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REAL ESTATE PURCHASE AGREEMENT <br /> THIS AGREEMENT("Agreement") is entered into by and between Miracle Valley <br /> Incorporated, an Illinois corporation ("Miracle Valley") and the City of Decatur, Illinois, an <br /> Illinois municipal corporation ("City"). <br /> RECITALS <br /> A. The City is a municipal corporation as set forth in the Illinois Municipal Code, 65 ILCS <br /> 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 and dispose of property as the Council authorizes or approves. <br /> D. City owns property located at 1921 N. Railroad Avenue, Decatur, Illinois that it desires to <br /> transfer to Miracle Valley under the terms of this Agreement. <br /> E. Miracle Valley owns property located at 905 E. Wood St., Decatur, Illinois that it desires <br /> to transfer to City under the terms of 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, Miracle Valley shall transfer <br /> to the City the premises located at 901-905 East Wood St.,Decatur, Illinois ("Wood St. <br /> Property") and legally described as: <br /> Lots Eight (8),Nine(9), Ten(10), Eleven (11)and Twelve (12) in Block <br /> Four(4) of John's First Addition to the City of Decatur, as per Plat recorded <br /> in Book 335, Page 248 of the Records in the Recorder's Office of Macon <br /> County, Illinois. Situated in Macon County, Illinois, <br />