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2�06421 35. PRESERVATION OF LIABILITY AND PRIORITY. Without affecting the Labl I 2Qty 0 of orrower. Grantor, or any guarantor of the Obligations, re any other person )except v Verson axpresely released In writing) for the payment and performance of the Obligations, and without affecting the rights of Lender with respect to any Property not expressly released In writing, and without impairing In any way the priority of this Decd of Trust over the interest of any person acquired or first evidenced by recording subsequent to the recording of this Deed of Trust, Lender may, either before or after the maturity of the Obligations, and without notice er consent: release any parson liable for payment or performance of all or any part of the Obligations': make any agreement altering the terms of payment or performance of sll or any part of the Obligations; exercise or refrain from exercising o r waive any right or remedy that Lender may have under the Deed of Trust; vacant additional security of any kind far any of the Obligations; or release or otherwise deal with any real or personal property securing the Obligations. Any person acquiring or 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 en all or any such actions by Lender. 36. DEFEASANCE AND RECONVEYANCE BY TRUSTEE. Upon the payment and pm ormanto in full of all of the Obligations, Lender will craccure 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 wi re nvey to Lender, or the parson or persons legally entitled thereto, thout warranty, any portion of Said Trani then held hereunder. The recitals In such hermoveyance of any matters or facts shall be conclusive proof of the truthfulness thereof, The grantee In any r,conveyance may be described us 'the person or persons legally entitled thereto ". 37. CONSTRUCTION LOAN, L This Dead of Trust is a construction mortgage under the Uniform Commercial Code, to re an obligation urred for the c nstructime of an Improvement on land, including the acquisition costs of land. This Deed of Trust secures a constradmon loan, and If will be subject to the terms of a construction loan agreement between Grantor and Lender. Any materials, equipment or supplies used or Intended fur 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 contractor If loan proceeds are paid to Such Oontractar, shall apply the loan proceeds to the payment at lawful claims for labor and material furnished for such construction. 38. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Grantor hereby waives all homestead and other exemptions In the Property to which Grantor would otherwise be entitled 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 Greater acknowledges that Grantor has road, understands, and agrees to the terms and conditions of this Deed of Trust, and acknowledges receipt of an exact copy of same.. Dated this _ 29th_ day of April, .2002... O GRANTOR J S CllPS]INOB I GRAN R' GRANTOR: OLLEEN K CDMIRINGS GRANTOR.. GRANTOR. GRANTOR: GRANTOR. NEOarE lral R" 1" Paenaola