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~uu4~4~ within forty-five (45} days of receipt of notification from the Subdivider of intention to sell, said notice to include the name and address of the potential purchaser and the price offered therefor. It is expressly provided that if the City does not elect to purchase said property for the same price and enter into a contract to purchase said property, then such property shall be relieved o~ any further reservation for detention cell puposes. Failure of the City *_o exercise its right of first refusal shall. thereafter prohibit the acquisition of said real estate by the City of Grand Island unless done on a willing seller/willing buyer basis, or through the power of eminent domain. The Subdivider further agrees to grade all lots within the Subdivision in conjunction with the structures located thereon so that storm water will drain to the public right-of-way or proposed detention cell. 5. Warranty. The undersigned owner, as Subdivider, warrants that it is the owner in fee simple of the Land described and proposed to be Irnown as Spelts-Schultz Industrial Subdivision, and that an abstract of title will be submitted for examination, if necessary, upon request of the City of Grand Island. 7. This agreement shall run with the land and shall be binding upon and inure to the benefit of the parties hereto, their successors, assigns, heirs, devisees, and legatees. Where the term "Subdivider" i.s used in this agreement, the subsequent owners of any lots in the subdivision shall be reponsible to perform any of the conditions of this agreement if the Subdivider hot performed such conditions. Dated L ~~' i ~ ~ SPELTS-SCHULTZ LUMBER CO. OF,~.6~ND ISLAND, Subd~vid ~~~ Ffi%~ ~;~f / 6t, By Attest z s, fir:, Secretary CITY OF GRAND ISLAND, NEBRASKA A Municipal Corporation sy a e Kriz yor Attest R. L. .eta is City C er-I~c --