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. � , � <br /> � REAL ESTATE PURCHASE OPTION <br /> This Real Estate Purchase Option ("Option") is made this 22nd day of February, 1995, by and <br /> between Community Investment Corporation of Decatur, Inc. (CICD), an Illinois not-for-profit <br /> corporation ("Buyer") and Edward E. Beasley, ("Seller") and is subject to the following terms <br /> and conditions: <br /> 1. OPTION TO PURCHASE: Seller, in consideration of$500.00 ("Deposit") paid by <br /> Buyer, the receipt and sufficiency of which is hereby acknowledged, hereby grants Buyer the <br /> exclusive option to purchase the following described real estate: <br /> E 18' W 36' & E 1 1/2' S 21' W 18' of Lot Blk 9 & E 18' W 36' of <br /> Central Add Lot 13 Blk 1. Town of Decatur. <br /> A complete Legal Description is attached as Exhibit A. <br /> COMMONLY KNOWN AS: 138 East Prairie <br /> 2. PURCHASE PRICE. The purchase price for the real estate shall be 1'�-IIRTY <br /> EIGHT THOUSAND DOLLARS ($38,000) which shall be paid at the time of closing of the <br /> purchase of the real estate. <br /> 3. DURATION AND EXERCISE OF OPTION. This Option shall remain in effect and <br /> be subject to Buyer's exercise until Midnight October 15, 1995 ("Expiration Date"). This <br /> Option shall be exercised if and when Buyer mails written notice to Seller of such exercise on <br /> or before the Expiration Date. Upon exercise, this Option shall constitute a contract of sale of <br /> the real estate on the terms and conditions set forth herein. In the event that this Option is not <br /> exercised, the Deposit shall be retained by Seller. <br /> If this Option is exercised and Buyer subsequendy fails to purchase the Premises, for any <br /> 1 <br />