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. � � � , , <br /> � <br /> REAL ESTATE PURCHASE CONTRACT <br /> � 1. TMS DEVELOPMENT, LLC, as Seller, agrees to sell and the CITY OF <br /> DECATUR, ILLINOIS, as Buyer, agrees to purchase at the price of One <br /> Hundred Eighty-Five Thousand Dollars the following legaily described real <br /> estate ("Premises") situated in Macon County, State of Illinois, <br /> Lot Three (3) of William Bandy's Addition as per Plat recorded in <br /> Book G Page 30 of the records in the Recorder's Office of Macon <br /> County, Illinois, and commonly known as 240 and 256 North <br /> Church Street, Decatur, Illinois. <br /> The Tax ID#'s for this property are: 04-12-15-277-001 and 04-12-15-277-002. <br /> 2. Buyer shall pay no earnest money. <br /> 3. Selier shall promptiy furnish to Buyer a commitment for an owner's title <br /> insurance policy insuring against defects in the merchantability of title up to <br /> the value of the purchase price set forth above. Title insurance shall show <br /> that there shall be no financing statements on file effecting fixtures included in <br /> the purchase. Title may be subject to coal and mineral rights if now reserved <br /> or conveyed of record and to all easements and building and use restrictions <br /> now of record which do not restrict reasonable use. Buyer shall promptly <br /> advise Seller of any claimed defects in title evidence to permit resolution <br /> before settlement. Seller shall pay the initial title search charge and title <br /> insurance premium. Buyer shall pay the search charge as to the Buyer, the <br /> cost of mortgagee's title insurance policy, if any, and the cost of all necessary <br /> endorsements to the title insurance policy. Buyer and Seller shall furnish <br /> immediately upon request all information legally required for financing or <br /> transfer of title. If no lender is involved, any fee for settlement of this contract <br /> shall be divided equally between Seller and Buyer. <br /> 4. Buyer shall pay Seller the balance of the purchase price at the office of <br /> Central Illinois Title Company on or upon mutual agreement before October <br /> 10, 2006, or demolition of the improvements has been completed by Seller, <br /> and approved by Buyer, whichever shall first occur, which event is called <br /> settlement. <br /> 5. At settlement, Seller shall deliver to Buyer a Warranty Deed to the <br /> premises, subject only to those matters to which the title may be subject as <br /> provided in paragraph 3 above, and conve ing the benefits or all easements <br /> � <br /> � i _ C�-� ���-�Gy� �-l(-OE <br /> �--�� � Z ob <br /> Seller's Initials Date Buyer's Initials Date <br />