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Book: 38?0 �age: 505 <br /> SELLER: With a copy to: <br /> City Manager Corporation Counsel <br /> City of Decatur City of Decatur <br /> One Gary K. Anderson Plaza One Gary K. Anderson Plaza <br /> Decatur, Illinois 62523 Decatur, Illinois 62523 <br /> BUYER: <br /> Lakeview Hospitality, LLC <br /> 330 Marion Avenue <br /> Forsyth, Illinois 62535 <br /> 14. Miscellaneous. <br /> a. Possession of the Purchased Assets and the Hotel shall be <br /> transferred on the Closing Date. All risks of loss with respect to the Purchased <br /> Assets and the Hotel shall be as set forth in the provisions and terms of the <br /> Management Agreement befinreen the Seller and Horve Hospitality dated October <br />' 15, 2007. If prior to the earlier of delivery of possession or closing thereunder, <br /> the improvements on said Premises shall be destroyed or materially damaged by <br /> fire or other casualty, then Buyer shall have the option of (a) declaring this <br /> Agreement null and void and receiving a refund of earnest money or (b) of <br /> e tin the remises dama ed or destro ed, with the proceeds of any <br /> acc g p g Y <br />� p <br /> insurance payable as a result of the destruction or damaged. In no event shall <br /> the Seller be obligated to repair or replace the damaged improvements. <br /> b. Buyer and Seller represent to each other that each has retained <br /> and relied on its own legal counsel, accountants and other professional advisers <br /> in connection with the negotiation, execution, and performance of this Agreement <br /> and its consequences, including, without limitation, tax consequences. Buyer <br /> io <br />