Closing Documents Illinois Street - SMS Development Administrative Settlement and Buyers Report0
MEMORANDUM
TO:
City of Carmel
One Civic Square
Carmel, IN 46032
JAMES BRAINARD, MAYOR
FROM: Gina M. Hansen, Acquisition Agent
RWS South, Inc.
5226 South East Street, Suite A-7
Indianapolis, IN TJ227
DATE: A l) 6( U.f 1(2 2005
RE:
Project:116`h Street & Spring Mill Road / Illinois Street
Code: N/A
Parcel: 6
County: Hamilton
Owner(s): SMS Development, Inc.
c/o Mark Isenberg
SUBJECT: Administrative Settlement
The City's acquisition agent has pursued the attempted acquisition of the above subject parcel to the point
where an impasse with the owner has been reached in regards to the amount of just compensation.
The City's fair market value determination of $ 84,505.00 for 0.198 acres of permanent right-of-way, 0.015
acres of a temporary easement, cost -to -cure items, and land improvements was offered to the owner(s).
During the negotiation process, the property owner(s) rejected this offer arguing the lesser appraisal did not
accurately reflect market value. They rejected this offer, stating they should have an additional
$13.495.00_
Two appraisal reports were completed for the subject parcel in the amount of $84,505.00 and
$98,170.00. The offer was based on the lesser of the two or $84,505.00.
The City believes it is in its best interest to settle this parcel for $98,000.00.
Therefore, the City's acquisition agent is directed to offer $98,000.00 to the owner(s). Should they not
accept, then the additional $13,495.00 will be withdrawn and the $84,505.00 figure will remain the approved
amount.
THIS ADM/ 1ISTRATIVE SETTLEMENT APPROVED:
DEPARTMENT OF ENGINEERING
ONE CMG SQUARE, CARJIEI., IN 46032 OFFICE 317.571.2441 FAX 317.571.2439
EMMi
engineeting@acarmel.in.us
Prescribed by State Board of Accounts
ACCOUNTS PAYABLE VOUCHER
CITY OF CARMEL , INDIANA
City Farm No. 201 (Rev. 1995)
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
SMS Development, LLC
Purchase Order No.
11460 North Meridian Street, Suite 200
Terms
Carmel, IN 46032
Date Due
Invoice
Date
Invoice
number
Description
(or note attached invoice(s) or bill(s))
Amount
PROJECT: 116`" Street & Spring Mill Road
PARCEL: 6
Appraised Amount:
$84,505.00
Administrative Settlement:
$13.495.00
Compensation for Permanent (Fee Simple)
Right -of -Way and Temporary Easement Total
$98,000.00
I hereby certify that the attached invoice(s), or 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
, 2005. By: -/
Signature j 5Co ff La GO
Title
I hereby certify that the attached invoice(s), or bill(s), is (are) true and correct and I have audited same in accordance
with IC 5-11-10-1.6.
20
Clerk -Treasurer
Page 4 PROJECT 116th St. and Spring Mill Rd. PARCEL 6
If you decide to accept the offer of $ 84,505.00 * , sign your name below and mail this form
to the address indicated above. An additional copy of this offer has been provided for your file.
ACCEPTANCE OF OFFER
I, (We) SMS Development LLC, an Indiana limited liability company
landowner(s) of the above described property or interest in property, hereby accept the offer of
$ 84,505.00 * made by the City of Carmel on this 395— day of
Altga r 2005.
Offered Amount:
Administrative Settlement:
Total:
$84,505.00
$13 495.00
$98,000.00
SMS Development, LLC, an Indiana limited liability company
By:
(Signature) (Signature)
(Printed Name and Title) (Printed Name and Title)
NOTARY'S CERTIFICATE
STATE OF ted_ cc -N rn )
SS:
COUNTY OF (tet
Subscribed and sworn to before me this 30+i' day of O'4*SL,- s -rt- 2005.
My Commission Expires: 51 gla°l I
My County of Residence is: yrThc A- L -c ti.
CC -c- c- Laec.ILLOOL,
(Signature)
)Gcc L3Da-0tiL
(Printed) NOTARY PUBLIC
0
CLOSING STATEMENT
Section 6045 of the Internal Revenue Code, as amended by the Tax Reform Act of 1986, requires
the reporting of certain information on every real estate transaction. The information provided
below, except for the tax identification number, is adequate information to provide to a tax
professional.
FEE OWNER: SMS Development, Inc.
ADDRESS: 11460 North Meridian Street, Suite 200, Indpls_, IN 46032
DESCRIPTION OF PROPERTY: A part of the Northwest Quarter of Section 2, Township 17
North, Range 3 East, Hamilton County, Indiana
PROJECT: 116"' Street / Spring Mill Road / Illinois Street
PARCEL: 6 COUNTY: Hamilton
CLOSING DATE: 11/21/05 PURCHASE PRICE: $ 98,000.00
LAND AND/OR
ADMINISTRATIVE SETTLEMENT:
IMPROVEMENTS: $74,555.00 DAMAGES:
$ 13,495.00
$ 9,950.00
1 (we) certify tht the above is true and correct and acknowledge receipt of payment.
Fee Owners
Signature
Yn&k A.�s
Dat
Signature Date
0
CITY OF CARMEL
BUYER'S REPORT (8)
PROJECT 116' St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
NAME & ADDRESS OF OWNER SMS Development, LLC
11460 North Meridian St., Suite 200, Carmel IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Mark Isenberg
11460 North Meridian St., Suite 200, Carmel IN 46032 PHONE 317.691.0289
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 6/27/05 TIME OF CONTACT 1:00 pm
OFFER $ 84,505.00 TYPE OF CONTACT: ( ) PERSONAL VISIT, (X) TELEPHONE CALL, () MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. N/A
2. NO
3. YES
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
4. N/A Any other liens, judgments, etc.?
5. N/A Showed plans? Explained take?
6. N/A Explained about retentions?
7. N/A Any major item retained?
8. N/A Any minor item retained?
9. N/A Walked over property?
10. N/A Arranged for owner to pay taxes?
11. NO Secured Right -of -Entry?
12. NO Secured Driveway Right -of -Entry?
13. N/A
14. NO
Sent Daily Notice to Relocation Section?
Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS:
15. N/A
16. N/A
17. N/A
18. N/A
19. N/A
20. NO
21. N/A
22. N/A
23. N/A
Written Offer?
Land Acquisition Brochure?
Retention Letter?
Statement of Just Compensation?
Tax memo (interim period)?
Receipt of Conveyance Instrument?
Copy of Conveyance Instrument?
Owner's Appraisal Letter?
Brochure, "Relocation & You"?
REMARKS: Mark Isenberg telephoned subsequent to receipt of the revised offer packet. He expressed his
°confusion as he had just received the letter rescinding the previous offer. I explained that the current offer is for
a total compensation of $84,505.00 and includes the acquisition of a temporary easement as well as the
permanent right-of-way previously discussed. Mr. Isenberg inquired of the timing and I explained that he has the
statutory time of 25 days unless he chose to waive them and reject the offer now. He stated that he preferred to
utilize the 25 days and may counter in some way.
7/13/05 (1:40 pm) - Craig Parks with American Consulting Inc., telephoned and inquired of any change with the
parcel. I explained that Mr. Insenberg is on vacation until July 18, 2005. Mr. Parks requested the file be forwarded
to Mr. Walsh as soon as possible along with an updated Condemnation Report.
Status of Parcel: ( )-Secured, (X) -Condemned, ( )-Other (Explain)
Distribution Made:
(X) Parcel
() Owner
() Weekly Summary
( ) Attorney
( ) Other (Specify)
(Signature)
State Form 2601 (R2/3-91) Page 1 of 1
0
CITY OF CARMEL
BUYER'S REPORT (7)
PROJECT 116`h St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton
NAME & ADDRESS OF OWNER SMS Development, LLC
CODE N/A
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Mark Isenberg
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.691.0289
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 6/23/05 TIME OF CONTACT 8:00 am
OFFER $ 84,505.00 TYPE OF CONTACT: () PERSONAL VISIT, () TELEPHONE CALL, (X) MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. N/A
2. NO
3. YES
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
13. N/A
14. NO
Sent Daily Notice to Relocation Section?
Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS: MAILED
4. N/A Any other liens, judgments, etc.? 15. YES
5. N/A Showed plans? Explained take? 16. YES
6. N/A Explained about retentions? 17. N/A
7. N/A Any major item retained? 18. YES
8. N/A Any minor item retained? 19. N/A
9. N/A Walked over property? 20. NO
10. N/A Arranged for owner to pay taxes? 21. YES
11. NO Secured Right -of -Entry? 22. YES
12. NO Secured Driveway Right -of -Entry? 23. N/A
Written Offer?
Land Acquisition Brochure?
Retention Letter?
Statement of Just Compensation?
Tax memo (interim period)?
Receipt of Conveyance Instrument?
Copy of Conveyance Instrument?
Owner's Appraisal Letter?
Brochure, "Relocation & You"?
REMARKS: I was directed by Craig Parks to extend a revised offer to include compensation for the temporary
easement. The offer packet was prepared and mailed "Certified - Return Receipt Requested" on June 24 2005,
with a delivery date of June 27, 2005. Included in the packet were the following forms/documents: the introductory
letter, the brochure "How Land is Purchased for Highways by Local Public Agencies" and the letter acknowledging
its receipt, the Uniform Land or Easement Acquisition Offer letter, the Statement of the Basis for Just
Compensation, the Warranty Deed with Exhibits, the Temporary Easement Agreement with Exhibit"A", the Limited
Liability Company Manager Authority Affidavit, the Sales Disclosure Form, the Accounts Payable Voucher, the
Taxpayer Identification Number Request (Form W-9), the "Owner's Private Appraisal Letter", and a highlighted
copy of the plan sheet. The introductory letter explained that the acquisition includes a permanent right-of-way
as well as a temporary easement. The permanent right-of-way contains 0.198 acres. The temporary easement
contains 0.015 acres and is required for drive construction. This area will revert to the owners upon completion
of the project. The acquisition areas were delineated on the plan sheet provided.
Status of Parcel: ( )-Secured, ( )-Condemned, ( )-Other (Explain)
Distribution Made:
(X) Parcel
( ) Owner
( ) Weekly Summary
( ) Attorney
( ) Other (Specify)
(Signature)
State Form 2601 (R2/3-91) Page 1 of 1
0
CITY OF CARMEL
BUYER'S REPORT (6)
PROJECT 116`" St. & Sprint' Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
NAME & ADDRESS OF OWNER SMS Development, LLC
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Mark Isenberg
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.691.0289
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 6/14/05 TIME OF CONTACT N/A
OFFER $ 84.505.00 TYPE OF CONTACT: () PERSONAL VISIT, () TELEPHONE CALL, (X) MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. N/A
2. NO
3. YES
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
4. N/A Any other liens, judgments, etc.?
5. N/A Showed plans? Explained take?
6. N/A Explained about retentions?
7. N/A Any major item retained?
8. N/A Any minor item retained?
9. N/A Walked over property?
10. N/A Arranged for owner to pay taxes?
11. NO Secured Right -of -Entry?
12. NO Secured Driveway Right -of -Entry?
13. N/A Sent Daily Notice to Relocation Section?
14. NO Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS:
15. N/A
16. N/A
17. N/A
18. N/A
19. N/A
20. NO
21. N/A
22. N/A
23. N/A
Written Offer?
Land Acquisition Brochure?
Retention Letter?
Statement of Just Compensation?
Tax memo (interim period)?
Receipt of Conveyance Instrument?
Copy of Conveyance Instrument?
Owner's Appraisal Letter?
Brochure, "Relocation & You"?
REMARKS: Subsequent to forwarding the file to Michael S. Walsh for condemnation proceedings to
0 commence, I was directed via email by Craig Parks with American Consulting, Inc., to send out a letter rescinding
the offer to SMS Development, Inc. The letter, which was approved by Mike McBride, was forwarded via "certified"
mail on June 14, 2005, and received on June 15, 2005.
Status of Parcel: ()-Secured, ( )-Condemned, ( )-Other (Explain)
Distribution Made:
(X) Parcel () Attorney
( ) Owner ( ) Other (Specify) ` [Y! a---
( )
---() Weekly Summary
(Signature)
State Form 2601 (R2/3-91) Page 1 of 1
0
0
CITY OF CARMEL
BUYER'S REPORT (5)
PROJECT 116`h St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
NAME & ADDRESS OF OWNER SMS Development, LLC
11460 North Meridian SL Suite 200, Carmel IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Scott Law
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.691.0289
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 2/21/05 TIME OF CONTACT 3:40 pm
OFFER $ 83,055.00 TYPE OF CONTACT: ( ) PERSONAL VISIT, (X) TELEPHONE CALL, () MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. N/A
2. NO
3. YES
4. N/A
5. N/A
6. N/A
7. N/A
8. N/A
9. N/A
10. N/A
11. NO
12. NO
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
Any other liens, judgments, etc.?
Showed plans? Explained take?
Explained about retentions?
Any major item retained?
Any minor item retained?
Walked over property?
Arranged for owner to pay taxes?
Secured Right -of -Entry? --
Secured
Secured Driveway Right -of -Entry?
13. N/A Sent Daily Notice to Relocation Section?
14. NO Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS:
15. N/A
16. N/A
17. N/A
18. N/A
19. N/A
20. NO
21. N/A
22. N/A
23. N/A
Written Offer?
Land Acquisition Brochure?
Retention Letter?
Statement of Just Compensation?
Tax memo (interim period)?
Receipt of Conveyance Instrument?
Copy of Conveyance Instrument?
Owner's Appraisal Letter?
Brochure, "Relocation & You"?
REMARKS: As Mr. Isenberg was out of the Country, he requested that I contact Mr. Scott Law. I explained to
Mr. Law that the City is unwilling to increase compensation to S200.000.00. without adequate support. However,
the City is permitted and willing to increase the offer to 91,300.00, which is the average of the two appraisals. Mr.
Law stated that he. too, is concerned that they were not included in the appraisal process and that no owner
contact was made. I explained to Mr. Law that owner contact attempts were made. Letters were mailed to the
address listed on the County records, but were returned. Additionally, Ralph Balber, their leasing agent had been
contacted. Mr. Law believes that they have been "backed against a wall". I explained that in accordance with
Indiana Code 32-24-1, as stated in the letter provided them on January 31. 2005, property owners have 25 days
to accept or reject the offer presented. Mr. Law stated that they reject the offer. I explained their right to submit
an inde.endent a .raisal for the Cit 's review should the discree with the offer •resented. I also ex.lained that
although I have been advised to submit the file to the City attorney in order that eminent domain proceedings
commence, the City prefers reaching an agreement prior to condemnation if possible. Mr. Law informed me that
Status of Parcel: 0 -Secured, (X) -Condemned, 0 -Other (Explain)
Distribution Made:
(X) Parcel () Attorney
(X) Owner ( ) Other (Specify)
() Weekly Summary
State Form 2601 (R2/3-91)
(Signature)
Page 1 of 2
BUYER'S REPORT (5)
ROJECT 1161h St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
REMARKS (Cont'd) the staking had been completed and it is their opinion that even more parking is being
acquired than they originally thought.
2/23/05 - I was requested by the City to forward a Right -of -Entry document along with the legal descriptions to
the City Attorney, Mike Walsh.
3/4/05 - I was directed to submit the assembled parcel file along with a completed Condemnation Report, in the
event eminent domain is required.
State Form 20625 (R/5-90)
Signature Date
Page 2 of 2
CITY OF CARMEL
BUYER'S REPORT (4)
PROJECT 116th St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
NAME & ADDRESS OF OWNER SMS Development, LLC
11460 North Meridian St.. Suite 200 Carmel IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Mark Isenberg
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.705.5050
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 2/18/05 TIN/1E OF CONTACT 10:30 am
OFFER $ 83,055.00 TYPE OF CONTACT: () PERSONAL VISIT, (X) TELEPHONE CALL, ( ) MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. N/A
2. NO
3. YES
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
4. N/A Any other liens, judgments, etc.?
5. N/A Showed plans? Explained take?
6. N/A Explained about retentions?
7. N/A Any major item retained?
8. N/A Any minor item retained?
9. N/A Walked over property?
10. N/A Arranged for owner to pay taxes?
11. NO Secured Right -of -Entry?
12. NO Secured Driveway Right -of -Entry?
13. N/A Sent Daily Notice to Relocation Section?
14. NO Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS:
15. N/A Written Offer?
16. N/A Land Acquisition Brochure?
17. N/A Retention Letter?
18. N/A Statement of Just Compensation?
19. N/A Tax memo (interim period)?
20. NO Receipt of Conveyance Instrument?
21. N/A Copy of Conveyance Instrument?
22. N/A Owner's Appraisal Letter?
23. N/A Brochure, "Relocation & You"?
REMARKS: Mr. Isenberg was contacted. As he did not answer, I left a message explaining that timing was an
0 issue with this proiect and requested that he contact me at his earliest convenience. Mr. Isenberg returned my call
promotly. I explained the acquisition area was to be staked on Monday, February 215t. Additionally, I explained
that I had been directed to forward a "10 Day Letter" and its content and purpose were explained. Should the offer
be unacceptable. I was advised to forward the file to the office of the City attorney. Mr. Isenberg was quite upset
that ample time was not allowed for them to consult with an independent appraiser and to respond. I explained
that Indiana Code provides for 25 days to consider the offer. However forwarding the file does not preclude
reaching an agreement if possible. He reiterated his dismay that they were not notified during the appraisal phase.
I again explained that specific information was not required by the appraisers to complete the assignment. I also
explained that owner contact letters had been mailed to the address indicated on the County property record
cards, but they were returned. Additionally, the appraiser spoke with a Mr. Ralph Balber, the leasing agent for the
building. He stated that he was aware of the project and provided useful information to the appraiser. I explained
Status of Parcel: ( )-Secured, ( )-Condemned, ( )-Other (Explain)
Distribution Made:
(X) Parcel ( ) Attorney
rlti
(X) Owner ( ) Other (Specify)
( ) Weekly Summary (Signature
Stale Form 2601 (R213-91)
Page 1 of 2
BUYER'S REPORT (4)
°PROJECT 116' St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
REMARKS (Cont'd) that the City will delay continuing the condemnation process, provided the owners execute
a Riaht of Entry document. This document allows the City to commence with the road improvement project without
delay. Mr. Isenberg declined as he believes they may lose some leverage by allowing the City to progress with
the project.
(12:30 pm) - Mr. Isenberg telephoned me and stated that he consulted with his partners and in an effort to settle
and avoid court, they would be willing to settle for $200,000.00. Reportedly, this number was determined by
utilizing $520,000 per acre for the land being acquired, plus damages as a result of lost parking.
State Form 20625 (R15-90)
ignature Date
Page 2 of 2
0
CITY OF CARMEL
BUYER'S REPORT (3)
PROJECT 116th St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
NAME & ADDRESS OF OWNER SMS Development, LLC
11460 North Meridian St., Suite 200. Carmel IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Mark Isenberg
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.705.5050
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 2/16/05 TIME OF CONTACT 11:00 am
OFFER $ 83,055.00 TYPE OF CONTACT: () PERSONAL VISIT, (X) TELEPHONE CALL, (X) MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. N/A
2. NO
3. YES
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
4. N/A Any other liens, judgments, etc.?
5. N/A Showed plans? Explained take?
6. N/A Explained about retentions?
7. N/A Any major item retained?
8. N/A Any minor item retained?
9. N/A Walked over property?
10. N/A Arranged for owner to pay taxes?
11. NO Secured Right -of -Entry?
12. NO Secured Driveway Right -of -Entry?
13. N/A Sent Daily Notice to Relocation Section?
14. NO Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS:
15. N/A Written Offer?
16. N/A Land Acquisition Brochure?
17. N/A Retention Letter?
18. N/A Statement of Just Compensation?
19. N/A Tax memo (interim period)?
20. NO Receipt of Conveyance Instrument?
21. N/A Copy of Conveyance Instrument?
22. N/A Owner's Appraisal Letter?
23. N/A Brochure, "Relocation & You"?
REMARKS: I telephoned Mr. Isenberg and explained that approval was given to provide copies of the
a..raisals which would be mailed •rom.tl . Mr. Isenber. re.uested that the ac•uisition area be staked to allow
a better visual for them. I stated that I would forward this request.
Status of Parcel: ( )-Secured, ( )-Condemned, ( )-Other (Explain)
Distribution Made:
(X) Parcel ( ) Attorney
(X) Owner ( ) Other (Specify)
() Weekly Summary
(Signature)
State Form 2601 (R2/3-91) Page 1 of 1
0
CITY OF CARMEL
BUYER'S REPORT (2)
PROJECT 116' St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
NAME & ADDRESS OF OWNER SMS Development, LLC
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Mark Isenberg
11460 North Meridian St., Suite 200 Carmel, IN 46032 PHONE 317.705.5050
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 2/2/05 TIME OF CONTACT 11:00 am
OFFER $ 83,055.00 TYPE OF CONTACT: (X) PERSONAL VISIT, (X) TELEPHONE CALL, () MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. N/A
2. NO
3. YES
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
4. N/A Any other liens, judgments, etc.?
5. YES Showed plans? Explained take?
6. N/A Explained about retentions?
7. N/A Any major item retained?
8. N/A Any minor item retained?
9. NO Walked over property?
10. N/A Arranged for owner to pay taxes?
11. NO Secured Right -of -Entry?
12. NO Secured Driveway Right -of -Entry?
13. N/A
14. NO
Sent Daily Notice to Relocation Section?
Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS:
15. N/A
16. N/A
17. N/A
18. N/A
19. N/A
20. NO
21. N/A
22. N/A
23. N/A
Written Offer?
Land Acquisition Brochure?
Retention Letter?
Statement of Just Compensation?
Tax memo (interim period)?
Receipt of Conveyance Instrument?
Copy of Conveyance Instrument?
Owner's Appraisal Letter?
Brochure, "Relocation & You"?
0 REMARKS: Subsequent to review of the offer packet, Mr. Isenberg telephoned and requested a meeting for
Friday, February 11, 2005, at 2:00 pm. He inquired of the possibility of viewing the appraisal reports. I explained
that typically, the appraisals are considered confidential and the property of the City of Carmel but that I would
forward his request. Mr. Isenberg expressed his concern that the offer seems low, especially given that parking
is potentially being lost.
2/11/05 (2:00 pm) - At the prearranged time 1 met Mr. Isenberg at the subiect property. The proposed plans were
reviewed including the Plan and Profile sheets, the Construction Detail sheets, and the Signing and Pavement
Markings sheet. I provided Mr. Isenberg a copy of the full size Construction Detail sheet for the subject property.
I noted the location of the proposed road as well as the proposed concrete curb and gutter and drive entrances.
Mr. Isenberg believes that parking spaces will be lost, which may adversely affect their leasing ability and deter
potential lessees. The appraisal process was discussed. Mr. Isenberg was extremely upset that they were not
provided an opportunity to meet with the appraisers during the appraisal process as he believes current rental
Status of Parcel: ( )-Secured, ( )-Condemned, ( )-Other (Explain)
Distribution Made:
(X) Parcel
(X) Owner
() Weekly Summary
( ) Attorney
( ) Other (Specify)
(Signature)
State Form 2601 (R2/3-91) Page 1 of 2
BUYER'S REPORT (2)
0PROJECT 116`h St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
REMARKS (Cont'd): information and other pertinent information could have been provided. I explained that the
appraisal problem did not warrant specific rental information as the appraisers concluded that parking damages
are not warranted. The land was valued appropriately by the Sales Comparison method. The Statement of the
Basis for Just Compensation which was included in the mailed packet, was discussed. It provides an itemization
of the compensation offered. A monetary amount of $4,500.00 is included as a cost -to -cure item to relocate
asphalt parking area. It is the opinion of the appraisers that the acquired parking area can be reconfigured in
another area on the subject property. The amount allocated is an estimate to complete this work. Mr. Isenberg
disagreed with this scenario as he believes the acquired parking would then, in essence. replace future viable
parking and consequently, still constitutes damages. As his partners were unable to attend the meeting, he
requested they be allowed copies of the appraisal reports. I explained that I would forward his request. Their
options at this point were discussed and the process should the offer not be acceptable. The 25 days allowed by
Indiana Code was discussed. I explained that I was unsure of the timing of the project, but would let them now if
the 25 days would be strictly enforced. He explained that he is leaving the Country on Saturday and would be pone
for a week. It was Mr. Isenberg's opinion that the offer is low. He discussed the Clarian sale and believes this sale
and other recent sales support a higher per unit value than indicated.
03/4A c
Signature Date
Page 2 of 2
State Form 20625 (R/5-90)
0
CITY OF CARMEL
BUYER'S REPORT (1)
PROJECT 1161h St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY
Hamilton CODE N/A
NAME & ADDRESS OF OWNER SMS Development, LLC
11460 North Meridian St., Suite 200 Carmel IN 46032 PHONE 317.705.5050
NAME & ADDRESS OF PERSON CONTACTED Mark Isenberg
11460 North Meridian St., Suite 200, Carmel, IN 46032 PHONE 317.705.5050
(List other interested parties on reverse side including nature of their interest)
DATE ASSIGNED 1/12/05 DATE OF CONTACT 1/17/05 TIME OF CONTACT 10:00 am
OFFER $ 83,055.00 TYPE OF CONTACT: () PERSONAL VISIT, (X) TELEPHONE CALL, (X) MAIL
Write: YES, NO or N/A (for Not Applicable), as appropriate, in each numbered blank space:
1. YES
2. NO
3. YES
Checked Abstract with owner?
Any affidavits taken?
Any mortgage(s)?
13. N/A Sent Daily Notice to Relocation Section?
14. NO Secured W-9 Form?
LEFT FOLLOWING PAPERS WITH OWNERS: (Mailed)
4. N/A Any other liens, judgments, etc.? 15. YES
5. YES Showed plans? Explained take? 16. YES
6. N/A Explained about retentions? 17. N/A
7. N/A Any major item retained? 18. YES
8. N/A Any minor item retained? 19. YES
9. NO Walked over property? 20. NO
10. N/A Arranged for owner to pay taxes? 21. YES
11. NO Secured Right -of -Entry? 22. YES
12. NO Secured Driveway Right -of -Entry? 23. N/A
Written Offer?
Land Acquisition Brochure?
Retention Letter?
Statement of Just Compensation?
Tax memo (interim period)?
Receipt of Conveyance Instrument?
Copy of Conveyance Instrument?
Owner's Appraisal Letter?
Brochure, "Relocation & You"?
REMARKS: I contacted Mr. Mark Isenberg and left a message explaining that I am assisting the City of Carmel
0 with the acquisition phase of the 116' Street, Spring Mill Road, and Illinois Street road improvement project. Mr.
Isenberg responded promptly. I then explained that in conjunction with the project. I need to present an offer for
the purchase of the required right-of-way. When provided the option of meeting for the presentation of the offer
or having it mailed, Mr. Isenberg preferred it be mailed. Ownership and the mailing address were confirmed. Upon
receipt of the signed Statement of the Basis for Just Compensation, I mailed the offer packet via "Certified" mail,
return receipt requested, on January 28, 2005, with a date of delivery on January 31, 2005. Included in the packet
were the following forms/documents: an introductory letter, the brochure "How Land is Purchased for Highways
by Local Public Agencies" and the letter acknowledging its receipt, the Uniform Land or Easement Acquisition
Offer letter, the Statement of the Basis for Just Compensation, the Warranty Deed with Exhibits, the Limited
Liability Company Manager Authority Affidavit the Sales Disclosure Form the Accounts Payable Voucher, the
Taxpayer Identification Number request (Form W-9), the "Owner's Private Appraisal Letter", and a copy of the
highlighted plan sheet. The Uniform Land or Easement Acquisition Offer letter, in accordance with I.C. 32-24-1
Status of Parcel: ()-Secured, ( )-Condemned, ( )-Other (Explain)
Distribution Made:
(X) Parcel ( ) Attorney
(X) Owner ( ) Other (Specify)
() Weekly Summary
(Signature)
State Form 2601 (R2/3-91) Page 1 of 2
BUYER'S REPORT (1)
°PROJECT 116`h St. & Spring Mill Rd. / Illinois St. PARCEL 6 COUNTY Hamilton CODE N/A
REMARKS (Cont'd): provides only 25 days from its receipt to accept or resect the City's offer. The 25 days may
be waived and the offer accepted or rejected now or at anytime during this period. It was also indicated that the
legally protected rights and options under Indiana's eminent domain law are set forth on page two of the Uniform
Land or Easement Offer Letter as well as within the brochure, "How Land is Purchased for Highways by Local
Public Agencies". It was explained that typically, the City makes payment within 90 days after receiving the
secured parcel file from the consultant and Indiana law dictates that possession of the property will transfer to the
City thirty (30) days after payment is received. The introductory letter mailed in conjunction with the offer explained
that the project is to improve 116th Street, Spring Mill Road, and Illinois Street. More specifically, a portion of the
subject property is required as permanent (feesimple) right-of-way. The permanent acquisition area known as
Parcel 6 contains 0.198 acres. A copy of the plan sheet delineating the acquisition area was provided. The
forms/documents requiring signatures and notarization were indicated. The owner or a representative was invited
to call with any questions or to schedule an appointment if so desired. My number was again provided.
State Form 20625 (R/5-90)
Signature Date
Page 2 of 2
0
Project: 116th Street & Spring Mill Road
Parcel: 6
Owners: SMS Development, LLC
c/o Mark Isenberg
RE: 116`h Street & Spring Mill Road
Dear Mr. Isenberg:
This letter is to certify that the undersigned acknowledges the receipt of the brochure
How Land is Purchased for Highways by Local Public Agencies.
(Date)
I
By:
(Date) (Signature)
151 North Delaware
Suite 750
Indianapolis. IN 46204
Tel. 317-974-0504
Fax. 3I7-971-0510
PREMIER CAPITAL
C O R P O R A T 1 0 N
7sstersiry t/se Success c*C) 'antes busesess
October 3, 2005
Ms. Gina Hansen
RWS South, Inc.
5226 S. East Street, Suite A7
Indianapolis, IN 46227
Dear Gina,
Enclosed is the Partial Release of Real Estate Mortgage for SMS
Development, LLC. The U.S. Small Business Administration has approved
the request to facilitate a road improvement project planned by the City of
Carmel, Indiana. Please return a copy of the signed and recorded document to
our office for our files. Thank you for your assistance.
Peter Rekis
Premier Capital Corporation
aS
Senior Loan Officer
Enc.
Email: pc66 premiercapialcorp-c<nn
Vlreltiite:.msw_prcimercapiralcorp cons
OLD NATIONAL
September 29, 2005
RWS South, Inc.
ATTN: Gina Hansen
5226 S East Street, Suite 7
Indianapolis, IN 46227
RE: SMS Partial Releases
Dear Gina,
Ba nkin¢. 1 nvestments. Insura nce.
Enclosed are 4 original partial releases for SMS Development, Inc. for recording. Per
Len Devaisher, we do not require any funds be paid towards the loan for these partial
releases. If possible, please forward copies of the recorded released to my attention when
available.
If you have any questions, please feel free to contact Len Devaisher or myself at (317)
693-2529.
�l 6-Cii-liJS)1\1'
Dawn Golubskt
Commercial Loan Assistant
Old National
101 West Ohio Street, Suite 2200
Indianapolis, IN 46204
T: 317.693.2562
F: 317.693.2541
oldnational.com
August 22, 2005
5226 S. East St., Suite 7, Indianapolis, IN 46227
317.781.9723 • Fax 317.781.9727 • rws@mibor.net
SMS Development, LLC
c/o Mark Isenberg
11460 North Meridian Street, Suite 200
Carmel, IN 46032
Re: Project: 116th Street & Spring Mill Road
Parcel: 6
County: Hamilton
Dear Mr. Isenberg:
As discussed, the City of Carmel has approved an increase in the amount of $13,495.00 as an
administrative settlement. The compensation will total $98,000.00.
Should this be acceptable, the following forms/documents have been revised accordingly and are
enclosed:
1. Page 4 of the Uniform Land or Easement Acquisition Offer (must be notarized);
2. The Warranty Deed with Exhibits (must be notarized);
3. The Accounts Payable Voucher;
Additional documents requiring execution and/or notarization are as follows:
4. The letter acknowledging receipt of the brochure, "How Land is Purchased for
Highways by Local Public Agencies";
5. The Temporary Easement Agreement (must be notarized);
6. The Limited Liability Company Manager Authority Affidavit (must be notarized);
7. The Sales Disclosure Form;
8. The Taxpayer Identification Number Request (W-9 form).
Please return the signed and notarized originals in the self-addressed, stamped envelope provided.
Should you have questions or require notary assistance, please do not hesitate to contact me at
781.9723.
Most sincerely,
RWS South, Inc.
Gina M. Hansen
GMH:bzw
Enclosures