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<br />eo-ea~s+~ <br />7. T'he holder of any mortgage authorized by the Director of <br />the Ccsmmsttity Development Agency, including anp holder who obtains <br />title to the Premises or any part thereof as a result of foreclosure <br />proceedings or action in Lieu thereof (but not including: <br />(a) any other party who thereafter obtains title to <br />the Premises or such part from or through such <br />holder; or <br />(b) any other purchaser at foreclosure-sale other <br />than the holder of the mortgage-itself,) <br />shall be obligated by the provisions of this deed. to construct or <br />complete the construction of the improvements, or to guarantee such <br />construction or completion. Nothing in these covenants or this <br />deed shall be deemed or construed to permit or authorize any such <br />holder to devote the property or ans. part thereof to any uses, or <br />construct anp improvements thereon other than those uses and improve- <br />ments provided or permitted in the Urban Renewal Plan ar Community <br />Development Plan of the City of Grand Island. <br />8. Grantees shall not protest the creation of any improvement <br />districts, including but not Limited to, paving, sanitary sewer, <br />water main, storm water drainage or sidewalks which may be created <br />i.zi or adjacent to the Premises for which the Premises may be subject <br />to the levy of special assessments. The foregoing prohibition shall <br />not prohibit the Grantees from objecting to the amount of any such <br />special assessment which cnay be levied against the Premises. <br />This deed shall convey to Grantees an estate in fee simple <br />determinable, and in the event of breach, the possibility of reverter <br />shall vest in the Grantor herein, the City of Grand Island, Nebraska. <br />Grantor hereby covenants with Grantees and with Grantees' heirs <br />and assigns that Grantor is Lawfully seized of said Premises; that <br />they are free from encumbrance, except easements of record and <br />visible easemr~n4s; thaC Grantor has goad right and lawful authority <br />to convey the same, subject to the foregoing conditions; and that <br />Grantor warrants and will defend the title to said Premises against <br />the Lawful chime of a12 persons whomsoever. <br />Upon final compliance with the Urban Renewal. Plan anti the <br />CoutsiGy Development Plan of the City of Grand Island, Nebraska, <br />- 3 - <br />