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w riL L n 00 • rri LAND CONTRACT CD THIS LAND CONTRACT (this "Contract ") is hereby made and entered into on (the "Effective Date") by and between J & B RENTALS L.L.C. of 1611 St. Paul Rd., P.O. Box 1043, Grand Island, NE 68801 ( "Seller ") and Juan Manuel Martinez Razo of 1022 North Greenwich, Grand Island„ NE 68801 and Maria D Martinez Bahena of 1022 North Greenwich, Grand Island, Nebraska 68801 (collectively the "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 a1 `buildings and fixtures in their present condition located upon the Property described below. 1. PROPERTY 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: 1022 North Greenwich, Grand Island, NE 68801. The legal description of which is as follows: Gilberts Add S 60' Lt 1 BLK 10 and Gilberts ADD N 72" LT 1 BLK 10 in the County of Hall, City of Grand Island, Nebraska (the "Property"). 2. PRICE AND PAYMENT 2.1 The Purchase Price for the Property shall be Seventy -Nine Thousand Dollars ($79,000.00) payable as follows: Twenty Thousand Dollars ($20,000.00) on execution of this Contract, receipt of which is hereby acknowledged. In addition to the purchase price of $75,000.00 we are loaning $1,000.00 for window replacement and $3,000.00 towards a new roof. Seller is paying the balance of the new roof. 2.2 The balance of Fifty -Nine Thousand Dollars ($59,000.00) shall be paid in installments of Six Hundred Six and 74/100 Dollars ($606.74)- 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. In Addition to the Mortgage the Buyer will be assessed $127.42 per month for the real estate taxes on both properties and $85.24 per month for the insurance on the properties. This makes a total monthly payment of $819.40 per month. 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. 3. CONDITION OF PROPERTY Buyer states it has made an inspection of the Property and is purchasing same in "AS IS CONDITION" without any type of warranty thereon. Buyer further understands that Seller has not made and does not make any representations or warranties of any kind as to the condition of ob 1 m rn c —1 m rD