Meridian Development Partners (Franciscan)/Payment in Lieu of Taxes 2019043722 AGRE $25.00
09/12/2019 12:31:14PM 6 PGS
Jennifer Hayden
Hamilton County Recorder IN
Recorded as Presented
IIII I I I I I III I III I III I I I IIII I I I III III IIII II IIII LSB
AGREEMENT TO MAKE PAYMENTS
IN LIEU OF TAXES
This Agreement to Make Payments in Lieu of Taxes (the"Agreement"), is hereby .4.
entered into by and between the City of Carmel, Indiana, an Indiana municipal corporation,by
and through its Board of Public Works and Safety (the"City"), and Meridian Development 490 r
Services,LLC ("Meridian"), as follows:
WHEREAS, Meridian owns two adjacent parcels of real property that total
approximately seventeen(17) acres in size and are located at 0 Illinois Street, Carmel, Indiana
and 0 US 31 N, Cannel, IN(the"Parcels"), which Parcels are more specifically described in
Exhibit A, attached hereto and incorporated herein by this reference; and
WHEREAS, the Parcels were recently re-zoned from Residential S-2 to Meridian
Corridor district(the"Re-Zone"); and
WHEREAS, in order to facilitate the Re-Zone and thereby allow the highest and best use
of the Parcels,while at the same time enhancing the City's tax base,Meridian has voluntarily
agreed to make certain commitments with respect to the payment of property taxes, or payments
in lieu of property taxes as set forth in this Agreement.
NOW,THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the City and Meridian agree as follows:
1. Alternate Payments. If, for any reason, either and/or both of the Parcels become tax-
exempt, then Meridian shall make alternate payments in lieu of property taxes ("Alternate
Payments"). If Meridian is obligated to make Alternate Payments,then Meridian shall
make the Alternate Payments to the City in semi-annual installments,which shall be due
on the same date on which payments for Hamilton County, Indiana real estate taxes are
due.
2, Payment Amount. The Alternate Payment amount shall be the equivalent of the
property tax obligations which would otherwise be owed by Meridian if the Parcels were
not tax-exempt,based on the assessment of the Parcels by the Hamilton County
Assessor's Office.
a. Reassessment. If Meridian is obligated to make Alternate Payments, then each
time there is a general reassessment of the Parcels for the purpose of determining
property taxes, either the City or Meridian may request a reassessment of the
Parcels, after which reassessment the amount of the annual Alternate Payments
shall be recalculated to reflect the new assessed values.
3. Term. Alternate Payments shall be made in perpetuity for as long as either and/or both of
the Parcels remain tax-exempt.
4. Meridian expressly acknowledges that its duties under this Agreement touch and concern
the Parcels,and that its obligation to make Alternate Payments shall run with the Parcels
and be binding upon and enforceable against Meridian and its successors in title or
interest therein to the extent that the underlying obligations remain in effect.
5. This Agreement shall be recorded as an in rem obligation in the Office of the Hamilton
County Recorder immediately following execution by the parties hereto.
6. Each of the parties to this Agreement hereby represents and warrants that this Agreement
has been duly authorized, executed and delivered by such party, and is valid,binding and
enforceable against such party.
7. This Agreement shall be governed by the laws of the State of Indiana. The parties agree
that, in the event a lawsuit is filed hereunder,they waive their right to a jury trial, agree to
file any such lawsuit in an appropriate_court in Hamilton County, Indiana only, and agree
that such court is the appropriate venue for and has jurisdiction over same.
8. This Agreement may amended only by a written amendment executed by both the City
and Meridian. If any term or condition of this Agreement is invalid or unenforceable,
then such invalid or unenforceable term or condition shall not affect the application,
validity, or enforceability of any other term or condition.
9. The parties warrant that they have read this Agreement and understand it,have had the
opportunity to obtain legal advice and assistance of counsel throughout the negotiation of
this Agreement, and enter into same freely,voluntarily, and without any duress,undue
influence or coercion.
10. This Agreement, together with any exhibits attached hereto or referenced herein,
constitutes the entire agreement between the parties with respect to the subject matter
hereof, and supersedes all prior oral or written representations and agreements regarding
same.
11.The effective date of this Agreement shall be the date on which the last of the parties
hereto executes the same.
[signature page follows]
IN WITNESS WHEREOF, the parties hereto have made and executed this Agreement as
follows:
MERIDIAN DEVELOPMENT S VICES,L
/1:„.„,.../_.
Signature
Martin Rosenberg
Printed Name
Date: 05/02/2019
STATE OF INDIANA )
SS:
COUNTY OF AAA!b IV )
Wore me, a Notary Public in and for said County and State,personally appeared
Mar+i N NP L k ,by me known, and who acknowledged the execution of the foregoing
"AGREEMENT TO MAKE PAYMENTS IN LIEU OF TAXES"as his or her voluntary act and
deed. y�
Witness my hand and Notarial Seal thisa ►�`Nt day of ' ut ,21 11.
NOTARY P LIC I
My Commission Expires: a . k/t ct N Ni
05/o sl`ldaL Printed Name ,
tlE A b12 lCk S
My County of Residence:
1640
iN®,AR'',4A Notary Seal
tp ,8€A;,s ,.F State of Indiana
CITY OF CARMEL, INDIANA,
BY AND THROUGH ITS BOARD OF
PUBLIC WORKS AND SAFETY
BY: J
James Brainard,Presiding Officer
Date:
Mar A urke, ber
Date: Lsr—
Lori Watso , ber Date: /' i'?
............ATTEST: ........Z
2
hristin . auley, Cler `T ey�urer
Date: !!
STATE OF INDIANA )
)SS:
COUNTY OF HAMILTON )
Before me, a Notary Public in and for said County and State, personally appeared
, MARY ANN BURKE and LORI WATSON, by me known, and by me
known to be the Members of the City of Carmel Board of Public Works and Safety, and
CHRISTINE S. PAULEY, Clerk-Treasurer of THE CITY OF CARMEL, who acknowledged the
execution of the foregoing "Agreement to Make Payments in Lieu of Taxes" on behalf of the
City of Carmel, Indiana.
Witness my hand and Notarial Seal this 1/J day of Mat ,20 lei .
1@veunALA—
NOTARY PUBLIC
My Commission Expires: •40/ /1 (/V/, � -/1/c 11
31/(o ft/_ Printed Name1ii My County of Residence: 1 1 Gl'tv1l I
bin
DIANNE WALTHALL
Seal
Notary Public State of Indiana
Hamilton County
My Commission Tres Mar 16,2024
— — — — — —
This instrument was prepared by Jon A. Oberlander, Esquire, Assistant Corporation Counsel, 1
Civic Square, Carmel,Indiana 46032.
I affirm, under the penalties for perjury, that I have taken reasonable care to redact each Social
Security Number in this document, unless required by law. Jon A. Oberlander,Esquire
Exhibit A- Parcels 17-13-02-00-00-031.000 and 17-31-02-00-00-023.000 5
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