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<br />83-iJ 0 5 056
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<br />LAND CONTRACT
<br />
<br />~ .This contract madp Rnd pnterpd into this /~lZ:, day of
<br />/1'2:/,""/1, 191\3, by and b"t':een John Cler and Esther CIer,
<br />fHl, and a;:;(f1Wif" , of Wood River, Hall County, NebraskA, seller!'!,
<br />herpinafter call"d "Cler", and Gar!'!t Seed, Company, a limited
<br />partnership. af Coan Rapi(h, Cl1rroll County, Iowa, buyer,
<br />herpinafter cal I "d "G,1rst", as fa 11 O>lS ,
<br />
<br />Whereas, Clrr is thr awn"r pf the following described real
<br />estate, to-wit:
<br />
<br />The SOllth>lpst QII<lrter of thl' Southwest Quarter of the
<br />Southeast Ql1artE'r (SW~ SW~ SE~) a( Section Twenty-seven
<br />(27), T0,mshir Elpvpn (lJ), R"nRe Eleven (11), Hall COllnty,
<br />Nebraska,
<br />
<br />said real estat" consisting af 10 ncr"s, more or less, and,
<br />
<br />Wherpas, eler dpsirp9 to spll and Garst dpsires to purchase
<br />said rpal pstatr nlong ,"i th all hl1ildings and farm structures
<br />situated then'on .1nd all irrip,ntian pql1ipment situated on said
<br />propprty and sitl1at"d 0n adjacent property heretofore owned hv
<br />Clpr. with pos~pssion to hp dt;...J lv("ft"d to CarBt on Mnrch 1, 19Rh.
<br />
<br />Now, Theref0rf' It Ig llerf'by Ag"f'ed th;1t Cler sells to Garst
<br />and Garst, in considernti0n uf th~ prpmi$es herein contained,
<br />purchases from eler the nhove descrih"d reAl estatr together with
<br />all huildings, strUC!llTf'S, fix!nre"" "';tter system and irrigation
<br />equipment !-;ituntr'd <lrl ~~ajd rr-;:11 ;~~tHt(' Rnd sitl,lDted on land Qt....npd
<br />hy Cler which lnnd is AdjAcpnt In the above descrihpd real
<br />estilte, along with all millernl ri!:hts of illl kinds whatsoever in
<br />and under said rp.11 ('sL"lp. .111 "l",n the following t"rms and
<br />c:onditi()ns: .
<br />
<br />A, The tot~l purch'lSl" pric!' for s;'Jid real estate is One
<br />Hundred Twelve Thpusilnd fJollnrs ($112,000.00) p;tyahle at
<br />Wood River, Nehr:lska. as foil f'WS: Downpayment of Twel Vf'
<br />Thousand Oollnrs ($12,000.00), receipt of which is herehy
<br />acknowledged by C]pr, and the balAnce of said purchase pricp
<br />in the amount of Onp !Iundrpd Thousand Dollars (SIOO,OOO.OO)
<br />to be due and payahle on March 1,1984.
<br />
<br />B. Garst shsll, concurrently with due performance on thf'ir
<br />part, be entitled to possession of said premises on March 1,
<br />1984, said premises to be in its present condition, ordinary
<br />wear and tear excepted, subject to the provision hereinafter
<br />contained relating to losses covrred by insurance,
<br />
<br />C, Cler agrees to main!::Hin at his own expense a minimum
<br />amount of insurance as presently coverins said real estate
<br />and to notify Garst as to the amollnt of ,nsurance presently
<br />covering said property, with loss royable clause to Cnrst DS
<br />their interest shall "ppc'[lr, in case of loss or destruction
<br />of pert or all of the improvements on said premises from
<br />causes covered hy standard fire and pxtr>nned COVefl11!.p
<br />insurance and in case of loss or destruction of rart or all
<br />of said improvements from O'LlS/'R cov('red by said insurl'lnce,
<br />Garst agrees to accept said insurance recovery in lieu 01
<br />the damaged or destroyed improvements and Cler shall not hp
<br />required to repair or repJ.acp samE'. Garst "ha II !lH'r,'upc'n
<br />complete thE' Cl'mtr.:lct and ',,'u'P' the properlv,
<br />
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