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AGREEMENT FOR PURCHASE OF LIFE ESTATE IN REAL ESTATE KNOW ALL PEEN BY THESE PRESENTS: The undersigned Seller hereby sells to the undersigned Buyer, the following described real estate for the price and upon the teams and conditions herein set forth, and the undersigned Buyer hereby aecegts said terms and conditions, agrees to pay the purchase price, and covenants to perform the obligations of the Buyer hereunder. 1. The Seller is: THE CITY OF GRAND ISLAND, NEBRASKA, A Municipal Gorparatian. 2. The Buyer is (whether one or mare}: Winifred V. Burmood, a widow, as a tenant for life 3. The Iegal description of the real estate (premises) is: -- North One-Half iN 1/2) of Lot One (1>, and North One-Half (N lj2) of Lat Two (2}, Block Eighteen (18), Original Towa of Grand Island, xa11 County, Nebraska together with all improvements located thereon. 4. The purchase price is One Dollar---($1.00)---, payable at Glosing. 5. The campletion of this Contract shall be contingent upon the sale of the premises being approved by the Community DeveloYment Agenc y Board and the Gity Council of Grand Island, Nebraska. 6. Buyer covenants to perform the following obligations: A, To pay Seller, beginning upon Buyer's possession of the premises, a monthly amount not to exceed twenty-five percent (2581 of Buyer's gross income. Such monthly payments shall be construed as Buyer's payment far reimbursement to Seller for rehabilitation of the premises, the total amount f or which is $20,633.00. B. To pay all real estate taxes and special assessments before the same become delinquent. C. To gay all casualty insurance premiums and utility charges before the same become delinquent. D, To maintain a neat appearing grass lawn and to avoid the storing of garbage, trash, or refuse on said lawn and yard. E, Ta live on the premises. '1. Buyer shall be entitled to possession of the premises upon Blosr'ng of this transaction. The Closing shall be within thirty f3©} days-after Seller has completed rehabilitation of the premises. The- exact time and place of Closing shall be na~yotiat ksst~een the par-ties. 8. Risk of loss to the premises shall be upon Seller until the. time of Closing. After-Closing, risk of loss she 11 be upon Buyer, and Buyer sha1L insure the: gremises against casualty loss for the reasonable value of the premises naming the Seller and Huyes au insureds as their interests may appear, 4. Seller agrees to pay the real estate texas for 1982. All of the 1983 real estate tare- acid- suequent years' taxes, if any, shall k~c paid by Huger.