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HomeMy WebLinkAboutIndemnity Agreement INDEMNITY AGREEMENT This Indemnity Agreement(the"Agreement"), executed this day of , 2000, by John F. Hays and Laurence Grabb(collectively,the"Sellers")in favor of the City of Carmel Redev lopment Commission (the"Purchaser"), WITNESSES: • Recitals WHEREAS, Sellers, as G & H Investments, Inc., and Davis Homes, LLC ("Davis"), 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 that certain real estate described and/or depicted on Exhibit A, attached hereto and incorporated herein by reference; WHEREAS, pursuant to that certain Redevelopment Agreement of even date hereof, Davis Homes assigned the Purchase Agreement to Purchaser; and WHEREAS, pursuant to the Purchase Agreement, Sellers are obligated to provide this Agreement to Purchaser; Agreement NOW,THEREFORE,Sellers agree to indemnify Purchaser for any and all claims,obligations and liabilities and all costs,expenses and attorneys'fees incurred, based upon or arising out of any obligation, liability, loss, damage or expense, of whatever kind or nature, contingent or otherwise, known or unknown, incurred under, or imposed by, any provision of Federal, state or local law or regulation, or common law, pertaining to health, safety or environmental protection and arising out of any act or omission by Seller, its employees or representatives prior to the date hereof. IN WITNESS WHEREOF, Sellers have executed this Agreement as of the day and year first written above. e, /r, hI r s Lei By: _ i%. __ ed+/g Joh F. Hays 'By Laurence Grabb File No.: 993307 EXHIBIT A That part of Lot Number Three (3) and Lot Number Four (4) in Carey's Addition (an unrecorded addition) to the Town of Carmel, Indiana, and part of the Southeast Quarter of Section Twenty- five (25), Township Eighteen (18) North, Range Three (3) East more specifically and truly described as follows: Tract #1: Beginning Thirty-five (35) rods West and One hundred thirty-two (132) feet South of the Northeast corner of said Quarter Section, thence South Twenty-four (24) feet, thence East parallel with the North line of said Quarter Section Fifty-two (52) feet, thence North Twenty-four (24) feet, thence East parallel with the North line of said Quarter Section Fifty-two (52) feet to the place of beginning. Tract #2: Beginning Thirty-five (35) rods West and One hundred Fifteen (115) feet South of the Northeast corner of said Quarter Section, and run thence South Seventeen (17) feet, East Fifty- two feet, North Seventeen (17) feet and West Fifty-two (52) feet to the place of beginning, in Hamilton County, Indiana. Tract #3: Beginning Thirty-five (35) rods West of the Northeast corner of said Southeast Quarter and run thence South One hundred Fifteen (115) feet; thence East Fifty-two (52) feet; thence North One hundred fifteen (1 15) feet; thence West Fifty-two (52) feet to the place of beginning, Hamilton County, Indiana. • Tract #4: Beginning Twenty-eight rods (28) Eleven and One-half (11-1/2) feet West of the Northeast corner of said Quarter Section, run West Fifty-two (52) feet, South One hundred fifty- six (156) feet, East Fifty-two (52) feet, North One hundred fifty-six (156) feet to the place of beginning. Tract #5: A part of the Southeast Quarter of Section 25, Township 18 North, Range 3 East, located in the Clay Township, Hamilton County, Indiana, being more specifically described as follows: Beginning at a point on the North line of the Southeast Quarter of Section 25; Township 18 North, Range 3 East, said place of beginning being South 89 degrees 01 minutes 00 seconds West (assumed bearing) 406.50 feet from the Northeast corner of said Southeast Quarter; thence South 00 degrees 00 minutes 00 seconds 156.17 feet parallel with the East line of said Southeast Quarter; thence South 89 degrees 01 minute 00 seconds West 52.00 feet; thence North 00 degrees 00 minutes 00 seconds 156.17 feet to a point on the North line of said Southeast Quarter; thence North 89 degrees 01 minute 00 seconds East 52.00 feet to the place of beginning. Tract #6: A part of the Southeast Quarter of Section 25, Township 18 North, Range 3 East, bounded and described as follows: Commencing Thirty-Five rods West and ten rods and five feet South of the Northeast corner of said Quarter Section, thence running South One Hundred Twenty-Eight feet, thence West One Hundred and Four feet, to the place of beginning, and being known as Lots 5 and 6 Carey's Addition to Carmel. Tract #7: Part of the Southeast Quarter of Section 25, Township 18 North, Range 3 East in Hamilton County, Indiana, and more particularly described as follows: Beginning 24 rods, 10 1/2 feet West and 10 rods 9 feet South of the Northeast corner of the Southeast Quarter of said Section 25, Township 18 North, Range 3 East, run thence South 126 feet, thence West 52 feet, thence North 126 feet, thence East 52 feet to the place of beginning, except five feet off the entire East side thereof. Also, alleys vacated as per Ordinance D-588, recorded as Instrument No. 88-11576. Continued Said real estate is now more specifically described as follows: A part of the Southeast Quarter of Section 25, Township 18 North, Range 3 East, in Hamilton County, Indiana, described as follows: Beginning at a point on the North line of said Quarter Section being South 89 degrees 51 minutes 35 seconds West (assumed bearing) 406.50 feet from the Northeast corner of said Quarter Section; thence South 00 degrees 51 minutes 36 seconds West, parallel with the East line of said Quarter Section, 174.00 feet; thence South 89 degrees 51 minutes 35 seconds West, parallel with said North line 5.00 feet; thence South 00 degrees 51 minutes 36 seconds West, parallel with said East line, 126.00 feet; thence South 89 degrees 51 minutes 35 seconds West, parallel with said North line, 47.00 feet; thence North 00 degrees 51 minutes 36 seconds East, parallel with said East line, 2.00 feet; thence South 89 degrees 51 minutes 35 seconds West, parallel with said North line 119.00 feet; thence North 00 degrees 51 minutes 36 seconds East, parallel with said East line, 298.00 feet to a point on said North line; thence North 89 degrees 51 minutes 35 seconds East 171.00 feet to the point of beginning, and containing 1.158 acres, more or less. NOTE: The acreage shown above is included for descriptive purposes only. The policies, when issued, should not be construed as to insuring the amount of acreage included therein.