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SPECIAL G?ARRANTY DEED The CITY OF GRAND ISLAND, NEBRASKA, a municipal corporation, herein called the Grantor, in consideration of Four Thousand Nine H.utdred Forty-five Dollars (54,945.00) received from Grantees, does hereby grant, bargain, sell, convey, and confirm unto LAWRENCE. E. HUWALDT and ANNA ni. HU6•IALDT, husband and wife, as tenants in common, the following described real property in Ha1I County, Nebraska: Lot Five (5), NuView Subdivision in the City of Grand Island, HaI1 COllnty, Nebraska, hereinafter referred to as the Premises: Te have and to hold the above described aremises unto the Grantees and to Grantees' heirs and assigns forever so long as the Premises is used in conformity with the L`rban Renewal Plan and the Community Development Plan of the City of Grand Island, and so long as all of t_he following conditions are met: 1. Grantees shall develop the Premises i~erein com~eved fer residential use in accordance with Grantees' proposal co purchase said Premises, which proposal is an file wiih the Community Develop- ment Agency, together with the final plans for said redevelopment approved by the Community Development Agency and chief building official of the City of Grand Island, Nebraska. 2. Grantees shall begin construction of the improvements an 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 Director of the Community Development Agency as a result of acts or conditions beyond the control of the Grantees. The residential praject shall be deemed completed as of the date that the Director of Community Development Agency finally examines the Premises and finds it to meet the requirements of the plans and specificar_ions proposed, submitted and approved for the residential development pursuant to the Urban Renewal Plan and the Community Development Plan far the residential praject. - 1 -