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DEVELOPMENT AGREEMENT <br /> � 1 <br /> This Development Agreement is made and entered into this day of March, 2011 by <br /> and between the CITY OF DECATUR, an Illinois Municipal Corporation ("Owner"), and <br /> HURWITZ ENTERPRISES, LLC., an Illinois Limited Liability Company ("Developer"), <br /> Reference is made to the following: <br /> A. Owner owns certain real estate in Macon County, Illinois, which is more <br /> particularly described in the attached Exhibit A (the "Developer Tract of Mound <br /> Center"); <br /> B. The Mound Center Tract is currently developed with a Target Store, a strip center <br /> with a Starbucks and an Olive Garden; <br /> C. Owner desires to employ Developer to develop the remaining portion of the <br /> Shopping Center Tract exclusive of the Target, Starbucks and Olive Garden Tracts (the <br /> "Developer Tract" as shown in the attached Exhibit B) in accordance with the terms of <br /> this Agreement. <br /> Article 1 —Employment of Developer <br /> Subject to the terms and conditions in this Agreement, Owner hereby employs Developer <br /> to develop the Developer Tract so that the Developer Tract is developed in a quality manner. <br /> Developer agrees to make available to Owner the full benefit of its experience and judgment in <br /> the development of Developer Tract. <br /> Article 2—Term <br /> This Agreement shall become effective and Developer's authority, duties and <br /> responsibilities hereunder shall be deemed to have commenced as of the date of the execution of <br /> this Agreement and shall continue until December 31, 2012. <br /> Article 3 —Responsibilities of Developer <br /> The responsibilities of Developer to be performed relating to the development of the <br /> Developer Tract includes the following: <br />