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84- ;~~; <br />7. The holder of any mortgage authorized by the Director of <br />the Community Development Agency, including any 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 <br />such construction or completion. Nothing in these covenants or <br />this deed shall be deemed or construed to permit cr authari~e any <br />such holder to devote the property or any part thereof to any <br />uses, or construct any improvements thereon other than those uses <br />and imprc~aements provided cr permitted in the Urban Renewal Plan <br />or Community 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 />in or adjacent to the Premises for which the Premises may be <br />subject to the levy of special assessments. The foregoing prohibition <br />shall not pzohibit the Grantees from objecting tc the amount of <br />any such special assessment which may 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 possibilit,~~ of <br />reverter shall vest in the Grantor herein, the Citv cf Grand <br />Zsland, Nebraska. <br />Grantor hereby covenants with Grantees and with Grantees' <br />heirs and assigns that Grantor is' Iawfuily seised of said Premises; <br />that they are free from encumbrance, e~ccept easements of record <br />and visible easements; that Grantor has good right and lawful <br />authority to convey the same, subject to the foregoing conditions; <br />and that Grantor warrants and will defend the title to said Premises <br />against the lawful claims of all persons whomsoever. <br />Upon final compliance with the Urban Renewal Plan and the <br />Community Development Plan of th.e City ~f fJrand Island, Nebraska, <br />- 3 - <br />1 <br />