Laserfiche WebLink
REAL ESTATE PURCHASE AGREEMENT <br /> THIS AGREEMENT ("Agreement") is entered into by and between the City of Decatur, <br /> Illinois, an Illinois municipal corporation("City") and Lindy Lu LLC, an Illinois Limited <br /> Liability Corporation("Buyer"). <br /> RECITALS <br /> A. The City is a municipal corporation as set forth in the Illinois Municipal Code, 65 ILCS <br /> 511-1-1, et. sea. <br /> B. The City is a home rule unit under Article VII Section 6(a) of the Illinois Constitution <br /> (IL Const. 1970,Art. VII, Sec. 6(a)). <br /> C. The City owns property previously used for use as a fire station located at 1308 and 1316 <br /> West Eldorado,Decatur, Illinois 62522.' <br /> D. The City Council has determined that the property is no longer needed for use as a fire <br /> station and is no longer needed for any other public purpose. <br /> E. The City Code of the City of Decatur provides in Chapter 33 that the City may dispose of <br /> property as the Council authorizes or approves. <br /> F. The City desires to transfer to Buyer the property set forth in this Agreement. <br /> G. The Buyer desires to purchase from the City the property set forth in this Agreement. <br /> NOW, THEREFORE, in consideration of the foregoing recitals, the mutual covenants <br /> and agreements hereinafter set forth, and for good and valuable consideration, the receipt, <br /> sufficiency and adequacy of which are hereby acknowledged, the parties agree as follows: <br /> 1. The foregoing recitals are incorporated herein as fully stated as a part of this <br /> Agreement. <br /> 2. Subject to the terms and conditions of this Agreement, the City shall transfer the <br /> following described premises ("Property")to the Buyer: <br /> Lot One (1), Lot Two (2) and Lot Three (3) in Block Three (3) of Fairview Place, an Addition to <br /> the City of Decatur, Illinois as per Plat recorded in Book 149, Page 615 of the Records in the <br /> Recorder's Office of Macon County, Illinois, EXCEPT, all that part conveyed to the State of <br /> Illinois, being more particularly described as follows: Commencing at the Southeast corner of <br />