Closing Documents Illinois Street - Paula Sowers Settlement Agreemento
ADMINISTRATIVE SETTLEMENT AGREEMENT
THIS ADMINISTRATIVE SETTLEMENT AGREEMENT ("Agreement") is
executed as of the /6 day of August, 2006, by the City of Carmel, Indiana (the
"City"), by the City of Carmel Engineer, and Paula Y. Sowers ("Sowers").
WHEREAS, the City, in connection with its extension of Illinois street, north of
116th Street, Hamilton County, Indiana filed eminent domain actions in Hamilton County
Superior Court 1 against (Cause No. 29D01 -0508 -PL -692) Sowers, Charter One
Mortgage Corp, and Bank One.
WHEREAS, the City, after obtaining the court appointed appraisals of the Sowers
real property paid the sum of $513,000.00 (plus $3,000.00 appraisal fees) to the Hamilton
Coanty Clerk (-Fund-j;
WHEREAS, such Fund has not been invested in an interest bearing account;
WHEREAS, the City, and Sowers have met and have agreed to settle the above
described Litigation pursuant to the terms of this Agreement.
NOW, THEREFORE, in consideration of the mutual covenants, promises and
agreements contained herein, the parties hereto agree as follows:
Section 1. Payment from Fund and City. The City and Sowers request that the
Hamilton County Clerk disburse the Fund to Sowers, Charter One Mortgage Corp, and
Bank One. The City will pay Sowers the additional sum of $58,000.00. Such sum
includes moving expense of $6000.00 and additional payment for the transfer of the real
estate.
Section 2. Litigation. The parties will dismiss, with prejudice, the above
captioned litigation costs paid.
Seetiun 3. Warranty Deeds (" Narranty" ). Sowers shah provide City with a
warranty deed and releases of all mortgage liens. In addition, an appropriate W9 will be
sent to the City. Sowers acknowledges and agrees that the City is purchasing all of her
interest in the entire parcel of the Hamilton County Indiana real estate commonly known
as 300 Mallard Court, Carmel, IN 46032.
Section 4. Miscellaneous.
(a) The parties agree that this Agreement constitutes the entire agreement
between them, and that such Agreement may only be modified by written
agreement of the parties.
0
(b) This Agreement may be signed in counterparts, each of which shall be
deemed to be an original but all of which shall constitute one agreement.
(c) This Agreement shall be govemed, construed and enforced in accordance
with the laws of the State of Indiana, without regard to its conflict of law
provisions.
(d) Unless otherwise specified, any notices, demands or other communications
required or permitted hereunder shall be in writing and shall be deemed to
have been duly given if mailed by registered or certified mail, return receipt
requested, addressed as follows:
If to the City:
Mr. Michael McBride
City of Cannel
Engineering Office
One Civic Square
Cannel, IN 46032
If to the Sowers:
c/o Bruce Boje, Esq
RICHARDS, BOJE, PICKERING, BENNER & BECKER
1312 Maple Avenue
Noblesville, IN 46060
(e) In the event of any litigation to enforce the terms of this Agreement, the
prevailing party shall be entitled to reasonable attorneys' fees and costs.
(f) This Agreement shall be binding upon and shall inure to the benefit of the
City and Sowers and their respective successors and assigns.
(g) All parties shall comply with all applicable statutes, laws, ordinances,
regulations, orders, decrees and rules of all governmental authorities in
satisfying their obligations under this Agreement.
(h) No failure on the part of the non -breaching party to enforce the terms of this
Agreement in the event of a breach hereof shall be construed as a waiver of
such breach or as a waiver of future breaches. In the event that the non -
breaching party shall waive a particular breach, such waiver shall not be
deemed to be a waiver of any other breaches.
All of the recitals set forth above are incorporated herein by this reference.
(i)
This Agreement does not create any agency or employment relationship,
partnership, joint venture or co -venture between the City and Sowers.
Each of the parties agrees that, in its respective dealings with each other
arising out of or relating to this Agreement (including any negotiations), it
has and shall act fairly and in good faith.
Each signature to this Agreement represents and warrants that they have the
requisite authority to execute this Agreement and to bind the party for
which they represent, if any.
City of Carmel, Indiana
Michael T. McBride
City of Carmel Engineer
Paula Y. Sowers
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CITY OI - ARMEL
JAMES BRAINARD, MAYOR
LETTER OF TRANSMITTAL
Date: August 16, 2006
To: Sandy Johnson
Clerk -Treasurer's Office
From: Judy Stohler
Dept. of Engineering
RE: Original Administrative Agreement - Illinois Street Project
o f- Paula Y. Sowers
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Enclosed please find subject Agreement. This is an original document.
IMPARTMENT OF ENGINEERING
&MI, SQUARV. CR IEI.; IN 46032 OFFic, 3175712441 FAX 3175712439
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