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Home My WebLink AboutArgus Realty Investors/City of Carmel DESIGNATION AGREEMENT IG Tots DESIGNATION AGREEMENT(this "Agreement') is entered into as o ust 2008 and among Tun CITY OF CARMEL, INDIANA ("Buyer"), and ARGUS REALTY INVESTORS, L.P., A DELAWARELIMITED'RARTNERSHIR ("Argus"), RECITALS A. Pursuant to that certain Acceptance of Administrative Settlement(the"Settlement"), between the partiesset,fortli on.ExhibilA (collectively,the"Seller") and Buyer, Seller agreed to sell to Buyer, and Buyer agreed to buy from Seller, that:certain"Property_described.more on attached Exhibit B (the "Property") for a`purchase price of $189,533.00 (The purchase and sale of the ,Property pursuant to the Settlement is sometimes referred to below as the "Transaction"). B. The Transaction is part.of:the.2006:Bond-Project No. 05-18 (Pennsylvania Street 103r to.l 06`" Streets). C. Section 6045(e) of the United States Internal Revenue Code;and the regulations promulgated thereunder-(collectively,the"Reporting Requirements")require an information return. "to be made to the United States Internal Revenue Service, and a statement to be furnished to Seller, in connection with the Transaction. D. Argus and.Buyer desire to designate Argus as the:!'ReportingPerson"(as described in the'Reporting Requirements) with respect to:the Transaction. G. Argus agrees to indemni& and hold Buyer harmlessfor failure of.Argu_ s to comply with the Reporting.Requiretnents:, ACREEMENT' NowtTi-IERSFoRE;,for good and;vaivabic consideration, the receipt and adequacy of which are hereby acknowledged„Buyer and Argus agree,-as follo*s: 1. Argus is hereby designated as the Reporting Person; for. the Transaction. Argus shall perform all duties in`a timely manne€'that are required by the Reporting,Requirements to be performed by the Reporting,Personforthe Transaction. Argus;is,responsible for Obtaining any necessary consent of Seller to this:Agreement. 2. Seller and Buyer,shal ifurnish to Argus,.in a timely,manner, arty information requested by Argus and necessary for Argus to perform its.duties.as Reporting Person'for the Transaction. 3. Argus,shall provide Buyer with copies of all 1099s''and any other.fonns or reports prepared by Argus_and delivered to Seller, the Internal°Reyemie Service, oi•any otherperon; v3(8_I5_08)City of Cannel_Argu4-Agreeten[DOC 1 body of entityatthe same time as.Argus delivers such items to Seller Orwell other person, body or entity. 4. Argus hereby agrees to indemnify and hold Buyerharmless from and against, all costs, damages, judgments; attorneys fee, expenses, obligations and liabilities of any kind or nature:which,in good faith, Buyertniayincuror sustain in connection'or arising out of Argus' failure to comply with any of the Reporting Requirements or terms.of this-Agreement. 5. Each of the parties hereto shall retain a copy of this Agreement for a period of four years following the calendaryear-during_which the date'of closing of the Tiansactibn occurs. 6. This Agreement-may be executed in any number of counterparts, each of which shall be deemed to be an original and all of Which shall constitute' one and the same agreement. 7. Tliis,Agreement;shall be governed by and construed in accordance with the laws of the State of'Indiana. 8: Buyer shall incur no cost as a..result of entering into this Designation Agreement. 9. For purposes-of providing:notices, copies or requesting further information, the parties' contact information is: To Buyer: City of Carmel. Attention: Clerk-Treasurer -One Civic-.Square Carmel, IN 46032 Telephone: (317) 571-2414 Fax: (317)571-24.10' With a copy to: City of Carmel Attention: Department A.dimnistration One Civic;Square Carmel, IN 46032 Telephone; (3,17) 57142309 Fax:. (3''1.7)571-2484 and a copy to; City of Cannel Attention: City Attorney One Civic'Square Carmel, IN 46032. Telephone: (317) 571-2472 Fax: (3`17).571.2484 v3(8_I 5_08)City of Cannel_Argus-Agreement.DOC 2 To Argus Argus-Realty'Investots, L.P. IN WITNESS WHEREOF:, the parties have,entered"into this Agreement as of the date and 'year fitst above:written_ Buyer: THE CITY OF,CARMEL,IN""DIANA By: • A r i Name:, ..P f ; Its: . C'/- : < __ a Argus: ARGUS.REALTY INVESTORS, L.P., a'Belawate limited-partnership Name: .g/G AsP/7 (; CEO v3(8_I5_05)City of CarmelArgus r Agreemedt.000 3 EXHIBIT A SELLER ARI-MP 1, LLC,a Delaware limited liability company ART-MP 2,LLC, a Delaware liinited liability,company ARE-MP 3 .LLC, a Delaware limited liability company ARI-MP 4„L`L'-C, a Delaware limited liability company ARI-MP 5, LAIC, a Delaware:limitedliability company ARI-MP 6,'LLC, a Delaware limited liability company ARI-MP'.7,LLC, a Delaware limited liability company ARI-MP 8, LLC, a Delaware limited liability company ARI-MP 9, LLC; a Delaware limited liability company ARI-MP 10, 1_LC, a Delaware.Iimitedaiabilitycompany ARE-MP 11, LLC, a]Delaware.limitedliability company ARE-MP 12, LLC, a Delaware limited liability.'company ART-MP 13, LLC, a'Delaware'limiied.liability company ART-MP 14, LLC,;aDelaware limited liability company ARI-MP 15, LLC, a Delaware limited liability company ART-MP 16, LLC,.a'Delawaie litnited,liability company ARE-MP 17, LLC,a.Delaware limited liability company ARI-MP 18, LLC, a Delawarelimited.liability company ARI-MP 19, LLC;a Delaware"limited liability company ARI-NIP 20, LLC; aDelawareliniited liability company ART-MP 21, LLC,,a Delaware limited liabilityconipany ART-MP 22, LLC, a Delaware limited'liability company ARI-MP 23, LLC, a Delaware limited:liability.company ARI-MP 24, LLC, a Delaware limited liability company ARI-MP 25, LLC,'a=Delawarelimitedliability company ARI-MP 26, LLC, a Delaware limited liability company ARI-MP 27, LLC,-a Delaware limited liability company ARI-MP 28, LLC,:a Delaware limited liability company ARI-MP-29; LLC,,;a Delaware limited liability company ARI-MP 30; LLC, a Delaware limit'ed'liability company ARI-MP 31, LLC„a Delaware limited liabilitycompany ARI-MP 32, LLC, aDelaware.limitekliabilitycompany ARI-MP'33, LLC,.a.Delaware limited_lability company ARI-MP 34, LLC„a Delaware:limited liability company ARI-MP 35, LLC,,a Delaware limited liability company ARI-MP 36, LLC, a Delaware limited liability, company ARI-MP 37, LLC, a Delawarelimitedliability company ARI-MP"38, LLC, a Delaware limited liability company v3(8_15_08)Ciiy of Camvel_Argus-AgreementDOC, 4 EXHIBIT B THE PROPERTY A PART OF THE NORTHWEST QUARTER, SECTION ELEVEN(II), TOWNSHIP SEVENTEEN ( 7)NORTH, RANGE THREE (3).EAST, HAMILTON COUNTY, INDIANA, AND BEFNG THAT PART OF-THE GRANTOR'S LAND LYING WITHIN THE RIGHT OF WAY LINES DEPICTED ON THE,AlTACHED PLAT, MARKED EXHIBIT "13", MORE FULLY DESCRIBED.AS FOLLOWS: COIVIMENCING,at the Northeast Corner of the said.Quarter Sectiorg Thence South 00 degrees 00 minutes 00 seconds West (assumed bearing), along,the East line of said Quarter Section,a distance uf`1328.00 feet:to the prolonged south line of the grantor's land;Thence South 89 degrees, 19:minutes 01 seconds West, along said south line prolonged being parallel to the North line of said Quarter-Section, a distance of 8.50 feet, to the southeast corner of said grantor's land and the'PLACE OF BEGINNING; Thence continting,;South 89 degrees19, minutes 01 seconds West, along the south line of said grantor's land being parallel to the North line cfsaid Quarter Section, a distance of 6.50 feet; Thence,North 00 degrees 00-minutes 00 seconds East,parallel:teethes East line of said QuarterSection„a distance of 140,34 feet,•toa point on the-east line of said`grand:es land; Thence South,;02•degrees 39 minutes 13 seconds East, along said grantor's east line, a distance of i40.41 feet to the PLACE OF BEGINNING. CONTAINING 0.0 t.O,AC EKES:(456 SQUARE FEET), MORE OR LESS. v7(8_15_38)City of Cnrmel_Argus-Agreement DOC 5 Y " C- ROSSROAD'ENGINEERS, P.C. 3417 S. Sherman Drive " Beech Grove, IN 46107 t Phone: 317-780.1555 anigatcka Fax: 317-780-6525 110MiNfIVICS. PC LETTER,OF TRANSMITTAL To: Date:, September 9, 2008 Ms. Diana Cordfay Cityof Carmel,Glerk�Treasurees.Office Project: Pennsylvania St.—Proj. 06- One Civic Square 148) Carmel, IN 46032 2006 Bond Projects WE ARE''SENDING•YOU x Attached _ Shop Prints _ 'Samples _ Specifications Drawings Copy of Letter Change Order Copies. Date: Description: 2 prig.(ea.) Designation Agreements THEY ARE TRANSMITTED:.AS'CHECKED BELOW: _ For Approval Approved as submitted _ Resubmit blueline setswlbinder x For your use Approved as noted _ Resubmit .Xerax,sets wlbinder As Returned fop-corrections Return corrected prints requested _ For bids due _ ,20_ Sandy, Please find enclosed two (2),original Designation Agreements authorizing Argus Realty Investors to prepare the 1099-SAs for this right of way acquisition parcel (Parcel9 &9A. I've also included the redlined version with the 'revisions you requested•for reference. Pleasecsign both originals and return one to mein the ,pre- addressedlstamped envelope-enclosed. Do nothesitateto contact.me with.any.question Signed Cc: File ill A'. New e_.