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<br /> GOi�TRACT AT�TD AGREEPI�ENT. �
<br /> THIS CONTRACT AND AGREEMENT �2ade and entered into this lOth day of May, 1932, by and between
<br /> Geor�,� MeMillen, a single man , of Hall County, Nebraska, of the first paxt , and Ray VG.Hutton,
<br /> of Hall Count,y, Nebra,slca, af the second part;
<br /> WITNESSETH: That for and in conGideration of the covenants and agreements as hereinafter set
<br /> forth, the parties herEto agree as fcllows;-
<br /> That the first party hereto ha,s this day sold to tne second party, �;nd the second party has
<br /> y�urchased from the first party �he follo�vin� descr�ibed real estate in Hall County, Nebraska,
<br /> to-�vit:-
<br /> Lots 5 ,b ,7,� ,9 ,10,11,12 ,13 and 14 in Block 13 of Meth� s Addition to the City of Grand Island,
<br /> Nebraska, and
<br /> Lots 1 , � , 3 , �.nd 4 in Block � of Loan� s Subdivi.sion to the City of Grand Island,Nebrasl;a.
<br /> for which the second party a�rees to pay the sum of �2600.00 in manner and form as fallows:-
<br /> .�1 ,000.00 of said consideration to be in the nature of a �1,000.00 first mortga.ge �hich the
<br /> said R�,y Hutton assumes a.nd agrees to pay;
<br /> �400.00 �ash on the si�nin� of the within agreement, and the remainin� �120�.00 in paVments o
<br /> �25.Q0 �er rnonth commencing June the lst , 1932 , all de�"exred p�.yments drav�ing interest at the
<br /> rate of six per cent per annum, said. interest payable semi-annually commencing December the
<br /> lst, 1932.
<br /> It is further understood and agreed that possession of said premises will be delivered to
<br /> purchaser on the signin� of the v�ithin a.greement. That tne premises shall be free and clear
<br /> of taxes for the year 1g31 and a11 prior years , purchaser to pay 1932 and all subsequent taxe .
<br /> It is under�tood that tne first party shall sv.bmit to second. party an abstract of title shooa-
<br /> ing s�,id premises free and clear of all liens and incumbrances s�.ve and except �1,000.00 firs
<br /> rr:ortgage, such abstr�,ct to sho�� merchantable title, s�abj ect to said mortgage, to be in the
<br /> name of f irst party. S�,id abstract to be s�zbmitted to purchaser �ithin thirty daVs f x^m date
<br /> hereof and second. party to return the same to first ?�arty with any objections thereon within
<br /> two ��aeeks �,fter the s�xne is �ubmitted to him.
<br /> First par.ty undertakes that in the event is he unable to .supply merchantable title second
<br /> party sha11 h�,ve the �400.00 payment �,bove mentioned returned to him, with in�ere�t thereon
<br /> at 6�o from date of payment , and he shall be privileged to retain posGession of said premises
<br /> until said return pa.yment is made'. Return of. the �own �a,yment to second party shall req�aire
<br /> him to surrender nosaession of the z�remises.
<br /> On completion of all payr�ents required of second. party v�arranty deed of the first na.rty, tfihi�c
<br /> i� to be executed as of tnis date and placed in escrow, shall be delivered to purchaser. It
<br /> is understood th�,t first pa.rty will this day make said deed and deliver same in e�crotr, to
<br /> Ameriean Securities Company, where the same, v�ith copy of this a�reement , shall be held until
<br /> delivery shall be made to �urchaser as by the terms of this agreement provided.
<br /> �econd pZrty ia required by this agreement to maintain �2500.00 fire, tornado and wind storm
<br /> insura�c�ce on the buildin�s conveyed b,y this a�reement, said insurance policy to carry the
<br /> ' usual endorsement � �howin� loss , i� any, payable �o first party as hie interests may avpear.
<br /> IN WITN�;SS ��IER�'OF the p�.rties hereto have this day set their hands on the day first above
<br /> written.
<br /> F.J.Cleary Geo l�cM�llen
<br /> First Party
<br /> Martha Vodehnal R.VO.Hutton
<br /> Second Party.
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