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AGREEMNOT,EOR UIZ OE UAL
<br />ESTATE
<br />THIS AGREEMENT entered into this day of March,, 1959,
<br />between CLARENCE B. LUX, hereinafter called "seller" and ELTON W.
<br />LUEBS, hereinafter called "purchaser", WITNESSETH.*
<br />The seller agrees to sell and the purchaser agrees to purchase
<br />certain premises situated in Hall County, Nebraska, and described
<br />,as the Northeast Quarter of the Southwest Quarter (NE14.SW4') and Lots
<br />One (1) Two (2), and Three (3), in Section Thirty-six (36), Township
<br />Ten (10 ) North, Range Eleven (11), West of the 6th P.M., containing
<br />176 acres, a little Range
<br />or less, according to government survey,
<br />and including all real estate owned by the seller in said section.
<br />no-
<br />Included in the sale as a part of said premises are all improve-
<br />1-fients now existing on said premises and purchaser acknowledges that
<br />all of such improvements which are to be included have been fully
<br />gone over by him and that he fully understands what improver.nneilts he
<br />will receive as a part of the purchase of said prer!,ises.
<br />The purchaser agrees to pay as consideration for said premises,
<br />with improvements hereinabove refer-red to, the sum of Twenty-two
<br />Thousand RY, No/100 Dollars (422,000.00.1 of which amount Six Thousand
<br />Five Hundred& No/100 Dollars (46,500.00) 500.00) has been paid to the
<br />seller, receipt whereof is hereby acknowledged. The balance of the
<br />purchase price of Fifteen Thousand Five Hundred & No/100 Dollars
<br />(4,15,500.60) shall draw interest at the rate of 5% per annum on
<br />said amount and decreasing principal balances, said interest to be
<br />paid annually, with the first interest payment due March 1, 1960.
<br />In addition to said interest payments the purchaser agrees to lake
<br />annual payments on the principal on March 1 of each year cominericing
<br />March 1. 1960,in installments of not less than Three Thousand & No/100
<br />Dollars (4`3,000-00) or more than Four Thousand & No/100 Dollars
<br />U"4,000.00) an any principal payment date, until the full principal
<br />C41 C, A �t 0-AL, (X41,V a C, 0 C,
<br />balance has been paid.
<br />ell 0
<br />At the time the Jitire principal balance, with all accrued interest,
<br />has been paid a deed executed by the seller and placed in escrow as
<br />hereinafter provided shall be delivered to the purchaser. Purchaser
<br />shall have possession of said premises commencing March 4, 1959, The
<br />abstract of title to said premises shall be immediately extended and
<br />certified to date and delivered to purchaser for examination by his
<br />attorney. If any defects in the.title are found, the seller shall
<br />have a reasonable time in which to correct such defects and shall use
<br />reasonable diligence to remove any title defects.
<br />Upon execution of this agreement a deed executed by the seller
<br />to the purchaser, together with the abstract, (after the same has been
<br />examined and approved) and all insurance policies as hereinafter
<br />provided shall be placed in escrow with the Overland National Bank
<br />of Grand Island, Nebraska, together with one fully executed copy of
<br />this agreement. All payments of interest and payments on principal
<br />commencing with the payment due March 1, 1960, shall be made by the
<br />purchaser at said bank and said bank shall thereupon remit the full
<br />amount of principal and interst so paid to the seller at such address
<br />designated in writing by the seller. Upon final payment of the balance
<br />due on the purchase price as herein provided together with any accrued
<br />interest and other charges that maybe due or become due hereunder,
<br />said escrow agent shall .purchase sufficient revenue stamps to be
<br />affixed to the warranty deed, and said deed, abstract and insurance
<br />policies shall be delivered to the purchaser. The charges of the
<br />escrow agent shall be paid equally by the seller and the . purchaser. In
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