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HomeMy WebLinkAboutCRC-02-2000 G & H Real Estate/Davis Homes Agreement® CITY OF CARMEL REDEVELOPMENT COMMISSION RESOLUTION NO. cZ _O,OeO WHEREAS, the City of Carmel Redevelopment Commission ("CRC') desires to cause the redevelopment of that portion of downtown Carmel, Indiana, that commonly is referred to as "Old Town"; WHEREAS, John F. Hays and Laurence Grabb, of G & H Investments, Inc. ("G' & H"), are fee simple owners of certain real estate located in Old Town that is described and/or depicted on Exhibit A, attached hereto and incorporated herein by reference (the "G & H Real Estate"); WHEREAS, Davis Homes, LLC ("Davis', as purchaser, and G & H, as Seller, entered into that certain Purchase Agreement (Commercial-Industrial Real Estate), dated August 10, 1999 (the "Purchase Agreement"), with respect to the purchase and sale of the G & H Real Estate; WHEREAS, pursuant to the Purchase Agreement, the purchase price for the G & H Real Estate is $445,000.00 (the "Purchase Price"); WHEREAS, CRC expressed to Davis its desire to acquire the G & H Real Estate if Davis decides not to acquire the G & H Real Estate; WHEREAS, Davis has: (a) decided not to acquire the G & H Real Estate; and (b) agreed to assign to CRC its right, title, and interest in the Purchase Agreement; WHEREAS, pursuant to that certain Redevelopment Agreement entered into by and between CRC and Davis, Davis has assigned its right, title, and interest in the Purchase Agreement to CRC; WHEREAS, CRC desires to close the purchase and sale of the G & H Real Estate in accordance with the terms and conditions of the Purchase Agreement; and ® WHEREAS, CRC hereby shall authorize: (a) the acceptance by CRC of the assignment from Davis of its right, title, and interest in the Purchase Agreement; and (b) the acquisition of the G & H Real Estate for the Purchase Price pursuant to the Purchase Agreement; NOW, THEREFORE, BE IT RESOLVED: 1. That CRC hereby authorizes: (a) the acceptance by CRC of the assignment from Davis of its right, title, and interest in the Purchase Agreement; and (b) the acquisition of the G & H Real Estate for the Purchase Price pursuant to the Purchase Agreement; 2. That the members of CRC hereby are authorized to execute any and all documents required in connection with the acquisition of the G & H,Real Estate (the "Acquisition Documents"). 3. That the members of CRC hereby are authorized to delegate the execution of the Acquisition Documents to appropriate representatives of CRC. Passed by CRC this _ day of February, 2000, by a vote of _ ayes and _ nays CITY OF CARMEL REDEVELOPMENT COMMISSION Printed. 1 `1. W F, I L 0 C ® B XBy: vv?Wl Printed: Printed: ?B ?% Buz Attest: / Diana L. Cordray, Clerk-Trea ?i) Printed: Prepared by Wallack Somers & Haas, Special Counsel to CRC E ® ZSPI,IORRISSEYNREDEV COAMPRESOLUTION RG PURCHASE OF _2_ ManOC 0 S H PROPERTYSVPD C 0