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R2019-170 Resolution Authorizing City Manager to Purchase Property Located at 855 N. Fairview Ave., Decatur, IL
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R2019-170 Resolution Authorizing City Manager to Purchase Property Located at 855 N. Fairview Ave., Decatur, IL
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1/13/2020 11:12:29 AM
Creation date
11/8/2019 9:34:03 AM
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Resolution/Ordinance
Res Ord Num
R2019-170
Res Ord Title
R2019-170 Resolution Authorizing City Manager to Purchase Property Located at 855 N. Fairview Ave., Decatur, IL
Department
Fire
Approved Date
11/4/2019
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(ii) A sufficient release of any indenture of mortgage or trust which may <br /> be a lien on the Premises; and, <br /> (iii) Such other documents as Buyer's counsel may reasonably require. <br /> 3.5 Buyer shall have the right to take possession of the Premises on completion <br /> of the transaction on the date of closing. <br /> 3.6 While this Contract is in effect, Seller shall (i) not enter into or amend any <br /> contracts, options, leases, easements or other agreements adversely affecting the Property, <br /> and (ii) not take any action which would adversely affect the ownership or condition of the <br /> Property. <br /> 4. Title Commitment. Buyer shall obtain a current title commitment for an owner's <br /> title insurance policy for the Property. Buyer shall 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 Closin�Obli at�ons. At the closing, Seller shall deliver to Buyer a quitclaim <br /> deed, conveying the Premises in fee simple, subject to 2019 real estate taxes and assessments and <br /> subsequent years not yet due and payable, all easements, agreements, restrictions and other matters <br /> of record. Such deed shall also include provisions requiring the Buyer, its successors and assigns , <br /> for a period of twenty (20) years from date of closing, to utilize the Premises to house a fire station <br /> or similar public safety uses agreed to in writing by the Seller. The promise made to use land to <br /> house a fire station or similar public safety uses agreed to in writing by the Seller shall survive the <br /> date of closing and such promise shall be specifically enforceable by the Seller and its successors <br /> under the terms of this agreement. <br /> 6. Seller shall not be liable for environmental defects to the Premises. <br /> 7. Default. If the conditions precedent of this Contract are satisfied or waived by Buyer <br /> and Seller, and if Seller fails to consummate this Contract for any reason other than the default of <br /> Buyer, then Buyer may enforce specific performance or seek other legal remedies. If Buyer shall <br /> default in the performance of its obligations under this Contract, then Seller may enforce specific <br /> performance or seek other legal remedies. <br /> 4 <br />
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