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& -- R E E M E N T -- - - ---- - THIS AGREEMENT made and entered into this day of December, 1957, by and between Bertha G. 5mi and Floyd Smith, wife and husband, each in his and her own right and as spOuse of the other, Parties of the First Part, and Joe L. Shay, Party of the Second Part, WITNESSETH; That the Parties of the First Part have this day sold to the Party of the Second Part, the following described property, to -wit: Lot Three (3) of the County Subdivision of the Northwest Quarter (NW/4) and the West Half of the Northeast Quarter (WY, -NEY4) of Section Five (5), Township Ten (10) North, Range Ten (10), West of the 6th P. M., since February 25, 1903, but including entries 8 to 28, inclusive, prior thereto, in Hall County, Nebraska, together with all appurtenances thereto belonging, for which the Party of the Second Part agrees to pa the sum of Two Thousand Five Hundred Dollars ($2,500.00 , ayable as follows, to -wit: Five Hundred Dollars ($500.00 cash in hand paid, the receipt of which is hereby acknowledged, and the balance, Two Thousand Dollars ($2,000.00), payable as follows: $38.34 on or before January 1, 1955, and $38.34 on or before the first day of each month thereafter for a period of sixty (60) months, with the last payment to be made on or before December 1, 1962, the said payment of $38.34 to include interest at the rate of six per cent (6;1) per annum, payable monthly, on the declining balance plan. From ea4h-- payment - made._ thrr e-- stra-1- 17--first- tre-d--du -tt- e,d-- inie-r -e-st - -on- --t-he unpaid --principal from the- date -of the last- payment, -- and - the - -balance credited to -principal. IT IS AGREED that if said payments are made promptly when due and said sixty total payments will pay the prin- cipal and interest in full. An option is hereby given to the Second Party to pay any part of the principal re- maining unpaid on any interest payment date, in multiples of $100.00, in which event the principal will be reduced accordingly and interest will cease on said amount so prepaid, and the subsequent payments reduced proportion- ately. Each installment not paid promptly when due shall draw interest at the rate of eight per cent (8%) per an- num from the date due until paid. In the event of the failure to hay any one or more installments promptly when due or within thirty (30) days thereafter, then the First Parties, at theiYoption, may elect to treat the entire balance of principal and interest unpaid as due forthwith in which event the same shall draw interest at the rate of 8; per annum after the date of said election and the First Parties may immediately resort to strict foreclosure of this contract, or for other equitable relief. A signed copy of this Contract, together with a Warran- ty Deed to the premises, shall be deposited in escrow with _ The First State Dank, Shelton, Nebraska.. All payments are to be made at said Bank to the crecd t of Bertha G. Smith, endorsed upon the Contract. When payments are made in full said Bank shall deliver the Deed to the Second Party, or his order. The Abstract of Title has been extended to date. The Second Party may have the same examined at any time during the term of the Contract, and the First Parties agree that they will correct any defects in the title as of this date -that may render the title not mar- ketable. Possession is to be given upon the payment of the first payment due January 1, 1958. The Second Parties agree that they will keep said premises insured, with a loss payable clause to the First Parties and the Second Party, as their respective interests may appear, for an amount not less than the principal remaining unpaid on this Contract.