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said described premises, to the Second Party, said abstract to <br />show'a marketable title in First 'Party; If said abstract does <br />not show a marketable title in First Party, First P artyshall <br />have a reasonable time within which to perfect the title. Said <br />abstract shall be held thereafter in escrow by The Grand Island <br />Trust Company, of Grand Island, Nebraska; that the conveyance of <br />said property to Second Party shall be free and clear of all liens <br />and encumbrances, and First Party or her personal representative <br />shall pay for the necessary revenue stamps on said deed of convey- <br />ance. <br />(3) The real estate taxes upon said property which become <br />due after the death of First Party, or upon termination of this <br />Contract and Agreement, whichever may sooner occur, shall be the <br />responsibility of Second Party. <br />(4) The Second Party shall have the right to raze and remove <br />any buildin6 or improvement now upon said property, and shall have <br />the right to erect any building or improvement thereon without <br />first securing the consent or permission of the First Party. <br />(5) If First Party should desire to have any part of the con- <br />sideration up to but not exceeding one -half of the total considera- <br />tion herein named in this Contract and Agreement, during her life <br />time, the parties agree that First Party may obtain loans from <br />Second Party for Five Thousand Dollars ($5,000.00) or 'multiples <br />thereof, at the rate of three percent interest per annum, with the <br />consideration held in escrow to be collateral for said note or <br />notes, and with payment of said note or notes with interest to be <br />made from the escrow consideration at the time.said consideration <br />is paid in accordance with the terms of this agreement. It is <br />further agreed that should First Party desire to take all of said <br />consideration during her lifetime, she shall have the right to <br />elect to do so, and the escrow agent shall deliver the considera - <br />tion to First Party and the deed and abstract to Second Party; such <br />election would also terminate the separate 'lease agreement involv- <br />ing thisproperty which is in.existence;by and between the parties. <br />The escrow costs, if any, shall be paid by the' S'econd'Party. <br />Y <br />Z <br />