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I F_ 7 iII AGREEMENT FOR SALE OF REAL ESTATE THIS AGREEMENT made this day of 1983, between MERLE L. MOORE and DOROIHY K. MOORE, husband and wife, hereinafter referred to as the "SELLERS" and MICHAEL PALU and VICTORIA J. WELCH, hereinafter referred to as the "BUYERS "; W I T N E S S E T H: That the Sellers hereby covenant and agree that if the Buyers shall first make the payments and perform the covenants hereinafter mentioned on his, her or their parts to be made and performed, the Sellers agree to furnish Buyers a good and sufficient abstract of title showing marketable title of record to the premises hereinafter described in the Sellers and will convey and assure to Michael Palu and Victoria J. Palu, husband and wife, as joint tenants and not as tenants in common, in fee simple, clear of all encumbrances except for covenants, restrictions, and easements of record, by good and sufficient warranty deed, the following piece and parcel of ground, to -wit: The Northerly Sixty -Nine (69) Feet of the Westerly Thirty - Five (35) Feet of Lot Five (5) in Block Eight (8) in H. G. Clark's Addition to the City of Grand Island, Halt County, Nebraska, together with all appurtenances thereunto belonging and now thereon for which the Buyers covenant and agree to pay the total amount of FORTY -THREE THOUSAND AND NO/100 DOLLARS ($43,000.00), to Merle L. Moore and Dorothy K. Moore, or the survivor of them, in amounts as follows: 1. The amount of Five Thousand Dollars ($5,000.00), cash in hand, receipt whereof is hereby acknowledged. 2. The balance of Thirty -Eight Thousand Dollars (538,000.00), together with interest at the rate of 101.4 per annum on an amortization plan In ninety (90) equal monthly installments of $379.40 each, the first of which shall be due and pavable on the first day of June, 1983, with like payments due on tt,- first day of each month thereafter, with the balance due thereon together with interest in full on the first day of December, 1990. It is specifically understood that when an installment is paid, the interest shall be first computed on the remaining principal amount due the Sellers, and such payment applied on such interest, the remainder of such payment ling applied to the direct reduction of principal. The Buyers shall have the right to make additional payments of principal on any installment payment date, which amount shall Tim, be applied to the direct reduction of principal, ice.