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81°'tt(~580~ <br />?,. Possession. Possession of the Real Estate will be given <br />to Buyer on or before the Ist day of April, 1976. <br /> <br />IV. <br />SELLER'S REMEDIES ON BUYER'S DEFAULT <br />1. Time is of the essence of this Contract. <br />2. Buyer agrees that if Buyer shall fail to pay any taxes or <br />assessments levied or assessed aga3.nst the Real Estate, Seller may <br />pay said taxes and assessments and the amounts so paid shall become <br />due and payable forthwith by Buyer to Seller without notice or <br />demand and shall become a part of the principal balance due under <br />this Contract. <br />3. If Buyer fails to pay any amount due under the terms <br />of this Contract or if Buyer fails to perform any of the other <br />terms, covenants or agreements of this Contract, or if Buyer shall <br />abandon the Real Estate, the ,ynole of t??e ir_debtedness due under <br />this Contract, together with any advances made by Seller as herein <br />provided, shall become and be immediately due and payable at the <br />option of the Seller without notice or demand, the same being <br />expressly waived, and Seller may proceed to foreclose this, Contract <br />in the manner provided by lavr. <br />#. Failure of Seller to exercise any optional remedy hereby <br />~' specified at the time of any default shall not operate as a waiver <br />of the right of Seller to exercise such optional remedy for t•he <br />same or any subsequent default at any tune thereafter. <br />V. <br />COVSNAidTS OF THE SELLER <br />1. Seller agrees to convey the Real Estate to the Buyer by <br />~Iarranty Deed, s.bject tc all reservations, rc:,strictians and easements <br />of record, and subJect to all visib'Ie easerncnt:s, and subject to any <br />other cncua:rbrances, which, ~y the terms of th7.$ {igr£emenG a7°@ t0 be <br />paid by Buyer, said warranty Deed to he placed iri escrow and <br />delivered to Buyer or returned to Seller in accordance with the <br />Escrow Provisions hereinafter set forth in Paragraph VII of this <br />Contract. <br />VI. <br />GENERAI. AGREEMENT OF PARTIES <br />1. Buyer and Seller respectively bind their heirs, ex<-cutors, <br />administrators, successors and assigns to the faithful performance <br />of the terms of this Agreement. <br />VII. <br />ESCROW PROVISIONS <br />1. Escrow Documents. This Contract shall be executed in <br />triplicate, one copy to be retained by Seller, one copy by Buyer, <br />snd the third copy shall be deposited, together with the 4arranty <br />Deed referred to in Faragraph V above, in escrow with the Commercial <br />National Bank and Trust Company, Grand Island, Nebraska, the Escrow <br />Agent. The Abstract of Title, after the same has been extended and <br />examined by Buyer's attorney, shall be delivered to the Commercial <br />National Bank and Trust Company, Grand Island, Nebraska. All <br />installment payments, together faith any advances made by Seller as <br />