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<br />-2- s2-c~a4a7- <br />H. To pay all mortgage and insurance payments before the <br />the same becaae delinquent. <br />7, Buyer shall be entitled to possession of the premises upon the <br />Ciosi.ng of this transaction. The Closing shall be on or befbre 6D days <br />after the date of this Agreement, provided that the ccnti.ngencies stated- ici <br />~k5-above have been satisfied by the Buyer. The exact time and place of <br />CLosing shall be negotiated between the parties. <br />8. The parties agree that the Seller will provide at its expense <br />a policy of Title Insurance showing the Buyer as insured and showing the <br />premises to be free and clear of all liens and encumbrances except easements <br />and restrictions of record. The cost of a title insurance loan policy for. <br />any mortgage lender shall be paid by Buyer. <br />9. Seller agrees to pay the real estate taxes for 1481 ALI <br />of the 1982 real estate taxes and subsequent years' taxes shall be paid by <br />Buyer. <br />10. Buyer acknowledges that Buyer has inspected the premises and accepts <br />the same in its present condition. Buyer acknowledges that Sellers agents or <br />employees have made no representations to the Buyer as to the condition of <br />the premises pursuant to this Agreement and as stated in Exhibit "A". <br />11. Risk of loss to the premises shall be upon Seller until the time <br />of Closing. After Closing, risk of loss shall be upon Buyer, and Buyer shall <br />insure the premises against casualty loss for the reasonable value of the. <br />premises. <br />12. Upon Closing, Seller agrees to convey the premises to Buyer by <br />Special Warranty Deed, f-ree and clear of all liens, taxes, and encumbrances <br />except easements and restrictions of record; provided that, said Deed shall <br />convey to Buyer an estate in fee simple determinable, and. in the event <br />of breach of any of the covenants contained in this Agreement, the possibility <br />of reverter shall vest in the Seller herein, the City of Grand Island, Nebraska. <br />13. 'Dime is of the essence of this Agreement. A11 covenants and <br />conditions contained herein shall he binding upon and inure to-the benefit <br />of the parties hereto, their respective heirs, personal representatives, <br />successors and assigns. <br />Dated: 1982 <br />T11E CITY OF GRAND ISLAND, NEBRASKA <br />A Municipal Corporation <br />L`4.r-~„~' - _ ~. <br />or Title- <br />SELLER <br />Danny Gene Miller BUYER <br />