R2021-77 Resolution Authorizing Real Estate Purchase Agreement 680 South Martin Luther King Jr. Drive City of Decatur, Illinois

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REAL ESTATE PURCHASE AGREEMENT THIS AGREEMENT("Agreement")is entered into by and between the City of Decatur, Illinois,an Illinois municipal corporation("City")and Marvin Joyner dated April 8, 2021 ("Seller"). RECITALS A. The City is a municipal corporation as set forth in the Illinois Municipal Code, 65 ILCS 5/1-1-1, et. seg. B. The City is a home rule unit under Article VII Section 6(a)of the Illinois Constitution (IL Const. 1970,Art.VII, Sec. 6(a)). C. The City Code of the City of Decatur provides in Chapter 33 that the City may purchase property as the Council authorizes or approves. D. The Seller desires to transfer to City the property set forth in this Agreement. E. The City desires to purchase from the Seller the property set forth in this Agreement. NOW,THEREFORE,in consideration of the foregoing recitals,the mutual covenants and agreements hereinafter set forth, and for good and valuable consideration,the receipt, sufficiency and adequacy of which are hereby acknowledged,the parties agree as follows: 1. The foregoing recitals are incorporated herein as fully stated as a part of this Agreement. 2. Subject to the terms and conditions of this Agreement,the Seller shall transfer the following described premises("Property")to the City: (legal description) Lot Three(3)of the subdivision of Lot Seven (7)in Subdivision of East Half of the Southwest Quarter of Section 14, Township 16 North, Range 2 East of the 3rd P.M.,as per Plat recorded in Book 149 on Page 475 of the Records in the Recorder's Office of Macon County, Illinois. Commonly known as 680 S. Martin Luther King Jr. Dr. situated in Macon County,Illinois. 3. City shall pay to the Seller the sum of 700.00 ($)for purchase of the above described property,said monies to be paid to Seller at time of settlement in the form of a City check. City and Seller agree that settlement shall