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1 1 <br />AGREEMENT FOR PURCHASE OF REAL ESTATE n <br />KNOW ALL MEN BY THESE PRESENTS; • 89_ 100192 <br />t The undersigned Seller hereby sells to the undersigned Buyer, the <br />following described real estate for the price and upon the terms and <br />conditions herein set forth, and the undersigned Buyer hereby accepts said <br />terms and conditions, agrees to pay the purchase price, and covenants to <br />perform the obligations of the Buyer hereunder. <br />1. The Seller is: THE CITY OF GRAND ISLAND, NEBRASKA, A Municipal <br />Corporation. <br />2. The Buyer is (whether one or more) <br />Kenneth A. Jackson . a single person <br />3. <br />The legal description of the real estate (premises) <br />p�is: <br />The Northerly Forty Four (44) Feet of Lot Eight (8),"'in Block One <br />Hundred Thirty Three (133), in Union Pacific Railway Company's Second <br />Addition to the City of Grand Island, Hall County, Nebraska. <br />4. <br />The purchase'price is One Dollar - ($1.00)- payable at Closing. <br />5. <br />The completion of this Contract shall be contingent upon the <br />following: <br />A. Buyer qualifying for a home improvement loan to cover costs of <br />t <br />required improvements. <br />B. The sale of the premises being approved by.the Community <br />Development Agency Advisory Committee and the. City Council of the <br />� <br />City of Grand Island, Nebraska. <br />6. <br />Buyer covenants to perfornr.the following obligations: <br />A. To begin remodeling constructl*on on the premises within 30 days <br />after Closing, such construction to be performed pursuant to <br />specifications shown on. Exhibit "A ", incorporated herein by <br />reference. <br />B. To Camplete remodelir.4 construction on the premises within..18 <br />mahths' after Closing. <br />C. 'Tc.,Iive -in the premises for three years after closing. <br />D. To.- permit Community Development Agency employees to. monitor the <br />constiuc�tion work on the premises during rehabilit4tion. <br />_ <br />E. To plant and maintain a neat - appearing grass-yard and to avoid the <br />storage of garbage, trash or refuse on said�..yard. <br />F. To pay all real estate taxes and special asseosments before the <br />same become delinquent. <br />G. To pay the fee for recording the Buyer's Dead.. <br />H. To pay all mortgage and insurance payments before the same become <br />_- <br />delinquent. <br />7. <br />Buyer shall be entitled to possession of the premises upon Closing of <br />this transaction. The Closing shall be on or before 150 days after , <br />the date of this Agreement, provided that the contingencies stated. in <br />#5 have been satisfied by the Buyer. The exact time and place a£: <br />Closing shall be negotiated between the parties. <br />8. <br />The parties agree that the Seller will provide, the Policy of Title <br />Insurance dated August 24, 1988, issued at the time the City purchased <br />the property, and showing the premises to be free and clear of all <br />liens and encumbrances except easements and restrictions of record. <br />i <br />9. <br />Seller agrees to pay the real estate taxes for 1987. All of the 1988 <br />real estate taxes and subsequent year's taxes, if closing is on or <br />before December 31, 1988, shall be paid by the Buyer. <br />1 <br />