R2020-148 Resolution Authorizing Real Estate Purchase Agreement for 849 East Johns Avenue, City of Decatur, Illinois

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CITY: SELLER: City Manager �'J,r�'iSTlr cj� j v City of Decatur J13 wkJs ;V';- One V'`One Gary K. Anderson Plaza 'Oettfn°le> :Xt. &Z s-Z Decatur,IL 62523 9. City and Seller represent to each other that each has retained and relied or had the Opportunity to retain and rely on its own legal counsel,accountants and other professional advisers in connection with the negotiation,execution,and performance of this Agreement and its consequences, including,without limitation,tax consequences. City and Seller represent to each other that any such professional fees and expenses incurred in connection with this Agreement and its performance or in any other regard, shall be the sole obligation of that party, and each party shall pay its own expenses related to this Agreement and performance of its respective obligations hereunder. 10. Each signator to this Agreement warrants and represents that such signator is duly authorized to execute this Agreement on behalf of the parry for who the Agreement is signed. 11. This Agreement is expressly contingent upon payment of the agreed purchase price by City to Seller. 12. This is an enforceable Agreement placing specific obligations on the City and the Seller. Either Party is entitled to all legal remedies available under law or equity, including suit for specific performance or damages. 13. Time shall be considered to be of the essence of this Agreement. 14. Seller is advised to review all easements,government regulations and restrictions before entering into this Agreement and to seek legal advice if assistance is required. 15. This Agreement contains the entire understanding of the parties hereto in respect of the transactions contemplated hereby and supersedes all prior agreements and understandings between the parties with respect to such subject matter there being