Laserfiche WebLink
which will ultimately be sold. The property excepted is generally that portion between Lake <br /> Decatur and a line running fifty (50) feet along the west side of a road which runs along Lake <br /> Decatur. This fifty (50) feet will be measured from the center of the roadway. If ADM is the <br /> successful bidder, it is further agreeing to maintain an additional fifty (50) feet of this newly- <br /> acquired property running along the lake as a"green space"in perpetuity. <br /> B. Brush College Property. The conveyance from the DPD to the successful bidder <br /> will also include approximately eight (8) acres of real property, more or less, which the parties <br /> have referred to as the `Brush College Property," It is agreed and understood that none of the <br /> Brush College Property which will be conveyed will be real property currently utilized by the <br /> Decatur School District as a parking lot and play ground. A portion of the property not being <br /> conveyed, which consists of four (4) acres, more or'less, is subject to a previous conservation <br /> grant from the United States Government. <br /> 2. EXHIBITS. The parties have utilized two different plats to illustrate the <br /> property which will be conveyed and which further illustrates the 50-foot strip of land running <br /> along Lake Decatur which will be retained by the DPD. (Said plats are attached hereto as <br /> Exhibits A (Faires Park Property) and B(Brush College Property).) <br /> ADM and DPD acknowledge that the 50-foot'exception varies inat least one place. <br /> There is one area of property located adjacent to the north side of the existing parking area, <br /> approximately 700 feet, southwest of the equipment shed below the dam of Faries Park Lake and <br /> extending northeast to the dam road (approximately four(4)acres)consisting of a small wooden <br /> hill which will also be excepted from the conveyance). This area of exception is further shown <br /> on Exhibit A. <br /> The second plat (Exhibit B) shows the Brush College area and illustrates the property <br /> being conveyed as well as the property being retained by DPD. <br /> 3. ADM PROPERTY. DPD is aware that ADM recently purchased approximately <br /> one hundred fifteen (I 15) acres, more or less, which lies to the east of U. S. Route 51 and South <br /> of Grove Road as shown by plat and attached hereto as Exhibit C. The DPD is aware that ADM <br /> purchased this real property on or about August 29, 2003, for the sum of Eight Hundred <br /> Thousand Dollars($800,000.00). <br /> ADM has heretofore provided Edward Booth, Esq., with a copy of the Commitment for <br /> Title Insurance to the ADM property. Counsel for the DPD reviewed the Commitment for Title <br /> Insurance and found it to be in good form. The DPD agrees that the ADM property may be <br /> subject to the same form of title insurance, including exceptions, at the time of the sale of this <br /> property from ADM to DPD. <br /> 4. REFERENDUM. The parties have determined that this entire transaction <br /> should be submitted to the voters residing within the DPD pursuant to a referendum as is more <br /> particularly provided for in the Illinois Compiled Statutes, Ch. 10 and 70. The parties agree that <br /> they will work together so that these issues are appropriately submitted to the voters at the next <br /> general primary election on March 16, 2004. After the approval of the referendum, ADM is <br /> 2 <br />