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� <br /> . <br /> . � <br /> 0 P T I 0 N <br /> Wf�REP,.S, CITY OF DECAZUR, a Municipal corporation (hereinafter <br /> "City") and WOOD STREET PARTr�R.SHIP (hereinafter "Partnership") desire to <br /> enter into an Option Agreement for premises legally described as <br /> follows: <br /> Lot 'It�ro (2) , Except the East 74 feet and Except the <br /> South 11 feet of the West 50 feet of the East 124 <br /> feet, all of Lot 73�ree (3) , the North 62.3 feet of <br /> Lot Fbur (4) , the North 62.3 feet of the West 96 <br /> feet of Lot Five (5) , Except the East 25 feet of <br /> the South 50.3 feet tfrereof in William Martin's <br /> Addition of Outlots, as per Plat recorded in Book <br /> U, Page 748 of the Records in the Recorder's Office <br /> of Macon County, Illinois; consisting of two acres, <br /> more or less; and <br /> WEIEREAS, Partnership desires to purchase said premises and <br /> d�nolish the building located thereon; and <br /> Wf�RFAS, Partnership has disclosed to the City that Partnership <br /> will build a new building on said premises; and <br /> Wt�REAS, Partnership has further disclosed to the City that the <br /> new building shall be leased to the Illinois Department of Public Aid. <br /> N�T, Tfi�tEFORE, the parties hereto AQZEE AS FOLIAWS: City grants <br /> to Partnership an Option for sixty (60) days from the date hereof to <br /> purchase the above--described premises on the following terms: <br /> 1. The agreed purchase price is One Hundred 7housand Dollars <br /> ($100,000.00) . <br /> 2. Partnership will, upon the execution of this Option, give to <br /> City the sLun of Five Hundred Dollars ($500.00) and in the event the option <br /> is exercised, said $500.00 sh,all be applied to the purchase price; and in <br /> the event the option is not exercised, the City shall have the right to keep <br /> said $500.00 as agreed and liquidated damages. <br />