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R2021-77 Resolution Authorizing Real Estate Purchase Agreement 680 South Martin Luther King Jr. Drive City of Decatur, Illinois
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R2021-77 Resolution Authorizing Real Estate Purchase Agreement 680 South Martin Luther King Jr. Drive City of Decatur, Illinois
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4/21/2021 12:33:57 PM
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4/21/2021 12:33:56 PM
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Resolution/Ordinance
Res Ord Num
R2021-77
Res Ord Title
R2021-77 Resolution Authorizing Real Estate Purchase Agreement 680 South Martin Luther King Jr. Drive City of Decatur, Illinois
Department
Econ and Com Dev
Approved Date
4/19/2021
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CITY: SELLER: <br /> City Manager Marvin Joyner <br /> City of Decatur 621 Stella Dr <br /> One Gary K.Anderson Plaza Decatur, IL 62526 <br /> Decatur,IL 62523 <br /> 9. City and Seller represent to each other that each has retained and relied or had the <br /> Opportunity to retain and rely on its own legal counsel,accountants and other <br /> professional advisers in connection with the negotiation,execution,and performance <br /> of this Agreement and its consequences,including,without limitation,tax <br /> consequences. City and Seller represent to each other that any such professional fees <br /> and expenses incurred in connection with this Agreement and its performance or in <br /> any other regard, shall be the sole obligation of that party, and each party shall pay <br /> its own expenses related to this Agreement and performance of its respective <br /> obligations hereunder. <br /> 10. Each signator to this Agreement warrants and represents that such signator is duly <br /> authorized to execute this Agreement on behalf of the party for who the Agreement <br /> is signed. <br /> 11. This Agreement is expressly contingent upon payment of the agreed purchase price <br /> by City to Seller. <br /> 12. This is an enforceable Agreement placing specific obligations on the City and the <br /> Seller. Either Party is entitled to all legal remedies available under law or equity, <br /> including suit for specific performance or damages. <br /> 13. Time shall be considered to be of the essence of this Agreement. <br /> 14. Seller is advised to review all easements,government regulations and restrictions <br /> before entering into this Agreement and to seek legal advice if assistance is required. <br /> 15. This Agreement contains the entire understanding of the parties hereto in respect of <br /> the transactions contemplated hereby and supersedes all prior agreements and <br /> understandings between the parties with respect to such subject matter there being <br />
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