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Pennsylvania/116th - Meridian Mil AssociatesDULY ENTERED FA TyXATION Subjectto final acceptance for transfer .day of, r� 20 ,e0-140 7)1,714:114) Auditor of Hamllton.County Parcel GRANT OF RIGHT -OF -WAY RECITALS Filled in HAMILTON COUNTY, INDIANA MARY L CLARK 05 -18 -2001 01:26 pm. RT OF WAY 21.00 THIS GRANT OF RIGHT -OF -WAY (this "Grant is made this of rear 2000, by and between MERIDIAN MILE ASSOCIATES, A LIMITED PARTNERSHIP, a limited partnership organized and existing under the laws of the State of Indiana "Grantor and the CITY OF CARMEL, INDIANA, by and through its Board of Public Works and Safety "Grantee On September 13, 1983, Grantor and Albert and Adele Lowe, Husband and Wife (the "Lowes entered into a certain Cross Easement Agreement which Cross Easement Agreement was recorded September 13, 1983, in Easement Record 1, page 356, in the Office of the Recorder of Hamilton County, Indiana (the "Cross- Easement Agreement II. The Cross Easement Agreement, among other things, provided for the construction, maintenance and repair of an extension of "Penn Road," a thoroughfare located in Hamilton County, Indiana, extending from 116th Street (a public street located in Hamilton County, Indiana) south to a line approximately 1,311 feet south of the then existing south right -of -way line of the aforementioned 116th Street and approximately 50 feet in width (the "Penn Road Extension which Penn Road Extension is more particularly described on Exhibit A attached hereto and incorporated herein by this reference. The Penn Road Extension was constructed to provide access for property adjacent thereto owned by Grantor and the Lowes (the "Benefited Property as such Benefited Property is more particularly described in the Cross Easement Agreement. III. Pursuant to the terms of the Cross Easement Agreement, each of the Grantor and the Lowes, acting individually or in unison, were granted the right to dedicate the Penn Road Extension to the public for street right -of -way, underground utility and related purposes. IV. Grantor now desires to dedicate the Penn Road Extension to Grantee, and Grantee desires to accept such dedication, on the terms and conditions set forth herein. NOW, THEREFORE, in consideration of the foregoing Recitals, all of which are incorporated in this Grant by reference, of the mutual promises and covenants set forth herein, and of other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Grantor and Grantee hereby agree as follows: 1. Grant of Right -of -Way. Grantor hereby GRANTS and CONVEYS to Grantee the Penn Road Extension, which Penn Road Extension is to be dedicated to the use of the public in accordance with the laws of the State of Indiana. Such grant is made subject to all easements, agreements, restrictions, rights -of -way, and other exceptions of record, such matters as would be disclosed by an accurate survey of the Penn Road Extension, and the lien for non delinquent real property taxes. This Grant is conditioned on and given in consideration of the Grantee's undertaking of the obligation to maintain and repair the Penn Road Extension, as more fully set forth below. In connection with this Grant, Grantor represents and warrants to Grantee as follows: (a) Grantor acknowledges that pursuant to the terms of the Cross Easement Agreement, the right to dedicate the Penn Road Extension to the use of the public could only be transferred and conveyed by Grantor by an express grant in a deed of conveyance for all or a portion of the Benefited Property, or by the Lowes upon death or by an express grant in a deed of conveyance for all or a portion of the Benefited Property. Grantor has not previously conveyed its right to dedicate the Penn Road Extension, and Grantor has retained its right to dedicate the Penn Road Extension as established by the Cross Easement Agreement. (b) Pursuant to the Cross Easement Agreement, at least seven (7) days' prior notice has been delivered to the Lowes, and /or their respective grantees, successors, and assigns, and to the grantees, successors and assigns of Grantor. (c) The Penn Road Extension is not known to have been previously dedicated to the public by Grantor and to the best of Grantor's knowledge remains a private roadway at this time. 2. Acceptance by Grantee. Grantee hereby acknowledges that the grant of right -of -way evidenced by this Grant is desirable and necessary for the City of Carmel, and Grantee, under and by virtue of the power conferred upon it by statutes of the State of Indiana, accepts this grant of right -of- way for the Penn Road Extension. 3. Obligation to Maintain and Repair. In consideration of the grant of right -of -way made herein, Grantee hereby agrees to maintain, repair and replace, and provide snow removal with respect to, the Penn Road Extension, such maintenance, repair, replacement and snow removal to be conducted in accordance with Grantee's standard operating procedures and as ordinarily scheduled as part of the overall system of public streets, roadways and thoroughfares for which Grantee is responsible. Notwithstanding the grant and acceptance contained herein, Grantee shall have no liability nor obligation whatsoever with respect to any occurrence, circumstances or set of facts arising in connection with or with respect to the Penn Road Extension occurring or existing prior to the date of this Grant. Grantor makes no representation or warranty with respect to the condition of the Penn Road Extension, including without limitation, the physical or structural condition thereof, and Grantee hereby accepts the Penn Road Extension in its "AS IS" condition. 4. Successors and Assigns. This Grant shall be binding upon Grantor, Grantee and their respective successors and assigns. 5. Governing Law. This Grant shall be interpreted in accordance with and governed by the applicable laws, statutes, codes, regulations, ordinances and decisions of the State of Indiana. 6. Severability. If a term or provision of this Grant shall later be found to be unenforceable or invalid, such unenforceability or invalidity shall not affect the other terms and provisions of this Grant. 7. Entire Agreement. This Grant represents the entire agreement between the parties as to the subject matter hereof. 8. Counterparts. This Grant may be executed in one or more counterparts, each of which shall be deemed to be an original, and all of which shall be deemed to be one and the same instrument. Any counterpart of this Grant which contains the original signatures of all of the signatories listed below, although such signatures may be on separate pages, shall be deemed an original and fully enforceable for all purposes. IN WITNESS WHEREOF, Grantor and of the date that the last of the signatories hereto MERIDIAN MILE ASSOCIATES, an Indiana limited partnership By Its General Partner REI Real Estate Partnership, L.P. By: Date: Michael W. Wells, President of REI Investments, Inc., General Partner "GRANTOR" Grantee have executed this Grant of Right -of -Way effective as executes this Grant as indicated hereinbelow. CITY OF CARMEL, INDIANA, by and through its Board of Public Works and Safety By: t iames Brainard, Presiding Officer Date: By: Mary Ann Burke, Member Date: Bye i(4 ?n/ i /4_ Billy I alker, Member Date: 05 /7. 2 7 t ATTEST 3 Diana L. Cordray, IAMC Clerk-Treasurer Date: l9 "GRANTEE" STATE OF INDIANA COUNTY OF hits ro4 SS: Before me, a Notary Public in and for said County and State, personally appeared Michael W. Wells as the President of REI Investments, Inc., the general partner of REI Real Estate Partnership, L.P., the general partner of Meridian Mile Associates, a limited partnership, who acknowledged the execution of the foregoing Grant of Right -of -Way. WITNESS my hand and Notarial Seal this day of 66 !t(•/2 2000. My Commission Expires: /0 Z l 0 My County of Residence: F� P m STATE OF INDIANA COUNTY OF M)'%/1/ Before me, a Notary Public in and for said County and State, personally appeared James Brainard, as the Presiding Officer for the City of Carmel, Indiana Board of Public Works and Safety, who acknowledged the execution of the foregoing Grant of Right -of -Way. WITNESS my hand and Notarial Seal this /2f`' day of Y/eV> 2000. My Commission Expires: C6 eq My County of Residence: f/& STATE OF INDIANA COUNTY OF My Commission Expires: My County of Residence: SS: SS: kA7 q/-C_C4 S', 1,tJA, SFI Printed O Ll f2. /Ji E. L3 ,2cc E Before me, a Notary Public in and for said County and State, personally appeared Mary Ann Burke, who acknowledged the execution of the foregoing Grant of Right -of -Way. WITNESS my hand and Notarial Seal this day of 2000. 4 Notary Public Notary Public a Printed Notary Public Printed STATE OF INDIANA SS: COUNTY OF 7 1- 49z' Before me, a Notary Public in and for said County and State, personally appeared Billy Walker, who acknowledged the execution of the foregoing Grant of Right -of -Way. Way. 02504drr 02/10/00 WITNESS my hand and Notarial Seal this day of )['-tom 2000. My Commission Expires: U8 C -or/ My County of Residence: (.Y Notary Public Printed WITNESS my hand and Notarial Seal this day of W 7,7 2000. My Commission Expires: U -c3 _©Y/ My County of Residence: `P(lTht. C 7X/t%ee, 5 Notary Public C__=2UE Printed STATE OF INDIANA SS: COUNTY OF P(?ii x i tcoc-- Before me, a Notary Public in and for said County and State, personally appeared L. CGRVdrgy who acknowledged his /her execution as an attesting witness of the foregoing Grant of Right -of- This instrument was prepared by, and should be returned following recording to, Robert A. Hicks, Attorney at Law, Hall, Render, Killian, Heath Lyman, P.S.C, Suite 2000, One American Square, Box 82008, Indianapolis, Indiana 46282. EXHIBIT A LEGAL DESCRIPTION PENN ROAD EXTENSION Part of the Northeast Quarter of Section 2, Township 17 North, Range 3 East in Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest corner of the said Quarter Section; thence North 88°36'14" East (assumed bearing) along the North line of the said Quarter Section 94.82 feet to the Southeast corner of the Southwest Quarter of Section 35, Township 18 North, Range 3 East; thence North 88 °50'32" East along the said North line, 26.63 feet; thence South 00 °22'08" West, parallel with the West line of the said Quarter Section 16.50 feet to the existing South right -of -way line for 116 Street and the Beginning Point (said Beginning Point being on the East line of a 1.20 acre tract of land set out in Warranty Deed recorded in Deed Record Book 133, page 403 in the Office of the Recorder of Hamilton County, Indiana); thence South 00 °22'08" West along the East line of said 1.20 acre tract of land 37.41 feet; thence North 38 °54'12" East 19.72 feet; thence North 84 °54'12" East 87.81 feet to the West line of a 0.73 acre tract of land set out in Warranty Deed recorded in Deed Record Book 166, page 311 in the Office of the Recorder of Hamilton County, Indiana; thence North 00 °22'08" East along the said West line 16.50 feet to the existing South right -of -way line of 116`" Street; thence South 88 °50'32" West along the said South right -of -way line 100.00 feet to the Beginning Point, containing 0.048 acres, more or less; Part of the Northeast Quarter of Section 2, Township 17 North, Range 3 East in Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest corner of the said Quarter Section; thence South 00 °22'08" West (assumed bearing) along the West line of the said Quarter Section 429.15 feet; thence North 88°36'14" East, parallel with the North line of the said Quarter Section 94.82 feet to the Beginning Point; thence South 00 °22'08" West, parallel with the said West line 898.55 feet to the South line of the North half of the said Quarter Section; thence North 88 °55'28" East along the said South line 25.01 feet; thence North 00 °22'08" East, parallel with the said West line, 898.69 feet; thence South 88 °36'14" West, parallel with the said North line, 25.00 feet to the Beginning Point, containing 0.516 acres, more or less. Also: and additionally Part of the Northeast Quarter of Section 2, Township 17 North, Range 3 East in Hamilton County, Indiana, being more particularly described as follows: Commencing at the Northwest corner of the said Quarter Section; thence North 88"36'14" East (assumed bearing) along the North line of the said Quarter Section 94.82 feet to the Southeast corner of the Southwest Quarter of Section 35, Township 18 North, Range 3 East; thence South 00 "22'08" West, parallel with the West line of the said Northeast Quarter Section 16.50 feet to the existing South right -of -way line of 116 Street and the Beginning Point; thence South 00 °22'08" West, parallel with the said West line 412.65 feet; thence North 88"36'14" East, parallel with the North line of the said Quarter Section, 25.01 feet; thence North 00 "22'08" East, parallel with the said West line 373.22 feet; thence North 39 °54'12" East 2.55 feet to the East line of a 1.20 acre tract of land set out in Warranty Deed recorded in Deed Record Book 133, page 403 in the Office of the Recorder of Hamilton County, Indiana; thence North 00 °22'08" East along the said East line 37.41 feet to the existing South right -of -way line of 116` Street; thence South 88 °50'32" West along the said South right -of -way line 26.63 feet to the Beginning Point, containing 0.238 acres, more or less. Also: Part of the Northeast Quarter of Section 2, Township 17 North, Range 3 East in Hamilton County, Indiana being more particularly described as follows: Beginning on the West line of the said Quarter Section South 00 °22'08" West (assumed bearing) 16.50 feet from the Northwest corner of the said Quarter Section, (said point being on the existing South right -of -way line for 116`'' Street); thence South 00 °22'08" West along the said West line 23.52 feet; thence North 88 °36'14" East, parallel with the North line of the said Quarter Section 55.00 feet; thence South 46 °23'46" East 20.32 feet; thence South 00 °22'08" West parallel with the said West line 1273.17 feet to the South line of the North half of the said Northeast Quarter Section; thence North 88 °55'28" East along the said South line 25.01 feet; thence North 00 °22'08" East, parallel with the said West line 1311.20 feet to the said South right -of -way line; thence South 88 °36'14" West along said South right -of -way line 94.82 feet to the Beginning Point, containing 0.792 acres, more or less. 2