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HomeMy WebLinkAboutIllinois Street - Settlement Virtu Meridian AssociatesCI JAMES 13RAINARD, MAYOR UNIFORM PROPERTY AND EASEMENT ACQUISITION OFFER Virtu Meridian Associates, LLC 5973 Avenida Eitcinas Suite 220 Carlsbad, CA 92008 Virtu Meridian Associates, LLC c/o l- Iokanson Companies, Inc. 201 West 103rd Street Suite 400 Indianapolis, IN '46290 DATE: January 4, 2013 PROJECT: Illinois Street Extension Project 10 -10 PARCEL: 1, 1A, 1B, and IC FEE SIMPLE PARTIAL 1.475 acres TEMPORARY EASEMENTS: 0.075 acre The CITY OF CARMEL, INDIANA is authorized by Indiana law to obtain your property and an easement across your property for certain public purposes. The City of Carmel needs your property and an easement across your property for a public improvement entitled Illinois Street Extension Project 10 -10 and needs to take the land described on the attached land plats and legal descriptions. See Exhibit A (Parcel 1), Exhibit A (Parcel 1B), Exhibit A (Parcel IC), Exhibit A (Parcel IC), and Exhibit B It is our opinion that the fair market value of the property and the easement we want to acquire from you is $663,200.00 and, therefore, we offer you,$663,200.00 for the above-described property. You have thirty (30) days from this date to accept or reject this offer. If you accept this offer, you may expect payment in full within ninety (90) days after signing the documents accepting this offer and executing the appropriate instruments, and provided there are no difficulties in clearing liens or other problems with title to land. Possession will he required thirty (30) days after you have received your payment in full. DEPARTMENT OF ENGINEERING ONE CIvIC SQeare, CARMEL, IN 16032 OFFICE 317571.2411 F:ux 317.571.2439 EMAIL en;;ineebnf! ©curmcl.insov HERE IS A BRIEF SUMMARY OF YOUR OPTIONS AND LEGALLY PROTECTED RIGHTS: 1 By law, the City of Carmcl is required to make a good faith effort to purchase your property and an easement across your property. 2. You do not have to accept this offer and the City of Carmel is not required to agree to your demands. 3. However, if you do not accept this offer, and we cannot come to an agreement on the acquisition of your Property and an easement, the City of Carmel has the right to file suit to condemn and acquire the property and easement in the county in which the real estate is located. 4. You have the right.to seek advice of an attorney, real estate appraiser, or any other person of your choice on this matter. 5. You may object to the public put-pose and necessity of this project. 6. If the City of Carmel_ files a suit to condemn and acquire your property and an easement, and the court grants its request to condemn, the court will then appoint three appraisers who will make an independent appraisal of the property and easement to be acquired. • 7. If we both agree with the court appraisers' report, then the matter is settled. However, if either of us disagrees with the appraisers' report to the court, either of us has the right to ask for a trial to decide what should be paid to you for the property and easement condemned. 8. If the court appraisers' report is not accepted by either of us, then the City of Carmel has the legal option of depositing the: amount of the court appraisers' evaluation with the court. And if such a deposit is made with the court, the City of Cannel is legally entitled to immediate possession of the property and easement. You may, subject to the approval of the court, make withdrawals from the amount deposited with the court. Your withdrawal will in no way affect the proceedings of your case in court, except that, if final judgment awarded, is less than the withdrawal you have made from the amount deposited, you will be required to pay back to the court the amount of the withdrawal in excess of the amount of the final judgment. 9 The trial will decide the full amount of damages you are to receive. Both of us will be entitled to present legal evidence supporting our opinions of the value of the property. The court's decision may he more or less than this offer. You may employ, at your cost, appraisers and attorneys to represent you at this time or at any time during the course of the proceeding described in this notice. 10. If you have any questions concerning this matter, you may contact Associated Right of Way Services at 1311 N. Arlington Avenue, Suite 209, Indianapolis, Indiana, 46219, or telephone 322 -0489. • This offer was made to the owner, Virtu Meridian Associates, LLC, of San Diego County, California, on the day of , 2013. Allen D. McFearin Acquisition Specialist Agent, City of Cannel, Indiana Offer made by certified maid 7008 1830 0002 6834 6293 7008 1830 0002 6834 6309 (Hokanson) If you decide to accept this 'offer of $663,200.00, sign your name below and mail this form to the address indicated above. An additional copy of this offer has been provided for your file. ACCEPTANCE OF OFFER Virtu Meridian Associates, LLC, landowner of the above- described property or interest in property, hereby accepts the offer of $663,200.00 made by the City of Carmel on this day of , 2013. 13Y: Signature • Printed Title NOTARY'S CERTIFICATE STATE OF )SS: COUNTY OF Subscribed and sworn to before me this day of , 2013 My commission expires: County of residence: Signature Printed Associated Right -of -Way Services, Inc. To: ADMINISTRATIVE SETTLEMENT MEMORANDUM Stephen C. Engelking Director Department of Administration From: Allen D. McFearin Associated Right of Way Services, Inc. Re: Request for Administrative Settlement Project: Illinois Street Extension Parcel: 1, IA, 1B, and IC Landowner: Virtu Meridian Associates, LLC The City of Carmel, Indiana (the "City ") made the Uniform Property and Easement Acquisition Offer (the "Uniform Offer ") to Virtu Meridian Associates, LLC by certified mail on January 15, 2013. The Uniform Offer was made under the threat of eminent domain. The amount of the Uniform Offer was $663,200.00 for the fee simple acquisition of 1.475 acres and a temporary easement of 0.075 acres. The negotiations on behalf of the landowner were conducted by Mr. Will Fleming. During the negotiations, Mr. Fleming stated that he believed the Uniform Offer was low and that it did not reflect the actual value of the property being acquired. As a result, Mr. Fleming submitted a counter proposal in the amount of $71.6,850.00. After consideration, the City declined to accept the counter proposal and stood by the Uniform Offer. The landowner indicated that they would accept the Uniform Offer and the landowner has executed a Right of Entry to allow the project to proceed while the releases are being obtained. The property being acquired is encumbered by a mortgage and by an assignment of leases and rents. A partial release of both encumbrances are required. Usually, the expense of acquiring these releases are borne by the City with the City paying any processing, review or legal fees. To the mortgage company. Because of the complexity of the financing arrangement, the landowner is obtaining these releases and requires to be reimbursed for the payment of any processing, review, or legal fees. The landowner has presented an estimate of the total fees they will pay to obtain these releases. These include a consent fee to the special servicer, LNR, of $10,000.00 and an estimated $14,000.00 is other processing, review, and legal fees. An additional amount not to exceed of $24,000.00 would he paid to the landowner as reimbursement for these expenses as part of an administrative settlement. The total cost not to exceed of the administrative settlement would be $687.200.00. In support of the administrative settlement we list the following: 6919 East 10t Street, Suite E -2 * Indianapolis. Indiana 46219 * (317) 322 -0489 * FAX: (317) 322 -0589 First, the cost of obtaining the partial releases is normally an expense paid by the City directly to the mortgage company. In this instance, that amount is being paid to the landowner in order to reimburse them for incurring those expenses. There is no net increase in payments by the City. Secondly, in the event this parcel proceeded to condemnation, the landowner could introduce land values to support its initial position that the Uniform Offer was low. This carries the possibility that the eventual award would be higher than the amount of the Uniform Offer and the City would have the additional costs of that litigation. Assuming all other legal review and approvals are obtained, it is our recommendation that the City approve the above described administrative settlement. This recommendation is approved. Stephen C. Engelking Director Ryan Perry From: Allen McFearin <amcfearin @arows.biz> Sent: Tuesday, August 12, 2014 3:10 PM To: Ryan Perry Subject: FW: Carmel Attachments: $5,000 Bilzin .pdf; $10,000 Consent Fee LNR Wire FMB.pdf; Bilzin Invoice $1,750 July 2014.pdf; Taft Invoice $778.pdf; Densborn Blachly Invoice $2,486.50.pdf; Wells Fargo $5,000 Legal Retainer.pdf From: WiII Fleming [ mailto: wflerninq@virtuinvestments.com] Sent: Tuesday, August 12, 2014 2:30 PM To: Allen Subject: FW: Carmel Allen, To date our legal and consent fees costs total $25,014.50 as follows: Blizin et al $6,750 ($5,000 and $1,750 payments). Wells Fargo $5,000 LNR Consent Fee $10,000 Taft Legal review $778 Densborn Blachly Legal $2,486.50 Enclosed are the invoices /evidence of payment. Will From: Will Fleming Sent: Thursday, July 24, 2014 3:56 PM To: 'AI{en McFearin' Subject: FW: Carmel Allen, Enclosed are the executed documents. I'll follow up later with the evidence of expenditures for our $24,000 of transaction costs. As soon as I can get you the releases from LNR, you can wire the $663,200 to them. Enclosed are their wire instructions: Wiring Instructions for the Net Proceeds from the City: Wells Fargo Bank, N.A ABA# 121000248 Account #5077594011216 Account Name: Wells Fargo Commercial Mortgage- Servicing Ref: Loan#, Virtu Meridian Associates / Loan # M368101207 / MLCFC 2007 -7 Will 1 From: Scott McWhorter Sent: Thursday, July 24, 2014 3:25 PM To: Ritesh Patel Cc: Will Fleming; Steve Costas Subject: RE: Carmel All, Attached are signed forms of all does. Will, originals are on your desk. Scott McWhorter 80 East Sir Francis Drake Blvd. Suite 28 Larkspur, CA 94939 (t) 415- 398 -3959 (c) 831 -917 -2311 (e) scott @virtuinvestments.com From: Ritesh Patel Sent: Thursday, July 24, 2014 3:21 PM To: Scott McWhorter Cc: Will Fleming; Steve Costas Subject: RE: Carmel Scott — can you make sure you send us a scanned copy —so we can keep it with our files — for the eventual sale and or refl. Thanks, ritesh From: Scott McWhorter Sent: Thursday, July 24, 2014 1:05 PM To: Will Fleming; Mike Green; Ritesh Patel; David Carroll; Steve Costas Subject: RE: Carmel VII leave them on your desk? Also on the reimbursement claim voucher, I assume 1 sign in the first spot after the dollar amount? Scott McWhorter 80 East Sir Francis Drake Blvd. Suite 2B Larkspur, CA 94939 (t) 415- 398 -3959 (c) 831-917-2311 (e) scott @virtuinvestments.com From: Will Fleming Sent: Thursday, July 24, 2014 12:01 PM To: Mike Green; Scott McWhorter; Ritesh Patel; David Carroll; Steve Costas Subject: FW: Carmel 2 Here are the other 5 documents in addition to the Temporary Easement and Acceptance of Administrative Settlement for the City of Carmel that you can go ahead and sign. I am still waiting for the Lender's final documents. Again, please send to me and I'll forward to the City of Carmel. From: Allen McFearin [mailto:amcfearinCa)arows.biz] Sent: Friday, June 13, 2014 11:48 AM To: Will Fleming Subject: Carmel Will, Here are the documents. The Acceptance is in the amount of a cost not to exceed of$687.200.00, which is the offer amount plus a cost not to exceed of $24K for re- irbursement. In the Warranty deed, the recited amount of consideration is $654,300.00. That is the amount of the fee simple taking. The balance between this amount and the amount of the Uniform Offer is attributable to the temporary easement. The sales disclosure recites the $654,300.00 figure as the sale price for the fee simple acquisition There are two claim vouchers. One is for the re- imbursement to Virtu for the funds expended for obtaining the partial releases and UCC releases. I'm assuming you'll hit the $24K figure. Well need documentation of those expenses. The second claim voucher is for the Uniform Offer price. I'm assuming that the mortgage company will ask for all of the proceeds. It's made out to Virtu and to whomever the mortgage company is. There will be a joint check. You already have a copy of a suggested partial mortgage release and partial release of assignment of rents and leases. If you all use those forms, you'll need to have your attorney fill in the "prepared by" portion. Allen 3 Taft/ Taft Stettinius.& Hollister LLP One Indiana Square, Suite 35001 Indianapolis, IN. 46204 - 2023:! Tel 317.713:3500 / Fax: 317.713.3699 / wwwaaftlaw.com ,Cincinnati /Columbus Cleveland ! Dayton;/ Indianapolis / Northern Kentucky/ Phoenix TAXPAYER I.D. NUMBER: 310541755 MARLS: 11, 2013 INVOICE 4 2466560 T)GBL. OUR FILE# 14089 01904 BILLING THROUGH ,F'EBROARY 28., 2013 VIRTU MERIDIAN ASSOCIATES, LTC 5973 AVENIDA ENCINAS SUITE 220 CARLSBAD, CA 92008 RE: MERIDIAN TOWER LEASING FOR .PROFESSIONAr,- SERVICES RENDERED 2/01/13 DGBL ('',CdrIri21!'s); )B1 'LA1'y Areeelue5a nc33Tbrgf]yi .20. 380. .76.00 renewed,:RITgY}F1, 6eiEni: ;(e'ma, eirepaaded ;w, en Ofinader$ Yegarda zdg; "8 Ie' m l 111 Same (e�mai l)p�! 2/p4 /.13- DGB`L��(Carmel ?l' waehly „Ermerm2ghtnpf entry,` .60 380 228.00 (b %egeoiifere;a ,r..wa.ths.E�+ t�onades regardi?ng', same;�l i'Geleghone'confe ence: q °T4 SS ]°'9'SJ}'], irlemiy�g *Iegai!danq same.:” yet e v1 . fist d .-,y. r,; 2/04/;13 - EDPO:;,(Cam�.L.); �Ponadexie,reuiec "ve:d rz 'of ent Y'.y;� 1.20 395 474.00 i'i.eewed., ndlaaiiE5.. yt„con "fWrred#wi, Blachly regarding same,. 2/15/13 DGBL (Gardner) Blachly gave attention to brief .20 380 76.00 review of comments to lease assignment documeritS. 2/18/13 DGBL (Gardner) Blachly teviewed. revised ..90 380 342.00 Assignment of .Lease,; Consent and .. Guaranty; corresponded-with Fleming regarding same '(e- nail). 2/19/13 CLTA (Gardner) Tazzi reviewed term sheet and 265 155.0.0 lease documents in anticrpation.-for drafting the Second amendment for: the Allegiant lease,: 2/19/13 DGBTJ (A17.egient) Blachly received and briefly .60 380 228.00 reviewed term, sheet (Second Amendment); brief review of file; corresponded .with A. Broderick regarding; "open items" 114D01:14089.01904.2466560 VIRTU MERIDIAN ASSOCIATES, LLC Bilzin,Sumberg,Baena,Pri.ce DATE INVOICE NO DESCRIPTION INVOICE AMOUNT 7 -27 -14 07/27/14 Closing of Carmel Land Sale 1750.00 CHEC DATE 7 -28 -14 NUMBER 2229 TOTAL> 1750.00 PLEASE DETACII AND RETAH FOR YOUR RECORDS VIRTU MERIDIAN ASSOCIATES, LLC B.ilzin, Sumberg,Baena,Price DATE INVOICE NO DESCRIPTION INVOICE AMOUNT 7 -27 -14 07/27/14 Closing of Carmel Land Sale 1750.00 CIIECK DATE 7 -28_14 CHECK 2229 NUMBER TOTAL> 1750.00 PLEASE DETACH AND REfAW FOR YOUR RECORDS VIRTU MERIDIAN ASSOCIATES, LLC HOKANSON COMPANIES, INC., AGENTS 201 W. 103RD STREET, #400 HOKANSON INDIANAPOLIS, IN 46290 COMPANIES INC. FIRST MERCHANTS BANK DATE CHECK NO. AMOUNT July 28, 2014 2229 $" ""1,750.00 Pay: *******"."' "" `One thousand seven hundred fifty dollars and no cents Timberscan PDF Copy " VOID ' VOID *VOID " PAY TO THE ORDER OF B i lzi n,Su mberg, Baena,Price & Axelrod, LLP 1450 Brickell Ave 23rd Floor Miami, FL 33131 . NOT NEGOTIABLE' Project: Illinois Street Extension Project No. 10 -10 Parcel: 1 and lA WARRANTY DEED THIS INDENTURE WITNESSETH THAT The Virtu Meridian Associates, LLC (individually and collectively the "Grantor "), convey and warrant to the City of Carmel, Indiana (the "Grantee "), for the sum of Six Hundred Fifty -four Thousand Three Hundred and 00 /100 Dollars ($654,300.00) (of which said sum $654,300.00 represents land and improvements acquired and $0 represents damages) and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the following described real estate in Hamilton County, State of Indiana: Sec attached Exhibit A (Parcel 1), Exhibit A (Parcel IA), and Exhibit B, which are attached hereto and incorporated herein subject to any and all easements, agreements, restrictions and other matters of record. The Grantor hereby specifically acknowledges and agrees that the Real Estate conveyed herein is conveyed in fee simple and that no reversionary rights whatsoever shall remain with the Grantor, or any successors in title to the abutting lands of the Grantor, notwithstanding any subsequent abandonment, vacation, disuse, nonuse, change of use, conveyance, lease and /or transfer by the Grantee or his successors in title, of a portion or all of the said Real Estate or any right of way, roadway or roadway appurtenances established thereupon. This acknowledgement and agreement is a covenant running with the land and shall be binding upon the Grantor and all successors and assigns. The undersigned represent and warrant that Virtu Commercial LLC is the manager of Grantor, that Virtu Investments LLC is the manager of Virtu Commercial LLC, that Scott McWhorter is the managing member of Virtu Investments LLC (all such entities other than Grantor being referenced as "Grantor's Related Parties "); that the Grantor and Grantor's Related Parties are limited liability companies validly existing in their respective States of origin and, where required, in the State where the subject real estate is situated; that the Grantor has hull company capacity to convey the real estate interest described; that Grantor's Related Parties have full authority to take actions related to Grantor's conveyance; that pursuant to a resolution of the members /manager, as applicable, of the Grantor and the Grantor's Related Parties, such parties have full authority to execute and deliver this instrument on behalf of Grantor and Grantor's Related Parties and that said authority has not been revoked; that they are therefore, fully authorized and empowered to convey to the Grantee real estate of the Grantor; and that on the date of execution of said conveyance documents they had full authority to so act; and that all necessary action by Grantor and Grantor's Related Parties for the making of this conveyance has been duly taken As an inducement for the Grantee to close this real estate transaction, the Grantor assumes and agrees to pay the 2013 real estate taxes and assessments payable in 2014, and any and all delinquent real estate taxes, interest and penalties on the above described real estate. This obligation to pay shall survive the said closing and shall be enforceable by the Grantee in the event of any non - payment. IN WITNESS WIIEREOF, Grantor has caused this Warranty Deed to be executed this day of S T 2014. Virtu Meridian Associates, LLL, an Indiana limited liability company BY: Virtu Commercial, LLC, a Delaware limited liability company, its Manager BY: Virtu Investments, L.L.C., an Arizona limited liability company, its Manager STA fE OF I COUNTY OF BY: �- `Scott McWhorter, Managing Member ) SS: NOTARY CERTIFICATION Before me the undersigned, a Notary Public in and for said County and State, personally appeared , who acknowledged the execution of the foregoing Warranty Deed for and on behalf of such Grantor, and who, having been duly sworn, stated that the representations therein contained are true. WITNESS my hand and Notarial Seal this day of . 2014. My Commission Expires: Ch■E o`{Eic 4res1 ^1ls4aorr d.9.anboi .oyk County of Residence: Notary Signature Notary Printed Name This instrument was prepared by Douglas C. Haney, Carmel City Attorney, City Hall, One Civic Square, Carmel, Indiana 46032 Send tax bills to: One Civic Square, Carmel, IN 46032 After recording, return deed to: Douglas C. Haney, Carmel City Attorney, City Hall, One Civic Square, Carmel, Indiana 46032 [ affirm, under the penalties for perjury, that I have taken reasonable care to redact each and every Social Security number from this document, unless it is required by law. Douglas C. Haney 8314641 2 CALIF RNIA. ALL— PURPOSE CE' :TIFICATE OF ACKNIWLE sl' GMENT State of California County of _ MARIN On n, -7 -7(j /4 before me, EVAN TIMMEL NOTARY PUBLIC { (Here insert name and :isle et 'the officer) personally appeared C[4t h iC� itaf I btoiko, who proved to me an the basis of satisfactory evidence to be the person (5f whose narne(sTis /ari subscribed to the within instrument and acknowledged to me that he /shcRbey executed the same in his/her/their authorized capacity(lef), and that by his /her/U32ir signature_(s) on the instrument the person(s); or the entity upon behalf of which the persoq(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. 11 EVAN TIMMEL WETNESS my l'i nd -and officio peal. ar ` I Commission # 1992810 �� / Notary Public - Calilornia a ,+ 1 'g{ Morin County c 41-l�LA • t itij/t4,4 ;btor;'. - -- . .irisComnl.[spit Oct 27, 2016 {:. Sig r1a re of Notary Public 4 —_ ADDITIONAL OPTIONAL INFORMATION DESCRIPTION OF THE ATTACHED DOCUMENT (Title or description of attached document) (Title or description of attached document continued) Number of Pages Document Date (Additional information) CAPACITY CLAIMED BY THE SIGNER ❑ Individual (s) ❑ Corporate Officer (Title) ❑ Partner(s) ❑ Attorney -in -Fact ❑ Trustee(s) ❑ Other INSTRUCTIONS FOR COMPLETING THIS FORM Any acknowledgment completed in California must contain verbiage exactly as appears above in the rotary section or a separate acknmvkedgrnent form must be properly completed and attached to that document. The only exception is if a document is to be recorded outside of California. in such instances. any alternative acknowledgment verbiage as may be printer( on such a document so long as the verbiage does not require the nompy to do sometlrhrg that is illegal for a notary in Callforn /a (re. certifying the authorized capacity of dm signer), Please check the document unary, ly Jar proper notarial wording and munch this form if r equPed, • State and County information must be the State and County where the document signer(s) personally appeared before the notary public for acknowledgment, • Date of notarization must be the date that the signer(s) personally appeared which must also be the same date the acknowledgment is completed. • The notary public must print his or her name as it appears within his or her commission followed by a comma and then your title (notary public). • Print the.game(s) of document signer(s) who personalty appear at the time of notarization. • indicate the correct singular or plural forms by crossing off incorrect forms (1.0. he /shd +ay, is /are ) or circling the Correct forms. Failure to correctly indicate this information may lead to rejection of document recording. • The notary scat impression nnsl be clear and photographically reproducible. Impression must not cover text or lints. fry seal impression smudges, re -seal if a sufficient area permits, otherwise complete a different acknowledgment form. • Signature of the notary public must match the signature on 131e with the office of the county clerk. Additional information is not required but could help to ensure this acknowledgment is not misused or anaclied to a different document. Indicate title or type of attached document, number of pages and date Indicate the capacity claimed by the signer if the claimed capacity is a corporate ofriccr, indicate he title (i.e. 000, CFO, Secretary). • Securely attach this document to the signed document 2008 Version CAPA v12.10.07 800 -373 -9865 www.NotaryClasses.com EXHIBIT "A" Project: 10 -10 Parcel: 1 Fee Key Co.: 29 -13-I1- 000 - 028.101 -018. Sheet 1 of 1 A part of the Southwest Quarter of Section 11, Township 17 North, Range 3 East, Hamilton County, [ndiana, and being that part of the grantor's land lying within the right of way lines depicted on the attached Right of Way Parcel Plat, marked EXHIBIT "B ", described as follows: Commencing at the Northwest corner of said quarter section, designated as point "4" on said parcel plat; thence along the west line of said section South 00 degrees 00 minutes 14 seconds East 740.76 feet to the prolonged southern boundary of 103`d Street; thence along said southern boundary the following three courses, (I) thence North 89 degrees 59 minutes 46 seconds East 55.00 feet to the west line of the grantor's land and the point of beginning of this description; (2) thence North 89 degrees 59 minutes 46 seconds East 173.49 feet; (3) thence Northeasterly 19.72 feet along an arc to the left and having a radius of 230.00 feet and subtended by a long chord having a bearing of North 87 degrees 32 minutes 25 seconds East and a length of 19.71 feet to the west line of Parcel A described in Instrument No. 2007030140 in the office of the Recorder of Hamilton County, Indiana; thence along said west line South 00 degrees 00 minutes 14 seconds East 257.06 feet to the south line of the grantor's land, designated as point "201" on said plat; thence along said south line South 89 degrees 03 minutes 13 seconds West 193.21 feet to the east boundary of Spring Mill Road, designated as point "200" on said plat; thence along said east boundary North 00 degrees 00 minutes 14 seconds West 259.39 feet to the point of beginning and containing 1.143 acres, more or less. ,,,ko11111 /10„ This description was prepared for the City of Carmel, Indiana by �6 . .S�.E •c RF':�; Timothy J. Coomes. [ndiana Registered Land Surveyor, License Number = * 20600004: _ 20600004, on the Z9 day of _AU(,usr . 2012. . STATE 11\ (�S IaP Fff \` °' /;„ SUR \iN \ ■• EXHIBIT "A" Project: 10 -10 Parcel: l Fee Key Co.: 29- 13 -11- 000 - 036.005 -023 Sheet 1 of 2 A part of the Southwest Quarter of Section 11, Township 17 North, Range 3 East, Hamilton County, Indiana, and being that part of the grantor's land lying within the right of way lines depicted on the attached Right of Way Parcel Plat, marked EXHIBIT "B ", described as follows: Commencing at the Northwest corner of said quarter section, designated as point "4" on said parcel plat; thence along the west line of said section South 00 degrees 00 minutes 14 seconds East 740.76 feet to the prolonged southeastern boundary of 103rd Street; thence along said southeastern boundary the following seven courses, (1) thence North 89 degrees 59 minutes 46 seconds East 55.00 feet to the west line of the grantor's land; (2) thence continuing North 89 degrees 59 minutes 46 seconds East 173.49 feet; (3) thence Northeasterly 19.72 feet along an arc to the left and having a radius of 230.00 feet and subtended by a tang chord having a bearing of North 87 degrees 32 minutes 25 seconds East and a length of 19.71 feet to the west line of Parcel A described in Instrument No. 2007030140 in the office of the Recorder of Hamilton County, Indiana and the point of beginning of this description; (4) thence continuing Northeasterly 283.53 feet along an arc to the left and having a radius of 230.00 feet and subtended by a long chord having a bearing of North 49 degrees 46 minutes 11 seconds East and a length of 265.91 feet; (5) thence Northeasterly 170.27 feet along an are to the right and having a radius of 1,185.00 feet and subtended by a long chord having a bearing of North 18 degrees 34 minutes 16 seconds East and a length of 170.12 feet; (6) thence North 22 degrees 41 minutes 15 seconds East 72.34 feet; (7) thence Northeasterly 52.74 feet along an arc to the right and having a radius of 40.00 feet and subtended by a long chord having a bearing of North 60 degrees 27 minutes 41 seconds East and a length of 49.00 feet to point "432" designated on said plat; thence Southwesterly 19.62 feet along an arc to the right and having a radius of 745.00 feet and subtended by a long chord having a bearing of South 24 degrees 48 minutes 26 seconds West and a length of [9.62 feet to point "431" designated on said plat; thence South 25 degrees 34 minutes 11 seconds West 70.60 feet to point "430" designated on said plat; thence Southwesterly 22.97 feet along an arc to the left and having a radius of 1,130.00 feet and subtended by a long chord having a bearing of South 24 degrees 59 minutes 14 seconds West and a length of 22.97 feet to point '`429" designated on said plat; thence South 31 degrees 11 minutes 19 seconds West 30.45 feet to point "428" designated on said plat; thence Southwesterly 73.71 feet along an arc to the left and having a radius of 1,134.00 feet and subtended by a long chord having a bearing of South 21 degrees 00 minutes 53 EXHIBIT "A" Project: 10 -10 Parcel: IA lee Key Co,: 29- 13 -11- 000 - 036.005 -023 Sheet 2 of 2 seconds West and a length of 73.70 feet to point "208" designated on said plat; thence South 21 degrees 13 minutes 25 seconds West 37.88 feet to point "207" designated on said plat; thence South 16 degrees 48 minutes 18 seconds West 17.36 feet to point "206" designated on said plat; thence Southwesterly 40.29 feet along an are to the right and having a radius of 299.00 feet and subtended by a long chord having a bearing of South 20 degrees 13 minutes 44 seconds West and a length of 40.26 feet to point "205" designated on said plat; thence South 23 degrees 55 minutes 14 seconds West 59.34 feet to point "212" designated on said plat; thence Southwesterly 141.47 feet along an are to the right and having a radius of 305.00 feet and subtended by a long chord having a bearing of South 48 degrees 36 minutes 54 seconds West and a length of 14020 feet to point "204" designated on said plat; thence South 40 degrees 03 minutes 01 seconds West 116.88 feet to the said west line of Parcel A, designated as point "202" on said plat; thence along said west line North 00 degrees 00 minutes 14 seconds West 99.37 feet to the point of begriming and containing 0.332 acres, more or less. This description was prepared for the City of Carmel, [ndiana by Timothy J. Coomes, Indiana Registered Land Surveyor, License Number 2� 6 20600004, on the :20600004: STATE OF ••Nora? :mot n SURV /1111111,1, • LINE "5-1 -A RIG &C. C. 14 +81.69 "PR -A 0.05 i 1 1622 "08" 5-v� 4 9.r. 14 +81.66 PP -32" GORVE 0A TA 0.1 14+15.65 'PR -47" 33'08'40' Lt. R= 215.00" r= 69.93' L= 135.94' 6= 10 78' P.C. 13 +45.72 "PR -A2" P. 13+00.00 PR -32 " P.0 11+79 77 A 1I001 P 0. L 1 +00.00 "A "- P.O.T. 25 +75.00 5 -1 -3" 25 +00 LINE 'A °-///'/ (DP 10+41.44 "PP-32" CURVE DATA: 0.1 9 +25.41 ER -A2" A = 49'29'23" R1. R= 28500' T= 132.74' 1= 24876' 6= 2.9.12" C.5�3e P.C. 7 +92.67 'PR -A2 "= P.O.T 22 +14.57 5 -1 -11 PO. T. 6 +78.10 "PP- ,12"=„ P.Q' 21 +0000 "S - I -A" EXHIBIT "B" T -OF -WAY PARCEL HAT Prepared for The City of Carmel, Indiana by United Consulting (Job No. 11 -408) 11 P.O.C. 17;:-7707 A°= PO.: 10 +00.00 5 -2 -7" P.C. 17 +44.93 'A "= 508 /P.O.T. 17 +44.99 PR -72" P. 16 +74.39 A "= 07 C P.T. 16 +74.40 PR -A2 "\ CURVE DATA: P.I. 15 +75.25 PP -A2' = 09'12'03" Rt. R= 1,200.00' T= 96.56' L= 192.70' E= 3.83' \ 10350 ST -\ • / v 0 4' i9?9 \0 9/w E SHEET 1 OF 3 0 50 100 200 SCALE: r• 20d LINE "PR-A2" N 25'34'11" E SUPERIOR 51: 55.0. 74 +81.77 A" LIVE "PR-32" N 19'30'48 " E - LINE "PR -A2" AI 00'00'14" W P.0.T +00.10 S 1 -A "@ c3 Ea / 465 REVISED BY: K.I. CARR 8 -29 -12 OWNER VIRTU MERIDIAN ASSOCIATES, LLC PARCEL : 1 CODE . PROJECT : 10 -10 ROAD : ILLINOIS ST. COUNT( : HAMILTON SECTION ; 11 TOWNSHIP : 17N. RANCE : 3E. HATCHED AREA IS THE APPROXIMATE TAKING DRAWN BY: K.I. CARR 6 -7 -12 CHECKED BY: T.J. COOMES 6 -8 -12 DES. NO. : INSTRUMENT NO. 2007030140, DATED 5 -7 -07 Dimensions shown ore from the above listed Record Documents. 10 J RIG lit EXHIBIT "B" T -OF -WAY PARCEL HAT Prepared for The City of Carmel, Indiana by United Consulting (Job No. 11 -408) SHEET 2 OF 3 N 200 0 50 100 SCALE: 1 "= 200' LINE S -- I -A" 431 SUPERIOR ST 5148' ;0' TELEPHONE- 845:4:8(4-NT 103R0 ST-, LINE '4" 207) 4800' 25 +00 // 35.00"- 40' SJNITARY SEWER DISEmEVT � e (\204 0' ELECTRC ONE E4SEMFVr LINE PR -A2 R%N 201 KEY NO 10' TELEPHONE G6EUUENT i5 SINITARY SEWER ESEMENT RES. A 29 -13 -11 -000- 036.005 -023 735J8'-° -- m' ELECIRC LINE KEY NO.: 29 -13 -11 -000- 028.101 -018 I -465 E SEVENT REVISED BY: K.I. CARR 8 -29 -12 OWNER VIRTU MERIDIAN ASSOCIATES, LLC PARCEL 1 CODE . PROJECT : 10 -10 ROAD : IWNOIS ST. COUNT( : HAMILTON SECTION : 11 TOWNSHIP : 17N. RANGE : 3E. HATCHED AREA IS THE APPROXIMATE TAKING DRAWN BY: K.I. CARR 6 -7 -12 CHECKED BY: T.J. COOMES 6 -8 -12 DES. NO. : INSTRUMENT NO. 2007030140, DATED 5 -7 -07 Dimensions shown are from the above listed Record Documents. EXHIBIT "B" (cont.) PARCEL COORDINATE CHART Point Line Station Offset NORTH FAST *4 '1E-!-Au *500 "S 1-A' - - -- *501 "d1 -- - - -- *503 "A' - - -- - - -- ' 505 X' *507 A" -- -- - - -- -- -- *508 - - -- - --- *509 - - -- -- -- 200 "A" +2(10+55.00) 4.(284.39' RT.) 96035.2953 104939.9171 201 "d' 12 +10.74 1(285.75 RT.) 96038.4869 105133.1037 202 "A" 12 +24.08 130.00' RT. 96196.1718 105133.0931 204 "A" . 12 +95.00 70.00' RT. 96285.6431 105208.3022 205 "P8-42" 14 +50.00 64.00' RT. 96432.5800 105337.5584 206 "PR -42" P.T.(14 +81.66) 64.00' RT. 96470.3539 105351.4761 207 "PR -42" 15 +00.00 64.00' RT. 96486.9720 105356.4950 208 "PR -42" 15 +40.00 66.00' RT. 96522.2869 105370.2094 212 "A" 14 +04.00 70.00' RT. 96378.3339 105313.4945 428 "PR -A2" 16 +18.00 66.00' RT. 96591.0822 105396:6378 429 "88-42" 18 +50,00 70.00 RT. 96617.1308 105412.4064 430 "PR -42" P.T.(16 +74.40) 70.00' RT. 96637.9540 105422.1108 431 "A" 17 +44.98 70.00' RT. 96701.6393 105452.5822 432 '5' +4(17 +62.76) 70.00• RT. 96719.1499 105460.8146 433 "PR -A2' P.0.T.(6 +78.10) - - -- 95844.6864 104884.9298 434 "PR -A2' P.C.(7 +92.67) - - -- 95959.2590 104884.9222 435 "88-42" 8.1.(10 +41.44) - - -- 96178.2295 104985.8277 436 "PR -A2" P.1.(13+00.00) - - -- 96346.2016 105182.4006 437 "PR -42" P.C.(13 +45.72) - - -- 96375.8870 105217.1741 438 "PR -42" P.T.(14 +81.66) - - -- 96488.3903 105290.0701 439 "PR -A2" P.0_(14 +81.69) - - -- 96.488.4193 105290.0786 NOTE: STATIONS & OFFSETS CONTROL OVER BOTH NORTH & EAST COORDINATES AND BEARINGS & DISTANCES. * SEE LOCATION CONTROL ROUTE SURVEY PLAT. SHEET 3 OF 3 SURVEYOR'S STATEMENT To the best of my knowledge and belief, this plat, together with the "Location Control Route Survey' \`v11111111trrrvx recorded as Instrument Number 2011051245 in the Office of the Recorder of Hamilton County, Indiana, (incorporated and made a part hereof by reference) n omprise a Route Survey executed in \��````� �' x/. a accordance with Indiana Administrative Code 865 IAC 1 -12, ( Rule 12"). .` • '� STER „on. 20600004. * _- STATE OF . Given under my hand and seal /2 11M0 J. OQM Registered' Land Surveyor No. 20 State of Indiana 0004 REVISED BY: %14'0 SURVR w\\`�� /, /vvrr�rin 1111tA�\ K.I, CARR B -29 -12 1 OWNER : VIRTU MERIDVAN ASSOCIATES, LLC PARCEL : 1 CODE PROJECT : 10 -10 ROAD : IWNOIS ST. COUNTY : HAMILTON SECTION : 11 TOWNSHIP : 17N. RANGE : 3E. Dimensions shown are from the above listed Record Document DRAWN BY: K.I. CARR 6 -7 -12 CHECKED 8Y: T.J. CONES 6 -8 -12 DES. N0. : C PY Cross Reference to Prior Deed of Record: Special Warranty Deed, Instrument Number 2007030140 in the Office of the Recorder of Hamilton County, Indiana TEMPORARY EASEMENT AGREEMENT This Temporary Easement Agreement (this "Agreement ") is made and entered into this day of , 2014 by and between Virtu Meridian Associates, LLC( "Grantor ") and the City of Carmel, Indiana ( "Grantee "). RECITALS A. Grantor owns certain real property (the "Grantor's Parcel ") located in I- Iamilton County, Indiana, more particularly described as follows: See Exhibit 1 attached hereto and incorporated herein. B. Grantee, in connection with Grantee's public improvement project entitled Illinois Street Extension Project No. 10 -10 (the "Project "), requires a .temporary easement for the duration of the Project for purposes of constructing that portion of the Project located upon and /or adjacent to the Grantor's Parcel. Such temporary easement area (herein referred to as the "Temporary Easement Parcel ") is more particularly described as follows: See Exhibit A (1B) and Exhibit A (1C), which are attached hereto and incorporated herein. NOW, THEREFORE, in consideration of the foregoing recitals, all of which are incorporated herein by this reference, and of the grant of easement and the mutual promises and covenants set forth herein, the parties hereto agree as follows: 1. Temporary Rights Acquired by Grantee. During the term of the Project, Grantor hereby grants and conveys to Grantee the exclusive right to utilize the Temporary Easement Parcel for all purposes related to the construction of the Project, including, but not limited to, the storing of equipment and the staging of the construction of the Project. Upon the earlier of the date of final completion of the Project or three (3) years from the date hereof, such temporary easement shall terminate and Grantee shall return the Temporary Easement Parcel to Grantor in substantially the same condition as existed prior to the commencement of the Project. 2. Rights Retained by Grantor. Grantor shall retain unto himself, and his grantees, heirs, successors and assigns, and all others to whom Grantor may grant rights or easements, the right to use the Temporary Easement Parcel for any and all purposes and uses not inconsistent with the foregoing easement acquisition by Grantee, including without limitation the right to install, use, maintain, repair and replace existing driveways and curbing not removed by Grantee as part of the Project, as well as the right of access over and across the Temporary Easement Parcel to and from public streets adjacent to the Temporary Easement Parcel via Grantor's existing driveway or any future driveway. {00014174.DOCx.3 J 3. Easement and Covenants Appurtenant. The easement granted, created and made herein; together with all the benefits thereof, shall run with the Grantor's Parcel and inure to the benefit of Grantee and its grantees, successors and assigns. The easement granted, created and made herein, together with the burdens thereof, shall run with and bind the Grantor's Parcel, and shall bind Grantor and his grantees, successors and assigns. All covenants and agreements of the Grantor and Grantee hereunder, together with the benefits and burdens thereof, shall be deemed to be real covenants which touch and concern the Grantor's Parcel and the Temporary Easement Parcel, as applicable, shall run with the Grantor's Parcel and the Temporary Easement Parcel, and shall inure to the benefit of and be binding upon Grantor and Grantee, as applicable, and their respective grantees, successors and assigns. 4. Governine Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Indiana, except for its conflict of laws provisions. IN WITNESS WHEREOF, Grantor and Grantee have executed this Agreement as of the date first written above. GRANTOR VIRTU MERIDIAN ASSOCIATES, LLC, an Indiana limited liability company By: VIRTU COMMERCIAL, LLC, a Delaware limited liability company, its Manager By: VIRTU INVESTMENTS, L.L.C., an Arizona limited liability company, its Manager By: Scott McWhorter, Managing Member GRANTEE CITY OF CARMEL Bv: Printed: Tide: (000 141 74. DOCX.3 2 CALIFORNIA ALL - PURPOSE ACKNOWLEDGMENT r r- .rr.•. •r- r or r•r`• State of California County of fr14rim On JVI9 214, 2Qrn before me, Date Scnft personally appeared •r, •r•r r is TTM /39,0n, e 4ofory ,,(,b/, Here Insert Name and The of tie Officer MM (-r Name(s) of Signer(s) TOM ROYALL Commission k 2027685 Notary PU C California t Marin County My Ccrt m. E+g ies Al d, 2017 Place Notary Seal and /or Stamp Above who • proved to me on the basis of satisfactory evidence.to be the person(s -whose name(g) -is/ i4 subscribed to the within instrument and acknowledged to me • that • he /sP(6/thEq— executed the same in his /Fjerlth - authorized• ;capacity(it57 and that by his:b sthefr signatures on the instrument the person» or the entity •upon behalf of which the person(4acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. Signature: • ✓d%'1 OPTIONAL Though the information below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent removal and reattachment of this form to another document. Description of Attached Document Signature of Notary Public Title or Type of Document: Document Date: • Number of Pages: Signer(s) Other.Than Named Above: Capacity(ies) Claimed by Signer(s) Signer's Name: C. Corporate Officer — Title(s): ❑ Individual ❑ Partner —0 Limited ❑ General ❑ - Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: IIGHT3n'IUMBPHINI. i 3_OF�SIGJERt y?t Top o humb here Signer's Name: ❑ Corporate Officer —Title(s): ❑ Individual ❑ Partner — 0 Limited ❑ General ❑ Attorney in Fact ❑ Trustee ❑ Guardian or Conservator ❑ Other: Signer Is Representing: ©2005 National Notary Association., 9350 De Soto Ave., P.O. Box 2402•Chatsworth, CA 91313 -2402• w.vv.kelonalNotary.org Item 45907 ReordeoCall Toll-Free 1 -800-676 -6827 STATE OF ) ) SS: COUNTY OF ) Before me, a Notary Public in and for said County and State, personally appeared Scott McWhorter, known to me to be the Managing Member of Virtu Investments, L.L.C., an Arizona limited liability company, of the Grantor, and acknowledged the truth and accuracy of the representations made herein and the execution of the foregoing Agreement. Witness my hand and Notarial Seal this day of , 2014. My commission expires: I am a resident of County, Indiana STATE OF COUNTY OF ) SS: Notary Public Printed Name Before me, a Notary Public in and for said County and State, personally appeared , of the Grantor, and who, having been duly sworn, acknowledged the truth and accuracy of the representations made herein and the execution of the foregoing Agreement. Witness my hand and Notarial Seal this day of , 2014. My commission expires: I am a resident of County, Indiana 100014174.DOCX.3 ) 3 Notary Public Printed Name STATE OF INDIANA ) ) SS: COUNTY OF HAMILTON ) Before me, a Notary Public in and for said County and State, personally appeared the of the Grantee, who, having been duly sworn, acknowledged the truth and accuracy of the representations made herein and the execution of the foregoing Agreement for and on behalf of said Grantee. Witness my hand and Notarial Seal this day of , 2014. My commission expires: I am a resident of County, Indiana Notary Public Printed Name This instrument was prepared by: Douglas C. Haney, Carmel City Attorney, One Civic Square, Carmel, Indiana 46032 I affirm, under the penalties for perjury, that I have taken reasonable care to redact each and every Social Security number in this document, unless it is required by law. Douglas C. Haney (00014174.DOCX.3) 4 Exhibit 1 LEGAL DESCRIPTION Parcel A Part of the Southwest Quarter of Section 11, Township 17 North, Range 3 East inHarnilton County, Indiana. being more particularly described as follows: Commencing at a stone marldng the Northwest corner of said Quarter Section; thence South 00 degrees 03 minutes 10 seconds West (Assumed Bearing) along the West line of said Quarter Section a distance of 752,12 feet to a P.K. nail; thence South 89 degrees 56 minutes 50 seconds East a distance of 35.00 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp." and the East right of way line for Spring Mill Road per plans for I,S.Ii.C. Project No. 1- 465-4- (94) -130 dated I965, Sheet No. 42 (the next two (2) described courses being along the said East right of way line); thence South 02 degrees 30 minutes 12 seconds East a distance of' 112.11 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp."; thence Soutar 02 degrees 48 minutes 30 seconds East a distance of 136.34 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp."; thence North 89 degrees 06 minutes 10 seconds F"st, parallel with the North line of the said Quarter Section. a distance of 200.01 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp." and the Beginning Point; thence North 00 degrees 03 minutes 10 seconds East, parallel with the said West line, a distance of 257.32 feet to a curve having a radius of 230.00 feet, the radius point of which bears North 04 degrees 51 minutes 55 seconds West; thence Northeasterly along the are of said curve a distance of 283.53 feet to the point of reverse curvature of a curve, having a radius of 1185.00 feet, the radius point of which bears South 75 degrees 29 minutes 42 seconds East; thence Northerly along the are of said curve a distance of 170:27 feet to apoint which bears North 67 degrees 15 minutes 45 seconds West from said radius point; thence North 22 degrees 44 minutes 15 seconds East a distance of 72.34 feet to a curve having a radius of 40.00 feet, the radius point of which bears South 67 degrees 15 minutes 45 seconds East; thence Easterly along the are of said curve a distance of 62.83 feet to a point which bears North 22 degrees 44 minutes 15 seconds East from said radius point; thence South 67 degrees 15 minutes 45 seconds East a distance of 23:80 feet to a curve having n radius of 330.00 feet, the radius point of which bears North 22 degrees 44 minutes 15 seconds East; thence Easterly along the arc of said curve a distance of 130.96 feet to a point which bears South 0D degrees 00 minutes 00 seconds East from said radius point; thence North 90 degrees 00 minutes 00 seconds East a distance of 153.48 feet to a P.K. Nail; thence South 10 degrees 00 minutes 00 seconds West a distance of 301.69 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp"; thence North 89 degrees 06 minutes 10 seconds East, parallel with the said North line, a distance of 148.04 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr, Corp"; thence South 00 degrees 03 minutes 10 seconds West, parallel with the said West line. a distance of 337.08 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp'; thence South 89 degrees 06 minutes 10 seconds West, parallel with the said North line, a distance of 736.38 feet to the Beginning Point. 85a532 13675!6 832365v1 4 Parcel B Part of the Southwest Quarter of Section 11, Township 17 North, Range 3 East in Hamilton County, Indiana. being more particularly described as follows: Commencing at a stone marking the Northwest Corner of said Quarter Section; thence South 00 degrees 03 minutes 10 seconds West (assumed bearing) along the West line of said Quarter Section a distance of 732.50 feet to a P.K. Nail and the Beginning Point; thence continue South 00 degrees 03 minutes 10 seconds West along the said West line a distance of 19.62 feet to a P.K. Nail; thence South 89 degrees 56 minutes 50 seconds East a distance of 35.00 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp" and the East right of way line for Spring Mill Road per plans for 1.S.H.C. Project No. 1- 465- 4 -(94) -130 dated 1965, Sheet No. 42 (the next two (2) described courses being along the said East right of way line); thence South 02 degrees 30 minutes 12 seconds East a distance of 112.11 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp"; thence South 02 degrees 48 minutes 30 seconds East a distance of 136.34 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp"; thence North 89 degrees 06 minutes 10 seconds East, parallel withthe_North line of the said Quarter Section, a distance of 200.01 feet to a 5/8 inch rebar with yellow cap marked "Schneider Engr. Corp "; thence North 00 degrees 03 minutes 10 seconds East, parallel with the said West line, a distance of 257.32 feet to a curve having a radius of 230.00 feet, the radius point of which bears North 04 degrees 51 minutes 55 seconds West; thence Northeasterly along the arc of said curve a distance of 283.53 feet to the point of reverse curvature of a curve having a radius of 1185.00 feet, the radius point of which bears South 75 degrees 29 minutes 42 seconds East; thence Northerly along the are of said curve a distance of 170.27 feet to a point which bears North 67 degrees 15 minutes 45 seconds West from said radius paint; thence North 22 degrees 44 minutes 15 seconds East a distance of 72.34 feet to a curve having a radius of 40.00 feet, the radius point of which bears South 67 degrees 15 minutes 45 seconds East; thence Fatterly along the are of said curve a distance of 62:83 feet to a point which bears North 22 degrees 44 minutes 15 seconds East from said radius point; thence South 67 degrees 15 minutes 45 seconds East a distance of 23.80 feet to a curve having a radius of 330.00 feet, the radius point of which bears North 22 degrees 44 minutes 15 seconds East; thence Easterly along the arc of said curve a distance of 130.96 feet to a point which bears South 00 degrees 00 minutes 00 seconds East from said radius point; thence North 90 degrees 00 minutes 00 seconds East a distance of 153.48 feet to a P.K. Nail; thence North 00 degrees 00 minutes 00 seconds East a distance of 15.00 feet too P.K. Nail; thence South 90 degrees 00 minutes 00 seconds West a distance of 153.48 feet to a PK Nail and a curve having a radius of 315.00 feet, the radius point of which bears North 00 degrees 00 minutes 00 seconds East; thence Westerly along the arc of said curve a distance of 125.01 feet to a P.K. Nail which bears South 22 degrees 44 minutes 15 seconds West from said radius point; thence North 67 degrees 15 minutes 45 seconds West a distance of 78:80 feet to a.P.K. Nail; thence South 22 degrees 44 minutes 15 seconds West a distance of 127.34 feet to a P.K. Nail and a curve having a radius of 1200.00 feet, the radius point of which bears South 67 degrees 15 minutes 45 seconds East; thence Southerly along the arc of said curve a distance of 171.98 feet to a P.K. Nail and the point of reverse curvature of a curve having a radius of 225.00 feet, the radius point of which bears North 75 degrees 28 minutes 27 seconds West; thence Southwesterly along the arc of said curve a distance of 296.59 feet to a P.K. Nail; which bears South 00 degrees 03 minutes 10 seconds West from said radius point; thence North 89 degrees 56 Minutes 50 seconds West a 553532 13575/0 distance of 217.52 feet to the Beginning Point. EXCEPTING THEREFROM: That real estate conveyed by H.R.B, Associates, L.P., to The Board of Commissioners of Hamilton County, Indiana by Warranty Deed dated December 27, 1994 and recorded October 12, 1995 as Instrument No. 95 -55912 on the Office of the Recorder of Hamilton County, Indiana. ALSO EXCEPTING: That.real estate conveyed by H.R.B. Associates, L.P. to Meridian 465 Associates, L,P. by Warranty Deed dated December 27,1994, and recorded October 12,1995, as Instrument No. 95- 55913, in the Office of the Recorder of Hamilton County, Indiana, being more particularly described as follows: A. part of the Northwest Quarter of the Southwest Quarter of Section 11 , Township 17 North, Range 3 East, Hamilton County, Indiana, described as follows: Commencing at the Southwest comer of said quarter - quarter section; thence North 0 degrees 08 minutes 11 seconds West 329.50 feet along the West line of section to the prolonged South line of the owner's land; thence North 88 degrees 50 minutes 36 seconds East 45.90 feet (46.81 feet deduced from Deed Record 203, page 104) along said prolonged south line to the eastern boundary of Spring Mill Road and the point of beginning of this description; thence North 3 degrees 00 minutes 30 seconds West 136.34 feet along the boundary of said Spring Mill .Road; thence North 2 degrees 42 minutes 07 seconds West 112.1 1 feet along said boundary; thence South 89 degrees 51 minutes 15 seconds West 10.00 feet along said boundary; thence Noah 0 degrees 08 minutes 45 seconds West 337.44 feet along said boundary; thence South 17 degrees 22-minutes 00 seconds East 104.70 feet; thence South 0 degrees 08 minutes I1 seconds East 485.45 feet to the South line of the owner's land; thence South 88 degrees 50 minutes 36 seconds West 9.11 feet along said south line to the point of beginning and containing 0.291 acres, more or less. 853632 1367516 EXHIBIT "A" Sheet 1 of 1 Project: 10 -10 Parcel: 1B Temporary R/W for Parking Lot Construction Key Co.: 29- 13 -11- 000 - 036.005 -023 A part of the Southwest Quarter of Section 11, Township 17 North, Range 3 East, Hamilton County, Indiana, described as follows: Commencing at the Northwest corner of said quarter section; thence along the west line of said section South 00 degrees 00 minutes 14 seconds East 740.76 feet to the prolonged southern boundary of 103rd Street; thence along said southern boundary the following three courses, (1) thence North 89 degrees 59 minutes 46 seconds East 55.00 feet to the west line of the grantor's land; (2) thence North 89 degrees 59 minutes 46 seconds East 173.49 feet; (3) thence Northeasterly 19.72 feet along an arc to the left and having a radius of 230.00 feet and subtended by a long chord having a bearing of North 87 degrees 32 minutes 25 seconds East and a length of 19.71 feet to the west line of Parcel A described in Instrument No. 2007030140 in the office of the Recorder of Hamilton County, Indiana; thence along said west line South 00 degrees 00 minutes 14 seconds East 99.37 feet; thence North 40 degrees 03 minutes 01 seconds East 21.08 feet to the point of beginning of this description; thence continuing North 40 degrees 03 minutes 01 seconds East 95.80 feet; thence South 01 degrees 48 minutes 21 seconds East 71.01 feet; thence South 87 degrees 52 minutes 54 seconds West 63.93 feet to the point of beginning and containing 0.052 acres, more or less. This description was prepared for the City of Carmel, Indiana by Timothy J. Coomes, Indiana Registered Land Surveyor, License Number 20600004, on the (i day of 4000`1- , 2012. EXHIBIT "A" Sheet 1 of 1 Project: 10 -10 Parcel: IC Temporary IUW for Drive Construction Key Co.: 29- 13 -11- 000 - 036.005 -023 A part of the Southwest Quarter of Section 11, Township 17 North, Range 3 East, Hamilton County, Indiana, described as follows: Commencing at the Northwest corner of said quarter section; thence along the west line of said section South 00 degrees 00 minutes 14 seconds East 740.76 feet to the prolonged southeastern boundary of 103 "' Street; thence along said southeastern boundary the following three courses, (1) thence North 89 degrees 59 minutes 46 seconds East 55.00 feet to the west line of the grantor's land; (2) thence North 89 degrees 59 minutes 46 seconds East 173.49 feet; (3) thence Northeasterly 19.72 feet along an are to the left and having a radius of 230.00 feet and subtended by a long chord having a bearing of North 87 degrees 32 minutes 25 seconds East and a length of 19.71 feet to the west line of Parcel A described in Instrument No. 2007030140 in the office of the Recorder of Hamilton County, Indiana; thence along said west line South 00 degrees 00 minutes 14 seconds East 99.37 feet; thence North 40 degrees 03 minutes 01 seconds East 116.88 feet; thence Northeasterly 94.74 feet along an arc to the left and having a radius of 305.00 feet and subtended by a long chord having a bearing of North 53 degrees 00 minutes 13 seconds East and a length of 94.36 feet to the point of beginning of this description; thence continuing Northeasterly 46.72 feet along an are to the left and having a radius of 305.00 feet and subtended by a long chord having a bearing of North 39 degrees 42 minutes 57 seconds East and a length of 46.68 feet; thence South 41 degrees 00 minutes 08 seconds East 23,62 feet; thence South 36 degrees 34 minutes 07 seconds West 37.83 feet; thence North 61 degrees 37 minutes 36 seconds West 25.90 feet to the point of beginning and containing 0.023 acres, more or less. This description was prepared for the City of Carmel, Indiana by Timothy J. Coomes, Indiana Registered Land Surveyor, License Number 20600004, on the 29 day of G(/5r , 2012. 000uuu/,,,, N,•-, ••• ..5; Mey% ` O • .f {20600004n_- STATE OF URVF'',. Heim i llO° ACCEPTANCE OF ADMINISTRATIVE SETTLEMENT Virtu Meridian Associates, LLC, land owner of the property and interest in property described in Exhibit A (Parcel 1), Exhibit A (Parcel I A), Exhibit A (Parcel I B, Exhibit A (Parcel IC)), and Exhibit B (the "Owner "), hereby accepts the administrative settlement offer of a cost not to exceed amount of $687,200.00 as per the terms contained in Exhibit C, made by the City of Cannel, Indiana (the "City ") on this Z41' day of y , 2014; subject to the express condition that upon completion of that certain public improvement project entitled Illinois Street Expansion, Project 10 -10 (the "Project "), the City will restore the Owner's property to substantially the same condition and state of repair as existed prior to the commencement of the Project by, without limitation, making any necessary repairs to curbs, sidewalks, pavement and other surfaces, repairing the grade of such property and planting grass seed, hydro seeding or placing sod in a manner which is reasonably satisfactory to Owner, except as reasonably modified by the Project. All referenced exhibits are attached hereto and incorporated herein. VIRTU MERIDIAN ASSOCIATES, LLC, an Indiana limited liability company By: VIRTU COMMERCIAL, LLC, a Delaware limited liability company, its Manager By: VIRTU INVESTMENTS, L.L.C., an Arizona limited liability company, its Manager By: Scott McWhorter, Managing Member {000 4202.00a.s } NOTARY'S CERTIFICATE STATE OF (0/i fvrn,s ) ) SS COUNTY OF Ma %i I1 ) Subscribed and sworn to before me this 2 4 /Aj day of p V i, . 2014. Iv/y 4th, 20(7 County of residence: 117 0 r1n / 1F ik My commission expires TOM ROYALL Commission # 2027685 Notary Publle- California Mann County 1 '9" M/Cafon Einall/4 :2417 Signature Tom Royaif Printed ACKNOWLEDGED, ACCEPTED AND AGREED this day of , 2014. THE CITY OF CARMEL, INDIANA By: {00014202.DOCX.3 } Printed: Title: 10/08 REV -29 STATEMENT OF THE BASIS FOR JUST COMPENSATION 1. This is a written statement of, and summary of the basis for, the establishment of the amount e .• uation process, just compensation for the purchase of this right -of -way for highway purposes. The amou et fo t�•rl1r ]0 not less than the approved estimate of value. In accordance with Public Law 91 -646 as amended, the "Uni .ru"ct a codife n Indiana at IC 8- 23 -17 -1 through 8- 23- 17 -35, this value disregards any decrease or increase in fair market value of the property prior to the date of valuation caused by the public improvement for which the property is acquired other than physical deterioration within reasonable control of the owner. Code N/A 2. The legal description of this acquisition is set forth in the instrument of conveyance in the following identified parcel and this acquisition is identified in the Acquiring Agency's records as: Project Illinois Street Extension Parcel 1 Road Illinois Street City /County Carmel /Hamilton Owner(s) Virtu Meridian Associates, LLC 3. The area and type of interest being acquired: 1.475 Acre Fee Simple and 0.075 Acre Temporary The amount in Item 5 below includes payment for the purchase of all interests in the real property and no separately held interest is being acquired separately in whole or part, except as may be explained in Item 8 below. 4. This acquisition is (Check one): a. ❑ A total acquisition of the real property. b. ® A partial acquisition of the real property. 5. The Agency's Offer: Just compensation has been determined to be and the Acquiring Agency's offer for the purchase of this real property is as follows: a. Total Land, Land Improvements and Buildings $654,300 b. Severance Damages (i.e.: Setback, Loss in Value to the Residues, etc) N/A c. Other Darnages (Itemize) Cost -To -Cure estimates: N/A Temporary RAN $8,900 Total Damages $8,900 d. Perpetual Easement N/A Total amount believed to be Just Compensation offered for this Acquisition is: $663,200 6. The amount in Item 5 above may include payment for the purchase of certain buildings and improvements and their ownership shall pass to the Acquiring Agency. These buildings and improvements are identified as follows: N/A 7. The amount in Item 5 above may include payment for the purchase of certain Land Improvements, Fixtures, Equipment, Machinery, Signs, Etc., and their ownership shall pass to the Acquiring Agency. These items are identified as follows: Land improvements purchased within the area of acquisition include trees, established lawn area, asphalt drive and parking, concrete curbing and some naturally occurring undergrowth. 8. Items owned by others (i.e.: lessee, tenants, etc.) included in Item 5 above are identified as follows: N/A 9. Remarks: The portion of the irrigation system located in the area of acquisition will be paid for and coordinated separately by the City of Carmel and not included in the report. Approved for negotiations Appraiser: Signature. Name Printed: Company: Date: Monica A. Alexander Atlas Appraisals, LLC 11/30/12