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AGREEMENT FOR PURCHASE OF REAL PROPERTY <br /> � BY AND BETWEEN <br /> _ THE COUNTY OF HALL AND Tf�CITY OF GRAND ISLAND <br /> (21) of Bonnie Brae Addition and Fractional Lot Five (5) in Block Nine <br /> � (9) in Kernohan&Decker's Addition, all being additions to the City of <br /> Grand Island, Hall County, Nebraska, said fractional lots forming <br /> together one full rectangular lot having a frontage af sixty-six (66) feet <br /> on Third Street and a depth of one hundred and forty(140) feet and �� �+� 6 � 2$ <br /> bounded on the west by Jefferson Street, <br /> hereinafter referred to as the"Property;" and <br /> WHEREAS, County desires to purchase from City and City desires to sell to <br /> County an undivided one-half interest in said Property, as set forth herein, under the terms <br /> and conditions set forth herein; and <br /> WHEREAS, the County and the City find that this agreement is in the best <br /> interests of the residents and citizens of the County of Hall and the City of Grand Island. <br /> NOW, THEREFORE, in consideration of the mutual promises, covenants, and <br /> obligations contained herein, the County and City agree as follows: <br /> 1 Property Purchased. County shall purchase from City and City to sell to County <br /> an undivided one-half interest in the Property. <br /> 2 Consideration. County shall pay to City upon closing the purchase price of <br /> $250,000.00. <br /> 3 Closing. Closing shall take place at 10:00 am on Monday, May 29, 1999, or such <br /> other time and date as agreed to by the parties. At such closing City will convey <br /> to County by warranty deed an undivided one-half interest in the Property as <br /> tenant in common. <br /> Page 2 <br />