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2nd Addition as per Plat recorded in Book 50 page 371 of the Records in <br /> the Recorder's Office of Macon County Illinois more particularly described <br /> on Exhibit B, attached hereto. <br /> (7) Buyer shall provide Seller with proof of adequate project financing in the <br /> form of verification from a financial institution, letter of credit, bond payable <br /> to the City of Decatur, or other means of verification, as mutually agreed <br /> upon by Buyer and Seller. <br /> (8) The foregoing conditions shall be completed to Seller's satisfaction no <br /> later than the end of the ninth month following the effective date of this <br /> Contract. If all of the foregoing conditions are not satisfied to Seller's <br /> satisfaction on or before the end of the ninth month following the effective <br /> date of this Contract, then Buyer shall be in default. As used herein, <br /> "effective date" shall mean the date the Contract is last executed by a <br /> party. If Seller terminates this contract for Buyer's default, Buyer shall <br /> convey title to the premises back to Seller, with Buyer paying all costs <br /> associated with the transfer, including real estate taxes and special <br /> assessments due and unpaid from the date of closing (Seller to Buyer) to <br /> the date of recording of the deed from Buyer to the City of Decatur, based <br /> upon the most recent property tax bill for the Property. Buyer shall also <br /> pay any costs associated with remediating any changes or improvements <br /> made to the premises by Buyer, its successors and assigns, as deemed <br /> necessary in the sole discretion of the Seller. <br /> (9) In the event the construction described herein is not substantially <br /> completed within one year of the date of closing, Buyer shall be in default. <br /> (10) Buyer shall execute a quitclaim deed which shall be delivered to Seller at <br /> closing, conveying Buyer's interest in the Property in fee simple back to <br /> the City of Decatur. Said deed shall only be recorded in the event of <br /> Buyer's default, and only following reasonable notice and failure to cure, <br /> as provided in the default paragraph of this Contract. If Buyer defaults <br /> and fails to cure, Buyer shall be responsible for and pay any and all costs <br /> associated with the transfer, including real estate taxes due and unpaid <br /> 3 <br /> Page 20 of 180 <br />