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<br /> vaid F?o.tgage and or certain Promittsory'Notc cif r+.vr;[a elute shrill
<br /> at the election of Mortagees cauno this Opt ton to hV- r"x0tci::e!c..
<br /> Zxercise. In arder to exeIci --tf~ t tris: [3p t.icrn, Secrand
<br /> Tarty s!iall <_:erve upon 1"first Party written notice of its exerc: 'e
<br /> ~eof, by personally notifyin:,l, or by mailiria, by ct- rtitied m a 11,
<br /> rot-ce of such exercise of option, to First Party at its address
<br /> i:.: r'19 nest 11th, Grand Island, NE 613801, or to such other person
<br /> or ad('ress as First Party shall direct in writing" Failure to ex-
<br /> brcise this `lption prior to midnight, Augoist 1, 1997, shall act
<br /> a^ a w..iver and termination of all of Second Party's rights hereunder.
<br /> 6 T i t I e Showina. AS Soon as rea:,onahly possible Mftc-r the
<br /> Qxercisc oaf this Option by Second Party, First Party, at its option.
<br /> sth311 furniuh to 5ocond Party an abstract or title insurance binder
<br /> to the oremiser, showing marketal.yle title in First Party, subject
<br /> only to the encumbrances herein described. Within ten (10) days
<br /> there.cfter, Second Patty shall furnish a title report to First Party
<br /> sI.owinq a reasonable opportunity to cc)rrr, Ct any title defects dis-
<br /> clo e d. b v said title report or, title Insurance commitmert.
<br /> Cluslny. Unless a different time c,r plac is mutually
<br /> -id in writing, the purchase hereunder shaI1 tie losed at 2.00
<br /> r M., t:P,T, at Investment Realty. 1713 South 11o1larid Drive, Grand
<br /> ,rIand, NE •,,ithin sixty (60) days of the exetc-ise c,f this Option.
<br /> A the time of closing, First. Party shish exchanyn a war ranr.y deed
<br /> v the premises and bill of sale for all furnishings and fixt.ur`~
<br /> ~e,ing purchased by Second Party, in exchange for the document, c`r.
<br /> cosh, which shall act as an expiration of this Option and termina-
<br /> -o-n of all further r,ichts hereunder, and all prior sums paid
<br /> u.^.'Cr this Option are hereby forfieted.
<br /> 8. Ccndition of Premises. First Party m%akv no warrant ivr•
<br /> :ac tir.a the condition of the premises f-xcejo, that at ~rlras;tno th
<br /> 111 ae free Inc' clear from any encumbrances or security agreements
<br /> C e!' to}' irs, PaCtN. Second !!arty w"ball fr`[Ir?iV« +ra;d p[(! laCti
<br /> ct to t*? same conditions and diyc.Idimets; of First Party as
<br /> 1~re a- avieed in the original 'Piirchase Ar:reement dzted June 16,
<br /> l?22. First Party shall pay any and all taxes, special levies
<br /> ,:,nd cr assessments becoming due prior to closing of this +:ptior~
<br /> and any taxes, special levies or assessments becoming due ther•aafter
<br /> a ;d which -were place upon premises before closinct of this Opt ion.
<br /> 9. ;ssi:tnr;sent. Second Party shall have th-~- right to assign
<br /> this ^ption without prior notice or approval of First Party.
<br /> 10. Joint 'T'enancy. The rights received hereunder by Second
<br /> .'art, are taken by them as joint tenants and not as tenants in
<br /> ,,)mmon, with full rights of survivorship-
<br /> 11. Cooperation. Each party hereby agrees to sign, execute,
<br /> aci,nowledge anw deliver any and all certificates of title, deeds or
<br /> -ttier documents or papers necessary or appropriate and to do all
<br /> ether acts necessary or expedient to fully carry out and fultill
<br /> tt:e terms, pro'-isions and intentions of this Option.
<br /> 12. Miscellaneous Provisions. One or more waivers of any
<br /> -:ovenants, conditions, rules or regulations by First Party shall
<br /> rat be construed as a waiver of a further breach of the same or
<br /> ci£ferent kind at anv other time. The paragraph captions of t`.is
<br /> G;.tion are for reference purposes only and shall not be considc-red
<br /> as indi.catii,g the parties' intentions regarding the resnectiv,+,
<br /> -ragraphs nor in any way affect their' construction. No alterations:
<br /> .Nr -codifications of any part of this Option or waivers of any of
<br /> it- provisions shall be effective or enforceal'•le against any parties
<br /> uninss the same shall l:e made Tn writing and :!signed by the pi.rLy
<br /> he charted.
<br /> 13. 3in,ing Effect. Subject only to the r:rcvistans r"f ;•ora-
<br /> ^.raph ° hereofthe covenants. conditions and .agrf-!#:, rents conta:.n#-.d
<br /> ~erFZir„ except as heroin otherwarte provided, shall hind and itre:ro
<br /> c, t'-,e benef tt r-f the respect.1ve parties' heirs., suressors and
<br /> assi:n`;.
<br /> the execution hereof thi&,.~
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