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MAR 1 4 2002 201402481 PURCHASE AGREEMENT Zt NI 0 7 ` : CFV'SAGREEMENT, made and entered into this 26th day of June, - ""19�9 . 7; by and between Eugene W. Jeffres, a single person, hereinafter; _< 14 referred to as "Seller ", and Frank Villa and Dianna Villa, a husband and wife, with right of survivorship, hereinafter referred to as "Buyers." WITNESSETH: That the Seller hereby covenants and agrees that if the Buyers shall first make the payments and perform the covenants, hereinafter mentioned, on his or their parts to be made and performed, the Seller will convey to the said Buyers, a good and sufficient CERTIFICATE OF TITLE, the following real property: 1973 Flamingo trailer home VIN # XGB229769 hereinafter referred to as the "mobile home." Buyers covenant and agree to pay the amount of ELEVEN THOUSAND DOLLARS ($11,000.00) for said mobile home to the Seller. The purchase price shall be paid in amounts as follows: (a) ELEVEN HUNDRED DOLLARS ($1100.00) shall be paid to Seller upon signing of this agreement as a down payment. (b) The remaining balance of NINETY NINE HUNDRED DOLLARS ($9,900.00) shall be paid in monthly payments at a rate of TEN (10 %) percent interest per annum and amortized for a period of ten years. The first payment is due August 1, 1997 with final payment to be made on July 1, 2007. All payments are payable to the Seller at his address of PO BOX 105, SCOTIA, NE 68875, or such other place as the Seller may designate in writing. It is further agreed by and between the parties hereto as follows: (2) PERSONAL PROPERTY TAXES: Seller shall pay all personal property taxes for 1996 and all prior years thereof, and all taxes assessed on the mobile home subsequent to closing date, 1997 shall be the responsibility of Buyers. The Buyers shall be notified of the amount of taxes due and payable for each year and the same shall.be paid by the Buyers in equal monthly installments to Seller. 3) CERTIFICATE OF TITLE: The original Certificate of Title is to be held for the term of the contract in escrow at Overland National Bank, Grand Island, NE in a safety deposit box, to be delivered upon full compliance of this agreement. In the event of default by the Buyer in any of the obligations binding them hereunder, after Buyer has had fifteen (15) days notice of such default and have failed to remedy the same, at the request of the Seller, the Seller may pursue appropriate legal or equitable remedies. 4) INSURANCE: Buyers agree to procure and maintain in force during the period of this agreement, and any extension thereof, at their expense, standard fire and extended coverage insurance on the premises in the amount of at least $11,000 or equal to the insurable value thereof. Any policy of insurance required hereunder shall contain a loss payable clause and the parties' interest shall appear hereunder. Page 11 of IS