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<br />I <br /> <br />83_001764 <br /> <br />AGREEMENT FOR PURCHASE OF REAL ESTATE <br /> <br />KNOW ALL MEN BY THESE PRESENTS: <br /> <br />The undersigned Seller hereby sells to the undersigned <br />Buyer, the following described real estate for the price and upon <br />the terms and conditions herein set forth, and the undersigned <br />Buyer hereby accepts said terms and conditions, agrees to pay the <br />purchase price, and covenants to perform the obligations of the <br />Buyer hereunder. <br /> <br />1. The Seller is: THE CITY OF GRAND ISLAND, NEBRASKA, A <br />Municipal Corporation. <br /> <br />2. The Buyer is (whether one or more): <br /> <br />Georgia M. Davis, a single person <br /> <br />3. The legal description of the real estate (premises) is: <br /> <br />Lot Two (2), Block Twenty-Nine (29), Original Town <br />of Grand Island, Hall County, Nebraska <br /> <br />4. The purchase price is One Dollar---($l.OO)---, payable <br />at Closing. <br /> <br />5. The completion of this Contract shall be contingent upon <br />the following: <br /> <br />A. Buyer qualifying for a Nebraska Mortgage Finance Fund <br />loan through the Commercial National Bank of Grand <br />Island, Nebraska, or Superior Mortgage Company, Grand <br />Island, Nebraska, in the amount of $17,414.00, within 30 <br />days from the date of this Agreement. <br /> <br />B. The sale of the premises being approved by the Community <br />Development Agency Board and the City Council of the <br />City of Grand Island, Nebraska. <br /> <br />6. Buyer covenants to perform the following obligations: <br /> <br />A. To begin remodeling construction on the premises <br />within 30 days after Closing, such construction to <br />be performed pursuant to specifications shown on <br />Exhibit "A", incorporated herein by reference. <br /> <br />B. To complete remodeling construction on the premises <br />within 18 months after Closing. <br /> <br />C. To live in the premises for three years after <br />Closing. <br /> <br />D. To permit Community Development Agency employees to <br />monitor the construction work on the premises during <br />rehabilitation. <br /> <br />E. To plant and maintain a neat-appearing grass yard <br />and to avoid the storage of garbage, trash, or <br />refuse on said yard. <br /> <br />F. To pay all real estate taxes and special assessments <br />before the same become delinquent. <br /> <br />G. To pay the documentary tax and recording fee for <br />recording the Buyer's Deed. <br /> <br />H. To pay all mortgage and insurance payments before <br />the same become delinquent. <br /> <br />1 <br />