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R2000-256 AUTHORIZING LAND PURCHASE
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R2000-256 AUTHORIZING LAND PURCHASE
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Last modified
3/24/2016 2:22:02 PM
Creation date
3/24/2016 2:22:02 PM
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Resolution/Ordinance
Res Ord Num
R2000-256
Res Ord Title
AUTHORIZING LAND PURCHASE - OLDE TOWNE REDEVELOPMENT PROJECT AREA
Approved Date
12/4/2000
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�� • <br /> � � <br /> AGREEMENT <br /> 1. The Trustees of Trust B under the terms and provisions of the Last Will <br /> and Testament of Alfred Tick, deceased, Chicago Title Land Trust Company, 5uccessor <br /> to Chicago Title Company, as Successor Trustee to Citizens National Bank of Decatur, as <br /> Trustee under the provisions of a Trust Agreement dated October 31, 1988 and known as <br /> Trust Number 3663, and Trustees of Trust A under the terms and provisions of the Last <br /> Will and Testament of Alfred Tick, deceased, hereinafter referred to as Sellers, hereby <br /> sell and the City of Decatur, a Municipal Corporation, agrees to purchase the real estate <br /> described in Schedule A hereto attached, and the Buyer agrees to pay to the Sellers for <br /> said real estate the following sums, to-wit: to the Trustees of Trust B under the Will of <br /> Alfred Tick the sum of$220,000.00; to Chicago Title Land Trust Company, as Trustee of <br /> Trust Number 3663, the sum of$370,000.00; and Trustees of Trust A under the Will of <br /> Alfred Tick, deceased, the sum of$235,000.00. <br /> 2. The Sellers shall promptly furnish Buyer with a commitment for an owner's <br /> title insurance policy insuring against defects in merchantability of title in the value of the <br /> purchase price. Title evidence shall show that there are no financing statements on file <br /> affecting the premises. Title may be subject to mineral rights if reserved or conveyed of <br /> record and to all easements and building and use restrictions now of record which do not , <br /> restrict reasonable use. Buyer shall promptly advise the 5ellers of any claimed defects in II <br /> title evidence to permit a resolution of the same before closing. The Sellers shall pay the <br /> initial search charge and the title insurance premium charge, and Buyer shall pay the <br />
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