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a.u.W.. . 81-t~t~2685 S. Buyer viii be responsible for making all payments on real estate taxes from the date of possession thereafter. Seders warrant that there are no outstanding mechanic's liens against the real estate. 6. Insurance. In addition to paying the monthly mortgage paertt and the real estate taxes on the premtses, Buyer agrees to carry homeowners insurance on the property with said insurance to be in the minimum amount of 529,5dd payable in the event of foss as the parties' interest appear hereunder. 7. Escrow Agent. The parties hereby designate McDermott Law dffices, 811 West 2nd Street, Grand Is}and, Yebraska, as Escrow Agent. Said Escrow Agent shat} maintain an escrow file with the executed contract, Warranty Deed conveying said property and Abstract of Title to said property and all other documents until this contract has been coa~letely performed by the Buyer. It is further understood that Sellers are obligated to continue making their monthly payments to the Grand Is}and Trust Company for the first axirtgage which i5 held by said Company on this real estate. When the balloon payment is made to the Sellers, Sellers are obligated to pay off in full the mortgage held by Grand Island Trust Company:'1' Said Escrow Agent is authorized to deliver°to~- the Buyer the above described legal documents. The amount of the documentary stamF+ may ~ ~ithhe}d from the final payment due hereunder. The Escrow Agent shall not be called upon to construe this Contract and in the event of any disputes between ttte parties, the Escrow Agent shat} have the right to hold all }ego} documents until a mutual agreement has been reached by the parties or anti} the matter has been settled by a final judgment or decree of a Court of coeipetent jurisdiction. 8. Duties of Myer. The Buyer agrees to make ail monthly payments required hereunder, to asake a}1 the rrecessary payments for real estate taxes and insurance and further agree to P+W the ba}once of the 1981 real estate taxes and special assessments levied or assessed during the term of this contract. Buyer agrees W keep the above described Property in a good state of rya#r and free and clear of taxes. liens and encu~rances and to pera+it no aCt which might iepair Sellers security interest. _~_