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9 <br />( ' <br />n <br />e U <br />W r <br />r <br />c <br />2. PRICE AND PAYMENT <br />5. DELIVERY OF DEED <br />rn <br />- <br />n z <br />^ _ • <br />LAND CONTRACT <br />C1'1 <br />CXJ <br />THIS LAND CONTRACT (this "Contract ") is hereby made and entered into on May 16, 2014 (the <br />'Effective Date ") by and between J &B RENTALS LLC of 1611 St. Paul Rd., Grand Island, NE 68801 <br />( "Seller ") and Edwin Ernesto Mendoza Aguilar and Roxana Elizabeth Hernandez Chacon ( "Buyer "), <br />collectively referred to herein as the "Parties" and Individually as a the "Party". <br />WTTNESSETH, Seller, for itself, its heirs, and assigns, does hereby agree to sell to Buyer together with <br />all appurtenances, rights -of -way, privileges, easements, and all buildings and fixtures in their present <br />condition located upon the Property described below. <br />1. PROPERTY <br />Seller agrees to sell to Buyer, and Buyer agrees to purchase from Seller, upon the following terms and <br />conditions, the real estate, improvements, fixtures, appurtenances, commonly known as: <br />423 East 9th St., Grand Island, NE 68801. The legal description of which is as follows: Union Pacific <br />Railway Co. Second Add. LT 1, BLK. 133, to the City of Grand Island, Hall County, Nebraska <br />(the "Property"), <br />2.1 The Purchase Price for the Property shall be SIXTY THOUSAND DOLLARS <br />($60,000.00) payable as follows: Down Payment, THREE THOUSAND DOLLARS ($3,000.00) on <br />execution of this Contract, receipt of which is hereby acknowledged. <br />2.2 The balance of FIFTY -SEVEN THOUSAND DOLLARS ($57,000.00) shall be paid in <br />installments of FOUR - HUNDRED AND TWO DOLLARS AND 86/100 ($402.86) per month (which <br />includes the principal and interest) payable to Seller on or before the day of each month commencing on <br />JUNE 01, 2014 and continuing until the full amount of said purchase price has been paid. Interest at the <br />rate of Seven Percent (7 %) per annum shall be paid on the remaining unpaid principal balance for <br />TWENTY - FIVE years. Each such installment, when received by Seller, shall be credited first to the <br />payment of the interest on the remaining unpaid balance due on the date of receipt of such installment and <br />then to the reduction of the unpaid principal balance. If payment is not received by the 5t day of each <br />month, there will be an additional Twenty -Five Dollar ($25.00) late fee charge added to that month's <br />payment. <br />2.3 Buyer may prepay all or part of the balance amount of the principal and interest at any <br />time, without any penalty, and without notice. Such prepayment shall not include unearned interest. <br />3. CONDITION OF PROPERTY <br />Buyer states it has made an inspection of the Property and is purchasing same in "AS IS CONDITION" <br />any type of warranty thereon. Buyer further understands that Seller has not made and does not make any <br />representations or warranties of any kind as to the condition of the Property, buildings, improvements, or <br />fixtures located thereon, and /or the location of the boundaries of the Property. <br />4. POSSESSION <br />Buyer shall be entitled to enter into possession of Property on June 1s 2014 and to continue in possession <br />thereof so long as it is not in default in its performance of this Contract. <br />1 <br />CD <br />CD <br />CO <br />0) <br />CID <br />