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�ooks 3870 Pagea 502 <br /> breach of any terms of, or constitute a default under any agreement or instrument <br /> by which Buyer is bound, or any law, order, rule, regulation, writ or injunction, of <br /> any governmental body having jurisdiction over Buyer. <br /> b. This Agreement has been duly authorized, executed and delivered <br /> by Buyer. No consent or approval by any other person or entity, public or private, <br /> is required, and no other proceedings are required to be taken by Buyer to make <br /> this Agreement a valid and binding obligation of Buyer and enforceable in <br /> accordance with its terms. <br /> 8. Representations and Warranties of Seller. To induce Buyer to <br /> enter into this Agreement, Seller and its shareholders hereby jointly and severally <br /> represent and warrant to Buyer as follows: <br /> a. Seller is a duly organized, validly existing Municipal Corporation <br /> under the laws of the State of Illinois. <br /> b. Seller has good and marketable title to all of the Purchased Assets <br /> except as specifically provided for herein. The Purchased Assets are free and <br /> clear of all mortgages, security interests, liens, leases, easements or <br /> encumbrances, or other rights of any kind, except for security interests or leases <br /> that will be satisfied or assumed by Buyer at or prior to the closing date. <br /> c. Seller has received no notice of pending or threatened claims, li <br /> suits, actions, or arbitrations or regulatory, legal, or other proceedings or <br /> investigations affecting the Hotel, the Purchased Assets, or Seller's rights and <br /> obligations under this Agreement. <br /> 9. Closing Date. The purchase and sale transaction contemplated <br /> hereunder shall be consummated at The Decatur Civic Center, One Gary <br /> � <br />