R2019-24 Resolution Authorizing Real Estate Contract For Property Located In The 200-300 Blocks of East Orchard Street, The 200-300 Blocks of East Marietta Street And The 1000 Block of North Warren Street In The Wabash Crossing Redevelopment Area

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services and residential or institutional uses,that are consistent with the national CDBG objectives, on or within 250 feet of the Premises. (2) Selier approving Buyer's site plan and landscape pian for Seller's proposed development of the Praperty. (3) Buyer obtaining all approvals and permits from all governrnental authorities having jurisdiction over the Premises customarily required for projects similar to Buyer's propased development of the Premises. {4) Buyer maintaining all utility easements within, or relacate all utilities frorn the right af way to be vacated alotag East Orchard Street between North Water Street and North Warren Street described in Exhibit A attached hereto. (5} The foregaing conditions sha11 be completed to Seiler's satisfaction no later than the end of the 12th month following the effective date of this Contract. If all of the foregaing conditians are not satisfied to Seller's satisfaction on or before the end af the 12th rnonth following the effective date of this Contract,then Buyer sha11 be in default.As used herein,"effective date"sha11 mean the date the Cantract is last executed by a party. If Seller terminates this contract for Buyer's default, Seller shall be entitled to record a deed as described in paragraph 10 below, Buyer shall alsa pay any costs associated with remediating any changes or improvements made ta the premises by Buyer, its successars and assigns,as deemed necessary in the sole discretion of the Seller. Such costs may include but not be limited to rernoval af any structures constructed on site, either partial or complete, or rernediatian of any hazards created during Buyer's ownership af property. {6) In the event the canstruction described herein is not substantially completed within two years of the date af clasing, Buyer shall be in default, unless an,y failure, or delav in construction campletion shall be due to strikes, walk-outs, acts of God, enemy action, civil commotion, or other similar acts beyond the reasonable control of Buyer. (7) Buyer shall execute a quitclaim deed which shall be delivered to Seller at clasing,conveying Buyer's interest in the Premises in fee simple back to the City af Decatur. Said deed may be recarded in the event of Buyer's default follawing reasonable notice and failure to cure, as provided in the default paragraph of this 3