Legal Copy of Deed
FRONT OF DEED
THIS
LINCOLN FAMILY FARM PROPERTY DEED (this “Deed”) is made effective as of the
____ day of ____________, 20__ (the “Effective Date”), by and between FRIENDS
OF THE ABRAHAM LINCOLN HISTORICAL FARM LLC, a limited liability company duly
organized and existing under and by virtue of the laws of the State of Illinois
(collectively with its successors and assigns, the “Grantor”), and
__________________________________,
an individual residing in the State of _______________ (“Grantee”).
W I T N E S S E T H:
THAT, for and in consideration of the sum of One and No/100 Dollars ($1.00) in hand paid and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Grantor does hereby grant, bargain, sell, alien, remise, release, confirm, transfer and convey unto Grantee FOR LIFE a 1 / 14,198,352nd UNDIVIDED TENANT-IN-COMMON LIFE ESTATE INTEREST, which (were it not undivided) would be approximately equivalent to a penny-size portion, in and of that certain real property located in the County of Coles in the State of Illinois and more particularly described as follows:
Lot 1 of Abraham Lincoln Memorial Farm Plat, according to the plat thereof recorded January 21, 1976 in Plat Book 5 at Page 21 in the Office of the County Clerk and Recorder of Deeds of Coles County, Illinois (the “Estate”),
Said
plat being and describing a portion of the land purchased by Abraham Lincoln on
October 25, 1841 from Thomas and Sara Bush Lincoln, his father and stepmother,
respectively.
This
Deed is subject to the Restrictions, Limitations, Disclaimers and Waivers set
forth on the reverse side hereof, which constitute a part of this Deed and are
hereby incorporated herein by reference. The validity, construction, interpretation and effect of this conveyance
shall be determined and governed by the laws of the State of Illinois.
This
Deed is made, executed and delivered in pursuance of a resolution duly adopted by
Grantor on the ____ day of ________, 2008.
IN WITNESS WHEREOF, Grantor has caused its name to be signed to these presents by the signature of its President and attested by the signature of its Secretary as of the date first set forth above.
FRIENDS
OF THE ABRAHAM LINCOLN HISTORICAL FARM LLC, an Illinois limited liability
company
By:
Daniel J. Arnold, President
Attest:
David J. Saporta, Secretary
TAX PARCEL IDENTIFICATION NUMBERS: [11-0-01589-000,] 11-0-01591-000, 11-0-01593-000
STREET ADDRESS: 14810 E County Road 030N, Lerna,
Illinois 62440
THIS INSTRUMENT PREPARED BY: AFTER
RECORDATION RETURN TO (insert Grantee’s
address):
Katten Muchin Rosenman LLP
525 West Monroe Street
Suite 1900
Chicago, Illinois 60661-3693
This
conveyance is exempt from real estate transfer tax under Section 31-45(e) of
the Real Estate Transfer Tax Law (35 ILCS 200/31-45(e)), in that the actual
consideration for said conveyance is less than $100.00.
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BACK OF DEED
RESTRICTIONS, LIMITATIONS, DISCLAIMERS
AND WAIVERS
All that is being conveyed by this Deed
is bare legal title to an undivided tenant-in-common life estate interest in
the Estate that (were it not undivided) would be approximately equivalent to the
size of a penny. There are no other
rights being conveyed by this Deed. This conveyance is limited to a life estate in Grantee and will expire,
terminate and revert to Grantor (or its successors or assigns, as applicable)
upon the death of Grantee.
Specifically,
in furtherance of the foregoing, Grantee hereby acknowledges, recognizes, covenants
and agrees, as further consideration for this conveyance, as follows:
1. Grantee shall not enter upon
or possess the Estate, or any portion thereof (the Estate, or any portion
thereof, is hereinafter referred to as the “Land”), without Grantor’s prior
written consent. If Grantor
permits Grantee to enter upon the Estate then Grantee shall strictly comply
with Grantor’s then current rules and regulations applicable to the Land. No improvement shall be built or
erected upon the Land by Grantee, either of a permanent or temporary nature;
however, Grantor may build or erect any improvements on the Land as Grantor
deems desirable, without Grantee’s consent, in Grantor’s sole and absolute
discretion. Grantor hereby
reserves easements for ingress and egress over the Land in favor of Grantor and
its successors, assigns, agents, invitees, licensees and designees. Grantee shall at all times observe any
and all local laws and ordinances applicable to the Land. Grantee shall not directly or
indirectly cause to exist or participate in the creation or existence of any
nuisance, either public or private, on the Land. If all or any portion of the Land shall be sold, taken or
conveyed in any way whatsoever as the result of any condemnation or eminent
domain proceedings, the proceeds received therefrom shall be paid forthwith to
Grantor, and Grantee hereby waives and disclaims any interest it may have in
such proceeds. Grantee shall not,
and hereby expressly waives his or her right to, (i) have the Land partitioned,
(ii) extract or claim ownership of any and all minerals and oil deposits found or
existing on the Land, and the same are expressly excepted from the property
conveyed hereby, (iii) mortgage, hypothecate or otherwise encumber Grantee’s
interest in the Land, (iv) sell, assign or transfer for a profit Grantee’s
interest in the Land or (v) sell, assign or transfer, without a profit, less
than all of Grantee’s interest in the Land. In no event shall this Deed be sold by any person to any
person for consideration equal to or in excess of $100.00. Any mortgage, hypothecation,
encumbrance, sale, assignment or other transfer of any kind by Grantee in
violation of the terms of this paragraph shall be null and void. This conveyance is made subject to all
existing and future easements, rights-of-way, restrictions and other
encumbrances upon or with respect to the Land. GRANTEE WILL NOT PARTICIPATE IN, WILL NOT BE ENTITLED TO,
AND WILL NOT HAVE ANY RIGHT IN OR TO, ANY RENTS, PROFITS, INCOME OR OTHER
FINANCIAL BENEFITS DERIVED FROM THE USE OR DISPOSITION OF THE LAND.
2. Any
and all costs and expenses necessary to effect the title granted by this Deed
in Grantee hereafter shall be borne by Grantee. Grantee hereby expressly waives the presentment of a title
opinion or title policy from Grantor. Grantee acknowledges and agrees that Grantor shall have no liability
whatsoever for any imperfection in the title to the Land or for any breach of
warranty, if any, contained herein, and, in any event, the total liability on
the part of Grantor with respect to this Deed is and shall be no greater than
the actual consideration received by Grantor for this Deed. Grantor and Grantee expressly disclaim
any intention to create a partnership, corporation, limited liability company,
joint venture or other association or entity, and nothing in this Deed shall
make either party hereto a partner, member or agent of the other party hereto.
3. (i) The conveyance
contemplated hereby was not offered by Grantor, nor was such conveyance
accepted by Grantee, as an investment or a security; (ii) the interest in the
Land conveyed hereby has no investment value, speculative, commercial or
otherwise; (iii) Grantor and Grantee will not be engaged in a common enterprise
but will merely engage in a single, isolated transaction, and Grantor will have
no further financial relationship with Grantee thereafter; (iv) Grantee is not
expecting, and is not relying on Grantor whatsoever to provide, any capital
appreciation or participation in earnings; and (v) this Deed has been issued
for novelty purposes only and not as an investment.
4. The conveyance contemplated
by the Deed is excluded from the provisions of the Federal Land Sales Act.
5. Grantor agrees to pay or cause to be paid all taxes and assessments which may be levied hereafter upon the Land, and Grantee hereby disclaims any right to, and shall not, pay any such taxes or assessments with respect to the Land. Tax bills shall be sent to Grantor at 1620 Colonial Parkway, Inverness, IL 60067.
6. Grantor shall not be obligated or required to take any action that may be necessary to effectuate the recordation or registration of this Deed with any state or local authorities.
7. Any provisions, terms, restrictions or conditions contained in this Deed that are prohibited by law shall be ineffective to the extent of such prohibition without invalidating the remaining provisions of this Deed.
8. The purchaser of this Deed is
hereby authorized as agent of Grantor for the sole and limited purpose of
effectuating the conveyance of the interest being conveyed hereby to insert as
Grantee in this Deed his or her name or the name of an individual nominee, but
only such nominee who is living as of the Effective Date. Any attempted conveyance of the
interest being conveyed hereby to a person who is not living as of the
Effective Date shall be null and void.
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