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rm- <br />%1-- 101597 <br />ACKNOWLEDGMENT OF UNDERSTANDING <br />OF <br />DEED OF TRUST WITH POWER OF SALE <br />The undersigned Borrowers, JAMES D. RILEY AND SHARON <br />J. RILEY, understand that the undersigned are being asked to <br />act as Trustors in a proposed Trust Deel With Power Of Sale <br />of the following described real estate situated in Hall <br />County, Nebraska: an undivided one -half (h) interest in and <br />to the Southwest Quarter (SWh), and the Southeast Quarter of <br />the Northwest Quarter (SEhNW'k), of Section Twenty -nine (29), <br />Township Eleven (11) North, Range Twelve (12), West of the <br />6th P.M., excepting one acre of land in a square situated at <br />the Southeast corner of said property as conveyed by deed <br />dated 11 -27 -1893 and recorded in Book 22, page 150 and <br />conveyance for road purposes of a seven foot strip running <br />along the South side of said property recorded in Book 150 <br />page 380 both in Hall County records, wherein the BANK OF <br />WOOD RIVER at Wood River, Nebraska, is Beneficiary, which <br />Trust Deed will secure payment of a loan to be made by the <br />Bank of Wood River to the undersigned in amounts now owing <br />and to be advanced hereafter up to the maximum amount of <br />THREE HUNDRED THOUSAND AND N01100 DOLLARS ($300,000.00), and <br />hereby acknowledge: <br />I. We understand that the document to be executed <br />is a Trust Deed and not a mortgage. <br />2. We understand that the POWER OF SALE provided <br />for in the Trust Deed provides us with substan- <br />tially different rights and obligations in the <br />event of a default or breach of obligation than <br />the rights and obligations provided us in a mortgage. <br />3. We have had an opportunity to read the proposed <br />Deed Of Trust With Power Of Sale, but we are <br />signing this acknowledgment first, before we are <br />asked to sign the Deed Of Trust. <br />Dated this day of March, 1987, at o'clock <br />A.M. <br />.- <br />J s D. Riley, <br />stor (Borrower) <br />T � <br />i y � <br />Sh on J. ley,' <br />Trustor (Borrower) <br />STATE OF NEBRASKA ) <br />(ss: <br />COUNTY OF HALL ) <br />The.,,foregoing instrument was acknowledged before me <br />this day of March, 1987, by James D. Riley and Sharon <br />T, a sy, husbaand and wife. - ' <br />f i <br />Notary Pu icQ099M E <br />