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84 --- c,u0$75 <br />INSTALLMENT LAND CONTRACT <br />This agreement made and entered into this 15th day of February, <br />1984 by and between FRED w. HARB, M.D. AND ELIZABETH HARB,~hus'band <br />and wife hereinafter referred to as "Seller", and H, J, F & S <br />PARTNERSHIP, a Nebraska General Business Partnership, composed of <br />STEVEN L. HUSEN, M.D., MARK E. JANULEWICZ, M.D., RICHARD M. FRUEHLING, <br />M.D. and GARY L. SETTJE, M.D., hereinafter referred to as "Buyer" <br />whether one or more. <br />W I T N E S S E T H: <br />Seller hereby agrees to sell and convey to Buyer, and Buyer hereby <br />agrees to purchase from Seller, the following described real estate, <br />hereinafter called "the Real Estate" and legally described, to-wit: <br />Lots Nine (9) and Ten (10) in B'loclt Ten (10), Original. <br />Town of Cairo, Hall County, Nebraska <br />upon the following terms and conditions: <br />I <br />THE PURCHASE PRICE AND MANNER OF PAYMENT <br />1. The Purchase Price. As the purchase price for the Real <br />Estate, Buyer agrees to pay to Seller, and Seller agrees- to accept from <br />Buyer, the sum of Forty-Five Thousand Dollars ($45,000.00). <br />2. The Manner of Payment. The purchase price shall be paid in <br />the following manner: <br />(a) The sum of Five Thousand Dollars ($5,000.00) to <br />be paid by Buyer to Seller at tfie time of <br />the execution and delivery of this Contract <br />and the receipt of such sum is hereby acknowledged <br />by Seller. <br />(b} The remaining sum of Forty Thousand Dollars <br />($40,000.00) shall be paid in two equal annual <br />installments of Twenty Thousand Dollars ($20,OOOc0.0} <br />each due on February 15, 1985 and February 15, <br />1986 respectively. <br />(c) The payments due on February 15, 1985 and <br />February 15, 1986 shall earn interest at the <br />rate of twelve percent (12~) simple interest. <br />Interest on all outstanding balances shall <br />be paid quarterly, commencing=May 19; 1984: <br />(d) The Buyer shall have the right to prepay any amount <br />of principal hereunder. <br />(e) Should Buyer fail to make any payment due hereunder <br />within five (5) days of the due date, the Buyer <br />agrees to pay an additional Thirty Dollar ($30.00) <br />late charge per each month delinquent on each <br />such payment. <br />(f) Should Buyer fail to pay the balance of this <br />Contract when due, then the unpaid balance-shall <br />bear interest at the maximum legal rate during the <br />period of delinquency. <br />(g) All payments due hereunder shall be made at such place <br />as Seller may designate. <br />