R2023-02 Resolution Authorizing Intergovernmental Agreement between the City of Decatur and Decatur Public School District #61 regarding 1140 West Sunset Avenue

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I. Incorporation of Recitals. The parties hereby find that all of the recitals contained in the preambles to this Agreement are full, true and correct and do incorporate them into this Agreement by this reference. 2. Purchase Price. As the purchase price for Property, District agrees to reimburse and pay the City fifty percent(50%)of the total costs incurred by the City to demolish the structure located at 1140 West Sunset Avenue, Decatur, Illinois. Total costs shall include,but not be limited to, actual cost of demolition, fees for permits, environmental remediation costs, outstanding taxes and assessments (if any), and court costs. The purchase price minus any credits allowed Buyer under this Agreement, shall be paid at closing. 2.1. Cost Contingency. Prior to awarding any final contracts for demolition, asbestos removal, or other contracts associated with the demolition and removal of Woodrow Wilson School, and the clearing of the site, City shall give notice to District of the terms of said contracts, and shall provide any other updated information related to total costs. Each party(District,through its Superintendent, and City, through its City Manager) shall have seven (7) days from City's notice to elect to delay the awarding of any final contracts. If an election to delay is issued by either party, the parties shall have sixty(60) days to explore alternative methods of demolition. If the parties are unable to reach a written agreement on alternative methods of demolition, this Agreement shall terminate. 3. Condition of Property. District warrants that, subject to the demolition occurring, it has inspected said Property, and is acquainted with the condition thereof, and District accepts the same in its present, "As Is" condition. CITY DISCLAIMS ALL WARRANTIES AS TO CONDITION, EXPRESS OR IMPLIED, INCLUDING ALL WARRANTIES OF HABITABILITY AND FITNESS, AND SELL SAID PROPERTY IN"AS IS" CONDITION. 4. Deed of Conveyance. Cit shall execute and deliver to District at closing a Y Y g Quitclaim Deed to Property. 5. Evidence of Title. (a) Within a reasonable time prior to closing, City shall provide to District as evidence of title a Commitment for Title Insurance issued by a Title Insurance Company regularly doing business in Macon County, committing the Company to issue a Policy of Title Insurance in the usual form, insuring title to Property, subject only to the permissible exceptions to title set forth below, in the amount of the Purchase Price. (b) Permissible exceptions to title shall include only the lien of current general taxes; zoning laws and building ordinances; easements of record, which do not underlie or restrict the improvements intended by District or unreasonably interfere with the quiet enjoyment of said real estate; covenants and restrictions of record, which will not be violated by District's intended use of said real estate for school facilities; rights of the public,the State of Illinois,the County,the Township and the City in and to any part of the premises taken,used or dedicated for roads, streets or highways; rights of any drainage district of which the property is a part to assess the property from time to time; existing mortgages, if any, which shall be removed at or prior to closing; and any other standard exceptions customarily included in Title Insurance Policies issued in the County within which said real estate is located.