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<br />ACKNOWLEDGMENT <br /> <br />88- 106002 <br /> <br />1,'Ve, James Phipps and Loue"" Phiops hll~hRnrl :Inri wi TA ('Trustor") <br />under that certain Deed of Trust io the original principalamnunt of Sixtv Thousand and no/100 Dollars -- <br />-----------------------------------------------------------1$ 60.000 00 land dated <br />November 7, 1988 IDeed of Trust) to be entered into among Trustor, <br />Earl 0, Ahlschwede ("Trustee") aod THE EQUITABLE BUILDING AND <br />LOAN ASSOCIATION OF GRAND ISLAND I"Beoeficiary"l, covering the followiog described property: <br /> <br />Lot One 11), L-K Subdivision, to the City of Grand Island, Hall County, Nebraska, <br /> <br />hereby acknowledge that it is understood that la) the Deed of Trust to be executed by Trustor is a trust deed and not <br />a mortgage and Ib) the power of sale provided for in the Deed of Trust provides substantially different rights and <br />obligations to the Trustor than a mortgage in the event of a default Dr breach of obligation. <br />Trustor acknowledges thst this Acknowledgment was made prior to the execution of the Deed of Trust, <br />Executed and delivered this 7th day of November , 19~. <br /> <br /> <br />~d'4~ <br /> <br />Tru.'# James Phipps <br /> <br />~O.Hr.~1hi: Oh', PflO- <br />Tru or Louann hipps <br /> <br />STATE OF NEBRASKA} <br />SS <br />COUNTY OF Hall <br /> <br />The foregoing instrument was acknowledged before me this <br />19~ by James Phi sand Louann i <br />Witness my band snd notarisl seal a Grand Island br <br /> <br />7th <br /> <br />dsyof Novembe~, <br /> <br />~&~<<I <br /> <br /> <br />My Commission eJ:plrea: 9- 1- j 9 <br /> <br /> <br />.~.. . <br />i:;:; <br />I <br />, <br /> <br />:~ <br />