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HomeMy WebLinkAboutHelen Mueller/Martin Marietta Lease Agreement 1/1/2000c STATE OF INDIANA COUNTY OF HAMILTON EXHIBIT B • LEASE AGREEMENT sa,v. 2000 THIS AGREEMENT entered into this 2 day of It, .1 44, by and between -The Helen M. Mueller Conservatorship, on behalf of Helen M. Mueller of Hamilton County, State of Indiana, herdnafter referred to as Lessor, and Martin Marietta Materials, Inc., a North Carolina corporation with its principal office in Raleigh, NC, hereinafter referred to as Lessee. WITNESSETH: - The Lessor; its successors, heirs, administrators or executors, for and in consideration of the. strm.of ONE DOLLAR the receipt of which is hereby anlcnowledged, and in further consideration of the covenants, agreements and die rentals and royalties hereinafter mentioned, does hereby lease, let and convey to the Lessee,, its successors or assigns, for the period described below all that certain tract ur parcel of land (hereinafter referred to as "the Property"), situated in Hamilton County, State of' Indiana, said tract being more particularly described as follows: SEE ATIALHEL) DESCRIPTION MARKED EXHIBIT A, INCORPORATED BY REFERENCE HEREIN LEASE L. PURPOSE AND USE. Lessee 4ha1 t have and hold the Property together with the right of quiet enjoyment and with all privileges and appurtenances >mto the Lessee for and during the full term covered by this lease from the date this lease is troughs into effect unless said term is sooner terminated as . hereinafter provided. The purpose of this Lease is to grant all rights to the Lessee.for mining, quarrying, and removal therefrom, by blasting and otherwise, deposits of rock, stone, gravel, sand, soil, limestone, minerals or earth as may exist on, in or under the Property (hereinafter collectively referred to as "Aggregate"), together with the full and exclusive right,privilege and option of the Lessee to construct, operate, or maintain mining, operate or maintain quarrying, washing, crushing and other plants, machinery, damn ponds, canals, power lines, pipe lines telephone liens, -roads, railway spur lines, stockpile areas, buildings or offices, and"any other machinery or equipment on the Property, which in the sole discretion of Lessee are required for the processing or selling of Aggregate described in this paragraph from the Property or other . landi owned or leased by -Lessee. 11. TERM The term of this lease shall be for a period of Twenty (20) years, starting from the agreement date above. . This lease may be extended, by written notice to the .Less. or, at the sole discretion of the Lessee, for four (4) additional five (5) year periods. The Lessee may terminate this lease at the end of the original lease tens or any extension thereof by giving at least one year's notice of such intention. However, it is.agreedthat this does not affect the Lessor's rights and interest in any earned royalties or payments that may be then due. PAYMENT. (a) Minimum Annual Rental. The minimum rental for each lease year that this Lease. is in force is Two Hundred Fifty Thousand Dollars ($250,000.00). All minimum rentals shall be 2 deducted from (credited against) any royalties earned during the life of the Lease. The payment for each year's minimum rental is to be made within thirty (30) clays following the end of each lease year. The parties agree that Lessee inay make a. . pro rata payment fora part.of'a year and thereafter convert to calendar years for purposes of the time di-MICnv5 herein. There is no requirement that Lessee continuously conduct quarrying artivityonthe premises or that Lessee actually remove or sell stone, sand or gravel from the premises; it being the clear understanding of the parties thatahe minimum rental fairly compensates Lessor for the use of the premises. The Lessor ma}_ make a one-time regaest for a prepayment of up to three, (3) years of minimum rental, or Seven Hundred Fifty Thousand Iiollars • (S750,000:00). This prepayment is to be used to pay potential taxes on the property and will be advanced at no interest All of this payment will be deducted front (credited against) any royalties earned and no minimum payment will be madonna]. this amount has been eamedtbrough royalties. (b) Royalty. An amount equal to Six percent (6%) of the ANSP (Average Net Selling Price), at the mine site, for each ton (2000 pounds) of Aggregate described in • Paragraph I removed and sold from the property (but not to include "stripping: or waste materials which are removed to facilitate operations as dosciibed iq Paragraph VIII, or minerals taken from other lands owned or leased by Lessee), the tonnage to be determined by scale weight, shall be paid by Lessee to Lessor. At the end of 10 years the percentage will be increased from Six percent (6%) to 3 c Six and one-half percent (6. l/2%). The payment for any earned royalties from materials sold Ls to be made within thirty (30) days from the end of the month in which such materials were removed and sold. However, it is agreed that regardless of ANSP, at no time will Lessee pay Lessor less than forty cents ($.40) for each ton of Aggregate removed and sold The Lessee agrees rhat k will pmt the Lessor and/or its agents reasonable opportunity to perforin before and after surveys and to check the Lessee's operations conducted hereunder, by examination of the operation and such records as may reasonably necessary for = Lessor to determine the amount of such materials removed and sold Lessor and/or its agents shall be allbWed to enter, the Property and fly over the Property at any lime mutually convenient for the parties., Lessor andlor its agents shall be allowed to conduct any reasonable inventory inspection or analysis to determine quantity take -offs, with the full cooperation of Lessee. Overburden or stripping - sales will be accounted for separately from stone sales, bat payment for overburden or stripping sold shall be at the same percent of ANSP (Average Net Selling Price) as for stone. The tern ANSP (average net selling price) as herein employed shatl'be • cleaned to mean the average gross return per net ton to Lessee as shown by the invoices Ilona Lessee to its customers, excluding therefrom sales and use taxes which are separatejy and distinctly shown on said invoices, transportation delivery charges, customer discounts, allowance for product returned by customers, or any other reductions in gross.revenue to the Lessee. It is farther agreed that from time to time the Lessee may need to move material from Lessee owned or controlled property under or across the Lessor's property. The Lessee shall pay Lessor a royalty of two percent (2%) of the Average Net Selling Price at the mine site for each ton (2000 pounds) of Aggregate which is mined, quarried or extracted from these other lands, and transported under or across or sold from the Property. The Lessee agrees that it will permit the Lessor and/or its agents reasonable opportunity to perform before and after surveys and to check the Lessee's operations conducted hereunder, by examination of the operation and such records as may be reasonably necessary for Lessor to determine the amount of such materials transported under or across or sold from the Property. /V. ADDITIONAL RESPONSIBIW ES OF LFSSEE; INDEMNITY OF LESSEE; RELEASE BY LESSOR The Lessee shall be responsible for attempting to obtain the vacation of Old River Road south of 106" Street, at its expense. The Lessee shall refrain from any dumping on or contaminating of the Property during the term of this Lease Agreement and any extensions thereof. The Lessee shall properly secure sad maintain the Property during the term of this Lease Agreement and any extensions thereof. The Lessee and its successors and assigns during the term_ of this lease, agree it will indemnify and save harmless the Lessor against all claims, Jets, liabilities, fines, penalties, or expenses caused by Lessees'_ -mining operation or related use of the Property. And the Lessor, for itself .its heirs, executors and assigns hereby release the Lessee and its succemors and assigns froni any.and all damages that might occur to the Property by exercising the rights set forth it. this agreement 5 V. DEFAULT • TERNINA,TION. It Ls agreed between the parties: hereto thatif and when the Lessee is proved to be in default of payment of any rentals and/or royalties due hereunder as set out in Paragraph III, Lessor may give the Lessee written notice via certified mail return receipt requested cif the amount due and its intention to terminate this lease. If such payments then due are not paid within thirty (30) days from the date on which theLessee receives such notice, the Lessor may then declare the lease terminated, but otherwise this lease is to remain in full force. VI. WARRANTY AND INDEMNITY BX•LESSQR The Lessor warrants that at the time of execution of this Lease: Helen M. Mueller is the 4 owner of the Property in fee; it has full tight to lease or sell same (subject,to Court approval as specified in Paragraph XX); and that the Property is free and clear of all encumbrances except leases of rental homes and farmland, and that (except to the extent specifically provided otherwise in this Iease) Lessee will be entitled to fill' and exclusive possession of the Property. The Lessor makes the warranties and representations set forth in E.xbibit B attached • hereto and incorporated herein. Lessor agrees to indemnify and hold the Lessee harniless against . any claim, fine, penalty, assessment, cause of'aotion, cleanup costs, or other expense incurred by or billed to Lessee arising oat of or in connection with the breach of any warranty or representation contained herein, VII. RIGHT OF REFUSAL. In the event that Lessor receives a bona fide offer to purchase all or any part of the Property -or all or any part of Lessors' property adjacent.to the leased premises, which Lessor intends to accept, Lessor shall firstoffer in writing to sell to Lessee the Property or adjacent property; or portion thereof (as the case may be), for which the offer is received, at the same price, termsand conditions as set forth in'the offer. Lessee shall have sixty (60) days from receipt of the bona fide offer in which to exercise this right of refusal. This right of refusal shall • exist during the term of this Lease Agreement and during any renewal term. This right of refusal shall also continue to exist subsequent to a failure to exercise by Lessee unless and until Lessor actually closes an the sale of the Property or part thereof Even if Lessee determines not to exercise its right of fitst refusal„ this Lease Agreement •shall be binding -on any person acquiring the leased premises (or any part thereof) dating the terin of this lease agreement (including any renewal term). VIII. S'TRLPPTNG; OVERBURDEN. - It is agreed that "stripping" or "overburden" that must be removed from the material to be . processed to commence and expand the raining operation, or material that must he leveled or removed for the building of the pinnt site, dams, roads, stockpile areas, or other areas needed for mining prnpuses, are waste material. The Lessee is granted the right without liability or payment of royalties to use the overburden or Waste material on the' Property, to give the overburden or waste material away, or to waste or stockpile it oa the Property or to remove it from the Property • to waste.or use:in themanner and by such means within the sole discretion of the Lessee it deems best. However, if Lessor gives Lesser; reasonable notice that Lessor wishes for such overburden or waste material to be placed on land which is near or adjacent to the leased premises, Lessee shall comply with such wishes, subject to obtaining the necessary permits to do SO. IX. RELATED INDUSTRIES. This Lease Agreement is made in order that the Lessee may enter on the Property for the purposes as set out in this agreement however, the parties agree that before Lessee may 7 authorize the operation of any related industry or activities on the Property winch would facilitate or increase the sale and/or marketability of the materials mentioned In Paragraph 1, Lessee must first obtain written approval of Lessor,; which approval shall not be unreasonably withheld. Lessee skin l not assign or sublet without Hist obtaining written approval ofLessor, which approval shall not be unreasonably withheld. Lessor specifically reserves the right to negotiate receipt of a portion of any revenues to be received by Lessee as a result of allowing such related industries. X. PERMITS. COOPERATION_ OF LESSOR. The Lessor agrees to assign to the Lessee any existing permits iu;its possession or constrictive possession winch are assignable and that are related to a mihing operation on the _ Property. The Lessor also agrees to take such action as Lessee may reasonably request in order to assist T resee in obtain g any additional zoning or permits required for a mining operation on the,Property, provided any expenses incurred for zoning or permitting will be borne by the Lessee: The Lessees shall obtain the written approval of Lessor of any proposed land use plan or zoning change, Mehl/flog aesthetic considerations such as mounding, and afinal configuration or mining plan, before submitting such proposal to the City of Cannel or administrativeauthorities. Such approval shall not be unreasonably withheld. XL LESSEE RIGHTS, OBLIGATIONS AFTER TERMINATION OF THE LEASE. (a) Removal off Equipment. At the option of the Lessor, Lessee shall bavt the obligation to remove any and'or all of the equipment! including rail spurs, facilities, or buildings from the 8 Property during the term of this Lease and within two (2)years after its termination. (13) Reclamation. The Lessee agrees and covenants with the Lessor that it will, at its sole expense, reclaim and refurbish the land upon which the mining operation takes place to the extent required by the federal and state mining laws and complete the reclamation witlrin two (2) years from the date this Lease is terminated. Ef required by law, prior to conducting any mining operation the Lessee will obtain all necessary federal and state licenses and permits: for conducting said quarrying operation—Compliance.with the state reclamation plan shallbe deemed compliance with the reclamation requirements of this Lease Agreement. (c) Loading of Stockpiles. Lessee shall be allowedaperiod of one (1) year during which it can remove or sell stone from any stockpiles which remain on the Property at the date of termination of this lease. During this time Lessee shall not be subject to the Minimum annual rental, but shall pay royalties as set forth in Paragraph III(b) above for stone sold. Lessee shall be allowed reasonable ingress and egress to stockpile and scale areas as needed for totaling and weighing. After this one (1) year period, stockpiles remaining shall become the property of the Lessor. XII. TAXE$. The Lessor shall pay real property taxes assessed against the Property,'in the base amount for 1999 payable in 2000. Any increase in real property taxes thereaier shall•be paid by Lessee. 9 XIIL XNt UMBRANCES. Lessor may mortgage the property. Lessor shall be required to pay when due all principal and interest due on any mortgages on the Property. In the event that Lessor fails to make such payments, then the Lessee may pay off and/or satisfy any and all mortgages or liens against the within demised premises as it deems appropriate. Such payments made on any mortgage or lien by the Leasee for the account of the Lessor may be deducted from any amounts that Wright be owed to the Lessor under the terms of this Lease. It is further understood that the Lessor will notify the Lessee of airy action that may be taken to foreclose on the Property due to any mortgage or lien not paid off by the Lessee. XIV. LESSOR'S TJSE OF LAND; TIMER RLG TTS. Notwithstanding anything herein to the contrary, Lessor reserves the right to use or Iease the farmland and rental homes on the property until notified by Lessee that Lessee intends to actively mine a certain area, and nonce shall be given by Lessee at least one hundred eighty (180) Says in advance of any mining activity in such area Lessee shall provide Lessor with its • best estimate of the year's mining plan by January In of each year, so that Lessor can plan on what use or lease arrangements should be made for farmland and rental homes. Except as limited below, Lessor reserves the rigbt,to a!1 timber products on the Property. Whenever the Lessee desires to clear a portion of the Property, it shall notify Lessor of such intent and the specific area to be cleated. Lessor shall have ninety (90) days after such notice in which to remove its timber products. All timber products which are not removed by Lessor from the area designated by Lessee within such ninety (90) day period shall become the property of Lessee, and Lessor shall have no further right to the timber products within such area; provided, 10 however, that no timber or underbrush shall be removed from the area within 300' of any property boundary without. written agreement of both parties. XV. FORCJLMA.J W E. A party will be excused from entire or part performance under this Agreement to the extent such perfomtanoe is prevented by Force Majeure, provided that the. party so affected shall give theother parties verbal notification within tweaty-four hours of the claimed Force Majeure event followed by written notice contninirg an estimate of the duration of the Force Majeure and the impact thereof The term "Force Majeure" shall include allocations, expropriations, requisitions, priprities, restraints or other acts of governmental or civil, military, or naval authsrities (whether acting legally or otherwise); Acts of God or the elements, perils or accidents IF of the sea or other waters; catastrophic failure or breakage in hall, machinery, equipment or - appliances; acts of war, hostilities, interferences of public enemies or belligerents; rebellion, civil strife, or commotions, sabotage, vandalisui or rn»lieious mischief; riots,strikes, labor disputes, or disturbances; fire or explosion; or from any cause whatsoever beyond the reasonable codtaol of the respective party (other than financial or economic incapacity), whether of the kind enumerated or otherwise, which prevents the mining, storage, loading, lransporting,.receiving or delivery of any Royalty Material. Such excuse From performance shall continue until such Force Majeure is eliminated or ceases to exist, provided the party or patties affected by such Force Majeure shalt -use commercially reasonable efforts to eliminate such cause as promptly as possible recognizing, however, that settlement of any strike or: other labor dispute shall be solely , within the discretion of the party involved in such strike or labor dispute. 11 XVI. REMEDIES. In the event that legal action is necessary by either party to enforce any provision of this Lease Agreement, the prevailing party shall be entitled to recover the expenses thereof, including reasonable attorney's fees. The laws of the state in which the subject property lies shall govern this agreement. The parties agree that the appropriate venue for any legal action shall be Hamilton County, Indiana, XVII. NOTICES. All notices sent to Lessor shall be.tnailedio boa Mr. and Mrs.. Ery Bruits and Mr. Fife Clark 11173 Hazel Deli Parkway 14333 N. Gray Road Indianapolis, IN 46280. Carmel, IN 46033 And copied to: J. Michael Antrim CHURCH, CHURCH, HrITLE & ANTRIM 938 Conner Street; F.O. Box 10 Noblesville, IN 46060 All notices sent to Lessee shall be mailed to: Mr. Robert M. Furlong Vice President & General Manager Martin Marietta Materials, Inc. P.O. Box 549 Carmel, Indiana 46032 And copied to: Ms. Paula J. Buehler Real Estate/Projects Manager Martin Meuietta Materials, inc. 780 N. Valley Road Xenia, OH 45385 12 XVIII. MEMORANDUM. The parties agree,that the Lessee 'than prepare a memorandum of fink agreement in.a form 'suitable for recordation. Both parties agree to properly execute this memorandum, and it • shall, at the option of the Lessee, be recorded. XIX. HEIRS, ASSIGNS. This Lease shall bind and inure to the benefit of the parties and their respective heirs, . successors, assigns, representatives, or executors. XX •ENTIRE.AGREEMENT. 'this Lease Agreement contains all of the agreements between the parties and no representations or statements not contained hereinshall be binding upon either party unless endorsed herein in writing. No amendment or modification to this lease nor any waiver of rights hereunder will be effective unless in.wriibag and signed by both parties. XXI. COURT APyROVALc. i It is agreed that this Lease Agreement shall not be binding upon either party until it is approved by the Hamilton County Superior Court No. I, the Court which bas jnrisdiction over the Conservatorship of Helen M. Mueller. 13 IN wr NESS WHEREOF the parties hereto have affixed their hands and seals and executed this agreement in duplicate originals the day and year first above written. Social Security Number of Helen M. Mueller 305-40-2046 Attest: R Paxton Badham Jr, Ansi ant Secretary LESSOR 4,„:„ ge-hvdc, Eric Clark, Co -Conservators Betty B • Co -Conservators Ervin Bruits, Co -Conservators MARTIN MARIETTA MATERIALS, INC. By: Stephen R Zelnak, Jr. Chairman, Presidentand CEO STATE OF INDIANA, 1 ) SS: COUNTY OF HAMILTON_) I, tr- M - tine Y M a Notary Public for and in the aforesaid Coimty do hereby certify that Eric Clark, Ery Bruks and Betty Broke personally appeared before me this day end.being by me first duly sworn .do hereby acknowledge the due execution of the forego+ng agreement for the purposes herein expressed. Witness my hand and official seal this '7 T day of !--.4 4.\/ - Signature r11 Printed S 4 n! t "\ Notary Public Residing in Hamilton County, Indiana My; Conimiasioa•Expires: Zoo j 14 1N WITNESS WITEREOF the parties hereto have axed their hands and seats and exouted this agreement in duplicate originals the day and year first above written. Social Security. Number of Helen. M- Mueller 305-40-2046 Attest: • Roe 1vv R. nn Roe 1yn Da , Corporatg Secretary STA i,L OF INDIANA I ) SS: COUNTY OF HAMILTON) LESSOR: Eric Clark, Co -Conservators Betty I3ruks, Co -Conservators Ervin Bruks, Co -Conservators MARTIN MARIETTA NIATERIAL.S, INC. Y K.90 Stephen P. Zelnak;If Chairman, President and CEO I, a Notary Public for and in the aforesaid County do hereby certify that Eric Clark, Ery Bruks and Betty Bruks personally appeared before. me this day and being by me first duly sworn do hereby acknowledge the due execution of the foregoing agreement for the purposes herein expressed. Witness my hand and official seal this day of' , 19 . My Commission Expires: Signature Printed Notary Public Residing in Hamilton County, Indiana STATE OF NORTH CAROLINA ) ) SS: COUNTY OF WAKE ) I, Margaret M. Lannen, Notary Public, do hereby certify that Stephen P. Zelnak ,Jr:, President of Martin Marietta Materials, Inc., personally appeared before me this day of being by •- Me duly sworn, says that he executed this agreement for purpose therein expressed for and in behalf of the said Martin Marietta Materials, Inc. and as its act and deed. WITNESS my hand and ofcial get, this .:7/ day of .2)-Pnrlier 14f. My Commission Expires: Signahire/1L4jy� t %7% aCL et : Printed j /)1,4€64€ 67- /il• 1.4,4a/E7U t f/-7/646° .. Residing in Wake:County, State of North Cita-162a tiAktlBI1 A "Te Prop ty" f, outlined on the ranched drawing. 'There will be no curfew mining on the six acre and nine acre parcel, shown an this Exhibit Martin Marietta Materiels, Inc. sball.fil1 Ruch parcels with appropriate quality materials to the Co-Corueraator'a reawoabia aa:isfactiw. Undergroundavmrgemcnta Under then°eik mad nine acre parcels shall be nnly by mutual agreement of the parties. ATTACHMENT 1 Part of the North half of Section 9, and part of the South half of Section 4, all in Township 17 North, Range 4 East of the Second Principal Meridian in Clay Township, Hamilton County, Indiana, described as follows: - Beginning at the Northwest comer of Section 9, Township 17 North, Range4 East of the Second Principal Meridian in Clay Township, Hamilton County, Indiana; thence South 89 degrees 55 minutes 56 seconds East (assumed bearing) on the North line of said Section 9, a distance of 3302.24 feet; thence North 00 degrees 04 minutes 04 seconds East 16.50 feet; thence.North 60 degrees 23 minutes 05 seconds • East 57.55 feet; thence North 89 degrees 50 minutes 43 seconds East 254.47 feet; thence South 81 degrees 22 minutes 39 seconds East 198.24 feet; thence North 25 degrees 45 minutes 13 seconds East 826.18 feet; thence North 21 degrees 15 minutes 23 seconds East 576.29 feet;.thence North 07 degrees 37 minutes 09 seconds East 180.00 feet to a point on a line: that:is.parallel with the South line of said Section 4, and extends Easterly from a point on the Fast line of the Southwest Quarter otsaid Section 4 that is 154.10 • feet North of the Southeast comer of the North half of said Southwest Quarter; thence North 89'degrees 55 minutes 56 seconds West on said Iine 1718.86 feet to the aforesaid point on the East line of said Southwest Quarter, being also the East line of Kingswood'Subdivision, Section -Three, a subdivision in Hamilton County, Indiana the secondary plat of which, as amended December 22, 1988, b recorded in said Recorder's Office as Instrument Number 8900204 on pages 111 and 112 of Plat Book 16; thence South 00 degrees 07 minutes 43 seconds West on the East line of said Southwest Quarter 154.10 feet to the Southeast eomer of the North half of said SouthwestQuatter; thence North 89 degrees 51 minutes 18 seconds Weston the South line of the North (calf of said Southwest Quarter 1521.03 feevto the Northeast corner of real estate conveyed to the City of Carmel, Indiana, per a Deed recorded in the Office of the Recorder of I3aniilton County, Indiana on page 865 of Deed Record 329, said corner being 1146.65 feet Eastof the Northwest corner of the South half of said Southwest Quarter; thence South 00 degrees 27 minutes 42 seconds West on.the East line of said real.estate.918.75 feet, per the aforesaid Deed, (919.89 feet by measurement) to the Southeast corner of said•real estate, said corner lying on a line that extends South 89 degrees 51 minutes 29 seconds Erut, measured parallel -with the North line of South -half of said Southwest Quarter from a point on the West line of said Southwest Quarter thatis 406.45- feet North of the Southwest corner of said Section 9; thence North 89 degrees 51 minutes'29 seconds West on said line and the Westerly prolongation thereof, a total distance of 1145.58 feet,.per the aforesaid Deed, (1144.55 feet, byineasarement) to the aforesaid point on the West line of said Southwest•Quarter, said point being also the Southwesterly comer of real estate conveyed to The City of Carmel, Indiana, by a Warranty Deed recorded in said Recorder's Office as Instrument Number 8726638; thence South OD degrees 19 minutes 51 seconds West on die West lute of the Southwest Quarter of said Section 9, a distance of 406.45 feet to the place of beginning. ATTACHMENT TRACT II The West Half of the Northwest Quarter of Section 9, Township 17 North, Range 4 East, containing 60 acres, more or less. Also: Part of the Northeast Quarter of the Northeast Quarter of Section 8, Township 17 North, Range 4 East in Hamilton County, Indiana, more particularly described as follows: Beginning at the Northeast comer of the Northeast Quarter of the Northeast Quarter of Section 8, Township 17 North, Range 4 East; thence North 90 degrees 00 minutes 00 seconds West (assumed bearing) on andalong the North line of said Quarter Quarter Section, 510.00 feet; thence South 00 degrees 31 minutes 05 -seconds East parallel with the East line.of saidQuarter Quarter Section, 220.00 feet; thence North 90 degrees 00 minutes 00 seconds West parallel with the North line of said Quartet Quarter Section, 198.00 feet; thence North 00 degrees 31 minutes 05 seconds West parallel with the East line of said Quarter Quarter Section, 220.00 feet to the Notch line of said Quarter Quarter section; thence North 90 degrees.00 minutes 00 seconds West on and along the North line of said Quarter Quarter Section 628.69 feet to the Northwest corner of said Quarter. Quarter Section; thence South 00 degrees 20 minutes 00 seconds East on and along the West line of said Quarter Quarter Section 1323:18 feet to the Southwest corner of said Quarter Quarter Section; thence North 89:degrees 59 minutes 15 seconds East an and along the South line of said Quarter Quarter Section 1340.96 feet to clic Southeastcomer of said Quarter Quarter Section; thence North 00 degrees 31 minutes 05 seconds West onand along the East line of said Quarter Quarter Section 1322.90 feet to the Northeast comer of said Quarter Quarter Section and the place of beginning, containing 39.66 acres, more or less: Except: Part of the:Northeast Quarter of the Northeast Quarter of Section 8, Township 17 North, Range 4 East of the second principal meridian, Clay Township, Hamilton County, Indiann, described as follows: Commencing at a raiiroadspike found at the Northeast corner of said Quarter Quarter Section; thence along the North line of said Quarter Quarter Section North 89 degrees 18 minutes 06 seconds West 439:23 feet to a point; thenceSouth 00 degrees 11 minutes 19 seconds West 40.00 feet parallel with the East lino of said Quarter Quarter Section to a 5/8 inch rebar with cap inscribed "RS Finn 0018" on the.South right of way line of 106th Street as described.in Institut-teat No. 95-52806, and the point of beginning of this:description; thence continuing South 00 degrees 11 minutes 19 seconds West 98.65 feet.parallel with the East.line.of said Quarter Quarter Section to a 5/8 inch rebar with said caput the edge of water; thence along said edge of water for the next seven courses: 1.) thence South 19 degrees 12 minutes 08 seconds West 14,14 .feetto a 5/B inch rebar. with said cap; 2:) thence South 35 degrees 50 minutes 23 seconds West 52:44 feet to a.5/8 inch rebar with said cap;.3.) thence South 83 degrees 16 minutes 59 seconds West 189.29 feet to a 5/8 inch rebar with said cap; 4.) thence North 84 degrees 05 minutes 58 seconds West 63.91 feet to a 5/8 inch rebar with said cap; 5.) thence North 54 degrees 44 minutes 10 seconds West 32.25 feet to a 5/8 inch rebar with said cap; 6.) thence North 13 degrees 29 minutes 11 seconds West 54.25 feet to a 5/8 inch rebar with said cap; 7.) thence North 12 degrees 15 minutes 34 seconds East 26.86 feet to a 5/8 inch rebar with said cap; thence North 45 degrees 00 minutes 00 seconds East 30.51 feet away from the said edge of water to a 5/8 inch rebar with said cap; thence North 00 degrees 11 minutes 19 seconds East 109.16 feet parallel with the East line of said Quarter Quartet Section to a 5/8 inch rebar with said cap on the South right of way line of said 106 Street thence South' 89 degrees 18 minutes 06 seconds East 52.84 feet parallel with the North line of said Quarter Quarter Section and along said South right of way line to a 5/8 inch rebar with sai d cap,'thence South 00 degrees 11 minutes 19 seconds West 180.00 feet parallel with the East line of said Quarter Quarter Section to a 5/8 inch rebar with said cap; thence South 89 degrees 18 minutes 06 seconds East 198.00 feet parallel with the North line of said Quarter Quarter Section 59 a 5/8 inch rebar with said cap; thence North 00 degrees 11 minutes 19 seconds East 180.00 feet parallel with the Fact line of said Quarter Quarter Section 569 a 5/8 inch rebar with said pap on said Soiith right of way line of 106th' Street; thence So1011•89 degrees 1.8 mutates 06 seconds East 70.77 feet parallel with the North line of said Quarter Quarter Section and along said South.right of way line to the point of beginning containing 0.823 acres, mole or less. Also, the West Half of the Northwest Quarter of Section Nine (9), Township Seventeen (17) North, Range 4 East, containing 80 acres, more or less. o412tah 2 35' am1•ncHMEerr•3, f h6lc�s� !,8/001 !han (NE GPezer% 5B, 3P8' 43- (1-3,1• ac.) Ptpu*el 4/w • r • _555' 1146 Rl'/ Prop0 cl H'Mknecl Ares Const-% '14,54/5' = . (kt (I.0"7 ac.) . -tLe 5 Eoc-ni& co" 2;20CCI1 = IS, 2"15 R' IC, RW EXHIBIT C (Page 1 o 2) EXHIBIT C (Page 2 o1 2)