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200804564 paid in arrears. Seller reserves the right to pay any taxes or assessments, and to bill Buyer for full reimbursement, and if such become delinquent thirty days past notification to Buyer, then the amount expended shall become a lien on the Premises, and Seller may add said amount to the principal balance remaining on this Contract, said amount to be due at once, and to bear interest at 10 per cent per year. Income from the property. Any and all income generated from the property shall be retained by the Seller for the year 2007. Any and all income generated from the property including pasture rent, crop and/or other generated income shall be retained by the Buyer commencing upon execution of this agreement in January 2008 forward. Contingencies related to death of Buyer or Seller. In the event of the death of either Buyer or Seller this contract shall remain in effect. . Buyers agree to maintain life insurance policies sufficient to allow Buyers beneficiaries/heirs to complete the land purchase agreement. . Death of the seller shall not alter this contract, the sale, or the installment periods. Upon the death of Seller, Buyer is to redirect payments/installments to Seller's children. Seller directs that the payments/installments be evenly divided amongst her three children and continue to be made on monthly or annual basis. Failure to Perform. If Buyer shall have failed to perform any of the Covenants or Conditions contained in this Contract, specifically in the event Buyer fails to make 6 monthly $500.00 installments or through a combination of missed monthly and annual installments accrues a deficiency of$3000.00, the parties agree the property may be placed for sale. . Default and voluntary sale. In the event of voluntary/agreed upon sale, the parties agree Seller shall be compensated for all back (delinquent) payments and any funds remaining on the contract (unpaid portion) to ensure Seller is fully compensated under the contract. Any proceeds that exceed the contract amount due and owing shall be proceeds of the Buyer. . Other delinquency/default. Upon a default or delinquency exceeding $3000.00, Seller may enforce her rights under this Contract of the State of Nebraska, or may enforce this Contract in any other manner now or hereafter provided. All written notices permitted or required by this Contract to be given to the parties hereto shall be at their respective mailing locations listed hereinabove. Said notices shall be by First Class mail of the United States of America, and shall identify this Contract by DATE, PARTIES, and DESCRIPTION. Either party may change such location by giving written notice to the other Party specifying the new location. All buildings, trees or other improvements now on said Premises, or hereafter made or placed thereon, shall be considered a part of the Premises, and shall be security for the performance of this Contract, and may not be removed therefrom, except as may be necessary to improve Premises by constructing a driveway or building site. Buyer shall not commit, or suffer any other person to commit, any waste or damage to Premises and shall keep Premises in its new and/or improved condition. Buyer shall, during the continuance of this Contract, keep insured against loss by fire and windstorm, any buildings on Premises in the name of Seller, for such 2