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<br />83- O~18to. <br /> <br />SPECIAL WARRANTY DEED <br /> <br />r <br /> <br />The CITY OF GRAND ISLAND, NEBRASKA, a municipal corporation, <br /> <br />herein called the "Grantor", in consideration of One Thousand Seven <br /> <br />Hundred Dollars ($1,700.00) received from Grantee, does hereby <br /> <br />grant, bargain, sell, convey and confirm unto <br /> <br />ELROD-WOOLWORTH CO., INC., <br /> <br />a Nebraska corporation, herein called the Grantee, the following des- <br /> <br />cribed real property in the City of Grand Island, Hall County, <br /> <br />Nebraska: <br /> <br />Lot Twelve (121, Block Seventeen (17), <br />College Addition to West Lawn in the <br />City of Grand Island, Hall County, Nebraska, <br /> <br />hereinafter referred to as the "Premises". <br /> <br />To have and to hold the above described premises unto the <br /> <br />Grantee and to Grantee's heirs and assigns forever so long as the <br /> <br />Premises is used in conformity with the Urban Renewal Plan and the <br /> <br />Community Development Plan of the (ity of Grand Island, Nebraska, <br /> <br />and so long as all the following conditions are met: <br /> <br />1, Grantee shall develop the Premises herein conveyed for <br /> <br />residential use in accordance with Grantee's proposal to purchase <br /> <br />said Premises, which proposal is on file with the Community Develop- <br /> <br />ment Agency, together with the final plans for said redevelopment <br /> <br />approved by the Community Development Agency and chief building <br /> <br />official of the City of Grand Island, ~ebraska. <br /> <br />2. Grantee shall begin construction of the improvements on <br /> <br />the Premises within six (6) months from the date of this deed of <br /> <br />conveyance, and said construction shall be completed within one (1) <br /> <br />year from the date of this deed unless completion time is waived <br /> <br />by the Director of the Community Development Agency as a result of <br /> <br />acts or conditions beyond the control of the Grantee. The resid- <br /> <br />entia I project shall be deemed completed as of the date that the <br /> <br />Director of Community Development Agency finally examines the <br />Premises and finds it to meet the requirements of the plans and <br />specifications proposed, submitted, and approved for the residential <br /> <br />development pursuant to the Urban Renewal Plan and the Commllnitv <br /> <br />Development Plan for the residential project, <br />