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200312760 ORDINANCE NO. 8854 (Cont.) Robert & Judith Poland Lot 1, Stearns Subdivision Kenneth & Joyce Hoffman Lot 2, Steams Subdivision Bosselman Oil Inc. Lot 3, Stearns Subdivision Husker Construction & Distributing Lot 1, Schuele Subdivision Glenn H. Schwarz Part of NE 1/4 of Section 26- 11 -10, more particularly described as follows: Beginning at the NW corner of Schuele Subdivision; thence SW to a point 233' south of the north line of Section 26; thence west to a point 273' south of SE corner of Lot 1 Freedom Acres Subdivision; thence north 233' to the north line of Section 26; thence east to the point of beginning. TOTAL 6,168.53 11,256.25 12,694.16 15,673.70 39,706.19 $319,703.15 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; provided, however, 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 (7.0 %) per annum from the time of such levy until they shall become delinquent. After the same become delinquent, interest at the rate of fourteen percent (14.0 %) per annum shall be paid thereof, until the same is collected and paid. SECTION 3. The treasurer of the City of Grand Island, Nebraska, is hereby directed to collect the amount of said taxes herein set forth as provided by law. SECTION 4. Such special assessments shall be paid into a fund to be designated as the "Sewer Extension Fund" for Sanitary Sewer District No. 501. -3-