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85-a 004591 <br />the Premises by involuntary act of the Grantees, or otherwise. <br />7. The holder of any mortgage authorized by the Director <br />of the Community Development Agency, including any holder who <br />obtains title to the Premises or any part thereof as a result of <br />foreclosure proceedings or action in lieu thereof (but not <br />including. <br />(a) any other party who thereafter obtains title to <br />the Premises or such part from or through such <br />holder; or <br />(b) any other purchaser at foreclosure sale other <br />than the holder of the mortgage itself,) <br />shall be obligated by the provisions of this deed to construct or <br />complete the construction of the improvements, or to guarantee <br />such construction or completion. Nothing in these covenants or <br />this deed shall be deemed or construed to permit or authorize any <br />such holder to devote the property or any part thereof to any <br />uses, or construct any improvements provided or permitted in the <br />Urban Renewal Plan or Community .Development Plan of the City of <br />Grand Island. <br />B. Grarrteles shall. trot. _irate =st the ,:reat.ion ;-)f any <br />improvement iiUt:ricts, including but nit Limited to paving, <br />sanitary sewer, water main, stnrm water drainage, or sidewalks, <br />which may be _ ate i :.n ar adjacent: t they Prom- ;se.,; for which the <br />prPm:isets stay be subjc,.?t t:o the Levy of special assessments. The <br />foregoing prohibLtiort shall riot prohibit the Grantees from <br />objecting to the amount of: gray such spccta.l a, .;assment. which may <br />be levied against ti;e :'remises. <br />This deed shall c:orcvey to Grantees an estate in fee simole <br />determinable, and in the event of breach, the possibility of <br />reverter shall invest: in the. Grantor f,er.cin, the City of Grand <br />Island, Nebraska. <br />Granter hereby crave -Hants with Granteers and with Grantees' <br />heirs and assigns that Grantr)r _,s lawfr.r.11y seize(I <), said <br />Premises; that they are tre i, t :om e�rlr:'llrtibrc�nCr, t.•. (C:Y�pt rata3c!melnt:�; <br />of record and visible e!asernents; that: Grantor has gomi right and <br />lawful aut.hor:.ty t.I "'orlvoy t'lle sdmc'2, suk>jeect- to the lure--rtrainrl <br />corlditions; cared that Gralr;t.c,r wrirrant:; :rervi w, l l ci.>fen�i the s, et fir <br />g,ltci 'vjain:rt. !hn± ! "iW11;1 <br />