R2023-164 Resoluiton Authorizing the Purchase of Property Located at 1570 W Forest Avenue, in Decatur, Illinois

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SELLER: CITY: Land of Lincoln Credit Union City of Decatur Attn: City Manager 3130 E. Mound Rd. One Gary K. Anderson Plazza Decatur, IL 62524 Decatur, IL 62523 8. Seller warrants that to the best of its knowledge, information and belief, there are no underground storage tanks of any kind located upon the real estate. 9. Seller and City represent to each other that each has retained and relied or had the opportunity to retain and rely on its own legal counsel, accountants and other professional advisers in connection with the negotiation, execution, and performance of this Agreement and its consequences, including, without limitation, tax consequences. Seller and City represent to each other that any such professional fees and expenses incurred in connection with this Agree- ment and its performance or in any other regard, shall be the sole obligation of that party, and each party shall pay its own expenses related to this Agreement and performance of its respective obligations hereunder. 10. Each signator to this Agreement warrants and represents that such signator is duly authorized to execute this Agreement on behalf of the party for who the Agreement is signed. 11. Seller and City acknowledge and agree that this purchase is for a governmental purpose and that this Agreement is expressly contingent upon its approval by the Decatur City Council. 12. This is an enforceable Agreement placing specific obligations on the City and the Seller. Either Party is entitled to all legal remedies available under law or equity, including suit for specific performance or damages. 13. Time shall be considered to be of the essence of this Agreement. 14. This Agreement contains the entire understanding of the parties hereto in respect of the transactions contemplated hereby and supersedes all prior agreements and understandings between the parties with respect to such subject matter.