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87- 100949
<br />REAL ESTATE SALES AGREEMENT
<br />THIS AGREEMENT, made and entered into this 7- day bf
<br />Februarys 1485, to be retroactive to the lst day of January,_
<br />1985, by and between Richard S.: Ca;enee and Colleen M.
<br />Cavenee, husband and wife, herein called "s=iler° and James`
<br />P. Masat and Carolyn A. Masat, "husband and - wife, herein
<br />called "Buyer ".
<br />WITNESSETH THAT.
<br />Seller agrees to sell and convey to Buyer and Buyer
<br />agrees to 'purchase from Seller the following described real
<br />estate, including buildings, fixtures, and issprrove nts
<br />`situated thereon and legally described'as follows,' tti witc
<br />Lot Three (3,> Ryder Park Subdivision
<br />in the City of Grand isand, Hail County,
<br />Nebraska,
<br />A
<br />together with the appurtenances thereto, awn the follourrii[l
<br />terms 'and <conditions:
<br />The Buyer agrees to pay the:Seller and the Seller
<br />L1.
<br />her by agrees to accept from '-Buyer,. as the total putr --hwse .
<br />price said property",_ tie sum of .Hurnired Twenty -five
<br />_fo3r
<br />Thousand and No/100 Dollars (5125, 000.00) , payable as follows:. <
<br />(a)' One Hundred Thousa_'id and No/100 Dollars
<br />( 1t3i3, 4Dti :,( 4) of t"he pur -tease price of the real estate shall
<br />,
<br />be-amortized in seventy—two 0 2 F consecutivre, nthly insfial%ts ,
<br />`
<br />of principal and. interest in the amount of Nine Hundred
<br />.
<br />,:ifty -two and 33/100 Dollars (S95-2_33) each, beginning
<br />,g
<br />-
<br />- any , i $S, r 1i s t ifC1dS ieLESi r l_ eeven -
<br />�
<br />percent (11%) per arinum on said anpald balance, and one (1)
<br />final payment of the Tema nirba unpaid principal aad accr€ ed
<br />interest = January t, 1991, which shallbe the seventy-
<br />tt and (73rd) m nthly payment. liver, the Buyer has the
<br />r.
<br />- 'ovtion of extending the amart .zatirar€ perirsd -'fDr arx- :ads3i:tiosai
<br />-
<br />-
<br />- -two '(2) years with the in'te_7'esx" -- rate to lx-- _negotiates
<br />between the parties with. the �7.�Ea]CZ ,fit to emceed the
<br />co rcial real estate loan rates prevailing at that time 'in
<br />Grand lsiand, Nebraska, but the gcatiated interest .rate
<br />si ai`1 not be less than ele :; en percent
<br />{b) ?t,�ezity -five Thousand and No/100 Dollars
<br />of the purchase price of the real estate shall
<br />be amortized in thixty -slx (36) consecutive, monthly installeasts
<br />in the azwunt of Five Hundred and Noi3'n Dollars ($500.00)
<br />each, begirning January 1, 19855, and owe (1) final payment
<br />of Seven Thousand d and cellars ($7,000-00) as t-he
<br />thirty - seventh (31th) r-ionthly payment, due in full on
<br />January 3, '988_ D interest shall accrue or become due on
<br />the Twenty -five Thousand and Vo :/100 Dollars ($25,0430_08)
<br />unless Buyer is in default of, any of the terms and conditions.
<br />of this agreement. .Payment of the mont<lhly payments of wive
<br />Hundred and No/100 Dollars ($500 -00) shall be paid from the
<br />escrow account provided it paragraph 2 below.
<br />_
<br />- (C) Buyer shall have- the right to-prepay on any _
<br />- - _.date, . :during -' the term of this .. contract- nv amount of unpaid-
<br />principal or accrued- interest thereon without premium or
<br />penalty. All payments small be applied first to interest
<br />and the balance to principal.
<br />(d) All payments due seder this agreement shall
<br />be made to Seller at P.O. Box S, Grand island, Nebraska
<br />�
<br />L
<br />68802, or to such ether person or place as Seller shall
<br />designate in writing.
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