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resolution before closing. The Authority now has in effect a title <br /> insurance policy insuring the Authority issued by Chicago Title <br /> Insurance Company dated June 16, 1983, and given No. 14-122-04- <br /> 16651 (Macon #35459 ) . <br /> 2 . Closinq. The closing ( "closing" or "date of closing" ) <br /> shall take place on or before March 16, 1998 at 10 : 00 A.M. , local <br /> , time, at the office of the corporation counsel to the City of <br /> Decatur, One Gary K. Anderson Plaza, Decatur, Illinois, or at such <br /> other time and place prior to March 16, 1998 as is mutually agreed <br /> upon. <br /> 3 . Procedure at ClosinQ. <br /> (a) At the closing, the Authority shall deliver to the City <br /> the Deed in the form as attached hereto as Exhibit B upon payment <br /> of the full purchase price stated in paragraph 1 above. <br /> (b) There are no real estate taxes assessed against the real <br /> estate. There is no real estate transfer tax assessed against the <br /> transfer described herein (35 ILCS 200/31-45(b) ) . <br /> 4 . Possession. The possession of the real estate shall be <br /> delivered by the Authority to the City no later than August 24, <br /> 1998 . If possible, earlier delivery of possession will be made by <br /> the Authority to the City upon completion of the construction of a <br /> storage facility by the Authority. All non-fixture tangible <br /> personal property located on the real estate will be removed by the <br /> Authority prior to delivery of possession of the real estate to the <br /> City. <br /> 5 . Condition of Premises . The Authority is transferring and <br /> conveying the premises to the City in an "AS IS" condition. The <br /> City understands that the Authority makes no warranty as to the <br /> -5- <br />