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I EXHIBIT "A" r 84 -v 002527 OPTION AGREEMENT ~ ELMER J. KROLL and LAVAUN KROLL, husband and wife, heretn~ after referred to as FIRST PARTY, hereby grant to LOUIS JANKOVITZ, single, SECOND PARTY, an option to purchase the following described premises upon the following terms and conditions: I. The consideration for this option is One Thousand DollaTs ($1,000.00), receipt of which is hereby acknowledged by First 2. The premises is legally described as: Lot Five (~) and the Westerly Twenty- Two Feet (W22') of Lot Six (6), Block Twenty-Nine (29) in the Original Town, now City, of Grand Island, Hall County, Nebraska, together with all improvements and personal property located the're.,. on except improvements and personal property owned by FirstParttes':o 3. This option shall be void and of no further effect tenants. less it is exercised prior to December IS, 1980, which is referred to as the Exercise Date. This option may be exercised onloy"by,"" Second Party giving First Party written notice of the exercise prior to 5:00 o'clock p.m. on the Exercise Date. Notice shall be complete only if timely and accurately received by First Party. 4. If the option is exercised, the purchase price of the premises shall be Sixty-Five Thousand Dollars ($65,OOO.OQ). .pay.. able as follows: A. One Thousand Dollars ($1,000.00) upon execution of this Agreement, to apply on purchase price. ~41;J.1 '1- /.,. -/?-~, B. Fourteen Thousand Dollars ($14,000.00), payable on Closing Date which shall be January 2, 1981~ ~/"7~Z~ I-;l-Itl C. The balance of Fifty Thousand Dollars ($50,000.00) shall be payable as follows: ~ (1) $5,150.00, interest only~ on January 2, 1982. (i i) $5,150.00, interest only, on January 2. 1983. (Hi) $5,150.00, interest only, on January 2, 1984. (Lv) $5,150.00, interest only, on January 2, 1985. (v) $12,500.00 princIpal, plus inte-rest) at 10 percent per annum on the unpaid pl:i.ncipal balcluce, paY~lbl(' on January ') 1986. ~ .