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ORDINANCE NO. 8822 (Cont.) 20030803'7 Louis & Virginia Graham Part of the NW1 /4, NW1 /4 of Section 5, Township 10 13,700.16 North, Range 9 West of the 60' P.M. in the city of Grand Island, Hall County, Nebraska; being more particularly described as follows: Beginning at a point on the southerly right -of -way line of Schimmer Drive, said point being 596.55 feet west of the northeast comer of Lot 20, Platte Valley Industrial Park Third Subdivision; thence deflecting left 90° and running southerly, a distance of 157.0 feet; thence southwesterly along the arc of a curve, being 300.0 feet distant and parallel with the easterly right -of -way line of Juergen Road, a chord distance of 280.11 feet; thence continuing southwesterly, a distance of 11.62 feet to a point on the northerly line of Lot 21, said Platte Valley Industrial Park Third Subdivision; thence westerly along the northerly line of Lot 21, said Platte Valley Industrial Park Third Subdivision to the easterly right -of -way line of Juergen Road; thence northerly along the easterly right -of -way line of said Juergen Road to a point of deflection; thence northeasterly along the right -of- way line of said Juergen Road, a distance of 56.57 feet; thence northerly along the right -of -way line of said Juergen Road, a distance of 7.0 feet; thence easterly along the southerly right -of -way line of Schimmer Drive, to the point of beginning. TOTAL $434,590.10 SECTION 2. The special tax shall become delinquent as follows: One -tenth of the total amount shall become delinquent in fifty days; one -tenth in one year; one -tenth in two years; one -tenth in three years; one -tenth in four years; one -tenth in five years; one -tenth in six years; one -tenth in seven years; one -tenth in eight years; and one -tenth in nine years, respectively after the date of such levy. SECTION 3. The entire amount so assessed and levied against any lot, tract or parcel of land may be paid within fifty days from the date of this levy without interest, and the lien of special tax thereby satisfied and released. Each of said installments, except the first, shall draw interest at the rate of seven percent (7 %) per annum from the time of such levy until they -3- P, 1' T 4