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<br />of a'rand
<br />1'. s1 ' d, Nebraska, a ,�"arranty Deed to ° "arid premises x
<br />to the s'eco 'd party in escrow, wath a copy 0, , thi"s contract,
<br />" wtth' instru {atzons torfsazd Bain to dieZiver:: the same to the
<br />seconds party rohen the contraetsshall have been complied'with.
<br />9. This contract is based ` "upo'n the confidence `of the
<br />; first "'party �'tn the' �second party. In the event the second '
<br />party `sha11�' die or become mentally incompetent during the
<br />di rki
<br />te'r of t,hzs ",,contract, the parties hereto shall have -the:
<br />fo1l,owing op "bons:
<br />(� the first party shall have one year; within
<br />which to pay the estate" of the second party,
<br />o:r his' assigns, the, sum Hof ,1000.00 for each
<br />Year 'that said full #3000.00 payments have
<br />been made,. ~in which event all rights of the
<br />second party and his estate shall immediately
<br />eaase and determine, and the second party, his
<br />heirs, executors, administrators and assigns
<br />agree to surrender possession of the premises not
<br />later than "the 'first _of;;Yarch succeeding the death
<br />of said second party or his mental incompetency.
<br />(b) If the death of the second party, or his mental
<br />incompetency occurs after ten full payments have
<br />been made, then the estate of the second, party
<br />have an optic n to continue comply
<br />shall h ing with
<br />the terms of this contract =exactly the same as
<br />the second party is required to do, or to: termi-
<br />nate said contract forthwith, in which event
<br />there shall be no obligation on the part of the
<br />first party to restore any sum of money whatever.
<br />20. Time is hereby made of the,essence of this contract.
<br />21. The party of the second part agrees that he will make
<br />the payments required to be made promptly when due; that any
<br />payment not made promptly when due shall draw interest at the
<br />rate of 7% per annum from the date when due until paid; that
<br />in the event of the failure to pay promptly when due, or within
<br />six months thereafter, .then the first party may, at her option,
<br />declare the entire amount of the principal payments, to- wit,
<br />the sum Of, 01000.00 per year for the remainder "of the twenty
<br />(20) years and the x`10,000.00 to be paid at. the end of the t
<br />twenty (20) years,, due and payable fo.rthwith," and shall have
<br />a right to foreclose this contract for the same., in which, event
<br />the second party agrees thdt.,- h&ewa,ll_,.st�rrend+ rppssess. on�of
<br />said premises, time being of the essence, not "]rater than the
<br />first of March of the year for which no payments are made,'and
<br />upon his failure so` to do, the first party may have a.receiver
<br />appointed.
<br />22. At the option of the first party, which option must
<br />be exercised by the delivery to the second party, his heirs,
<br />executors3 administrators and assigns, of a notice in writing
<br />o her intention to exercise--the option not less than three
<br />1 months prior to the date when any payment to be made more
<br />than ive years from the date hereof, is to be made, including
<br />$he 10,,000.00 payment to be made atthe end of the 20"years,
<br />the second party shall deliver to the first party at any place
<br />to "be 'selected by the °;first ; party in Grand Island, Nebraska,
<br />900 bushels instead of. said, 3000.00:payments, and 3000, bushels
<br />instead of said #10,000 payment, of No: 1 dark, hard Northern
<br />spring wheat. In the egen_t said` "g "rage of wheat is not obtain -
<br />able in Grand Island,- Nebraska, the second"party will deliver
<br />either grade No. 1 or No. 2 of wheat raised in this territo "ry,
<br />the amount thereof "to be increased. in proportion as the price
<br />y "
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