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v 200600218 Page 2 3. Buyers shall carry fire and extended casualty insurance coverage on the property in an amount of at least Ninety thousand and no/lOO's Dollars ($90,000.00) and shall carry liability coverage on the property in an amount of at least Five hundred thousand and no/lOO's Dollars ($500,000.00) naming Seller as an additional insured. The fire and extended casualty coverage shall name the Seller as a loss payee. This insurance shall be placed in effect upon settlement date. 4. Buyers shall be responsible for any documentary stamp taxes payable upon delivery of the deed and filing of the same. If Buyers require any title insurance on the property in order to obtain refinancing, they shall be responsible for the entire cost of the title insurance. 5. If the Buyers sell the property or assign their interest in this contract, the balance due on this contract shall be immediately due and payable in full. 6. Buyers have made a complete inspection of the property and are accepting the property "AS IS". There are no warranties on the property. 7. Time is of the essence. In the event Buyers fail to comply with or perform any condition or agreement hereof and default for a period of sixty (60) days or longer, Seller may elect to declare all of Buyers' rights herein in default. In the event of a default, Seller has the right to declare the entire balance due under this contract due and payable in full and to cancel this contract and receive the deed back from escrow. 8. Notice of forfeiture of default or any other notice hereunder may be given by mailing such notice by first class mail addressed to the Buyers at the address given below their signatures. Notices to Seller may be similarly given to her at her stated address as set forth below. IN WITNESS WHEREOF, the parties have executed this instrument at Grand Island, Nebraska on the day first above written. SELLERS: ~/;;J~~~ Doris L. Winkler, Trustee R.R. 1, Box 16 Oak, Nebraska 68964