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81-~-~(~ (~ 0639 MEMORANDUM OF LAND SALE CONTRACT THIS MEMORANDUM OF LAND SALE CONTRACT made and entered-into this ~ day of -- ;i ~, 1981, by and between RICHARD S. CAVENEE and LOLL N M. CA NEE, Sellers, and E. RICHARD BUHLMANN and TERESA E. BUHLMANN, Buyers. WITNESSETH: WHEREAS, Sellers are the owners of: Lot Five (5) in Block Four {4) in Pleasant View Addition to the City of Grand Island, Nebraska, which property and its appurtenances Sellers are willing to sell under certain installment sales contracts; and WHEREAS, Buyers have agreed to purchase the property, both real and personal, under a Land Sale Contract made and entered-into on ,-,~~~,4~r .=~.~ 1981, and WHEREAS, the Land Sale Contract made and entered into of even date herewith, provided that the parties hereto would execute a Memorandum of Land Sale Contract contemporaneously with the exe- cution of the Land Sale Contract far the purposes of recording. NOW, THEREFORE, in consideration of the mutual promises of each of the parties hereto, the following are summarized provisions of the Land Sale Contract of even date herewith included for re- cording purposes: i. Sellers agree to sell and convey unto Buyers and Buyers agree to purchase from Sellers the following described real estate and its appurtenances thereto: Lot Five (5) in Black Four {4) in Pleasant View Addition to the City of Grand Island, Nebraska. 2. Buyers agree to pay to Sellers for the above described property the stun of Thirty-four Thousand {$34,000.00) Dollars as provided in the Land Sale Contract, by a downpayment at the date of close of the Land Sale Contract in the sum of Three Thousand ($3,000.00) Dollars and in graduated payments over four hundred eighty {480) months beginning ~j 1.tr -~ 3 1981, and each and every month thereafter until the en re principal amount and interest therein are fully paid. 3. Buyers are to pay the real estate taxes and the insurance premiums on the property. 4. Time is of the essence of this Contract. Buyers further agree that if they shall fail to pay any taxes or assessments levied or assessed against the sale property or fail to pay the premium of insurance, Sellers may pay the taxes, assessments or premiums and the amount so paid shall become due and payable forth- with by Buyers to Sellers without notice or demand and sha21 be- come a part of the principal balance due under this Contract. 5. If Buyers fail to pay any amount due under the terms of the Contract, or if Buyers fail to perform any of the other terms, covenants or agreements of this Contract, or if Buyers shall abandon the sale property, the whole of the indebtedness dug under this Contract, together with any advances made by Sellers as h2 rein provided, shall become and be immediately due and pay- able at the option of the Sellers without notice or demand, the same being expressly waived, and Sellers may proceed-to forec).ose