Laserfiche WebLink
<br />r <br /> <br />83- 0-01453 . <br /> <br />T. The holder of any mortgage authorized by the Director of <br /> <br />the Community Development Agency, including any holder who obtains <br /> <br />title to the Premises or any part thereof as a result of foreclosure <br /> <br />proceedings or action in lieu thereof (but not including: <br /> <br />(a) any other party who thereafter obtains title to the <br />Premises or such part from or through such holder; <br />or <br /> <br />(b) any other purchaser at foreclosure sale other than <br />the holder of the mortgage itself,) <br /> <br />shall be obligated by the provisions of this deed to construct or <br /> <br />complete the construction of the improvements, or to guarantee such <br />construction or completion. Nothing in these covenants or this deed <br /> <br />shall be deemed or construed to permit or authorize any such holder <br /> <br />to devote the property or any part thereof to any uses, or construct <br /> <br />any improvements thereon other than those uses and iwnrovements pro- <br /> <br />vided or permitted in the Urban Renewal Plan or Community Develop- <br /> <br />ment Plan of the City of Grand Island. <br /> <br />8. Grantee shall not protest the creation of any improvement <br /> <br />districts, including but not limited to paving, sanitary sewer, <br /> <br />water main, storm water drainage, or sidewalks, which may be cLeated <br /> <br />in or adjacent to the Premises for which the Premises may be subject <br />to the levy of special assessments. The foregoing prohibition shall <br />not prohibit the Grantee from objecting to the amount of any such <br /> <br />special assessment which may be levied against the Premises. <br /> <br />This deed shall convey to Grantee an estate in fee simple <br /> <br />determinable, and in the event of breach, the possibility of <br /> <br />reverter shall invest in the Grantor herein, the City of Grand <br /> <br />Island, Nebraska. <br /> <br />Grantor hereby covenants with Grantee and with Grantee's heirs <br />and assigns that Grantor is lawfully seized of said Premises; that <br /> <br />they are free from encumbrance, except easements of record and vis- <br /> <br />ible eAsements; that Grantor has good right and lawful authority <br /> <br /> <br />to. convey the same, subject to the foregoing conditions; and that <br /> <br /> <br />Grantor warrants and will defend the title to said Prem~ses against <br /> <br />the lawful claims of all persons whomsoever. <br /> <br />- 3 - <br />