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<br />ACKNOWLEDGEMENT OF EIGHTH
<br />MODIFICATION TO LOAN DOCUMENTS
<br />(The Yancey) 88-101239
<br />
<br />The undersigned intends to execute an Eighth Modification to
<br />Loan Documents ("Eighth Modification") dated this even date
<br />between the undersigned and FirsTier Bank, National Association,
<br />Lincolnp Nebraska which amends (i) the Construction Security
<br />Agreement, Deed of Trust, Assignment of Rents and Security
<br />Agreement dated October 16, 1984 as recorded on October 17, 1984
<br />as Instrument Number 84-005508 in the Register of Deed's Office
<br />of Hall County, Nebraska, as modified by seven previous
<br />Modification of Loan Documents recorded as Instrument Numbers
<br />85-002943, 86-100116, 86-100117, 86-100912, 86-102190, 86-105247
<br />and 87-101900, ("Original Deed of Trust") and (ii) that certain
<br />Trust Deed dated September 11, 1986 and filed September 16, 1986
<br />as Instrument Number 86-10529 in the Register of Deed's Office of
<br />Hall County, Nebraska ("Lower Level Trust Deed") the Lower Level
<br />Trust Deed securing the same debt as the foregoing as modified by
<br />the Seventh Modification of Loan Documents dated as of March 18,
<br />1987 and filed April 7, 1987 as Instrument Number 87-101900 in
<br />the Register of Deed's Office of Hall County, Nebraska and
<br />(iii) that certain Trust Deed dated September 11, 1986 and filed
<br />September 16, 1986 as Instrument Number 86-10528 in the Register
<br />of Deeds Office of Hall County, Nebraska ("Parking Lot Trust
<br />Deed") the Parking Lot Trust Deed securing the same debt as the
<br />foregoing (Original Deed of Trust, Lower Level Trust Deed and
<br />Parking Lot Trust Deed individually and collectively referred to
<br />as "Deed of Trust") regarding the real estate described as
<br />follows:
<br />
<br />Condominium Unit Nos. 001, 002, 101, 102, 103 and 104,
<br />The Yancey, a Condominium, a condominium in accordance
<br />with the Declaration recorded on October 17, 1984 under
<br />Document No. 84-005507 of the County of Hall, State of
<br />NebraSka, records, as amended.
<br />
<br />and
<br />
<br />Lots One (1) and Two (2), Parking Ramp Subdivision, a
<br />replat of Lots 5, 6 and 7, Block 9, Original Town of
<br />Grand Island, Hall County, Nebraska.
<br />
<br />Pursuant to Section 76-1005 Neb. Rev. Stat. the undersigned
<br />hereby acknowledges and understands the following:
<br />
<br />(a) The Eighth Modification to be executed amends the Deed
<br />of Trust and said Deed of Trust is a trust deed and not a
<br />mortgage; and
<br />
<br />(b) The power of sale provided for in the Deed of Trust as
<br />modified by the Eighth Modification provides substantially
<br />different rights and obligations to the Trustor than a mortgage
<br />in the event of a default or breach of obligation.
<br />
<br />Dated: February Z~ , 1988
<br />at L-.' .;[) (;l!. m.
<br />
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<br />DEVCO i~~STMENT CORP9~;ION
<br />a Neb~& co~.._ atf6~
<br />
<br />C::JG;a, , " V ~
<br />
<br />Dean E. Arter, President
<br />
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<br />
<br />Dated: February Z~, 1988
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<br />Dean E. Arter, President
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