|
. �, _ . .. . r �
<br /> . .��-� .. (t02 � £i � - 3 -
<br /> � duplex `. That the total improvements upon all of the above described
<br /> 4 +`< ' property consists of seven brick veneer duplexes with appurtenances , I
<br /> "�F� all o£ which are classified as rental property and let out as family
<br /> �� �
<br /> ' � living units , yielding, income to TRANSFEROR .
<br /> ,
<br /> ,;, , That TRANSFEROR was born January 12 , 1913 , and as of January 1 ,
<br /> ` '_ 1978 ,' is 65 years of age and desires to be free of the responsibilities
<br /> '�� of managing said rental property and desires to be assured of a fixed
<br /> ,: , ::
<br /> s :
<br /> annual income for the remainder of his Iife , regardless of whether such
<br /> ' property is occupied and regardless of whether or not the lessees o � the
<br /> , , ,
<br /> � ` separate units pay their rent in accordance with the terms of the various
<br /> rental agreements . -
<br /> The total inarket value oE the aforementioned property is
<br /> � $ 350 , 000 according to an appraisal made by A . L . Horn , dated December 12 ,
<br /> 1977 . There are currently mortgages against the property in the amount '
<br /> _ of $ 34 , 181 . 39 . TRANSFEROR ` s basis in the property is $ 129 , 896 . 07 .
<br /> The � partners of TRANSFEREE , who are the Four natural daughters
<br /> �;_ :� �
<br /> , , . oP TRANSFEROR , and their respective spouses , have a special interest in
<br /> � .
<br /> J ,�.� said property and desire to acquire the same as an investment , and
<br /> ` �` consequently , TRANSFEREE is willin� to pay TRANSFEROR a fixed amount
<br /> ' ` for the remainder o £ TRANSFEROR ` s life in exchange for said property . ��m ^
<br /> ; . : ,
<br /> � - NOW , THEREFORE , £or and in consideration of the mutual promises
<br /> made by each party to the other and of the mutual agreements contained
<br /> �.� herein , the parties hereto agree with each other as £ollows : to-wit :
<br /> tE 1 . TRANSFEROR st�all as hereina£ ter provided execute
<br /> t,� ' and deliver to TRANSFEREE a good and su= ficient
<br /> ��; warranty deed conveyin� all of his right , title
<br /> and interest in and to the above described real
<br /> ; ` � estate in Hall County , Nebraska , and 'rRANSFEROR
<br /> i� � : ' sk-►all pay all costs in connection with the prepar-
<br /> � i , ation of the deed and the transfer tax due on the
<br /> � :. trans act ion ;
<br /> qv
<br /> ;� r 2 . That the mortgages above referred to in the amount
<br /> � of $ 34 , 181 . 39 sha11 remain the obligation of
<br /> t.r �'-�_ .: . � �. � �'_ TRANSFEROR who sha11 make payments thereon as
<br /> ', .' the same become due and account to TRANSFEREE
<br /> � �� . . quarterly regarding the status thereof . The
<br /> ' r . annuity payment hereinafter provided is based
<br /> �, upon the total fair market value of the property
<br /> appraised as above mentioned as well as TRANSFEROR ` s
<br /> 5= age . TRANSFEREE does not assume and agree to pay a
<br /> �,, "
<br /> �.� , , , such mortgages ; -�
<br /> ���' '`` 3 . In exchange for such conveyance referred to in � �'� ' ;
<br /> "'"9 ' , ` � subparagraph l above TRANSFEREE does hereby "� "
<br /> % x ' agree to take title thereto and in consideration
<br /> . ,,
<br /> ` ' " there.£ore pay TRANSFEROR the sum of $ 3 , 533 . 68 ' �
<br /> �' `� , c each month for the remainder of TRANSFEROR ' s li £ e , � -�%`� ':
<br /> �,.�<iv , �v-. . , r_ ,, commencing January l , 1978 , with the first such `
<br /> * „�„ . �;, .. ;. , ' . . �
<br /> ;,� , --�� .. : .
<br /> � � ,
<br /> , x°�k , : �
<br /> , ,
<br /> , . ���. - ,
<br /> �: ,
<br /> x�' .
<br /> -� . �
<br /> r,�. ., r;;au.�
<br /> -,t;. .� -�;,, „ � �
<br />
|