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R2023-273 Resolution Authorizing Real Estate Purchase Agreement Including the Transfer of Real Estate Miracle Valley - City of Decatur 901-905 E. Wood Street and 1921 N. Railroad Avenue
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R2023-273 Resolution Authorizing Real Estate Purchase Agreement Including the Transfer of Real Estate Miracle Valley - City of Decatur 901-905 E. Wood Street and 1921 N. Railroad Avenue
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12/12/2023 12:08:50 PM
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12/12/2023 12:08:49 PM
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Resolution/Ordinance
Res Ord Num
R2023-273
Res Ord Title
R2023-273 Resolution Authorizing Real Estate Purchase Agreement Including the Transfer of Real Estate Miracle Valley - City of Decatur 901-905 E. Wood Street and 1921 N. Railroad Avenue
Department
City Clerk
Approved Date
12/4/2023
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necessary repairs to the structure located on the RR Property to meet City ordinances,building <br /> codes and property maintenance codes within twelve (12)months of Settlement. Miracle Valley <br /> shall make all remaining and necessary repairs to the structure located on the RR Property to <br /> meet City ordinances, building codes and property maintenance codes within twenty (20)months <br /> of Settlement. If Miracle Valley fails to comply with any of the timelines set forth in this <br /> Agreement and/or fails to make all necessary repairs as set forth in this Agreement, Miracle <br /> Valley shall return and transfer to the City the RR Property acquired under the terms of this <br /> Agreement within fifteen(15)days of demand by the City. <br /> 12. All notices, demands and requests that are required or allowed to be given by <br /> either 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 party <br /> may subsequently designate in writing: <br /> MIRACLE VALLEY: CITY: <br /> Miracle Valley Incorporated City of Decatur <br /> Dennis Lyles, President City Manager <br /> P.O. Box 6041 One Gary K. Anderson Plazza <br /> Decatur, IL 62526 Decatur, IL 62523 <br /> 13. Both parties warrant that to the best of its knowledge, information and belief, there <br /> are no underground storage tanks of any kind located upon the property they currently own. <br /> 14. Miracle Valley and City represent to each other that each has retained and relied or <br /> had the Opportunity to retain and rely on its own legal counsel, accountants and other <br /> professional advisers in connection with the negotiation, execution, and performance of this <br /> Agreement and its consequences, including, without limitation, tax consequences. Miracle <br /> Valley and City represent to each other that any such professional fees and expenses incurred in <br /> connection with this Agreement and its performance or in any other regard, shall be the sole <br /> obligation of that party, and each party shall pay its own expenses related to this Agreement and <br /> performance of its respective obligations hereunder. <br /> 15. Each signator to this Agreement warrants and represents that such signator is duly <br />
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