R2008-56 AUTHORIZING TRANSFER OF REAL ESTATE

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� recognized financial institution, cash reserves and/or other programs deemed sufficient by the City of Decatur. The BUYER agrees to rent and maintain the Property for a minimum of five years. 8. At settlement, SELLER shall deliver to BUYER a quit claim deed, conveying and relinquishing SELLER'S entire interest in the Property, in such form and together with such documentation as shall be required for recording said deed. BUYER agrees to pay the cost of recording with the Recorder of Deeds any documents necessary to complete transfer of ownership, including lien releases. 9. SELLER shall be under no obligation to conduct an environmental site audit to complete this transaction, and to the fullest extent permitted by law, BUYER shall indemnify and hold the SELLER harmless from any and all claims alleging environmental defects on the Property. 10. Notice given or required under this contract must be given in one of the following forms: (i) Personally; (ii) By certified mail, return receipt requested, properly addressed and all charges prepaid; or, (iii) By express delivery with charges prepaid and addressed to the appropriate party at the address set forth below. Notices shall be deemed to have been received on the date of personal service or the 3�d day following date postmarked. Notice shall be served upon or addressed to the parties as follows: TO SELLER: Greg Crowe, Director Economic and Urban Development One Gary K. Anderson Plaza Decatur, IL 62523 TO BUYER: Bryan A. Kite 2196 N. Main Street Decatur, IL 62526 11. BUYER shall pay the SELLER the sum of One Thousand Eight Hundred Dollars ($1,800.00) at such time and place in Decatur, Illinois as shall be mutually agreeable to BUYER and SELLER, which event shall be called settlement. BUYER shall be entitled to possession of