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8960im 100199 <br />9. 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 />10. Buyer acknowledges that Buyer has inspected the premises and accepts <br />the same in its present condition. Buyer acknowledges that Seller <br />agents or employees have made no representation to the Buyer as to the <br />condition of the premises. <br />11. Risk of IpA s to the premises shall be upon Seller until the time of <br />Closing. After Closing, risk of.loss shall be upon Buyer, and Buyer <br />shall insure the ptemibes agairis•t, cast.vAlty loss for the responsible <br />value of the premises. <br />12. Upon Closing, Seller agrees to convey the premises to Buyer by Special <br />Warranty Deed, free ard- clear of all liens, taxes, and encumbrances. <br />j except easements and restrictions of record; provided that, said Deed <br />shall convey to Buyer as estate in fee simple determinable, and in the <br />' event of breach. cvg" any of covenants contained in this Agreement, the <br />possibility of revexter''shall vest in ,the Seller herein, the 'City "oE _ <br />Grand Island, Nebraska. <br />13. Time is of the essence of this Agze(�-rneht . All covenants and <br />conditions..contained herein shall be binding apon and insure personal <br />representatives, successors and assitjr .. <br />Dated • /— S Y `t , 1988 . <br />SELLER; -- <br />THE-CITY OF GRAND ISLAND, NEBRASM <br />BU A Municip 1 Corporation. <br />ale <br />A <br />G en B. McMixg, Chuck Baasch (Mayor) <br />ath J. cHugh <br />