R2010-228 AUTHORIZING EXCHANGE OF REAL ESTATE

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�' RECIPROCAL REAL ESTATE RANSFER AGREEMENT THIS AGREEMENT, made thisV day of ��G�'�010, between the City of Decatur, Illinois, a Municipal Corporation (City), and Nick G. Striglos, (Striglos) WITNESSETH: WHEREAS, City and Striglos agree to construct a parking lot to the north of Striglos' building in conformity with the drawing attached hereto as EXHIBIT A; and WHEREAS, the parties own adjacent parcels of real property in the 300 block of North Main Street in Decatur; and WHEREAS, each party wishes to convey a portion of its parcel to the other, retaining a portion of the original parcel for itself; and WHEREAS, the parties intend that the exchange shall result in Striglos owning a parcel approximately 18 feet by 152 feet, along the north side of its building in the 300 block of North Main Street consisting of approximately 2,736 square feet more or less, and City owning a parcel approximately 25 feet by 152 feet, immediately adjacent and to and north of Striglos' new parcel, consisting of approximately 3,762 square feet more or less; and WHEREAS, Striglos and City desire to dedicate the said parking lot for vehicle parking and access purposes: NOW THEREFORE in consideration of the mutual covenants contained herein, the parties agree as follows: 1. City shall convey to Striglos that portion of Lot 3 in Block 2 of Cowan and Hostetler's Addition to Decatur, as per plat recorded in Book A, Page 201 of the Records in the Recorders Office of Macon County, Permanent Index Number 04-12-15-237-007, street address 322—328 N. Main St., Decatur, Illinois, described as follows: Commencing at a point 29 '/z feet North of the Southwest corner of Lot 3 in block 2 of Cowan & Hostetler's Addition to Decatur, thence East 80 feet; thence North '/z feet; thence East 10 feet; thence North 17 'h feet; thence West 90 feet, thence South 18 feet to the point of beginning, (The Striglos parcel.) 2. Striglos shall convey to City that portion of Lot 3 in Block 2 of Cowan and Hostetler's Addition to Decatur, as per plat recorded in Book A, Page 201 of the Records in the Recorders Office of Macon County, Permanent Index Number 04-12-15-237-008, street address 322—328 N. Main St., Decatur, Illinois, described as follows: Commencing at the Northeast corner of Lot 3 in Block 2 of Hostetler's part of Cowan and Hostetler's Addition to Decatur; thence West 62 feet; thence South 25 feet; thence East 62 feet; thence North 25 feet to the point of beginning, (The City parcel.)