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<br />$1- )jt~t3442
<br />MEMORA*IDLiM OF LAND SALE CONTRACT
<br />THIS Memorandum of Land Sale Contract made and entered
<br />into this 3rd day of July 1981, by and between A. W
<br />Beckley and Judith K. Beckley, husband and wife, Sellers and
<br />Duane L. Nelson and Cheryl L. Nelson, husband and wife, and
<br />Stanley H. Nelson and Connie K. Nelson, husband and wife,
<br />hereinafter called Buyers.
<br />WITNESSETH:
<br />WHEREAS, Sellers are the owners of:
<br />Lot One (1), Lot Two (2), and the Easterly Nine
<br />..a ci v~u••.a ..,..a s. i.,. z.,,,,r r:-o f1F~1 of +h~,~Cn+,+horly
<br />Fifty Five and Eight Tenths Feet (S 55.8') of Lotf
<br />Three (3) and the Easterly Twelve and Six Hundredths
<br />Feet (#12.06') of the Northerly Seventy Six and
<br />Two Tenths Feet (N76.2') of Lot Three (3), alI in
<br />Block Twenty Three (23) in Baker's Addition to the
<br />City of Grand Island, Hall County, Nebraska
<br />which property and its appurtenances Sellers are willing to sell
<br />under a certain Installment Sales Contract; and
<br />WHERw.AR Buyers have agreed to purchase the property, both
<br />real snd personal, under a Land Sale Contract made and entered
<br />into on July 3 1981, and
<br />WHEREAS :.:.e Land Sale Cantract made and entered into of
<br />even date herewith provided that the parties hereto would execute
<br />a Memorandum of Land Sale Contract contemporaneously with the
<br />execution of the Land Sale Contract for the purpose of recording,
<br />NOW THEREFORE, in consideration of the mutual promises
<br />of each of the parties hereto, the following are summarized pro-
<br />visions of the Land Sale Contract of even date herewith included
<br />for recording purposes.
<br />1. Sellers agree to sell and convey unto Buyers and
<br />Buyers agree to purchase from Sellers, the following described
<br />real estate end appurtenances thereto:
<br />Lot One (1}, Lot i'wo (2), and the Easterly vine
<br />and Six Hundredths Feet (E 9.06') of the Southerly
<br />Fifty Five and Eight Tenths Feet (555.8') of Lot
<br />Three (3) and the Easterly Twelve and Six Hundredths
<br />FePt(E12.06') of the Northerly Seventy-Six and Two
<br />Tenths Feet ('r~76.2'} of Lot Three (3), ail in Black
<br />Twenty Three (23) in Baker's Addition to +_he City
<br />of Grand Island, Hall County, Nebraska
<br />2. Buyers agree to pay the Sellers, the sum of Seventy
<br />Five Thousand Dollars (575,000.00}, to be paid as follows:
<br />a. The sum of 512,000.00 paid upon the date of the
<br />signing of this Contract.
<br />b. The sum of $10,000.00 on September 1, 1981.
<br />c, The balance of $53,000.00 shall be payable over
<br />a term of 25 years, carrying an annual percentage
<br />rate of i0 2j2$ per annum an the unpaid balance,
<br />which amortized out is the sum of $500.42 per
<br />month during the entire term of this Contract,
<br />with the first payment due July 1S, 1981 and cont-
<br />tinuing on the first clay of each and every month
<br />thereof during the term of the Contract with the
<br />last payment due July 15 2006.
<br />3. That in addition to the payment of principal and interest
<br />set forth herein. Buyers aze responsible far paying Real Estate 'f`axes,
<br />sp€~cial aasessments against the land and for paying for Insurance
<br />pre~siurrs for fire and extended coverage insurance. cn ti;c nro,3erty
<br />during the tE:rm of this Contract.
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