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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condition of title disclosed by such reports or surveys and rendering the title unmarketable. In the event of such notice, the conveyance to Buyer shall be delayed pending Sellers efforts to resolve the same. In event Seller is unable or unwilling to cure such defects within a reasonable time after notice thereof,Buyer or Seller may elect to cancel and terminate this agreement and the rights and obligations of the parties hereunder; and in such event, Seller shall refund to Buyer all sums paid hereunder if Buyer shall so elect.Failure to notify Seller of any objectionable title defect as above said shall constitute a waiver thereof. Notwithstanding the foregoing, Seller makes no representations regarding the condition of title, and offers only to convey title "as is", without exceptions. 5. Closin�• The time and place of settlement ("closing") shall be fixed by mutual agreement of the parties not more than 60 days after the effective date of this agreement. (A)Not later than the date of the closing, Buyer shall deliver to Seller or cause to be paid: (i) All documents as Seller's counsel may reasonably require; and (ii)The fee for recording any release of any lien in favor of the City of Decatur, only; and (iii)The fee for recording the quit claim deed conveying Seller's interest to Buyer and memoriam of this contract for sale; and (iv) The amount of Illinois Revenue Stamps required for the transaction; and (v) The purchase price for the Premises ($650.00) (B)Not later than the date of closing, Seller shall deliver to buyer: (i) its executed quitclaim deed to the Premises in substantially the same form as Exhibit C attached hereto, conveying the premises in fee simple, subject to: 2018 real estate taxes and assessments and subsequent years not yet due and payable; easements, agreements, restrictions and other matters of record,with no exceptions, and subject to the conditions set forth below. (ii)A sufficient release of any lien or liens in favor of the City of Decatur; and, (C)The deed shall require Buyer, its successors and assigns to: 5