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A PARCEL OF LAND LOCATED IN THE NORTHEAST QUARTER OF
<br />SECTION 27, TOWNSHIP 12 NORTH, RANGE 12 WEST OF THE SIXTH P.M.,
<br />HALL COUNTY, NEBRASKA, BEING DESCRIBED AS FOLLOWS:
<br />REFERRING TO THE NORTHEAST CORNER OF THE NORTHEAST
<br />QUARTER OF SECTION 27; THENCE S88 °56'07 "W (ASSUMED BEARING)
<br />ON THE NORTH LINE OF SAID NORTHEAST QUARTER, A DISTANCE OF
<br />1049.88 FEET; THENCE S01 °03'53 "E, PERPENDICULAR TO SAID NORTH
<br />LINE, A DISTANCE OF 76.38 FEET TO THE POINT OF BEGINNING;
<br />THENCEN83 °22'45 "E, A DISTANCE OF 240.26 FEET; THENCE S85 °37'29 "E,
<br />A DISTANCE OF 162.42 FEET; THENCE N87°42'51"E, A DISTANCE OF 26.85
<br />FEET; THENCE S09 °50'10 "E, A DISTANCE OF 861.79 FEET; THENCE
<br />S16 °30'18 "W, A DISTANCE OF 403.24 FEET TO THE NORTH LINE OF LOT
<br />1, MIETH 2ND SUBDIVISION; THENCE S86 °49'26 "W ON SAID NORTH
<br />LINE, A DISTANCE OF 200.87 FEET; THENCE N51 °20'00 "W ON SAID
<br />NORTH LINE, A DISTANCE OF 198.04 FEET; THENCE S76 °13'52 "W ON
<br />SAID NORTH LINE, A DISTANCE OF 154.69 FEET; THENCE N22 °48'42 "E,
<br />A DISTANCE OF 168.40 FEET; THENCE N01 °09'25 "W, A DISTANCE OF
<br />988.55 FEET TO THE POINT OF BEGINNING, CONTAINING 13.78 ACRES,
<br />MORE OR LESS; and
<br />A PARCEL OF LAND LOCATED IN THE NORTHEAST QUARTER OF
<br />SECTION 27, TOWNSHIP 12 NORTH, RANGE 12 WEST OF THE SIXTH P.M.,
<br />HALL COUNTY, NEBRASKA, BEING DESCRIBED AS FOLLOWS:
<br />REFERRING TO THE NORTHEAST CORNER OF THE NORTHEAST
<br />QUARTER OF SECTION 27; THENCE S88 °56'07 "W (ASSUMED BEARING)
<br />ON THE NORTH LINE OF SAID NORTHEAST QUARTER, A DISTANCE OF
<br />1717.58 FEET; THENCE S01 °03'53 "E, PERPENDICULAR TO SAID NORTH
<br />LINE, A DISTANCE OF 71.76 FEET TO THE POINT OF BEGINNING;
<br />THENCE S86 °42'59 "E, A DISTANCE OF 351.19 FEET; THENCE S01 °09'25 "E,
<br />A DISTANCE OF 350.02 FEET; THENCE S88 °50'35 "W, A DISTANCE OF
<br />350.14 FEET; THENCE N01 °09'35 "W, A DISTANCE OF 377.21 FEET TO THE
<br />POINT OF BEGINNING, CONTAINING 2.92 ACRES, MORE OR LESS;
<br />hereinafter collectively referred to as the "Temporary Construction Easement," and depicted on
<br />Exhibit `B" attached hereto and incorporated herein by this reference; and
<br />WHEREAS, the Grantor and the Grantee previously disagreed as to the fair market value
<br />for the above - reference Permanent Flood Easement and Temporary Construction Easement,
<br />resulting in the Grantee filing a condemnation action in the Hall County Court, and the Grantor
<br />subsequently filing an action in the Nebraska District Court for the District of Hall County,
<br />Nebraska, Case No. CI 12 -930, challenging the valuation made by the County Court's three- person
<br />Board of Appraisers in the initial condemnation action; and
<br />WHEREAS, the Grantor and the Grantee participated in a mediation, as ordered by the
<br />District Court in the aforementioned district court case, on February 14, 2014, in an effort to come
<br />to a mutual agreement on the fair market value of the above- referenced Permanent Flood Easement
<br />and Temporary Construction Easement, and to settle the legal action; and
<br />WHEREAS, following the mediation, the Grantor and the Grantee entered into a
<br />Memorandum of Understanding with regard to the fair market value of the above - referenced
<br />Permanent Flood Easement and Temporary Construction Easement, and subsequently entered into
<br />a Settlement Agreement and Release; and
<br />WHEREAS, in accordance with the Memorandum of Understanding and the Settlement
<br />Agreement and Release entered into by the Grantor and the Grantee in settlement of the above -
<br />referenced district court case, the Grantor is willing to grant such Permanent Flood Easement to
<br />the Grantee, its successors, and assigns for the purposes of flooding the area subject to the
<br />Permanent Flood Easement from time to time, and for maintaining the area subject to the
<br />Permanent Flood Easement, as needed to properly operate the floodway dam and related structures
<br />situated on a neighboring parcel or parcels, subject to the condition that all obligations herein
<br />required are performed;
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<br />201402127
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