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200001'730 <br />ACKNCWLEDG ENT OF UNDERSTANDING <br />The undersigned, who is to be Trustor under the Deed of <br />Trust which will be dated -% 5- , 2000, in which Deed of <br />Trust, the Trustee is Mary J. Livingston, Attorney at Law and <br />member of the Nebraska State Bar Association as required by Neb. <br />Rev. Stat. Sec. 76 -1003 (1994 Cum. Supp.), and the Beneficiaries <br />are Volney D. Lofgreen and Mary E. Lofgreen, which secures <br />indebtedness in the original principal sum of Twenty Three <br />Thousand Forty -Two Dollars and 19 Cents and ($23,042.19) covering <br />the following: <br />Fractional Lot Five (5) , and the West Half (W lt) of <br />Fractional Lot Six (6), in Block Twenty -Two (22) in <br />Nagy's Addition to the City of Grand Island, Hall <br />County, Nebraska, and Fractional Lot Five (5), and the <br />West Half (W 1 -0 of Fractional Lot Six (6), in Block <br />Twenty -Two (22) in the Original Town, now City, of <br />Grand Island, Hall County, Nebraska, and all that part <br />of the Southwest Quarter of the Southwest Quarter (SW <br />1/4 SW 1/4), of Section Ten (10), in Township Eleven <br />(11) North, Range Nine (9), described as follows: <br />Beginning at a point One Hundred Thirty -Two (132) Feet <br />Northerly from the Southwest Corner of said Lot Five <br />(5), in Block Twenty -Two (22) of the Original Town of <br />Grand Island, on the East line of Oak Street, if <br />extended, thence Easterly at right angles along the <br />South line of the Alley, if extended, in said Block <br />Twenty -Two (22), in Nagy's Addition to the City of <br />Grand Island, to a point where said line meets the <br />South line of said Alley, being the Northerly line of <br />said Lot Six (6), in Block Twenty -Two (22), in Nagy's <br />Addition, thence due South to the South Section line of <br />Section Ten (10), in Township eleven (11), North, Range <br />Nine (9), thence running Westerly at right angles to <br />the East line of said Oak Street, and thence Northerly <br />to the place of beginning, being a rectangular piece of <br />ground containing 99 Feet fronting on Fifth Street and <br />a 132 Feet fronting on Oak Street in said City of Grand <br />Island, Hall County, Nebraska <br />Understand that: <br />(a) The document to be executed is a Deed of Trust and not a <br />mortgage; and <br />