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___.._ . 82.:., ~1f?4~6 SPECIAL WARRANTY DEED The CITY OF GRAND ISLAND, NEBRASKA, a municipal corporation, herein called the "Grantor", in consideration of One Thousand Seven Hundred Dollars ($1,700.00) received from Grantee, does hereby grant, bargain, sell, convey and confirm unto FRONTIER PROPERTIES CORP., a Nebraska corporation, herein called the Grantee, the following des- cribed real property in Ha11 County, Nebraska: Lot Seven (7)), Block Eleven (11), College Addition to West Lawn, an Addition to the City of Grand Island, Hall County, Nebraska, hereinafter referred to as the "Premises". To have and to hold the above described premises unto the Grantee and to Grantee's heirs and assigns forever so-long as-the- Premises is used in conformity with the IJrhan Renewal Plan and the Community Development Plan of the City of Grand Island, Nebraska., and so Long as all the following conditions are met: 1. Grantee shall develop the Premises. herein conveyed for residential use. in accordance with Grantee's proposal to purchase said Premises, which proposal is on-file with the Community Develop- ment Agency, together with the final plans for said redevelopment approved by the Community Development Agency and chief building official of the City of Grand Island, Nebraska.. 2. Grantee shall begin construction of the improvements on the Premises within six (6) months from the date of this deed of conveyance, and said construction shall be completed within one (1) year from the date of this deed unless completion time is waived by the Director of the Community Development Agency as a result of acCs or conditions beyond the control of the Grantee. The resid- ential projecC-shall be deemed completed as of the date that the Director of Community Development Agency finally examines the Premises and finds it to meet the requirements of the plans and specificaCicins'proposed, submitted, and aaprove3 for the residential ~evel~xpment pursuant t+~ the lrban Renewal Plan and the Community D~uei~pmeni Ylan fvr the residential projecC.