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, <br /> . <br /> all right, title and interest of Municipality in and to any and all roads, streets, alleys and ways, <br /> bounding such property, all hereinafter referred to as "the Premises." <br /> A. PURCHASE PRICE. The purchase price shall be Ten Dollars $10.00) (the <br /> "Purchase Price") payable by Developer in cash as follows: (i) on the date of <br /> last execution of this Agreement, Developer will deposit Ten Dollars ($10.00) <br /> (this deposit, together with any interest accrued thereon is hereinafter referred to <br /> as the "Earnest Money") with the Municipality or its escrow agent. The Earnest <br /> Money will be applied in full payment of the Purchase Price at Closing unless <br /> returned to Developer under the terms of this Agreement; and (ii) the Developer's <br /> share of any Closing and other costs will be paid by Developer via cashier's or <br /> certified check or by wire transfer at Closing. <br /> B. CONVEYANCE. Conveyance shall be by Warranty Deed. All transfer taxes shall <br /> be paid by the Municipality at the time of Closing. The conveyance shall be free <br /> from all liens and encumbrances of any kind, except for those easements and <br /> restrictions and other encumbrances and exceptions set forth within the Title <br /> Commitment to which objection is not made by Developer (the "Permitted <br /> Exceptions"), so as to convey to the Developer good and marketable title. <br /> Recording of the deed will be at Developer's expense. Developer and <br /> Municipality shall each pay one-half (1/2) of the Closing Costs charged by the <br /> Title Insurance Company (as defined below). <br />' C. CLOSING. <br /> 1. Time. The closing on the transfer of ownership of the Premises shall take <br /> place on a date and time mutually agreed to by Municipality and <br />' Developer on or before August 1, 2011 (the "Closing"). <br /> 2. Place. The Closing shall be held at the Decatur Civic Center, #1 Gary K. <br /> Anderson Plaza, Decatur, Illinois or Developer's lender, if any, or in <br /> another place by agreement of the parties. <br /> 3. Municipality's Deliveries. Municipality shall deliver to Developer, at <br /> Closing, the following executed and acknowledged, if required, <br /> documents each of which shall be reasonably satisfactory in form and <br /> substance to Developer. <br /> (i) Deed. A Warranty Deed ("Deed"), conveying good, marketable <br /> and insurable fee simple title to the Premises. Title shall be free and clear <br /> of all Title Defects, except Permitted Exceptions and any exceptions as <br /> reflected in the Title Commitment which Developer has waived in writing <br /> prior to Closing. <br /> (ii) A Real Estate Transfer Declaration. <br /> - 3 - <br />