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~~ ~Ea. SPECIAL 6JARRANTY t~ED The CITY OF GRAND ISLAND, Nebraska, a municipal corporation, herein called the GRANTOR, in consideration of Three Thousand Dollars ($3,OOQ), received from Grantees, does hereby grant, bargain, sell, convey and confirm unto DELBERT D. THEASMEYER and LOIS A. THEASMEYER, husband and wife, as joint tenants, and 3ANET M. ROSS, together as tenants in common, the following described real property in Hall County, Nebraska: Fractional Lots Five (S) and Six (6}, Block Fifteen (15), Lambert's Addition to the City of Grand Island; and Fractional Lots Six (5), Seven (7), and Eight (8), Block Eight (8), Evans Addition to the Gity of Grand Island, Nebraska, all as shown on the plat marked Exhibit "A" attached hereto and incargorated herein by reference, hereinafter referred to as the Premises. To have and to hczld the above described premises unto the Grantees and to Grantees' heirs and assigns forever so long as the Premises is used in conformity with the Urban Renewal Plan and the Community Development Plan of the Gity of Grand Tsland, Nebraska, and so long as all of the following conditions are met: 1. Grantees shall develop the Premises herein conveyed for residential use in accordance with Grantees' proposal to purchase said Premises, which proposal is on file with the Community Develop- ment Agency, together with the final plans for said redevelopment appr©ved by the Community Development Agency and chief building official of the City of Grand Island, Nebraska. 2. Grantees shall begin construction of the improvements on the Premises within six (6) months from the date of this deed of conveyance, and said construction shall be completed within one (1) year from the date of this deed unless completion time is waived by the Birector of the Community Development Agency as a result of acts ox conditions beyond the control of the Grantees. The residential project shall be deemed completed as of the date that the Director of Ca~punxty Development Agency finally examines the Premises and fiuda i€ to meet the- requirements of the plans and specifications pragosed, submitted and approved for the residential de~telt~pment