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Investigations),Buyer agrees to accept the property at closing in its present"AS IS" <br /> condition. <br /> 4. Seller shall furnish to City a Commitment for an Owner's Title Insurance Policy <br /> insuring against defects in the merchantability of title up to the value of the purchase <br /> price set forth above for the Property. The City shall provide to Seller in writing <br /> within a reasonable time after receipt of the Policy and prior to settlement,any <br /> objection it may have thereto. Seller shall have a reasonable time to cure any <br /> objection interfering with or,impairing the merchantability of the title to said real <br /> estate. If Seller is unable to cure any such objection and the Seller, at its sole <br /> expense, is unable to procure a title policy insuring over the same,then the City shall <br /> have the option of terminating this Agreement. This Agreement is expressly <br /> contingent upon Seller providing good and merchantable title to the Property. <br /> 5. At settlement, Seller shall deliver to City a warranty deed to the Property in such <br /> form and together with such documentation as shall be required for recording said <br /> deed. Seller and City agree to each pay one-half of the costs for transfer tax stamps, <br /> the cost of recording with the Recorder of Deeds any of the documents necessary to <br /> complete the transfer of ownership and any other additional documents required. <br /> 6. Seller shall be responsible for all Real Estate Taxes accruing prior to date of closing. <br /> 7. All notices,demands and requests that are required or allowed to be given by either <br /> party shall be in writing and shall be personally delivered or sent by certified mail, <br /> postage prepaid,to the address as set forth below or to such other address as either <br /> party may subsequently designate in writing: <br /> SELLER: CITY: <br /> Una Eldridge City of Decatur <br /> 65 S. Shore Dr. City Manager <br /> Decatur, IL 62521 One Gary K. Anderson Plaza <br /> Decatur,IL 62523 <br /> With copy to: <br /> Glen A.Featherstun <br /> Featherstun,Gaumer, Stocks,Flynn&Eck,LLP <br /> 101 S. State Street, Suite 240 <br /> P.O. Box 1760 <br /> Decatur, IL 62525-1760 <br /> S. Seller warrants that to the best of its knowledge,information and belief,there are no <br /> underground storage tanks or other known environmental issues of any kind located <br /> upon the real estate. <br /> 9. Seller and City 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 />