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, � <br /> � , , � , <br /> � ' . <br /> 5029 <br /> 4/2/03 <br /> DEVELOPMENT AGREEMENT <br /> This velopment Agreement ("Agreement") is made and entered into this <br /> 1 / <br /> � day of ���( 2003 by and between the CITY Of DECATUR, an <br /> Illinois municipal corporation ("Owner"), and BLACKSTONE GROUP, an Illinois general <br /> partnership ("Developer"). <br /> Reference is made to the following: <br /> A. Owner has entered into an agreement to purchase certain real estate <br /> in Macon County, Illinois, which is more particularly described in the attached Exhibit A <br /> (the "Shopping Center Tract"); <br /> B. Owner has also entered into a Purchase Agreement dated February <br /> 17, 2003 and March 3, 2003 with Target Corporation (the "Target Purchase <br /> „ ,. „ <br /> A eement to sell to Tar et Cor oration Tar et a ortion of the Shopping Center <br /> �' ) g p � g ) p <br /> Tract (the "Target Tract"); <br /> C. Owner desires to employ Developer to develop the portion of the <br /> Shopping Center Tract exclusive of the Target Tract (the "Developer Tract") in <br /> accordance with the terms of this Agreement. <br /> Article 1 <br /> Employment of Developer <br /> Subject to the terms and conditions in this Agreement, Owner hereby <br /> employs Developer to develop the Developer Tract so that the Developer Tract is <br /> developed in a quality manner. Developer agrees to make available to Owner the full <br /> benefit of its experience and judgment in the development of the Developer Tract. <br />