Common use of Satisfaction of Deed of Trust Clause in Contracts

Satisfaction of Deed of Trust. Upon payment of the Debt in full or upon satisfaction of the conditions to release of the Mortgaged Property from the Lien hereof pursuant to a partial defeasance in accordance with the terms of the Note and Section 11.4 of the Loan Agreement, Beneficiary, at Trustor's sole cost and upon Trustor's request, shall execute and deliver to Trustor a satisfaction or reconveyance of this Deed of Trust, duly acknowledged and in recordable form, UCC-3 financing statements terminating any UCC-1 financing statements filed by Beneficiary relating to the Mortgaged Property, and such other documents or instruments as may be required to release the Lien of the Loan Documents from the Mortgaged Property.

Satisfaction of Deed of Trust. Upon payment of the Debt in full or ----------------------------- upon satisfaction of the conditions to release of the Mortgaged Property from the Lien lien hereof pursuant to a partial defeasance in accordance with the terms of the Note and Section 11.4 of the Loan Agreement, Beneficiary, at Trustor's sole cost and upon Trustor's request, shall execute and deliver to Trustor a satisfaction or reconveyance of this Deed of Trust, duly acknowledged and in recordable form, UCC-3 financing statements terminating any UCC-1 financing statements filed by Beneficiary relating to the Mortgaged Property, and such other documents or instruments as may be required to release the Lien lien of the Loan Documents from the Mortgaged Property.