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R2018-114 Resolution Authorizing Real Estate Contract for Property Generally Located in the 200-500 Blocks of East Marietta Street, The 200-500 Blocks of East King Street, The 200-500 Blocks of East Central Avenue, The 200-500 Block of East Wabash Avenue
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R2018-114 Resolution Authorizing Real Estate Contract for Property Generally Located in the 200-500 Blocks of East Marietta Street, The 200-500 Blocks of East King Street, The 200-500 Blocks of East Central Avenue, The 200-500 Block of East Wabash Avenue
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Last modified
11/1/2018 9:40:28 AM
Creation date
9/25/2018 3:27:06 PM
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Resolution/Ordinance
Res Ord Num
R2018-114
Res Ord Title
R2018-114 Resolution Authorizing Real Estate Contract for Property Generally Located in the 200-500 Blocks of East Marietta Street, The 200-500 Blocks of East King Street, The 200-500 Blocks of East Central Avenue,
Department
Econ and Com Dev
Approved Date
9/4/2018
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{ii} A sufficient release of any indenture of martgage or trust which may be <br /> a lien an the Premises; and, <br /> (iii} Such ather documents as Buyer's counsel may reasonably r�quire. <br /> 3.6 Buyer shall have the right to take possession of the Premises on completion <br /> of the transaction of the date of closing. <br /> 3.7 While this Contract is in effect, Seller shall (i}not enter into or arnend any <br /> contracts,optians, leases,easements or other agreements adversely affecting the Property,and{ii) <br /> not take any action which would adversely affect the ownership or condition of the Property. <br /> 4. Title Commitment. Buyer shall obta.in a current title commitrnent for an owner's title <br /> insurance policy for the Property. Buyer sha11 pay all title examination fees or other expenses <br /> charged by the Title Company for the purpose of issuing such title commitment. <br /> 5. Seller's Closing,Obli ations. At the closing, <br /> (a) Seller shall deliver to Buyer ar to such person or corporation as Buyer may <br /> naminate subject ta Section 8 of this agreernent a quitclaim deed, canveying the Premises in fee <br /> simple, subject to 2418 real estate taxes and assessments and subsequ�nt years not yet due and <br /> payable, all easements, agreecnents,restrictions and other matters of record. Such deed shall also <br /> include provisions requiring the Buyer, its successors and assigns (i) to utilize the Premises to <br /> house a Community Care Campus ta include an all-inclusive drug misuse rehabilitatian facility to <br /> the Decatur area, inpatient drug detox and treatznent center, outpatient treatment center and <br /> associated uses or those uses, including but not lirnited to social services and residential or <br /> institutional uses,that are consistent with the national CDBG objectives as agreed to in writing by <br /> the Seller. (ii) to allow monitoring of records as may be required by the U.5. Department of <br /> Housing and Urban Development as is allowed under federal law upon request.(iii)to substantially <br /> complete said Community Care Campus as per approved plans within five(5)years of the date of <br /> 5 <br />
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