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AGREEMENT 88_102962 WHEREAS. William J. Degen and Mary Ann Degen, Husband and Wife, are the owners of Lot One (1), Block Six (6) Woodbine Addition to the City of Grand Island, Hall County, Nebraska; and ' WHEREAS, Richard L. DeBacker and Patricia M. DeBacker-, Husband and Wife. are purchasing Lot Two (2), Block Six (6), Woodbine Addition to the City of Grand Island, Hall County, Nebraska, which adjoins said Lot One (1), Block Six (6); and WHEREAS, as is shown on the plot plan of Lot Two (2), Block Six (6), made by Lyle W. Davis. Registered Land Surveyor, under date of January 10. 1985, the garage building situated in the Southwesterly corner of Lot One (1), ancroaches upon Lot Two (2). NOW, THEREFURE, THE PARTIES HERETO AGREE AS FOLLOWS: 1. The owners of Lot Two (2) will permit the encroachment of said garage building to continue in accordance with the terms and conditions of this Agreement. 2. The owners of Lot One (1) will continue to maintain said garage building in first class condition. When, for any reason, it becomes necessary to replace said garage building or to perform repairs upon it at a cost in excess of 50% of its replacement cost, the owners of said Lot One (1) will demolish said garage building and thereupon return to the owners of Lot Two (2), the full and uninhibited use and occupancy of the area now encroached upon by said garage building. 3. The terms and conditions of this Agreement shall inure to the benefit of and shall be binding upon the respective parties, their heirs, successors and assigns and shall run with the title to the real estate tracts hereinbefore described. 1t: .-:'\7- Executed at Grand Island. Nebraska. on May ~__ , 1988. jjpJ t!?QA(} tko.'))yr / ry An Degen r L .,. -1'