R2014-135 AUTHORIZING REAL ESTATE CONTRACT

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(a) Seller approving Buyer's site plan and landscape plan for Seller's proposed development of the Property. (b) Buyer obtaining all approvals and permits from all governmental authorities having jurisdiction over the Property which are necessary to permit Buyer's proposed development of the Property. (c)Buyer maintaining all utility easements within or relocating all utilities from a part of the sixteen foot alley located in Block 2 of J.K. Warren and Co's Fourth Addition as per Plat recorded in Book 93,Page 11 of the records in the Recorder's office of Macon County,Illinois more particularly described on Exhibit B attached hereto. If all of the foregoing conditions have not been satisfied within 60 days after the Effective Date of this Contract,then this Contract may be terminated by Seller by written notice to Buyer. As used in this Contract, "Effective Date of this Contract"means the date that both parties have executed this Contract and received a fully executed original of this Contract. 3.2 Buyer's obligations under this Contract are subject to the following conditions: (a) Buyer may, at its expense and option,obtain such title reports and surveys as to the Premises as Buyer may desire. Buyer shall advise Seller in writing within 30 days after the effective date of this agreement concerning any defect in the condition of title disclosed by such reports or surveys and rendering the title unmarketable. In the event of such notice,the conveyance to Buyer shall be delayed pending Sellers efforts to resolve the same. In event Seller is unable or unwilling to cure such defects within a reasonable time after notice thereof, Buyer or Seller may elect to cancel and terminate this agreement and the rights and obligations of the parties hereunder; and in such event, Seller shall refund to Buyer all sums paid hereunder if Buyer shall so elect. Failure to notify Seller of any objectionable title defect as above said shall constitute a waiver 2