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HomeMy WebLinkAboutRegan Settlement AgreementSTATE OF INDIANA ) )SS: COUNTY OF HAMILTON ) IN TIKE HAMILTON COUNTY SUPERIOR COURT NO. 2 FRANK KELLS REGAN, ) Plaintiff ) ) ) CITY OF CARMEL, ) Defendant ) CAUSE NO. 29D02-0103-CP-134 CONDITIONAL SETTLEMENT AGREE1VIENT Come now the parties in person and by counsel and enter into this Conditional Settlement Agreement. The signatories hereto represent and warrant that they have the personal and/or corporate authority necessary to bind such party to the terms hereof. !- Definitions, The parties agree that in the context of this Agreement, the following words and/or phrases shall have the meanings set forth herein: "Illinois Street Extension" shall refer to and mean that street or road to be constructed by the City over and across the Real Estate in the location set forth in the exhibits attached. "Pumping Station Parcel" shall refer to the parcel within the Real Estate consisting of .795 acre as described in Exhibit A, attached hereto and made part hereof, which is to be separately conveyed to the City upon the execution of this Agreement; "Planning and Zoning" references shall mean any procedural activity required in connection with the development of the Real Estate by virtue of the Zoning Code of the City; "Pipeline" shall refer to the length of the Shell Oil Company pipeline which hms through the Real Estate; "Real Estate" shall mean the Real Estate owned by Regan which is the subject matter of this lawsuit located in Clay Township, Hamilton County, Indiana, and consisting of approximately 38 acres; "Remnant Parcels" shall mean those parcels, if any, that remain outside the portion of the Real Estate to be acquired by the City, lying between the Illinois Street Extension and U.S. 31, which because of the location and nature of the construction of the Illinois Street Extension shall be either inaccessible or unusable. "Regan" shall mean Frank Kells Regan, the plainfiffand the owner of the real estate which is the subject matter of this Agreement; "Residue" shall mean the portion of the Real Estate remaining after the sale to Carmel contemplated in this Agreement for the Illinois Street Extension; "Right-of-Way" shall mean any portion of the Real Estate which is being acquired and/or dedicated for use by the City for road and street purposes, utility location and/or other public purposes. Within this Agreement, reference to "Right-of-Way" may be abbreviated "ROW" "The Project" shall mean that contemplated development of buildings and other improvements on the Residue o£the Real Estate. The design and construction of the Illinois Street extension is not part of The Project. 2. Settlement of Pending Lawsuit. It is the intent of the parties that the lawsuit now pending in this caption be fully and completely resolved by virtue of the agreements set forth hereafter subject only to performance of the undertakings set forth herein. Recognizing that certain elements of the Agreement will not be accomplished for a period of time, the parties agree that the lawsuit may be dismissed without prejudice and subject to re-docketing in the event that there is a failure to undertake any executory element of this Agreement as required herein. In the event of re-docketing, the parties agree that they shall resume the status of the case "as is" and that there shall be no prejudice to either party relative to the remaining matters to be resolved within the litigation. The City of Carmel agrees by its execution of this Agreement to waive any objection that might otherwise arise because of the tolling of the statute of limitations in the event that the case is redocketed because of a breach. In the alternative, the parties may let the case remain in a pending status with no activity to occur so long as the requirements of the executory agreement are being fulfilled. 3. Conveyance of .795 Acre for pumping Station. In consideratio ~n of the payment of Two Hundred Seventy Eight Thousand Two Hundred and Fifty Dollars ($278,250.00) which is an amountequal to $350,000.00 per acre for that parcel of real estate described in Exhibit A, attached hereto and made part hereof, consisting of.795 acres (which represents the parcel of real estate to be used for a pumping station) from Cannel to Regan at closing, Regan agrees to immediately convey the parcel of real estate described in Exhibit A to Carmel from the entire real estate which is the subject of this lawsuit, subject only to rights-of-way of record, for use by Carmel as a site for a pumping station. The City may pay said sum in two installments with the balance due carrying simple annual interest of 5% until paid in full and, in no event, shall the second installment be paid later than January 30, 2004. In addition to the cash consideration provided for herein, Carmel agrees additionally as follows with respect to such conveyed parcel: a. The site of the tract shall be subject to the approval of Regan. The site identified on Exhibit A is pre-approved by Regan; b. The site shall be located as set forth in Exhibit A; c. The design, construction and landscaping shall be undertaken by Carmel in a manner that is satisfactory to Regan and the approval thereof by Regan shall not be unreasonably withheld. Carmel agrees to provide Regan with a site plan and architectural elevations of the proposed improvement for his written approval before construction is commenced. The parties anticipate that this conveyance shall be accomplished immediately following the execution of this Agreement and, if necessary, Regan agrees to provide a written Right of Access to Carmel which shall enable Carmel to undertake initial field work on the site prior to the completion of the conveyance. Carmel agrees that it shall cause this matter to placed on the agenda of the Board of Public Works and Safety of the City of Carmel at its earliest opportunity and to cause the adoption of an appropriate resolution authorizing the acquisifio~ofthe tract provided for herein at the cost specified. Failure of Carmel to adopt such a resolution within thirty (30) days of the execution of this Agreement shall be considered a breach of the Agreement and it shall thereafter be void, 4. Dedication of Additional Right-of-Way on 136th Street. Regan agrees to dedicate to the City of Carmel an additional 28.5 feet of ROW on and along the north side 0fthe Real Estate for the length of its ad.~acency to 136th Street thus providing a total of 45 feet of ROW to the canterline of 136~' Street. This provision is premised upon the existence of 16.5 feet of existing ROW. In no event shall the entire additional dedication extend the ROW more than 45 feet south of the centerline of 136th Street. 5. US 31 "Build To" Line. Carmel agrees that the "build to" line provided for in the Zoning Code of the City of Carmel from US 31 shall reflect the new ROW being dedicated to and/or acquired by the City of Carmel from Regan along the entire length of the Real Estate where it borders US 31. In this regard, it is the intent of the parties that Regan and/or his successom in interest shall not have a new "build to" line created by virtue of the construction of the new road contemplated by this Agreement but that the building line shall be from the US 31 ROW line. Regan agrees that the applicable "build to" line along the north side of the new ROW for the Illinois Street Extension is 20 feet. The City does not warrant that by providing for the "build to" line as defined herein, that Regan can construct buildings at said line because of the existence of the pipeline at its current location. 6. Obligation to Purchase Right of Way and Construct a New Street The City of Carmel agrees to purchase at the then Fair Market Value, as that shall be determined pursuant to the provisions of this Agreement, a portion of the Peal Estate consisting of approximately 3.570 acres. The caleuiation of this acquisition is premised upon the following considerations: The total ROW to be acquired shall be v_inety (90) feet in width and Regan shall contribute 40 feet of such ROW from the north side of the total ROW to the City of Carmel by dedication free of any additional consideration other than the Agreements set out herein. Carmel shall compensate Regan for the remaining 50 feet of ROW along the south side of the total ROW for the length of the ROW across the Real Estate from border to border, an approximate length of 3,120 feet. The precise location of the ROW shall be subject to the approval of Regan which shall not be unreasonably withheld. The parties acknowledge that the final determination of the exact dimensions of the ROW shall be made at the time fmal construction drawings are approved and the affect of such exact dimensions shall be taken into account in the ealcuiation of the purchase price provided for herein. The parties currently contemplate that the ROW shall be located in accordance with certain drawings that establish the new ROW to adjacent to the existing ROW line for US 31 all as depicted in the drawing attached hereto, made part hereof and marked Exhibit B. In regard to this provision, the following conditions shall apply: Timing of Closing: Dedication and/or conveyance of the entire KOW as described above and payment of the cash consideration due Regan therefore, shall occur upon the first of the following: i. Five years from the date of this Agreement; ii. Completion of the financing to be accomplished by the City of Cannel in the follow'rog manner: a. Within 6 months of the receipt of the Project Plan, the City shall have executed a contract for the design and construction engineering that shall be necessary to the construction of the Illinois Street Extension from property line to propef~y line across Regan's real estate; b. Within 6 months of the receipt of the Project Plan, the City shall initiate financing for the construction of the Illinois Street Extension across Regan's real estate. It is understood and agreed by and between the parties that the City may utilize a Tax Increment Financing procedure to generate the funds contemplated for this project and that the project itself may include elements in addition to the improvements to be constructed on Regan's real estate. However, the decision on the methodology or the design elements beyond Regan's real estate are within the entire control of the City of Carmel. c. Bid letting on the Illinois Street Extension, acceptance of bid(s), and the commencement of construction shall proceed in continuous sequence from the date upon which the City authorizes the procedure for financing the road construction project as contemplated above. In this regard, it is understood and agreed that the City shall act with all deliberate speed as to those matters within its control in connection with the financing and construction of the Illinois Street Extension from and after the obligation to proceed arises as set out above. Remnant Parcels. The parties acknowledge that based upon the drawings attached hereto and made part hereof, which show the location of the ROW to be dedicated and/or conveyed and sold to Carmel, that there will be two remnant parcels. With regard thereto, Regan agrees that he shall dedicate the remnant at the northeast comer of the ROW to the City of Cannel without additional cost. As to the remnant at the southwest comer of the Real Estate, Carmel shali purchase such Real Estate at it's then Fair Market Value as defined herein. With regard to the remnant parcels, the parties acknowledge and agree that the exact dimensions thereof shall be determined at the time the final construction plans are approved, and appropriate adjustments to the purchase price shall result therefrom. Determination of Fair Market Value. The parties agree that the acreage to be acquired and paid for by thC City of Carmel from Regan shall be valued at the time of the conveyance provided for above. The means of valuation shall be as follows: Each party (Regan and the City) shall select a qualified independent fee appraiser. The two so selected shall then select a third independent fee appraiser. The three so selected shall then determine the Fair Market Value of the unimproved acreage. If two of the three so selected shall agree upon a value, that shall be the Fair Market Value by def'mition and the parties shall be bound by such determination withom recourse. The cost of the appraisers shall be equally divided between the parties. Related Infrastructure Issues. The parties acknowledge and agree that there are common infrastructure issues related to the construction of the Illinois Street Extension and the development of the residual real estate owned by Regan. In this regard, the parties agree as follows: Pipeline. The parties agree and acknowledge that there is a pipeline which extends across the Real Estate owned by the Shell Pipeline Company, LP. With regard to the potential or probable relocation of such pipeline, the parties agree as follows: If the Illinois Street Extension project proceeds before Regan or his successors commence construction on the residual real estate, the City agrees that, if the construction of the Illinois Street Extension necessitates a relocation or other adjustment of the pipeline, such relocation or adjustment shall be at the City's expense. It is expressly agreed and understood that the pipeline relocation, if it is necessary, extends to area's on the Real Estate which shall remain titled to Regan (the residue) after the acquisition by the City as well as relocation required within the acquired area. If Regan or his successors commence construction of improvements on the residual real estate prior to the cormuencement of the contraction of the Illinois Street Extension project, and a relocation of the pipeline is required for such construction, it shall be at the expense of Regan or his successors. If the City and Regan or his successors are preparing for the joint development of the Illinois Street Extension and the development of Regan's residual real estate, they shall divide the cost of relocation in accordance with the linear feet of relocation required relative to their respective parcels. The City agrees that in any of the foregoing events, that an easement shall be reserved within the ROW for the placement of the pipeline in the event of its relocation or adjustment ail in accordance with the easement described for that purpose on Exhibit B to this Agreement. Storm Water. The City agrees that it shall make specific provision in the design and construction of the Illinois Street Extension project to ailow for and facilitate the natural flow of storm water and surface water nm-off by providing an outlet under said new road at the location identified on Exhibit B. The City agrees that said storm and surface water outlet shail be designed and installed at a capacity sufficient to provide for the drainage from the residual reai estate owned by Regan. ii. Illinois Street Improvements. The City agrees that it shail confine all of the improvements related to the Illinois Street Extension to the area of the ROW purchased and/or dedicated to the City. This provision is not intended to prevent the City from acquiring temporary ROW during construction of the Illinois Street Extension, if necessary. iii. Curb Cuts. The City agrees that Regan or his successors shall be permitted no fewer than the curb cuts onto the Illinois Street Extension as are currently illustrated and shown on Exhibit B. 7. Reservation of Property Rights. The parties acknowledge and agree that is the intent of the parties that the project to be developed on the residual property owned by Regan, which remains after the dedication, saie and conveyance of the ROW provided for herein, shail conform to the existing ordinances of the City of Carmel It is understood that Regan or his successors or assigns have the right to request modifications to the existing zoning. The City acknowledges that Regan has the right to use the residual reai estate in any manner that conforms to the existing ordinances and regulations of the City and the City will issue permits for a proper Project after ail applications are duly submitted, reviewed and approved by the City's zoning and planning officials. In addition, the City acknowledges that Regan or his successors have the right to seek such additionai zoning approvais or zoning modifications that they may wish to pursue. Regan may submit such applications as are required to determine the feasibility of the development of the residual property of Regan and in order to establish that a Project Plan, as contemplated by this Agreement, is acceptable to the City for the purpose of initiating the obligations of the City to acquire and construct the Illinois Street Extension and in such event the City agrees to give appropriate consideration to such applications. This provision shall not be read to impose an obligation on the City to approve such applications. 8. Option to Reaquire a Portion of the Pumping Station Parcel. The parties agree that Regan shall retain an option to reaquire that portion of the Pumping Station parcel identified in Exhibit A consisting of 0.258 acres for an mount to be calculated in accordance with the following formula: The total acreage identified on Exhibit A divided by the total purchase price times 0.258 acres. In addition to the Option Price provided for in this paragraph, Regan shall pay 5% simple annual interest on said sum from the date of execution hereof until the date the Option is exercised. Exercise of the Option is strictly conditioned upon Regan providing a dedicated access to the remaining portion of the Pumping Station Parcel by other means adequate to the needs of the City. IN WITNESS WHEREOF, the parties have executed this Agreement this ., 2003. day of Frank K. Regan, Plaintiff CITY OF CARMEL Attest: Defendant Approved and adopted this I ~,44-~ day of CARMEL BOARD OF PUBLIC WORKS AND SAFETY By: James Brainard, Presiding Officer Dat · _ ~ M~u'y A~ Burke.%_Men/b,er Lori S. ~Vatson.//~ember/ ~ Date: [ //' rl llfivlD3 Diana L. Cordray~gAMC, Clerk-Treasurer Date: ,2003. Mid'States nGint3 flln6 $tlee~ ~ of ? 970 Logan Street, Suite 202 Noblesville, IN 46060 (317) 776-8665 Phone (317) 776-8666 Fox 122-0081 TLK .5/10/05 N88~35,23. E 136th STREET Z BENTLEY OAKS SUBDIVISION ~rwne. d .b~v~ 45.00 S88o35,23"VV 77,72 N88°35'23"E 0,537 Ac. ~ ~ 23,400 Sq. Ft. ~ ~ ITl S88°35'23"W EI1GII1EERII1G 970 Logan Street, Suite 202 Noblesville, IN 46060 (3J. 7) 776-8665 Phone (3}.7) 776-8666 FAX www. mid-stateseng.com 122-0081 TLK 3/27/03 LAND DESCRIPTION Proposed Pump Station Site ~, Village Drive East and 136th Street, Carmel, Indiana Part of the Northeast Quarter of Section 26, Township 18 North, Range 03 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northeast corner of the Northeast Quarter of Section 26, Township 18 North, Range 03 East; thence on the North line of said quarter section, South 88035'23'' West (assumed bearing) a distance of 1005.89 feet to the POINT OF BEGINNING of the herein described real estate; thence South 01024'37'' East 250.00 feet; thence parallel with the North line of said quarter section, North 88035'23'' East 85.00 feet; thence South 01024'37'' East 180.00 feet; thence parallel with the North line of said quarter section, South 88035'23'' West 130.00 feet to the Southeast corner of Bentley Oaks, a subdivision in Hamilton County, Indiana, the plat of which is recorded as Instrument Number 9115494, Plat Cabinet 1, Slide 170 in the Office of the Recorder of said County; thence on the East line of said subdivision, North 01024'37'' West 430.00 feet to the Northeast corner of said subdivision, said corner being on the North line of the said Northeast Quarter section; thence on the North line thereof, North 88035'23'' East 45.00 feet to the POINT oF BEGINNING; containing 0.795 acres, more or less. 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W A N m m m m N N b lAJ N O O N A O s A N O 41 [.? + _ J Z V O V A 4) O m m O n 1 m m Se m T ? m m m PARAGAAP? 4 EYtlI?IT . 122-0081 Sheet 2 of 2 LAND DESCRIPTION Proposed 45-Foot Right-of-Way Along South Side of 136th Street Part of the Northeast Quarter of Section-26, Township 18 North, Range 03 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest corner of the Northeast Quarter of Section 26, Township 18 North, Range 03 East; thence on the North line thereof, North 88035'23" East (Basis of Bearing from Plat of Bentley Oaks), a distance of 1611.43 feet to the Northeast corner of Bentley Oaks, a subdivision in Hamilton County, Indiana, the plat of which is recorded as Instrument #9115494 in the Office of the Recorder of said County, said corner being the POINT OF BEGINNING of the herein described real estate; thence continuing on the North. line of said quarter section, North 88035'23" East 947.98 feet to a point on the westerly right-of-way line of a proposed round-about at the intersection of Oakridge Road, said point being on a non-tangent curve concave easterly, having a central angle of 27°47'51" and a radius of 95.00 feet; thence southerly and southeasterly, on and along said non-tangent curve an arc distance of 46.90 feet (said are being subtended by a long chord bearing South 15°38'20" East 46.42 feet) to a non-tangent line; thence on a line, which is parallel with and 45.00 feet by perpendicular measurement South of the North line of said quarter section, South 88°35'23" West 959.39 feet to a point on the East line of the aforesaid Bentley Oaks; thence on said East line, North 01024'37" West 45.00 feet to the POINT OF BEGINNING; containing 0.983 acres, more or less. y .O9 'EZZ/ 3.7E .B1 .00S Z N \ A9 N N \ NmO mmO 210 ?? 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AXHtsrr s -/ 122-0081 Sheet 2 of 3 LAND DESCRIPTION Residual Area #A Along Southwest side of Subject Tract Part of the Northeast Quarter of Section 26, Township 18 North, Range 03 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest corner of the Northeast Quarter of Section 26, Township 18 North, Range 03 East, being the Northwest corner of Bentley Oaks, a subdivision in Hamilton County, Indiana, the plat of which is recorded as Instrument #9115494 in the Office of the Recorder of said County; thence on the West line of said subdivision and the prolongation thereof, South 00118'34" East 1123.89 feet to the POINT OF BEGINNING of the herein described real estate; thence North 66 degrees 34 minutes 57 seconds East 51.33 feet to the Point of Curvature of a curve, concave southerly, having a central angle of 12059'00" and a,radius of 625.00 feet; thence easterly on and along said curve, an arc distance of 141.63 feet (said arc being subtended by a long chord bearing North 73004'27" East 141.32 feet); thence North 79 degrees 33 minutes 57 seconds East 620.71 feet to the point of curvature of a curve, concave northerly, having a central angle of 08°59'55" and a radius of 715.00 feet; thence easterly on and.along said curve, an arc distance of 112.29 feet.(said arc being subtended by a long chord bearing North 75°04'00" East 112.17 feet) to a point on the South line of land described in a deed to Frank K. Regan, the deed of which is recorded in Deed Book, 350, page 582 in the Office of the Hamilton County Recorder; thence South 70 degrees 34 minutes 03 seconds West 141.60 feet along said South line to the point of curvature of a curve, concave southeasterly, having a central angle of 12°43'10" and a radius of 2436.83 feet; thence on and along said curve and said South line an arc distance of 540.97 feet (said arc being subtended by a chord bearing South 64°12'28" West 539.85 feet); thence South 88 degrees 37 minutes 32 seconds West 281.17 feet to the Southwest corner of said Regan; thence North 00 degrees 18 minutes 34 seconds West 85.88 feet to the POINT OF BEGINNING; containing 1.693 acres, more or less. 122-0081 Sheet 3 of 3 LAND DESCRIPTION Residual Area "B" Along East Side of Subject Tract Part of the Northeast Quarter of Section 26; Township 18 North, Range 03 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest corner of the Northeast Quarter of Section 26, Township 18 North, Range 03, East; thence on the North line thereof, North 88135'23" East (Basis of Bearing from Plat of Bentley Oaks), a distance of 2662.32 feet to the Northeast corner of the said quarter section, also being the Northwest corner of the Northwest quarter of Section 25 in said township and range; thence on and along the North line of said Northwest quarter North 88021'51" East 37.71 feet to the Northeast corner of land described in a deed-to Frank K. Regan, the deed of which is recorded in Deed Book 350, page 582 in the Office of the Hamilton County Recorder; thence on the East line of said Regan, South 8°35'58" East 76.98 feet to a point on the southeasterly right-of-way line of a proposed round-about at the intersection of Oakridge Road, said point being on a non- tangent curve concave northwesterly, having a central angle of 12004'28" and a radius of 95.00 feet, said point being the POINT OF BEGINNING of the herein described real estate; thence continuing on the East line of said Regan,'South 08135'58" East 358,61 feet to the Southeast corner of said Regan; thence on the South line of said Regan the following three (3) courses: 1) South 69°00'19" West 38.72 feet; 2) South 89051'27" West 105.95 feet; 3) South 68°03'45" West 448.61 feet to a point on the southerly right-of-way line of a proposed 90-foot highway; said point being on a non-tangent curve, concave northwesterly, having a central, angle of 50°21'35" and a radius of 805.00 feet; thence northeasterly on and along said curve and proposed right-of-way line an arc distance of 707.55 feet (said arc being subtended by a long chord bearing North 42°53'37" East 684.99 feet) to the point of reverse curvature of a curve concave southeasterly, having a central angle of 47119'35" and a radius of.40.00 feet; thence northeasterly on said curve an arc distance of 33.04 feet (said arc being subtended by a long chord bearing North 41°22'34" East 32.11 feet) to a point on the aforesaid southeasterly right-of-way line,, said point being the point of reverse curvature of a curve concave northwesterly having a central angle of 12°04'28" and a radius of 95.00 feet; thence northeasterly on said proposed right-of-way line an arc distance of 20.05. feet (said are being subtended by a long chord bearing North 58°59'33" East 20.01 feet to the POINT OF BEGINNING; containing 1.426 acres, more or less. 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Ism ,g: 40' & 50' RIGHT OF WAY EXHIBIT r3x>..uamla ??eufmfe EXHIBrr E 122-0081 Sheet 3 of 3 LAND DESCRIPTION Proposed 50-Foot Strip City of Carmel RIW Purchase from Regan (Illinois Street) Part of the Northeast Quarter of Section 26, Township 18 North, Range 03 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest comer of the Northeast Quarter of Section 26, Township 18 North, Range 03 East; thence on the West line of Bentley Oaks, a subdivision in Hamilton County, Indiana, the plat of which is recorded as Instrument #9115494 in the Office of the Recorder of said County, South 00018'34" East (Plat Bearing), a distance of 1169.53 feet to the POINT OF BEGINNING of the herein described real estate; thence North 66°34"57" East 29.99 feet to the point of curvature of a curve concave southerly, having a central angle of 12059'00" and a radius of 675,00 feet; thence easterly on said curve an arc distance of 152.96 feet (said arc being subtended by a long chord bearing North'73004'27" East 152.63 feet); thence North 79033'57" East 620.71 feet to the point of curvature of a curve concave northerly, having a central angle of 8059'55" and a radius of 665.00 feet; thence easterly oh said curve an arc distance of 104.44 feet (said arc being subtended by a long chord bearing North 75004'00" East 104.33 feet); thence North 70634'03" East 1029.44 feet; thence North 68003'45" East 351.38 feet to the, point of curvature of a curve concave northwesterly, having a central angle of 57°46'29" and a radius of 755.00 feet; thence northeasterly and northerly on said curve an arc distance of 761.31 feet (said arc being subtended by a long chord bearing North 39011'10" East 729.47 feet) to a point on the North line of said quarter section; thence on the North line thereof, North 88035'23" East 13.05 feet to the Northeast corner of the said quarter section, also being the Northwest corner of the Northwest quarter of Section 25 in said township and range; thence on and along the North line of said Northwest quarter North 88121'51" East 37.71 feet to the Northeast corner of land described in a deed to Frank K. Regan, the deed of which is recorded in Deed Book 350, page 582 in the Office of the Hamilton County Recorder; thence on the East line of said Regan, South 8035'58" East 77.82 feet to a point on the southeasterly right-of-way line of said proposed round-about at the intersection of Oakridge Road, said point being on a non-tangent curve concave northwesterly, having a central angle of 12004'28" and a radius of 95.00 feet; thence southwesterly on said proposed right-of-way line an arc distance of 20.05. feet (said arc being subtended by a long chord bearing South 58059'33" West 20.01 feet) to the point of reverse curvature of a curve concave southeasterly, having a central angle of 47019'35" and a radius of 40.00 feet; thence southwesterly on said curve an arc distance of 33.04 feet (said arc being subtended by a long chord bearing South 41022'34" West 32,11 feet), to the point of reverse curvature of a curve concave northwesterly, having a central angle 50021'25" and a radius of 805.00 feet; thence southwesterly on and along said curve an arc distance of 707.55 feet (said arc being subtended by a long chord bearing South 42053'36" West 684.99 feet) to a point on the South line of said Regan; thence on said South line, South 68003'45" West 352.47 feet; thence on said South line, South 70°34'03" West 1030.53 feet to the point of curvature of a curve concave northerly, having a central angle of 8059'55" and a radius of 715.00 feet; thence on and along said curve an arc distance of 112.29 feet (said arc being subtended by a long chord which bears South 75°04'00" West 112.17 feet); thence South 79033'57" West 620.71 feet to the point of curvature of a curve concave southerly, having a central angle 12059'00" and a radius of 625.00 feet; thence on and along said curve an arc distance of 141.63 feet (said arc being subtended by a long chord which bears South 73004'27" West 141.32 feet); thence South 66034'57" West 51.33 feet to the a point in the West line of said. Regan; thence on said West line, North 00018'34" West 54.36 feet to the POINT OF BEGINNING; containing 3.578 acres, more or less. 122-0081 Sheet 2 of 3 LAND DESCRIPTION Proposed 40-Foot Strip Regan to City of Carmel Part of the Northeast Quarter of Section 26, Township 18 North, Range 03 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest corner of the Northeast Quarter of Section 26, Township 18 North, Range 03 East; thence on the West line of Bentley Oaks, a subdivision in Hamilton County, Indiana, the plat of which is recorded as Instrument #9115494 in the Office of the Recorder of said County, South 00018'34" East (Plat Bearing), a distance of 1169.53 feet to the POINT OF BEGINNING of the herein described real estate; thence North 66°34"57" East 29.99 feet to the point of curvature of a curve concave southerly, having a central angle of 12°59'00" and a radius of 675.00 feet; thence easterly on said curve an arc distance of 152.96 feet (said arc being subtended by a long chord bearing North 73104'27" East 152.63 feet); thence Noah '79033'57" East 620.71 feet to the point of curvature of a curve concave northerly, having a central angle of 8059'55" and a radius of 665.00 feet; thence easterly on said curve an arc distance of 104.44 feet (said arc being subtended by a long chord bearing North 75°04'00" East 104.33 feet); thence North 70034'03" East 1029.44 feet; thence North 68°03'45" East 351.38 feet to the point of curvature of a. curve concave northwesterly, having a central angle of 57°46'29" and a radius of 755.00 feet; thence northeasterly and northerly on said curve an arc distance of 761.31 feet (said arc being subtended by a long chord bearing North 39111'10" East 729.47 feet) to a point on the North line of said quarter section; thence on said North line, South 88035'23" West 89.87 feet to a point on the westerly right-of-way line of a proposed round-about at the intersection of Oakridge Road, said point being on a non-tangent curve concave easterly, having a central angle of 27°47'51" and a radius of 95.00 feet; thence southerly and southeasterly, on and along said -non-tangent curve an arc distance of 46.90 feet (said arc being subtended by a long chord bearing South 15°38'20" East 46.42 feet) to a non- tangent line; thence on a line, which is parallel with and 45.00 feet by perpendicular measurement South of the North line of said quarter section, South 88°35'23" West 14.45 feet to a point on a non-tangent curve, concave southwesterly, having a central angle of 112057'44" and a radius of 32.00 feet; thence southeasterly and southerly on said curve an arc distance of 63.09 feet (said arc being subtended by a long chord bearing South 29°39'19" East 53.36 feet to the point of compound curvature of a curve concave northwesterly, having a central angle of 49°24'12" and a radius of 715.00 feet; thence southwesterly on said.curve an arc distance of 616.57 feet (said arc being subtended by a long chord which bears South 43°20'58" West 597.59 feet); thence South 68°03'45" West 350.50 feet; thence South 70134'03" West 1028.56 feet to the point.of curvature of a curve concave northerly, having a central angle of 8°59'55" and a radius of 625.00 feet; thence southwesterly on said curve an arc distance of 98.16 feet (said arc being subtended by a long chord bearing South 75004'00" West 98.05 feet); thence South 79°33'57" West 620.71 feet to the point of curvature of a curve concave southerly, having a central angle 12159'00" and a radius of 7.15.00 feet; thence southwesterly on said curve an arc distance of 162.02 feet (said arc being subtended by a long chord bearing South 73°04'27" West 161.67 feet); thence South 66°34'57" West 12.92 feet to a point in the West line of land described in a deed to Frank K. Regan, the deed of which is recorded in Deed Book 350, page 582 in the Office of the Hamilton County Recorder; thence on said West line, South 00018'34" East 43.49 feet to the POINT OF BEGINNING; containing 2.822 acres, more or less.