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<br /> Z*hibit "A*l
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<br /> REAL' ESTATE OPT104V 84 o00294
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<br /> FOR vnLtlF CONSIDERATION, the undersigned. Robert A. Meyer
<br /> and 4la.vian G.' Meyer, hu,xbwnd and wife and each in his trod her
<br /> own eight, hereinafter called "First. Party", doe, hereby ,7rant
<br /> unto Leo E. modelski and Barbara Mortensen Modelski, husband
<br /> and wife and each in his and iaer own right, hereinafter catled
<br /> "Second Party", an exclusive caption to purchase the following
<br /> described real esulate, to-wit:
<br /> Lot Seven (7) of County Subdivision of part of the
<br /> South llaif of the Southeast Quarter (SiSE4) of Section
<br /> Sixteen (16), Township l,leven (11), Ranqe Nine(9)
<br /> situated in Grand Island, Nall County, Nebraska.
<br /> teether with all tenaments, hereditaments and appurtenants: thereto
<br /> belonging and personal property of First Party now therein, specif-
<br /> ►cz~lly described as: range on main Clcor, refrigerator in basement,
<br /> all floor coverings attached art,! ur:attached.
<br /> subject; however, ,:o all covenants, restricti•7ns, easements and
<br /> reads, streets, highways, si3ewaiks and private rights-of-way of
<br /> record, all applicable zoning and subdivision ordinances and
<br /> l:mitatci, s nc,.; the.eon or hereafter plat:ed thereon, and all
<br /> encumf)rance.= cla.t:red or obtained through the. Second Party for the
<br /> cor,siderr.tion and subject to the trams and conditions hereinafter
<br /> Epecified.
<br /> 1. TERN- Unless sooner lawtully :erminated as herein provided,
<br /> this Option shall extend for a period of five years from the 30th:
<br /> day of Jul;:, 1982, and shall expire, if ~iut then exercisers as herein
<br /> pr(- ided, at 12:00 midnight, on August 1, 1987.
<br /> 2. Consideration. The total purc-iane-price for said premises
<br /> shall be $35,510.00. Against this sum S,Dcond Party shall be entitled
<br /> ro the sum of the following credits:
<br /> A. The sum of ONE DOLLAR ($1.00) cash represented by the
<br /> initial consideration and payment by Second Party for this Option,
<br /> receipt of which is acknowledged by the First Party. Said $1.00
<br /> is :ion-refundable, but will be applied as a credit against the
<br /> total purchase price of the premises as set forth in paragraph i
<br /> of this Option.
<br /> B. An additional credit shell he granted :n the form of
<br /> a Real ::state Mortgage in the amount of Eighteen Thousand and
<br /> .x,'100 Dollars ($18,000.00) between the parties for the a Jve-
<br /> ^scribed premises. Said Mortgage to be valued as per principal
<br /> 'valance as of date of closing of this Option. i
<br /> 3 Financing. I
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<br /> A. Assumption of Mortgage. Second Party may assume the
<br /> balance of the S17,510.00 note remaining at the time of closing
<br /> of this option. It is understood that said note is freely
<br /> 3s,signabl.e by First Party.
<br /> 5. Paynent of balance of equity. Second Party shall be
<br /> ,iven the option of satisfying the balance owed to First Party
<br /> by either payment in cash and/or installments based on not more i
<br /> than 6% per annum `or a period of ten years. Such obligation
<br /> shall be in the form of a Promissory Note, unsecured, and shall
<br /> grant Second Party the right to assign freely without prior
<br /> a-prca l and to vrepay any or all monies at any time without
<br /> penalty with the understanding that, any such payments shall tirst
<br /> crejited to interest and then to the unpaid balance.
<br /> Termination. Concurrently with the execution hereof,
<br /> rzrst Party is executing a Real Estate Mortgage to Second Patty.
<br /> Pav:rzents tieing made under that agreement are being considered-
<br /> in rart as .ncrease in equity of First Party and any breach of
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