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~~ SPECIAL WARTdAt~tTY DEED ,_ The CITY OF GRAND ISLAND, Nebraska, a municipal corporation, herein called the GRANTdR, in consideration of Four Thousand Dollars ($4,0©©), received from GRANTEES, does hereby grant, bargain, sell, convey and confirm unto DELBERT D. TFiEASMEYER and IRIS A. THEASMEYER, ` husband and wife, as joint tenants, the following described real property in ftall County, Nebraska: Lot Seven (7) and Lot Eight (8), Block Fifteen (15), Lambert's Addition to the City of Grand Island, Nebraska, and the. westerly forty (40) feet of the southerly one hundred thirty-two (132) feet of vacated Superior Street between Fifth Street and Sixth Street in the City of Grand Island, Nebraska, as shown on the plat marked Exhibit "A" attached hereto and incorporated herein by reference, hereinafter referred to as the Premise . To have and to hold the above described premises unto the Grantees and to Grantees' heirs and assigns forever so long as the Premises is used in con€ormity with the IIrban Renewal Plan and the Commaunity Development Plan of the City of Grand Island, Nebraska, and so long as all of the fallowing 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 Develap- ment Agency, together with the final plans for said redevelopment approved by the Community Development Agency-and chief building official of the Gity 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 €rom the date of this deed unless completion time is waived by the director of the Community Development Agency as a result of acts or conditions beyond the control of the Grantees. The residential pro,)ect shall be deemed completed as of the date that the Director of Cc~amu~ity Development Agency finally examines the Premises and finds it to meat the requirements of the plans and specifications gropvaed, submitted. and approved for the residential development.