This giant-sized (not square bound) book features an epic-length story and the death of Ned Leeds, the original Hobgoblin.  This story connects with the story in Web of Spider-Man #29.  The protective paper inserted by the grading company has slipped out a little bit from behind the front cover of the book.  This is not a defect.  The book is graded 9.6 NM+ with white pages by CGC.