Common use of Release Provisions Clause in Contracts

Release Provisions. The Deed of Trust shall contain the following provision for release of Lots and/or Units from the lien thereof: “Provided that the Grantor requests the release of one of the Lots with a completed Unit thereon from the lien of this Deed of Trust prior to the repayment in full of the Loans, and provided that the sales contract with respect to such Lot and/or Unit is in the form approved by the Beneficiary and at a minimum price set forth in the Loan Agreement, or if not set forth then otherwise satisfactory to the Beneficiary in its discretion, then the Beneficiary agrees to release the lien of this Deed of Trust with respect to any one of the Lots and/or Units, upon Grantor’s written request, upon the following terms and conditions:

Release Provisions. The Deed of Trust shall contain the following provision for release of Lots and/or Units from the lien thereof: “Provided that the Grantor requests the release of one of the Lots with a completed Unit thereon and/or Units from the lien of this Deed of Trust prior to the repayment in full of the LoansSecured Indebtedness, and provided that the sales contract with respect to such Lot and/or Unit is in the form approved by the Beneficiary and at a minimum price set forth in the Loan Agreement, or if not set forth therein then otherwise satisfactory to the Beneficiary in its sole discretion, then the Beneficiary agrees to release the lien of this Deed of Trust with respect to any one of the Lots and/or Units, upon Grantor’s written request, upon the following terms and conditions: