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<br /> ' (b}.PURCHASER'S ELEGTION 1'O REBUILD.If Pnrchaser ie�ot in defauit under this contract,or
<br /> after curiitg aay euch defauit, e�d if the mortgagees in any prior martgages and sellers in any
<br /> : ' ����cp?l�Y�Ct�fn�ri�ri Li¢33s�L��isr OLh2��'�2.P�rchaae���isy�tec:�.w have that portion of such
<br /> inaurance proceeds neceseary to regair,replace or restore the damaged Froperty(the repair work) �
<br /> " deposit�d in escrQw witdi a bank or title inaurance company qnalified to dd buair�ess in the Stateof
<br /> �tebraska.,orsuch�thergarty as ma�r bemutuallyagreeabietoSelles and Purchaser.TAeelection
<br /> � may only b�made by writtea natice to Seller within aixty deys afteP the damage oocurs.Alao,the
<br /> election witl only be pernaitted if the plans and sgecificationa and contracts forth�repair work are
<br /> � approved by Seller, which approval Seller shsll not unreacanably withhold or delay.If auch a
<br /> � permitted electian is made by Purchaser,Seller and Purchaser shall jointly deposit,when paid,
<br /> eueh insur�r�ee ptoc�eeds into such escrow. If aucb ineurance proceeds are insuffieisnt for the
<br /> �M repair uror�. Purchaser ehall. before tHe commencemen� of the repair work, depoait into such
<br /> �"'1 eacrow eufficisnt additional money to inaure the full payment for the repair work. Even if the
<br /> 0 insuranoe prce�eds are unavailable or are inauff icient to pay the cost of the repair work,
<br /> f�"I Purchaser$���t�at a}1 times be responsible to pay the full cost of the repair work.All escrowed .
<br /> 1 funde ahatY I� d;�t�eused by the escrowee in accarc�anee with generally accepied sound
<br /> canstruction disA�,�ment procedures. The costs incurred or to be incurret�on account of such
<br /> �O eserovQ shalt be depoeited by Purchaser into such escro�v befare�fie commencement of the repair
<br /> walk-P+uchas,�F{�1�ill.�q�ptete therepairwork assnon as rea�riably possibleand.in a goad and
<br /> n����,Wlr���,:i��any event the repair work sha���completed by Purchaser within
<br /> �e�e�tYS.If,following the completio��fared paymentfortherepair work,
<br /> tdiere remain any andiabur$ed escrow fisnds. such funda ahall be applied to payment of r:F±e
<br /> amounte payable by Purchaser under this contrac�an aeeardance with par�graph 8(ai a��:�..
<br /> 9. INJURY OR DAMAGE OCCURKING ON THE PRO��RTY.
<br /> (a) LIABII�7'Y. Seller shnll be&ee &am -�iability and c�aims €or damages by reasen�,;i;�Eu.ries
<br /> uccurringonorafterthedateofthieco��cttoanypersonorpersonsorpropertywhiI�ezc.�r;��ut
<br /> the Prnperty, purchaeQr sha21 'defe�c� �atd indemnify Seller from all liability, loss, costs :�nd
<br /> obligatione,including reaso�abde at��r�eys'fees,an account of or arisia�g out of any s uch injuries. ^
<br /> , However, Purchaser ahall ha�e no iiabilitgr or obligation to Seller for such injuries which are
<br /> causerl by the negligence or intentiotraI wron�nl acts or omjsaions of Seller.
<br /> (bl LIABILITY I1�iSURANCE. Purchaser shall,at Purchaser's own expense,procure and maintain
<br /> liability insnrance against claims for bodily injury, �ieath and property darnaRe occr�rin�on or
<br /> about the Prope•cty.in ac��nutnts reasonably satiafactory to Seller and naming Seller as an
<br /> additional ineured. �
<br /> 10.INSUR4NCE,GENCRA►I,�,St. T}�e inaurance which Purchaser is required to pracure and maintain
<br /> � pureuant tn paragraphe:7and 9 ofthis contF,;ct shall be issued bya:c�insurance company c��ompaniea
<br /> licensed to da buoine3s nn the State of Mi�cGSOta and acceptabie to Seller. The insur;.�:ce�shaU be
<br /> maintain�d by Purchnaer at aIi times whi►e any amount remains unpaid under this contract. The � � "
<br /> ' inaurance polieies ehall provid�for not less than ten daya written notice to Seller before cancellation, �
<br /> non-rene�vel, terrnination or ch�nge in cocera�e, and Purchaser shall deliver to Seller a duplicate �
<br /> original or eerti�cate of such insurance pol.ir::y orr policies.
<br /> I1.CONDEMNATION.If all or any part of the�'roperty is taken in condemnAtion proce�din�s instituted
<br /> under power of eminent domain oris co»veyed in Iieu thereof under threat of condernnation,the money
<br /> paid purauant to such condemnation or conveyance in lieu thereof shall be appliF�d t��paymcnt�►f the , ;�
<br /> � amounts payable by Purchaser under this contract,even if euch amnunth are not then due to he paid. •. .�
<br /> Such amounte eha11 be applied first t�unpaid accrued interest and next tn the installments to he paid
<br /> as grovided in thia contract in the inverse orderof their maturity.Such pavment sh�ll nnt pnstpone the ,�
<br /> due date af the inatallmentA ta he paid pursuant to thi:� contract or �han�e the amount of�uch
<br /> installments. The balance, if any,shal1 be the pr�►perty of Purchaser.
<br /> 12.WASTF., REPAIR AND I.IF.NS. Purchaser Khall not remc,ve ur demoli4h ��ny huildin�;s, im- :�,
<br /> provements or fixtures now or laterlocated�n or�part of thc�Property,nurshall F'urch��rcnmmit��r "
<br /> allow wa�te nf the Pr�rperty. Purchaser shzli maintain the Prnperty in �;���,d cundit�oia and repair. � �
<br /> Purchaser 4ha11 not cr�eate ur permit to.acerue licnti or adverAe claimH :i�;�iin�t the �'rcpe.rty whic�h ��
<br /> consiitute a. li��n nr�l�im akainst Seller's intereht in the I'ropertv. Pur�rh�,�er:�hall �ay t��Sc�ller all '
<br /> amountA, cr,��:�:ard ex�enses,includin�;reaHC►nt�ble attorney�' FE'N4,inrurrrd by�eller t„remnveany
<br />� auch liens c,r adverse��laims. "
<br /> 13.DEED ANb MORTGt�GF,HF.GISTRY TAXES.Se11er qhAl1,upr�n Yurchaser'�full perfc,rmanceufthi5 �
<br /> contract, pay the deed tax due upon the reca;din�; ur filin�of the de.ed tn be delivered by �eller to
<br /> Purchaser.Themurtgage regietry tax due upoz the recordin�;ur filin�;uf this contr�ct shall be paid by
<br /> . the party wh.�l recorda or�les this contract:hac�ever,thie provision ahall not imgair the ri�,•ht of Seller
<br /> t�cbllect fr�rn Purcha�er the am��unt uf euc3�tux actually paid by5eller��pr<�t,ided in the applicable
<br /> la�tiJ governin�defa�lt�.nd service nf notice of terr�ir�ation of this cuntrHrt.
<br /> 14.1�`C�TICE OF A5SICI4'�t.i"ENT.tf either Sell�:rar I�urch�:.�.:c�w��igns their interest i n sl.r��r�:pYrty,n rupy
<br /> � of such assi�nment ahall promptly be furiz;�red to the non-a�si�;ning party.
<br /> 15.PRUTEC'I'T(3:+1 OF INT�RESTS.If Purchr��:c:,fails t�p.ay any sum of money required under the terms�
<br /> of thia contract or fails to perfurm any of i';;rrhae�r's c���iiRations a�xet forth in thi�;rontrar.t.Selter
<br /> may,at Se�ler's option, pay the same or cause the same t�be performed,i►r Uoth,:ind thc��m��untti sn
<br /> paid by Seller and the c��t of auch per4'ormance shall ue p�y�ble at once,with i nterebtat th�•r2iti��tz�trd
<br /> in paragr�ph 4 of this contract, a5 an additinnal amuunt due Seller under this cnntract.
<br /> 1f there now existb.or if Seller hereafter creates.�uffere�rpermits to�ccrue,any m��rtg��;e,cuntrurt fi�r
<br /> deed,li�n or encumbrance a�,ain�t the Property which i�not herein expresely assumed by Yurchasc,�r, � ^
<br /> end provided Pnrchaser ie not in default under thi�ec►ntract,Seller�h�ell timcly pay all amc,unttzdue
<br /> thereon,and if Se11er fail� to do�u,Purchgser may, xt Purchaser'r uptiun,psiy any such delinqucnt
<br /> �mounts and deduct the�m�unts paid from the inst�llmentia)next cumii��du�•under t1�is cuntra�t.
<br /> Z6•DEF�lUI.'!'.':'!:e l:s�zs cs€�rfcr;����tt�ce Ly�'urchaser of Ehe terms uf tbie c�ntrc�rt ih.in est;eiitial Exirt af ��.,,,
<br /> this contract. Should Purchaser fail to timely perfarm�ny of the terms��f this�v►ntra�•t.:+rllEr may,at �7�
<br /> Seller e option, �tect to decl�re thi� cantract c•c�ncelled ,�nd termincited by natira� tr� Purrht��c�r i»
<br /> Lrsce�rdanee with npplit�ble l�w.A11 ri�;ht,title t�nd intereyt�cquired under this iv»itr;t�•t b��'urc•haxc�r t
<br /> shaU then ce��E�und terminat�.:�nd all impravoments m�de upon the Prc►pc�rtv.�nd ull p.��mentN made i�
<br /> by Purch��er pur�u�nt tu thi�contrnrt ahall belnn�tu Selltiyr��H Iiquidf�tc�i dturta�es fat br��.cch uf this ��
<br /> c•�ntcnct.Neith�r the extenc�iun uf the time fur p�iyment c►f any sum nf mc�nev tu b�•�,,�i<I hE�r��und�r nF,r
<br /> w
<br /> any wF�ivEr by Selleruf Seller'�s ri�hte tc,dectarc this�cc�t�trr�rt fnrfE�itt�d b�rez�5em nfi�ny hrE•a�•lt r:h�i11 in ��
<br /> any m�nner�ffect�eller'E►ri�;htturanf�elthis�ontrHrt be�au�eufd��ft�utts�;uh«�qii��,�tlt��c-c•urri���;,r�n�i �
<br /> m�exteneion uf tinne ehe�ll be vaiid unfee�A�;rE�cd tu in writinN. Aft�•�tiorv�rt•��t nr�t�i�t•t�f cte�f';ialt ;in�1
<br /> , failurc�tEf�•urc�rauch dE�fuult withir�thE�Ueriud c�llnwc+�!i��I�cv.1'ur�•hE��r•rf+t�nti.u����t�rie'tll<'i�l(�,r:urr��nd�-r
<br />. �w:asrst�t�m��f ttte I'rup��rtv t<r�r�llt•r,but f'urchtteer::h:ell h��F�nt�tlEvl t�►����::�;e•��:u��e,�f th�� t'r+�����t�tv uut.,i
<br /> tf�f•expirtrti��n nf ru�•h periurl
<br />: t7 1i1i1�1)li�3(i F:N'1�F(.°1'.`t`1tf�t�>rtrtt�r�f thia.ce�ntrt�E•t t�fi�+tl riEU with ttiE�truiel;in�i hi��ct tli�•F,,irt�e�4 hF�r«�t��,:i�E1 �
<br /> th��r�+Uc•cet:aute iri int��r��at
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