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(~ i7i}-rW~i~l four i24) hours after the same has been deposited in any United States Post Office or mailbox in the County of Hall, State of Nebraska, or forty-eight (48) hours after deposit in such Post Oftice or mailbox in any other locale. 4. Purchase Price. The purchase price of the real property as described above, shall be determined by an independent appraiser wha shall be appointed by the mutual consent of the optianor and the optionee or their legal representatives. The ogtionor and optionees specifically agree and direct that the appraisal be based on the property's value as a farm house lot. 5. Closing Period. The total purchase price, as it is determined in the preceding paragraph, shall be paid to the ~ptivrnvr, or hia iegai ~ -. °3nnt-~±i yA r i n CaSt3 at t~?4' t1II1C: Of closing. The time of closing shall be thirty (30) days after the date upon which the option is exercised, or within such time thereafter as is reasonable under the circumstances. 5. Transfer of Title. ?fit the time of closing, the optionor, or his legal representative, will deliver to the optionee a good and sufficient general warranty deed properly conveying the land described in Paragraph 1, above. Such deed shall convey the land free and clear of any and all liens, subject only to the covenants, conditions and restrictions o~ record. 7. Taxes, Insurance, Rents, and Costs. Real property taxes, rents, and insurance, shall be pro rated to the closing date. The optionee shall be responsible for the cost of recording fees. 8. No Assignment by Ogtianees. Only the ogtionees may grant the option grar_ted herein, and any assignment, transfer, or sale of this option, directly and indirectly, shall automatically tersinate this t;,yiion and all rights of the optionees under this agreement. IN WITNESS WH£REflF, the parties have duly executed this a~gree~aent on the ~ ~ day of Febxuary, 1980. a toa o. Schultz, Optao en ton Schu tz, ionee ~~. ~,~ C~i~e~r ~~ Lyna c u tz , Opt ee -2-