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ACKNOWLEDGMENT OF UNDERSTANDING <br />OF- 87- --101559 <br />DEED OF TRUST WITH POWER OF SALE <br />The undersigned Borrowers, DANIEL E. RILEY AND LEANNE <br />M. RILEY, understand that the undersigned are being asked to <br />act as Trustors in a proposed Trust Deed 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 (SA), and the Southeast Quarter of <br />the Northwest Quarter (SEhNW4), 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 Hail 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 />1. 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 />A.M. Dated this '" day of March, 1987, at �_ o'clock <br />Daniel E. Riley, 1 <br />Trustor (Borrower) 1 <br />=1L I J ✓ /� <br />anne M. Riley, <br />Trustor (Borrower) <br />STATE OF NEBRASKA ) <br />(ss: <br />COUNTY OF HALL ) <br />The foregoing instrument was acknowledged before me <br />this 3 day of March, 1987, by Daniel E. Riley and Leanne <br />M. Riley, husband and wife. jam_ <br />Notary /attic <br />L �tH0u1R1Fsrmcr�srru <br />R RR J Md <br />