HomeMy WebLinkAbout630 Rangeline Road - Purchase AgreementMEMORANDUM
TO: Diana Cordray, Clerk Treasurer
FROM: Steve E mg
DATE: August 21, 2003
RE: Sale of Property at Auction, 630 North Rangeline Road, Carmel, Indiana
During the process leading to the auction to sell referenced property, and following the
publication of the Public Notice it was determined that the successful bidder would have
a requirement to provide plans for approval by the Carmel Housing Authority. Such
plans were required to be submitted and approved within thirty days of a successful bid,
and when so approved an immediate closing would occur. This change necessitated
contacting anyone who had already received a bid package and providing him or her with
a replacement "Offer to Purchase" which articulated the requirement.
My process in responding to inquiries on the sale of this property was to keep a list of all
persons who inquired, whether telephonically, or in person. That list included date, name
and telephone conta 't information. At the time the change to the Offer to Purchase was
made, there wereindividuals who had packets that needed to be updated. I personally
contacted each of the individuals listed below and either provided a facsimile copy or
electronically transmitted a copy of the new Offer to Purchase calling specific attention to
the changes that would ultimately affect the closing date.
Bill Sanders Sr.
Don Dunkerly
Marshall Andish
Tom McHaffie
Jason Ray
Tim Moehl
J.R. Freiburger
Nick Kestner
Rachel Ross
OFFER TO PURCHASE
rteI / e/fo[41-e ked (n-, a ("Buyer") hereby
offers and agrees to purchase certain property from the Carmel Housing Authority, an Indiana
municipal corporation as follows:
1. Purchase and Sale. Seller is the owner in fee simple of certain real estate located
in Carmel, Hamilton County, Indiana, commonly known as 630 North Rangeline Road and more
particularly described on Exhibit A attached hereto (the "Property"). Seller agrees to sell, and
Buyer , as the successful bidder for the Property at an auction conducted on August 7, 2003,
agrees to purchase the Property for the price and subject to the terms and conditions hereinafter
set forth and set forth in the Resolution of Seller attached hereto as Exhibit B (the "Resolution").
2. Purchase Price. The purchase price for the Property (the "Purchase Price") shall
be Gs OtOr00 [successful bid amount which shall not be less than Forty
Thousand Dollars ($40,000.00)].
3. Payment of Purchase Price. The Purchase Price shall be paid to Seller as follows:
Upon execution of this Offer to Purchase (the "Agreement") by Buyer and Seller,
Buyer shall deposit with Seller, an earnest money deposit in the amount of Five Thousand
Dollars ($5,000.00) (the "Deposit"). The Deposit shall be in the form of a cashiers or certified
check. Such Deposit shall be held, applied, returned or retained in accordance with the terms of
this Agreement. If Buyer shall fail or refuse to perform its obligations herein specified, the
Deposit shall be retained by Seller as liquidated damages and Seller waives any claim for
damages, at law or in equity, and waives any claim for specific performance and agrees that such
liquidated damages shall be Seller's sole remedy at law or in equity. The remainder of the
Purchase Price, plus or minus any adjustments thereto, shall be paid by Buyer at Closing in cash
or other immediately available funds.
4. Due Diligence. Buyer acknowledges and agrees that prior to the auction
described in paragraph 1 hereof, Buyer had the opportunity to conduct any due diligence for the
Property deemed necessary by Buyer.
5. Taxes and Assessments. Buyer assumes and agrees to pay (a) all assessments for
municipal improvements becoming due and payable after the Closing and (b) so much of the real
estate taxes and assessments assessed against the Property becoming due and payable in
November 2003 and all real estate taxes arising thereafter.
6. Insurance and Risk of Loss. Insurance on the Property shall be canceled as of the
Closing. In the event that, prior to Closing, all or any portions of the Property, any interests
therein, or any rights appurtenant thereto are damaged or destroyed by fire or other casualty or
are taken or appropriated (either permanently or for temporary periods) under the power of
eminent domain or condemnation by any authority having such power, or by virtue of any
actions or proceedings in lieu thereof, or if any notice or threat of such taking or appropriation
has been given or is pending at the Closing, then Buyer, at its option, may either (a) cancel this
53871v2
Agreement by written notice to Seller, in which event Escrow Agent shall immediately refund
the Deposit to Buyer and neither party shall have any further obligation hereunder, or (b) elect to
proceed with Closing, in which event the Purchase Price shall (i) in the event of fire or other
casualty, be reduced by an amount equal to any sums previously paid or then payable to Seller by
Seller's insurance carrier, which sums have not been expended by Seller to restore the Property
or (ii), in the event of a condemnation or other taking, be prorated based upon the amount of
property taken by the condemning authority by reason of such taking, appropriation or action or
proceeding in lieu thereof, and Seller shall transfer and assign to Buyer at Closing any and all
further claims prorated as described herein, demands, actions and chooses in action which may
exist by virtue of such taking, appropriation or action or proceeding in lieu thereof.
7. Buyer's Plans. Within thirty (30) days of the execution of this Offer to Purchase,
Buyer shall submit to Seller, for Seller's approval, such drawings and plans as Seller shall
reasonably require with respect to Buyer's use and development of the Property ("Buyer's
Plans"). Buyer's Plans shall, at a minimum, provide for construction of a commercial building
of an architectural style which is in keeping with the existing neighborhood and current
development in the Old Town area. Any approval of Buyer's Plans by Seller shall be in addition
to and not in lieu of any other approvals or permits Buyer is obligated to obtain pursuant to
applicable federal, state and local laws, rules, ordinances, regulations and processes including but
not limited to zoning and permitting. In the event Buyer does not submit Buyer's Plans within
thirty (30) days of the execution of this Offer to Purchase or Buyer's Plans are not acceptable to
Seller in accordance with the requirements of this paragraph 7 within thirty (30) days of the
execution of this Offer to Purchase, Seller shall have the option, in Seller's sole discretion, to
allow Buyer additional time not to exceed fifteen (15) days to complete the submission and
approval of Buyer's Plans or to terminate this Agreement. In the event Seller elects to allow
Buyer the additional fifteen (15) days to submit and obtain approval of Buyer's Plans as required
herein and Buyer does not submit such revised Buyer's Plans or the revised Buyer's Plans are
not acceptable to Seller in accordance with the requirements of this paragraph 7, this Agreement
shall terminate. In the event of the termination of this Agreement, neither party will have any
rights or liabilities hereunder. Upon the termination of this Agreement, Seller shall be free, at
Seller's option, to enter into an Offer to Purchase on the same terms and conditions set forth
herein with the next highest bidder at the auction or to proceed with the sale of the Property in
another authorized manner.
8. Closing. The closing of the purchase and sale of the Property (the "Closing")
shall occur at a location selected by both Seller and Buyer, on the later of (i) ten (10) days after
the execution of this Offer to Purchase by Seller and Buyer; or (ii) the date of approval of
Buyer's Plans as provided in paragraph 7 (the "Closing Date"), unless Buyer and Seller shall
agree upon an earlier or later date for the Closing.
9. Closing Documents. At the Closing, Seller shall execute and deliver to Buyer
(a) a limited warranty deed; (b) an Indiana Disclosure of Sales Information Form; (c) a closing
statement, and (d) such other instruments, certificates or affidavits as may be provided herein or
as Buyer may reasonably request to effect the intention of the parties hereunder.
53871 2
10. Possession. Possession of the Property shall be delivered to Buyer on the Closing
Date in substantially the same condition as it is now, free and clear of the claims of any other
party.
11. Rights and Obligations. The rights and obligations of Seller and Buyer herein
contained shall inure to the benefit of and be binding upon the parties hereto and their respective
personal representatives, heirs, successors and assigns.
12. Notices. All notices required or permitted to be given hereunder shall be in
writing and delivered in person, or by certified or registered first-class prepaid mail, return
receipt requested, or by a nationally recognized overnight carrier to Seller or Buyer at their
respective addresses set forth below, or at such other address, notice of which may have been
given to the other party in accordance with this paragraph 12.
Seller:
Buyer:
Carmel Housing Authority
One Civic Square
Carmel, IN 46032
Nrlitoc n / &s/,:isz
Any notice given in accordance with this paragraph shall be deemed to have been duly given or
delivered on the date the same is personally delivered to the recipient or received by the recipient
as evidenced by the return receipt or signature acceptance.
13. Condition of Property. It is understood and agreed that the Property is being sold
"as is" "where is" and "with all faults"; that Buyer has inspected the Property; and that Seller has
made no representation or warranty as to the physical condition or value of the Property.
14. Compliance with Laws. In purchasing and developing the Property, Buyer shall
comply with all applicable federal, state and local laws, rules, ordinances, regulations and
processes including but not limited to zoning and permitting.
15. Representations and Warranties of Seller. Seller is the fee simple owner of the
Real Estate and to Seller's knowledge, no party other than Seller has any right to or title or
interest in or claim against the Real Estate.
16. Representations and Warranties of Buyer. Buyer shall develop the Property in
accordance with terms and conditions of the Resolution.
17. Survival of Representations, Warranties and Covenants. Each of the obligations,
covenants, representations and warranties of the parties hereto set forth in this Agreement shall
survive the Closing and shall not be merged in the deed or other instruments of conveyance.
53871 3
Seller.
18. Assienment. Buyer may not assign this Agreement without the written consent of
19. Complete Agreement. This Agreement represents the entire agreement between
Seller and Buyer covering everything agreed upon or understood in this transaction. There are
no oral promises, conditions, representations, understandings, interpretations or terms of any
kind as conditions or inducements to the execution hereof or in effect between the parties. No
change or addition shall be made to this Agreement except by a written agreement executed by
Seller and Buyer.
20. Authorized Signatories. The persons executing this Agreement for and on behalf
of Buyer and Seller each represent that they have the requisite authority to bind the entities on
whose behalf they are signing.
21. Partial Invalidity. If any term, covenant or condition of this Agreement is held to
be invalid or unenforceable in any respect, such invalidity or unenforceability shall not affect any
other provision hereof, and this Agreement shall be construed as if such invalid or unenforceable
provision had never been contained herein.
22. Use of Brokers. Each party represents and warrants to the other that it has dealt
with no broker, finder or other person with respect to this Agreement or the transactions
contemplated hereby. Seller and Buyer each agree to indemnify and hold harmless one another
against any loss, liability, damage, cost, expense or claim incurred by reason of any brokerage
commission or finder's fee alleged to be payable because of any act, omission or statement of the
indemnifying party. Such indemnity obligation shall be deemed to include the payment of
reasonable attorney's fees and court costs incurred in defending any such claim.
23. Attorneys' Fees. In the event that either party shall bring an action or legal
proceeding for an alleged breach of any provision of this Agreement or any representation,
warranty, covenant or agreement herein set forth, or to enforce, protect, determine or establish
any term, covenant or provision of this Agreement or the rights hereunder of either party, the
prevailing party shall be entitled to recover from the nonprevailing party, as a part of such action
or proceedings, or in a separate action brought for that purpose, reasonable attorneys' fees and
costs, expert witness fees and court costs as may be fixed by the court or jury.
24. Governing Law; Construction.
(a) This Agreement shall be interpreted and enforced according to the laws of
the State of Indiana.
(b) All headings and sections of this Agreement are inserted for convenience
only and do not form part of this Agreement or limit, expand or otherwise alter the meaning of
any provisions hereof
53871 4
(c) This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original and all of which shall constitute one and the same
agreement.
(d) The provisions of this Agreement are intended to be for the sole benefit of
the parties hereto and their respective successors and assigns, and none of the provisions of this
Agreement are intended to be, nor shall they be construed to be, for the benefit of any third party.
25. Time of the Essence. Time is of the essence for the performance of each and
every covenant contained herein.
B
Printed: ^/£ACA 1., / aj
,7 .i
Title: j'/-ogyaY –;. -4 0t
"BUYER"
ACCEPTANCE
Iref/O4AS %f 5s1NrR
The undersigned Seller accepts this Offer to Purchase, upon and subject to the
terms and conditions set for the herein.
Dated this n— day of it17c��GGST 200 �.
53871 5
THE CARMEL HOUSING AUTHORITY
By:
Printed: ? ' C' e-Z.Chtil
Title:
"SELLER"
EXHIBIT A
Commencing at a point 36 rods South of the Northeast corner of the Northeast
Quarter of Section 25, Township 18 North, Range 3 East, run thence West 12 rods
10 feet; thence South 8 rods; thence East 12 rods 10 feet; thence North 8 rods to
the place of beginning, in Hamilton County, Indiana.
Excepting therefrom:
Part of the Northeast Quarter of Section Twenty-five (25), Township Eighteen
(18) North; Range Three (3) East, more particularly described as follows, to
wit: Begin 36 rods South of the Northeast corner of the Northeast Quarter and
run West 12 rods and 10 feet; South 4 rods; East 12 rods and 10 feet; North 4 rods
to beginning.
53871
t,
AGREEMENT REGARDING USE AND DEVELOPMENT OF REAL ESTATE
This Agreement Regarding Use and Development of Real Estate is entered into this 17`s
day of October, 2003 by and between the Carmel Housing Authority ("CHA") and E. Nicholas
Kestner ("Kestner") as follows:
Subject of Agreement. Kestner was the successful bidder at an auction on August
7, 2003 (the "Auction") for the sale and purchase of undeveloped real property
located at 630 North Rangeline Road, Carmel, Indiana, more particularly
described on Exhibit A (the "Real Estate"). One of the requirements of the CHA
as set forth in that certain Carmel Housing Authority Resolution No. 001-2003,
pursuant to which the CHA authorized the sale of the Real Estate, is that the
purchaser of the Real Estate construct thereon an office building or other similar
structure and the plans for such construction be approved by the CHA. At the
Auction, Kestner executed an Affidavit Regarding Use of Real Estate which
provided in part that the successful bidder for the Real Estate would construct an
office building or other similar structure on the Real Estate and will submit its
plans for the use and development of the Real Estate for approval. Such condition
is further described in paragraph 7 of the Offer to Purchase executed by Kestner
and the CHA at the Auction.
2. Plans. Pursuant to the terms and conditions of the Resolution and the Offer to
Purchase, Kestner has delivered plans and specifications to the CHA. The CHA
has reviewed and approves such plans as are attached hereto as Exhibit B (the
"Plans"). Upon satisfactory completion of improvements on the Real Estate in
accordance with the Plans, the CHA will execute an acknowledgment, in
recordable form, that the terms and conditions of this Agreement have been
satisfied.
3. Enforcement. The terms and conditions of this Agreement shall be a covenant
that runs with the land and shall be binding upon Kestner, the CHA and their
respective heirs, devisees, successors and assigns.
4. Permits. Kestner understands, acknowledges and agrees that construction on the
Real Estate must comply with the Plans and that prior to any such construction on
the Real Estate, Kestner must also comply with all required zoning, permitting
and other municipal laws, rules regulations and procedures.
f
E. Nicholas Kestner
55405v2
CARMEL HOUSING AUTHORITY
By:
Steve Engelking, Authorized Agent and
Director of Administration, City of
Carmel
STATE OF INDIANA )
) SS:
COUNTY OF HAMILTON
Before me, a Notary Public in and for said County and State, personally appeared Steve
Engelking, by me known and by me known to the authorized agent of the Carmel Housing
Authority, who acknowledged execution of the foregoing "Agreement Regarding Use and
Development of Real Estate" on behalf of the Carmel Housing Authority.
Witness my hand and Notarial Seal this 11 day of IGTLA.la , 2003.
My Commission Expires: Ot,'
V afou G (flitted
Nottiry 'L�d'lt��li� ('1 : L5w5ex
(Princ A
ntteddlSignature)
(5 OB
My County of Residence: YlliI V(I
STATE OF INDIANA
) SS:
COUNTY OF HAMILTON
Before me, a Notary Public in and for said County and State, personally appeared E.
Nicholas Kestner, who acknowledged execution of the foregoing "Agreement Regarding Use
and Development of Real Estate" as his voluntary act and deed.
Witness my hand and Notarial Seal this 111 f3 day of UGI , 2003.viably afrubu
Notarvt— fiv, £`(t 5&r'
(Printed Signature)
My Commission Expires: Olt(� 1 `/�t r 1'
My County of Residence: fretrell farb
This instrument was prepared by: Tammy K. Haney, Attorney at Law, Bose McKinney &
Evans, 600 E. 96th Street, Suite 500, Indianapolis, Indiana 46240.
554052
EXHIBIT A
Commencing at a point 36 rods South of the Northeast corner of the Northeast
Quarter of Section 25, Township 18 North, Range 3 East, run thence West 12 rods
10 feet; thence South 8 rods; thence East 12 rods 10 feet; thence North 8 rods to
the place of beginning, in Hamilton County, Indiana.
Excepting therefrom:
Part of the Northeast Quarter of Section Twenty-five (25), Township Eighteen
(18) North, Range Three (3) East, more particularly described as follows, to
wit: Begin 36 rods South of the Northeast corner of the Northeast Quarter and
run West 12 rods and 10 feet; South 4 rods; East 12 rods and 10 feet; North 4 rods
to beginning.
53871
R.t.R FttoNT ELEVAT toU
EXHIBIT B
Page 1 of 4
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MATCH
EX. WALK
C/L RANGELINE ROAD
WEIHE Encunre s. iNL.
10505 NORTH COLLDOEAVENUE PRELIMINARY
INDL4NAPOUR INDIANA 46210
(3PI)8446611 FAX. O 84343546 PROJECT NAME:630 N. RANGELINE ROAD
Totunt rt: (800) 4524401
PRWr>S�IDEHM'WE4iB P'E'.S' PROJECT NO.: W03-0662
DATE: AUGUST 18, 2003
EXHIBIT B
Page 4 of 4
CLOSING STATEMENT
LJ wry
Seller: Carmel Housing Authority
Buyer: E. Nicholas Kestner
Property: 630 North Rangeline Road, Carmel, Hamilton County, Indiana
Closing Date: October 17, 2003
Purchase Price: $65,000.00
Less Deposit: $ 5,000.00
Total Due from Buyer at Closing: $60,000.00
Expenses to be paid by Seller at Closing:
Auctioneer (Charles W. Chaudion) $ 5,538.00
Balance Due to
Seller at Closing: $59,462.00
Buyer shall pay all real estate. taxes due and payable in November, 2003 and thereafter.
5' Xtiers, /CA—
E. Nicholas Kestner
"Buyer"
t 5,1 -:6 .off.
CARMEL HOUSING AUTHORITY
By:
teve Engelki g, Authorize ¢( Agent and
Director of Administration, City of Carmel
"Seller
Tonal City®
NationdLGity Bank of Indiana
RenGa1,<;E ,Nicholas KesCeci%
Remitter
Drawer
al GILyBank of Indiana, -I
-AUTHr 11ZED SIGNATURE
d By intednitaccikieynist Systeme lnd EnglewaoriGolrratlo•
p0 ank (Now YorkState):
I1a099 34 20-F1:0 220008 681: 68 003 7 21260 49 20a
a COPY
LIMITED WARRANTY DEED
Tax Parcel No 16-09-25-08-02-012.000
THIS INDENTURE WITNESSETH, that the CARMEL HOUSING AUTHORITY, a
municipal corporation ("Grantor"), CONVEYS AND SPECIALLY WARRANTS to E.
NICHOLAS KESTNER, an adult individual ("Grantee"), for the sum of Ten Dollars ($10.00)
and other good and valuable consideration, the receipt of which is hereby acknowledged, certain
real estate located in Carmel, Hamilton County, Indiana, commonly known as 630 North
Rangeline Road and more particularly described in the attached Exhibit A, subject to (i) taxes
and assessments due and payable in November 2003 and all taxes and assessments arising
thereafter, (ii) public rights of way, (iii) matters of record, (iv) any matters that would be
disclosed by an accurate survey or inspection of the Property and (v) terms and conditions of that
certain Agreement Regarding Use and Development of Real Estate by and between Grantor and
Grantee of even date herewith.
The warranty of title by Grantor is limited to a warranty against the acts of Grantor and
those claiming by, through or under Grantor, and not otherwise.
IN WITNESS WHEREOF, Grantor has caused this Limited Warranty Deed to be
executed this 17`x, day of October, 2003.
CARMEL HOUSING AUTHORITY
By:
Steve Engelking, Authoriz•d Agent and
Director of Administration, City of Cancel
STATE OF INDIANA
) SS:
COUNTY OF HAMILTON
Before me, a Notary Public in and for said County and State, personally appeared Steve
Engelking, by me known and by me known to the authorized agent of the Carmel Housing
Authority, who acknowledged execution of the foregoing Limited Warranty Deed on behalf of
the Carmel Housing Authority.
Witness my hand and Notarial Seal this 17 day of �% I ei5f , 2003.
Notary ��Public itii A- e{i t�
(Printed Signature)
My Commission Expires: L'S - 16- Of
r
My County of Residence: 1480 •i 1 f�vi
This instrument was prepared by: Tammy K. Haney, Attorney at Law, Bose McKinney &
Evans, 600 E. 96th Street, Suite 500, Indianapolis, Indiana 46240.
Send tax bills to: E. Nicholas Kestner a I d 9 �r� 11/9 9 tTh L(.�`�.A`mei °J (;7�R3'
55324v1
-2-
EXHIBIT A
Commencing at a point 36 rods South of the Northeast comer of the Northeast
Quarter of Section 25, Township 18 North, Range 3 East, run thence West 12 rods
10 feet; thence South 8 rods; thence East 12 rods 10 feet; thence North 8 rods to
the place of beginning, in Hamilton County, Indiana.
Excepting therefrom:
Part of the Northeast Quarter of Section Twenty-five (25), Township Eighteen
(18) North, Range Three (3) East, more particularly described as follows, to
wit: Begin 36 rods South of the Northeast comer of the Northeast Quarter and
run West 12 rods and 10 feet; South 4 rods; East 12 rods and 10 feet; North 4 rods
to beginning.
53871
LIMITED POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, That I, E. Nicholas Kestner, have made,
constituted and appointed and by these presents do make, constitute and appoint Ronald L.
Hagen my true and lawful Attorney -in -Fact, for me and in my name, place and stead, to do the
following limited acts and to exercise the following limited powers, and I intend that the same be
construed in the broadest possible manner:
1. To bid at an auction for the sale of undeveloped real estate located at 630 North
Rangeline Road, Carmel, IN 46032 (hereafter the "Real Estate").
2. To fill in any blanks, sign and execute in my name and on my behalf any
purchase agreement for the Real Estate or other instrument related thereto in the event
that my Attorney -in -Fact is the successful bidder for the Real Estate at auction.
3. In the event my Attorney -in -Fact is the successful bidder for the Real Estate at
auction, deliver or deposit with Seller of the Real Estate or its representatives any earnest
money checks required in connection with the purchase of the Real Estate.
With respect to the limited powers granted herein, it is to be understood that the authority
I have conferred to my Attorney -in -Fact in no way is intended to limit or restrict my own
authority or decision-making capabilities covering such powers and authority as long as I remain
mentally competent.
FURTHERMORE, THIS POWER OF ATTORNEY AND THE AUTHORITY I HAVE
CONFERRED AND SPECIFIED HEREIN SHALL REMAIN IN FULL FORCE AND EFFECT
UNTIL IT AUTOMATICALLY EXPIRES AND LAPSES AT 12:01 A.M. ON AUGUST 8,
2003, UNLESS REVOKED IN WRITING EARLIER.
This instrument, and actions taken by my Attorney -in -Fact properly authorized
hereunder, shall be binding upon me, my heirs, successors, assigns, legatees, guardians, and
personal representatives.
IN WITNESS WHEREOF, I have hereunto set my hand this 5th day of August, 2003.
E. Nicholas Kestner
WITNESS:
Lawrenc(J\Kemper
STATE OF INDIANA )
) SS:
COUNTY OF HAMILTON )
Before me, a Notary Public in and for said County and State, personally appeared E.
Nicholas Kestner, who acknowledged the execution of the foregoing Limited Power of Attorney.
Witness my hand and Notarial Seal this 5th day of August, 2003.
My Commission Expires:
I reside in County, Indiana
Notary Public — Prin
This Instrument Prepared By: Lawrence J. Kemper, NELSON & FRAN
East 98th Street, Suite 220, Indianapolis, IN 46280, (317) 844-0106.
H:Uanet\Kestner\630 N. Rangeline\Kestner POA 080503.doc
2
AFFIDAVIT REGARDING USE OF REAL ESTATE
The undersigned, being duly sworn and being a duly authorized agent or representative of
F_ , /J/c,+otos ,c asr-Hc ("Interested Bidder") hereby states the following:
I. Interested Bidder intends to bid at an auction for the sale of undeveloped real
property located at 630 North Rangeline Road in Carmel, Indiana (the "Real
Estate").
2. Interested Bidder understands and acknowledges that the requirements of the
Carmel Housing Authority ("CHA"), as set forth in that certain Carmel Housing
Authority Resolution dated October 4, 2002, pursuant to which the CHA has
authorized the sale of the Real Estate, contain certain terms and conditions,
including, but not limited to, a requirement the purchaser of the Real Estate
construct thereon an office building or other similar structure.
3. Interested Bidder declares and avows that, if Interested Bidder is the successful
bidder for the Real Estate at auction, Interested Bidder will construct an office
building or other similar structure on the Real Estate. Interested Bidder
understands, acknowledges and agrees that, prior to any such construction on the
Real Estate, Interested Bidder must comply with all required zoning, permitting
and other municipal laws, rules, regulations and procedures.
FURTHER AFFIANT SAYETH NOT this 7th day of August, 2003.
By: f 4‘
Printed: F.
/J!C!✓ocal g
K. S r /I L Q
Title: =/'o iv.0y
SWORN TO AND SUBSCRIBED to me this 7th day of August, 2003.
My Commission Expires:
County of Residence:
Affidavit Regarding Use of Real Estate_ doc
Notary Pu I
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CONTRACT FOR SALE OF REAL ESTATE AND PERSONAL PROPERTY
AT PUBLIC AUCTION
J 20 l�.
I ore agreemententered
unto
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or we hereby
the .+dwlro right and authority to dell •1 Pubik Am lion the following dmedbal ml vette and personal property
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REAL ESTATE
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1 ur w• •gree iMt 411 ..penia Incurred for the •dvertbement, promotion and oonduellng said Aucden ea .ban agreed, shall be pald
from the pr ads of laid Auction, end aid expenseshell be Rot deducted therefrom before payment du'd Venus and Ram.
This mntrect b enforc.able without mid from valuation and ',preferment tampeenwelliner
hereo1 CO MO haw f am made by m� a the
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understand the O knowledge; let hh worrier cos. thereof; r we further ntains ata este nutt the tnts
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entire averment of the parties.
It b mutes f iYi het this co tract b binding and obltgat
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Representative Addrev
The undersigned nwpo this Auction Contract and epees to thereto', thereof lhir
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Listing Agent \_
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Telephone Telephone
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** TOTAL PRGE.02 **
NOTICE TO BIDDERS
INTERESTED IN CERTAIN REAL ESTATE
LOCATED IN THE CITY OF CARMEL
HAMILTON COUNTY, INDIANA
The Carmel Housing Authority will conduct an auction for the sale of certain
undeveloped real estate located at 630 North Rangeline Road, Carmel, Indiana which is
Tax Parcel No. 16-09-25-08-02-012.000 and is legally described as follows:
Commencing at a point 36 rods South of the Northeast corner of the
Northeast Quarter of Section 25, Township 18 North, Range 3 East, run
thence West 12 rods 10 feet; thence South 8 rods; thence East 12 rods 10
feet; thence North 8 rods to the place of beginning, in Hamilton County,
Indiana.
Excepting therefrom:
Part of the Northeast Quarter of Section Twenty-five (25), Township Eighteen
(18) North, Range Three (3) East, more particularly described as follows,
to wit: Begin 36 rods South of the Northeast corner of the Northeast Quarter
and run West 12 rods and 10 feet; South 4 rods; East 12 rods and 10 feet;
North 4 rods to beginning.
The auction will take place at 5:30 p.m., Indianapolis Time on the 7th day of
August, 2003, at 630 North Rangeline Road, Carmel, Indiana.
Additional information about the real estate is available from Steve Engelking, One
Civic Square, Carmel, Indiana, 46032, (317) 571-2401.
Interested bidders may inspect the real estate during normal business hours
upon (i) written notice to Steve Engelking, One Civic Square, Carmel, Indiana, 46032,
(317) 571-2472; and (ii) execution and delivery_of_aleleasa,And.emaification-and-hold
harmless agreement available from Steve Engelking, One Civic Square, Carmel,
Indiana (317)-571-2401. All inspections will be conducted at such bidder's expense.
Inspections must be completed by 5:00 p.m. on August 6, 2003.
Interested bidders must execute an affidavit at the auction, prior to bidding,
affirming such bidder's intent to use the real estate in accordance with the requirements
of that certain Carmel Housing Authority resolution dated October 4, 2002, a copy of
which is included with the real estate information package described herein.
53453v3
The minimum bid accepted at the auction will be Forty Thousand Dollars
($40,000.00). The successful bidder must be prepared to make a deposit in the amount of
Five Thousand Dollars ($5,000.00) in escrow at the completion of the auction and have the
remainder of the purchase price available at closing, in cash or other immediately available
funds. Such deposit must be in the form of a cashiers or certified check. The successful
bidder must execute the Offer to Purchase which is included in the real estate information
package described herein. Closing will occur not later than ten (10) days after the auction
is completed. No additional due diligence period will be given after the auction is
completed. The successful bidder will be responsible for real estate taxes due and
payable in November, 2003 and all real estate taxes and assessments arising thereafter.
The property will be transferred "as is" "where is" and "with all faults". The Carmel
Housing Authority makes no representation or warranty as to the physical condition or
value of the property.
53453v3