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HomeMy WebLinkAboutCommitments u u COMMITMENTS CONCERNING THE USE AND DEVELOPMENT OF REAL ESTATE ,. The undersigned, Boomerang Development, LLC, (hereafter "Owner") Purchaser of the following described real estate located in Hamilton County, Indi- "Real Estate"), makes the following Commitments Concerning the Use and De , Real Estate to the CarmeVClay Plan Commission ("Commission"). 1. Description of Real Estate. See Exhibit "A" hereto. ("Real Estate"). 2. Docket # 119-01PP 3. Statement of Commitments. A. Owner commits to construct roadway improvements to the parts of West 131 st Street and Shelboume Road adjacent to the Real Estate to provide either of the following at its discretion: 1. a 1f2 roadway (including existing pavement) of two (2) 12 foot lanes with curb and gutter ("Ordinance Improvements") or 2. a 1f2 roadway with an addition of three (3) feet of pavement and three (3) foot stone shoulder to the existing pavement ("Required Improvements"), together with other roadway improvements determined by the Department of Community Services, Carmel, Indiana ("DOCS"), (Other Roadway Improvements) or at the option of Owner in lieu of the Other Roadway Improvements a cash contribution payable to the City of Carmel, Indiana, in an amount determined by DOCS, but not to exceed the difference between the costs of the Ordinance Improvements and the costs of the Required Improvements. The cash contribution, if elected by Owner, shall be paid at the time of the approval of a Secondary Plat for a Section(s) in an amount equal to the total cash contribution divided by 258 times the number of lots shown on the Secondary Plat for which approval was received. The roadway improvements provided for and contemplated by these commitments require and are subject to the approval of the Hamilton County Highway Department/Hamilton County Commissioners. The Other Roadway Improvements shall be within a one mile radius of the perimeter boundaries of the Real Estate, if made. 4. Binding on Successors and Assigns. These commitments are binding on the Owner of the Real Estate, each subsequent Owner of the Real Estate, and each other person acquiring an interest in the Real Estate from Owner. These commitments may be modified or terminated only by a decision of the Commission made at a public hearing after notice as provided by the rules of the Commission. The foregoing notwithstanding, these commitments shall terminate 1 /j .. u u ... upon the recordation of a Secondary Plat as to the partes) of the Real Estate described therein. 5. Effective Date. These commitments contained herein shall be effective upon "the approval by the Commission of the Primary Plat filed under Docket # 119-01PP" (Primary Plat) and the approval of a Secondary Plat for all or part of the Real Estate, pursuant to the Primary Plat. ("Effective Date"). 6. Recording. The undersigned hereby authorizes the Secretary of the Commission or the Director of the Department of Community Services to record these commitments in the Office of the Recorder of Hamilton County, Indiana, following the Effective Date. 7. Enforcement. These commitments may be enforced by the Commission and City of Carmel, Indiana. Executed this 12th day of December, 2001. BOOMERANG DEVELOPMENT, LLC. By: ~ . Corby Thom~n, Managing Member .-/ STATE OF INDIANA ) IA A - )SS: COUNTY OF IVtCVlOl'\ ) Subscribed and sworn to before me, a Member Notary Public, in and for said County and State, appeared Corby Thompson, the Managing Member of Boomerang Development, LLC, and acknowledged the execution of the foregoing Commitments Concerning the Use and Development of Real Estate. WITNESS my hand and Notarial Seal this 12th day of December, 2001. ~ V, Residing in County My Commission Expires: This Document Prepared By: James 1. Nelson NELSON & FRANKENBERGER 3021 East 98th Street, Suite 220 Indianapolis IN 46280 H:\KELL Y\JIM N\COMMITMENTS.DOC 2 u u The Northeast Quarter of Section JO. TOWIIsh; 18 North, Range 3 East togeth. with the West Half of the North Half of the Southeast QuCl'ter of Section JO. Townsh9 18 North, Range 3 East, in Qay Townsh" Hanitan County. Indiana. beiIg more particulo1y descrHt as follows: BEGINNING at a P.K. naI IIIGrImg the Ncrtheast Comer of the said Northeast Quarter Sectial; thence South 00 decJ'ees 25 milutes J4 seconds West (ASSIIned = along the East LIIe of the said Northeast ~er Section a cistance of feet to the Southeast Carner of the said Northeast Quarter Section; thence South 89 dl9- 18 miwtes 18 seconds lest along the South Lbt of the · said Northeast Quarter Section a clstance of 131124 feet to Northeast Carner of . the West Half of the North Half of the said Southeast Quarter Section; thence South 00 clecJees 29 minutes 09 secand8 East c8tg the East Lilt of the West . Half of the North Half 01 the said Southeast Quarter Section a clstance of 131J.8t feet to the Southeast Carner of the West Half of the North Half of the said Southeast Quarter Section; thence South 89 degrees 20 milutes 29 seconds West :: along the South LN of the ... Half of the North Half of the said Southeast . Quarter Sectian 0 distance of 1312.25 feet to the Southwest Celmer of the West Half of the North Half of the said Southeast Quarter Section; thence North 00 dt9- 29 mnates 07 seconds West ~ the ... Lilt of the said Southeast Quarter Sectian a distance of 1312.98 feet to the Southwest Celmer of the sail Northeast Quarter Sectiani thence North 00 degrees 26 mllates J6 aeconcIs West ; along the West lite of the said Northeast (brier Section 0 clstCllCt of 2642.46 feet to the Northwest Carner of the said Northeast Quart.. Section; thence North 89 "'ees 27 _tes J8 S8CCIIICIs East aIang the North lilt of the said Northeast Quarter Section a distCllCt of 2625:24 feet to the BEQNNNG PaNT, CCII'Itailitg 198.58 acres, more or less. .--- EXHIBIT i ~"