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Home My WebLink AboutCommitments Concerning Use & Development of Real Estate >a :> COpy Cross References: 200400054329,200600032874, and 200600050623 COMMITMENTS CONCERNING THE USE AND DEVELOPMENT OF REAL ESTATE Mohawk Associates, LLC an Indiana limited liability company, and Gramercy Development Partners, LLC an Indiana limited liability company, (hereafter collectively referred to as, "Buckingham"), the owners of the real estate located in Carmel, Hamilton County, Indiana, which is described on Exhibit A attached hereto and made a part hereof ("Real Estate"), make the following commitments (the "Commitments") concerning the use and development of the Real Estate as Gramercy (the "Development") to the City of Carmel Common Council (the "Council"). Section 1. Cross Reference. These Commitments are made in connection with approvals obtained under Ordinance No. Z-493-06, the Gramercy Planned Unit Development Ordinance, approved by the Council on August 21, 2006 (the "Gramercy PUD"), commitments recorded with the Hamilton County, Indiana Recorder on August 28, 2006 as Instrument No. 2006- 00050623 (the "Gramercy Rezone Commitments") and, Resolution No. CC-09-18-06-02 and Ordinance No. D-1830-06 (the "Gramercy Economic District") approved by the Council on , 2006 and, 2006 respectively. Section 2. reference: Exhibit. The following exhibit is attached hereto and incorporated herein by Exhibit "A". Attached hereto and incorporated herein by reference as Exhibit "A" is the legal description of the Real Estate. Section 3. Dermitions. Different words and terms are defined throughout these Commitments and the definitions below shall apply throughout these Commitments. Further, other capitalized terms herein are defined in the Gramercy Ordinance and Gramercy Rezone Commitments: 1. Owner. The term "Owner" shall mean and refer to Buckingham and its successors and asSIgns. 2. Story or Stories. The term "Story" or "Stories" shall mean and refer to that part of any Building comprised between the level of one finished floor and the level of the next higher finished floor or, if there is no higher finished floor, that part of the Building comprised between the level of the highest fmished floor and the top of the roof beams. 3. Final Development. The term "Final Development" shall mean and refer to the final ADLS approval for the last section of the Gramercy District so that (i) all the Real Estate within the Gramercy District has undergone ADLS approval and (ii) Page 1 of 6 ~ .' COpy construction of the improvements associated with the final ADLS approval for the la<;t section of the Gramercy District has been completed. 4. Landmark Clock Tower. Thc tcrm ''Landmark Clock Towcr" shall mean and refer to the tower dcscribed in subparagraph (iii) of the Introduction to the Gramercy Design and Development Standards that is attached as Exhibit "G" to the Gramercy PUD. Section 4. Commitments. The Owner agrees and commits to the following: 1. That the maximum Building Height in the Core Transitional Area, as the same is defined pursuant to Section 4.3 (C) of the Gramcrcy PUD, shall be the greater of either four (4) Stories or fifty (50) feet. 2. That the maximum Building Height in the Core Area, as the same is defmed pursuant to Section 4.3 (0) of the Gramercy PUD, shall be the greater of either five (5) Stories or sixty (60) feet. 3. Notwithstanding anything in these Commitments to the contrary, the Landmark Clock Tower may be constructed to the maximum height permitted under the Gramercy PUD. 4. That a minimum total of fifty (50) single family detached residences shall be constructed upon the Real Estate prior to or as part of the Final Development of the Real Estate. 5. Notwithstanding the requirements of Section 1.2 of the Gramercy Design and Development Standards, which is attached to the Gramercy PUD as "Exhibit G", which requires that a minimum of ten percent (10%) of the acreage within the District as a whole shall be provided as Open Space, the Owner shall cause a minimum of twelve percent (12%) of the acreage within the GramercyDistrict to be provided as Open Space prior to or as part of the Final Development of the Real Estate, and that the linear park that is described in Section 4, paragraph 9 of the Gramercy Rezone Commitments shall qualify as Open Space for purposes of this Commitment. 6. That the two (2) acre minimum park referenced in Section 1.2 of the Gramercy Design and Development Standards that is attached as Exhibit "G" to the Gramercy PUD shall be located within the Core Area as depicted on the Building Height Map that is attached as Exhibit "D" to the Gramercy PUD. Section 5. Bindinl! on Successors. These Commitments are binding on the Owner of the Real Estate and each subsequent owner of the Real Estate, and each other person acquiring an interest in the Real Estate, unless modified or terminated by the Council. These Commitments may be modified or terminated only by a decision of the Council after a public hearing wherein notice as provided by the rules of the Council has been made. The provisions of this paragraph 5 notwithstanding, these Commitments shall tenninate as to any part or parts of the Real Estate Page 2 of6 ~ COpy hereafter reclassified (rezoned) from the Gramercy Planned Unit Development District pursuant to Ordinance No. Z-493-06, to another zoning classification. Section 6. Effective Date. The Commitments contained herein shall be effective upon the occurrence of all of the following events: 1. The adoption of an ordinance by the Council assigning the requested Gramercy Economic District to the Real Estate pursuant to Resolution No.CC-09-18-06-02 and Ordinance No.D-1839-06; 2. The commencement of the development of the Real Estate in accordance with the assignment of the requested Gramercy PUD classification pursuant to Ordinance NO.Z- 493-06, as evidenced by the issuance of a building permit and improvement location permit, or their equivalent, for such development. Section 7. Recordinl!. The undersigned hereby authorizes the Clerk Treasurer of the City of Carmel to record these Commitments in the Office of the Recorder of Hamilton County, Indiana. Section 8. Enforcement. These Commitments may be enforced by the Council and any property owner within or immediately adjacent to the Real Estate. IN WITNESS WHEREOF, the Owner has caused these Commitments to be executed as of the date written below. Signatures next page Page 3 of6 '~. : Mohawk Associates, LLC, an Indiana limited liability comPany, COpy By: Mohawk Manager, LLC, an Indiana limited liability company, Manager By: B~bers, Manager STATE OF INDIANA ) ) SS: COUNTY OF MARION ) Before me the undersigned, a Notary Public in and for said County and State, personally appeared Bradley B. Chambers, Manager of Mohawk Manager, LLC, an Indiana limited liability company, Manager of Mohawk Associates, LLC, an Indiana limited liability company and acknowledged the execution of the foregoing instrument for and on behalf of said limited liability company. Witness my hand and Notarial Seal this ~ \1Y\ day of ~,2006. NO~~ (fennt+(y E7lwtJYd~ Printed Name ~ Commission Expires: \Me \'1 LD' '1, I , Residing in lYtlrl M County Page 4 of6 ,- . COpy Gramercy Development Partners, LLC, an Indiana limited liability company By: House Investments ~. Mohawk Investors I, LLC, an Indiana limited liability company, Member By: Buckingham Mohawk, LLC, an Indiana limited\\liability company, Managing Member By: ~ Bradley B. Chambers, Manager AND By: House Investments ~ Mohawk Investors II, LLC, an Indiana limited liabilit'y company , Member By: Buckirigham Mohawk, LLC, an Indiana limite&'liability company, Managing Member ~Chambers, Manager By: ~ STATE OF INDIANA ) ) SS: COUNTY OF MARION ) Before me the undersigned, a Notary Public in andifor said County and State, personally appeared Bradley B. Chambers, Manager of Buckingharil Mohawk, LLC, an Indiana limited liability company, Managing Member of House InvestItients - Mohawk Investors I, LLC, an Indiana limited liability company, Member of Gramercy Development Partners, LLC, an Indiana limited liability company who acknowledged the execution of the foregoing Declaration for and on behalf of said limited liability company. Witness my hand and Notarial Seal this \ I in day of ~, 2006. rnAA+~ No~lic 'J~,yW,\l~V awl\Yd~ MJ.Sommission Expires: -n{ \ 1l '1D \1...- Residing in yy\{).1( i ffi County Page 5 of6 ~ .- COpy Printed Name STATE OF INDIANA ) ) SS: COUNTY OF MARlON ) Before me the undersigned, a Notary Public in amf for said County and State, personally appeared Bradley B. Chambers, Manager of BuckinghaWl Mohawk, LLC, an Indiana limited liability company, Managing Member of House Investrrients - Mohawk Investors II, LLC, an Indiana limited liability company, Member of Gramercy Development, LLC, an Indiana limited liability company who acknowledged the execution of the foregoing Declaration for and on behalf of said limited liability company. Witness my hand and Notarial Seal this Ilfh . day Of~, 2006. MX Commission Expires: ~JI AI A<~ ~/liA ~)Y\{ 11, "l-V\1L- Notary c Residingin YY1llff D)1 County JtYlni-ftv ta\1\ltlfa5 Printed Name: Prepared By: James E. Shinaver, Nelson & Frankenberger, 3105 East 98th Street, Suite 170, Indianapolis, IN 46280. I affirm, under the penalties of perjury, that I have taken reasonable care to redact each Social Security number in this document, unless required by law. James E. Shinaver Page 6 of6