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HomeMy WebLinkAbout21-168Resolution No. 21-168 RESOLUTION AUTHORIZING EXECUTION OF A REAL ESTATE CONTRACT FOR THE PURCHASE OF 1242 CEDAR AVENUE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN, ILLINOIS, that Richard G. Kozal, City Manager, and Kimberly A. Dewis, City Clerk, be and are hereby authorized and directed to execute a real estate contract on behalf of the City of Elgin with Gary Bohlin and Cynthia Bohlin, for the purchase of the property commonly known as 1242 Cedar Avenue, Elgin, IL 60120 for $187,500, a copy of which is attached hereto and made a part hereof by reference. s/ David J. Kaptain David J. Kaptain, Mayor Presented: November 17, 2021 Adopted: November 17, 2021 Omnibus Vote: Yeas: 9 Nays: 0 Attest: s/ Kimberly Dewis Kimberly Dewis, City Clerk 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 02/17 REALTOrr MULTI -BOARD RESIDENTIAL REAL ESTATE CONTRACT 7.0 .! 1 1. THE PARTIES: Buyer and Seller are hereinafter referred to as the "Parties." 2 Buyer Name(s) [PLEAsuPRnv7J City of Elgin, an Illinois MunlClpal Corporation 3 Seller Name(s) [PLEASE PRINT] Gary K.13ohiin and Cynthia L. Bohlin, as owners of record 4 If Dual Agency applies, check here O and complete Optional Paragraph 20, 5 2. THE REAL. ESTATE: Real Estate is defined as the property, all improvements, the fixtures and Personal Property v included thereon. Seller agrees to convey to Buyer or to Buyer's designated grantee, the Real Estate with 7 approximate lot size or acreage of aiRproximately 13,000 square feet commonly mown as: g 1242 Cedar Avenue — Elgin IL 60120 Kane 9 Address Unit # (U applicable) City State Zip County 10 Permanent Index Number(s): 06-01-370.029 13 Single Family Attached 14 Single Family Detached © Multi -Unit 11 If Designated Parking is included: # of space(s) : identified as space(s) # ; location 12 "ECK'TYPQ :! deeded space, PIN: _... _..___..... O limited common element Ci assigned space. 13 If Designated Storage Is Included: # of space(s) : identified as space(s) 0 _.. __ _.. : location 14 [CHECK ME] U deeded space, PIN: 0 limited common element CI assigned space. 16 3. FIXTURES AND PERSONAL PROPERTY AT NO ADDED VALUE: All of the fixtures and included Personal Property 16 are owned by Seller and to Seller's knowledge are in operating condition ott Date of Acceptance, unless otherwise 17 stated herein. Seller agrees to transfer to Buyer all fixtures, all heating, electrical, plumbing, and well systems 1 S together with the following items at no added value by Bill of Sale at Closing RMCK OR RWAdFRATEAppLICABLE ITEMS]: 19 _ Refrigerator _ Wine/Beverage Rehigerator X_ Light Fixtures, as they exist _ - Fireplace Gas Log(s) 20 Oven/Range/Stove — sump Pump(O. — Built-in or attached shelving _,,, Smoke Detectors 21 _ Microwave _ Water So.Etemr (unless rented) _ Ali Window'Treatments&Hardware Y Carbon Monoxide Detectors 22 _ Dishwasher � Central Air Conditioning — Satellite Dish — limsible Fence System, Collar &Box 23 — Garbage DUposal ^ Central Humidioor Wall Mounted Brackets (AVfM _ Garage Door Opener(s) 24 ,-,,,, Trash Compactor _ Central Vac & Equipment _ Security System(s) (unless rented) with all Transmitters 25 — Washer _ All Tacked Down Carpeting lnterc= System , - Outdoor Sired 26 — Dryer X _ Mstiang Storms & Screens _ Electrenic or Media Air Filter(s) _ Outdoor Playset(s) 27 _ Attached Gas Grill —Window Air Conditioner(s) , _ Backup Generator System X_,,,, Planted Vegetation 28X— Water Heater —Ceiling Fan(s) —Fireplace Screens/Doors/Grates _ Hardscape 29 Other Items Included at No Added Value: 30 Items Not Included: 3 . 33 r 34 I . 35 If Home Warranty applies, check here Q and complete Optional Paragraph 32. 36 4. PURCHASE PRICE AND PAYMENT: The Purchase Price is $ 187,500 , After the payment of Earnest 37 Money as provided below, the balance of the Purchase Price, as adjusted by prorations, shall be paid at Closing in 38 "Good Funds" as defined by law. 39 a) CREDIT AT CLOSING: [ F APPLICABLE] Provided Buyer's lender permits such credit to show on the final 40 settlement statement or lender's closing disclosure, and if not, such lesser amount as the lender pernuts, Seller 41 agrees to credit $ to Buyer at Closing to be applied to prepaid expenses, closing costs or both. 42 4 _gamestMemy sbM be heW Iseller by Buyer Initial ` Buyer Initial Initial Seller Initial .Address: 1242 Cedar Avenue, Elgin, IL 60120 _ --- v7.0 11/06/2021 10:13 5207514567 UPS STORE 3560 PAGE 03/17 46 k-OR vxYx+.f T U Seller'SDr i j Ole S' eragej 0As ethe"Y�6e"Estv +� 48 47 G) BALANCE DUE AT CLOSING, The Balance Due at Closing shall be the Purchase Price, plus or minus 48 prorations, less Earnest Money paid, less any credits at Closing, and shah be payable in Good Funds at Closing. 49 6. CLOSING: Closing shall be on December 15 , 20 21 or at such time as mutually agreed by the Parties in 5o writing. Closing shall take place at the escrow office of the title insurance company, its underwriter, or its issuing 51 agent that will issue the Owners Policy of Title Jnsurance, whidlever is situated nearest the &al Estate. 52 6, POSSESSION: Unless otherwise provided in Optional Paragraph 35, Seller shall deliver possession to Buyer at 53 Closing. Possession shall be deemed to have been delivered when Seller and all occupants (if any) have vacated 54 the Real Estate and delivered keys to the Real Estate to Buyer or to the office of the Seller's Brokerage. 55 7. FINANCING: fINITIAL ONLY ONE of TnE maoY1 we SuepARAGRAPHs a, b, or e] aett + , 6i#as Q ether + 63 . 64 , . 66 If + is timble to previde.sueh4ean approval and serves Nefiee to 60 Seller not ia4er fltwn " Leatt Ge""ftey Pate,- 016 Gentraet Shall be Wdi and Veid. 4 Buyer is tu-iftWe te rk-evide + , } in M ieree and effeet. ;6 A Party causi"S delay ift the leeft -- have, the io th4s arpmvel process shaH not r*M terntinate under ;G sOpmmgmp—b. ht the Party Le dethwe 94s 40eftk&e! iermehmaied event neither elects as speei6ed e4ove, at as 7,% othetivise ikgvee4 sh&U eanfimie in foil fatee and affeel w"ettt any loan eenlingermies. Own this Contract t r r 83 r FHA, , 84 . -VA�i5) CASH TRANSACTION WITH NO MORTGAGE: [ALL CASH] If this selection is made, Buyer will pay 85 at Closing, in the form of "Good Funds," the Balance Due at Closing. Buyer represents to Seller, as of the Date of Offer, 86 that Buyer has sufficient funds available to satisfy the provisions of this subparagraph. Buyer agrees to verify the above 87 representation upon the reasonable request of Seller and to authorize the disclosure of such financial information to 88 Seiler, Seller's attorney or Seller's broker that may be reasonably necessary to prove the availability of sufficient funds Buyer Initial 6-Buyer Initial ✓ Seller Initial Seller Initial -e6tj_ Address. 1242 Cedar Avenue, Elgin, IL 60120 ,_..._v7.0 I 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 04/17 89 to close. Buyer understands and agrees that, so long as Seller has fully cornplied with Seller's obligations under this 90 Contract, any act or omission outside of the control of Seller, whether intentional or not, that prevents Buyer from 91 satisfying the Balance Due at Closing, shall constitate a material breach of this Contract by Buyer. The parties shall 92 share the title company escrow closing fee equally. Unless otherwise provided in Paragraph 300 this Contract shall 93 not be contingent upon the sale and/or closing of Buyer's existing neat estate, 94 in the fffm ' -ei .IGood Ptiftdpr " the%Wtft Otte Glosh-�g. Buyer to at represents � as af 4ke Date of I go haa-A 09 reaA 10 8, STATUTORY DISCLOSURES: If applicable, prior to signing this Contract, Buyer: 11 [CUZCK ONE] U has 1D has not received a completed Illirtois Residential Real Property Disclosure; 12 [CHECK ONE] Q has Rl has not received the EPA Pamphlet, "Protect Your Family From Lead In Your home;" 13 [CHECK 4NE] © has W has not received a Lead Based Point Disclosure; 14 (WECK ONE] Q has 0 has not received the IENTA, "Radon Testing Guidelines for Real Estate Transactions;" 16 [CtfLcK ONr] 0 has 0 has not received the Disclosure of Information on Radon Hazards. 16 9. PRORATIONS: The requirements contained in this paragraph shall survive the Closing. Proratable items shall 17 be prorated to and including the Date of Closing and shall include without limitation, general real estate taxes, IS rents and deposits (if any) from tenants; Special Service Area or Special Assessment Area tax for the year of Closing 19 only; utilities, water and sewer, pre -purchased fuel; and Homeowner or Condominium Association fees (and 20 Master/Umbrella Association fees, if applicable). Accumulated reserves of a Homeowner/Condominium 21 Association(s) are not a proratable item. 22 a) The general real estate taxes shall be prorated to and including the date of Closing based on .105_.__ % of 23 the most recent ascertainable full year tax bill, All general real estate tax proratians shall be final as of Closing, 24 except as provided in Paragraph 23, If the amount of the most recent ascertainable full year tax bill reflects a 25 homeowner, senior citizen,, disabled veteran or other exemption, a senior freeze or senior deferral, then Seller 26 has submitted or will submit in a timely manner all necessary documentation to the appropriate governmental 27 entity, before or after Closing, to preserve said exemption(s). The proration shall not include exemptions to 28 which the Seller is not lawfully entitled. 29 b) Seller represents, if applicable, that as of Date of Acceptance Homeowner/Condominium Association(s) 30 fees are $ N/A per NIA (and, if applicable, Master/Umbrella Association fees are 31 $ NIA per NIA J. Seller agrees to pay prior to or at Closing the rernairdug balance of any 32 spedal assessments by the Associatioxi(s) confirmed prior to Date of Acceptance. Buyer initial user Initial Seller Initial Seller Initial Address: 1242 Cedar Avenue, Eigln, IL 60120 v7,� 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 05/17 33 c) Special Assessment Area or Special Service Area installments due after the year of Clos"' shall not be 34 proeatable items and shalt be paid by Buyer, unless otherwise provided by ordinance or statute. 35 10. ATTORNEY REVIEW: Within five (5) Business Days after Date of A,cceptarkce, the attorneys for the respective 36 parties, by Notice, may: 37 a) Approve this Contract; or 38 b) Disapprove this Contract; which disapproval shall riot be based solely upon the Purchase Price; or 39 c) Propose modifications to this Contract, except for the Purchase Price, which proposal shall be conclusively 40 deemed a counteroffer notwithstanding any language contained in any such proposal purporting to state the 41 proposal is not a• counteroffer. I£ after expiration of ten (10) Business Days after Date of Acceptance written 42 agreement has riot been reached by the Parties with respect to resolution of all proposed modifications, either 43 Party may terminate this Contract by serving Notice, whereupon this Contract shall be immediately deemed 44 terminated; or 46 d) Offer proposals specifically referring to this subparagraph d) which shall not be considered a counteroffer. 46 Any proposal not specifically ref'erencixig this subparagraph d) shall be deemed made pursuant to 47 subparagraph c) as a modification. If proposals made withh specific reference to this subparagraph d) are not 48 agreed upon, neither Buyer nor Seller may declare this contract null and void, and this contract shall remain 49 in full force and effect. so If Notice of disapproval or proposed modifications is not served within the time specified herein, the 51 provisions of this paragraph shall be deemed waived by the Parties and this Contract shall remain in full force 52 and effect. If Notice of termination is given, said termination shall be absolute and the Contract rendered null 53 and void upon the giving of Notice, notwithstanding any language proffered by any Party purporting to permit 54 unilateral reinstatement by withdrawal of any proposal(s). 55 11. WAIVER OF PROFESSIONAL INSPECTIONS: [ZMTIAL ZF APPLWAB,LE] _ Buyer acknowledges 56 the right to conduct inspections of the Real Estate and hereby waives the right to conduct any such inspections of 57 the heal Estate, and further agrees that the provisions of Paragraph 12 shall not apply. aS Sa 44. aerAees., heffte-, tederq etwirmment* leadambased pakaq lead based paint hazards er weed desUeyhng hise Q We5ta44eft w wvy ether "eet4era desired by BiWer in the exercise of reasenaMe due diligenee. Seller agrees to 44 r as r • Mkter , 12 ne matter the ffit to ly yy nature, 1 44 75 , Buyer I it tial �erlMnifial ° Seller Initial • � #4 Seller Initial , Address: 1242 Cedar Avenue, Elgin, IL 60120 v7_0 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 06/17 8 ' defeets disele5ed by a" �$ ' 40 ' r 81 r r r 90 in AQ1 fatee wtd effeeir • ♦ _ _ _ _ _ 01 '410.0 - OWN M__ ____ _ rI h r. a. - Au ' - ' -Hp - - - r a it iGendi&ns and Resft4etieosr 0$ r wall ift r .40 r . .44- b) Seger 4tall be respeftsNe -fee payment 4 all fepkw "uestmwftte 4w aftd je-vied prier to Geging M4 .4a . Aq- upon sale wdeseribed in the GeveprAvj im4 pret44e amme in a timely rmmerHmi '19 / Buyer Initial gayer Initial � ✓ seller Initial Seller Mitial Address: 1242 Cedar AVOnue, Elgin, IL 60120 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 07/17 2$ 24 7F���yy 1^, f V 26 f 29 , f —tijed to have jwdwd 2-0 61h i iY�i4pgetkl+y, fftd-"s G r 4 shall G 97 feree an d S a :30 1 :31 16. THE DEED: Seller shall convey or cause to be conveyed to Buyer or Buyer's designated grantee good and 32 merchantable title to the Real Estate by recordable Warranty Deed, with release of homestead rights, (or the :33 appropriate deed if title is in trust or in an estate), and with real estate transfer stamps to be paid by Seller (unless :34 otherwise designated by local ordinance). Title when conveyed will be good and merchantable, subject only to., :35 covenants, conditions and restrictions of record and building lines and easements, if any, provided they do not .36 interfere with the current use and enjoyment of the Deal Estate; and general real estate taxes not due and payable :37 at the time of Closing. .38 17. MUNICIPAL ORDINANCE, TRANSFER TAX, AND GOVERNMENTAL COMPLIANCE: .39 a) The Parties are cautioned that the Real Estate may be situated in a municipality that has adopted a pre- 40 closing inspection or disclosure requirement, murddpal Transfer Tax or other similar ordinances. Cost of :41 transfer taxes, inspection fees, and any ,repairs required by an inspection pursuant to municipal, ordinance shall .42 be paid by the Party designated in such ordinance unless otherwise agreed to by the Parties. A3 b) The Parties agree to comply with the reporting requirements of the applicable sections of the Internal :44 Revenue Code, the Foreign, Investment in Real Property Tax Act (FiRPTA), and the Real Estate Settlement AS Procedures Act of 1974, as amended. :40 18. TrrL6: At Seller's expense, Seller will deliver or cause to be delivered to Buyer or Buyer's attorney within '47 customary time limitations and sufficiently in advance of Closing, as evidence of title in Seller or Grantor, a title AB commitment for an ALTA title insurance policy in the amount of the Purchase Price with extended coverage by a :49 title company licensed to operate in the State of Illinois, issued on or subsequent to Date of Acceptance, subject .SO only to items listed in Paragraph 16 and shall cause a title policy to be issued with an effective date as of Closing. :51 The requirement to provide extended coverage shall not apply if the Deal Estate is vacant land. The commitment :52 for title insurance furnished by Seller will be presumptive evidence of good and merchantable title as therein :63 shown, subject only to the exceptions therein stated, if the tide commitment discloses any unpermittea :54 exceptions or if the Plat of Survey shows any oncToachments or other survey matters that are not acceptable to :55 Buyer, then. Seller shall have said exceptions, survey matters or encroachments removed, or have the title :56 insurer commit to either insure against loss or damage that may result from such exceptions or survey matters :57 or insure against any court -ordered removal of the encroachments. If Seller fails to have such exceptions waived :56 or insured over prior to Closing, Buyer may elect to take title as it then is with the x1ght to deduct from the Purchase :59 Price prior encumbrances of a definite or ascertainable amount. Seller shall furnish to Buyer at Closing an Affidavit .60 of Title covering the date of Closing and shall sign arty other customary forms required for issuance of an ALTA :61 Iznsurance Policy. :62 19. PLAT OF SURVEY: Not less than one (1) Business Day prior to Closing, except where the Real Estate is a :63 condominium, Seller shall, at Seller's expense, furnish to buyer. or Buyer's attorney a Plat of Survey that conforms. Buyer Initial nitial `ll Seller lnitial-_J�_ Seller Initial Addreas: 1242 Cedar Avanue Eig in IL 60120 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 08/17 :64 to the current Minimum Standard of Practice for boundary surveys, is dated not more than six (6) mouths prior to :65 the date of Closing, and is prepared by a professional land surveyor licensed to practice land surveying under the :se laws of the State of Illinois. The Plat of Survey shall show visible evidence of improvements, rights of way, :67 easements, use and measurements of all parcel lines. The land surveyor shall set monuments or witness corners at :68 all accessible corners of the land. All such corners shall also be visibly staked or flagged. The Plat of Survey shall ;69 include the following statement placed near the professional land surveyor's seal and signature: "This professional :70 service conforms to the current 1111nois Minimum Standards for a boundary survey." A Mortgage Inspection, as 71 defined, is not a boundary survey and is not acceptable. :72 20. DAMAGE TO READ ESTATE OR CONDEMNATION PRIOR TO CLOSING: If prior to delivery of the deed the Real :73 Estate shall be destroyed or materially damaged by fire or other casualty, or the Real Estate is taken by :74 condemnation, then Buyer shall have the option of either terminating this Contract (and receiving a refund of .75 Earnest Money) or accepting the Real Estate as damaged or destroyed, together with the proceeds of the .70 condemnation award or any insurance payable as a result of the destruction or damage, which gross proceeds :77 Seller agrees to assign to Buyer and deliver to Buyer at Closing. Seller shall not be obligated to repair or replace :78 damaged improvements. The provisions of the Uniform Vendor and Purchaser Msk Act of the State of Illinois shall :79 be applicable to this Contract, except as modified by this paragraph. 130 21. CONDITION OF REAL ESTATE AND INSPECTION: Seiler agrees to leave the Real Estate in broom clean condition. :81 All refuse and personal property that is not to be conveyed to Buyer shall be removed from the Real Estate at :82 Seller's expense prior to delivery of Possession. Buyer shall have the right to inspect the .Deal Estate, fixtures and :63 included Personal Property prior to Possession to verify that the Real Estate, improvements and included Personal :84 Property are in substantially the same condition as of Date of Acceptance, normal wear and tear excepted. :85 22. SELLER REPRESENTATIONS: Seller's representations contained in this paragraph shall survive the Closing. 66 Seller represents that with respect to the Real Estate, Seller has no knowledge of, nor has Seller received any written .87 notice from any association or governmental entity regarding: :88 a) zoning, building, fire or health code violations that have not been Corrected; :89 b) any pending rezoning; •90 c) boundary lone disputes; 91 d) any pending condemnation or Eminent Domain proceeding; :92 e) easements or claims of easements not shown on the public records; 23 f) arty hazardous waste oxi the Beal Estate; .94 g) real estate tax exemption(s) to which Seller is not lawfully entitled; or :96 h) any improvements to the Real Estate for which the required initial and final permits were not obtained. 96 Seller further represents that: b`�07 Invirleusl� � — -�� [CURCK ONE] 0 are Q.l are not improvements to the Real Estate which are not :98 included in full in the deter on . atiof the most recent tax assessment. v :89 (aNtiYnrsX , re [CliWX o E10 are 14 are riot improvements to the Real Estate which are eligible .00 for the home improvem nt tax exemption. ti;,01 trrvtrracs) There [cmcK ONE] U i5 14 is not an unconfirmed pending special assessment affecting m the Real Estate by any association or governmental entity payable by Buyer after the date of Closing. ''J103 UNMA&sl � The Real Estate [cxEcx oNE] O is 0 is not located within a Special Assessment Area or ,04 Special Service Area, payments for which will not be the obligation of Seller after the year in which the Closing occurs. ,05 All Seller representations shall. be deemed re -made as of Closing. if prior to Closing Seller becomes aware of ,06 matters that require modification of the representations previously made in this Paragraph 2,2, Seller shall Buyer Initial yen Initial `fSelZer Initial „ Seller initial_ Address: 1e242 Caodar Avenue, Erin, IL 60120 v7.0 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 09I17 47 promptly notify Buyer, If the matters specified in such Notice are not resolved prior to Closing, Buyer may 48 terminate this Contract by Notice to Seller and. this Contract shall be null and void. ,09 23. REAL ESTATE TAX ESCROW: In the event the Real Estate is improved, but has not beexl previously taxed for 110 the entire year as currently improved, the sum of three percent (3%) of the Purchase Price shall be deposited in •11 escrow with the tale company with the cost of the escrow to be divided equally by Buyer and Seller and paid at •12 Closing, When the exact amount of the taxes to be prorated uinder this Contract can be ascertained, the taxes shall •13 be prorated by Seller's attorney at the request of either Party and Seller's share of such tax liability after proration .14 shall be paid to Buyer from the escrow funds and the balance, if any, shall be paid to Seller. If Seller's obligation •15 after such proration exceeds the amount of the escrow funds, Seller agrees to pay such excess promptly upon ,18 demand. ,17 24. BUSINESS DAYWHOURS: Business Days are defined as Monday through Friday, excluding Federal holidays, .18 Business Fours are defined as 8 a.m. to 6 p.m. Chicago time. In the event the Closing or Loan Contingency Date ,19 described in this Contract does not fall on a Business Day, such date shall be the next Business Day, 20 25. ELECTRONIC OR DIGITAL. SIGNATURES: Facsimile or digital signatures shall be sufficient for purposes of 21 executing, negotiating, finalizing, and amending this Contract, and delivery thereof by one of the following 22 methods shall be deemed delivery of this Contract containing original signature(s). An acceptable facsimile a3 signature may be produced by scanning an original hand -signed document and transmitting same by electronic 24 means. An acceptable digital signature may be produced by use of a qualified, established electronic security .25 procedure mutually agreed upon by the Parties. Transmissions of a digitally signed copy hereof shall be by an .20 established, mutually acceptable electronic method, such as creating a PD.F ("Portable Document Format") 27 document incorporating the digital signature and sending same by electronic mail, .28 26. DIRECTION TO ESCROWEE: In every instance where this Contract shall be deemed null and void or if this 29 Contract may be terminated by either Party, the following shall be deemed incorporated: "and Earnest Money .30 refunded upon the joint written direction by the Parties to Escrowee or upon an entry of an order by a court of .31 competent jurisdiction," S2 In the event either Party has declared the Contract null and void or the transaction has failed to close as provided .33 for in this Contract and if Escrowee has not received joint written direction by the Parties or such court order, the .34 Escrowee may elect to proceed as follows. .35 a) Escrowee shall give written Notice to the Parties as provided for in this Contract at least fourteen (14) days .36 prior to the date of intended disbursement of Earnest Money indicating the manner -in which Escrowee intends 137 to disburse hi the absence of any written objection. If no written objection is received by the date indicated in .38 the Notice then Escrowee shall distribute the Earnest Money as indicated in the written Notice to the Parties. •30 IMF any Party objects in writing to the intended disbursement of Earnest Money then Earnest Money shall be 40 held until. receipt of joint written direction from all Patties or until receipt of an order of a court of competent jurisdiction. 41 b) Escrpwee may file a Suit for Interpieader and deposit any funds held into the Court for distribution after .42 resolution of the dispute between Seller and Buyer by the Court. Escrowee may retain from the funds deposited 43 with the Court the amount necessary to reimburse Escrowee for court costs and reasonable att+orney's fees 44 incurred clue to the filing of the Tnterpleader. If the amount held in escrow is inadequate to reimburse Escrowee 45 for the costs and attoarney's fees, Buyer and Seller shall jointly and severally indemnify Escrowee for additional 46 costs and fees incurred in filing the bnterpleader action. 47 27, NOTICE: Except as provided in Paragraph 30 e) 2) regarding the manner of service for "kick -out" Notices, all 48 Notices shall be ixt writing and shall be served by one Party or attorney to the tither Party or attorney. Notice to 49 any one of the multiple person Party shall be sufficient Notice to all. Notice shall be given in the following nnanner.- .50 a) By personal delivery; or Buyer Initia uyer initial 11seller Initial 4C. Seller Initw Address: 1242 Cedar Avenue, Ellin, IL 60120 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 10/17 •61 b) By mailing to the addresses recited herein on Page 13 by regular mail and by certified mail, return receipt 152 requested. Except as otherwise provided hereir, Notice served by off' ted mail'skrall be effective on fi>8 date of mailir or 53 c) By facsimile transmission. Notice shall be effective as of date and time of the transmission, provided that the ,54 Notice transmitted shall be sent on Business Days ducting Business Hours. In the event Notice is transmitted during 155 non -business hours, the effective date and time of Notice is the first hour of the next Business Day after tansnv scion; or .56 d) By e-mail transmission if an e-mail address has been furnished by the recipient Party or the recipient Party's .57 attorney to the sending Party or is shown in this Contract. Notice skull be effective as of date and time of e-mail -58 transzx►issioxi, provided than in the event a -mail Notice is transmitted during non -business hours, the effective date .59 and time of Notice is the first hour of the next Business Day after transmission. An attorney or Party may opt out .60 of future e-mail Notice by any form of Notice provided by this Contract; or .61 e) By commercial overnight delivery (e,g,, Fedpx). Such Notice shall be effective on the next Business Day •62 following deposit with the overnight delivery company. .03 f) If a Party fails to provide contact Wormation herein as required, Notice may be served upon the Party's ,04 Designated Agent in any of the mariners provided above. 165 g) The Party serving a Notice shall provide courtesy copies to the Parties' Designated Agents, Failure to provide .66 such courtesy copies shall not render Notice invalid. .67 28. PERFORMANCE: Time is of the essence of this Contract. In any action with respect to this Contract, the Parties 68 are free to pursue any legal remedies at law or inequity .69 •70 THE FOLLOWING NUMBERED PARAGRAPHS AREA PART OF THIS CONTRACT ONLY IF INITIALED BY THE PARTIES •71 (INMArs) _ - 29. CONFIRMATION OF DUAL AGENCY: The Panties confirm that they have previously .72 consented to _ [LICENSEE] acting as a Dual Agent in providing brokerage services on .73- their behalf and specifically consent to Licensee acting as a Dual Agent with regard to the transaction referred to in .74 this Contract, .715 _ .._ 30, SALE OF BUYER'S REAL ESTATE: .76 a) REPRESENTATION$ ABOUT BUYER'S REAL ESTATE: Buyer represents to Seller as follows: 177 1) Buyer owns real estate (hereinafter referred to as "Buyer's real estate") with the address of: .78 , •79 Address so 41 42 43 ,84 ,as 165 87 Ss 189 .90 91 9z 93 city state zip 2) Buyer [CHECK ONE] A has 0 has not entered into a contract to sell Buyer's real estate. If Buyer has entered into a contract to sell Buyer's real estate, that contract: a) [CNECKONE] O is ❑ is not subject to a mortgage contingency. b) [cimm ONE] o is ❑ is not subject to a real estate sale contingency. c) ['cHI:CKONE] ❑ is GI is not subject to a real estate closing contingency. 3) Buyer [CKCKONEI O has Q has not publicly listedSuyer's real estate for sale with a licensed real estate broker and in a local multiple listing service. 4) If Buyer's real estate is not publicly listed for sale with a licensed real estate broker and in a local multiple listing service, Buyer [CMCK ONE]: a) Q Shall publicly list real estate for sale with a licensed real estate broker who will place it in a local multiple listing serv7ice within five (5) Business Days after Date of Acceptance. [FOR INFORMATION ONLY] Broker: _.....� _... . Brokers Address: _ ---Phone: b) ❑ Does not intend to list said real estate for sale. Buyer Initial Uver.Initial Seller Initial Seller Initial Address: 1242 Cec! Avenue, EI9In, IL 60120 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 11/17 -94 b) CONTINGENCIES BASED UPON BALE ANDIOR CLOSING OF REAL ESTATE: ,95 1) This Contract is contingent upon Buyer having entered into a contract for the sale of Buyer's real estate that is Q6 in full force and effect as of 20 . Such contract should provide for a closing, date not •97 latex than the Closing Date set forth in this Contract. If Notice is served on or before the date set forth in this .98 subparagraph that Buyer has not procured, a contract for the sale of Buyer's real estate, this Contract shall 99 be null and void. If Notice that Buyer has not procured a contract for the sale of Buyers real estate is not •00 served on or before the close of business on the date set forth in this subparagraph, Buyer shall be deemed •01 to have waived all contingencies contained in this Paragraph 30, and this Contract shall remain in full force -02 and effect. (If this paragraph is used, then the following paragraph must be completed.) .03 2) In the event Buyer has entered into a contract for the sale of Buyer's real estate as set forth in Paragraph 30 b) ,04 1) mid that contract is in full force and effect, or has entered into a contract for the sale of Buyer's real estate .05 prior to the execution of this Cortract, this Contract is contingent upon Buyer closing the sale of Buyer's real .06 estate on or before _ _ 20 . If Notice that Bayer has not closed the sale of Buyer's real .07 estateis served before the close of business outhe next Business Day after the date set forth in the preceding .08 sentence, this Contract shall be null and void. If Notice is not served as described in the preceding sentence, .09 Buyer shall have deemed to have waived all contingencies contained in this Paragraph 30, and this Contract .10 shall remain in f6U force and effect. •11 3) If the contract for the sale of Buyer's real estate is terminated for arty reason after the date set forth in Paragraph •12 30 b)1) (or after the date of this Contract if no date is set forth in Paragraph 30 b)1)), Buyer shall, within tb ree .13 (3) Business Days of such termination, notify Seller of said termination. Unless Buyer, as part of said Notice, .14 waives all contingencies in Paragraph 30 and complies with Paragraph 30 A this Contract shall be null and -15 void as of the date of Notice. If Notice as required by this subparagraph is not served within the time .16 specified, Buyer shall be in default under the terms of this Contract. .17 c) SELLER'S RIGHT TO CONTINUE TO OFFER REAL ESTATE FOR SALE: During the time of this contingency, •18 Seller has the right to continue to show the Real Estate and offer it for sale subject to the following: .19 1) If Seller accepts another bona fide offer to purchase the Real Estate while contingencies expressed in Paragraph •20 30 b) are in effect, Seiler shall notify Buyer in writing of same. Buyer shall Cher► have hours after Seller •21 gives. such Notice to waive the contingencies set forth in Paragraph 30 b), subject to Paragraph 30 d), 22 2) Seller's Notice to Buyer (commonly referred to as a "kick -out" Notice) shall be in writing and shall be served 23 on Buyer, not Buyer's attorney or Buyer's real estate agent. Courtesy copies of such "kick -out" Notice should •24 be sent to Buyer's attorney and Buyer's real Mate agent, if knowm Failure to provide such courtesy copies .25 shall not render Notice invalid. Notice to any one of a multiple -person Buyer shall be sufficient Notice to all .2t$ Buyers. Notice for the purpose of this subparagraph only shall be served upon Buyer in the following manner: •27 a) By personal delivery effective at the time and date of personal delivery; or 28 b) By ailing to the address recited herein for Buyer by regular mail and by certified mail. Notice shall be .29 effe rive at 10 a.m, on the morning of the second day following deposit of Nonce in the U.S. Mail; or 3o c) By wmmerdal delivery overnight (e.g.,1~edEx). Notice shall be effective upon delivery or at 4 p.m. Chicago .31 time on the next delivery day following deposit with the overnlgltt delivery company, whichever first oechus. s2 3) If Buye II complies with the provisions of Paragraph 30 d) thee, this Contract shall remain in full force and effect. .33 4) If the contingencies set forth in Paragraph 30 b) are NOT waived in writing within said time period by Buyer, .34 this Contract shall be null and void. 3s 5) Except as provided in Paragraph 30 c) 2) above, all Notices shallbe made in the manner provided by Paragraph .36 27 of this Contract. .37 6) Buyer waives any ethical objection to the delivery of Notice under this paragraph by Seller's attorney or representative. Buyer .initial er Ini`tial f Seller Initial _6 AV . _ Seller Initial 93 Address: 1242 Ceder Avenue, Elgin, IL 60120 - ------_--_-. -- . v7.0 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 12/17 38 d) WAIVER OF PARAGRAPH 30 CONTINGENCtES: Buyer shall be deemed to have waived the contingencies in .39 Paragraph 30 b) when Buyer has delivered written waiver and deposited with the Escrowee additional earnest 40 money in the amount of $ in the form of a cashier's or certified check within the time specified. 4.1 If Buyer fails to deposit the additional earnest money withiA the time specified, the waiver shall be deemed 42 ineffective and this Contract shall be null and void. 43 e) BUYER COOPERATION REQUIRE: Buyer authorizes Seller or Seller's agent to verify representations 44 contained in Paragraph 30 at any time, and Buyer agrees to cooperate in providing relevant information, 45 T y. 31. CANCELLATION OF PRIOR REAL ESTATE CONTRACT: In the event either Party has entered 46 into a prior real estate contract, this Contract shall be subject to written cancellation of the prior contract on or before 47 .20 _. In the event the prior contract is not cancelled within the time specified, this Contract 48 shall be null and void. if prior contract is subject to Paragraph 30 contingencies, Selles+s notice to the purchaser 49 under the prior contract should not be served until after .Attorney Review and Professional Inspections provisions ,50 of this Contract have expired, been satisfied or waived. •61 4 32. HOME WARRANTY: Seller shall provide at no expense to Buyer a Home Warranty at a cost of 52 $ . Evidence of a fully pre -paid policy shall be delivered at Closing. 53 — — 33. WELL OR SANITARY SYSTEM INSPECTIONS: Seller shall obtain at Seller's expense a well .54 water test stating that the well delivers not less than five (5) gallons of water per minute and including a bacteria and •55 nitrate test and/or a septic report from the applicable County Health Department, a Incensed Environmental Health 56 Practitioner, or a licensed well and septic inspector, each dated not more than ninety (90) days prior to Closnn, stating •57 that the well and water supply and the private sanitary system are in operating condition with no defects noted, Seller •58 shall remedy any deflect or deficiency disclosed by said report(s) prior to Closing, provided that if the cost of •59 remedying a defect or deficiency and the cost of landscaping together exceed $3,000, and if the Parties cannot react .6o agreement regarding payment of such additional cost, this Contract may be terminated by either Party. Additional -el testing recommended by the report shall be obtained at the Seller's expense. If the report recommends additional .62 testing after Closing, the Parties shall have the option of establishing an escrow with a mutual cost allocation for •63 necessary repairs or replacements, or either Party may terminate this Contract prior to Closing. Seller shall deliver a .64 copy of such evaluation(s) to l3uyer not less than ten (10) Business Days prior to Closing. .65 _ _ _ 34. WOOD DESTROYING INFESTATION." Notwithstanding the provisions of Paragraph 12, within •66 ten (10) Business Days after Date of Acceptance, Seller at Seller's expense shall deliver to Buyer a written report, dated ,67 not more than six (6) months prior to the Date of Closing, by a licensed inspector certified by the appropriate state 58 regulatory authority in the subcategory of termites, stating that there is no visible evidence of active infestation by .69 termites or other wood destroying insects. Unless otherwise agreed between the Parties, if the report discloses •70 evidence of active infestation or structural damage, Buyer has the option within five (5) Business Days of receipt of the .71 report to proceed with the purchase or to declare this Contract null and void. •72 36. POSSESSION AFTER CLOSING: Possession shall be delivered no later than 11.59 p.m. on the •73 date that is (cuiec.K oivEl l2 days after the date of Closing or 0 20 — ("tine Possession Date"). •74 Seller shall be responsible for all utilities, contents and liability insurance, and home maintenance expenses until 75 delivery of possession►. Seller shall deposit in escrow at Closing with art escrowee as agreed, the sum of $ 78 (if left blank, two percent (2%) of the Purchase Price) and disbursed as follows: ,77 a) The sum of $ per day for use and occupancy from and including the day after Closing to 75 and including the day of delivery of Possession if on or before the Possession Date; •79 b) The amount per day equal to three (3) times the daily amount set forth herein skull be paid for each day after So the Possession Date specified in, this paragraph that Seller remains in possession of the Real Estate; and Buyer Initial �� , er Initial J Seller Initial tom. Seller Initial _ — Address,1242 Cedar Avenue, Elgin, IL 60120 v7.0 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 13/17 81 c) The balance, if any, to Seller after delivery of Possession and provided that the terms of Paragraph 21 have 82 been satisfied. Sellers liability under this paragraph shall not be limited to the amount of the possession escrow 0 deposit referred to above. Nothing herein, shall, be deemed to create a Landlord/renant relationship between the Parties. •84 . "AS IS" CONDITION: Whits Contract is for the sale and purchase of the Real Estate in its "As Is" -as condition as of the Date of Offer. Buyer acknowledges that no representations, warranties or guarantees with respect 46 to the condition of the Real Estate have been made by Seller er-Sefler's Peeigaeted Agent ether theft l -- -- - •87 . ' .Buyer may conduct at Buyer's expense such inspections as Buyer desires. In that •88 event, Seller shall make the Real. Estate available to Bayer's inspector at reasonable times. Buyer shall, indemnify Seller .89 and hold Seller harmless from and against any loss or damage caused by the acts of negligence of Buyer or any person •90 performing any inspection. In the event the inspection reveals that the condition of the Real Estate is unacceptable ,91 to Buyer and Buyer so notifies Seller within five (5) Business mays after Date of Acceptance, this Contract shall be .92 null and void, Buyer's notice SHALL NOT include a copy of the inspection report, and Buyer shall not be obligated a3 to send the inspection report to Seller absent Seller's written request for same. Failure of Buyer to notify Seller or ,94 to conduct said inspection operates as a waiver of Buyer's right to terminate this Contract under this paragraph and as this Contract shall remain in full force and effect. Buyer acknowledges that the provisions of Paragraph 12 and the 96 warranty provisions of Paragraph 3 do not apply to this Contract. Nothing in this paragraph shall prohibit the exercise .97 of rights by Buyer in Paragraph 33, if applicable. 98 37, SPECIFIED PARTY APPROVAL_ Tluis Contract is contingent upon the approval of the Real 99 Estate by - _ Buyer's Speei.£ied Party, 'within five (5) Business Days after Date 00 of Acceptance. In the event Buyer's Specifited Party does not approve of the Real Estate and Notice is given to Seller ,01 within the time specified, this Contract shall be null and void, If Notice is not served witl►in the time specified, this *2 provision shall be deerned waived by the Parties azrd this Contract shall remain in full force and effect. ✓d3 ATTACHMENTS: The following attachments, if any, are hereby incorporated into this Contract ,04 tWF.NT1ryJBX7'.Cif7L']: Rider to real estate contract for the sale of 1242 Cedar Avenue. Elg�ln, IL. 60120 gas --- — _. _ . 108 � _ 39. MISCELLANEOUS PROVISIONS: Buyer's and Seller's obligations are contingent upon the .07 Parties entering into a separate written agreement consistent with the terms and conditions set forth herein, and with ,08 such addition termsaseitherPartymay deem wKessary, providingfm one or more of the following [CF&XAPPz cAr;r r" nomj; o9 © Articles of Agreement for Deed is Assumption of Seller's Mortgage ❑ Commercial/Investment :1 o or Purchase Money Mortgage U Cooperative Apartment ❑ New Construction 41 U Short Sale © Tax -Deferred Exchange ❑ Vacant Laird ,12 O Multi -Unit (4 Units or fewer) ❑ Interest Bearing Account Q Lease Purchase Buyer Initial yer Initial VISeller Initial 60e. '0�7._ Seller Initial V118 Address:1242 Cedar Avenue, Elgin, 1L 60120 _ 0.0 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 14/17 •13 THE PARTIES ACKNOWLEDGE THAT THIS CONTRACT $HALL BE GOVERNED BY THE LAWS OF THE STATE OF IL.I INOI9 AND 13 SUBJECT TO THE -14 COVENANT OF GOOD FAITH AND FAIR DEALING IMPLIED IN ALL ILLINOIS CONTRACTS. .15 THIS DOCUMENTW W. SEOOW A LEGALLY BkkyINQ CONTRACT WHEN S ONED By ALL, PARTIES AND DELIVERED TO THE PARTIES ORTH©R ADIUM. ,16 THE PAFME$ REPRESENT THAT THE TEXT OF THIS COPYRIGHTED FORM HAS NOT BEEN ALTERED AND IS IDENTICAL To THE OFFICIAL MULTI- ,17 130ARD RESIDENTIAL REAL. ESTATE CONTRACT 74. 18 Novem 2021 ,19 Date 100, DATE O ACCE 120 •21 BuyeC S1gna chard G. Koval, City M er Seiler gri ire ,22 �tte�t: .i 23 City Clerk Seller 4gnature ,24 City of E1AIn, an Illinois Murticl al,Corporation Gary K. Bohlin anCynthia L. Bohlin, aS owners of record Q5 Print Buyer(s) Names) (xQuwD) PrintSeUex(s) Name(s) [REQtuRMI -- ,2t3 150 Dexter Court 1211 forest Drive V Address [aQWRW] Addrew [AMUMD]— ,28 EIgln, IL 60120 ....__ -- El -gin, IL $023_�. - - - •29 City, State, Zip [REQunwD] Otyr Stater 4 [REQUMED] •30 $4i•$ 1.5655 847-630.1088 gkbohliri ffyahoo.Com .31 Phone Email Phone 1 z�nail .32 ,33 NIA _ ,34 Buyex's'Brokerage a5 •30 ,37 •38 ,39 •40 •41 •42 43 ,44 45 •46 47 •48 ,49 ,50 •51 152 �53 ,54 NIA Address y -- NIA Buyer's Designated Agent NIA FOR INFORMATION ONLY MIS ti State Lkvwe 9 Sellees Brokergge MIS I State License # City - - Zip Address City zip MLS 4 State License A Seller's Designated Agent MLS ll State License A Phone Pax Phone Pax NIA U-MWI E bn2�il -William A. Coglgy cogley w@ci!yoPel}Iln.crg Douglas J. Scheiiow reaiestateQsatkatlawrydell.com Buyer's Attorney &mail, Seller's Attorney Erman 150 Dexter Court Elgin 11. 60120 1514 Orandst_and Piave, Sulta 3 Elgin IL 60123 Address City State Zip Address City State _.Zip 047_931-N69. � 1147-931.5666 847-695 2800 847-095.4647 Phone Fax phone Pax NIA NIA Mortgage Company Phone _ Homeowner's/Condo ,Association (if any) Phone NIA NIA Loan Offtmr Phone/Bax NIA Loan Officer E-mail Management Co./Other Contact- Phone NIA Management Co./Other Contact E-mail ,551 Ili- 66l?ga RAMEY. omwI,a.TrureCliattesall ofTe sbepaswtea.i►1t.agindymamtleCBuyermqueo v%Wafimthat $tisoff wras-im •56 i Seller rejection., This off& was presented to Seller an . 20 __ . _ at _:_ a m./p m. and rejected on ,571.. 20 at a'IM/p.M.[SELLERUVrMLS] ®ZQ28mittofsftlr3tateLatuyersA=014H01, All askiareserud.LLtmalforludAirtiCativnoralterationofthisformcrattyyoKfout;tgraofiepmh1'biW.OBitralfamlamdableatwtrtufrxln.v,B i59fnxbxileViffbioisPMEstate ApprtwedLyDeoauber2028: Belvidere BoardofREALTORSQ+-0k9VAmdkfiattafRFALW1tS6.Chfcr{ RarAmdallort i(3()•DuPgeCuwdyDar AwdaNpn•Hmr1WtdPVALWR60gmiafiaE•Gnatd GiutlfyBarAwlatkut-1iotit*twtA&vcWionofWLTORS®-1fl&wktRmlF.ttateLtu�yemAasac;elicit-RlittfvaRey rot Aswiatfuu gfRE4LT0,R$& - Xvre Cotrnly BarAtw dadon • Xankvket hvquois Fnrd Catudy Amciatbt pf REALT[OR93 - Mahtstrctt Orr)iix ttfart of BIALTORSE • McHetry Cgtnety BarAsmchttlaE - A2 NeAft Shore-BarrGighpt Awqvei Pt of PXA.LTORS® • Nurtk Suburbatt Bar A md4fiott • NorNtimt Stdtu tvttt Bar A*adaNuu • oak AtrkAttae Amaddiwt of REALTORM • REALTORO A=icfahort of ;63 tke Far V bllkV, itm, • Ttn'ae Rivers AMcfalfutt of RMTOAS • wdl Couttty Bar A&Wdatiott - Andress: 1242 Cedar Avenue, t itb IL 60120 717.0 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 15/17 RMER TO REAL ESTATE CONTRACT 1F'OR TIM SALE OF 12 GERAR, EIS IN0I5 20.' This hider to the real estate contract is made and entered into by and between and the City of Elgin, Illinois, a municipal corporation (hereinafter refezxed to as the "Buyer,) and Gaxy K. Bohlin and Cynthia L. Bolxlin (hereinafter referred to as the "Sellers"); and WHEREAS,. Buyer and Sellers are concurrently with the entry into this Rider entering into a zeal estate contract providing for the sale of 1242 Cedar Avenue, Tlgin, Illinois 60120 from Sellers to Buyer (such property and all improvements tbiereon is hereinafter referred to as the "Real Estate" and such contract is hereinafter referred to as the "Subject Contract"); and WHEREAS, the ;parties wish to set forth their further agreements between them regarding the sale of the Real Estate 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 is hereby acknowledged, the parties hereto agree as follows: 1, TIM Section 12 of the Subject Contract entitled "PROFESSIONAL INSPECTIONS AND INSPECTION NOTICES" be and is hereby amended to read as follows: "Inspections: Buyer may inspect the. Real Estate and the improvements thereon at its expense. Such inspections by the Buyer will be a performed by employee(s) of the City of Elgin to detern-4aa wbether the condition of the Real Estate is acceptable to the Buyer to coruplote the purchase of the Real Estate. One of the Sellers or a representative of Sellers mast be present during the inspection, the inspection will be perforrnW by one City employee plus the City's Chief Development Officer, and the inspection will not take place until after approval of the Subject Contract by the city council of the City. In the event the Buyer deterrrxines that the condition of the Real Estate is not acceptable to the Buyer, Buyer shall serve written notice upon Seller or Seller's attorney within five (5) business days after the date of ameptance and then. this Contract shall be null and void. If written notice is not served within the time specified, this provision shall be deemed waived by the parties and this Contract shall remain in full force And effect. The Buyer agrees not use the results of any such inspection(s) as a basis for citing code violations on the Real Estate." 2. That Section 16 of the Subject Contract autitled 'ME DEED" be and is hereby amended by adding the following additioAal text to the end thereof, "and so long as they do not interfere with the Buyer's intended use and enjoyment of the Real Estate as a public park and public open, space. Seller's conveyance to the Buyer of the Real Estate shall Also include all of Sellers' rights, title and interest to any easements benefiting the Real Estate, including, but not limited to, roadway or other access easements, and to any and all rights of access to the Real Estate." 3. That notwithstanding anything in the, Subject Contract, the Buyer agrees to and shall pay the costs for the title commitment, survey fee and title company fee. 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 16/17 4. That Section 27 of the Subject Contract entitled "NOTICE" be and is hereby amended by adding the following additional text to the end themf: "All notices to the Buyer shall be directed to its attorney as follows. William A. Cogley, Corporation Counsel City of Elgin 150 Dexter Court, Elgin, Illinois 60120 (847) 931-5665 (facsimile) cogley_w0cityofelgin.org (email)" 5. That the provisions of Section 36 of the Subject Contract entitled "'A.$ IS, CONDITION" are and shall be included as part of the Subject Contract it being agreed and understood that the Real Estate is being sold by the Seller's to the Buyer in "as is" condition. 6. Sellers represm and warrant to Buyer as follows: (a) Seller is not a "foreign person" within the meaning of Section 1445 of the Internal Revenue Code. At closing, Seller shall deliver to Purchaser a certificate of non - foreign status. (b) There are no existing leases affecting the Real, Estate, (c) There are no existing contracts or options to purchase the Real Estate. (d) There exists no management agreement, exclusive brokerage agreement or service. agreement of any kind relative to the Real Estate that will continue in force beyond the closing date. (e) As of the Closing Date, the Real Estate will be vacant and unoccupied. (f) To the best of Seller's knowledge, there are no underground storage tanks on, the Real Estate. (8) To the best of Seller's knowledge, neither the improvements on the Real Estate nor the Real Estate contain any firiablo asbestos and no polychlorinated biphen,yls (PCBs) are located in, on or under the Real Estate (including, without limitation, in, on or under any equipment located thereon). (h) To the best of Seller's knowledge, no hazardous materials or substances have been located on the Real Estate or have been released into the enviroament, or discharged, placed or disposed of, at or tinder the Real Estate. (1) To the best of Seller's laxowledge, the Real Estate has never Won used as a dump for waste material. 7. Time is of the essence of this Contract. -2, 11/05/2021 10:13 5207514567 UPS STORE 3560 PAGE 17/17 8. This Rider and the Subject Contract are irk and shall be deemed and construed to be a joint and collective work product of the Buyer and the Sellers, and, as sucks, this Rider and the Subject Contract shall not be construed against the other party, as the otherwise purported drafter of same by any court of competent jurisdiction or to resolve any inconsistency, ambiguity, vagueness or conflict, if any, in the terms and provisions contained herein. 9. Venue for the resolution of any disputes or the enforcement of any rights arising out of or in connection with this contract shall be in the Circuit Court of Kane County, lllinois. 10. This Rider and the Subject Contract of which it is a part: shall not be modified or amended other than by written agreement signed by the parties hereto. 11. Za consideration of the mutual undertakings of the parties hereto, the parties agree that upon the closing of the sale of the Real Estate froth. the Sellers to the Buyer, that the Sellers and Buyers agree to and do hereby pursuant to these provisions for themselves, their heirs, distributees, next of kin, dependents, personal representatives, executors, administrators, successors aad assigns, and all other related persons or entities, to the full extent perrwtted by law, lad with the sole exception. of Sellers' warranty of tide to the Real Estate and the personal property being conveyed to the Buyer, waive and release each anotiwr, and their respective Officials, officers, employees, agents, and attorneys, from and against all claims, causes of actions, judgments, lawsuits, cause, attorneys fees, damages, or other liability, relief whatsoever, arising out or in connection with the Real Estate, whether Imown, unknown, foreseeable or unforeseeable. The terms of this waiver and lease are contractual and not merely re.citable. The Provisions of this paragraph shall survive the closing of the sale of the Real Estate from the Sellers to the Buyer and the recording of the deed. 12. This Rider is incorporated into and made part of the Subject Contract, In the evert of any conflict between the terms of this Rider and the terms of the Subject Contract, the terms of this Rider shall control. IN WITNESS WIFREOF, Sellers and Buyer have entered into and executed this Rider to as of the dates entered below their signatures. BUYER: CITY OF ELGIN LP=%"q= - - W-MM, d om-4 . M u 2 mw V, 6 P26 -�2 "pop SELLERS: J 40 DATED: November 17 ' 2421 DATED. F:\Legal DCPAReall at@M\Wder-1242Cedar A,ve-Bohlin-10-27-21.docx Gar f K. Boh1fn G� Cynthia L. Bohlin 1[^05 2021 -3-