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~t~= ~~~Q v. SELLERS' REMEDIES ON BUYERS' DEFAULT 1. Time is of the essence of this contract. 2. Buyers further agree that if they shall fail to pay any taxes or assessments levied or assessed against the real estate, or fail to pad. the premium of insurance, Sellers may pay said taxes, assessments or premiums, and the amount so paid shall be- come due and payable forthwith by Buyers to Sellers without notice or demand and shall become a part of the principal alance due and payable under this contract. 3• Sn all eases, time is the essence of this egntract and if default is made in any install;ent fer a period of `~ days, Sellers shall issue by registered letter, notice of rescission of this agreement. Buyers then have an additional fifteen (15? days to pay installment due. Sellers will be entitle" to immediate possession of said property with improeer,.ents thereon; and it is further agreed that each default in the pay:~ent of any subsequent. installment shall be a ?resh breach of this contract, and that. a failure of the Sellers to exercise their option at the time of any one default shall Trot operate tQ her thei r ri ~ ht r_~ pY.>rr± c~ tt,~j . of < ..h_ _- ~..~~ v-.. ~. .-.....tea v-p+aa .avn -a. uny .auY- aegaent default of the Buyers. letter addressed tc the Rnyers at 1B2R North Kruse, Grand Island, Nebraska, shall be sufficient notice of the exercise of such option by the Sellers. ~, Failure of Sellers to exercise any optiona3 remed'r hereby sp=cified at the time cf ~-n; default shall not eperate as a waiver at the right of Sellers _o. exercise such optional remedy for the same or any subsequent default at any time thereafter. Vl. This contract is personal and binding between t'~e Buyers and Sellers and is not transferrable wit.haut the express written conseT:t of each party, which consent shall not be urreascnahly withheld, YSI. COPfENJ~ITS GF THE SELLER ilpon payment of the purchase trice in full, wi*_h all interest thereon, and the nerfor:T•ance by Buyers ~^~f all covenants and condi- tians which, by the terms of this contract, are to be performed by Buyers, Seiiers agree anti covenan" to conveF~ the real estate to Buyers by Seed of general warranty, sub~ect,r;:~wever, to all eondi- tians, easements, restrictions and 3iTCitations ?f record to the rights oS persons in possession; to the tier. of all ur:paid taxes and assess- ments ~'or public improvements; and to an} other encumbrance which, ~;~ the tes~cs of this agree^~cnt, are to be paid by Buyers. ZiITl GE"7E.*~AL 3GRE~NT 0~' f'ART1nS Buyers and Sellers respectively bind their heirs, successors anti assigns to the faithful performance o the terms of this agreement. - 3-