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HomeMy WebLinkAboutClosing Documents Illinois Street - Greg Small Administrative Settlements (2 docs)• 2•d ADMINISTRATIVE SETTLEMENT THIS ADISTRATIVE SETTLEMENT AGREEMENT ("Agreement') is executed as of the 2» TM day ofJuly, 2006, by the City of Carmel, Indiana (the "City"), by the City of Carmel Engineer and Meridian Park. L.P WHEREAS, the City, in connection with the extension of Illinois Street north of 116i6 Street, Hamilton County, Indiana, filed an eminent domain action in Hamilton County Superior Court 1 against Meridian Park (Cause No.29D01- 0601 -MI -028) ("Litigation"); WHEREAS; the City and Meridian Park have met and have agreed to settle the above described Litigation pursuant to the terms of this Agreement. NOW. THEREFORE, in consideration of the mutual covenants, promises, and agreements contained herein, the parties hereto agree as follows: Section 1. Payment. The City shall pay the Meridian Park the amount of $210,200. Such payment will be made on or before September 1.2006 Section 2. Litization: The parties will dismiss, with prejudice, the above captioned litigation costs paid. Section 3. Quitclaim Deed: The Meridian Park shall provide City with a quitclaim deed, In addition, appropriate W9's will be sent to the City and the Meridian Park shall obtain a release of lien from Home Federal Savings Bank. Meridian Park acknowledges that the City may enter on to their property in order to begin construction of the roadway extension. Section 4: Miscellaneous: a) The parties agree that this Agreement constitutes the entire agreement between them, and that such Agreement may only he modified by written agreement of the parties. b) This Agreement may be signed in counterparts. each of which shall he deemed to be an original but all of which shall constitute one agreement. c) This Agreement shall be governed, construed and enforced in accordance with the laws of the State of Indiana, without regard to its conflict of law provisions d) Unless otherwise specified, and notices, demands or other communications required or permitted hereunder shall be in writing and be deemed to have been duly given if mailed by 1 bOLS-SLS-LIE XHd 13C83SH1 dH WHED:oI 9002 02 InC If to the City If to the: registered or certified mail, return receipt requested, addressed as follows: Mr. Michael McBride City of Carmel Engineering Office One Civic Square Cannel, IN 46032 Meridian Park, L.P. C!O Stephen Backer, Esq. 8710 North Meridian Street Indianapolis, LN 46260 e) In the event of any litigation to enforce the terns of the Agreement, the prevailing party shall be entitled to reasonable attorney's fees and costs. f) This Agreement shall be binding upon and shall insure to the benefits of the City and the Pahuds and their respective successors and assigns. g) All parties shall comply with all applicable statutes, laws, ordinances, regulations, orders, decrees and rules of all governmental authorities in satisfying their obligations under this Agreement h) No failure on the part of the non -breaching party to enforce the terms of the Agreement in the event of a breach hereof shall be construed as a waiver of such breach or as a waiver of future breaches. In the event that the non -breaching party waives a particular breach, such waiver shall not be deemed to be a waiver of any other breaches. i) All of the recitals set forth above are incorporated herein by this reference. j) This Agreement does not create any agency or employment relationship. partnership, joint venture or co -venture between City and the Pahuds. k) Each of the parties agrees that, in its respective deaiines with each other arising out of or relating to this Agreement (including any negotiations), it has and shall act fairly and in good faith. e'd frOLS-SLS-LTE XUJ l3ra3S111 dH WHEO:OI sOoz oz Inc Jul 20 2006 10:03AM HP LASERJET FAX 317-575-5704 a12Q ,9Z 4LgIVG p' 72- hz -L rl'1 `Naga TIBT1-1911 -aap)i'a°JW L 17 yayy azf6 p.4 0 Q ADMINISTRATIVE SETTLEMENT TIIIS ADMINISTRATIVE SETTLEMENT AGREEMENT("Agreement") is executed as of the _ (o day of July, 2006, by the City of Carmel, Indiana (the "City"), by the City of Carmel Engineer and Greg M. Small ("Small"). WHEREAS, the City, in connection with the extension of Illinois Street north of 116th Street, Hamilton County, Indiana, filed an eminent domain action in Hamilton County Superior Court 1 against Small (Cause No.29D01- 0601 -MI -027) ("Litigation"); WHEREAS: the City and Small have inet and have agreed to settle the above described Litigation pursuant to the terms of this Agreement. NOW, THEREFORE, in consideration of the mutual covenants, promises, and agmements contained herein, the parties hereto agree as follows: Section 1. Payment. The City shall pay the Small the amount of Four Hundred Fifty Thousand Dollars ($450,000) no later than August I, 2006. Section 2. Roadway Construction. The City, at its expense, will grade Small real estate located east of the new brick wall that Small is constructing. Such grading will be designed to allow water to drain from the brick wall to the new road's drainage system. The City will seed such area after grading is completed. In addition, the City will attempt to preserve the groups of trees located in such area between the new brick wall and the new road's right of way at the northern most portion thereof near Pahud property. Small acknowledges that such trees may not survive the construction of the new road; in such event, Small will not have any claim against City. Small will be responsible for any maintenance and cutting etc., of the new grass parcel. Section 3. Litigation: The parties will dismiss, with prejudice, the above captioned litigation costs paid. Section 4. Quitclaim Deed: The Small shall provide City with a quitclaim deed. In addition, appropriate W9's will be sent to the City and the Small shall obtain a release of lien in respect of any mortgages on the conveyed property. Small acknowledges that the City may enter an to their property in order to begin construction of the roadway extension. Section 5: Drainage Easement, Repairs. The City agrees that the storm water drainage pipe to be installed within the storm water drainage easement running east and west on Lot 9 shall be subterranean and not exposed to the surface. l • • Section 6. Miscellaneous_ a) Unless otherwise specified, notices, demands or other communications required or permitted hereunder shall be in writing and be deemed to have been duly given if mailed by registered or certified mail, return receipt requested, addressed as follows: if to the City: Mr. Michael McBride City of Carmel Engineering Office One Civic Square Carmel, IN 46032 If to Small: Mr. Greg Small 12441 Crcekwood Lane Carmel, IN 46032 b) The parties agree that this Agreement constitutes the entire agreement between them, and that such Agreement may only be modified by written agreement of the parties. c) This Agreement may be signed in counterparts, each of which shall be deemed to be an original but all of which shall constitute one agreement. d) This Agreement shall be governed, construed and enforced in accordance with the laws of the State of Indiana, without regard to its conflict of law provision. e) In the event of any litigation to enforce the terms of the Agreement, the prevailing party shall be entitled to reasonable attorney's fees and costs. f) This Agreement shall be binding upon and shall insure to the benefit of the City and Small and his respective successors and assigns. g) All parties shall comply with all applicable statutes, laws, ordinances, regulations, orders, decrees and rules of all governmental authorities in satisfying their obligations under this Agreement. 2 o Q h) No failure on the part of the non -breaching party to enforce the terms of the Agreement in the event of a breach hereof shall be construed as a waiver of such breach or as a waiver of future breaches. In the event that the non -breaching party waives a particular breach, such waiver shall not be deemed to be a waiver of any other breaches. i) All of the recitals set forth above are incorporated herein by this reference. j) This Agreement does not create any agency or employment relationship, partnership, joint venture or co -venture between City and Small k) Each of the parties agrees that, in its respective dealings with each other arising out of or relating to this Agreement (including any negotiations), it has and shall act fairly and in good faith. CITY OF CARMEL 27 -7 - Michael T..McBride , 2/ 5- . _ M Greg M. triall Jow 7, 2C06 Date -1 ld 14 f co -6 Date 3