HomeMy WebLinkAbout10-140 •,
Resolution No. 10-140
RESOLUTION
AUTHORIZING EXECUTION OF A REAL ESTATE SALES CONTRACT
(485 East Chicago Street)
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS,that
Ed Schock, Mayor, and Diane Robertson, City Clerk, be and are hereby authorized and directed to
execute a real estate sales contract on behalf of the City of Elgin with Habitat For Humanity of
Northern Fox Valley,for the sale of property commonly known as 485 East Chicago,Elgin,a copy
of which is attached hereto and made a part hereof by reference.
s/Ed Schock
Ed Schock, Mayor
Presented: July 14, 2010
Adopted: July 14, 2010
Omnibus Vote: Yeas: 7 Nays: 0
Attest:
s/Diane Robertson
Diane Robertson, City Clerk
MULTI-BOARD RESIDENTIAL REAL ESTATE CONTRACT 4.0
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RE At iC7 orrouwort
1 I. THE PARTIES: Buyer and Seller are hereinafter referred to as the"Parties".
2
3 Buyer'(s)(Please Print) Habitat For Humanity of Northern Fox Valley, an Illinois not–for–profit
4 corporation
5 Seller(s)(Please Prier) Cit o E. ' I '.. ' ,t I . _orpo-ration
6
7 If Dual Agency applies,complete Optional Paragraph 41.
8
9 2. THE REAL ESTATE: Real Estate shall be defined to include the Real Estate and all improvements thereon. Seller
10 agrees to convey to Buyer or to Buyer's designated grantee, the Real Estate with the approximate lot size or acreage
11 of 3L k 47 s commonly known as: I4 E.�,v C cMo S*'+e�}� g13M 66i La
12 Address City State Zip
13 K•hne. 13-4oz.coy
14 County Unit#(if applicable) Permanent Index Number(s)of Real Estate
15
16 If Condo/Coop/Townhome Parking is Included:#of space(s) ;identified as Space(s)#
17 (check type) U deeded space; U limited common element; U assigned space
18
19 3. FIXTURES AND PERSONAL PROPERTY: All of the fixtures and personal property stated herein are owned by
20 Seller and to Seller's knowledge are in operating condition on the Date of Acceptance, unless otherwise stated herein.
21 Seller agrees to transfer to Buyer all fixtures, all heating, electrical, plumbing and well systems together with the
22 following items of personal property by Bill of Sale at Closing:[Check or enumerate applicable items]
23 _Refrigerator _All Tacked Down Carpeting Fireplace Screen(s)/Door(s)/Grate(s) _Central Air Conditioning
24 —Microwave
_All Window Treatments&Hardware Fireplace Gas Logs _Electronic or Media Air Filter
25 Microwave _Built-in or Attached Shelving _Existing Storms&Screens _Central Humidifier
—Dishwasher Dishwasher _Smoke Detector(s) _Security System(s)(owned) Sump Pump(s)
27 _
Garbage Disposal _Ceiling Fan(s) Intercom System _Water Softener(owned)_
28 _Trash Compactor TV Antenna System Central Vac&Equipment _Outdoor Shed
29 Washer _Window Air Conditioner(s) _Electronic Garage Door Openers) _Attached Gas Grill
—Dryer
Dryer Planted Vegetation with all Transmitter(s) _Light Fixtures,as they exist
31 __Satellite Dish _Outdoor Play sets —Invisible Fence System,Collar(s)and Box _Home Warranty S
32 Other items included:
33 Items NOT included:
34 Seller warrants to Buyer that all fixtures, systems and personal property included in this Contract shall he in operating
35 condition at possession, except:
36 A system or item shall be deemed to be in operating condition if it performs the function for which it is intended,
37 regardless of age,and does not constitute a threat to health or safety.
38
39 4. PURCHASE PRICE: Purchase Price of$ One (1) Dollar shall be paid as follows:4fritial•-
40 -ca.ncst„roue} of$ by Q �l,wl� Q ail,6I:;❑ Hutt JUL vn , 20
. . . , . . ... . .
43 Petiei-The Purchase Price, as adjusted by prorations, shall be paid at Closing by wire transfer of funds,
44 or by certified, cashier's, mortgage lender's or title company's check (provided that the title company's check is
45 guaranteed by a licensed title insurance company).
46
47 5. CLOSING: Closing or escrow payout shall be on July 23 , 2010 , or at such time as
48 mutually agreed upon by the Parties in writing. Closing shall take place at the title company escrow office situated
49 geographically nearest the Real Estate or as shall be agreed mutually by the Parties.
50
51 6. POSSESSION: Unless otherwise provided in Paragraph 39, Seller shall deliver possession to Buyer at the time of
52 Closing. Possession shall be deemed to have been delivered when Seller has vacated the Real Estate and delivered keys
53 to the Real Estate to Buyer or to Listing Office.
IBuyer Initial 1 () Buyer Initial� Seller Initial ,. Seller Initial
4clilrnvc C. (ARO S*Li ��.w __��ItO_« -- — -
54 7. RESIDENTIAL REAL ESTATE AND LEAD-BASED PAINT DISCLOSURES: If applicable, prior to signing
55 this Contract, Buyer[check oneJ;® has ❑ has not received a completed Illinois Residential Real Property Disclosure
56 Report;[check oneJ ® has,® has not received the EPA Pamphlet, "Protect Your Family From Lead in Your Horne";
57 [check oneJ;M has,❑ has not received a Lead-Based Paint Disclosure.
58
59 8. PRORATIONS: Proratable items shall include, without limitation,rents and deposits (if any) from tenants, Special
60 Service Area tax for the year of closing only, utilities, water and sewer, and homeowner or condominium association
61 fees (and Master/Umbrella Association fees, if applicable). Accumulated reserves of a Homeowner/Condominium
62 Associationts) are not a proratable item. Seller represents that as of the Date of Acceptance Homeowner/Condominium
63 Associationts)fees are $ N/A per N/A (and,if applicable,fees for a Master/Umbrella Association are
64 $ N/A per N/A ). Seller agrees to pay prior to or at Closing any special assessments (governmental or
65 association)confirmed prior to Date of Acceptance. Installments due after the year of Closing for a Special Service Area
66 shall not be a proratable item. The general Real Estate taxes shall be prorated as of the date of Closing based on
67 100 % of the most recent ascertainable full year tax bill. All prorations shall be final as of Closing, except as
68 provided in Paragraph 20. If the amount of the most recent ascertainable tax bill reflects a homeowner, senior citizen or
69 other exemption, Seller has submitted or will submit in a timely manner all necessary documentation to the Assessor's
70 Office,before or after Closing,to preserve said exemptionts).
71
- -
73 this Contract, other than stated Purchase Price,within five (5)Business Days after the Date • . .a ce. Disapproval
74 or modification of this Contract shall not be based solely upon stated ' -• ' ce. Any notice of disapproval or
75 proposed modification(s)by any Party shall be in •:. • i en notice is not served within the time specified,this
76 provision shall be deemed wai •• : • •arties and this Contract shall remain in full force and effect. If prior to
77 the expirati a I I Business Days after Date of Acceptance,written agreement is not reached by the Parties
78 .. . . • . . . ; , . . . ; : . , , . . . . .
79
80 :. • • : :. . :
81 governmental regulations) a home, radon, environmental, lead-based paint and/or lead-based paint hazar• unless
82 separately waived), and/or wood destroying insect infestation inspection(s) of said Real Estate by one • ore licensed
83 or certified inspection service(s). Buyer shall serve written notice upon Seller or Seller's • ley of any defects
84 disclosed by the inspectionts) which are unacceptable to Buyer, together with a copy • le pertinent pagets) of the
85 report(s) within five (5) Business Days (ten (10) calendar days for a lead-based .•• t and/or lead-based paint hazard
86 inspection)after Date of Acceptance. If written notice is not served withi• e time specified,this provision shall be
87 deemed waived by the Parties and this Contract shall remain in . force and effect if prior to the expiration of
88 ten (10) Business Days after Date of Acceptance, written • eement is not reached by the Parties with respect to
89 resolution of inspection issues, then this Contrac - a 1 be null and void. The home inspection shall cover only
90 major components of the Real Estate, includi • t not limited to, central heating systems), central cooling systems),
91 plumbing and well system, electrical s roof, walls, windows, ceilings, floors, appliances and foundation. A major
92 component shall be deemed to b- - operating condition if it performs the function for which it is intended,regardless of
93 age, and does not consti • threat to health or safety. The fact that a functioning component may be at the end of its
94 useful life shall no der such component defective for the purpose of this paragraph. Buyer shall indemnify Seller
95 and hold Sel armless from and against any loss or damage caused by the acts or negligence of Buyer or any person
96 perfo..-• g any inspectionts). Buyer agrees minor repairs and routine maintenance items are not a part of this
98
99
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100 Disclosure (see page 11). This Contract is contingent u•on Bu - •• •• . • wntten mortgage commitment
101 (except for matters of title a•• - : o a within Buyer's control)on or before , 20
102 . -- -_..ei� .•, u� , : •� i -. •
Buyer Initial______(t_Buyer Initial Seller Initial Seller Initial_
Address - _ �Y� E . _lit►:e4 St, M 3�.� I L 6e IvD — –
Page 2
103 loattolS or such lesser amount its Beyer elcefs to take,p private-n9ortgage insttratice (PM}
104 required. The interest rate (initial rate, if applicable) shall not exceed % per annum, amortized over not - than
105 years. Buyer shall pay loan origination fee and/or discount points not to exceed _ % of th- .an amount.
106 Buyer shall pay the cost of application, usual and customary processing fees and closing costs •. ged by lender. (If
107 FHA/VA, complete Paragraph 35.) (If closing cost credit, complete Paragraph 33.) Bu shall make written loan
108 application within five (5) Business Days after the Date of Acceptance. Failure ts s so shall constitute an act of
109 Default under this Contract. If Buyer, having applied for the loan specif above, is unable to obtain such loan
110 commitment and serves written notice to Seller within the time spe 'ed, this Contract shall be null and void.If
111 written notice of inability to obtain such loan commitment is • . served within the time specified, Buyer shall be
112 deemed to have waived this contingency and this Con : shall remain in full force and effect. Unless otherwise
113 provided in Paragraph 31, this Contract shall n• a contingent upon the sale and/or closing of Buyer's existing
114 real estate. Buyer shall be deemed to have . • isfied the financing conditions of this paragraph if Buyer obtains a loan
115 commitment in accordance with the is of this paragraph even though the loan is conditioned on the sale and/or
116 closing of Buyer's existing re. -state. if Seller at Seller's option and expense, within thirty (30) days after Buyer's
117 notice, procures for Bu - • uch commitment or notifies Buyer that Seller will accept a purchase money mortgage upon
118 the same terms,t ontract shall remain in full force and effect. In such event, Seller shall notify Buyer within five(5)
119 Business D. after Buyer's notice of Seller's election to provide or obtain such financing, and Buyer shall furnish to
120 Sell- . ender all requested information and shall sign all papers necessary to obtain the mortgage commitment and to
121 - .-- the lean.
122
123 12. HOMEOWNER INSURANCE_ This Contract is contingent upon Buyer's securing evidence of insurability for an
124 Insurance Service Organization Homeowner 3 (ISOH03) or applicable equivalent policy at Preferred Premium rates
125 within ten (10) Business Days after Date of Acceptance. If Buyer is unable to obtain evidence of insurability and
126 serves written notice with proof of same to Seller within the time specified,this Contract shall be null and void.If
127 written notice is not served within the time specified,Buyer shall be deemed to have waived this contingency and
128 this Contract shall remain in full force and effect.
129
130 13. FLOOD INSURANCE: Unless previously disclosed in the Illinois Residential Real Property Disclosure Report,
131 Buyer shall have the option to declare this Contract null and void if the Real Estate is located in a special flood hazard
132 area which requires Buyer to carry flood insurance. if written notice of the option to declare this Contract null and
133 void is not given to Seller within ten (10) Business Days after Date of Acceptance or within the term specified in
134 Paragraph 11 (whichever is later), Buyer shall be deemed to have waived such option and this Contract shall
135 remain in full force and effect. Nothing herein shall be deemed to affect any rights afforded by the Residential Real
136 Property Disclosure Act.
137
138 14. CONDOMINIUM/COMMON INTEREST ASSOCIATIONS: (If applicable) The Parties agree that the terms
139 contained in this paragraph,which may be contrary to other terms of this Contract, shall supersede any conflicting terms.
140 (a) Title when conveyed shall be good and merchantable, subject to terms, provisions, covenants and conditions of
141 the Declaration of Condominium/Covenants, Conditions and Restrictions and all amendments;public and utility
142 easements including any easements established by or implied from the Declaration of Condominium/Covenants,
143 Conditions and Restrictions or amendments thereto;party wall rights and agreements;limitations and conditions
144 imposed by the Condominium Property Act; installments due after the date of Closing of general assessments
145 established pursuant to the Declaration of Condominium/Covenants, Conditions and Restrictions.
146 (b) Seller shall be responsible for all regular assessments due and levied prior to Closing and for all special
147 assessments confirmed prior to the Date of Acceptance.
148 (c) Buyer has,within five(5) Business Days from the Date of Acceptance, the right to demand from Seller items as
149 stipulated by the Illinois Condominium Property Act, if applicable, and Seller shall diligently apply for same.
150 This Contract is subject to the condition that Seller be able to procure and provide to Buyer, a release or waiver
151 of any option of first refusal or other pre-emptive rights of purchase created by the Declaration of
152 Condominium/Covenants, Conditions and Restrictions within the time established by the Declaration of
153 Condominium/Covenants, Conditions and Restrictions. In the even e Condominium Association requires
Buyer Initial po Biryer Initial Seller Initial Seller Initial
Address '
----—-----. �f E. C�s.4. e_NTAs�fi boiZo ----- --
Page
154 personal appearance of Buyer and/or additional documentation,Buyer agrees to comply with same.
155 (d) In the event the documents and information provided by Seller to Buyer disclose that the existing improvements
156 are in violation of existing rules, regulations or other restrictions or that the terms and conditions contained
157 within the documents would unreasonably restrict Buyer's use of the premises or would result in increased
158 financial obligations unacceptable to Buyer in connection with owning the Real Estate, then Buyer may
159 declare this Contract null and void by giving Seller written notice within five (5) Business Days after the
160 receipt of the documents and information required by Paragraph 14 (c), listing those deficiencies which
161 are unacceptable to Buyer.If written notice is not served within the time specified,Buyer shall be deemed
162 to have waived this contingency,and this Contract shall remain in full force and effect.
163 (e) Seller shall not be obligated to provide a condominium survey.
164 (f) Seller shall provide a certificate of insurance showing Buyer(and Buyer's mortgagee,if any) as an insured.
165
166 15. THE DEED: Seller shall convey or cause to be conveyed to Buyer or Buyer's designated grantee good and
167 merchantable title to the Real Estate by recordable general Warranty Deed, with release of homestead rights, (or the
168 appropriate deed if title is in trust or in an estate), and with real estate transfer stamps to be paid by Seller (unless
169 otherwise designated by local ordinance). Title when conveyed will be good and merchantable, subject only to: general
170 real estate taxes not due and payable at the time of Closing, covenants, conditions, and restrictions of record, building
171 lines and easements, if any, so long as they do not interfere with the current use and enjoyment of the Real Estate.
172
173 16. TITLE: At Seller's expense, Seller will deliver or cause to be delivered to Buyer or Buyer's attorney within
174 customary time limitations and sufficiently in advance of Closing, as evidence of title in Seller or Grantor, a title
175 commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by a title
176 company licensed to operate in the State of Illinois, issued on or subsequent to the Date of Acceptance, subject only to
177 items listed in Paragraph 15. The requirement of providing extended coverage shall not apply if the Real Estate is vacant
178 land. The commitment for title insurance furnished by Seller will be conclusive evidence of good and merchantable title
179 as therein shown, subject only to the exceptions therein stated. If the title commitment discloses unpermitted exceptions,
180 or if the Plat of Survey shows any encroachments which are not acceptable to Buyer, then Seller shall have said
181 exceptions or encroachments removed, or have the title insurer commit to insure against loss or damage that may be
182 caused by such exceptions or encroachments. If Seller fails to have unpermitted exceptions waived or title insured over
183 prior to Closing, Buyer may elect to take the title as it then is, with the right to deduct from the Purchase Price prior
184 encumbrances of a definite or ascertainable amount. Seller shall furnish Buyer at Closing an Affidavit of Title covering
185 the date of Closing, and shall sign any other customary forms required for issuance of an ALTA Insurance Policy.
186
187 17. PLAT OF SURVEY: Not less than one (1) Business Day prior to Closing, except where the Real Estate is a
188 condominium(see Paragraph 14) Seller shall, at Seller's expense, furnish to Buyer or Buyer's attorney a Plat of Survey
189 dated not more than six (6) months prior to the date of Closing, prepared by an Illinois Professional Land Surveyor,
190 showing any encroachments, measurements of all lot lines, all easements of record,building set back lines of record,
191 fences, all buildings and other improvements on the Real Estate and distances therefrom to the nearest two lot lines. In
192 addition, the survey to be provided shall be a boundary survey conforming to the current requirements of the appropriate
193 state regulatory authority. The survey shall show all corners staked,flagged, or otherwise monumented. The survey shall
194 have the following statement prominently appearing near the professional land surveyor seal and signature: "This
195 professional service conforms to the current Illinois minimum standards for a boundary survey". A Mortgage Inspection,
196 as defined,is not a boundary survey, and is not acceptable.
197
198 18.ESCR W CLOSING: At the election of either Party, not less than five (5) Business Days prior to the Closing,this
199 sale shall be closed through an escrow with the lending institution or the title company in accordance with the provisions
200 of the usual form of Deed and Money Escrow Agreement, as agreed upon between the Parties, with provisions inserted
201 in the Escrow Agreement as may be required to conform with this Contract. The cost of the escrow shall be paid by the
202 Party requesting the escrow. If this transaction is a cash purchase (no mortgage is secured by Buyer), the Parties shall
203 share the title company escrow closing fee equally.
204
Buyer InitialY)
-Buyer Initial Seller Initial 05 Seller initial_
Address it_t_ c --;.��.�L_f oiZc
f- 1
205 19. DAMAGE TO REAL ESTATE PRIOR TO CLOSING: If, prior to delivery of the deed,the Real Estate shall be
206 destroyed or materially damaged by fire or other casualty,or the Real Estate is taken by condemnation, then Buyer shall
207 have the option of either terminating this Contract (and receiving a refund of earnest money) or accepting the Real
208 Estate as damaged or destroyed, together with the proceeds of the condemnation award or any insurance payable as a
209 result of the destruction or damage, which gross proceeds Seller agrees to assign to Buyer and deliver to Buyer at
210 closing. Seller shall not be obligated to repair or replace damaged improvements. The provisions of the Uniform Vendor
211 and Purchaser Risk Act of the State of Illinois shall be applicable to this Contract,except as modified in this paragraph.
212
213 20. REAL ESTATE TAX ESCROW: In the event the Real Estate is improved, but has not been previously taxed for
214 the entire year as currently improved, the sum of three percent (3%) of the Purchase Price shall be deposited in escrow
215 with the title company with the cost of the escrow to be divided equally by Buyer and Seller and paid at Closing. When
216 the exact amount of the taxes prorated under this Contract can be ascertained, the taxes shall be prorated by Seller's
217 attorney at the request of either Party, and Seller's share of such tax liability after reproration shall be paid to Buyer from
218 the escrow funds and the balance, if any, shall be paid to Seller. If Seller's obligation after such reproration exceeds the
219 amount of the escrow funds, Seller agrees to pay such excess promptly upon demand.
220
221 21. SELLER REPRESENTATIONS: Seller represents that Seller has not received written notice from any
222 Governmental body or Homeowner Association regarding (a) zoning, building, fire or health code violations that have
223 not been corrected; (b) any pending rezoning; (c) any pending condemnation or eminent domain proceeding; or (d) a
224 proposed or confirmed special assessment and/or Special Service Area affecting the Real Estate. Seller represents,
225 however, that,in the case of a special assessment and/or Special Service Area,the following applies:
226 1. There[check one]is ❑ is not a proposed or pending unconfirmed special assessment affecting the Real
227 Estate not payable by Seller after date of Closing.
228 2. The Real Estate[check one]is ❑ is not;® located within a Special Service Area, payments for which will
229 not be the obligation of Seller after date of Closing.
230 If any of the representations contained herein regarding non-Homeowner Association special assessment or
231 Special Service Area are unacceptable to Buyer, Buyer shall have the option to declare this Contract null and
232 void. If written notice of the option to declare this Contract null and void is not given to Seller within ten (10)
233 Business Days after Date of Acceptance or within the term specified in Paragraph 11 (whichever is later), Buyer
234 shall be deemed to have waived such option and this Contract shall remain in full force and effect. Seller further
235 represents that Seller has no knowledge of boundary line disputes, easements or claims of easement not shown by the
236 public records, any hazardous waste on the Real Estate or any improvements for which the required permits were not
237 obtained. Seller represents that there have been no improvements to the Real Estate which are not either included in full
238 in the determination of the most recent real estate tax assessment or which are eligible for home improvement tax
239 exemption.
240
241 22. CONDITION OF REAL ESTATE AND INSPECTION: Seller agrees to leave the Real Estate in broom clean
242 condition. All refuse and personal property that is not to be conveyed to Buyer shall be removed from the Real Estate at
243 Seller's expense before possession. Buyer shall have the right to inspect the Real Estate,fixtures and personal property
244 prior to possession to verify that the Real Estate, improvements and included personal property are in substantially the
245 same condition as of the Date of Acceptance,normal wear and tear excepted.
246
247 23. GOVERNMENTAL COMPLIANCE: Parties agree to comply with the reporting requirements of the applicable
248 sections of the Internal Revenue Code and the Real Estate Settlement Procedures Act of 1974, as amended.
249
250 24. BUSINESS DAYS/HOURS: Business Days are defined as Monday through Friday, excluding Federal holidays.
251 Business Hours are defined as 8:00 A.M. to 6:00 P.M. Chicago time.
252
253 25. FACSIMILE: Facsimile signatures shall be sufficient for purposes of executing, negotiating, and finalizing this
254 Contract.
Buyer Initial (-)p-, Buyer Initial- Seller Initial43? Seller Initial_,
Address — —--LPN' E. t.icA.r- 1!t�,f, 1 -IL-44:040
—
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255 26. DIRECTION TO ESCROWEE: In every instance where this Contract shall be deemed null and void or if this
256 Contract may be terminated by either Party,the following shall be deemed incorporated:"and earnest money refunded to
257 Buyer upon written direction of the Parties to Escrowee or upon entry of an order by a court of competent jurisdiction".
258
259 27. NOTICE: All Notices, except as provided otherwise in Paragraph 31(C)(2), shall be in writing and shall be served
260 by one Party or attorney to the other Party or attorney. Notice to any one of a multiple person Party shall be sufficient
261 Notice to all.Notice shall be given in the following manner:
262 (a) By personal delivery of such Notice; or
263 (b) By mailing of such Notice to the addresses recited herein by regular snail and by certified mail, return receipt
264 requested. Except as otherwise provided herein, Notice served by certified mail shall be effective on the date of
265 mailing; or
266 (c) By sending facsimile transmission. Notice shall be effective as of date and time of facsimile transmission,
267 provided that the Notice transmitted shall be sent on Business Days during Business Hours. Ln the event fax
268 Notice is transmitted during non-business hours,the effective date and time of Notice is the first hour of the next
269 Business Day after transmission; or
270 (d) By sending e-mail transmission. Notice shall be effective as of date and time of e-mail transmission, provided
271 that the Notice transmitted shall be sent during Business Hours, and provided further that the recipient provides
272 written acknowledgment to the sender of receipt of the transmission (by e-mail, facsimile, regular mail or
273 commercial overnight delivery). In the event e-mail Notice is transmitted during non-business hours, the
274 effective date and time of Notice is the first hour of the next Business Day after transmission; or
275 (e) By commercial overnight delivery (e.g., FedEx). Such Notice shall be effective on the next Business Day
276 following deposit with the overnight delivery company.
277
278 28.PERFORMANCE: Time is of the essence of this Contract. In any action with respect to this Contract,the Parties
279 are free to pursue any legal remedies at law or in equity and the prevailing Party in litigation shall be entitled to collect
280 reasonable attorney fees and costs from the non-Prevailing Party as ordered by a court of competent jurisdiction. There
281 shall be no disbursement of earnest money unless Escrowee has been provided written agreement from Seller and Buyer.
282 Absent an agreement relative to the disbursement of earnest money within a reasonable period of time, Escrowee may
283 deposit funds with the Clerk of the Circuit Court by the filing of an action in the nature of interpleader. Escrowee shall
284 be reimbursed from the earnest money for all costs, including reasonable attorney fees, related to the filing of the
285 interpleader action. Seller and Buyer shall indemnify and hold Escrowee harmless from any and all conflicting claims
286 and demands arising under this paragraph.
287
288 29. CHOICE OF LAW/GOOD FAITH: All terms and provisions of this Contract including,but not limited to, the
289 Attorney Review and Professional Inspection paragraphs, shall be governed by the laws of the State of Illinois and are
290 subject to the covenant of good faith and fair dealing implied in all Illinois contracts.
291
292 30. OTHER PROVISIONS: This Contract is also subject to those OPTIONAL PROVISIONS selected for use and
293 initialed by the Parties which are contained in the following paragraphs and attachments,if any:"A.i.C:Av �t C.nl
294 gt ..�+�..� 6.ti... S.V. ib4 kgs' Emi• C3,:y•sj.S)via.i. EI•�' t 111b�.:s (obito wl }w.. j
295 II I"c.li �. sd i•,}o 4 w !*.} Oi' }> (.�..��
296 THE FOL OWING OPTIONAL PROVISIONS APPLY ONLY IF INITIALED BY ALL PARTIES
297
298 _ 31. SALE OF BUYER'S REAL ESTATE:
299 Initials
300 (A)REPRESENTATIONS ABOUT BUYER'S REAL ESTATE: Buyer represents to Seller as follows
301 (1) Buyer owns real estate commonly known as(address):
302
303 (2) Buyer[check one]C:1has;❑ has not entered into a contract to sell said real estate If Buyer has entered into a contract to
304 sell said real estate,that contract
305 (a) [check one] ,0 iso❑ is not subject to a mortgage contingency.
Buyer Initial (5 Buyer Initial Seller Initial Seller Initial
Address _4(o:___ _____h►e. Sr c e,1 - ' T L 601 L.)
— . ---- —ter — —--
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306 (b) [check one] LI is U is not subject to a real estate sale contingency.
307 (c) [check one] :U is® is not subject to a real estate closing contingency.
308 (3) Buyer [check oneJ,❑ has,U has not listed said real estate for sale with a licensed real estate broker and in a local
309 multiple listing service.
310 (4) If Buyer's real estate is not listed for sale with a licensed real estate broker and in a local multiple listing service,
311 Buyer[check one/
312 (a) ,® Shall list said real estate for sale with a licensed real estate broker who will place it in a local multiple listing
313 service within five(5)Business Days after the Date of Acceptance.
314 For information only: Broker:
315 Broker's Address: Phone:
316 (b) .❑ Does not intend to list said real estate for sale.
317 (B)CONTINGENCIES BASED UPON SALE AND/OR CLOSE OF BUYER'S REAL ESTATE:
318 (1) This Contract is contingent upon Buyer having entered into a contract for the sale of Buyer's real estate that is in full force
319 and effect as of , 20 . Such contract shall provide for a closing date not later than the Closing
320 Date set forth in this Contract. If written notice is served on or before the date set forth in this subparagraph that
321 Buyer has not procured a contract for the sale of Buyer's real estate,this Contract shall be null and void.If written
322 notice that Buyer has not procured a contract for the sale of Buyer's real estate is not served on or before the close
323 of business on the date set forth in this subparagraph, Buyer shall be deemed to have waived all contingencies
324 contained in this Paragraph 31,and this Contract shall remain in full force and effect. (If this paragraph is used,then
325 the following paragraph must be completed.)
326 (2) In the event Buyer has entered into a contract for the sale of Buyer's real estate as set forth in Paragraph 31 (B)(1)and that
327 contract is in full force and effect, or has entered into a contract for sale of Buyer's real estate prior to the execution of this
328 Contract, this Contract is contingent upon Buyer closing the sale of Buyer's real estate on or before
329 , 20 . If written notice that Buyer has not closed the sale of Buyer's real estate is
330 served before the close of business on the next Business Day after the date set forth in the preceding sentence,this
331 Contract shall be null and void.If written notice is not served as described in the preceding sentence,Buyer shall be
332 deemed to have waived all contingencies contained in this Paragraph 31,and this Contract shall remain in full force
333 and effect.
334 (3) If the contract for the sale of Buyer's real estate is terminated for any reason after the date set forth in Paragraph 31 (B)(l)
335 (or after the date of this Contract if no date is set forth in Paragraph 31 (B)(1)),Buyer shall,within three(3)Business Days
336 of such termination, notify Seller of said termination. Unless Buyer,as part of said notice,waives all contingencies in
337 Paragraph 31 and complies with Paragraph 31 (D),this Contract shall be null and void as of the date of notice. if
338 written notice as required by this subparagraph is not served within the time specified, Buyer shall be in default
339 under the terms of this Contract.
340 (C) SELLER'S RIGHT TO CONTINUE TO OFFER REAL ESTATE FOR SALE: During the time of this contingency, Seller
341 has the right to continue to show the Real Estate and offer it for sale subject to the following:
342 (1) If Seller accepts another bona fide offer to purchase the Real Estate while the contingencies expressed in subparagraph(B)
343 are in effect,Seller shall notify Buyer in writing of same. Buyer shall then have hours after Seller gives such
344 notice to waive the contingencies set forth in Paragraph 31 (B), subject to Paragraph 31 (D).
345 (2) Seller's notice to Buyer (commonly referred to as a "kick-out" notice) shall be served on Buyer, not Buyer's
346 attorney or Buyer's real estate agent. Courtesy copies of such "kick-out" notice should be sent to Buyer's attorney and
347 real estate agent, if known. Failure to provide such courtesy copies shall not render notice invalid. Notice to any one of a
348 multiple-person Buyer shall be sufficient notice to all Buyers. Notice for the purpose of this subparagraph only shall be
349 served upon Buyer in the following manner:
350 (a) By personal delivery of such notice effective at the time and date of personal delivery;or
351 (b) By mailing of such notice to the addresses recited herein for Buyer by regular mail and by certified mail. Notice
352 served by regular mail and certified mail shall be effective at 10:00 A M. on the morning of the second day following
353 deposit of notice in U.S. Mail;or
354 (c) By commercial overnight delivery (e.g.,FedEx). Such notice shall be effective upon delivery or at 4:00 P.M Chicago
355 time on the next delivery day following deposit with the overnight delivery company, whichever first occurs.
356 (3) If Buyer complies with the provisions of Paragraph 31 (D)then this Contract shall remain in full force and effect
357 (4) If the contingencies set forth in Paragraph 31 (B) are NOT waived in writing within said time period by Buyer, this
358 Contract shall be null and void.
359 (5) Except as provided in subsections to subparagraph (C) (2) above, all notices shall be made in the manner provided by
Buyer Initial_ (. _Buyer Initial Seller Initial 6 Seller Initial
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360 Paragraph 27 of this Contract.
361 (6) Buyer waives any ethical objection to the delivery of notice under this paragraph by Seller's attorney or representative.
362 (D)WAIVER OF PARAGRAPH 31 CONTINGENCIES: Buyer shall be deemed to have waived the contingencies in Paragraph
363 31 (B)when Buyer has delivered written waiver and deposited with the Escrowee the additional sum of$
364 earnest money within the time specified. If Buyer fails to deposit the additional earnest money within the time specified, the
365 waiver shall be deemed ineffective and this Contract shall be null and void.
366 (E) BUYER COOPERATION REQUIRED: Buyer authorizes Seller or Seller's agent to verify representations contained in
367 Paragraph 31 at any time, and Buyer agrees to cooperate in providing relevant information.
368
369 _ 32. CANCELLATION OF PRIOR REAL ESTATE CONTRACT: In the event either Party has entered
370 into a prior real estate contract, this Contract shall be subject to written cancellation of the prior contract on or before
371 ,20 . In the event the prior contract is not cancelled within the time specified,this Contract shall be
372 null and void. Notice to the purchaser under the prior contract should not be served until after Attorney Review and
373 Professional Inspections provisions of this Contract have expired,been satisfied or waived.
374
375 33. CLOSING COST CREDIT: Provided Buyer's lender permits such credit to show on the HUD-1
376 Settlement Statement, and if not, such lesser amount as the lender permits, Seller agrees to credit to Buyer
377 $ at closing.
378
379 _34. INTEREST BEARING ACCOUNT: Earnest money (with a completed W-9 and other required forms),
380 shall be held in a federally insured interest bearing account at a financial institution designated by Escrowee. All interest earned on
381 the earnest money shall accrue to the benefit of and be paid to Buyer. Buyer shall be responsible for any administrative fee(not
382 to exceed 5100)charged for setting up the account.In anticipation of Closing,the Parties direct Escrowee to close the account no
383 sooner than ten(10)Business Days prior to the anticipated Closing date.
384
385 35. VA OR FHA FINANCING:If Buyer is seeking VA or FHA financing, this provision shall be applicable:
386 Buyer may terminate this Contract if the Purchase Price set forth herein exceeds the appraised value of the Real Estate, as
387 'determined by the Veterans Administration (VA) or the Federal Housing Administration (FHA). However, Buyer shall have the
388 option of proceeding with this Contract without regard to the amount of the appraised valuation. If VA,the Funding Fee, or if FHA,
389 the Mortgage Insurance Premium (MIP) shall be paid by Buyer and[check onel ❑ shall;❑ shall not be added to the mortgage
390 loan amount Seller agrees to pay additional miscellaneous expenses required by lender not to exceed $200.00. Required FHA or
391 VA amendments shall be attached to this Contract. It is expressly agreed that notwithstanding any other provisions of this
392 Contract,Buyer shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture
393 of earnest money deposits or otherwise unless Buyer has been given, in accordance with HUD/FHA requirements, a written
394 statement by the Federal Housing Commissioner setting forth the appraised value of the property (excluding Closing costs) of not
395 less than$ _ .Buyer shall have the privilege and option of proceeding with the consummation of the
396 Contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum
397 mortgage the Department of Housing and Urban Development will insure/guarantee. HUD and the mortgagee do not warrant the
398 value nor the condition of the property. Buyer should satisfy himself/herself that the price and condition of the property are
399 acceptable.
400
401 36. INTERIM FINANCING: This Contract is contingent upon Buyer obtaining a written commitment for
402 interim financing on or before ,20 in the amount of$ .If Buyer is unable
403 to secure the interim financing commitment and gives written notice to Seller within the time specified,this Contract shall be
404 null and void.If written notice is not served within the time specified,this provision shall be deemed waived by the Parties
405 and this Contract shall remain in full force and effect.
406
407 37.WELL AND/OR SEPTIC/SANITARY INSPECTIONS: Seller shall obtain at Seller's expense a well
408 water test stating that the well delivers not less than five(5)gallons of water per minute and including a bacteria and nitrate test(and
409 lead test for FHA loans) and/or a septic report from the applicable County Health Department, a Licensed Environmental Health
410 Practitioner, or a licensed well and septic inspector, each dated not more than ninety (90)days prior to Closing,stating that the well
411 and water supply and the private sanitary system are in proper operating condition with no defects noted. Seller shall remedy any
412 defect or deficiency disclosed by said report(s)prior to Closing;provided that if the cost of remedying a defect or deficiency and the
413 cost of landscaping together exceed $3,000.00,and if the Parties cannot reach agreement regarding payment of such additional cost,
414 then this Contract may be terminated by either Party. Additional testing recommended by the report shall be obtained at Seller's
Buyer Initial j Buyer Initial Seller Initial Seller Initial
Address
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415 expense. If the report recommends additional testing after Closing, the Parties shall have the option of establishing an escrow with a
416 mutual cost allocation for necessary repairs or replacements,or either Party may terminate this Contract prior to Closing. Seller shall
417 deliver a copy of such evaluations)to Buyer not less than one(I)Business Day prior to Closing.
418
419 __ 38.WOOD DESTROYING INFESTATION: Notwithstanding the provisions of Paragraph 10, within ten
420 (I0) Business Days after the Date of Acceptance, Seller at Seller's expense shall deliver to Buyer a written report, dated not more
421 than six(6)months prior to the date of Closing,by a licensed inspector certified by the appropriate state regulatory authority in the
422 subcategory of termites, stating that there is no visible evidence of active infestation by termites or other wood destroying insects.
423 Unless otherwise agreed between the Parties, if the report discloses evidence of active infestation or structural damage, Buyer has
424 the option within five(5)Business Days of receipt of the report to proceed with the purchase or declare this Contract null and void.
425 This paragraph shall not apply to condominiums or to newly constructed property having been occupied for less than one year
426 following completion of construction.
427
428 _ 39.POST-CLOSING POSSESSION:Possession shall be delivered no later than 11:59 P.M.on the date that
429 is idays after the date of Closing ("the Possession Date"). Seller shall be responsible for all utilities, contents and liability
430 insurance, and home maintenance expenses until delivery of possession. Seller shall deposit in escrow at Closing
431 with , [choose onej ,❑ one percent (1%) of the Purchase Price or ;❑ the sum of $
432 to be paid by Escrowee as follows: a) The sum of$ per day for use and occupancy from and including the
433 day after Closing to and including the day of delivery of possession, if on or before the Possession Date; b) The amount per day
434 equal to five (5) times the daily amount set forth herein shall be paid for each day after the Possession Date specified in this
435 paragraph that Seller remains in possession of the real estate; and c) The balance, if any,to Seller after delivery of possession and
436 provided that the terms of Paragraph 22 have been satisfied. Seller's liability under this paragraph shall not be limited to the amount
437 of the possession escrow deposit referred to above. Nothing herein shall be deemed to create a Landlord/Tenant relationship
438 between the Parties.
439
440 40. "AS IS" CONDITION: This Contract is for the sale and purchase of the Real Estate and personal
441 property in its"As Is"condition as of the Date of Offer. Buyer acknowledges that no representations, warranties or guarantees with
442 respect to the condition of the Real Estate and personal property have been made by Seller or Seller's Agent other than those known
443 defects, if any, disclosed by Seller. Buyer may conduct an inspection at Buyer's expense. In that event, Seller shall make the
444 property available to Buyer's inspector at reasonable times. Buyer shall indemnify Seller and hold Seller harmless from and against
445 any loss or damage caused by the acts or negligence of Buyer or any person performing any inspection(s). In the event the
446 inspection reveals that the condition of the improvements, fixtures or personal property to be conveyed or transferred is
447 unacceptable to Buyer and Buyer so notifies Seller within five(5) Business Days after the Date of Acceptance,this Contract
448 shall be null and void. Failure of Buyer to notify Seller or to conduct said inspection operates as a waiver of Buyer's right to
449 terminate this Contract under this paragraph and this Contract shall remain in full force and effect.Buyer acknowledges the
450 provisions of Paragraph 10 and the warranty provisions of Paragraph 3 do not apply to this Contract.
451
452 41. CONFIRMATION OF DUAL AGENCY: The Parties confirm that they have previously consented to
453 _ (Licensee)acting as a Dual Agent in providing brokerage services
454 on their behalf and specifically consent to Licensee acting as a Dual Agent with regard to the transaction referred to in this Contract.
455
456 42.SPECIFIED PARTY APPROVAL: This Contract is contingent upon the approval of the Real Estate by
457 _, Buyer's specified party,
458 within five (5) Business Days after the Date of Acceptance. In the event Buyer's specified party does not approve of the Real
459 Estate and written notice is given to Seller within the time specified,this Contract shall be null and void.If written notice is
460 not served within the time specified, this provision shall be deemed waived by the Parties and this Contract shall remain in
461 full force and effect.
462
463 _/ 43. MISCELLANEOUS PROVISIONS: Buyer's and Seller's obligations are contingent upon the Parties
464 entering into a separate written agreement consistent with the terms and conditions set forth herein,and with such additional terms
465 as either Party may deem necessary,providing for one or more of the following: (check applicable bastes))
466 ❑ Assumption of Seller's Mortgage ❑ New Construction
467 ❑ Commercial/Investment/Starker Exchange ❑ Vacant Land
468 ❑ CooperativeApartment ❑ Articles of Agreement for Deed or Purchase Money Mortgage
Buyer Initial (Ds() Buyer initial Seller Initial. `Seller Initial
Address i E 4_ ck____:� SY 1, _L 4a i Lo - --- --
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469 THIS DOCUMENT WILL BECOME A LEGALLY BINDING CONTRACT \VHEN SIGNED BY ALL
470 PARTIES AND DELIVERED TO THE PARTIES OR THEIR AGENTS.
471
472 The Parties represent that text of this form has not been altered and is identical to the official Multi-Board Residential
473 Real Estateontrac 401.
474 7— O( 2010 July 14 20 10
475 pe of Offer / �'/z DATE OF ACCEPTANCE
476 ak,k tt�k,k(- -C-� rY1- eik rs<2',a.t!`P-
478 yer Signature 1 / 71 r? .-1.1_‘/ e er tgna
479 Buyer Signature G` Seller Signature
480 Habitat For_ Hu pity 9f or_thern_Fo Cit of El
481 Print Buyer(s)Name(s) [ equiredi Valley PrintSeller(s) acnes TRequired/
482 20 S. Grove Street, Suite 201 150 Dexter Court
483 Address Address
484 Carpentersville IL 60110 Elgin 60120
485 City State Zip City
931-5657 betck c@cityofelgin.org 486 847) 836-1432 (847) yofelgin.org
487 Phone E-mail Phone E-mail
488 FOR INFORMATION ONLY
489 None None
490 e ng • " ce V c Listing Office MLS#
491A N/A
492 l iiyer's Designated Agent MLS# Seller's Designated Agent MLS #
493
494 Phone Fax Phone Fax
495
496 E-mail E-mail
* Christopher J. Beck beck_c@cityofelgin.org
497 Helmut E. Gerlach
498 Buyer's Attorney E-mail Seller's Attorney E-mail
499 (847J 550-6430 (847) 931-5657
500 Phone Fax Phone Fax
501 NJA
5502
03 Mortgage Company Phone Homeowner's/Condo Association(if any) Phone
504 Loan Officer Fax Management Co./Other Contact Phone
505
506 02006, Illinois Real Estate Lawyers Association. All rights reserved. Unauthorized duplication or alteration of this form or any
507 portion thereof is prohibited. Official form available at www.reallaw.org(web site of Illinois Real Estate Lawyers Association).
508
509 Approved by the following organizations February 2006.
510 Illinois Real Estate Lawyers Association,Aurora Tri-County Association of REALTORS®,Chicago Association of REALTORS'',
511 DuPage County Bar Association,Kane County Bar Association,Lake County Bar Association,McHenry County Association of
512 REALTORS®,North Shore-Barrington Association of REALTORS®,Northwest Suburban Bar Association,Oak Park Board of
513 REALTORS®,REALTOR®Association of the Fox Valley,REALTOR®Association of the Northwest Chicagoland,REALTOR®
514 Association of West/South Suburban Chicagoland,Three Rivers Association of REALTORS®,West Towns Board of REALTORS®
515
516
517 *helmutgerlach@sbcglobal.net
518
519
520 Seller Rejection: This offer was presented to Seller on _ 20 at 1AM FM
521 and rejected on _20 _at JAMI"PM
522 (Seller initials) (Seller initials) •
523 PDF Version 4.0.2 - 5/2/06
Buyer Initial "/'�J Buyer Initial Seller Initial g' _Seller Initial
Address 1 1 .
Page 10
RIDER TO REAL ESTATE CONTRACT FOR THE SALE OF
485 EAST CHICAGO STREET,ELGIN,ILLINOIS 60120
f This Rider to the real estate contract is made and entered into this Vday of
2010, by and between the City of Elgin, Illinois, an Illinois municipal
corpora ' , (hereinafter alternatively referred to as the "Seller" and the "City") and Habitat For
Humanity of Northern Fox Valley, an Illinois not-for-profit corporation (hereinafter referred to
as the "Buyer").
WITNESSETH:
WHEREAS, the Seller is currently the owner of the property commonly known as 485
East Chicago Street, Elgin, Illinois 60120 (hereinafter referred to as the "Subject Property"); and,
WHEREAS, Seller and Buyer are concurrently with the entry into this Rider entering into
a real estate contract providing for the sale of the Subject Property from the Seller to the Buyer
(such contract is hereinafter referred to as the "Subject Contract"); and,
WHEREAS, the parties wish to set forth further agreements between them regarding the
sale of the Subject Property into the Subject Contract and incorporate this Rider into the Subject
Contract.
NOW, THEREFORE, for and in consideration of the mutual undertakings in the Subject
Contract, the undertakings in this Rider, and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. The provisions of Section 40 of the Subject Contract, entitled "`As Is' Condition,"
is and shall be included as part of the Subject Contract, it being agreed and understood that the
Subject Property is being sold and conveyed by the Seller to the Buyer in "as is" condition and
that Seller will not be making any repairs nor providing any credit for repairs to the Buyer.
2. Following the purchase of the Subject Property from the Seller, the Buyer agrees
to rehabilitate and renovate the Subject Property in accordance with the terms, conditions and
provisions of a further agreement between the parties entitled "Neighborhood Stabilization
Program Agreement between the City of Elgin and Habitat for Humanity of Northern Fox Valley
to Rehabilitate and Sell 485 East Chicago Street, Elgin, Illinois 60120" said agreement being
incorporated herein by this reference (hereinafter referred to as the "Development Agreement").
For the purpose of clarification, and without limiting the alterations and renovations provided for
or described in the Development Agreement, Buyer agrees that the renovation of the Subject
Property will include, but not be limited to, the restoration of the Subject Property to its original
use as a single-family residence.
3. Notwithstanding anything to the contrary in this agreement, it is expressly agreed
and understood by the Buyer that in performance of this contract and the rehabilitation of the
Subject Property that the Buyer shall also comply with all applicable federal, state, city and other
requirements of law.
4. The deed of conveyance conveying the Subject Property from the City to the
Buyer shall contain a provision making such conveyance subject to the terms and obligations of
the Development Agreement. The deed of conveyance conveying the Subject Property from the
City to the Buyer shall also contain deed restrictions as set forth in Section IV.F of the
Development Agreement. In the event of a default with respect to one or more of the conditions
above, and/or in the event the Buyer otherwise breaches the terms of this agreement or the
Development Agreement, which default has not been cured within thirty (30) days after receipt
of written notice of such default, the City may file suit within the Circuit Court for the Sixteenth
Judicial Circuit, Kane County, Illinois, for a determination that the conditions have been violated
and/or the Buyer has so breached this Agreement or the Development Agreement, and may then
pursue any and all available remedies at law, equity or otherwise including but not limited to
providing a judgment and terminating the Buyer's rights in and to the Subject Property and
require that conveyance back to the City of the Buyer's rights, title and/or interest in and to the
Subject Property for the original price paid by the Buyer to the City, free and clear of all rights of
the Buyer and any other person or entity.
5. Time is of the essence of this Agreement.
6. The failure by a party to enforce any provisions of this Agreement against the
other party shall not be deemed a waiver of the right to do so thereafter.
7. This Agreement is and shall be deemed and construed to be a joint and collective
work product of the City and the Buyer, and, as such, this Agreement shall not be construed
against the other party, as the otherwise purported drafter of same, by any court of competent
jurisdiction in order to resolve any inconsistency, ambiguity, vagueness or conflict, if any, in the
terms and provisions contained herein.
8. This Agreement shall be binding on the parties hereto and their respective
successors and permitted assigns. This Agreement and the obligations herein may not be
assigned without the express written consent of each of the parties hereto, which consent may be
withheld at the sole discretion of either of the parties hereto.
9. This Agreement is not intended and shall not be deemed or construed to create an
employment,joint venture, partnership or other agency relations between the parties hereto.
10. Buyer shall not encumber, sell, convey or otherwise transfer their interest in the
Subject Property prior to Buyer having completed the rehabilitation of the Subject Property and
prior to the issuance of a letter of completion and compliance by the City confirming same.
11. The City and Buyer hereby expressly agree on behalf of themselves and their
successors, assigns and grantees of the Subject Property that the non-conforming two unit use of
the Subject Property has been abandoned, is null and void and that the lawful use of the Subject
Property is and shall be as a single-family residence. Buyer and Buyer's successors and assigns
shall maintain and use the Subject Property solely and only as a lawful, conforming single-
family residential property in compliance with all applicable ordinances and requirements of law.
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12. Venue for the resolution of any disputes or the enforcement of any rights arising
out of or in connection with this Agreement shall be in the Circuit Court of Kane County,
Illinois. In no event shall the City be liable for monetary damage to the Buyer for any reason,
including, but not limited to, compensatory, consequential or incidental damages or attorney's
fees. Notwithstanding anything to the contrary in this Agreement, with the sole exception of the
grant monies the City has agreed to pay pursuant to the Development Agreement, no action shall
be commenced by the Buyer or any of its successors, assigns or grantees against the City for
monetary damages.
13. The terms of this Agreement shall be severable. In the event that any of the terms
or provisions of this agreement are deemed to be void or otherwise unenforceable for any reason,
the remainder of this agreement shall remain in full force and effect.
14. This Agreement shall not be modified or amended other than by written
agreement of the parties hereto.
15. This Rider is incorporated into and made part of the Subject Contract. In the
event of any conflict between the terms of this Rider and the terms of the Subject Contract, the
terms of this rider shall control. All the obligations of the parties under this Rider to the Subject
Contract shall be deemed remade as of the closing and shall survive the closing, and the
remedies for breach thereof shall survive the closing and shall not be merged into the closing
documents.
IN WITNESS WHEREOF, Seller and Buyer have entered into and executed this Rider to
as of the date and year first written above.
SELLER: BUYER:
CITY OF ELGIN HABITAT FOR HUMANITY OF
NORTHERN FOX VALLEY
By ZBy ,1 J\.J2 tk
Mayor
Attest: Its F)C c'o (J-c
City Clerk
F:\Legal Dept\Real Estate\NSP\485 E Chicago Street\Rider-Sale of 485 East Chicago Street to HFH.doc
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