Road Work/126/Gray RdAGREEMENT WITH RESPECT TO -
ROAD WORK
9978 bY and among Lumber Mart, Inc., an Indiana Corporation,
("Lumber"), the CITY OF CARbIEL,.. INDIANA, acting by and through
its Board of Public Works (Cityf and the HAMILTON COUNTY BOARD
OF CObLMISSIONERS (The Commissioners
} ITNESSE%I-{:
WHEREAS, Lumber is the legal' or., equitable owner of the real
estate
hereto
::.
WHEREAS, Lumber desires to develop the
residential subdivision and, in connection
petitioned to have the Real Estate annexed
an d
in Hamilton County, Indiana, described.~n Exhibit'A
(The Real Estate); and
Real Estate as a
therewith,.has ,
to the City of Carmel;~
IqHEREAS, the Ileal Estate .is bounded on the east by G~'ay
Road, on the south by 126th Street and the north by,131st'Street
("Road") which is part of the county highway system-.mainta.i, ned by
the Commissioners; and ~ "..'' ..
WHEREAS, Lumber, the City and the Commissioners desir~ to
provide for the i]nprovement of the Ro.ad and the Street .'jn
connection with the development of the Ileal Estate, :
NOW TI-IEREEORE, in consideration of the premises and..of ~he
mutual covenants herein contained Lumber Mart, Inc., th'e City-and
the Commissioners agree as follows: ·
1. The Road.
. ·
- (a)' l, umber sha~']., on or before the earlier of (4)the
date it commences development of residential lots abutting'the
Road or (ii) December 31, 1980 (The Commencement Date), p~av the
cost of or cause to be accomplighed the (A) widening of the wekt
half of the Road to accommodate twelve (12') of pavement and
six (6) foot shoulder, (B) fo~ming the requisite drainage,'ditches
on the west side of the Road and grading the area abutting the
west side of the Road to :finished grade, and (C) scarifying the
west half of the Road,
(b) Lumber shall, on or before the earlier 6f (i) .the
date it. comp'letes development of that portion of the Ileal Estate
that abuts the Road or (ii) December 31, 1982 (the ComPletion
Date), pay the cost of or cause to be accomplished the in.stalla-
tion' of a one inch (1") top coat of asphalt upon the westerly
twelve feet (12') of the Road,
(c) The Commissioner~ shall, on or before the Commen
Date, .pay the cost of or cause to be accomplished the.(A) w~dening
of the east half of the Road to accommoda.te tWelye feet (12'). of
pavement and a six (6) foot shoulder, (B) forming the requisite
drainage ditches on the east side of the Road and grading, the
area abutting the east side of the Road to finished grade, (C), :"'.
scarifying the east half of the Road, and (D) installing'~hree
inches (3") of asphaltic and one (1") inch top pavemen{ 0n~ .'..the
entire twenty-four :feet (24') pavement area of the Road.
(d) Ail work required to be done by L~be~ an8 the
Commissioners pursuant to this AgreemenZ shall be done in
accordance with the specifications for construction of Hamilton
County secondary.roads in effect on the date of this.Agreement,
(e) At such time as Lumber and the Commissioners ha~e
completed-all work on the Road required by this Agreement, the
City shall accept the Road for,maintenance by the City.
2. Miscellaneous.
(a) All refereuces in this'Agreement to the. Road is' ..".
o. nly'to'such portions thereof as abut the'Real Estate. . .
(b) This Agreement shall 'ihu're to the benefit of and
sbal.i be bSnding upon the successors and assigns of the parties
hereto. ~
IN WITNESS Wl-IEREOF, this'Agreem~{xt has been executed
tbe date first above written.
as to '
LUMBER MART, INC.
%~3~dS~f T. I-Iughe~;~
Vice-President
"Lumber"
HAMILTON
.. ~' ~ ~°mmlssz~e~l
~ ,, C ommi s s i~ nCe;'~,mi. 7 Si°n'er
THE CITY OF CARMEL, INDIANA,
acting through its Board of.
Public Works
ayor
City Attorn(