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,y• f:', 76- 000889 's: CONTRACT FOR SALE OF REAL ESTATE �` THIS AGREEMENT, made and entered into by and between DEAN R. ERICKSON and NAOMI J. ERICKSON, husband and wife, as joint tenants with right of survivorship and not as tenants in common, hereinafter "4. called the Sellers and GERALD J. GRAY, hereinafter called the Buyer, 11_ %-aTNESSETH: L;: '` That Sellers hereby agree to sell and convey to Buyer and Buyer „:, hereby agrees to purchase from the Sellers the following described `'; real estate in Hall County, Nebraska, hereinafter called "the real estate": f: Lot Two (2) in Block Sixteen (16) in Arnold and Y'' Abbott's Addition, and its complement, Lot Two (2) in Block Two (2) in Spaulding and Gregg's Addition, both being additions to the City of Grand Island, s 1L.Lt County, Nebraska. I', upon the following terms and conditions: t` I. The Purchase Price and Manner of Payment 04;- 1. As the purchase price for the real estate, Buyer agrees to pay to Sellers and Sellers agree to accept from Buyer the sum of Twenty five Thousand and No/100 Dollars ($25,000.00). 'i , 2_ The purchase price shall be paid in the following manner: fi• (a) On closing date, the Buyer shall pay the sum of Six Thousand Twenty Four and 57/100 Dollars ($6,074.57) to the Sellers. '67:', (b) The balance of Eighteen Thousand Nine Hundred Seventy Five and 43/100 Dollars ($18,975.43) shall be paid in equal monthly installments of $157.86 payable on the first day of each month until 4f the purchase price has been paid in full. Said monthly payments of $157.86 include interest computed at the rate of 8 3/4 per cent on the unpaid principal balance. II. Taxes, Possession and Insurance sI. Sellers agree to pay the general taxes on the real estate for 1975 and all prior years and Buyer agrees to pay the general ttaxes on the real estate beginning with the taxes due for the "' year 1976 and all subsequent years. 2. Sellers agree to place Buyer in possession of the above ' described real estate on the closing date and the closing date shall 4 be on or before March 1, 1976. 1 3. Buyer agrees that if he shall fail to pay before they become fi delinquent, any taxes against the real estate for the year 1976 or any subsequent year, Sellers may pay said taxes and the amount so 4 paid shall become due and payable forthwith by the Buyer to the SeLlers without notice or demand and shall become a part of the principal due under this Contract. • 4i ) ti -1-