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the Sellers shall be unable to remove such title defects# then any
<br />payments made under this agreement shall thereupon be refunded and
<br />all obligations of the parties hereto shall terminte and this agreement
<br />shall be deemed void without recourse to either of the parties hereto.
<br />Upon execution of this Agreement a deed executed by the Sellers
<br />to the Purchasers, together with the abstract, (after the sarcie has been
<br />exa--.ined)* and all insurance policies as hereinafter provided shall be
<br />placed in escrow with the Overland Vattnal Bankcf Grand Island, Nebraska,
<br />with one fully execute;J copy of this agreement. Al" ' paymert s
<br />interest nterest and payments on principal after May 1, 1959, shall be mace
<br />b- the Purchasers at said bank and proper credit shall be given on the
<br />total purchase price. The principal and interest due May 1# 1959, shall
<br />".-e paill to Marvin Lautenschlage.r as hersinabove prov' iled. Upon payment
<br />off' t' lie balance due on the purchase price as herein provided, said
<br />escrow agent shall purchase sul"ficient revenue starips to be affixed
<br />"'C', the warranty deed, an W. sai;;' deed, abstract and insurance policies
<br />.ali be •ielivered to the ;-ur-hasers. The charges of the escrow agent
<br />sliall ',)e paid equall-, by the Sellers and the Purchasers. In t1ae event
<br />:) ,Jr the Purchasers, then, aftev sixt., (60) days notice to the
<br />Purchasers, or any on of them, at their last knc;wn adaress, jy -�-egiztereu
<br />4 A
<br />.-ail, the Sellers shall be entitle,-- to have said desu, abstract and
<br />insurance policies receliveret' to thwu and the Purchasers agree to
<br />vacate and surrender possession of said premises to the Salle. s. In
<br />that event the Sellers shall Oe antitlec, to retain all paynentt3 c',f
<br />principal an;; interest made here.inder by the Purchasers as liquic ate',l
<br />uama-es ana rant.
<br />ob
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<br />The Sellers agree to pay all real estate taxes for the yea- 19,-8
<br />arv, thereafte-1, & ch taxes and assessments shall ire r,.iade by the 11",urchabers.
<br />The prer-ises shall be conveyed to the Pur csha.sers free aLu
<br />c-"' all liens anu encumbrances including such real estate taxes CU'r
<br />The ueau shall be a standar-," warranty deed conveying the prei-,iisea to
<br />ti;s Purchasers as tenants in common.
<br />, I
<br />,,c,•mencilng NarcIA IL, 19:)9, Pardz ers agree to maintain irsurance .4v
<br />he inimun-, 8,ns of 46,000.00 on the hoL►se, t2;500.00 on the barn,
<br />00 on " the �Iouble garage, $1,200*00 on the woud�en corn c,ib ank�
<br />anc! ;5OQ.00 on the hog ijarn. Such insura-Y-c-c,, shall be ^,-or Ii .-e
<br />a—c;. extencied coverage and shall be carried and maintained in a company
<br />)anies satisfactory to the Sellers. In cas'a of 1058 any P-oceeas
<br />k:'e-1-ve'd fvor, such insurance shall be applies on the puvehase
<br />�ytlees usetJ. 6y Purchasers for restoration of the iz-�provarents.
<br />shall contain a sufficient endorse!jent proviL,.ing procae;116 ea e
<br />i:,,c ")ayable to the parties as thei• interest may appear. In 1'he event,
<br />%.H^Isjts &1 Lc� -r.-iaintain such insurance in the minimum az,loiAnt6 as � herei-n
<br />yet J'crth shall 'ail to pay premiums after the sai-e becom.c
<br />shall have the option of maintaining such insurance airs
<br />ti ,e pl,emium3s an(:, if the Purchasers fail to repay an,", E, L)
<br />-':e'Lllers wthin thirty (30) da-,:s a�'ter written (Alemand' is �;ac�e cri �,Ihe
<br />o any one of theni, at t'�,eir last �-Yiown address,, t,`se sw,e
<br />i
<br />Qonst*' tlAte a breach of the terns an�A CcrJ..`!J-4cns of this 'C0r1t2:'aC'(.'
<br />r 1"14e manner as i,f the Purlhaaes,s had failed to ma=ce a pwr, ent on
<br />'L.-;te.-ast and principal as hereinabove provided. The Sellers s 1&11
<br />rya s 1_ai;e tile right to pay xeal estate taxes assessed against. tAhcl
<br />coriaencirlg with the year 1959 in the event Purchasers fat!
<br />pay the same before they becore delinquent and the &,mount so paid shall
<br />constitute an. additional lien against the interest of the Pu-k°chasers in
<br />tote praxises and paynent thereof may 11.-)e made in like Manner as he•'s-'r,
<br />prcvL ed with reference to insurance.
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