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<br />88-105290 <br /> <br />10. Buyer acknowledges that Buyer has inspected the premises and accepts <br />the same in its present condition. Buyer acknowledges that Seller <br />agents or employees have made no representation to the Buyer as to the <br />condition of the premises. <br /> <br /> <br />11. Risk of loss to the premises shall be upon Seller until the time of <br />Closing. After Closing, risk of loss shall be upon Buyer, and Buyer <br />shall insure the premises against casualty loss for the responsible <br />value of the premises. <br /> <br />12. Upon Closing, Seller agrees to convey the premises to Buyer by S~e~ial <br />Warranty Deed, free and clear of all liens, taxes, and encumbrances <br />ex~ept easements and restrictions of record; provided that, said Deed <br />shall convey to Buyer as estate in fee simple determinable, and in the <br />event of breach of any of covenants contained in this Agreement, the <br />possibility of reverter shall vest in the Seller herein, the City of <br />Grand Island, Nebraska. <br /> <br />13. Time is of the essence of this Agreement. All covenants and <br />conditions contained herein shall be binding upon and insure personal <br />representatives, successors and assigns. <br /> <br />Dated: ~ ~CJ ,1988. <br /> <br />SELLER; <br /> <br /> <br />THE CITY OF GRAND ISLAND, NEBRASKA <br /> <br />A M{ZZ;rtf~~ <br /> <br />Chuck Baasch (Mayor) <br />