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<br /> �I SC �L�,t��T�E�IJS ��EC 01�� �'
<br /> 17604—The Augustine Co., County Supplies, Grand Island, Nebr.
<br /> AGREEr,��r:�T ; /�
<br /> TH�S ACrREFlt'E?`1`? mt�de thi� 7th day oP DPCernber,1940, between Federal Farm I�1or*gag� eorporation
<br /> hereinaPter re�'errPd to a,s the Sell er,�nd Alex I4�argheim oP �,I i natare, Scottsbluf P,PJebra�ka
<br /> hereinafter referred to as the Buyer, Post Office Addre�a Courity State
<br /> �rTT�TESSETH ;
<br /> (I � The 5eller hereby sells 'Ca the buyer and the Buyer hPreby purchases f'rom the Seller,
<br /> the follov�ing cl.escribed re�,I P�t�.te, situated in Ha11 County;State o�' l�ebraska, aub,�ect to
<br /> any existing hi�haaa�rg, ��,sements and any re,servatiori�a in ttie United States and State
<br /> Patente, to-�it :
<br /> South Hal.f oP the South�ast Quarter ( 4� SE�) ,Sectiar Slx � 6) , TownshSp Eleven (11) North,
<br /> Range Ten ( I.0) Vlest oP the 5!xth ( 6th) principal A2eridian, excepting and reserving one-
<br /> half (�) of' a�_I oil,gae anc� mineral rigtite therein,wrhich are exprPS�Iy reaerved and
<br /> retainea by the se�_ler,anci st�b,�ect to et�.�emerit ta Central Power Company for a power Iine,
<br /> together witYi the buj lciln�3 �rid in�pravements tfiereon .
<br /> P.or a tot�,l cc�nsideration oP ��1�OO.OU which Buyer a�;rees to pay to Se7.ler at its oPPice
<br /> in pmaha,NPbrawka,with '�nterest �n the ba?.anc� oP �uch puretla�e price rsm�,ining from time
<br /> to ti.'�iMP, unp�.1 d, pa�T�.1�1e gemi-annually on the hereinaYter deeignated principal payment dates,
<br /> to be computed at the rate oP 4J pPr annum fram the Iet day of 1t2arch,1941, for the Piret
<br /> year thereaYter,arLd at the r�te oP 4� per annum for the nc�xt year tYiereaPter,and at the
<br /> ra*e oP 5; pPr annum ProM thp ex�iration oP said second year until said balance i� PuI?_y
<br /> paid.Seller acknawled�;es recPipt oP ��4a.00 eaeh in hand paid.It is agreed that the bal-
<br /> ance o�' said purchasP price, to-a�it: �3960.U0 with interest as hereinbePore provlded, shalZ I
<br /> bP pt�i.d �n installments, in the fbllowing manner:
<br /> �760.00 on or befc�re the ist d��r oP February,1941 :
<br /> �lUO.Ua on or bef'c�re the Z�t day o�' December,l9�-l;
<br /> �100.00 on or before the yst da;r o� June, 1y�2:
<br /> �.nci Q like sum on or bP.fO2�e the first day oP. each Decettber dc June and therea�'ter unt11 said ,
<br /> purchase price and intersa� is paid in iull.It is a�reed that any and all euah payments, '
<br /> either principal or 1 nLPrest n�t p�.id when due sklal?_ bear in1,erest at 7� per annum Prom
<br /> due date until p�.id.
<br /> ( 2) It Ia a�reed the �eller,at its option,May conve�y title to the Buyer at any time durin� ',
<br /> the existence of this a�;reemPnt,and rec�uire Buyer to execute A note( s) and mortgage( s ) ,
<br /> pa��able in �,ccardance with ar_►ortization p�_�:n an�. tables prescrii��d �ay the Seller and the
<br /> Farm Credit Aclministration for a regult�r ar.iortized Federal I,and �ank Ioan, Por so much of
<br /> ba7_ance o�' pvschase price a� tvill not exceed loanable per cent of normal appraised value
<br /> oP above lands,and note( s) and martgage( a) gor such balance of pur�hase price a� is not
<br /> P,I��°�.17I.P. Por re�;ular anortized �"�ederal Land B�,nk loan( s ) ,payeUle on �nortized basis, conditioned '�
<br /> th�.t any such semi-annua7 p�,yment(s ) , on any such note( s) and Mort�age( s) shall not exceed
<br /> in ar,iount the sen7�-annual paymerits required to be paid by this agreement,and Por this pur-
<br /> pOaP.��"LP, Buyer agrees to execute the necessary ap�IS.cation( s) for auch Federal Land Bank
<br /> Ioan(s) ,nay the usual Pee� and charges of the Seller Rnd the proper r,ational farm I.oan
<br /> ��.t�socia�'on inci�ent to the r,�aking thereof, subecribe and pay for atock 2n the proper national '�
<br /> Parm �oan ar�soclation in an amount equal to 5 per cent of such Ioan( s) and Pxecute necessary
<br /> note( s) and I4lortga�;e(s) ,and procure execution of any such note( s� and mortga�e( s) by any
<br /> o'�her requirPd $ig;nator. ies ar�d pay a7_1 rscording feea inc�dent thereto,PROVIDED,upon tender
<br /> of conve,yance, the Buyer may, in ].ieu of execution cf note( s) and mort�age( s ) pay the balance
<br /> o�' purchase price in cugh,an� in event o�' Buyer. ' s f.a.11.ure and refusal to provide thP Seller I
<br /> �ith note( s) and *�ortg�.�e( A) du1.y execu�ed by a7_1 required parties, �uch balance of purchase !,
<br /> price aha]_?,at the option o�' the 9P11er, �mmediately become due and payable. 'I
<br /> ( �) Se11er �.�reea th�t,unlP�s t}ie option reserved to it in paragraph ( 2) }iereo2' be 800ner
<br /> exerciaed, it �ill,t�hen the �ota.�1_ consideration above mentioned is f'ully paid,furnish to
<br /> Buyer an ab�tract o�' tit1P to aa�d preMises �howing merchantable title in Seller sub,ject
<br /> to such taxes anc� F3fiSP,A8fi1P,21't� levied a�;ainst s�id �remi�es and other I.iena therean as Buyer
<br /> is hy �hjs agreement o.bllgatPd to p�,y,and sub�ject to any and all encumbrance wh�ch may be
<br /> or became a Iien upon ttie interest oP F3UyET• in said �rer�.ise�,and r�ill convey said premises
<br /> to Buyer by Q deecl of canveyance containing coveni�nts oP selzen and right to convey, aub-
<br /> ,j Pct tc� said taxe$,asaessmerits,��nd Pncumbr.ances.BY�ould Sel?er be unable to make said abstract
<br /> show m�rchantable ti�Is wi�hir� a reasonable tine, it re��rves the right to refund to Buyer
<br /> aI1_ eums paid to it an said purchase pric,e,v�rith ir.terest t!:ereon a� ��o per anrnam f'rom date
<br /> aP pa��ment by Buyer,a�ter deducting the �'air and reasonable rental va�ue oP said premises
<br /> durin� the period �u�er r�a�� have had posae�sion �'��reoP,whereupon al1 0�' Buyer's rlghta
<br /> thereln �hall abaol.utely cea�e an3 terminate, and Buyer sha?1 have no claim or right �p�' any
<br /> kind a�;a1 n�t the S�ller.
<br /> ( �-) �t is 1'urther agreeci that Bu�Ter eha�7. pay all �axes and asapssnents levied against said
<br /> prc�m�ses which aecome due and pt��rable sub�equent to I4Tarch le�,1941 inclizding any installments
<br /> oP 9pP,C1Ei�. as�ea�ments whjch ma�ure subsequent to sa3d date and a7.so any specSal asseasmenta
<br /> levlpd a�;�?nst eaici prei:�ises af�er the date hereoP re�ardleas o�' when the same become due
<br /> anci payable.Seller shall pay a?1 tr�Yes and asse88r:�ents which become due and payable on or
<br /> prior to s�.:Ld Marc�z 1gt, except�n� any speci�.� a�sessmenta levied against said premisea
<br /> a�'ter the dAtP, hPrpof'.Bu��er sha�1 keep all insurab7_e improveraents lnsured againat f�te,
<br /> Ii�htnin�,windator+ni,and tornado from and a�ter 11�iarch lat,I��+1, to the satisfaction oP Seller,
<br /> said ineura.nce to be payr�ble to Sellsr as its intereet May appear at time of lo�s, and to
<br /> delSver the palic�es oP inaurance to Seller,said obli�;ation to Purnish lnsurance shall con-
<br /> tinue so long as any part oP said purcha,qe price shall rer�ain unpaid. If Buyer faiZs to
<br /> Purnieh said i.r.aurt�nce, or to pay 8a11 C� �axes or assesenent3 bepore the sar,ie become delinquent,
<br /> Seller r�ay,at i�s optian,procurP eticti insurance and/or ��ay euch taxes and assessments, the
<br /> ar.lounte exnended ther�for,wi�h lnterPSt at 7q per annum,�o be added to the inst�.11ment ot the
<br /> purcha�e price next Yalling due,anci to be paid by Buver to Se_l.ler on the date said next
<br /> insta7_lmc�nt become� due �nd payable.
<br /> ( 4a) It is further a�;rPed that in caae o�' loq� or daMage to said improvementa by fire,].ightning,
<br /> �vinc�storm, or torna�a �,Ft�r the d�te of,the approva.l and execution of this agreemen'� by the
<br /> Se11er and prior to March 1st, 19�+1, the proceeds of such insurance placed on said improve-
<br /> ments by �eller, as may be in force upon the date of such los�, shall be accep'�ed by Buyer
<br /> as and constitute full replacement for the improvements so damaged or destroyed. Said pro-
<br /> ceeds to be used in repa�.ring or rebuilding said improvements, or to be applied upon that
<br /> portion of the principa.l of the purchase price la.st becoming due and payable� at Buye�' s election.
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