R2023-50 Resolution Authorizing a Real Estate Purchase Agreement for Properties Between Una Mae Eldridge and Una Mae Eldridge Living Trust and the City of Decatur

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REAL ESTATE PURCHASE AGREEMENT THIS AGREEMENT("Agreement")is entered into by and between Una Mae Eldridge and Una Mae Eldridge Living Trust("Seller")and the City of Decatur,Illinois,an Illinois municipal corporation("City"). RECITALS A. The City is a municipal corporation as set forth in the Illinois Municipal Code, 65 ILCS 511-1-1,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. Chapter 33 of the City Code of the City of Decatur provides that the City may acquire properties as the Council authorizes or approves. D. Seller owns or controls 9 properties adjacent to each other located between Condit St and Marietta St.just west of Jasper(depicted in Exhibit A)all located in Decatur,IL that it desires to sell. The nine parcels included in this transaction are as follows: 04-12-11-409-001, 04-12-11- 409-002,04-12-11-409-003,04-12-11-409-005,04-12-11-409-006, 04-12-11-409-007,04-12- 11-409-009, 04-12-11-409-011, 04-12-11-453-001. E. The City desires to purchase the nine properties as set forth in this Agreement. NOW,THEREFORE,in consideration of the foregoing recitals,the mutual covenants and agreements hereinafter set forth, and in consideration of$10,000.00 in earnest money, 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, Seller shall transfer the Premises outlined by red lines in Exhibit A attached hereto and incorporated by reference("Property")to the City. 3. City shall pay to the Seller the sum of One Hundred Eighty Thousand Dollars ($180,000) for purchase of the above-described property,together with all improvements thereon and the appurtenances and fixtures thereto, said monies to be paid to Seller at time of settlement,less earnest money already provided. City and Buyer agree that settlement shall occur no later than sixty(60)business days from the date of this Agreement. At least five(5)days before closing, Seller shall have removed all personal property Seller wants from the property. Except for removal of said personal property and the provisions in Paragraph 11 (Environmental