201203737 - Laserfiche WebLink

Browse

2Ui2U373� 3. NOTICE OF EXERCISE. This option is to be exercised by the OPTIONEE by delivery of the down payment amount and a signed purchase agreement reflecting the provisions of this agreement and identifying the real property being purchased. This option sha11 be exercised not later than six (6) months after receiving written notice from the selling party identifying the part or portion of the said real estate being offered for sa1e. 4. PURCHASE PRICE. The purchase price for the said real estate shall be as mutually agreed upon by the selling party and the OPTIONEE within sixty (60) days of the receipt of the written notice from the selling party. In the event the parties are unable to reach agreement within such time period, the parties shall mutually agree to select an appraiser to establish the fair market value of the property (without any reduction in value for fractional share ownership). The appraiser shall be licensed to appraise real estate under the laws of the State of Nebraska and the cost of the appraiser shall be paid equally by both parties. In the event the parties are unable to agree upon the selection of a licensed appraiser within thirty (30) days thereafter, the OPTIONEE and the selling party shall immediately each select a licensed appraiser and the average of the two (2) appraasals sha11 establish the purchase price. Each appraiser shall provide their appraisal within sixty (60) days of their selection and in no event later than thirty (30) days prior to the expiration of this option. Each party shall pay for the cost of their own appraiser. 5. TERMS OF PURCIiASE AGREEMENT. If the option is exercised as provided herein, the terms of the purchase agreement to be executed by the parties shall provide as follows: (a) The person or persons then having power to convey the said real estate shall sign warranty deed(s) and convey all of their right, title, and interest in and to the said real estate to the OPTIONEE, free and clear of all liens and encumbrances. The spouse of any such conveying person or persons shall also be bound to sign and convey all of his or her share of such property to the OPTIONEE. Delivery of such deed(s) sha11 be made at closure. (b) The selling parties shall furnish a title insurance commitment, to be paid one-half ('/z) by each party, showing good and marketable title to said real estate in the name of the selling parhes. (c) The down payment amount shall be ten percent (10%) of the purchase price. (d) The OPTIONEE shall pay the balance of the purchase price at final closure. (e) Final closure shall be within sixty (60) days after the exercise of the option set forth herein with the cost of any closing agent, if any, to be pasd one-half ('/2) by each party. (� The OP�ONEE shall have possession of the said real estate upon final closure subject only to the rights of any tenants in possession. (g) The real estate taxes on the said real estate for the year of the exercise of the option shall be paid by the party entitled to the landlord's share of any rent or rents for that year. All subsequent yeazs real estate taxes shall be paid by the OPTIONEE. 6. ASSIGNMENT. This option and all rights hereunder sha11 not be assignable by the Graham children, without the written permission of the Graham parents, or the survivor of the Graham parents. 7. BINDING EFFECT AND BENEFITS. These options sha11 be binding upon and shall inure to the benefit of the parties hereto and their respective heirs, successors, personal representatives, and assigns. IN WITNESS, WHEREOF, the Graham parents have executed this agreement onMay �, 2012. (T�..� �.��- � �. Paul E. Grahara Elaine . Graham PARI�R, GROSSART, BAHENSKY, BEUCKE & BOWMAN, L.L.P. 2 1516 FIRST AVENUE, KEARNEY. NE 68647