R2002-158 AUTHORIZING PURCHASE OF REAL PROPERTY

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:. y � � r REAL ESTATE PURCHASE CONTRACT 1. DECATUR MACON COUNTY SENIOR CENTER, INC., an Illinois Not-for-profit Corporation, as Seller, agrees to sell and CITY OF DECATUR, ILLINOIS, a municipal corporation, as Buyer, agrees to purchase at the price of Two Hundred Fifty Thousand Dollars ($250,000.00), ("purchase price"), the following legally described real estate ("premises") situated in Macon County, Illinois: Lot Four (4), and all of Lot Five (5) excepting a strip 8 inches in width off of the South side thereof; also part of Lot Three (3) described as follows: Beginning at the Northeast corner of Lot Three (3), thence West 99 feet and 4 inches to the center of the brick wall; thence South 7 feet and 6.3 inches to the center of the brick wall; thence West 14 feet and 8 inches to the center of the brick wall; thence South 12 feet and 5.7 inches to the South line of Lot Three (3); thence East along the South line of said Lot Three (3) 114 feet to the East line of said Lot; thence North along the East line of said Lot, twenty (20) feet to the place of beginning, all in the Resurvey of Snyder's Addition and Lots One (1), Two (2) and Three (3) in Block 2 of Central Addition to Decatur, as per Plat recorded in Book 149 Page 303 of the records in the Recorder's Office of Macon County, Illinois, commonly known as 355 North Water Street, Decatur, Illinois. The Tax ID number for the property is: 04-12-15-237-012. 2. Seller shall promptly furnish to Buyer a commitment for an owner's title insurance policy insuring against defects in the merchantability of title up to the value of the purchase price set forth above. Title insurance shall show that there shall be no financing statements on file affecting fixtures included in the purchase. Title may be subject to coal and mineral rights if now reserved or conveyed of record and to all easements and building and use restrictions now of record which do not restrict reasonable use. Buyer shall promptly advise Seller of any claimed defects in title evidence to permit resolution before settlement. Buyer shall pay any and all search charges, title insurance premium, and the cost of all necessary endorsements to the title insurance policy. Seller shall furnish immediately upon request all information legally required for financing or transfer of title. 3. Buyer shall pay Seller the purchase price and the relocation cost at the office of Central Illinois Title Company, 135 East Main Street, Decatur, Illinois, at settlement. Settlement shall be on a date to be determined by the parties, but not later than September 16, 2002. 1