|
"a _: a; r ~ :.ate
<br />81- 003780
<br />REAL ESTATE PURCHASE AGREEMENT
<br />.:...:n ,. r..~.aounw.m ., .. ..,„ae ~r.ll ont-crcr~ intn fihic ~au~ ddV
<br />of June , 1981, by and between FRANCIS L. DORENBACFI,
<br />Personal Representative of the Estate of John E. English,
<br />Deceased, and FRAidCIS L. DORENBACH, Personal Representative of
<br />the Estate of Mary E. English, Deceased, hereinafter collect-
<br />ively referred to as "Seller", and GORDIHAPI PARTNERSHIP, a
<br />Nebraska general partnership, hereinafter referred to as
<br />"Buyer".
<br />47ITNESSETH
<br />WHEREAS, Seller is the present owner of the real estate
<br />described in Exhibit "A" attached hereto and by this reference
<br />incorporated herein, which real estate, together with any im-
<br />provements located thereon and ary appurtenances thereunto per-
<br />taining, hereinafter is referred to as the "Property"; and
<br />WHEREAS, Buyer presently is the lessee of the Property pur-
<br />suant to a Lease dated June 8, 1971, between Herbert F. Idayer,
<br />Jr. and Katharine S. Mayer, as Lessor, and Richman Gordma:. ~t~res;
<br />Inc., as Lessee; and
<br />WHEREAS, Buyer now desires to purchase the Property; and
<br />Seller desires to sell the Property, upon the terms and co:~ditions
<br />hereinafter set forth;
<br />NOW, THEREFORE, the parties hereto agree as follows:
<br />1. Buyer agrees to purchase the Property from Seller, a.;~d
<br />Seller agrees to sell the Property to Buyer, for a total purchase
<br />price of One Hundred Twenty-five Thousand Dollars ($125,000.00).
<br />2. Buyer agrees to pay, and Seller agrees to accept the
<br />payment of, such purchase price in the following manner:
<br />(a) Thirty-one Thousand Dollars ($31,000.00) of
<br />such purchase price shall be paid, without interest,
<br />on September 1, 1981; and
<br />(b) The balance of such purchase price, being
<br />Ninety-four Thousand Dollars ($94,000.00), with interest
<br />on the unpaid balance from time to time at the rate of
<br />12$ per annum, shall be paid in four (4) equal annual
<br />installments of $30,948.04 each on the first day of
<br />September, 1982, 1983, 1984, and 1985. Each such
<br />payment shall be applied first to accrued interest
<br />and then to principal.
<br />Buyer shall have the right to prepay alI or any portion of the
<br />unpaid purchase price at any time after December 31, 1981, in
<br />which event interest shall be due only to the date of the final
<br />payment.
<br />3. Promptly after the execution of this agreement, Seller,
<br />at no expense to Buyer, shall order a title insurance commitment
<br />from a title insurance company authorized to do business in the
<br />State of Nebraska and reasonably satisfactory to Buyer, pursuant
<br />to which such title insurance company shall agree to issue to
<br />Buyer at the Closing an ALTA Form B owner's title insurance policy
<br />in the amount of One Hundred Twenty-five Thousand Dollars ($125,000.00)
<br />
|