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Home My WebLink About159906 05/28/2008 CITY OF CARMEL, INDIANA VENDOR: 356690 Page 1 of 1 ONE CIVIC SQUARE C DEAN HARRILL DOTTIE HARRILL 0 CARMEL, INDIANA 46032 3057 SUGAR MAPLE COURT CHECK AMOUNT: $8,000.00 CARMEL IN 46033 CHECK NUMBER: 159906 CHECK DATE: 5/28/2008 DEPARTMENT ACCOUNT PO NUMBER INVOICE NUMBER AMOUNT DESCRIPTI 902 4460814 8,000.00 STREET DEPT FACILITY PURCHASE AGREEMENT This Purchase Agreement (the "Agreement entered into by and between 251, LLC (the "Seller and The City of Carmel Redevelopment Commission (the "Purchaser this day of June, 2005, WITNESSES: G -t? b&- WO Z- 65 1. Conveyance. Subject to terms and conditions of this Agreement, Purchaser shall purchase from Seller, and Seller shall convey to Purchaser, certain real estate owned by Seller and located at 2512 n1 Street SW and 2612 nd Street SW, which real estate is depicted on Exhibit A (collectively, the "Parcel together with and including all of Seller's right, title, and interest in and to: (a) all buildings and improvements located on the Parcel (the "Improvements and (b) all rights, interests, privileges, and easements in any way appertaining to the foregoing, or used in connection therewith (the "Rights The Parcel, the Improvements, and the Rights, collectively, are the "Property 2. Purchase Price. The purchase price forthe Property shall be $990,000.00 (the "Purchase Price 3. Earnest Money. Within five business days afterthe date hereof (the "Execution Date Purchaser shall deposit $8,000.00 (the "Earnest Money with Hamilton Title Security, LLC (the "Title Insurer Purchaser shall forfeit the Earnest Money to Seller if: (a) Seller has performed all of its obligations hereunder (including, without limitation, its obligations under Subsections 8(a) and 8(c)); and (b) Purchaser fails or refuses to perform its obligations hereunder, despite the fact that all conditions of the performance of Purchaser have been satisfied or waived by Purchaser in writing. Such forfeiture of the Earnest Money shall: (a) constitute liquidated damages; and (b) be the sole remedy of Seller at law or in equity. The Earnest Money otherwise shall be paid, forfeited, refunded, or applied in accordance with the terms and conditions of this Agreement. All interest earned on the Earnest Money shall be added to, and deemed to be part of, the Earnest Money. 4. Closing. Subject to the terms and conditions of this Agreement, the transaction contemplated herein (the "Transaction shall be closed and the Land Sale Contract (as defined in Subsection 6(a)) shall be executed and delivered on J my 15, 2005, or such other date agreed upon by Purchaser and Seller (the "Closing Date The closing shall take place either at the office of the Title Insurer, or at such other place as Purchaser and Seller mutually may agree. At the closing, Purchaser shall pay to Seller a portion of the Purchase Price equal to: (a) $100,000; plus (b) an amount equal to: (i) $8,000; multiplied by (ii) the number of times that the first day of a calendar month occurs during the period beginning on (and including) June 1, 2005, and ending on the Closing Date; which portion of the Purchase Price shall be: (a) paid in cash or by wire transfer; and (b) reduced by: (i) the Earnest Money; and (ii) any reductions, credits, or prorations for which this Agreement provides. The remainder of the Purchase Price shall be paid in accordance with the terms and conditions of the Land Sale Contract. At the closing, Purchaser shall reimburse Seller for the amount of the premiums paid by Seller to maintain insurance for the Property for the period beginning on June 1, 2005, and ending on the Closing Date; provided that, in no event shall Purchaser be obligated to reimburse Seller any amounts paid for such premiums in excess of $1,500.00. 5. Possession. Seller shall deliver possession of the Property to Purchaser on the Closing Date, free and clear of all rights and claims of any other party to the possession, use, or occupancy of the Property. Prior to closing, Seller shall: (a) cancel or.terminate all: (i) leases, licenses, and other agreements currently in effect with respect to the possession, use, or occupancy of the Property (the "Leases (ii) service and maintenance contracts with respect to the ownership or operation of the Propert y (the "Service Contracts and (iii) management and leasing contracts or agreements with respect to the Parcel, the Improvements, and /or the Equipment (the "Management Contracts (b) pay all amounts due under, and settle all accounts with respect to, the Service Contracts and the Management Contracts (the "Contract Accounts and (c) remove all items of personal property from the Property. Prior to closing, Seller may remove the air conditioner compressor, the furnace, and any woodwork from the Property. Prescr'bed by State Board of Accounts ACCOUNTS PAYABLE VOUCHER City Form No. 201 (Rev. 1995) CITY OF CARMEL An invoice or bill to be properly itemized must show: kind of service, where performed, dates service rendered, by whom, rates per day, number of hours, rate per hour, number of units, price per unit, etc. Payee Do Utz e ter Purchase Order No. c Terms Date Due Invoice Invoice Description Amount Date Number (or note attached invoice(s) or bill(s)) s og Lq L 4� ui f ..t .mss Total �,b00 I hereby certify that the attached invoice(s), or bill(s), is (are) true and correct and I have audited same in acance with IC 5- 11- 10 -1.6. t= 20 Clerk- Treasurer VOUCHER NO. WARRANT NO. ALLOWED 20 A14 Ar. IN SUM OF I O O CJ ON ACCOUNT OF APPROPRIATION FOR Board Members Po# or INVOICE NO. ACCT #/TITLE AMOUNT DEPT. I hereby certify that the attached invoice(s), or e coo bill(s) is (are) true and correct and that the materials or services itemized thereon for which charge is made were ordered and received except Q o� IT 4A0, Sin e., 41 C--2 G. Cost distribution ledger classification if Title claim paid motor vehicle highway fund