R2014-25 AUTHORIZING FOURTH AMENDMENT TO CONTRACT OF SALE WITH HARRISON MANAGEMENT GROUP, LLC

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r 7224 3/25/14 FOURTH AMENDMENT THIS FOURTH AMENDMENT ("Amendment") is entered into this 7th day of April , 2014 between the CITY OF DECATUR, an Illinois municipal corporation ("Seller"), and HARRISON MANAGEMENT GROUP LLC ("Buyer"). Reference is made to: A. Seller and Buyer entered into a Contract of Sale dated September 16, 2013 and October 7, 2013 (the "Contract") regarding property in Decatur, Illinois as more particularly described in the Contract, as amended by an Amendment dated December 3, 2013 between Seller and Buyer, a Second Amendment dated January 21, 2014 between Seller and Buyer, and a Third Amendment dated March 3, 2014 between Seller and Buyer amending certain terms and conditions in the Contract; and B. Seller's and Buyer's desire to further amend certain terms and conditions in the Contract as provided in this Amendment. NOW, THEREFORE, in consideration of ten dollars ($10.00) paid by Buyer to Seller, the receipt of which is acknowledged by Seller, and of other valuable consideration, the parties agree as follows: 1. Subject to Paragraph 2 below, Buyer acknowledges that it has satisfied or is hereby waiving all of the conditions described in Paragraphs 3.1 and 3.2 of the Contract. 2. Buyer's obligations under the Contract are subject to Seller and GMRI, Inc. amending the Olive Garden Agreement by May 23, 2014, such amendment to provide that (a) GMRI, Inc. agrees to share in the cost to maintain the "Overflow Parking Area" (as defined in the Olive Garden Agreement) and share in the payment of real estate taxes assessed against the Overflow Parking Area, and (b) Buyer may have up to 2000 square feet of floor area devoted to restaurant use in its proposed building to be constructed on the Property. Seller shall request that GMRI, Inc. grant to Buyer or Ameren an electric easement so that Buyer can have electric service to the Property from the transformer on the GMRI, Inc. property, but GMRI, Inc.'s refusal to so grant such easement is not a condition of Buyer's obligations under the Contract. 3. All capitalized terms in this Amendment shall have the meaning given to them in the Contract, unless given a different meaning in this Amendment.