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ACKNOWLEDGMENT OF UNDERSTANDING S6, 106171 DEED OF TRUST WITH POWER OF SALE The undersigned Borrower (a), K & M Hollister, Inc. , understand (s) that the undersigned islare being &axed to act as Trustor (s) in a proposed Trust Deed with Power of Sale wherein the Bank of'Doniphan Is Beneficiary, which Trust Deed will secure payment of a loan to be made by the Bank of Doniphan to the undersigned In the amount of one Hundred Twenty Thousand and No/100 (_ 120.000.00 _ ), acknowledge (s): (See Legal atrached) 1. Well understand that the document to be executed is a Trust Deed and not a mortgage. 2. Well understand that the POWER OF SALE provided for in the Trust Deer+ Drovides me with sub- stantially different rights and obligations in the event of a default or breach of obligation than the rights and obligations provided me In a mortgage. 3. Well have had an opportunity to read the proposed Deed of Trust with Power of Sale, but we are signing this acknowledgment first, before we are asked to sign the Deed of Trust. Dated this 22nd day of October 19 86 at 10:30 o'clock a' M. H llis� nt Trustor (Borrower) rustor( rower) Secretary Trustor (Borrower) Trustor (Borrower) STATE OF ) ss: COUNTY OF HALL ) The foregoing instrument was acknowledged before me this day of by - Notary Public (TO BE USED IF TRUSTOR IS A CORPORATION) STATE OF Nebraska _ ) ) ss. COUNTY OF Hall j The foregoing acknowledgement was acknowledged before me on 22md day of Gctob er ig ob by Kenneth J. Hollister, President; and Mary Gwen Hollister, Secretary (Title) a Nebraska Corporation, on behalf of the corporation. �dlet�lM,yr_>1HMrMD1Y Notary Public 61F fth 27. Isla My commission expires February 27,198 S The Southwest Quarter of the Southeast Quarter (SW }SE}) and theSoutheast Quarter of the Southwest Quarter (SE }SW;) of Section Two (2), Township Nine (9) North, Range Ten (10) West of the Sixth Principal Meridian, Hall County, Nebraska. and A Tract of Land Comprising a Part of the Southwest Quarter (SW}) of Section Fourteen (14), Township Nine (9) North, Range Ten (10) West of the 6th P.M., in Hall County, Nebraska, more particularly described as follows: Beginning at the Southwest corner of said Section Fourteen (14); thence northerly along the west line of said Section Fourteen (14), a distance of Two Thousand Six Hundred Forty One and Sixty Five Hundredths (2,641.65) feet to the northwest corner of said Southwest Quarter (SW%); thence easterly along the north line of said Southwest Quarter _ (SW}), a distance of Two Thousand Six Hundred Forty Three and One Hundredths (2,643.01) feet to the Northeast corner of said Southwest Quarter (SW}); thence southerly along the east line of said Southwest Quarter (SW}) a distance of One Thousand Seven Hundred Seventy Three and Eighty Five Hundredths (1,773.85) feet; thence deflecting right 35038'37" and running southwesterly, a distance of One Thousand Fifty Five and Sixty Four Hundredths (1,055.64) feet to the south line ti- of said Section Fourteen (14); thence westerly along the south line of said Section Fourteen (14), a distance of Two Thousand Twenty Eight and Three Hundredths (2,028,03) feet to the place of beginning and containing 153.964 acres sore or less of which 3.570 acres more or leas are presently occupiled by county road right -of -wry