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Hook : 3970 Rages 496 <br /> REAL ESTATE <br /> PURCHASE AGREEMENT <br /> DECATUR CONFERENCE CENTER AND HOTEL I <br /> DECATUR, ILLINOIS <br /> THIS PURCHASE AGREEMENT (the "Agreement") is made and entered I <br /> into as of the � � day of November, 2007, by and befinreen LAKEVIEW I <br /> HOSPITALITY, LLC, an Illinois Limited Liability Company, with its principal , <br /> lace of business located at 330 Marion Avenue, Fors h, Illinois, 62535 the I, <br /> P � � I <br /> "Buyer") and CITY OF DECATUR, ILLINOIS, a Municipal Corporation, One � <br /> Gary K. Anderson Plaza, Decatur, Illinois 62523, (the "Seller"). , <br /> WHEREAS, Seller owns a Conference Center and Hotel (the "HoteP') I <br /> located at 4191 West U. S. Route 36, Decatur, Illinois 62522, said Hotel being <br /> comprised of approximately 370 guest rooms, finro restaurants with only one <br /> currently operating, an entertainment and operating lounge, a swimming pool, i <br /> exercise training facilities and approximately 55,000 square feet of public <br /> meeting and convention space; legally described as (See Exhibit "A"), and, <br /> WHEREAS, the Hotel is currently being managed by Horve Hospitality , <br /> Management, Inc. ("Horve") pursuant to a Management and Lease Agreement �', <br /> dated October 11, 2007 ("Management Agreement"); and I�I <br /> WHEREAS, Seller desires to sell and assign to Buyer all of Seller's assets <br /> related to the Hotel under the terms and conditions of this Agreement; and <br /> WHEREAS, Buyer desires to purchase from Seller all such assets related <br /> to the Hotel under the terms and conditions of this Agreement. <br />