R2023-227 Resolution Authorizing Farmland Real Estate Purchase in Dewitt County Pursuant to the Water Consultant's Recommendations (Intera)

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DocuSign Envelope ID:B6AD9789-9E00-4D4B-A4D2-BODECF42C8E5 4. REAL ESTATE TAXES-Drainage Taxes and Special Assessment The 20 22 real estate taxes, special assessments due and payable in 2023 shall be paid by Seller The 2023 real estate taxes, special assessments due and payable in 2024 shall be paid by Seller If payment is the responsibility of the Seller, (a) taxes will be paid at closing,or(b) X Buyer shall be credited for the 2023 real estate taxes at closing, based upon the most current and available information, including confirmed multipliers. T44e-2-0— re-al estate taxes,speGial assessmeRts due and payable FR 20 shall be pFgrated to the date 9f G1064A The 20 23 drainage taxes due and payable in 20 23 shall be paid by Seller(if any) If Buyer receives a credit at closing, payment of said taxes for which the credit is applicable is now the responsibility of the Buyer. 5. CROPS AND EXPENSES Seller X /Buyer shall receive the Landowner share of crops or 100 %of the cash rent for the 20 23 crop year. Seller_/Buyer X shall receive the Landowner share of crops or 100 %of the cash rent for the 20_24 crop year. Seller X /Buyer_shall pay 100 %of the Landowner's share of the 20 23 crop expenses. Seller X /Buyer shall pay 100 %.ofd_ N/Aof the Landowner's share of the 20 23 crop expenses, incurred prior to closing. 6. GOVERNMENT AGRICULTURAL PROGRAM PAYMENTS A. Buyer agrees to continue to honor any existing government agricultural program contracts affecting the Property, and agrees to indemnify and hold harmless Seller for any damage Seller may sustain by reason of any failure of Buyer to keep or perform any of the covenants and obligations provided to be kept or performed under the terms and conditions of any such contracts by Seller. B. —shall Seller_/Buyer X shall receive the landowner share of ARC/PLC government program payments for the 20 24 crop year. Current Tenant 'R—/shall receive the landowner share of ARC/PLC government program payments for the 20 23 crop year. C. Seller X /Buyer shall receive the landowner share of government conservation program payments for the 20 23 crop year. Seller /Buyer X shall receive the landowner share of government conservation program payments for the 20 24 crop year. D. Other Government program payments: (If applicable note program name(s), recipient,and crop year below.): Any 2023 and prior payments to Seller.Any 2024 and later payments to Buyer 7. LEASE ASSIGNMENT/TERMINATION A. There is X isnot currently a tenant in possession of the Property. Seller shall X shall not be responsible for the assignment of the current farm lease with the tenant in possession of the Property to the Buyer. B. Seller shall X shall not_be responsible for the termination of the rights of any tenant in possession of the Property. If Seller is responsible,then Buyer shall have the right to demand satisfactory evidence that the rights of all parties to possession have been terminated. 8. ATTORNEY REVIEW(check if applicable X The parties shall have until 5:00 p.m. Central Time on October 16 20 23 ("Review Period")to have the Contract reviewed by their respective attorney, and that attorney may propose modifications within the Review Period,except that an attorney may not propose changes in price or the date of closing. If the Parties do not reach agreement on any proposed modification and written notice terminating this Contract is given to the other within the Review Period,this Contract shall be null and void and any earnest money refunded to Buyer. If written notice is not served within the Review Period,this provision shall be deemed waived by the parties and this Contract shall remain in full force and effect. 9. CONVEYANCE A. At closing Seller shall convey and transfer the Property to Buyer by Warranty Deed,Trustee's Deed,appropriate assignment,or other similar acceptable instrument of conveyance,which instrument shall be subject to the exceptions permitted herein, releasing homestead. At the same time the balance of the purchase price then due shall be paid and all documents relative to the transaction shall be signed and delivered. In the event the Buyer shall assume an existing indebtedness,cost of such assumption shall be borne by Buyer. er. B. At Closing Seller shall deliver to Buyer a completed Real Estate Transfer Declaration signed by Seller in the form required pursuant to the Real Estate Transfer Tax Act of the State of Illinois. Any transfer tax imposed by the Real Estate Transfer Declaration shall be paid by Seller X /Buyer C. Recording fees imposed on the recording of the deed shall be paid by Seller /Buyer X 2 DS ©REALTORS®LAND I SplpfE©ILLINOIS CHAPTER FOR THE USE OF MEMBERS ONLY-2022 Seller's Initials Seller's Initials Buyer'sInitial`s.. l� i�Buyer's Initials J