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CONTRACT AND W.MISIM <br />THIS AGREENENT made and entered into this 3 day of <br />November, 1957, but to be considered as being a fictive as <br />of the 1st day of March, 1957, by and between Elmer A. Larsen <br />and Evelyn Larsen„ husband and wife, of Cairo, Hall County <br />Nebraska„ as vendors, and Leola Wilke, of Grand Island, Hall <br />County, Nebraska, as purchaser. <br />WITNESSETHt That the vendors sell and the purchaser <br />agrees to buy the following- described real estate, to -wit: <br />Lots Four (4) and Five (5), in Block Thirty (30), <br />Packer & Barrts Znd Addition to the City of Grand <br />Island, Nebraska, <br />together with all appurtenances thereunto belonging and now <br />thereon, subject to any restrictions or easements of record <br />against such real property. <br />The purchaser agrees to pay to the vendors the total sum <br />of Seven Thousand Dollars (17,000.00) with interest thereon <br />at the rate of 5# percent per annum to be paid to the vendors, <br />their heirs or assigns, at such place as they may designate, in <br />monthly installments of Sixty-five Dollars (S65,00) per month, <br />such payments to be made on the first day of each and every <br />month until the total purchase price, with interest, and such <br />sum as the vendors may pay for taxes and insurance, is paid <br />In full. <br />IT IS UNDERSTOOD AND AGREED that out of each monthly pay- <br />ment, the vendors shall first set aside a sure which shall be <br />equal to one - twelfth (112) of the real property taxes levied <br />and assessed against the premises for the preceding tax year, <br />such suss to be accumulated by the vendors an,,. to be used to <br />pay the real property taxes as the same shall become due, In <br />the event that such sure is insufficient to pay such taxes then, <br />and in that event, such additional amount as may be needed <br />to pay such takes shall be first deducted from the monthly <br />payment during the month when such taxes become due and payable. <br />In the event such sum is in excess of the amount needed to pay <br />such taxes, then, and in that event, the purchaser shall receive <br />credit on the principal for any excess. The vendors shall next <br />deduct from each monthly payment the interest on the balance <br />of the principal then due, and shall apply the balance of such <br />payment upon the principal amount due under this contract. <br />IT IS FURTHER UNDERSTOOD AND AGREED that in the event <br />there shall be any special assessments levied and assessed <br />against suchteal property that then, and in that event, the <br />vendors shall accumulate a fund to pay the same in the same <br />manner as above provided for the real property taxes. <br />IT IS FURTHER UNDERSTOOD AND AGREED that the purchaser <br />shall have the privilege on any installment date hereunder, of <br />paying the additional sum of Fifty Dollars ($50.00) or any <br />multiple thereof upon the unpaid balance of such purchase price. <br />IT IS FURTHER UNDERSTOOD AND AGREED that the vendors will <br />submit to the purchaser an abstract of title certified to <br />date and that the purchaser shall have a reasonable time from <br />the date of this contract within which to approve the merchant- <br />ability of the title of the vendors in such real estate. <br />The vendors further agree that upon the payment to them, <br />their heirs or assigns, of the full purchase price with interest <br />and advances, if any, for taxes and insurance, that the vendors <br />