R2009-56 AUTHORIZING TRANSFER OF REAL ESTATE

Home Browse Search

REAL ESTATE TRANSFER AGREEMENT . L E r o nv II' 1 THE CITY OF DECATUR, ILLINOIS, a Municipal Corporation, as SE L R, ag ees t co ey, and BRYAN A. KITE, as BUYER, agrees to purchase an improved parcel of real property legally described as: Lot Sixteen (16), Block 2, of Power's 7th Addition to the City of Decatur, as per Plat recorded in Book 149 Page 552 of the records in the Recorder's Office of Macon County, Illinois, EXCEPT Beginning at a point on the West Line of Lot Sixteen (16), Block (2) of Powers 7�h Addition to the City of Decatur, as per Plat recorded in Book 149, Page 552 of the Records in the Recorder's Office of Macon County, Illinois, One and Forty Four hundredths feet (1.44') North of the Southwest corner of said Lot Sixteen (16), thence Northeasterly on a curve to the Left having a radius of Five Hundred and Eighty Three and two hundredths Feet (583.02') to a point on the East Line of said Lot Sixteen (16) Five and Seventy-Two hundreds feet (5.72') North of the Southeast corner of Lot Sixteen (16), thence South Five and Seventy Two hundredths (5.72') to the Southeast Corner of said Lot Sixteen (16), thence West to the Southwest corner of said Lot Sixteen (16), thence North One and Forty Four Hundredths feet (1.44') to the Point of beginning. Situated in Macon County, Illinois. Commonly known as 1644 E. Grand Street, Decatur, Illinois, (the "Property"), for good and valuable consideration, to wit: Four Thousand One Hundred Fifty Dollars ($4,150.00). 2. The Permanent Index Number for the property is: 04-12-12-156-016. 3. BUYER acknowledges that the Property is currently zoned R-3 Single Family District. 4. BUYER acknowledges that SELLER has not furnished a binding commitment for owner's title insurance policy insuring against defects in the merchantability of title of the Property, and further acknowledges that SELLER makes no warranties regarding merchantability of title. SELLER shall convey, and BUYER shall accept such title as is equitably vested in SELLER at the date of execution of this contract. BUYER acknowledges that SELLER'S interest in the Property is subject to coal and mineral rights if now reserved or conveyed of record, and easements and building and use restrictions now of record. BUYER acknowledges that SELLER'S interest in the Property may be subject to potential title defects. 5. SELLER shall provide BUYER written releases of all valid liens and encumbrances against the Property recorded or held in favor of SELLER only, and shall forgive and forbear to pursue all expenses and costs of maintaining the Property up to the date of closing. No notices, suits or judgments relating to the Property and not described above have been received by the SELLER.