83004975 - Laserfiche WebLink

Browse

r- 83- 004975 r 4. All ,payments under this contract, either principal or interest, shall be paid to the Seller at 2605 Cottonwood Road} Grand Island, Nebraska 68801, or in such other fashion or at such other place as Seller may designate in writing. II. Taxes and Possession A. Seller agrees to pay the general taxes on the real estate for the year 1982 and all prior years, and Buyer agree's to pay the general taxes on the real estate beginning with the taxes due for the year 1984 and all subsequent years. The real estate taxes for the year 1983 shall be prorated between the SE;lller and the Buyer to date of closing. The Seller shall pay all assess- ments that have been levied as of the date of possession, and the Buyer shall pay all assessments levied from and after said date. The Buyer shall provide the Seller on an annual basis with a receipt for the payment of all said taxes and assessme.nts to be paid by the Buyer as evidence that such taxes and assessments are paid in full. B. Seller agrees to place Buyer subject property on in possession of the , 1983. C. Buyer agrees that if he shall fail to pay before they become delinquent, anY taxes against. t:he real estate for the year 1984 or any subsequent year, Seller may pay said taxes and the amount so paid shall become due and payable forthwith by the Buyer to the Seller without notice or demand and shall become a part of the principal due under this contract. HI. Title A. Seller agrees to furnish Buyer with an abstract of title showing merchantable title to tl';e real estate within ten (101 days after the execution of this agreement. In case the' Buyer's attorney makes Objection to the title of Seller as shown by such abstract of title, the Seller shall have a reasonable time in which to correct any valid defect of title. If Seller fails or refuses to correct any meritorious defects in his title, Buyer shall be entitled to rescind this contract and receive back from Seller all payments made hereunder or Buyer may make said corrections and deduct the reasonable costs and expenses thereof from the balance due hereunder to Seller. B. The parties aCknowledge that title to the real estate is subject to a first mortgage in favor of H. William Desch, Jr., as the Mortgagee. Seller agrees to continue to make the monthly mortgage payments thereunder until the mortgage is paid in full and to secure a release of said mortgage upon the maturity of this contract. In the event that Seller fails to make any of -,- L L ~ ,ic u ..-1