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. Decatur—O6G0023 c8-final <br /> , 10/19/O5,10/20/O5,10/21/O5, 10/24/05,l l/11/O5, 12/20/O5, 1/31/Ob;3/1/06 <br /> AGREEMENT OF PURCHASE AND SALE <br /> BY THIS AGREEMENT, GMRI, Inc., a Florida corporation (Buyer), agrees to purchase and the City of <br /> Decatur, Illinois(Seller), agrees to sell the Property defined below. <br /> 1. Definitions.Defined terms in this Agreement are as follows. <br /> Agreement: This Agreement of Purchase and Sale including any addenda, amendments, exhibits and <br /> riders attached or to be attached hereto and/or made a part hereof. <br /> Brokers: Blackstone Group(Joe Hurwitz, agent)and Staubach Retail Services(Ken Galvin, agent). <br /> Center: The property described on Exhibit"A-5", shown on Exhibit"A-6", and commonly known as <br /> Mound Center. <br /> Closing: Consummation of this transaction through Escrow Agent evidenced by recording the Deed. <br /> Contemplated Use: Construction and operation on the Property of a restaurant, shown by Buyer's <br /> architectural plans, with off-street parking, alcohol. (This definition is not a restriction. It may not be used to <br /> defeat other possible uses.) <br /> Deed: Special warranty deed in form pre-approved by Buyer,by which Seller conveys to Buyer <br /> indefeasible,marketable and insurable fee simple title to the Property, subject to Permitted Exceptions. <br /> Deposit: $10,000.00 initially deposited by Buyer with Escrow Agent and invested pursuant to the terms of <br /> this Agreement, ,plus interest earned on the account. <br /> Due Diligence Period: Buyer's investigation,permitting and study period,commencing on the later of the <br /> Effective Date or satisfactory completion of Seller's Initial Work and lasting 120 days,plus extensions permitted <br /> under Section 4.b. <br /> Easements: All easements,rights-of-way,privileges, and appurtenances belonging or in anywise <br /> appertaining to the Property. <br /> Effective Date: Date of full and unconditional execution and delivery of this Agreement,both parties <br /> having signed the document and initialed all changes. <br /> Escrow Agent: The Title Company or other closing agent approved by Buyer and Seller. <br /> Hazardous Substance:Any oil,petroleum or chemical liquid or solid,liquid or gaseous product, <br /> hazardous waste or hazardous substance,as those terms are used by applicable law, code or ordinance,including <br /> but not limited to the Comprehensive Environmental Response,Compensation and Liability Act of 1980, as <br /> amended. <br /> Notice Address: <br /> For Buyer— <br /> GMRI,Inc. <br /> 6990 Lake Ellenor Drive <br /> Orlando,FL 32809 <br /> ATTN: Barbara Thompson <br /> Fax#407-245-6415 <br /> Phone# 407-245-6039; <br /> 1 <br />