HomeMy WebLinkAboutCarmel Theater Development Co. - Parcel 73 Streetscape, Range Line Rd and City Center Drive Amendment - $1,459,095/20110
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AMENDMENT TO INSTALLMENT PURCHASE CONTRACT
(City Center Drive /Rangeline Road Streetscape Improvements)
This Amendment to Installment Purchase Contr ct (City Center Drive /Rangeline Road
Streetscape Improvements) (the "Amendment "), executed thisZZ y of June, 2011, by and between Carmel
Theater Development Company, LLC (the "Developer "), and The City of Carmel Redevelopment Commission
( "CRC "), Witnesses:
Recitals
WHEREAS, Developer and CRC have entered into that certain Installment Purchase Contract
(City Center Drive /Rangeline Road Streetscape Improvements), dated June 21, 2010 (the "Installment
Contract ");
WHEREAS, the parties seek to amend the definition of Streetscape Improvements; and
WHEREAS, the parties desire to enter into this Amendment;
Agreement
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are acknowledged hereby, Developer and CRC agree as follows:
1. Amendment. The definition of Streetscape Improvements, as set forth in Section 1 of the Installment
Contract, is amended and restated in its entirety as follows:
"Streetscape Improvements shall mean $1,459,095.00 of streetscape improvements to City
Center Drive (also known as 126th Street) and Rangeline Road. The Streetscape
Improvements are described in the Streetscape Improvements Specifications."
2. Authority. The undersigned persons executing this Amendment on behalf of Developer and CRC
represent and certify that: (a) they are fully empowered and authorized by all necessary action of Developer
and CRC, respectively, to execute and deliver this Amendment; (b) they have full capacity, power, and
authority to enter into and carry out this Amendment; (c) the execution, delivery, and performance of this
Amendment have been duly authorized by Developer and CRC, respectively; and (d) this Amendment is the
legal, valid and binding obligation of Developer and CRC, respectively.
3. Miscellaneous. This Amendment shall be governed by, and construed in accordance with, the laws
of the State of Indiana. All capitalized terms used in this Amendment and not defined herein shall have the
meanings ascribed to such words in the Installment Contract. In the event of any conflict between the
Installment Contract and this Amendment, the terms and conditions of this Amendment shall control. Except
as expressly provided in this Amendment, all of the terms and conditions of the Installment Contract shall
remain in full force and effect, and Developer and CRC reaffirm the validity and binding effect of the Contract,
as amended by this Amendment.
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IN WITNESS WHEREOF, Developer and CRC have executed this Amendment as of the date
set forth above.
Z: \Documents \Shoup, Jenny \City of Carmel \Parcel S \NBI Financing
ICs \Streetscape\Amendment to Streetscape IC wpd
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CARMEL THEATER DEVELOPMENT
COMPANY, LLC
By: REI Real Estate Services, LLC, sole
member
THE CITY OF CARMEL
REDEVELOPMENT COMMISSION
By:
William Hammer, President
Q
IN WITNESS WHEREOF, Developer and CRC have executed this Amendment as of the date
set forth above.
Z: \Documents \Shoup, Jenny \City of Carmel \Parcel 5 \NBI Financing
ICs \Streetscape\Amendment to Streetscape IC wpd
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CARMEL THEATER DEVELOPMENT
COMPANY, LLC
By: REI Real Estate Services, LLC, sole
member
By:
Jeffrey S. Sporleder, CFO
THE CITY
OF
CARMEL
REDEVE •PMENT •• MISSION
By:
William Hammer, • e Went