Laserfiche WebLink
BQ.r: ~p5259 <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 ar <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 or any part thereof to any uses, or <br />construct any improvements thereon other than those uses and <br />improvements provided or permitted in the Urban Renewal Plan or Community <br />Development Plan of the City of Grand Island. <br />8. Grantees shall. not protest the creation of any ir~prnvement <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 />to the levy of special assessments. The foregoing prohibition shall <br />not prohibit the Grantees from objecting to the amount of any such <br />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 possibility of reverter <br />shall. vest in the Granter 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 £ree from encumbrance, except easements of record and <br />risible easements; that Grantor has good right and lawful authority <br />to convey the same, subject to the foregoing conditions; and that <br />Grantor warrants and will defend the title to said Premises against <br />the laitful claims of-all persons whomsoever. <br />Upon final cowgliance with the Urban Renewal Plan and the <br />Goe~untg Development Plan of the City of Grand Island, Nebraska, <br />- 3 - <br />