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� � <br /> .,�� y r <br /> REAL ESTATE PURCHASE CONTRACT <br /> 1. CITY OF DECATUR, ILLINOIS, an Illinois Municipal Corporation, as <br /> Seller, agrees to sell and ROMANO PARTNERSHIP, an Illinois general <br /> partnership, as Buyer, agrees to purchase at the price of Sixty-five Thousand <br /> One Dollars tS65,001.00) the following legally described real estate <br /> tpremises) situated in Macon County, Illinois, <br /> Lots 8 and 9 of South Addition, as per plat <br /> recorded in Boak G page 553 of the records <br /> in the Recorder' s Office of Macon County, <br /> Illinois. <br /> 2. Buyer shall pay Two Thousand Dollars tt2,000.00) as earnest money to <br /> be deposited in the Seller' s non-interest bearing escrow account no later than <br /> the next business day following acceptance of this contract. At settle�ent <br /> the Buyer shall be credited toward its p�rchase price with the earnest �oney <br /> paid to Seller. In the event of a default, either party shall have remedies <br /> available in law and equity. <br /> 3. Selier shall proa�ptly furnish to Buyer a cownitment for an owner' s <br /> title insurance policy insuring against defects in the eerchantability of <br /> title up to the value of the purchase price set forth above. Title insurance <br /> shall show that there shall be no financing state�ents on file affecting <br /> fixtures included in the purchase. Title Aay be subject to coal and mineral <br /> rights if now reserved or conveyed of record and to all ease�ents and building <br /> and use restrictions now of record which do not restrict reasonable use. <br /> Buyer shall pro�ptly advise Seller of any clai�ed defects in title evidence to <br /> per�it resolution before settle�ent. Seller shall pay the initial title <br /> search charge and title insurance preeius. Buyer shall pay the search charge <br /> as t� the Buyer, the cost of �ortgagee' s title insurance policy, if any, and <br /> the cost of all necessary endorse�ents to the titie insurance policy. Buyer <br /> and Seller shall furnish im�ediately upon request all infor�ation legally <br /> required for financing or transfer of title. If no lender is involved, any <br /> fee for settlement of this contract shall be divided equally between Seller <br /> and Buyer. <br /> 4. Buyer shall pay Seller the balance of the purchase price at the <br /> office of Central Illinois Title Co�epany on, or upon mutual agree�ent before, <br /> June 1, 1998, which event is called settleeent. <br /> 5. At settlenent, Seller shall deliver to Buyer a warranty deed to the <br /> preeises, subject only to those matters to which the title may be subject as <br /> provided in paragraph 3 above, and conveying the benefits of all easea�ents of <br /> record prior to the execution of this contract, if any, in such form and <br /> together with such docueentation as shall be required for recording said deed. <br /> Said warranty deed shall contain a reservation of ease�ent for walkway <br /> purposes for use by e�aployees of 5eller. Seller shall also furnish Buyer, at <br /> settlee�ent, all docu�entation necessary to protect Buyer fro� mechanic' s <br />