R2019-73 Resolution Amending the 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} Seller approving Buyer's site p(an and landscape plan for Seller's proposed deve]opment of the Property. (3) Buyer obtaining all approvals and permits from all governmental authorities having jurisdiction over the Premises customarily required for projects siznilar to Buyer's proposed development of the Premises. (4) Buyer maintaining all utility easements within, or relocate all utilities from the right of way to be vacated along East Orchard Street between North Water Street and North Warren Street described in Exhi6it A attached hereto. (5)The foregoing conditions shall be completed to Seller's satisfaction no later than the end of the 12th month following the effective date of this Contract.If all of the foregoing conditi�ns are not satisfied to Seller's satisfaction on or before the end of the 12th month following the effective date of this Contract,then Buyer shall be in defautt.As used herein,"effective date"shall mean the date the Contract is last executed by a party. If Seller terminates this contract for Buyer's default, Seller shall be entikled to record a deed as described in paragraph 10 below.Buyer shatl also pay any costs associated with remediating any changes ar improvennents made to the premises by Buyer, its successors and assigns,as deemed necessary in the sole discretion of the Seller. Such costs may include but not be limited to removal of any structures constructed an site, either partial or complete, or remediation of any hazards created during Buyer's ownership of property. (6) In the event the construction described herein is not substantially completed within two years of the date of closing,Buyer shall be in default,unless anv failure, or delav in construction comgtetion shail be due to strikes walk-outs acts of God, enemv action civil commotion or other similar acts baxond ti�e reasonabte controi of BuYer. (7)Buyer shall execute a quitclaim deed which shalt be dalivered to Seller at closing,conveying Buyer's interest in the Premises in fee simple back to the City of Decatur. Said deed may be recorded in the event of Buyer's default follawing reasonable notice and failure to cure, as provided in the default paragraph of this 3 !