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85002998
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Last modified
10/17/2011 9:26:41 PM
Creation date
4/1/2008 4:31:18 PM
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DEEDS
Inst Number
85002998
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I <br />002998 <br />9. ESCROW AGENT. <br />The parties hereby agree that the Overland National <br />Bank of Grand Island, Nebraska, may act as Escrow Agent under the <br />terms of this Contract. An executed copy of this Contract, the <br />Abstract of Title, and a Warranty Deed and Transfer Statement, <br />conveying the premises to Buyers shall be deposited with the <br />Escrow Agent at Closing. Upon payment of all principal and <br />interest due and owing by the Buyers and the performance of all <br />of the terms of this agreement by Buyers, the Buyers shall be <br />entitled to delivery of said Warranty Deed, Transfer Statement <br />and Abstract of Title. Sellers shall pay the documentary tax in <br />the amount of $82.50, which may be withheld from the final <br />payment by Buyers. it is agreed that the Escrow Agent shall act <br />as a depository only. Costs of the Escrow Agent shall be shared <br />equally by the parties. <br />10. INSURANCE AND RISK OF LOSS. <br />All risk of loss or damage to the premises by reason of <br />fire or other casualty shall rest with the Sellers until <br />Possession is taken by the Buyers. After Possession, all risk of <br />loss shall rest with the Buyers, and Buyers shall keep the <br />buildings and improvements on the premises insured under a fire <br />and extended coverage policy and pay the premiums on such policy <br />for the term of this Contract jis the premiums become due-. Such <br />Policy shall be carried in an amount not less than $75,000.00 for <br />casualty insurance loss and shall be issued in the name of the <br />Sellers and Buyers as their respective interests may appear. <br />Sellers shall be named as loss payees. Buyers shall provide <br />Sellers with evidence Of payment of the premiums before the some <br />become delinquent. <br />Tn addition to casualty insurance, Buyers agree to <br />provide and pay the premiums on comprehensive liability insurance <br />covering the premises and protecting tile Sellers and Buyers from <br />all claims, demands, lawsuits, and judgments arising out of <br />injury to persons or damage to property occurring on the <br />I <br />
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