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Resolution 2017-08 Resolution No. 2017- 09 A RESOLUTION OF THE UNITED CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS,APPROVING A REAL ESTATE CONTRACT FOR THE PURCHASE OF REAL ESTATE LOCATED AT 609 N. BRIDGE STREET WHEREAS, the United City of Yorkville, Kendall County, Illinois (the "City") is a duly organized and validly existing non home-rule municipality created in accordance with the Constitution of the State of Illinois of 1970 and the laws of this State; and, WHEREAS, the City is authorized to purchase real estate for public purposes pursuant to Section 11-61-3 of the Illinois Municipal Code, 65 ILCS 5/11-61-3. WHEREAS, the City desires to purchase certain real property commonly known as 609 N. Bridge Street, Yorkville, Illinois 60560 (the "Subject Property"), as legally described on Exhibit A hereto; and, WHEREAS, the current owner is willing to sell the Subject Property to the City for the sale price of$160,000.00; and, WHEREAS, the Mayor and City Council of the City have determined that it is in the best interests of the City and its citizens to purchase the Subject Property for the above stated sale price. NOW, THEREFORE,BE IT RESOLVED,by the Mayor and City Council of the United City of Yorkville, Kendall County, Illinois, as follows: Section 1. That the Multi-Board Residential Real Estate Contract 6.1 attached hereto as Exhibit B and made a part hereof, is hereby approved and the Mayor and City Clerk are hereby authorized to execute and deliver and to undertake any and all action as may be required to implement the terms of said Contract on behalf of the United City of Yorkville. Section 3. This Resolution shall be in full force and effect from and after its passage and approval as provided by law. Passed by the City Council of the United City of Yorkville, Kendall County, Illinois this r, vday of ,�j , 2017. CITY CEEkk Resolution No.2017-00 Page 1 CARLO COLOSIMO (,l,1/0 KEN KOCH aye JACKIE MILSCHEWSKI JOEL FRIEDERS CHRIS FUNKHOUSER DIANE TEELING � SEAVER TARULIS me Approved by me, as Mayor of the United City of Yorkville, Kendall County, Illinois, this 020* day of J A4 VAAY , 2017. '4u,"Ilz7A MAYOR Attest: City Clerk Resolution No.2017- 08 Page 2 EXHI IT"A" THAT PART OF LOTS 1, 2 AND 3 IN BLOCK 2 OF GALE'S SECOND ADDITION TO THE VILLAGE OF BRISTOL AND PART OF VACATED PAR BEET LYING NORTHERLY OF AND ADJOINING SAID LOTS 1 AND 2,ALL CRIBED AS FOLLOWS COMMENCING AT THE SOUTHEAST CORN 7 IN SAID BLOCK 2,THENCE NORTHERLY ALONG THE EA E I LOT 7,INE OF SAID L©0 FEET,THENCE WESTERLY PARALLEL WITH TH WESTERLY BLOCK 2, 12 FEET, 7, 80 FEET TO THE WESTERLY LINE OF SAID L PARALLEL WITH THE NORTHERLY LINE QF L TELINE OF SAID LOTS THENCE NORTHERLY PARALLEL WIT F NCE CONTINUING AND 3, 96 FEET FOR THE POINT OF ET T©ALINE DRAWN NORTHERLY ALONG SAID PARA I F,FEE MEASURED ALONG THE PARALLEL WITH AND 99 fib FEET EASTERLY LINE OF SAID LOT 3 A D TERLY LINE EXTENDED NORTHERLY, THE SOUTHER LOCK 3 IN SAID GALE'S SECOND ADDITION,THENCE CONTIN II+jG1@,0 ERLY ALONG SAID PAREALLLEL LINE 99 66 FEET TO THE SOU T i.1WV OF SAID BLOCK 3, LY ALONG SAID SOOTHE I FEET MORE OR LESS TO THE EASTERLY LINE OF SAID B K G SOUTHERLY ALONG SAID EASTERLY LINE EXTENDED AND STERLY LINE OF SAID BLOCK 2, 175 5 FEET TO A LINE DEA A L L ITH THE NORTH UNE OF LOTS 6.7 AND 8 IN SAID BLOCK 2, FRE T TO THE PO NT O NING,THENCE NT OF BEGIN EGINN NGS N TRHE CITY OF LY ALONG SAID PARALLEL LINE, YORKVILLE, KEN D L COUNTY, ILLINOIS, EXCEPT THAT PART OF LOT 1 IN BLOCK 2 OF GALE'S SECOND ADDITION TO THE VILLAGE OF BRISTOL IN THE UNITED CITY OF THE VILLAGE OF YORKVILLE. IN KENDALL COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS,AND BEARINGS USE HEREIN ARE REFERENCED TO AN ASSUMED DATUM COMMENCING AT THE SOUTHEAST CORNER OF SAID BLOCK 2, THENCE NORTH 0 DEGREES 25 MINUTES 52 SECONDS WEST 246 05 FEET ALONG THE EAST LINE OF SAID BLOCK 2 TO THE SOUTH LINE OF THE PROPERTY DESCRIBED IN A WARRANTY DEED RECORDED AS DOCUMENT NUMBER 77- 3054 IN THE RECORDER'S OFFICE OF KENDALL COUNTY, ILLINOIS AND TO THE POINT OF BEGINNING,THENCE SOUTH 87 DEGREES 31 MINUTES 25 SECONDS WEST 7 07 FEET ALONG SAID SOUTH LINE,THENCE NORTH 3 DEGREES 27 MINUTES 58O TH 0 DEGREES 254MINUTES 1 FEET 5 SECONDS EASTHE EAST LINET 103 51O FEET T0BLOCK 2 THENCE SOUTH 0 O THE POINT OF BEGINNING,CONTAINING 366 SQUARE FEET,MORE OR LESS SITUATED IN THE COUNTY OF KENDALL, ILLINOIS, FURTHER EXCEPTIONG THEREFROM THE PROPERTY AS SET FORTH IN THE DEED TO THE ILLINOIS DEPARTMENT 20110000829 9.SSAID PROPERTY BEING MORE NSPORTATION RECORDED�Y 20,2011,AS DOCUMENT PROPERLY DESCRIBED AS FOLLOWS PART OF LOT 1 AN BCK 2 IN GALE'S SECOND ADDITION TO THE VILLAGE T OF BRISTOL AND PARTF VACATED PARK STREET LYING NORT ERLY OF AND 20160004649 315 ADJOINING SAID LOT 1, IN THE CITY OF YORKVILLE, KENDALL COUNTY. ILLINOIS, DESCRIBED AS FOLLOWS WITH THE BEARINGS BASED ON ILLINOIS STATE PLANE COORDINATE SYSTEM NAD 1983-EAST ZONE COMMENCING AT THE SOUTHWEST CORNER OF LOT 3 ORTH BRIDGE STREET SUBDIVISION, IN YORKVILLE, THENCE SOUTH 85 REES 55 MINUTES 50 SECONDS EAST 40 740 METERS 1133 66 F ING,THENCE LINE OF SAID VACATED PARK HE NORTH STREET TO THE N ST 4 998 CONTINUING SOUTH 85 DEGREES 55 MINUTES ATED PARK METERS 116 40 FEET)ALONG THE NORTH LIN STREET TO THE WESTERLY EXISTING GH T E FOR FAP 326 (IL 47), THENCE SOUTH 05 DEGREES 07 MIN S S WEST 21 921 METERS [71 92 FEET]ALONG SAID WESTER I T OF WAY LINE,THENCE SOUTH 10 DEGREES 01 MINUTE E EST 31 702 METERS(1 D4 00 FEET)ALONG SAID WESTERLY E OF WAY LINE, THENCE NORTH B5 DEGREES 45 MINUTES 27 SEC 6 811 METERS 122 35 FEET), THENCE NORTH 06 DEGREE 34 SECONDS EAST 19 724 METERS (64 71 FEET),THENCE NORT 0 REES 53 MINUTES 39 SECONDS EAST 10 770 METERS[35 33 F _NORTH 06 DEGREES 05 MINUTES 34 SECONDS EAST 23 86 31 FEET)TO THE POINT OF BEGINNING. CONTAINING 33 S M RS,MORE OR LESS(CONTAINING 3,563 , SQUARE FEE), M L S), SITUATED IN THE UNITED CITY OF YORKViLLE, COUNTY D Y VIRTUE OF ILLINOIS, RELEASING ALL RIGHTT THE HOMESTEAD EXEMPTION LAWS OF U - THE STATE OF It i I 201600004649 4/5 arsiroa MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 6.1 1 11. THE PARTIES: Buyer and Seller are hereinafter referred to as the "Parties", 2 Buyer Name(s) [please print] United City of Yorkville 3 Seller Name(s) [please printl Judith L.Burks as Trustee of the Judith L.Burks Declaration of Living Trust 4 If Dual Agency Applies, Complete Optional Paragraph 31. 5 Z THE REAL ESTATE: Real Estate shall be defined as the property, all improvements, the fixtures and Personal 6 Property included therein. Seller agrees to convey to Buyer or to Buyer's designated grantee, the Real Estate 7 with approximate lot size or acreage of commonly known as: 8 609 N, Bridge Street Yorkville Illinois 60560 9 Address City State Zip lo - Kendall 02-26-351-016 11 County Unit;(if applicable) Permanent Index Number(s)of Real Estate 12 If Conclo/Coop/Townhome Parking is Included: #of spaces(s) identified as Space(s)# 13 [check typelodeeded space, PIN: Dimited common elementF ]assigned space. 14 3. PURCHASE PRICE: The Purchase Price shall be$ 160,000.00 After the payment of 15 Earnest Monev as provided below, the balance of the Purchase Price, as adjusted by prorations, shall be paid at 16 Closing in "Good Funds" as defined by law. 17 4. EARNEST MONEY: Earnest Mone, shall be held in trust for the mutual benefit of the Parties by(check one): 18 Weller's Brokerage;auyers Brokerage;DAs otherwise agreed by the Parties,as "Escrowee". 19 Initial Earnest Money of$ 1.000.00 shall be tendered to Escrowee on or before 7 day(s) after Date 20 of Acceptance. 21 5. FIXTURES AND PERSONAL PROPERTY AT NO ADDITIONAL COST: All of the fixtures and included Personal 22 Property are owned by Seller and to Seller's knowledge are in operating condition on the Date of Acceptance, 23 unless otherwise stated herein. Seller agrees to transfer to Buyer all fixtures, all heating, electrical, plumbing, 24 and well systems together with the following items of Personal Property at no additional cost by Bill of Sale at 25 Closing[Check or enumerate applicable items]: 26 r_-Vefrigeratur entral Air Conditioning entral Humidifier ight Fixtures,as they exist 27 veniRange/Stove Window Air Conditioner(s) iter Softener(owned) uilt-in or attached shelving 28 icrowave eiling Fan(s) UMP Pumps) Winclow,Treatmerits&Hardware 29 ish washer niercom System iectronic or Media Air Filter(s) xisting Storms and Screens 30 arbagv Disposal ackup Generator System entral Vac& Equipment ireplace Screens/Doors/Grates 31 rash Compactor atellite Dish -curitv System(s)(owned) ireplace Gas Log(s) 32 rasher utdoor Shed arage Door Opener(s) visible Fence System,Collar&box with nn 33 rVer lanted Vegetation th all Transmitters ole Detectors t i 34 Itaclied Gas Grill litcloor Nay Sells) 0A11 Tacked Down Carpeting aTbon Monoxide Detectors 35 Other Items Included at No Additional Cost: 36 37 Items Not Included: 38 39 Ftis 7on �� 40 o 41 42 43 Breyer hlitialhh Blil/cr Initial Seller blit Sellar Initial /IddresS.- Page 1 of 13 44 6. CLOSING: Closing shall be on g 20 17 -- or at such time as mutually, agreed by the 45 Parties in writing.Closing shall take place at the escrow office of the title company (or its issuing agent)that will 46 issue the Owner's Policy of Title Insurance,situated nearest the Real Estate or as shall be agreed mutually by the Parties. 47 7. POSSESSION: Unless otherwise provided in Paragraph 40, Seller shall deliver possession to Buyer at Closing, 48 Possession shall be deemed to have been delivered when Seller has vacated the Real Estate and delivered keys 49 to the Real Estate to Buver or to the office of the Seller's Brokerage. 50 &,MORTGAGE CONTINGENCY: If this transaction is NOT CONTINGENT ON FINANCING, Optional Paragraph 51 Paragatik3kb)MUST HE USED.If any portion of Paragmph36 is used,the provisions of this Paragraph 8 F P'AT CABLE 52 This Contract is conking er obtaining a Icheck one]Elfixed;Elad' e; check onefloonventional, 53 ❑FHANA(if FHA/VA is chosen, complete ar er loan for % 54 of the Purchase Price, plus private mort ance (PMI), if re ix with an interest rate (initial rate if an 55 adjustable rate mortgage Li- to exceed %per annum, amorti7z-�I�r not less than years. 56Buyer shall pa origination fee and/or discount points not to exceed % of th—e-tosa-amount. Buyer 57 shat usual and customary processing fees and closing costs charged by lender. (Complete Para—gr—ar�f 58 -1dosing cost credits apply). 59 yer shall make written loan application within five (5) Business Days after the Date of Acceptance; failure 60 do- S,hall constitute an act of Default under this Contract.[Complete both a) and NJ: 61 a) No ater than 20— (if no date is inserted, the date shall be twenty-one (2 ays after 62 the Da of Acceptance) Buyer shall provide written evidence from Buyer's licensed I ing institution 63 confirmin that Buyer has provided to such lending institution an "Intent to Procee " s that term is defined 64 in the rules the Consumer Financial Protection Bureau and has paid all le er application and appraisal 65 fees. If Buyer unable to provide such written evidence, Seller shall ave the option of declaring this 66 Contract terminat by giving Notice to the other Party not later th two (2) Business Days after the date 67 specified herein or a extension date agreed to by the Parties inti iting. 68 b) Not later than 20_ (if no date is inse d, the date shall be sixty (60) days after the 69 Date of Acceptance) Buy shall provide written e ence from Buyer's licensed lending institution 70 confirming that Buyer has recei d a ivritten mor ge commitment for the loan referred to above. If Buver 71 is unable to provide such written vidence i er Buyer or Seller shall have the option of declaring this 72 Contract terminated by giving Notice the other Party not later than hvo (2) Business Days after the date 73 specified herein or any extension d agree by the Parties in writing. 74 A Part), causing delay in the n approval pro s shall not have the right to terminate under either of the 75 preceding paragraphs. I e event neither Party e is to declare this Contract terminated as of the latter of 76 the dates specified ove (as may be amended from t e to time), then this Contract shall continue in full 77 force and effect thout any loan contingencies. 78 Unless othe ise provided in Paragraph 32, this Contract all not be contingent upon the sale and/or 79 closing q uyer's existing real estate. Buyer shall be deemed to ve satisfied the financing conditions of this 80 para ph if Buver obtains a loan commitment in accordance with th terms of this paragraph even though the 81 I an is conditioned on the sale and/or closing of Buyer's existing real est*. 82 9. STATUTORY DISCLOSURES: If applicable, prior to signing this Contract, Buver: 83 [check onejilhas 7has not received a completed Illinois Residential Real Property Disclosure; 84 [check one)[WhasFjhas not received the EPA Pamphlet, "Protect Your Fami]N, From Lead In Your Home"; 85 Icheck onelFE-1has ❑has not received a I ead-Based Paint Disclosure; 86 [check onelQhas 7has not received the IENIA, "Radon Testing Guidelines for Real Estate Transactions", Plill/Cr Initial Buyer Initial Seller lmtfidSeller Initial > �{� — Address. -P6.1 Paxt,2 of 13 87 [check one)Khas ❑has not received the Disclosure of Information on Radon Hazards. 88 10. PRORATION& Proratable items shall include without limitation, rents and deposits (if any) from tenants; 89 Specl utilities, water and sewer; and 90 91 r 92 93 ap 94 Selle 95 96 The general Real Estate taxes 97 shall be paid in full by the Buyer. 98 a as 99 100 101 f 102 this Paidgmaph 103 11. ATTORNEY REVIEW: Within five (5) Business Days after Date of Acceptance, the attorneys for the respective 104 Parties,by Notice, may: 105 a) Approve this Contract; or 106 b) Disapprove this Contract, which disapproval shall not be based solely upon the Purchase Price;or 107 c) Propose modifications except for the Purchase Price. if within ten (10) Business Days after the Date of 108 Acceptance written agreement is not reached by the Parties with respect to resolution of the proposed 109 modifications, then either Party may terminate this Contract by serving Notice, whereupon this Contract 110 shall be null and void;or 111 d) Propose suggested changes to this Contract. if such suggestions are not agreed upon, neither Party may 112 declare this Contract null and void and this Contract shall remain in full force and effect. 113 Unless otherwise specified, all Notices shall be deemed made pursuant to Paragraph 11 c). If Notice is not 114 served within the time specified herein, the provisions of this paragraph shall be deemed waived by the 115 Parties and this Contract shall remain in full force and effect. 116 12. PROFESSIONAL INSPECTIONS AND INSPECTION NOTICES: Buyer may conduct at Buyer's expense (unless 117 otherwise provided by governmental regulations) any or all of the following inspections of the Real Estate by 118 one or more licensed or certified inspection services: home, radon,environmental, lead-based paint, lead-based 119 paint hazards or wood-destroving insect infestation. 120 a) Buyer agrees that minor repairs and routine maintenance items of the Real Estate do not constitute defects 121 and are not a part of this contingency. The fact that a functioning major component may be at the end of 122 its useful life shall not render such component defective for purposes of this paragraph. Buyer shall 123 indemnify Seller and hold Seller harmless from and against any loss or damage caused by the acts of 124 negligence of Buyer or any person performing any inspection. The home inspection shall cover only the 125 major components of the Real Estate, including but not limited to central heating systern(s), central cooling 126 system(s), plumbing and well system, electrical system, roof, Nvalls, windows, doors, ceilings, floors, 127 appliances and foundation. A major component shall be deemed to be in operating condition if it performs 128 the function for Nvhich it is intended, regardless of age, and does not constitute a threat to health or safety. If 129 radon mitigation is performed, Seller shall pay for anv retest. Bnteer Initial f3irijer 17ri#ir! Seller Ir;itia�l�U Seller lrrrtitrl Address �ri9 •�,r$t ,�T. �i�. , t - :�6.1 Page 3 of 13 I 130 b) Buyer shall serve Notice upon Seller or Seller's attorney of any defects disclosed by any inspection for which 131 Buyer requests resolution by Seller, together with a copy of the pertinent pages of the inspection reports 132 within five (5) Business Days (ten (10) calendar days for a lead-based paint Or lead-based paint hazard 133 inspection) after the Date of Acceptance. If within ten (10) Business Days after the Date of Acceptance 134 written agreement is not reached by the Parties with respect to resolution of all inspection issues, then either 135 Party may terminate this Contract by serving Notice to the other Party, whereupon this Contract shall be 136 null and void. 137 c) Notwithstanding anything to the contrary set forth above in this paragraph, in the event the inspection 138 reveals that the condition of the Real Estate is unacceptable to Buyer and Buyer serves Notice to Seller 139 within five (5) Business Days after the Date of Acceptance, this Contract shall be null and void. Said Notice 140 shall not include any portion of the inspection reports unless requested by Seller. 141 d) Failure of Buyer to conduct said inspection(s) and notify Seller within the time specified operates as a 142 waiver of Buyer's rights to terminate this Contract under this Paragraph 12 and this Contract shall remain 143 in full force and effect. 144 13. HOMEOWNER INSURANCE: This Contract is contingent upon Buyer obtaining evidence of insurability for an 145 Insurance Service Organization HO-3 or equivalent policy at standard premium rates within ten (10) Business 146 Days after the Date of Acceptance. If Buyer is unable to obtain evidence of insurability and serves Notice 147 with proof of same to Seller within time specified, this Contract shall be null and void. If Notice is not 148 served within the time specified, Buyer shall be deemed to have waived this contingency and this Contract 149 shall remain in full force and effect. 150 FLOOD INSURANCE: Buyer shall have the option to declare this Contract null and void if the Real-Estak-ISr 151 locate ial flood hazard area. If Notice of the option to declare cont rAcL4vuff-znt-vol-d-i-s-not given to 152 Seller within ten (10) Business Days a ter e a e o ccep an i e specified in Paragraph 8 b), 153 whichever is later, Buyer shall be a such option and this Contrac emain in full 154 force a . of iing herein shall be deemed to affect any rights afforded by the Residential Rea t 155 isclosure Act. 156NCONDOMINI"I this INTEREST ASSOCIATIONS: (if applicable) The Parties agree that the ter t th 157 con a con as paragraph, which may be contrary to other terms of this Contract, shall superse any i s 158 nf]71ing�1,_ c 159 a) Title when con ed shall be good and merchantable, subject to terms, provisions, cov nts and conditions 160 of the Declaration o ondominjum/Covenants, Conditions and Restrictions laration/CCRs") and all 161 amendments; public and t easements including any easements es fished by or implied from the 162 Declaration/CCRs or an endmen ereto; party wall rights an reements; limitations and conditions 163 imposed by the Condominium Proper ct; installm due after the date of Closing of general 164 assessments established pursuant to the Declarati Rs, 165 b) Seller shall be responsible for payment of all rular asses. is due and levied prior to Closing and for all ' 166 special assessments confirmed prior to Date of Acceptance, 167 c) Seller shall notify Buyer of any p osed special assessment or increase i regular assessment between )ays 168 the Date of Acceptance an losing. The Parties shall have three (3) Buuimes to reach agreement 169 relative to payment tI cof. Absent such agreement either Party may declare the Coi%rr-Lnull and void. 170 d) Seller shall, wit five (5) Business Days from the Date of Acceptance, apply for those iten)s,,off disclosure 171 upon s described in the Illinois Condominium PTOPeTtv Act, and provide same in a timely mamwr, but 172 u ater than the time period provided for by lav,,. This Contract is subject to the condition that Seller be-abk 131illcr hl tial AJ4 Bmier blitial Seller Initia Seller Initial Address: z,6.1 llage 4 of 13 173 to procure and provide to Buyer a release or waiver of any right of first refusal or other pre-emptive rights to 174 purchase created by the Declaration/CCRs. In the event the Condominium Association requires the personal 175 appearance of Buyer or additional documentation,Buyer agrees to comply with same. 176 e) In the event the documents and information provided by Seller to Buyer disclose that the existing 177 improvements are in violation of existing rules, regulations or other restrictions or that the terms and 178 conditions contained within the documents would unreasonably restrict Buyer's use of the premises or 179 would result in financial obligations unacceptable to Buyer in connection with owning the Real Estate, then 180 Buyer may declare this Contract null and void by giving Seller Notice within five(5)Business Days after the 181 receipt of the documents and information required by this Paragraph, listing those deficiencies which are 182 unacceptable to Buyer. If Notice is not served within the time specified, Buyer shall be deemed to have 183 waived this contingency,and this Contract shall remain in full force and effect. 184 f) Seller shall not be obligated to provide a condominium survey. 185 g) Seller shall provide a certificate of insurance showing Buyer and Buyer's mortgagee,if any, as an insured. 186 16. THE DEED: Seller shall convey or cause to be conveyed to Buyer or Buyer's Designated grantee good and 187 merchantable title to the Real Estate by recordable Warranty Deed, with reease of homestead rights, (or the 188 appropriate deed if title is in trust or in an estate), and subject toyassuming liabilitytopay 189 2016 real estate taxes payableZOTRIAYhAWi eyed will be good and merchantable, subject 190 only to: covenants, conditions and restrictions of record and building lines and easements, if any, provided they 191 do not interfere with the current use and enjoyment of the Real Estate; and general real estate taxes not due 192 w4ich will be payable by Buyer 193 17. MUNICIPAL ORDINANCE,TRANSFER TAX,AND GOVERNMENTAL COMPLIANCE: 194 a) The Parties are cautioned that the Real Estate may be situated in a municipality that has adopted a pre- 195 closing inspection requirement,municipal Transfer Tax or other similar ordinances. Transfer taxes required 196 by municipal ordinance shall be paid by the Party designated in such ordinance. 197 b) The Parties agree to comply with the reporting requirements of the applicable sections of the Internal 198 Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended. 199 18. TITLE: At Seller's expense, Seller will deliver or cause to be delivered to Buyer or Buyer's attorney within 200 customary time limitations and sufficiently in advance of Closing, as evidence of title in Seller or Grantor, a title 201 commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by 202 a title company licensed to operate in the State of Illinois, issued on or subsequent to the Date of Acceptance, 203 subject only to items listed in Paragraph 16.The requirement to provide extended coverage shall not apply if the 204 Real Estate is vacant land. The commitment for title insurance furnished by Seller will be presumptive evidence 205 of good and merchantable title as therein shown, subject only to the exceptions therein stated. If the title 206 commitment discloses any unpermitted exceptions or if the Plat of Survey shows any encroachments or other 207 survey matters that are not acceptable to Buyer, then Seller shall have said exceptions, survey matters or 208 encroachments removed, or have the title insurer commit to either insure against loss or damage that may 209 result from such exceptions or survey matters or insure against any court-ordered removal of the 210 encroachments. If Seller fails to have such exceptions waived or insured over prior to Closing,Buyer may elect 211 to take title as it then is with the right to deduct from the Purchase Price prior encumbrances of a definite or 212 ascertainable amount.Seller shall furnish Buyer at Closing an Affidavit of Title covering the date of Closing, and 213 shall sign any other customary forms required for issuance of an ALTA Insurance Policy. 214 19. PLAT OF SURVEY: Not less than one (1) Business Day prior to Closing, except where the Real Estate is a 215 condominium (see Paragraph 15)Seller shall, at Seller's expense, furnish to Buyer or Buyer's attorney a Plat of Better Initial i" Buyer Initial Seiler hlifial Seller Initial Address: v6.1 Page 7 of 13 216 Survey that conforms to the current Minimum Standard of Practice for boundary surveys, is dated not more 217 than six (6) months prior to the date of Closing, and is prepared by a professional land surveyor licensed to 218 practice land surveying under the laws of the State of Illinois. The Plat of Survey shall show visible evidence of 219 improvements, rights of way, casements, use and measurements of all parcel lines. The land surveyor shall set 220 monuments or witness corners at all accessible corners of the land. All such corners shall also be visibly staked 221 or flagged.The Plat of Survey shall include the following statement placed near the professional land surveyor's 222 seal and signature: —1-his professional service conforms to the current Illinois Minimum Standards for a 223 boundary survey." A Mortgage Inspection, as defined, is not a boundary survey and is not acceptable. 224 20. DAMAGE TO REAL ESTATE OR CONDEMNATION PRIOR TO CLOSING: If prior to delivery of the deed the 225 Real Estate shall be destroyed or materially damaged by fire or other casualty, or the Real Estate is taken by 226 condemnation, then Buyer shall have the option of either terminating this Contract (and receiving a refund of 227 earnest money) or accepting the Real Estate as damaged or destroyed, together with the proceeds of the 228 condemnation award or any insurance payable as a result of the destruction or damage, which gross proceeds 229 Seller agrees to assign to Buyer and deliver to Buyer at Closing. Seller shall not be obligated to repair or replace 230 damaged improvements. The provisions of the Uniform Vendor and Purchaser Risk Act of the State of Illinois 231 shall be applicable to this Contract,except as modified by this paragraph. 232 21. CONDITION OF REAL ESTATE AND INSPECTION: Seller agrees to leave the Real Estate in broom clean 233 condition. All refuse and personal property that is not to be conveyed to Buyer shall be removed from the Real 234 Estate at Seller's expense prior to delivery of Possession. Buyer shall have the right to inspect the Real Estate, 235 fixtures and included Personal Property prior to Possession to verify that the Real Estate, improvements and 236 included Personal Property are in substantially the same condition as of the Date of Acceptance, normal wear 237 and tear excepted. 238 REAL ESTATE TAX ESCROW: In the event the Real Estate is improved, but has not been previously t for 239 the e ear as currently improved, the sum of three percent (3%) of the Purchase Price sha eposited in 240 escrow with the title c with the cost of the escrow to be divided equally b,, and Seller and paid at 241 Closing. When the exact amount of the taxes o nde ontract can be ascertained, the taxes 242 shall be prorated by Seller's attorney at the re er Party an e e of such tax liability after 243 proration shall be I aid e escrow funds and the balance, if any, shall be11r. If Seller's 244 obligilat* er such proration exceeds the amount of the escrow funds, Seller agrees to pay such excess 245 raptly upon demand. 246 23. SELLER REPRESENTATIONS: Seller's representations contained in this paragraph shall survive the Closing. 247 Seller represents that with respect to the Real Estate Seller has no knowledge of nor has Seller received any 248 written notice from any association or governmental entity regarding: 249 a) zoning, building, fire or health code violations that have not been corrected', 250 b) any pending rezoning; 251 c) boundary line disputes; 252 d) any pending condemnation or Eminent Domain proceeding; 253 e) casements or claims of casements not shown on the public records; 254 f) any hazardous haste on the Real Estate; 255 g) any improvements to the Real Estate for which the required initial and final permits were not obtained; 256 h) any improvements to the Rea.]Estate which are not included in full in O-K-determination of flx�most rea?nt tax assessment,,or 257 i) any improvements to the Real Estate which are eligible for the home improvement tax exemption. 258 Seller further represents that: Butler Initial Seller hiiiia Seller Iniflill Ad,drcss: ri &4 Pad 5 oll 73 259 There (check onelM is 0 is not a pending or unconfirmed special �a 6envt r t e date of Closing. 260 fectin:g eal Estate by any association or governmental entity a t"' a� 261 Real Estate Icheck onel is n�otlocated within a 'Special Assessment Area or 262 Special Service Area, paymen which wi I be the obligation of Seller after the year in which the Closing occurs. 263 All Seller representations shall be -mee as of Closing. If prior to Closing Seller becomes aware of 264 matters that require mo i i ion of the representatio ViOUSly made in this Paragraph 23, Seller shall 265 promptly noti 1 Fer. If the matters specified in such Notice ar resolved prior to Closing, Buyer may 266 ter ' e this Contract by Notice to Seller and this Contract shall be null an 267 24. BUSINESS DAYS/HOURS: Business Days are defined as Monday through Friday, excluding Federal 268 holiclays, Business Hours are defined as 8:00 A.M.to 6:00 P.M. Chicago time. 269 26. FACSIMILE OR DIGITAL SIGNATURES: Facsimile or digital signatures shall be sufficient for purposes of 270 executing, negotiating, and finalizing this Contract, and delivery thereof by one of the following methods shall 271 be deemed delivery of this Contract containing original signature(s). An acceptable facsimile signature may be 272 produced by scanning an original, hand-signed document and transmitting same by facsimile. An acceptable 273 digital signature may be produced by use of a qualified, established electronic security procedure mutually 274 agreed upon by the Parties.Transmissions of a digitally signed copy hereof shall be by an established, mutually 275 acceptable electronic method, such as creating a PDF ("Portable Document Format") document incorporating 276 the digital signature and sending same by electronic mail. 277 26. DIRECTION TO ESCROWEE: In every instance where this Contract shall be deemed null and void or if this 278 Contract may be terminated by either Party, the following shall be deemed incorporated: "and Earnest Money 279 refunded upon the joint written direction by the Parties to Escrowee or upon an entry of an order by a court of 280 competent jurisdiction." 281 In the event either Party has declared the Contract null and void or the transaction has failed to close as 282 provided for in this Cent.ract and if Escrowee has not received joint written direction by the Parties or such court 283 order, the Escrowee may elect to proceed as follows: 284 a) Escrowee shall give written Notice to the Parties as provided for in this Contract at least fourteen (14) days 285 prior to the date of intended disbursement of Earnest Money indicating the manner in which Escrowee 286 intends to disburse in the absence of any written objection. If no written objection is received by the date 287 indicated in the Notice then Escrowee shall distribute the Earnest Money as indicated in the written Notice 288 to the Parties. If any Party objects in writing to the intended disbursement of Earnest Money then Earnest 289 Monev shall be held until receipt of joint written direction from all Parties or until receipt of an order of a 290 court of competent jurisdiction. 291 b) Escrowee may file a Suit for Interpleader and deposit any funds held into the Court for distribution after 292 resolution of the dispute between Seller and Buyer by the Court. Escrowee may retain from the funds 293 deposited with the Court the amount necessary to reimburse Escrowee for court costs and reasonable 294 attorney's fees incurred due to the filing of the Interpleader. if the amount held in escrow is inadequate to 295 reimburse Escrowee for the costs and attorney's fees, Buver and Seller shall jointly and severally indemnify 296 Escrowee for additional costs and fees incurred in filing the Interpleader action. 297 27. NOTICE: Except as provided in Paragraph 32 c)2) regarding the manner of service for "kick-out" Notices, all 298 Notices shall be in writing and shall be served by one Partv or attornev to the other Party or attorney. Notice to 299 anv one of the multiple person Parte,shall be Sufficient Notice to all. Notice shall be given in the following manner: 300 a) By personal delivery;or Ymwr Initial Buller hvtwl 111itia 4L Seller Initial Axed re°ss: J)jjXe 7 o� 13 301 b) By mailing to the addresses recited herein by regular mail and by certified mail,return receipt requested. Except 302 as otherwise provided herein, Notice served by certified mail shall be effective on the date of mailing;Or 303 c) By facsimile transmission. Notice shall be effective as of date and time of the transmission, provided that the 304 Notice transmitted shall be sent on Business Days during Business Hours. In the event Notice is transmitted 305 during non-business hours, the effective date and time of Notice is the first hour of the next Business Day after 306 transmission;or 307 d) By e-mail transmission if an e-mail address has been furnished by the recipient Party or the recipient Party's 308 attorney to the sending Party or is shown in this Conti-act. Notice shall be effective as of date and time of e-mail 309 transmission, provided that, in the event e-mail Notice is transmitted during non-business hours, the effective 310 date and time of Notice is the first hour of the next Business Day after transmission. An attorney or Party may 311 opt out of future e-mail Notice by any form of Notice provided by this Contract;or 312 e) By commercial overnight delivery (e.g., FedEx). Such Notice shall be effective on the next Business Day 313 following deposit with the overnight delivery company. 314 28. PERFORMANCE: Time is of the essence of this Contract.In any action with respect to this Contract, the Parties 315 are free to pursue any legal remedies at law or in equity and the prevailing part), in litigation shall be entitled to 316 collect reasonable attorney fees and costs from the non-prevailing party as ordered by a court of competent jurisdiction, 317 29. CHOICE OF LAW AND GOOD FAITH: All terms and provisions of this Contract including but not limited to the 318 Attorney Review and Professional Inspection paragraphs shall be governed by the laws of the State of Illinois and 319 are subject to the covenant of good faith and fair dealing implied in all Illinois contracts. 320 30. OTHER PROVISIONS: This Contract is also subject to those OPTIONAL PROVISIONS initialed by the Parties 321 and the following additional attachments,if any: 322 323 OPTIONAL PROVISIONS(Applicable ONLY if initialed by all Parties) 324 31. CONFIRMATION OF DUAL AGENCY: The Parties confirm that they have previously 325 consented to (Licensee)acting as a Dual Agent in providing 326 brokerage services on their behalf and specifically consent to Licensee acting as a Dual Agent with regard to the 327 transaction referred to in this Contract. 328 32. SALE OF BUYER'S REAL ESTATE: 329 a) REPRESENTATIONS ABOUT BUYER'S REAL ESTATE:Buyer represents to Seller as follows: 330 1) Buyer owns real estate(hereinafter referred to as"Buyer's real estate")with the address of: 331 332 Address City State Zip 333 2) Buver(check oneJEDhas Elas not entered into a contract to sell Buyer's real estate, 334 If Buyer has entered into a contract to sell Buyer's real estate, that contract: 335 a) (check onelDs Ds not subject to a mortgage contingency. 336 b) (check onelDs Ds not subject to a real estate sale contingency. 337 c) [check onelDs Ds not subject to a real estate closing contingency, 338 3) Buyer(check onel Dias Dias not listed Buyer's real estate for sale with a licensed real estate broker and 339 in a local multiple listing service. 340 4) If buver',, real estate is not listed for sale Nvith a licensed real estate broker and in a local multiple listing 341 service, Buyer[check onel: f3liver 13rrt1r°r hlifw] Seller Initia Seller butilli -1d dres.i: (3 1A I"di 5�_T�a d S�lg �41 , xciS t3f 13 342 a) hall list real estate for sale with a licensed real estate broker who will place it in a local multiple 343 listing service within five(5)Business Days after Date of Acceptance. 344 [For information only]Broker: 345 Broker's Address: Phone: 346 b) ❑Does not intend to list said real estate for sale. 347 b) CONTINGENCIES BASED UPON SALE AND/OR CLOSING OF REAL ESTATE: 348 1) This Contract is contingent upon Buyer having entered into a contract for the sale of Buyer's real estate that 349 is in full force and effect as of ,20 . Such contract should provide for a closing 350 date not later than the Closing Date set forth in this Contract. If Notice is served on or before the date set 351 forth in this subparagraph that Buyer has not procured a contract for the sale of Buyer's real estate, this 352 Contract shall be null and void. If Notice that Buyer has not procured a contract for the sale of Buyer's 353 real estate is not served on or before the close of business on the date set forth in this subparagraph, 354 Buyer shall be deemed to have waived all contingencies contained in this Paragraph 32, and this 355 Contract shall remain in full force and effect.(if this paragraph is used, then the following paragraph must 356 be completed.) 357 2) In the event Buyer has entered into a contract for the sale of Buyer's real estate as set forth in Paragraph 32 358 b) 1) and that contract is in full force and effect, or has entered into a contract for the sale of Buyer's real 359 estate prior to the execution of this Contract, this Contract is contingent upon Buyer closing the sale of 360 Buyer's real estate on or before ,20 . If Notice that Buyer has not closed the sale 361 of Buyer's real estate is served before the close of business on the next Business Day after the date set 362 forth in the preceding sentence, this Contract shall be null and void. If Notice is not served as described 363 in the preceding sentence, Buyer shall have deemed to have waived all contingencies contained in this 364 Paragraph 32,and this Contract shall remain in full force and effect. 365 3) If the contract for the sale of Buyer's real estate is terminated for any reason after the date set forth in 366 Paragraph 32 b) 1) (or after the date of this Contract if no date is set forth in Paragraph 32 b) 1)),Buyer shall, 367 within three (3) Business Days of such termination, notify Seller of said termination. Unless Buyer, as part 368 of said Notice,waives all contingencies in Paragraph 32 and complies with Paragraph 32 d),this Contract 369 shall be null and void as of the date of Notice. If Notice as required by this subparagraph is not served 370 within the time specified,Buyer shall be in default under the terms of this Contract. 371 c) SELLER'S RIGHT TO CONTINUE TO OFFER REAL ESTATE FOR SALE: During the time of this contingency, 372 Seller has the right to continue to show the Real Estate and offer it for sale subject to the following: 373 1) If Seller accepts another bona fide offer to purchase the Real Estate while contingencies expressed in 374 Paragraph 32 b)are in effect,Seller shall notify Buyer in writing of same. Buyer shall then have 375 hours after Seller gives such Notice to waive the contingencies set forth in Paragraph 32 b), subject to 376 Paragraph 32 d). 377 2) Seller's Notice to Buyer(commonly referred to as a 'kick-out'Notice)shall be in writing and shall be served 378 on Buyer, not Buyer's attorney or Buyer's real estate agent.Courtesy copies of such'kick-out'Notice should 379 be sent to Buyer's attorney and Buyer's real estate agent, if known. Failure to provide such courtesy copies 380 shall not render Notice invalid. Notice to any one of a multiple-person Buyer shall be sufficient Notice to all 381 Buyers.Notice for the purpose of this subparagraph only shall be served upon Buyer in the following manner: 382 a) By personal delivery effective at the time and date of personal delivery;or j 383 b) By mailing to the address recited herein for Buyer by regular mail and by certified mail. Notice shall be 384 effective at 10:00 A.M.on the morning of the second day following deposit of Notice in the U.S.Mail;or Buyer Initial /7�� Buyer Initial Seller Initi Seller Initial v6.1 Address: Co Page 9 of 13 i 385 By commercial delivery overnight (e.g., FedEx). Notice shall be effective upon delivery or at 4:00 386Cli<-algo time an the next delivery day following deposit with the overnight deliver parry, 387 whiche 11\1 �r S I occurs. 7 t,T_ - 388 3) If Buyer complies VI I revisions of Paragraph 32 d)then this a I remain in full force and effect. vvllrl 389 4) If the contingencies set forth in ar 32 b) are N waived in writing, within said time period by 390 Buyer, this Contract shall be null and void. 391 5) Except as provided in Paragraph 32 above, all Noticade in the manner provided by 392 Paragraph 27 of this Corte . 393 6) Buyer ny ethical objection to the delivery of Notice under this paragraph by Seller's atto 394 presentative. 395 d) WAIVER OF PARAGRAPH 32 CONTINGENCIES: Buyer shall be deemed to have waived the contingencies in 396 Paragraph 32 b) when Buyer has delivered written waiver and deposited with the Escrowee additional earnest 397 money in the amount of$ in the form of a cashier's or certified check within the time 398 specified.If Buyer fails to deposit the additional earnest money within the time specified,the waiver shall be 399 deemed ineffective and this Contract shall be null and void. 400 e) BUYER COOPERATION REQUIRED: Buyer authorizes Seller or Seller's agent to verify representations contained 401 in Paragraph 32 at any time,and Buyer agrees to cooperate in providing relevant information. 402 33. CANCELLATION OF PRIOR REAL ESTATE CONTRACT: In the event either Party has entered 403 into a prior real estate contract,this Contract shall be subject to written cancellation of the prior contract on or before 404 20 . In the event the prior contract is not cancelled within the time specified, this 405 Contract shall be null and void. Seller's notice to the purchaser under the prior contract should not be served 406 until after Attorney Review and Professional Inspections provisions of this Contract have expired, been 407 satisfied or waived. 408 34. HOME WARRANTY: Seller shall provide at no expense to Buyer a Home Warranty at a cost 409 of$ . Evidence of a fully pre-paid policy shall be delivered at Closing. 410 35. CREDIT AT CLOSING: Provided Buyer's lender permits such credit to show on the FILTD-1 411 Settlement Statement or Closing Disclosure, and if not,such lesser amount as the lender permits, Seller agrees to 412 credit$ to Buyer at Closing to be applied to prepaid expenses,closing costs or both, 41336. TRANSACTIONS NOT CONTINGENT ON FINANCING: IF EITHER OF THE FOLLOWING 414 ALTERNATIVE O—PTIONS IS SELECTED, THE PROVISIONS OF THE MORTGAGE CONTINGENCY PARAGRAPH 8 415 SHALL NOT APPLY(CHOOSE ONLY ONE): 416 a) Transaction With No Mortgage(All Cash): If this selection is made,Buyer will pay at closing, 417 in the form of "Good Funds" the difference (plus or minus prorations) between the Purchase Price and the 418 amount of the Earnest Money deposited pursuant to Paragraph 4 above. Buyer represents to Seller, as of the 419 Date of Offer, that Buyer has sufficient funds available to satisfy the provisions of this paragraph.lhryer-aiwws 420 terrify the above representation upon the reasonable request of Seller and to authorize the i ure of such 421 financial in- tion to Seller, Seller's attorney or Seller's broker that may . na ly necessary to prove the 422 availability of sufficie ds to close. Buyer understands a es that, so long as Seller has fully complied 423 with Seller's obligations under ontract, a or omission outside of the control of Seller, whether 424 intentional or not, that prevents Buy_ I sa the -balance- due from Buver at closing, shall constitute a 425 material breach of this Co v BLIver. the Parties shall share the title company-e ee equally. V 'e ti pa y contingent 426 Unless oth rovided in Paragraph 32, this Contract shall not be contingent 7=pon=hes',le= 427 ing of Buyer's existing real estate. 131illel blit1174-29 Bui/t'r Inillai Seller sel/cr Initial Page 10 of 13 428 b) Transaction, Mortgage Allowed: If this selection is made, Buyer will pay at closing, i le Funds" m "Good 429 form "Good Funds" the difference (plus or minus prorations) between the Purchase Price and the lount of y 430 the Earnes oncy deposited pursuant to Paragraph 4 above. Buyer represents to Seller, e Date of Offer, c' fi 431 that Buyer has ficient funds available to satisfy the provisions of this paragr uyer agrees to verif), the represents Her, e Date Buyer re'res ' to provisions of this paragr uyer agrees to J�, -h request of Seller and to author' the disclosure of such 432 above representation on the reasonable j d ch financial o 1 433 information to Seller, Se attorney, or Seller's broker that ma reasonably necessary to prove the such j Sell t 434 availability of sufficient funds to se. NotA*th ending such resentation, Seller agrees to reasonably and �`, 11 llsta 435 promptly cooperate ivith Buyer_0 that Duswr may apply f y p y'r and obtain a mortgage loan or loans including but 436 not limited -1 V_,_ to providing access to the Rea Esta__ -_ _�s Bu'ver's obligations to pay the balance due (plus or 437 minus prorations) to close this transaction. Such perati all include the performance in a timely manner 438 of all of Seller's pre-closing obligations u T this Contract. This tract shall NOT be contingent upon u Such a t' all include obligations per u e performance in a timely manner '"ne' -15 This tract h NOT be contingent upon ' Con tract T ' shall I 439 Buyer obtaining financing. Buver;:;=rstards and agrees that, so long Her has fully complied with 440 Seller's obligations under this act, any act or omission outside of the control o er,whether intentional tl Is t r a t Closing shall I I c to a material I 441 or not, that prevents Jil�fronl satisfying the balance due from Buyer at Closing shall c te a material h m - f U i 442 breach of�fhi,,�ontract by Buyer. Buyer shall pay the title company escrow closing fee. Unless rwise in Paragraph f B 443 provi 'r I not b co ti ze t upon th Sal /or c R 0 uv Ok in Paragraph 32, this Contract shall not be contingent upon the sale and/or closing of Buye 444PK rsti ng real estate. 445 37. VA OR FHA FINANCING: If Buyer is seeking VA or FHA financing, required FHA or VA 446 amendments and disclosures shall be attached to this Contract, If VA, the Funding Fee, or if FHA, the Mortgage 447 Insurance Premium(MIP)shall be paid by Buyer and(check oneJoshall Oshall not be added to the mortgage loan amount. 448 38. WELL OR SANITARY SYSTEM INSPECTIONS: Seller shall obtain at Seller's expense a well 449 water test stating that the well delivers not less than five (5) gallons of water per minute and including a bacteria 450 and nitrate test and/or a septic report from the applicable Count), Health Department, a Licensed Environmental 451 Health Practitioner, or a licensed well and septic inspector, each dated not more than ninety (90) days prior to 452 Closing, stating that the well and water supply and the private sanitary system are in operating condition with no 453 defects noted.Seller shall remedy any defect or deficiency disclosed by said report(s)prior to Closing,provided that 454 if the cost of remedying a defect or deficiency and the cost of landscaping together exceed $3,000.00, and if the 455 Parties cannot reach agreement regarding payment of such additional cost, this Contract may be terminated by 456 either Party. Additional testing recommended by the report shall be obtained at the Seller's expense. If the report 457 recommends additional testing after Closing, the Parties shall have the option of establishing an escrow with a 458 mutual cost allocation for necessary repairs or replacements, or either Party may terminate this Contract prior to 459 Closing. Seller shall deliver a copy of Such evaluation(s) to Buyer not less than ten (10) Business Days prior to 460 Closing, 461 39. WOOD DESTROYING INFESTATION: Notwithstanding the provisions of Paragraph 12, 462 within ten (10) Business Days after the Date of Acceptance, Seiler at Seller's expense shall deliver to Buyer a written 463 report, dated not more than six (6) months prior to the Date of Closing, by a licensed inspector certified by the 464 appropriate state regulatory authority in the subcategory of termites, stating that there is no visible evidence of 465 active infestation by termites or other wood destroying insects. Unless otherwise agreed between the Parties,if the 466 report discloses evidence of active infestation or structural damage, Buyer has the option %vithin five (5) Business 467 Days of receipt of the report to proceed with the purchase or to declare this Contract null and void. 468 40. POST CLOSING POSSESSION: Possession shall be delivered no later than 11:59 P.M.on the 469 date that is-days after the date of Closing ("the Possession Date"). Seller shall be responsible for all 470 utilities, contents and liability insurance, and home maintenance expenses until delivery of possession. Seller shall pilvel 1111tiai 1V blive? Initial Seller Initirr Seller Initial Address: v6l I I of 13 471 deposit in escrow at Closing%vith Icheck onelElone Percent(I'%) 472 of the Purchase Price orDhe sum of$ to be paid by Escrowee as follows: 473 a) The sum of$ per day for use and occupancy from and including the day after Closing to 474 and including the day of delivery of Possession,if on or before the Possession Date; 475 b) The amount per day equal to three (3) times the daily amount set forth herein shall be paid for each day after 476 the Possession Date specified in this paragraph that Seller remains in possession of the Real Estate;and 477 c) The balance, if any, to Seller after delivery of Possession and provided that the terms of Paragraph 21 have been 478 satisfied, Seller's liability Linder this paragraph shall not be limited to the amount of the possession escrow 479 deposit referred to above.Nothing herein shall be deemed to create a Landlord/Tenant relationship between the Parties. 480 .... U — --41. "AS IS" CONDITION: This Contract is for the sale and purchase of the Real Estate in its"As 481 Is" condition as of the Date of Offer. Buyer acknowledges that no representations, warranties or guarantees with 482 respect to the condition of the Real Estate have been made by Seller or Seller's Designated Agent other than those 483 known defects, if any,disclosed by Seller. Buyer may conduct an inspection at Buyer's expense. In that event,Seller 484 shall make the Real Estate available to Buyer's inspector at reasonable times. Buyer shall indemnify Seller and hold 485 Seller harmless from and against any loss or damage caused by the acts of negligence of Buyer or any person 486 performing any inspection. In the event the inspection reveals that the condition of the Real Estate is 487 unacceptable to Buyer and Buyer so notifies Seller within five (5) Business Days after the Date of Acceptance, 488 this Contract shall be null and void. Buyer's notice SHALL NOT include a copy of the inspection report, and 489 Buyer shall not be obligated to send the inspection report to Seller absent Seller's written request for same, 490 Failure of Buyer to notify Seller or to conduct said inspection operates as a waiver of Buyer's right to terminate 491 this Contract under this paragraph and this Contract shall remain in full force and effect. Buyer acknowledges 492 that the provisions of Paragraph 12 and the warranty provisions of Paragraph 5 do not apply to this Contract. 493 42. SPECIFIED PARTY APPROVAL:This Contract is contingent upon the approval of the Real 494 Estate by 495 Buyer's Specified Party, within five (5) Business Days after the Date of Acceptance. In the event Buyer's Specified 496 Part, does not approve of the Real Estate and Notice is given to Seller within the time specified, this Contract shall 497 be null and void, If Notice is not served within the time specified, this provision shall be deemed waived by the 498 Parties and this Contract shall remain in full force and effect. 499 43. INTEREST BEARING ACCOUNT: Earnest money (with a completed W-9 and other Soo required forms), shall be held in a federally insured interest bearing account at a financial institution designated 501 by Escrowee. All interest earned on the earnest money shall accrue to the benefit of and be paid to Buyer. Buyer 502 shall be responsible for any administrative fee (not to exceed $100) charged for setting up the account. In 503 anticipation of Closing, the Parties direct Escrowee to close the account no sooner than ten (10) Business Days 504 prior to the anticipated Closing date. 505 44. MISCELLANEOUS PROVISIONS: Buyer's and Seller's obligations are contingent upon the 506 Parties entering into a separate written agreement consistent with the terms and conditions set forth herein, and 507 wriffisuch additional terms as either Party may deem necessary,providing for one or more of the folloving[dieck-applical5k,boxest 508 0 Articles of Agreement for Deed FlASSUmption of Seller's klortgage OCommercial/Investnient 509 Or Purchase Money Mortgage ElCooperative Apartment EINew Construction 510 0short salt? Dax-Deferred Exchange ElVacant Land Buyer Initial Bitkicr Mitral scl/cr 111111(i Seller Initial Addre" Mige 12(11-73 C-) 511 THIS DOCUMENTMLL BECOME A LEGALLY BINDING CONTRACT WHEN SIGNED BY ALL PARTIES AND DELIVERED TO THE PARTIES OR THEIR AGENTS. 512 THE PARTIES REPRESENT THAT THE TEXT OF THIS COPYRIGHTED FORM HAS NOT BEEN ALTERED AND IS IDENTICAL TO THE OFFICIAL 513 MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 6.1. 514 0.1�/ /-7 515 Da te lof DATE OF ACCEPTANCE 516 517 BLIVe'rSignatu 518 519 BLiyer Signature Seller Signature 520 -(,A-12V J - (fuA'(o T 4 Lf in 4=, Z3 LA G' 'moi 521 Print Buyer(s)Name(s)[Required] Print Seller(5)Name(s)fRequi.red] 522 1� 4,,44 §)o C-IM14E FR-P-IA P-b - 523 Address )dd ress 524 YOP_14VIL-t-E, 1t_ (00560 525 Cm, I Zip Ci6j, State Zip 526 &:�Q– q36-0 State 527 Phone E-mail Phone E-mail 528 FOR INFORMATION ONLY 529 530 Bu,vei's Brokerage NILS; State License= Seller's Brokerage MLS» State License 531 532 Address Cih, Zip Address City Zip 533 534 Buyer's Designated Agent NILS; State License= Seller's Designated Agent NILS State License 535 536 Phone Fax Phone Fax 537 538 E-mail E-mail 539 540 Buver's Attorney F-filail Seller's Attorney 541 542 Address Cit%, State Zip Address Citv State Zip 543 544 Phone Fax Phone Fax 545 546 Mortgage Compariv Phone 1-ionieo%%,ner's/CondoAssociation(if anN,) Phone 547 548 Loan Officer Phone/Fax Management Co Jother contact Phone 549 550 Loan Officer E-mail INIonagement Co,10ther Contact E-mail 551 i Illinois Real Estate License Law requires all offers be presented in a timely manner,Buyer requests verification that this offer was presented. 552 Seller rejection:This after eN as pre-tasted to Seller on —2t)—at—:—A.NI!P..M.and rejected on 553 20 at A.N1 4P N1. IS,-111-1 Initials] 554 A­­Itwl, Ali 1,.,,,,d u".111hon-ed(11414ictition or alffratfon 01 111)5 form v,any portit,i, ukeeof is piobiNted.Ott"%t A),,r;rvdaN, at 555 f,w A;,p,;,-,!!,,thc/ollou,'N 201' Vil,,,[-,j I�we i'lm", 1;t.o,, F)"Alge co-t,[',r:! SWI; 556 557 558 "o.1-'It i0kS 0,,. Pa,, In. 559 Piic r,, BilYcl laitial B1,11ep, Initial SCII(T lilitial Seller Initial 3, c�� Address: i,6.7 Pag,, 13 of 73 EXHIBIT"A" THAT PART OF LOTS 1, 2 AND 3 IN BLOCK 2 OF GALE'S SECOND ADDITION TO THE VILLAGE OF BRISTOL AND PART OF VACATED TR PAR EET LYING NORTHERLY OF AND ADJOINING SAID LOTS 1 AND 2,ALL CRIBED AS FOLLOWS COMMENCING AT THE SOUTHEAST CORN 7 IN SAID BLOCK 2, THENCE NORTHERLY ALONG THE EA E I1 SAID LOT 7, 160 FEET,THENCE WESTERLY PARALLEL WITH THF INE OF SAID LOT 7, 80 FEET TO THE WESTERLY LINE OF SAID L WESTERLY PARALLEL WITH THE NORTHERLY LINE 9F L # BLOCK 2, 12 FEET, THENCE NORTHERLY PARALLEL WIT TE LINE OF SAID NCE CONTINUING TS 6 AND 3, 98 FEET FOR THE POINT OF NORTHERLY ALONG SAID PARA I FEET TO FAS MEASURED LINE DRAWN ED ALONG THE PARALLEL WITH AND 99 66 FEET EASTERLY LINE OF SAID LOT 3 A D TERLY UNE EXTENDED NORTHERLY, THE SOUTHER LOCK 31N SAID GALE'S SECOND ADDITION,THENCE CONTIN I 'IERLY ALONG SAID PARALLEL UNE 99 66 FEET TO THE SOUT Y��1L.111�1 OF SAID BLOCK 3,THENCE EASTERLY ALONG SAID SOUTHE I FEET MORE OR LESS TO THE EASTERLY LINE OF SAID B K C SOUTHERLY ALONG SAID EASTERLY LINE { EXTENDED AND STERLY LINE OF SAID BLOCK 2. 175 5 FEET TO A LINE DRA PA L L ITH THE NORTH LINE OF LOTS 6.7 AND 8 IN SAID BLOCK 2, FRO M E NT OF BEGINNING, THENCE WESTERLY ALONG SAID PARALLEL LINE, T TO THE POINT OF BEGINNING, IN THE CITY OF YORKVILLE, KEND L COUNTY, ILLINOIS, EXCEPT THAT PART OF LOT 1 IN BLOCK 2 OF GALE'S SECOND ADDITION TO THE VILLAGE OF BRISTOL IN THE UNITED CITY OF THE VILLAGE OF YORKVILLE, IN KENDALL COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS,AND BEARINGS USE HEREIN ARE REFERENCED TO AN ASSUMED DATUM COMMENCING AT THE SOUTHEAST CORNER OF SAID BLOCK 2,THENCE NORTH 0 DEGREES 25 MINUTES 52 SECONDS WEST 246 05 FEET ALONG THE EAST LINE OF SAID BLOCK 2 TO THE SOUTH LINE OF THE PROPERTY DESCRIBED IN A WARRANTY DEED RECORDEC AS DOCUMENT NUMBER 77- 3054 IN THE RECORDER'S OFFICE OF KENDALL COUNTY, ILLINOIS AND TO THE POINT OF BEGINNING,THENCE SOUTH 87 DEGREES 31 MINUTES 25 SECONDS WEST 7 07 FEET ALONG SAID SOUTH LINE,THENCE NORTH 3 DEGREES 27 MINUTES 58 SECONDS EAST 104 01 FEET TO THE EAST LINE OF SAID BLOCK 2, THENCE SOUTH 0 DEGREES 25 MINUTES 52 SECONDS EAST 103 51 FEET TO THE POINT OF BEGINNING,CONTAINING 366 SQUARE FEET,MORE OR LESS SITUATED IN THE COUNTY OF KENDALL, ILLINOIS, FURTHER EXCEPTIONG THEREFROM THE PROPERTY AS SET FORTH IN THE DEED1, AS DOCUMENT O THE ILLINOIS DEPARTMENT OF NO 201100008299,SSAIDPORTATION RECORDED Y 20,20 , BEING MORE PROPERLY DESCRIBED AS FOLLOWS PART OF AND PARIN T OF VACAN GALE'S SECOND ADDITION To THE VILLAGE TED F BRISTOL AT D PARK STREET LYING NORTHERLY OF AND 201600004649 315 ADJOINING SAID LOT 1, IN THE CITY OF YORKVILLE, KENDALL COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS WITH THE BEARINGS BASED ON ILLINOIS STATE PLANE COORDINATE SYSTEM NAD 1983-EAST ZONE COMMENCING AT THE SOUTHWEST CORNER OF LOT 3ORTH BRIDGE STREET SUBDIVISION, IN YORKVILLE, THENCE SOUTH 85 REES 55 MINUTES 50 SECONDS EAST 40 740 METERS(133 66 F ING,THE ORTH LINE OF SAID VACATED PARK STREET TO THE IN ST 4 ,T CONTINUING SOUTH 95 DEGREES 55 MINUTES 98 METERS 116 40 FEET)ALONG THE NORTH LIN ATE PARK STREET TO THE WESTERLY EXISTING GH T E FOR FAP 326 (IL 47), THENCE SOUTH 05 DEGREES 07 MIN S S WEST 21 921 METERS [71 92 FEET]ALONG SAID WESTER I T OF WAY LINE,THENCE SOUTH 10 DEGREES 01 MINUTE E EST 31 702 METERS[I D4 00 FEET)ALONG SAID WESTERLY E OF WAY LINE, THENCE NORTH 85 DEGREES 45 MINUTES 27 SE 6 811 METERS[22 35 FEET], THENCE NORTH 06 DEGREE 34 SECONDS EAST 19 724 METERS [64 71 FEET], THENCE NORT D REES 53 MINUTES 39 SECONDS EAST 10 770 METERS(35 33F _NORTH 06 DEGREES 05 MINUTES 34 SECONDS EAST 23 86 3i FEET]TO THE POINT OF BEGINNING. CONTAINING 33 S M RS,MORE OR LESS [CONTAINING 3,563 , SQUARE FEE , M L S1, SITUATED IN THE UNITED CITY OF YORKVILLE, COUNTY T DAL Y VIRTUE OF THE HOMESTEAD EXEE OF ILLINOIS, HEREBY MPNG AND WAJVING TION LAWS OF THE STATE OF IL I I 201600004649 4/5