R2016-20 AUTHORIZING REAL ESTATE CONTRACT Wabash Redevelopment Area

Home Browse Search

Buyer acknowledges that the provisions of this Paragraph 2 are an integral component of this Contract, and that Seller would not agree to sell the Property to Buyer for the purchase price without the provisions of this Paragraph 2, and further acknowledges that the provisions of this Paragraph 2 shall survive the sale of the Property. 3. Conditions Precedent. A. Seller's obligations under this Contract are subject to the following conditions: (1) Buyer shall promptly commence construction of a structure to be operated by a not-for-profit corporation and used exclusively for providing a free food pantry, clothing and prescription assistance, household furnishings, financial counseling, and associated services serving at least 51% low-to- moderate income residents as defined by the U.S. Department of Housing I and Urban Development, or similar not-for-profit uses agreed upon in �'� writing by Seller; and (2) Buyer shall submit a project pro forma for construction and future operation of the structure to be constructed, subject to Seller's review and approval; and (3) Buyer shall submit to Seller all required building plans, site plans, landscape, and lighting plans for said structure, which shall be prepared and sealed by an Illinois licensed and registered Professional Engineer and/or licensed architect, if required; and (4) Said plans shall meet requirements of the City of Decatur codes and ordinances, and shall meet or exceed all applicable building and zoning requirements; and (5) Buyer shall obtain all required approvals and permits from all governmental authorities having jurisdiction over the Property and which may be necessary to permit Buyer's proposed development of the Property; and (6) Buyer shall maintain all utility easements within, or relocate all utilities from, a part of the 16 foot alley located in Block 2 of Durfee Warren & Co's 2 Page 19 of 180