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LINDSAY v. FIRST NAT. BANK, BAYARD, NEB.

No. 43961.

318 N.W.2d 275 (1982)

211 Neb. 285

Arthur H. LINDSAY and Ethel D. Lindsay, husband and wife, Appellees, v. FIRST NATIONAL BANK, BAYARD, NEBRASKA, a corporation, Appellant, Delila Arlene Lemley, Personal Representative of the Estate of George E. Lemley, deceased, Appellee.

Supreme Court of Nebraska.

April 16, 1982.

Attorney(s) appearing for the Case

James R. Hancock of Hancock Law Offices, Scottsbluff, for appellant.

Clark G. Nichols of Winner, Nichols, Meister, Douglas & Kelly, Scottsbluff, for appellee Delila Lemley.

Heard before BOSLAUGH, McCOWN, and CLINTON, JJ., and HAMILTON and CASE, District Judges.

CASE, District Judge.

This is an action for declaratory judgment with the following factual situation: One Richard K. Schultz (not a party to this action) was indebted to the defendant First National Bank of Bayard, Nebraska. He executed a financing statement and security agreement on January 5, 1978, which was filed on January 12, 1978.

In that document the following language appears as a description of a portion of the security: "Lot 5 Lake Minatare and...

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