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I 2. Taxes and Asoossmants. Sellers agree to pay all taxes anal aeeasents up to a nc u a; a year 1993. Buyers expressly agree to aasu+o and pay all real estates taxes for the year 1984 and subsequent ra and to furnish Sellers with paid receipts prior to delinquent dates. ftfffs agree to pay all special aseessments which may be levied against h property after the date of the execution of this Agreement. J. Title Exam nation. Sellers shall furnish Buyers an Abstract of Title or a 'fit a insurance Binder showing marketable title as defined is the Marketable Title Act of the laws of Nebraska. Buyers agree to furnish Sellers a written opinion from his attorney showing defects. if OW, in the title to said real estate within 20 days of receipt of the Abstract of Title or Title Insurance Binder. If there are defects in title.which can be corrected. Sellers shall have a reasonable time in VbUh to cure said defects at Sellers' expense. If there are defects in title which cannot be corrected, this Agreement shall become null and void, and both parties shall be released from their covenants and obliga- tions hereunder. and all monies previously paid by Buyers to Sellers shall be returned to Buyers. 4. Insurance. As of the date of possession herein, Buyers agree to insure and keep insured the improvements on the real estate in a minimum of $10.000.00, against fire. wind, storm, hail and extended coverage payable to Sellers and Buyers as their interest may appear. All insurance payments shall be made by Buyers directly and such insurance shall be obtained from a company acceptable to Sellers hereunder and Buyers shall furnish Sellers with paid receipts showing proof of coverage at least 14 days prior to the expiration date. In the event that Buyers fail to make the payments as set forth previously. then Sellers may pay such amounts as they shall become due and advance the same on behalf of Buyers. In the event of such advanc_. all such monies shall draw interest at the rate of 161 per annum until paid. Sellers agree that in the event of loss, proceeds are to be divided between Buyers and Sellers as their respective interests appear. This paragraph shall act as an assignment of the same upon presentation to an insurer of said premises. S. Possession. It is agreed that Buyers shall have possession of the real estate on December 1. 1983, the date of closing and Buyers shall be entitled to retain possession so long as they comply with the terms of this Agreement. 6. Warranty Deed - Escrow. Sellers and Buyers agree that McDermott, Depue b Zitterkopf. 811 W. 2nd Street. Grand Island, Nebraska, shall serve as escrow agent under this Agreement upon the following terms and conditions: a. Sellers agree to execute a Warranty Deed conveying their interest in and to the above - described real estate to Buyers free and clear of all liens and encumbrances except easements and restric- tions of record, if any, and to deliver said Deed to the escrow agent and to direct said escrow agent to deliver said Warranty Deed to Buyers upon performance of the terms of this Agreement by the Buyers. -2- a a R