R2016-20 AUTHORIZING REAL ESTATE CONTRACT Wabash Redevelopment Area

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CONTRACT OF SALE THIS CONTRACT OF SALE ("Contract") by and between the CITY OF DECATUR, an Illinois municipal corporation ("Seller"), and the NORTHEAST COMMUNITY FUND, a not-for- profit Corporation in good standing currently located at 825 N. Water St., DECATUR, ILLINOIS ("Buyer"), WITNESSETH: Seller agrees to sell, and Buyer agrees to purchase on the terms and conditions hereinafter set forth, the unimproved real estate situated in Macon County, Illinois, described on Exhibit A attached hereto and incorporated herein (the "Property"). 1. Purchase Price. The purchase price for the Property is Six Hundred Fifty ($650.00) Dollars, and other good and valuable consideration. Buyer shall pay to Seller at closing Six Hundred Fifty Dollars ($650.00) Dollars, less closing adjustments. 2. No Representations. Seller makes no representations, warranties or guarantees of any kind concerning the property, its condition, or its suitability for Buyer's proposed use, whether express or implied, oral or written. Buyer acknowledges the Property is purchased "as is", subject to all patent and latent faults and defects, whether discovered or not, with no representations from Seller, and based solely on Buyer's inspection, testing, and investigation of the Property. Buyer accepts title to the property "as is". Buyer acknowledges Seller makes no representations regarding the condition of title to the property. Buyer bears sole responsibility for the condition of title to the property. Buyer represents that prior to entering this Contract of Sale, it has fully informed itself as to the condition of title to the property, and accepts title, including discovered and undiscovered defects or clouds, fully without exception, and without recourse against Seller. Buyer fully waives, relinquishes, and releases any and all claim or claims against Seller related to defects or clouds upon title, whether discovered or not. 1 Page 18 of 180