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REAL ESTATE PURCHASE AGREEMENT <br /> THIS AGREEMENT ("Agreement") is entered into by and between Land of Lincoln <br /> Credit Union ("Seller") and the City of Decatur,Illinois, an Illinois municipal corporation <br /> ("City"). <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. seq. <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. Chapter 33 of the City Code of the City of Decatur provides that the City may acquire <br /> property as the Council authorizes or approves. <br /> D. Seller owns property located at 1570 W. Forest Avenue, Decatur, Illinois that it desires to <br /> sell. <br /> E. The City desires to purchase the property as 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, Seller shall transfer the <br /> premises located at 1570 W. Forest, Decatur, Illinois and more particularly described in Exhibit <br /> A attached hereto and incorporated by reference ("Property")together with all improvements <br /> thereon and the appurtenances and fixtures thereto belonging to the City under the terms set forth <br /> in this Agreement. <br /> 3. City shall pay to the Buyer the sum of Thirty-Five Thousand Dollars ($35,000.00) <br /> for purchase of the above described property, together with all improvements thereon and the <br />