R2006-94 APPROVING REDEVELOPMENT AGREEMENT WITH IP PLAZA LLC

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> . . , ,, , , �,� , � � � PG17 degrees 52 minutes 49 seconds East a distance of 17.00 feet to a point on the South right-of-way line of F.A. Route 49(U.S. Route 36);thence Southeasterly along said South right-of-way line on a bearing of South 81 degrees 21 minutes 22 seconds East a distance of 149.26 feet to a point;thence Southerly on a bearing of South 0 degrees 07 minutes 15 seconds East a distance of 126.31 feet to a point on the North right-of-way line of Maryland Street, thence Westerly along said North right-of-way line on a bearing of North 89 degrees 50 minutes 46 seconds West a distance of 99.40 feet to the place of beginning. Situated in Macon County,Illinois. Tract II: Commencing at a brass plate at the Southwest corner of said Section 21; thence Easterly along the South line of the Southwest Quarter of said Section 21 on a bearing of 89 degrees 50 minutes 46 seconds a distance of 216.30 feet to a point;thence Northerly on a bearing of North 0 degrees 09 minutes 14 seconds East a distance of 30.00 feet to a point on the North right-of-way line of Maryland Street,said point being the place of beginning; thence Northerly on a bearing of North 0 degrees 07 minutes 1� seconds West a distance of 126.31 feet to a point on the south right-of-way line of F.A. Route 49(U.S. Route 36);thence Southeasterly along the said South right-of-way line on a bearing of South 71 degrees 29 minutes 09 seconds East a distance of 375.84 feet to appoint said point being the intersection of the South right-of-way line of F.A. Route 49(U.S. Route 36)and the North right-of-way lien of Maryland Street;thence Westerly along said North right-of-way line on a bearing of North 89 deb ees 50 minutes 46 seconds West for a distance 409.19 feet to the place of beginning. Situated in Macon County,Illinois. 2005 EAV: $127,141 PHASE II Cohen Development Tract: " Part of the West Half of the Northwest Quarter of the Northwest Quarter of Section 28,Township 16 north, Range 3 East of the Third Principal Meridian,Macon County,Illinois,more particularly described as follows: Commencing at the Southwest corner of the Northwest Quarter of the Northwest Quarter of said Section 28,thence on a bearing of South 89 degrees 43 minutes 29 seconds East along the South line of the Northwest Quarter of the Northwest Quarter of said Section 28 a distance of 215 feet to the place of beginning of the tract to be described;thence South 89 degrees 43 minutes 29 seconds East along said South line of the Northwest Quarter of the Northwest Quarter of Section 28,446.04 feet to the Southeast corner of the West Half of the Northwest Quarter of the Northwest Quarter of said Section 28; thence on a bearing of North 0 degrees Ol minutes 52 seconds East along the East line of the West Half of the Northwest Quarter of the Northwest Quarter,of said Section 28, 715.45 feet to a point;thence on a bearing of North 89 degrees 55 minutes 02 seconds West,323.09 feet to a point;thence on a bearing of South 0 degrees 04 minutes 58 seconds West, 115.67 feet to a point;thence on a bearing of North 89 degrees 55 minutes 02 seconds West,272.30 feet to a point of intersection with the aforesaid Easter(y right-of-way line of S.B.I. Route 121; thence on a bearing of South 0 degrees 4 minutes 58 seconds West along said Easterly right-of-way line a distance of 447.78 feet;thence Easterly L 50 feet along the line parallel with the South line of the Northwest Quarter of the Northwest Quarter of said Section 28;thence Southerly 150 feet along the line parallei with the East right-of-way line of Route No.121 to the place of beginning. Situated in Macon County, Illinois. Now known as: Lot 1 of K-mart Plaza Addition as per Plat recorded in Book 1832 on Page 190 of the Records in the Recorder's Office of Macon County, Illinois. Situated in Macon County, Illinois. Main Street Bank Tract: Beginning at the intersection of the East right-of-way line of Route 12 l and the South line of the Northwest Quarter of the Northwest Quarter of Section 28,Township 16 North,Range 3 East of the 3`d P.M. in the County of Macon and State of Illinois,said point being 65.00 feet East of the Southwest corner thereof;thence Easterly 150.00 feet along the South line of the Northwest Quarter of the Northwest Quarter of Section 28 to a point; thence Northerly 150.00 feet along a line parallel with said East right-of-way line of Route No. 12l to a point;thence Westerly 150.00 feet along a line parallel with said South line of the Northwest Quarter of the Northwest Quarter of Section 28 to a point on said East right-of-way line; thence Southerly I50.00 feet along said right-of-way line to the place of Page 23 of 29