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P! A THIS IS A LEGALLY BINDING AGREEMENT: IF NOT UNDERSTOOD, SEEK LEGAL ADVICE. � PURCHASE AGREEMENT , FIRST BROKERS 200406342 1515 N. Webb Road Grand Island, Nebraska 68ay.i November 22, 2003 The undersigned, as Buyer, agrees to purchase the following Property: Address: =41RIM iOrSEI?WYE............ Legal Description: WASMNGT O.N. I!' k' P,. AtltEA. AO1'!' L&N E. S.0 J).. I. O:J C.. 7. HALL CO .............................................. ............................... including all fixtures and equipment permanently attached to the Property provided Seller has a marketable title in fee simple. The only personal property is included as follows: AS.$]:AIED.ON.TK' AU,S.SHEET.j, CT&C.RAN.GxE,.DiSH.WA,S ,.REMG>EaRA,T.M. AND. WA, SHM. J? BM.AND ................... GARAGE.RE,ERIGERA, TOR ............................................................................................................................................................................... ............................... .......................................... .. . .. . .. . .. . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . .. . .. . . . . . . . . . . . . . . . . . . . . . . .. . .. . .. . .. . .. . .. . . . . . . . . . . .. . .. . .. . .. . . . . . . . . . . . . . . . . .. . .. . .. . . . . . . . . . . .. . .. . .. . .. . . . . . . . . . . .. . .. . .. . . . d Seller agrees to furnish a title insurance policy insuring marketability and Buyer shall be furnished a current title insurance commitment by Seller before closing. The cost of owner's title insurance policy excluding buyer's and lender's endorsements issued for this sale, if any, shall be equally divided between Buyer and Seller. However, if Buyer and Seller agree, Seller may furnish an abstract of title certified to date in lieu of title insurance. If any defects in title are found in the abstract Buyer agrees to furnish a copy of a written title opinion from Buyer's attorney showing the defects. Buyer agrees that should a valid title defect exist, Seller has a reasonable time to correct said defect. If the title defects are not cured within a reasonable time period, the Buyer may declare this agreement null and void and the deposit shall be refunded. Seller agrees to convey to Buyer by warranty deed or its equal free and clear of all liens, encumbrances, special assessments levied or assesses, except as noted in paragraph #3 below, and subject to all easements and restrictions or covenants now of record. Seller agrees to pay any assessments for items such as paving, curbing, sidewalk or utilities previously constructed, now under construction, or ordered to be constructed by public authority not yet assessed. The documentary stamp tax shall be paid by the Seller. Buyer agrees to pay $ 133500 DOLLARS, on the following terms: an earnest money deposit of $ 200 DOLLARS at this time as shown by the receipt herein. If paid by check it will be cashed. The earnest money will be transferred to the listing broker on acceptance, if the selling broker is other than the listing broker. All monies shall be deposited in a trust account, to be held until the time of closing or until transferred to an escrow agent by agreement of Buyer and Seller; balance to be paid as shown in Paragraph(s) # 2 following #1. All Cash: Balance of $ 0 shall be paid in cash, or by certified check at time of delivery of deed, no financing being required. #2. Conditional Upon Loan: Balance of $ 133300 shall be paid in cash, contingent upon Buyer's ability to obtain a loan to be secured by a first mortgage or deed of trust on the above described property in the amount of $ 113300 . The Loan Shall Be: Conventional , with terms providing for initial interest not exceeding 7 % per annum, plus mortgage insurance, if required, amortized over not less than _20 years. Loan origination or service fees shall be paid by Buyer. Seller shall pay, in discount points only, not more than 0 % of Buyer's loan as stated above to Lender. Buyer agrees to make application for the loan within 7 days of acceptance of this offer, sign all papers, pay all costs, except as provided herein, and to establish escrow reserves for taxes and insurance if required by Lender. If processing of the application has not been completed by the lending agency by the closing specified elsewhere in this agreement, such time limit shall be automatically extended until the lending agency has, in normal course of its business, advised either approval or rejection. #3. Other Provisions: #4. See Attached Addendum (initials required) Initials: Buyer's Seller's Seller's total liability for any costs for replacement and/or repairs requested in any items listed in paragraphs 3 or 4 above shall not exceed $ — . Should replacement and/or repairs exceed this amount and Seller does not elect to pay the cost in excess of such amount, Buyer shall have the option of declaring this Agreement null and void and be entitled to full return of the earnest money. Seller shall pay all taxes to and including 2003 . Taxes for the calendar year 2004 , together with interest and rents and homeowner association dues, if any, shall be prorated to date of possession. Calculation of Tax Prorates at Closing: All tax prorates shall be calculated on the basis of the County Assessor's valuation at the date of closing and the most recent certifigd mill levy. If this proposition is accepted, Buyer agrees to close the purchase on or before w Possession of the property shall be given Buyer on the date and time of closin . Buyer requests a termite and wood destroying insect inspection of the building(s) at Buyer's expense (except should Buyer obtain a VA loan, the expense shall be paid by Seller.) Should evidence of termites or wood destroying insects be found, the building(s) shall be treated at Seller's expense. Buyer agrees to accept the treated property. If visible evidence of previously treated infestation which is now inactive is found, treatment shall not be required. Should damage from such insects be found, the damage shall be corrected at Seller's expense. However, if the cost required for repairs exceeds 1% of the purchase price and Seller does not elect to pay the cost in excess of such amount, Buyer shall have the option of declaring this Agreement null and void and be entitled to full return of the earnest money. This offer is based upon Buyer's personal inspection or investigation of the Property. Buyer agrees to accept the Property in its present condition, except as provided herein. However, unless otherwise provided specifically in this agreement, Buyer, or any designee, at Buyer's expense (or as otherwise agreed), shall have the right to any inspection desired of the real estate and personal property to be sold hereunder within 10 days from date of acceptance of this contract which is the inspection deadline provided. Buyer shall have 5 calendar days after the inspection deadline, the notice deadline, to give notice to the Seller of any unsatisfactory conditions revealed by inspection. If the Buyer fails to notify the Seller of an unsatisfactory condition Buyer agrees to accept the property in its condition on the inspection deadline. If such notice is received by the Seller, as set forth above, this agreement shall terminate 7 days after notice is received by the Seller, the resolution deadline, unless Seller and Buyer have agreed to a resolution of the unsatisfactory condition in writing or Buyer has waived such condition in writing. Buyer's Right of Access: Seller agrees to allow reasonable and timely access to the property to Buyer, Buyer's agents, his/her inspectors, appraisers, or any other designee to fulfill the provisions of this agreement. Seller further agrees to provide accurate and truthful information and cooperate fully to the best of their ability.