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<br />8p~ ecae~z <br />7. The htslder a€ any mortgage authorized by the Director of <br />the C~eemity Development agency, including ~ 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 ar such. part €rom or through such <br />holder; or <br />(b) any other purchaser at foreclosure sale other <br />than the holder of the mortgage itself,) <br />shad 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 ar any part thereof to any uses, or <br />construct any improvements thereon other than those uses and improve- <br />ments provided or permitted in the Urban Renewal Plan or Conmiunity <br />Development Flan of the City of Grand Island. <br />$. Grantees shall not pretest 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 />in or adjacent to the Premises far which the Premises may be subject <br />tc~ the levy of special assessments. The foregoing prohibition shall <br />net prohibit the Grantees from objecting to the amount of any such <br />special assessment which may be levied against the Premises. <br />This decd 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 easements; that Granter has good right and lawful authority <br />tQ convey the saabe, subject to the fcaregaing conditions; and that <br />Grantor warrants and will defend the title to Said Premises against <br />the-lawful claims of all persons whomsoever. <br />upon final compliance with -the Urban Renewal Flan and the <br />Crsitl+ Development Plan of the City of Grand island, Nebraska, <br />~ _ <br />