the terms of a construction loan agreement between Grantor and Lender. Any materials, equipment or supplies used O intended 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 Gra tor's contractor if loan proceeds are paid to such cgnhactoq shall apply the loan proceeds to the payment of lawful claims for labor and material furnished for such construction. 38. WAIVER Or HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions in the Property In which Grantor would otherwise be Untitled 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: Grantor acknowledges that Grantor has read understands, and aymos to the terms and conditions of this Dead of Trust, and acknowledges receipt of an exact copy of same. Dated this 2 l a t day of Feb rues �, 2002 6fiFlNTOR' GRANTOR'. HARLAN R PUNCOCHAR GRANTOR GRANTOR: rr NCOCHA -- ANNF.NMARIR PONCOCHAR GRANTOR'. GRANTOR GRANTOR- GRANTOR sCL TE IHYI Pev. l'as Pogo 1 .1 1