201607377 - Laserfiche WebLink

Browse

1. PROPERTY 3. CONDITION OF PROPERTY LAND CONTRACT G) CAD THIS LAND CONTRACT (this "Contract") is hereby made and entered into on April 30, 2015 (the "Effective Date ") by and between J & B RENTALS, L.L.C. of 1611 Saint Paul Rd., Grand Island, NE 68801 ("Seller") and Carlos E. Lucas and Snowy A DE Lucas Husband and Wife dt 1104 Wes!9th Street; Grand Island, NE ("Buyer?), collectively referred to herein as the "Parties" and individually as a or the "Party". WITNESSETH, Seller, for itself, its heirs, and assigns, does hereby agree to sell to Buyer together with all appurtenances, rights -of -way, privileges,, easements, and all buildings and fixtures in their present condition located upon the Property described below. Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, upon the following terms and conditions, the real estate, improvements, fixtures, appurtenances, commonly known as: 1104 West 9th Street, Grand Island, NE 68801. The legal description of which is as follows: Lot Ten (10) and the east 5'8" of Lot Nine (9) in Block fifteen (15) Fairview Park Addition to the City of Grand Island, Hall County, Nebraska (the "Property "). 2. PRICE AND PAYMENT 2.1 The Purchase Price for the Property shall be Eighty Thousand Dollars ($80,000.00) payable as follows: Five Thousand Dollars ($2,000.00) on execution of this Contract and the balance of $3,000.00 plus the first months ,payment of $883.62 will be due at the time of closing., receipt of which is hereby acknowledged 2.2 The balance of Seventy -Five Thousand Dollars ($75,000.00) shall be paid in installments of Six Hundred Seventy -Four and 12/100 Dollars ($674.12) per month (which includes the principal and interest) payable to Seller on or before the 1st day of each month commencing on May 01, 2015 and continuing until such time as the full amount of said purchase price has been paid. interest at the rate of Seven Percent (7 %) per annum shall be paid on the remaining unpaid principal balance. Each such installment, when received by Seller, shall be credited first to the payment of the interest on the remaining unpaid balance due on the date of receipt of such installment and then to the reduction of the unpaid principal balance. If payment is not received by the 5th day of each month, there will be an additional Twenty - Five Dollars ($25.00) late fee charge added to that month's payment. 1.1. Buyer may prepay all or part of the balance amount of the principal and interest at any time, without any penalty, and without notice. Such prepayment shall not include unearned interest. 1