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<br />83-JW5085
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<br />CONTRACT FOR INSTALLMENT SALE OF REAL ESTATE
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<br />THIS AGREEMENT, made on this 28th day of February, 1981,between
<br />Brad Booth and Fred HanisCh of lIall County, State of Nebraska,asSeller, arid
<br />Bernard G. Crist of Hall County, State of Nebraska, as Purcha!ler, is as
<br />followa:
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<br />Seller hereby covenants and agrees that if purchaaershallfirat.
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<br />make the payments and perform the covenants and agreements hereinafter set
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<br />forth to be made and performed by purchaser. that SeIfer will sell and convey
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<br />by general warranty deed to purchaser, and purchaser hereby agrees to purchase,
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<br />all the following described property, situated in the Conllty of Hall, and
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<br />State of Nebraska, to wit:
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<br />Lot Ei~ht (8) and Westerly One-Half (W'~) of Lot
<br />Nine (9) In FracUonal slock Tv.lve (i2) in
<br />Gilbert's Addition in the CIty of Grand Ialand,
<br />lIa1l County, Nebraska,
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<br />subject to ease~nts and restrictions of ,ecord, for the sum of $43,000.00,
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<br />which shall be paid as foUows: - the sum nf $500.00 shall be paid by Purchaser
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<br />to Seller upon the e.xecution of this Agreement, the receipt of which!.. hereby
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<br />aclwowledged, and the balance of $42.500.00 shall b.. paid as follows
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<br />a. $5.)00.00 in cash at preliminary closIng.
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<br />\). $37 .000.00 in eqlUli monthly installments of $421.00
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<br />per lllOnth principal and inarest I)lus 1/1.2 of the
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<br />annual insurance (currently $11,00 per month) and
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<br />u,xel! (rurr<mUy $5] .00 per lllOnth) for an initial.
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<br />cutsi pa~nt of $497.00 per month to be ,,,vised
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<br />,ullIually for any chall!!." in taxes and InsuralH:e.
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<br />c" 1:0 the f;,vent the prftp.a~nt: optiOlUi hel{)w have not been
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<br />exen:ls""', tit.. ;,siallC" shali l,,, du" in fuU at thl(;
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<br />end uf G-ne (1) Yt:4t'.
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<br />intere"t on the ,,"p4id blil.'ilKe shall b.. du.. and payable at 13%
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<br />par anuUlIl frOlll <late. if !:It{! cunt!nt ""'rtgall" holder, Co_rcl"I Federal
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<br />Saving" and L<",lU M6<>chtl,m, ""'..rcis.... it.. option under it,; due 011 aale
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<br />c.law.", In $Aid ...atgas"" the Purchas..r allt"''''' to pay the Seller as interest,
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<br />au &alOUllt "'1....1 to tll<;. new lut"'''8t rate r"'lllir..a of the Seller by their sub-
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<br />~quent !lK)rtgag.. holder or if such holder doeli Mt change, the new rate
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<br />1;0 the s.ulers,
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<br />The first deferred pa~t sl~1l be due and payable on the 1st
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<br />day of AprU, 1981 and Ii like dllIOunt shall be du.. and payable on the same day
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<br />of ea~h and every $Qntb th..reafter until all &m01l"t.. to be paid hereunder
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<br />are PA.ld tile full. Purchaser _'I pay any addition.al alllOunt on the principal at the
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<br />tille of any IllOnthly pa)'lllent, and elle interest shall cea..e on the additional
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<br />principal so paid.
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<br />Sell..r shall at his own expense l......diately furnish to Purch.."er
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<br />an 1.lpd&ted au.tract lIbowitlg _rkat;ilile title in the Sellen "",cept for eaSllIlIent..
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<br />~. relftd~tiQ.IlJfof ncord and the e",isting f irllt IIIOrtgajl,e. Purchaser shall
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<br />n.ve a rliti;llW~ble time tQe:KllIII'/'ne the /lame, and Seller "hall then have Ii
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<br />r~~l..tilMl to 4iatlsfy auy requiJ."_nu in order to mak.. the title
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<br />~.t'c;hant.1>le.
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<br />t>U.t'llna$er shall r,",etve PO"lIilcs!doU of said property Oil March 1,
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<br />19$1.
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