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<br /> fI 10 m <br /> m ~ <br /> =-- CE <br /> [; t'\ Z "~ ::D <br /> C';;> <br /> l: ~ 0 = ("") (JJ rn <br />'" ~ ~ ~~ c::= 0-1 0 CJ <br />S ~ en CJ:> )> <br /> --' N <br />S ~ % ~ ~' c= ;z-i (J) <br />00 rt1 i- C') -If"'l1 a <br /> -<;:1' <br />s o -~ -<0 "'-- <br />-...J o'~ t-o 0-" 0 en <br /> -I <br />-" .." co '1z :JJ <br />c.n tt Cl) <br /><0 0 :r: rTl (:= <br /> rt1 t \J );> aJ C) :s.: <br /> rll ::3 r ;:lJ n-, <br /> 0 r);> -...J ~ <br /> en U1 <br /> c...J ^ I---' :2: <br /> );> U1 0 <br /> c..v ---- .---- <br /> 0 en c.D <br /> en <br /> <br /> <br /> <br /> <br />RE: Lots 1 and 2, Meadowlark West Fourth Subdivision <br /> <br />200807159 <br /> <br />DEVELOPER REPURCHASE AGREEMENT <br /> <br />~ <br /> <br />-' <br />co <br /><=' <br /> <br />c:.....l1lhis Developer Repurchase Agreement (the "Agreement") is made and entered into this <br />il-day of August, 2008, by and between VILLAGE DEVELOPMENT - GRAND ISLAND, <br />LLC, a Nebraska limited liability company, having a mailing address of 1045 Lincoln Mall, <br />Suite 300, Lincoln, Nebraska 68508 ("Owner"), and ALLEN WEBB ROAD LLC, a Nebraska <br />limited liability company, having a mailing address of P.O. Box 987, 1115 West 2nd Street, <br />Hastings, Nebraska 68902-0987 ("Developer"). <br /> <br />PRELIMINARY STATEMENT <br /> <br />Contemporaneously with the execution of this Agreement, Owner has acquired from <br />Developer Lots 1 and 2, Meadowlark West Fourth Subdivision, Grand Island, Hall County, <br />Nebraska, as surveyed, platted and recorded (the "Real Property") pursuant to the terms and <br />conditions set forth in the Real Property Sale Agreement dated October I, 2007, between the <br />Parties (the "Purchase Agreement"), which acquisition is evidenced by the recordation of a <br />Special Warranty Deed (the "Deed") from Developer to Owner, which was filed of record prior <br />to the recording of this Agreement. <br /> <br />Owner has agreed to grant to Developer certain options to repurchase the Real Property <br />and all improvements and appurtenances thereon, exclusive of movable equipment and fixtures, <br />inventory, signs and other personal property upon certain conditions. <br /> <br />TERMS AND CONDITIONS <br /> <br />NOW, THEREFORE, in consideration of the foregoing Preliminary Statement which is <br />incorporated in its entirety in this portion of this Agreement and other valuable consideration, the <br />receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows: <br /> <br />1. Option Event. The following shall be deemed to be an "Option Event": <br /> <br />1.1 Completion of Construction. In the event Owner or its successors and <br />assigns does not cause the substantial completion of a Walgreens Drug <br /> <br />~ <br /> <br />PROFEssrONAl TrTlE AND ESCROW CO <br />8535 EXECUTIVE WOODS DRIVE #300 <br />LINCOLN, NE 68512 ' <br /> <br />~o <br />J\ <br /> <br />t: Y ~3 V <br />