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HomeMy WebLinkAboutCommitments 10-4-04 -, I (j - Ll - 0 LJ ,f COMMITMENTS CONCERNING THE USE AND DEVELOPMENT OF REAL ESTATE The undersigned, Leeds, LLC (hereafter "Developer"), the Contract Purchaser of the following described real estate located in Hamilton County, Indiana (hereafter "Real Estate"), makes the following Commitments concerning the use and development of Real Estate to the Carmel Clay Plan Commission ("Commission"). 1. Description of Real Estate. See Exhibit "A" hereto ("Real Estate"). 2. Docket No. (Saddlebrook at Shelbome) 3. Statement of Commitments. A. Developer commits to either, as Developer elects: 1. Construct a one-half roadway (including existing pavement) of two (2) 12 foot lanes with curb and gutter in the one-half of the right- of-way adjacent to the Real Estate of Shelbome Road (the "Construction Improvements"); or 2. Widen the one-half of the right-of-way adjacent to the Real Estate of Shelborne Road with three (3) feet of pavement and three (3) feet of stone shoulder to the existing pavement (the "Widening Improvements") and contribute in cash to the Carmel Department of Community Services ("DOCS") a sum equal to the difference between the estimated cost of the Construction Improvements and the estimated cost of the Widening Improvements (the "Cash Contribution"), as determined by agreement between Developer and DOCS, to be applied by DOCS to such other roadway improvements within a one-mile radius of the Real Estate as DOCS may determine. B. In the event Developer elects option 3.A.2, Developer shall, prior to recording a secondary plat with respect to the Real Estate, pay DOCS a pro rata portion of the Cash Contribution in an amount equal to the Cash Contribution divided by the total number of lots in the Primary Plat approved in Docket No. times the number of lots shown on the secondary plat for which approval was received. The roadway improvements provided for and contemplated by these Commitments require and may be subject to the approval of the Hamilton County Highway Department/Hamilton County Commissioners. 4. Binding on Successors and Assigns. These commitments are binding on the Developer of the Real Estate, each subsequent Owner of the Real Estate, and each other person acquiring an interest in the Real Estate from Developer. These commitments may be modified or terminated only by a decision of the Commission made at a public hearing after notice as provided by the rules of the Commission. The foregoing notwithstanding, these commitments shall terminate t" upon the recordation of a Secondary Plat as to the partes) of the Real Estate described therein. 5. Effectiveness. These commitments are a condition to the approval by the Commission of the Secondary Plat under Docket # 6. Recording. The undersigned hereby authorizes the Secretary of the Commission or the Director of the Department of Community Services to record these commitments in the Office of the Recorder of Hamilton County, Indiana, prior to the recordation of the first approved Secondary Plat for all or a part of the Real Estate. 7. Enforcement. These commitments may be enforced by the Commission and City of Carmel, Indiana. Executed this _ day of , 2004. Leeds, LLC By: Michael H. Stikeleather Its: Manager ST ATE OF INDIANA ) ) SS COUNTY OF HAMILTON ) Subscribed and sworn before me, a Notary Public, in said County and State, appeared Michael H. Stikeleather} the of Leeds, LLC, the Developer, and acknowledged the execution of the foregoing Commitments concerning the use and development of the Real Estate for and on behalf of Leeds, LLC. WITNESS my hand and Notarial Seal this day of , 2004. My Commission Expires: (printed) Notary Public Residing in Hamilton County This document prepared by Steven D. Hardin, BINGHAM McHALE, 970 Logan Street, Noblesville, Indiana 47060, (317) 776-8650. EXHIBIT A LEGAL DESCRIPTION The North Half of the Southwest Quarter of Section 32, Township 18 North, Range 3 East, Excepting the North Half of the Northwest Quarter of the Southwest Quarter of Section 32, Township 18 North, Range 3 East, Clay Township, Hamilton County, Indiana, and being more particularly described as follows: Commencing at the Northwest corner of the Southwest Quarter of said Section 32, thence North 89 degrees 27 minutes 59 seconds East (bearing based upon the State Plane Grid Bearings, Indiana East Zone, North American Datum[NAD] 83) 1327.22 feet along the North line of said Southwest Quarter section to the Point of Beginning; thence continuing, North 89 degrees 27 minutes 59 seconds East ~1327.22 feet to the Northeast corner of said Southwest Quarter section; thence South 00 degrees 05 minutes 32 seconds West 1319.85 feet along the East line of said Southwest Quarter section to the Southeast corner of the North Half of said Southwest Quarter section; thence South 89 degrees 33 minutes 29 seconds West 2652.38 feet along the South line of the aforesaid North Half to the West line of said Southwest Quarter section; thence North 00 degrees 00 minutes 17 seconds East 657.79 feet along said West line to the Southwest corner of the North Half of the Northwest Quarter of the Southwest Quarter section; thence North 89 degrees 30 minutes 44 seconds East 1326.70 feet along the South line of the aforesaid North Half Quarter-Quarter section to the Southeast corner thereof; thence North 00 degrees 02 minutes 55 seconds East 658.86 feet along the East line of the aforesaid North Half Quarter-Quarter section to the Northeast corner of the aforesaid North Half Quarter-Quarter section and the Point of Beginning, containing 60.210 acres, more or less. Subject to all easements, rights of way and restrictions of record.