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TERM AND EXTENSION: The term of this agreement shall be twenty (20) years from <br />that date hereof. This agreement may be extended for an additional five (5) years by <br />Follmer paying Pearson, in cash, an additional sum of $10.00 prior to the expiration of the <br />initial term. <br />EXPENSES OF SALE: All costs and expenses of the sale including attorney's fees, <br />recording fees, and any and other costs attributable to the preparation of the Warranty <br />Deed, Commitment for Title Insurance, Escrow Fees and /or Closing Fees shall be paid <br />equally by Pearson and Follmer at Closing. <br />VIII. <br />POSSESSION: Follmer shall be entitled to possession of the property at Closing. <br />IX. <br />RIGHT OF ENTRY: Upon notification by Pearson of his desire to sell and Follmer's <br />exercise of his first refusal, Follmer shall be entitled to enter upon the property for the <br />purpose of conducting soil tests, engineering studies, and surveys. <br />X. <br />TAXES: Taxes shall be prorated as of the date of Closing. <br />XI. <br />DEFAULT: This agreement shall be binding upon and inure to the benefit of the heirs, <br />administrators and assigns of the parties hereto and upon default in any of the terms of <br />this agreement the defaulting party agrees to pay all costs of Court and a reasonable <br />attorney's fee. <br />GOVERNING LAW: This agreement shall be governed by the laws of the State of <br />Nebraska. <br />IN WITNESS WHEREOF, the parties have executed this Agreement on this the <br />day of , 2014. <br />Ronald L. Follmer <br />Stacvl L. Pearson <br />VI. <br />VII. <br />XII. <br />2014..05491 <br />Page 3 of 4 <br />