NW Quarter of Section 26, Township 18 North, Range 3 East Termination of Restrictive Use Covenant AgreementTERMINATION OF RESTRICTIVE USE COVENANT AGREEMENT
This Agreement is made this day of (C M1a�(, 20 j b by and between the City
of Carmel ("Carmel") and CMC Office Center -Carmel, LLC ("CMC") as follows:
WHEREAS, the Carmel Clay Plan Commission on behalf of Carmel on March 19, 2002
approved Docket Number 147-O1DP/ADLS filed by CMC for the property described in Exhibit
A attached hereto which approval included the language contained in the Restrictive Use
Covenant attached hereto as Exhibit B; and
WHERAS, the restrictive use covenant language was not included in a commitment
concerning the use and development of real estate, and was not recorded in the Hamilton County
Recorder's Office; and
WHEREAS, the restrictive use covenant is a contract between CMC and Carmel; and
WHEREAS, the circumstances existing at time of the execution of the covenant have
now changed, Meridian Corners Boulevard has been converted to Illinois Street and the street
completed from West Main to West 13611 Street, Carmel; the Carmel ordinance regulating the
Meridian US 31 overlay zone has been amended to require full service hotels where constructed
and the need for hotels and transient guest services exist in the area of the real estate.
NOW THEREFORE, the parties agree as follows:
I. The Restrictive Use Covenant is terminated and the real estate described in
Exhibit A is no longer encumbered by the Covenant, however, remains subject to the zoning
ordinances of Carmel including the US 31 Meridian Street overlay zone.
2. The Letter of Grant dated March 22, 2002 is amended omitting paragraph I' which
reads,
"that the applicant draft the same language in submitted "Restrictive Use
Covenant" into cOxnmitment concerning the use and development of real estate" in a form found
acceptable by the commission attorney and upon approval, record and supply copy of the
recorded document.to the Department of Community Services and the Restrictive Use Covenant
terminated,"
3. Any development on the two remaining unbuilt parcels of Exhibit A (the North
Parcel and the South Parcel) remain subject to the approved development plan and will require
administrative ADLS approval.
Approved and Adopted this qday of �' nn
P -W Me Y- , 20J.
CITY OF CARMEL, INDIANA
By and through its Board of Public Works and Safety
Lori S. W*tson, '' ear
Date:
CMC Office Center -Carmel, LLC - Seller
BY: 5k
Title: &I e vy" (5w r
Date:
John M. Mutz — Buyer
BY:
John M. Mutz
Date:
M
10.14:11101
'ILIAIL
A part of Northwest Quarter of Section 26, Township 18 North, Range 3
East. Second Principal Meridian, pay Township, Hamilton County, Indiana,
Wing more partkulady described as follower.
COMMENM at the Southeast Corner of the Northwest Quarter of said
Section 26; thence on on assumed bung of South 88 degrees 29
O minutes 07 seconds Wept along the south line of said Northwest Quarter o
distance of 1125.87 to the POINT OF BEQNNINO; thence continuing South
88 degrees 29 minutes 07 seconds West along sold south line a distance
of 243.05 feet; thence North Ot degrees 30 minutes 53 seconds West a
distance of 4500 feet to the southeast comer of lot 2 of The -Parks at
Springmik recorded In Plat Cabinet 2, Slide 3411n the Office of the
Recorder of Hamilton County Ind'rono, said poki being on a non—tangent
curve to the right, the radius point of which bears South 75 degrees 38
minutes 30 seconds East a distance of 3036.83 feet; thence northeasterly
along said curve and along the east line of sok plat and along the .
southeasterly line of land descprbed in Instrument Number 94--13389,
concentric with the northwesterly right—of—way line of U. S Highway 31
(North Meridian Skeet), I. 5, H. Q Project S. T. F. 222(9) 1973, an arc
distance of 840.56 feet to a 5/$' rebar with a yellow cap stamped
'Schneider Firm #0001.0, which bears North 75 degrees 38 minutes 30
seconds West from said radius point; thence South 61 degrees 53 minutes
05 seconds East a distance of 600.50 feet to a 5/8' rebor with a yellow
cap stamped 'Schneider Firm. 10001' on the northwesterly right—of--Troy
line being a non—tongent curve to the left, the radius point of which bears
South 59 degrees 15 minutes 53 seconds East a distance of 2436.83 feet;
thence southwesterly along said right—ot way tine and curie an arc
distance of 481.51 feet to the. northwesterly right-of—way line of U.S`
Highway 31, said point bears North 70 degrees 35 minutes 10 seconds
West from said radius thence South 80 degrees 56 minutes 59 seconds
O 51 degrees 59dminuutes 02�seconds West along said right tf way rare South
right of be o distance of 3K20 �
distance of 31.10 feet; thence South Ot degres 30 minutes 53 seconds
East a distance of 16.50 feet to the PONT OF BEGWN% containing 9.54
acres, more or less.
Q
RESTRICTIVE USE COVENANT
CMC Office Center — Carmel, LLC ("CMC's, owner of the property described hereto in
Exhibit A, covenants with the City of Carmel that conditioned upon Secondary Plat Approval,
Development Plan Approval and Architectural Design, Lighting, Landscaping and Signing
Approval contain in Applications 147-01-DP-ADLS and 145-01 PP the use of the buildings to be
constructed on the described property by CMC will be for purposes of general and/or
professional offices and not for hotel or similar transient guests services. This Covenant shall
run with the land and be binding on CMC's successors and assigns.
CM Office Center — 1, LLC
By:
Grego . Land, me
STATE OF OHIO )
) ss:
COUNTY OF HAMILTON )
Before me, a Notary Public in and for said County and State, personally appeared
Gregory E. Land, who acknowledged the execution of the foregoing instrument and
acknowledged that the representations therein contained are true.
My commission expires:
MICHELE PIERCE
Notary Public, State of Ohio
My Commission Expires Oct. 21, 2004
My County of Residence: