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on January 2, 1959, and at the time of the taking of possession and <br />the purchaser agrees to pay to the sellers an amount equivalent to <br />the unused portion of the premium on such policies. <br />The abstract of title to said premises shall be immediately <br />extended and certified to date and delivered to the purchaser for <br />examination by his attorneys. If any defects in the title are found, <br />the sellers shall have a reasonable time in which to correct such <br />defects and shall use reasonable diligence to remove any title defects. <br />In the event sellers shall be unable to remove such title defects <br />and the purchaser will not accept title without the same being <br />removed or corrected, then any payments made under this agreement <br />shall thereupon be refunded to the purchaser and all obligations of <br />the parties hereto shall terminate and this agreement shall be deemed <br />void without recourse to either of the parties hereto. <br />This agreement shall be executed in triplicate, one copy to <br />be retained by the sellers, one copy by the purchaser, and the third <br />copy shall be deposited together with a warranty deed executed by <br />the sellers to the purchaser in such manner as the purchaser may <br />request which shall be placed in escrow with the Overland National <br />Bank of Grand Island, Nebraska. The insurance policies on the premises <br />shall be properly endorsed and deposited with said escrow agent as <br />soon as can reasonably be done and the abstract, after the same has <br />been extended and examined and approved, shall likewise be deposited <br />in escrow with the Overland National Bank. All payments of interest <br />and - payment on principal shall be paid by the purchaser to said bank <br />and proper credit shall be given on the total prchase price. Upon <br />paymnt of the balance due on the purchase price as hereinabove <br />provided, said escrow agent shall purchase sufficient revenue stamps <br />to be affixed to the warranty deed, and said deed, abstract and <br />insurance policy shall be delivered to the purchaser. The charges <br />of the escrow agent shall be paid equally by the sellers and the <br />purchaser. In the event of default by the purchaser, then, after <br />15 days notice to the purchaser at his last known address by registered <br />mail, the sd.lers shall be entitled -to have said deed and abstract and <br />insurance policies redelivered to them if purchaser is then still in <br />default and the purchaser agrees to vacate and surrender posses3on of <br />said premises to the sellers. In that event, the sellers shall be <br />entitled to retain all payments made hereunder by the purchaser as <br />rent and liquidated damages. Any improvements of a permanent nature <br />made on the premises by the purchaser shall become a part of the realty <br />and shall remain on the premises. <br />The sellers agree to pay ,,all real estate taxes for the year <br />1958 and prior years and thereafter such taxes and assessments shall <br />be paid by the purchaser. All insurance premiums shall be paid by <br />the purchaser from and after the time possession of the premises is <br />taken. In the event purchaser defaults in the payment of taxes or <br />insurance premiums as the same become due, the sellers shall have the <br />right to pay such premiums or taxes and the amount so paid shall be <br />an additional indebtedness from the purchaser to the sellers and such <br />amounts, together with interest computed at the rate hereinabove set <br />forth from the date ofupayment by sellers shall be added to the amount <br />due for interest and principal on the following January 2 payment. <br />The premises shall be conveyed to the purchaser free and clear <br />of all liens and encumbrances including such real estate taxes for 1958. <br />The deed shall be a standard warranty deed and sellers agree to execute <br />the same to the purchaser or to such person or persons as purchaser <br />may direct and in the event purchaser requests conveyance to himself and <br />any other person or persons as joint tenant with right of survivorship, <br />then in the event of the death of the grantees, or either of them, <br />designated in such deed, the entire fee simple title to the real estate <br />described herein and all rights under this contract shall vest in the <br />survivor of them, subject to compliance by the survivorwith all other <br />terms and conditions of-this agreement. <br />f,..,. ,,&:::,.� .._ 1 ......2�, ar <br />