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ACKNOWLEDGMENT OF UNDERSTANDING DEED OF TRUST WITH OF SALE 86_. 107170 The undersigned Borrower (s), John H. Olson Debra K. Olson, Husband a$AgAd (s) that the undersigned IWWO being asked to act as Trustor (s) in a proposed Trust Deed with Power of Sale wherein the Bank of Donlphan Is Beneficiary, which Trust Deed will secure payment of a loan to be made by the Bank of ` Ooniphan to the undersigned in the amount of Forty Thousand and No/ 100 (= 40.000.00 acknowledge (s): (See legal attached) 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 Deed provides 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 3rddayof December , 19 86 , at 4:00 o'clock P- M. Trustor(Borrower) Trustor (Borrower) f Trustor(Borrower) -mac k- GC, r7-- Trustor (Borrower) STATE OF Nebraska ) ss: COUNTY OF HALL ) The foregoing Instrument was acknowledged before me this 3rd day of Dpy pmhpr by John H. _Olson and Debra K Olson Husband and Wife.�r-- wirtaieM�►- airsa+r� � �J� ��J � K Notary Public t# tsrnt' 6iF tilt 1T, I!M THS BAST.26.50 FEET OF LOT 7 AND THE WEST 47.50 FEET OF LOT 8, BLOCK 2, RIEF'S ADDITION TO THE VILLAGE OF DONIPHAN,_HALL COUNTY, NEBRASKA AND A TRACT OF GROUND 74 x 253 FEET IN THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER (NWAMW OF SECTION SIGHT (8), TOWNSUIP NINE (9) NORTH, RANGE NINE (9). WEST OF THE 6TH P.N., IN HALL COUNTY, NEBRASKA, DESCRIBED AS FOLLOWSs Coawencing at a point on the North line of Section Eight (8), Township Nine (9) North, Range Nine (9) West of the 6th P.M., Three Hundred Sixty -three and one -half (363.5) feet East of the point of intersection of the East line of the St. Joseph and Grand Island Railway Company's right -of -wag with said 'North line, running thence South and parallel with said right -of -way Two Hundred Fifty -three (253) feet, thence Bast at right angles and parallel with said North line Seventy -four (74) fat, thence North at right angles Two Hundred Fifty-Three (253) feet to the North line of said sections thence West along said North line Seventy -four (74) feet to the place of beginning. a� (lbni{rnw.�•1M41�1. v`r',r:�v"•a�� NE !Wfl,� �n