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a <br />14 <br />8a-- uQ4y96 <br />purchase price equal to $1,000,000. The Partnership's obliga- <br />tion to gay the purchase price shall be evidenced and secured <br />by a note (the "Contract Note") and a non-recourse subordinate <br />mortgage on the Property. The Contract dote shall be in the <br />form provided in Exhibit D annexed hereto. <br />8.2 The General Partners agree that, as of the <br />date of this Agreement, they shall cause the Partnership to <br />purchase the Property pursuant to the Contract, for a purchase <br />price equal to $3,625,000. The purchase price shall be paid <br />by paying $250,000 at the closing of such purchase, and by <br />taking the Property subject to a purchase money first mortgage <br />in the amount of $3,375.000 (the "Mortgage Loan"). <br />8.3 The General Partners represent, warrant <br />and covenant that, simultaneously with the closing of the <br />purchase of the Property pursuant to Section 8.2, they shall <br />enter into a construction management contract {the "Con- <br />strnctian Management Contract") with the F"artnership pursu- <br />ant to which the General Partners, as construction manager <br />(hereinafter, the 'Construction Manager"), shall agree and <br />become obligated to complete construction of the Project, <br />using a general contractor qualified to do business and <br />licensed in the State of Nebraska, no later than December <br />31, 1981, in a good aad workmanlike manner with all due <br />diligence and, to the extent practicable, free and clear of <br />all mechanics`, materialmen's or similar liens and to equip <br />t <br /> <br />J <br /> <br />