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x, 79-- ~ +~'~~.~~ CONTRACT FOR SALE OF REAL ESTATE This Agreement made ~~ 1979, in Grand Island, Hall County, Nebraska, by an between DUANE A. OBERMEIER and BONNIE L.A.OBERMEIER, husband and wife, and A. W. BECKLER and JUDITH BECKLER, husband and wife, hereinafter called "Sellers," and Scott_C. Lane ___Cindra K. Lane hereinafter referred to as Bu~T` yer~' In consideration of the covenants made to each tither, as herein set forth, the parties hereby agree as follows: 1. The Sellers shall sale and convey and Buyers shall purchase, on the terms and conditions hereinafter set forth, the real property, together with improvements thereon, as located in Grand Island, Halt County, Nebraska, legally described as follows: The North€rly one-half of Lots One (1) and Two (2} in Block Sixty-eight (68) of Wheeler and Bennett's Second Addition in the City of Grand Island, Hail County, Nebraska. 2. Full purchase price for the real property is the sum of Twenty-four Thousand Dollars ($24,000.00) payable as follows: a. The sum of Two Thousand four Hundred Dollars ($2,400.00) on the date of the signing of this Agreement. b. The balance of the purchase price, Twenty-one Thousand Six Hundred Dollars ($21,600.00) shall bear interest at 10~" per annum over a period of twenty (20) years with the paid in full balloon payment being made on August 10, 1480 for the entire sum of principle and interest. The principle aad interest will be paid in the sum of Two Hundred Fifteen n.,,,,,..., -~ .~iintj °`. 'a,:±g (~?1S.iir`i! nn S2ote(ftber lfl, ~~>'~, and uV i 1a~ ~ u'i~~ ' a similar sum on the~lOth day of each a¢nd every month there- after during the ent7f~ Lerm of the Can l.ra~~. 3. That in addition to the monthly payment of principle and interest, Buyers shall pay to Sellers the sum of Thirty Dollars ($0.00) per month which shall be payable for taxes and insurance so long as the title in Sellers name. 4. On the date of the signing of this Agreement, Sellers shall execute a Warranty Deed for the real estate at the purchase price herein described to Buyers in the names of which Buyers direct. The Warranty Deed shall be held in Escrow by Beckler Realty and Insurance and shall he delivered to 8uyers after receipt of the balloon payment by Sellers on August 10, 1980. Should Buyers default in the payments hereunder, the Escrow agent is under no obligation to deliver the Warranty Deed to Buyers but shall, at Sellers demand, return the Warranty Deed to Sellers. 5. Upon default of any payments as herein described by Buyers, within thirty (30) days of default date, the amaun± declared in default between the Sellers and Buyers and Buyers' rights under this Contract shall become null and void. All payments made from 8uyers to Sellers on the real estate shall be forfeited to sellers and the Escrow agent shall deliver the Warranty Deed back to Sellers for destruction. All sums paid by Buyers to S~11ers shall be default payments and Buyers hereby voluntarily acknowledge they will be foreclosed from any and all interest in the real estate upon such default.