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--~ ~. ' •. '. _ 81-c}U51.23 CONTRACT FOR SALE OF REAL ESTATE Thi3 Agreement is made and entered into this /~` day of , 19Ri, by and between William F. tfarris ancTVl-rginia M. arr s end ar~d Wife, hereinafter referred to as Sellers and Geraldine iKOeller. Gary 1. Carothers and Donald J. Alfonsl, hereinafter referred to as Buyers. kITNESSETH: The Sellers hereby agree to sett and convey to Buyers and Buyers hereby agree to purchase from Setters the following described real estate: Two story brick building located at 317 41esL Ind Street, Grand Island, Nehraska, legal description Original Town L 1/3 lot Three (3) Block Eighty-one (8l) together with all appurtenances thereto belonging on the following terms and conditions: 1. Purchase Price and Manner of Pa° nt. As the purchase price for the Sellers' interest n the rea estate, Buyers agree to pay the Sellers and Sellers agree to accept from Buyers, the sum of Thirty-eight Thousand, Three Hundred Seventeen and 56/100 (S38,317.56). (a) The sun of THIRTYEIGHT THOUSAND THREE HUNDRED SEVENTEEN AND 56/100 (538,317.56) shall be paid in monthly in- stallments of 5450. The first payment is due and payable on the first day of October, 1981, and an equal amount on the first day of each and every month thereafter until the entire balance of said purchase price, with interest as herein provided, has been paid in full. Said monthly installment payments shall include interest at the rate of 12x per annum on alt unpaid principal halance and shall be applied first to accruing but unpaid interest on the balance of principal to the date of payment and then to principal. {D) The entire balance due under this gr ement shalt be due grid payable Dy the _j,.,~ day of ._T, {c) It is further understood and agreed between the parties of this contract that the purchasers may pay the remaining contract balance at any time without penalty. Purchasers, however, agree to secure other financing at any time the mortgage rate falls below 12i; per year or they will secure further financing upon written request from the Sellers after 4 years from October 1, 1981, {d) It 1s also understood and agreed to between the parties that if the present mortgage, which is held by Equitable Building and Loan Association of Grand Island, Nebraska is called in, purchasers agree to pay the difference between the 12z interest rate of this contract and any interest rate sgt by.EquitaDle Building and Loan Association. %7`r~'r !ci ~L?~ (e) Purchasers further agree to have Zhe monthly payment n,~ m autanatically transferred from their account to the Te{ checking account of killiam N.arris. ~,p,~, 2. taxes and Assessments. Sellers agree to pay all taxes and tV/ aSSessmetlLS up to an nc a ng year 1980 and shall pay 1981 taxes to tfie d~Ee of possession, which is October 1, 1981. Taxes for the year 1981 shall be prorated. to the date of possession based upon the new assessed valuation of the County Assessor's office. Buyers expressly agree to assume 4nd:Dtly at1 real estate taxes from the date of possession for the year 1481, and tq pay all taxes for the year 1482 and subsequent years, and to•furnish