Laserfiche WebLink
<br />88- 105290 <br />AGREEMENT FOR PURCHASE OF REAL ESTATE <br /> <br />KNOW ALL MEN BY THESE PRESENTS; <br /> <br />The undersigned Seller hereby sells to the undersigned Buyer, the <br />following described real estate for the price and upon the terms and <br />conditions herein set forth, and the undersigned Buyer hereby accepts said <br />terms and conditions, agrees to pay the purchase price, and covenants to <br />perform the obligations of the Buyer hereunder. <br /> <br />1. The Seller is: THE CITY OF GRAND ISLAND, NEBRASKA, A Municipal <br />Corporation. <br /> <br />2. The Buyer is (whether one or more) <br /> <br />Douglas C. and Sherri L. Luth, husband and wife <br /> <br />3. The legal description of the real estate (premIses) is: <br /> <br />Lot Four (4), Block One Hundred Thirty Two (132), Union Pacific 2nd <br />Addition to the City of Grand Island, Hall County, Nebraska, also <br />known as 503 East 9th Street. Grand Island, NE. <br /> <br />4. The purchase price is One Dollar---($l.OO)------------payable at <br />Closing. <br /> <br />5. The completion of this Contract shall be contingent upon the <br />following: <br /> <br />A. Buyer qualifying for a home improvement loan to cover costs of <br />required improvements. <br />B. The sale of the premises being approved by the Community <br />Development Agency Advisory Committee and the City Council of the <br />City of Grand Island, Nebraska. <br /> <br />6. Buyer covenants to perform the following obligations: <br /> <br />A. To begin remodeling construction on the premises within 30 days <br />after Closing, such construction to be performed pursuant to <br />specifications shown on Exhibit nA", incorporated herein by <br />reference. <br />B. To complete remodeling construction on the premises within 18 <br />months after Closing. <br />C. To live in the premises for three years after closing. <br />D. To permit Community Development Agency employees to monitor the <br />construction work on the premises during rehabilitation. <br />E. To plant and maintain a neat-appearing grass yard and to avoid the <br />storage of garbage, trash or refuse on said yard. <br />F. To pay all real estate taxes and special assessments before the <br />same become delinquent. <br />G. To pay the fee for recording the Buyer's Deed. <br />H. To pay all mortgage and insurance payments before the same become <br />delinquent. <br /> <br />7. Buyer shall be entitled to possession of the premises upon Closing of <br />this transaction. The Closlng shall be on or before 150 days after <br />the date of this Agreement, provided that the contingencies stated in <br />15 have been satisfied by the Buyer. The exact time and place of <br />Closing shall be negotiated between the parties. <br /> <br />8. The parties agree that the Seller will provide, the Policy of Title <br />Insurance dated June 24, 1988, issued at the time the City purchased <br />the property, and showing the premises to be free and clear of all <br />liens and encumbrances except easements and restrictions of record. <br /> <br />9. Seller agrees to pay the real estate taxes for 1987. All of the 1988 <br />real estate taxes and subsequent year's taxes, if closing is on or <br />before December 31, 1988, shall be paid by the Buyer. <br />