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� �� <br /> REAL ESTATE PURCHASE CONTRACT <br /> 1. THE CITY OF DECATUR, ILLINOIS, a Municipal Corporation, as <br /> SELLER, agrees to seil, and KELLY J. CLARK as BUYER agrees to purchase at <br /> the price of Two Thousand Five Hundred Dollars ($2,500.00), the following <br /> legally described real estate (Premises) situated in Macon County, State of <br /> Illinois: <br /> The East 56 feet of Lot 11 of Block 14 of E.O. Smith's <br /> Resurvey of Western Addition in Macon County, Illinois, as <br /> per plat recorded in Book 10, Page 203 of the records in the <br /> Recorder's Office of Macon County, Illinois, <br /> Commonly known as 304 West William Street, Decatur, Illinois. The Permanent <br /> Index Number for this property is: 04-12-15-210-016. <br /> 2. Buyer has paid no earnest money to Seller. <br /> 3. BUYER shall pay SELLER the sum of Two Thousand Five Hundred <br /> Dollars ($2,500.00) at such time and place in Decatur, Illinois as shall be <br /> mutually agreeable to BUYER and SELLER, which event shall be called <br /> settlement. BUYER shall be entitled to possession of the property on the date of <br /> settlement. Settlement shall occur no more than eighteen (18) months after the <br /> date of this contract. <br /> 4. Buyer acknowledges that the property is currently zoned R-6 <br /> Multiple Dwelling District; that a dental office is not an allowable use in the R-6 <br /> District; and that the property must be rezoned to O-1 Office District before <br /> building permits are issued allowing the construction of a dental office on the site. <br /> 5. BUYER acknowledges that SELLER has not furnished a binding <br /> commitment for owner's title insurance policy insuring against defects in the <br /> merchantability of title of the property, and further acknowledges that SELLER <br /> makes no warranties regarding merchantability of title. SELLER shall convey, <br /> and BUYER shall accept such title as is equitably vested in SELLER at the date <br /> of execution of this contract. BUYER acknowledges that SELLER'S interest in <br /> the property is subject to coal and mineral rights if now reserved or conveyed of <br /> record, and easements and building and use restrictions now of record. BUYER <br /> acknowledges that SELLER'S interest in the property may be subject to potential <br /> title defects. <br /> 6. SELLER shall provide Buyer written releases of all valid liens and <br /> encumbrances against the property recorded or held in favor of SELLER only, <br /> and shall forgive and forbear to pursue all expenses and costs of maintaining the <br /> 1 <br />