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