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� 99 109581 to transfer to Seller, in the form of non-cash consideration, two (2) residential building lots located in the subdivision that Buyer intends to develop upon the real estate herein. Seller shall have Seller' s own choice of any two (2) lots in said subdivision, once all planning and platting is completed. The value of each lot to be transferred from Buyer to Seller shall be $25, 000. 00, which transfer shall be deemed completed when a Deed transferring said lots from Buyer to Seller is placed of record with the County Register of Deeds . In the event that Seller has not notified Buyer as to Seller' s choice of two specific lots for conveyance within one calendar year from the date of final plat approval, Buyer can then designate two (2) lots of Buyer' s choice. Buyer can then complete the conveyance as soon as reasonable thereafter. 2 .2 Total Consideration. The above described consideration shall be considered as the "Purchase Price" in the total sum of Five Hundred Fifteen Thousand Six Hundred Dollars ($515, 600 . 00) , and will be paid as follows: Downpayment (due immediately when all sale conditions satisfied) $46, 560. 00 Balance due at closing $419, 040 . 00 Additional consideration (2 residential lots) $50, 000 . 00 Total cash and in-kind consideration $515, 600 . 00 All Payments toward the closing of this Agreement shall be paid in the form of a CERTIFIED or CASHIER'S CHECK in order to satisfy the "good funds" requirement under Nebraska Statutes . The downpayment, when made, shall be placed in an interest bearing account utilizing Buyer' s federal ID number, with Buyer receiving all interest associated with said downpayment until the time of closing. 3 . CLOSING. The closing of the purchase and sale of the Property shall take place at Grand Island, Nebraska, on or within one hundred twenty (120) days from the date that all Buyer and Seller conditions identified in this Agreement are satisfied, and the downpayment identified herein is deposited; or at such other time, date and place as the parties may mutually agree in writing. 4 . ESCROW INSTRUCTIONS. The parties agree that Stowell, Kruml & Geweke, P.C. in Ord, Nebraska shall be the escrow agent to retain a copy of this agreement together with a warranty deed, signed and properly acknowledged by the seller. The escrow agent is hereby authorized by the parties to pay all expenses necessary for closing from the downpayment or closing payment. 2