R2016-65 AUTHORIZING ACCEPTANCE OF DEED & TRANSFER OF PROPERTY - 825 N. Lowber

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RESOLUTION NO. R2016- 65 RESOLUTION AUTHORIZING ACCEPTANCE OF DEED IN LIEU OF FORECLOSURE AND SUBSEQUENT TRANSFER OF PROPERTY -LOCATED AT 825 NORTH LOWBER STREET,DECATUR, ILLINOIS- BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF DECATUR, ILLINOIS: Section 1. That the Transfer to the City of Decatur of property located at 825 North Lowber Street, Decatur, Illinois, by way of a Deed in Lieu of Foreclosure and Estoppel Affidavit be, and the same is hereby approved, subject to the parties mutually resolving any and all title, environmental, and other related issues. Section 2. That the Transfer by the City of Decatur to Black Acre of Decatur, LLC, by way of Quit Claim Deed be, and the same is hereby approved. Section 3. That the Mayor and City Clerk be, and they are hereby, authorized and directed to sign and execute any Agreement necessary to effectuate the Transfer of the property located at 825 North Lowber Street, Decatur, Illinois, on behalf of the City of Decatur and furthermore, that the City Manager be, and he is hereby, further authorized to cause to be done that which may appear to be appropriate to cause said real estate transfer to be effectuated on behalf of the City. PRESENTED AND ADOPTED this 6th day of June, 2016. � JULIE MOO E WOLFE, M OR ATTEST: CITY CLERK