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8€~-- fifi54~5 Z. ASSESSI4ENT5. Buyers agree to vay all special assessments levied on the real estate after the 30th day of September 1980 3. INSURANCE. Buyers agree to keep the improvements on said real estate insured under Fire and extended coverage policies and to pay the premiums on su:la insurance policies as they become due. Such policies shall be carried in an amount of not less than the balance of the purchase price due hereunder. Such policy or policies shall be issued in the name of the Sellers and Buyers, as their respective interest may appear, and shall be delivered to and be retained by Sellers during the continuance of this contract. III. TITLE. Sellers have furnished Buyers with an Abstract of Title to the real estate, w'3-,iu§ Abstract, it is agreed, shows a marketable title to the real estate in Sellers at the date thereof. Said Sellers shall execute and deliver a good and sufficient Warranty Deed to said real estate; free. and clear of all encumbrances, except as above stated, which deed, Abstract of Title and a copy of this contract shall be placed in escrow with to 6e delivered to Buyers upon their compliance with the balance of the terms of this contract, and Sellers are to give quiet, peaceable possession of said premises, with improvements in as good condition as they now are, ordinary wear and tear excepted, on or before the day of 1980 IV. Buyers agree not to contract for any labor or materials to be fur- nished to said premises which would result in a Methanic's Lien being placed on said premises without the express written consent of Sellers. V. It is understood by and between the parties that the property herein is subject to a mar2gage in fever of Equitable Building and Laan Assaciatian, Grand Island, Nebraska, which mortgage is to be kept current by Sellers during the course of the contract and to be paid in full by Sellers prior to or upon closing of said contract. It is further agreed by and between the parties that in the event the mortgage payments are not made by Sellers in accordance with the terms and provisions of said mortgage agreement, that the Buyers may, at their option, make such mortgage payments to avoid said mortgage being in default and to deduct from the payments to be made hereunder by the Buyers such sums as are paid by the Buyers to Equitable Building and Loan association on said delinquent mortgage payments. VI. Sellers agree to a land contract on the balance of approximately $45,000.00 at an interest rate of 11.25' for a period of ten (30) years, with a balloon payment in full at the end of the ten-year period. VII. ----~•-~ i The Buyers, may, at their own expense, within ten days after the ratification of this contract, secure a termite report on said property. If the report shows a condition of termite infestation, and the Sallans are unable or un- willing to correct said condition, then the Buyers, at their option, may cancel this contract, have their deposit returned and be released from all liability hereunder. VIII. SELLERS REMEDIES ON BUYER'S DEFAI3LT. Time is of the essence of this contract. Page :' of ~