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<br />I" <br /> <br />83-006102 <br /> <br />r <br /> <br />7. Buyer shall be entitled to possession of the premises upon <br />Closing of this traosaction. The Closing shall be on or <br />before 150 days after the date of this Agreement, provided <br />that the contingencies stated in #5 above have been satisfied <br />by the Buyer. The exact time and place of Closing shall be' <br />negotiated between the parties. <br /> <br />8. The parties agree that the Seller will provide, at its <br />expense, a Pol icy of Title Insurance showing the Buyer as <br />insured and showing the premises to be free and clear or <br />all liens and encumbrances except easements and restr-ict.!()ns <br />of record. The cost of a title insurance policy for any <br />mortgage lender shall be paid by the Buyer. . <br /> <br />9. Seller agrees to pay the real estate taxes for 1982. All <br />of the 1983 real estate taxes and subsequent years' taxes, if <br />closing is on or before December 31, 1983, shall be paid by <br />the Buyer. <br /> <br />10. Buyer acknowledges that Buyer has inspected the premises and <br />accepts the same in its present condition. Buyer <br />acknowledges that Seller agents or employees have made on <br />representation to the Buyer as to the condition of the <br /> <br />11. Risk of loss to the premises shall be upon Seller until the <br />time of Closing. After Closing, risk of loss shall be upon <br />Buyer, and Buyer shall insure the premises against casualty <br />loss for the responsible value of the premises. <br /> <br />12. Upon Closing, Seller agrees to convey the premises to Buyer <br />by Special Warranty Deed, free and clear of all liens, taxes, <br />and encumbrances except easements and restrictions of record; <br />provided that, said Deed shall convey to Buyer an estate in <br />fee simple determinable, and in the event of breach of any of <br />covenants contained in this Agreement, the possibility of <br />reverter Shall vest in the Seller herein, the city of Grand <br />Island, Nebraska. <br /> <br />13. Time is of the essence of this Agreement. All covenants and <br />conditions contained herein shall be binding upon and insure <br />to the benefit of the parties hereto, their respective heirs, <br />personal representatives, successors and assigns. <br /> <br />Dated: '>#,P- Li, ,,-to .:; 'f <br /> <br />, 1983. <br /> <br />THE CITY OF GRAND ISLAND, NEBRASKA, <br />A Municipal Corporation, <br /> <br />/'..'). <br />/~- <br /> <br />B1f~r'fh;/7-- <br /> <br />/ \ <br /> <br />SELLER <br /> <br />By Br~~t'A-l\An ~ii{~rn <br /> <br />lrkU,- \ <br /> <br />BUYER <br /> <br />