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~~ ~. 81--~~ti2`9~5 MEMORANDUM OF LAND SATE CONTRACT THIS MEMORANDUM OF LAND SALE CONTRACT made and enta;ced - into this `~ day of June 1381, by and between.. Richard &-.- Cavenee and Colleen M. Cavenee, husband-and wife, Sellers,. ar~d William Landis and. Margaret Landis, husband and wife, Sttyi~ts.. WITNESSETH: WI3EREAS Sellers are the owners of: Lot Eighty (80} in Buenavista Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska, which property and its appurtenances Sellers are willing to sell under a certain Installment Sales Contract; and WHEREAS Buyers have agreed to purchase the property, both real and personal, under a Land Sale Contract made and entered into on 7~ 9 1981, and WHEREAS the Lard 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 execution of the Land Sa3e Contract for the purpose of recording, NOW, THEREFORE, in consideration of the mutual promises of each of the parties hereto, the following are summarized pro- visions of the Lane Sale Contract of even date herewith included for reeordinr? purposes. 1. yellers agree to sell and convey unto Buyers and Buyers agree to purchase frog; Sellers, the following described real estate and appurtenancF thereto: Lot Eighty {80} in Buenavista Subdivision, an Addition to the City of Grand Island, Hall County, Nebraska. 2. Buyers aaree to pay the Sellers, the sum of Thirty Five Thousand Dollars tS3S,000.00} to be paid as follows: a, The sum of 5100.00 at the time of the executior. of the Land Sale Contract. b. The balance of the ,rurchase price of $34,400.00 to be payable over a period of years, with interest at the rate of i2 iJ2 percent per annum, which arx?rtized over the life of the Contract re- quires mthly payments of 5372.48 per month with the first payment due on Jul~r 9 1481, and subsequent payments on the _zr~ st may of each and every month during the term of the Contract. 3. That in addition to the payment of principal and int- erest set forth herein, Buyers are responsible for paying 'Real Estate Taxes, special assessments against the land, and for paying for insurance premiums for fire and extended coverage insurance on the property during the term of *_his Contract. 4. Time is of the essence of *_he Contract. Buyers agree that if they fail to pay any taxes or assessments or insurance premi.u~, as provided: Sellers may ,,ay such taxes, assessments or premiums, and the amount so Maid shall be due and payable immediately ~ .Boyars to Sellers without natice ref demand, and shall becnme a part. of the prinei,pal balance of the :'ontract.