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Book : 3758 Page : 101 <br /> Municipality or its escrow agent. The Earnest Money will be applied in full payment of <br /> the Purchase Price at Closing unless returned to Developer under the terms of this <br /> Agreement; and (ii) the Developer's share of any Closing and other costs will be paid by <br /> Developer via cashier's or certified check or by wire transfer at Closing. <br /> B. CONVEYANCE. Conveyance shall be by Warranty Deed. All transfer taxes shall be <br /> paid by the Municipality at the time of Closing. The conveyance shall be free from all <br /> liens and encumbrances of any kind, except for those easements and restrictions and other <br /> encumbrances and exceptions set forth within the Title Commitment to which objection <br /> is not made by Developer(the "Permitted Exceptions"), so as to convey to the <br /> Developer good and marketable title. Recording of the deed will be at Developer's <br /> expense. Developer and Municipality shall each pay one-half(1/2) of the Closing Costs <br /> charged by the Title Insurance Company(as defined below). <br /> C. CLOSING. <br /> 1. Time. The closing on the transfer of ownership of the Premises shall take place <br /> on a date and time mutually agreed to by Municipality and Developer on or <br /> before February 1, 2007 (the "Closin�"). <br /> 2. Place. The Closing shall be held at the Decatur Civic Center, 1 Gary K. <br /> Anderson Plaza, Decatur, Illinois or Developer's lender, if any, or in another <br /> place by agreement of the parties. <br /> 3. Municipality's Deliveries. Municipality shall deliver to Developer, at Closing, <br /> the following executed and acknowledged, if required,documents each of which <br /> shall be reasonably satisfactory in form and substance to Developer. <br /> (i) Deed. A Warranty Deed ("Deed"), conveying good, marketable <br /> and insurable fee simple title to the Premises. Title shall be free and <br /> clear of all Title Defects, except Permitted Exceptions and any <br /> exceptions as reflected in the Title Commitment which Developer has <br /> waived in writing prior to Closing. <br /> (ii) A Real Estate Transfer Declaration. <br /> (iii) Affidavits. Affidavit(s) stating that, to the best of the <br /> Municipality's knowledge after due inguiry, (1)there are no unrecorded <br /> leases or agreements affecting the Premises, (2) there are no mechanic's <br /> or statutory liens against the Premises, and (3) such other affidavits as <br /> Developer, its lender, or the title company may reasonably require. <br /> (iv) Notes: Execution and delivery of Notes as required pursuant to <br /> this A�reement. <br /> (v) Deliverv of Reports/Assi ng ment of Warranties: Delivery of all <br /> existing inspection reports, contracts, photographs, and other documents <br /> as requested by Developer concerning the Premises, a certificate of <br /> origination of the soil used to fill the hole on the Premises and the written <br /> assignment to Developer of all warranties pertaining to the Premises. <br /> R�L�c zoo�o9a6�i 3 <br />