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REAL ESTATE PURCHASE CONTRACT I <br /> 1. CITY OF DECATUR, ILLINOIS, an Illinois Municipal Corporation, as I�, <br /> Seller, agrees to sell and ROMANO PARTNERSHIP, an Illinois general �I <br /> partnership� as Buyer, agrees to purchase at the price of Ninety-five Thousand <br /> One Dnllars ti95,001.00) the fullowing legally described real estate , <br /> (pre�ises) situated in Macon County, Illinois, , <br /> Lots 1 and 2 and the N 1/Z of Lot 3 of South Addition, <br /> as per plat recorded in Book G page 553 of the records <br /> in the Recorder' s Office of Macon County, Illinois. <br /> co��only known as: 202 South Franklin Street <br /> Decatur, Illinois. <br /> 2. Buyer shall pay Three Thousand Dollars (s3,000.00) as earnest �oney <br /> to be deposited in the Seller' s non-interest bearing escrow account no later <br /> than the next business day following acceptance of this cnntract. At <br /> settle�ent the Buyer shall be credited toward its purchase price with the <br /> earnest �oney paid to Seller. In the event of a default, either party shall <br /> have re�edies available in law and equity. <br /> 3. Seller shall pro�ptiy furnish to Buyer a co�sitment for an owner' s <br /> title insurance pnlicy insuring against defects in the ■erchantability 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 stateeents on file affecting <br /> fixtures included in the purchase. Title �ay be subject to coal and �ineral <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 pre�iuw. Buyer shali pay the search charge <br /> as to the Buyer, the cost of �nrtgagee' s title insurance policy, if any, and <br /> the cost of all necessary endorse�ents to the title insurance policy. Buyer <br /> and Seller shali furnish is�ediately upon request all information legally <br /> required for financing or transfer of title. If no lender is involved, any <br /> fee for settle�ent 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�pany on, or uPon �utual agree�ent before, <br /> January 11, 1998, which event is called settle�ent. <br /> 5. At settle�ent, Seller shall deliver to Buyer a warranty deed to the <br /> pre�ises, subject only to those �atters to which the titie �ay be subject as <br /> provided in paragraph 3 above, and conveying the benefits of all easeAents of <br />