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Sale of Carnegie Library Bldg - 40 East Main StreetAPPRAISAL REPORT FOR CITY OF CARMEL Type of Property: Urban Residential (Business Use) Location: 40 East Main Street, Carmel, Indiana. Carnegie Library building, formerly used as Carmel City Hall Owner: City of Carmel Tenant: N/A Legal Description: Part of the Northwest Quarter of Section 30, Township 18 North, Range 4 East, known as Lot 24 Known as Lot 34 in that part of Carmel sold by Levi Haynes, Sr. Purpose of Appraisal: The purpose of this appraisal is to estimate the fair market value of the subject property, the fair market value of the part taken as permanent land, building improvements; the cost -to -cure items of physical damage to the residual, if any; and the amount of compensation for use of temporary or provisional right -of -way. The interest appraised is Fee Simple Estate unless otherwise stated. I hereby certify that I have inspected the real estate appraised and I have also reviewed and made inspections of the comparable sales relied upon in making said appraisal. The subject of comparable sales relied upon in making the data was reviewed by me. That to the best of my knowledge and belief, the statements contained are true and the information upon which the opinion expressed herein are correct subject to limited conditions set forth herein. That my opinion of fair market value for the property and improvements, as of the 26th day of August, 1994, which is the effective date, is $68,000.00. Date: August 26, 1994 1. Description of Improvements: Solid brick office building built approximately in 1914, 4200 square feet, building including first floor, main floor, finished basement. City utilities available. Parking confirmed by the Department of Community Development of 10 cars. Main floor, central air, lavatory. Condition - fair. Finished basement area, office area, gas furnace, hot water. Condition - fair 2. Highest and Best Use: The reasonable legal use of the vacant land which is physically possible, appropriate, supported, financially feasible on that results in the highest use. Taken into consideration were the physical characteristics of the land and it was determined by the Department of Community Development that the real estate is zoned B -1 Business District. It appears that the highest and best use would be to remodel or update the building to make it comparable to other similar type office buildings in the area. There does appear to be a need for office space in Carmel and that would indicate to be the highest and best use of the property. I have reviewed information supplied to me by Meid Compton based upon his cost approach calculations, as well as his income approach calculations for the property and I concur with that data. 3. I have reviewed the zoned district information and I have enclosed that in my review as well as the Hamilton County Assessor's information card which I have enclosed and it has become part of my appraisal. 4. Attached resume' • Dec. 21 '94 11:09 0000 RCORN GROUP TEL 317- 231 -1016 P. 2 Ms. Snyder has been in the real estate business for ten years, first as a residential broker and for the last five years, as a commercial broker specializing in medical buildings. Before coming to the Acorn Group, she worked at the Graves Commercial Group where she was named the Commercial Broker of the Year in 1989. She was involved as broker in the largest independent office sale in the suburban market. As senior office specialist, she works with owners, developers and users of office space and development land. Ms. Snyder is currently completing the work necessary to receive the CCIM professional designation. She is a graduate of Mundelein College and Butler University with an AB in Psychology, an MA in history and an MS in Psychology. Before Ms. Snyder became involved in real estate, she was a teacher and administrator in the Illinois public and private school systems. For the past five years, Ms. Snyder was a member of the Board of the Carmel Clay Chamber of Commerce. She is active politically as a member of the Hamilton County Solid Waste Management Board and was recently elected as President of the Carmel City Council. She is currently a member of the Hamilton County Economic Development Commi sionand a board member of the Hamilton County Alliance. Both positions entail contacts with local and state businesses. MEID COMPTON 846 -0861 MEID COMPTON REALTY CO. 2015 BROAD RIPPLE AVENUE INDIANAPOLIS, INDIANA 46220 REALTOR' 253 -3467 15 June 1993 JOHN M COMPTON 545 -7266 APPRAISAL REPORT PROPERTY APPRAISED: 40 East Main Street, Carmel,Ind. Old Library Building used as Carmel City Hall. DATE OF APPRAISAL: 15 June 1993 LEGAL: Part of the NW Qt of Sec 30,T18N,R4E, known as Lot 34 in that part of Carmel sold by Levi A Haines,Sr., except that part of said lot used by said Town of Carmel for street purposes, being 61ft x 132 ft more or less herein. OWNERSHIP: Town of Carmel. PURPOSE OF APPRAISAL: Market Value DEFINITION OF MARKET VALUE: In terms of cash, the price a willing and informed seller would accept and an amount an equally willing, informed and able purchaser would offer. See attached definition of market value for full details. LOT SIZE: Corner lot, 58' x 132'. ESTIMATED MARKET VALUE, as of 15 June 1993: $34,800.LAND 700.IMPROVEMENTS $67, 500. TOTAL 1Z ' / MELD COMPTON s MAI CG69200851 MEID COMPTON 846 -0861 MEID COMPTON REALTY CO. 2015 BROAD RIPPLE AVENUE INDIANAPOLIS, INDIANA 46220 REALTOR' 253 -3467 JOHN M COMPTON 545 -7266 - .DESCRIPTION OF IMPROVEMENTS: Solid brick office building (originally Carmel Library), blt approximately 1914 (verified by Martha Nutt) . 4, 200. sq ft building including the first floor (main floor) and finished basement. Asph shg roof, alum painted gutters and downspouts, wood double hung windows, alum storm windows, two exterior doors (both wood), concrete foundation, asphalt parking for ten cars. Curbs and sidewalks on two sides, city water, gas and city sewer plus storm sewer. Main floor has eight rooms, panel walls, acoustic ceiling, Kemtile and poor carpet, one lavatory, central air (Bryant) for main floor only. 14 steps from sidewalk to front door. General condition fair. Disappearing stairway to floored attic. Finished basement area, four offices plus center entrance area, gas fired Marshall furnace with central air plus American Radiator hog water system in bsmt for upper level, 200 amp electrical serge, two restrooms (each with stool and lavatory), drop ceiling, paneled walls, carpet. General condition fair to good. MELD COMPTON 846 -0861 MEID COMPTON REALTY CO. 2015 BROAD RIPPLE AVENUE INDIANAPOLIS, INDIANA 46220 REALTOR" 253 -3467 JOHN M COMPTON 545 -7266 HIGHEST AND BEST USE: Definition of Highest and Best use: The reasonable probable and legal use of vacant land or an improved property, which is physically possible, appropriately supported, financially feasible, and that results in the highest use. Page 275 THE APPRAISAL OF REAL, ESTATE, Ten Edition, Appraisal Institute. Considered was the physical characteristics of the land such as size, shape, location, and topography. In addition, the analysis has included the surrounding developments, existing zoning, access to major transportation routes, availability of utilities, current trends, and demand for property of this type in the real estate market. Enclosed is the zoning for the subject B-1 Business District, it appears the highest and best future use would be to remodel or update the building so it would be in competition with other like type office buildings. A need for office space in Carmel would indicate this building and location would be the highest and best use. Ordered by the City of Carmel,Ind. MEID COMPTON REALTY CO. 2015 8po*o Rl►►lf Avflut INDIANAPOLIS, INDIANA 46220 MEID COMPTON 846.0861 253 3467 COST APPROACH: Marshall and Swift Valuation Service: OCCUPANCY: BUILDING CLASS AND QUALITY: EXTERIOR WALL: NO. OF STORIES & HEIGHT PER STORY; AVERAGE FLOOR AREA: AVERAGE PERIMETER: AGE AND CONDITION: $67.98 BASE SQUARE FOOT COST. $basic HEATING, COOLING. $basic MISCELLANEOUS. $67.98 ADJUSTED COST PER SQUARE FOOT HEIGHT AND SIZE REFINEMENT: 1.000 NUMBER OF STORIES. 1.000 HEIGHT PER STORY- MULTIPLIER. 1.000 FLOOR AREA - PERIMETER MULTIPLIER.• 1.000 COMBINED HEIGHT AND SIZE MULTIPLIER. FINAL CALCULATIONS: REFINED SQUARE FOOT COST. ($67.98 x 1. $ 67.98 CURRENT COST MULTIPLIER. 1.03 LOCAL MULTIPLIER. $67.98 x 1.03 x 1.03 = 1.03 $ 72_12 FINAL SQ. FT. COST x 4,200. SQ. FT. $ 302,904. LESS: DEPRECIATION (section 97) ...90% - $272,614. ESTIMATED DEPRECIATED VALUE OF IMPROVEMENTS $ 30.290 40 East Main St., Carmel,Ind. Office Building Class-'0, Average Brick veneer JOHN M COMPTON 25 7.9738 Two stor , 12r per story O.sq 180 . E/ F 75 yrs old,rair Section: 15 Page: 19 Estimated Land Value 58' frontage x $600.per front $ 34,800. Estimated Land Improvements $ 1,000. INDICATED VALUE BY THE COST APPROACH: $ 66,090. ROUNDED: $ 66,000. MEID COMPTON 846 -0861 MEID COMPTON REALTY CO. 2015 BROAD RIPPLE AVENUE INDIANAPOLIS, INDIANA 46220 REALTOR" 253 -3467 INCOME APPROACH: Estimated Rental Schedule: 4,200. sq ft x $5.90 per sq ft ($1,750. per month) Less: 7% vacancy and rentloss j21,000. $- 1,470. Estimated Annual Effective Income - - -- $19,530. Less: Est Annual Expenses $2,118. Property Taxes $1,500. Insurance, fire,EC & liab $1,953. Upkeep 10% $ 977. Management 5% $ 391. Misc 2% JOHN M COMPTON 545 -7266 $6,939. ESTIMATED TOTAL EXPENSES: $- 6,939. ESTIMATED ANNUAL NET INCOME $12,591. 59.95% Less: Tand Earns: $34,800. Est Land value by comparison x 9% return $ 3,132. ESTIMATED NET INCOME IMPUTABLE TO THE $ 9,459. IMPROVEMENTS. 9% Return on the Improvements 4% Return of the Improvements 13% COMPOSITE RATE $9,459. Est Net Income Imputable to the Improvements DIVIDED by the 13% Composite rate Plus: Estimated Tand Value by comparison _ $72,762. - $34,800. INDICATED VALUE OF THE IPMIPROVEMENTS READY TO RETT$107, 562 . Less: Expense to make the property earn $5.per SF;4404000. INDICATED VALUE BY THE INCOME APPROACH "AS IS $ 67,562. ROUNDED: $ 67,500. MEID COMPTON REALTY CO. 2015 BROAD RIPPLE AVENUE INDIANAPOLIS, INDIANA 46220 MEID COMPTON 846 -0861 SALES COMPARISON APPROACH: REALTOR" 253 -3467 JOHN M COMPTON 545 -7266 1. 41 E. Main Street, Carmel, SOLT) $122,750. 11 May 1992, cash. 2 story frame residence converted into office building, 57 x 132 lot size, corner lot, 2,200. sq ft building, zoned B -3, 2 car det garage, updated interior, across the street from the subject. Not as well built as the subject but will command a higher rent because of the general condition. $122,750. Sale price divided by 2,200. sq ft building =455.76 per sq ft land and improve__ -(_ ments. GREATER VALUE THAN THE SUBJECT. 2. 41 S. Rangeline Rd Carmel, Ind. SOLD 480,000. July 1992, cash. Eight rooms(1 bath), frame 12 story, corner lot 66'x165, barn type garage, needed updating, 2368. sq ft with partial bsmt, could be used as residence or business (office). $80,000. sale price divided by 2,368. sq ft building = $33.78 per sq ft land and improvements. Equal exposure and traffic count as the subject. Purchaser spent approx $76,000. updating property for home for Elder People.GREATER VALUE THAN THE TSUBJECT BECAUSE THE PURCHASER KNEW WHAT HAD TO BE DONE TO PREPco 1cHE PROPERTY. In the case of the subject some enviromental problem_' cause a great expense and there- fore stop some buyers from purchasing. 3. 231 First Ave SW, Carmel, SOLT) 171,000. 26 Sept 1989. cash. 1,500. sq ft office building, zoned B -1, 70x135 lot size, adv as in excellent condition, brick exterior, 34 yrs old, $71,000. sale price divided by 1500. sq ft = $47.33 per sq ft land and improvements. Doesn'thave the street exposure or traffic count of the subject but newer building in better condition. Ready to move into immediately. INDICATED VALUE BY THE SATES COMPARISON APPROACH: $65,000. MEID COMPTON 846 -0861 MEID COMPTON REALTY CO. 2015 BROAD RIPPLE AVENUE INDIANAPOLIS, INDIANA 46220 REALTOR" 253 -3467 JOHN M COMPTON 545 -7266 Three approaches to value were used in estimating the market value of the subject property. The three approaches to value have produced the following indications of market value for the subject. COST APPROACH $66,000. INCOME APPROACH $67,500. SALES COMPARISON APPROACH$ $65,000. The COST APPROACH could be considered an appropriate method of valuation due to the property being improved to the highest and best use. But the improvements suffer greatly from substantial depreciation. The building costs for the improvements are based on MARSHALL VALUATION COST BOOK a reliable cost data. Adequate land sales are available in our our files to estimate the land value. The COST APPROACH has been given limited emphasis with the other approaches. The COST APPROACH would be given less consideration than the economics due to the income characteristics of the subject office building. The INCOME APPROACH was considered vital due to the income producing characteristics of the subject property. Justification for market rents, operating expenses, average vacancies, and the return on and return of the improvements are adequaaately selected from information taken from our files. The economics were given more emphasis than the other approaches. An income property such as the subject office building is typically bought and sold by investors based on the anticipation of future income. The sales comparison approach has secondary influence. Comparable sales for the subject were located near the subject and had like type use but were not similar in construction and did require extensive adjustments. The market data help to bracket a value and establish a market oriented value. The reconciled value of the subject property was based on the most emphasis given to the income approach, with adequate support from the other approaches. Based on the current market conditions as of 15 June 1993, the subject property's market value of the fee simple estate was $67,500. --)1(4d, M] ID COMPTON, I1AI 0G69200851 • OWNERSHIP LT+,RA ?`Y CARMEL CLAY PUbLIC 515 E MAIN STREET CARMtL TN 46032— AA LEGAL ACRES 10- 30- 09 -05- 020.000 186 -763 -765 r£t' X 132 n; .(' ._ 'I PROPERTY ADDRESS 1 Ci TAX DISTRICT 10-30-0?-05-02_0.000 PARCEL NUMBER 01/01 CARD UF CARD 640 USE CODE PARCEL TIEBACK TYPE TRANSFER OF OWNERSHIP OATE NOTE NOTE MEMORANDUM () F S— L a N R S— L 5,000 RES —T NRS —T 116,370 VALUATION RECORD ASSESSMENT YEAR 1989 19 19 _ 19 19 _ 19 19 _ DATE NOTICE MAILED REASON FOR CHANGE REVALUATION TRUE TAX VALUE ASSESSED VALUE LAND IMPV TOTAL 17 400 55, , 100 72.,500 LAND IMPV 1 i1. '17 0 TOTAL 7 ,, 170 TOPOGRAPHY 1 PUBLIC UTILITIES `i STREET OR ROAD 1 NEIGHBORHOOD 2 LAND DATA AND COMPUTATIONS LOT TYPE ACTUAL FRONTAGE EFFECT. FRONTAGE EFFECT, DEPTH DEPTH FACTOR BASE RATE ADJUSTED RATE EXTENDED VALUE INFLUENCE FACTOR TRUE TAX VALUE PROPERTY CLASS CODES 5__ RESIDENTIAL 0 Vacant Land 1 One•Family Dwelling 2 Two-Family Dwelling 3 Three - Family DwIg. 4 . House Trailer (Real) 5 Condominium Unit 0 Platted Lot 1 Unplatted 0-9.99 ac. 2 Unplatted 10.19.99 ac. 3 Unplatted 20-29.99 ac. 4 Unplatted 30-39.99 an. 5 Unplatted 404. ac. 599 Other Res. Structures AGRICULTURAL 100 Vacant Land 101 Cash Grain /Gen. Farm 102 Livestock Other Than Dairy or Poultry 103 Dairy Farms 104 Poultry Farms 105 Fruit and Nut Farms 106 Vegetable Farms 107 Tobacco Farms 108 Nurseries 109 Greenhouse 120 Timber 199 Other Agricultural Use 100 MINERAL 7 — GOV'T OWNED .1 13? 1.00 300 390. 00 17490 17400 SO. FT. SQ. FT, LAND TYPES 1 Primary C/I Site F Farm Bldgs 2 Second. C/I Site W Farm Water 3 Undeveloped 8 Agr, Support 4 Tillable 9 Homesite 5 Non - Tillable D Legal Drain 6 Woodland P Public Road 7 Other Farmland LAND TYPE SOIL 10 MEASURED ACREAGE PROD. FACTOR BASE RATE ADJUSTED RATE EXTENDED VALUE INFLUENCE FACTOR % INFLUENCE CODES 1 Topography 5 Misimprove. 2 Under. ment Improvement 6 Restrictions 3 Eaten Frontage 0 Other 4 Shape or Site SITE VALUE MEASURED ACREAGE TRUE TAX VALUE 17,400 PARCEL ACREAGE 0 LEGAL DRAIN P PUBLIC ROAD 9 HOMESITE TOTAL ACREAGE FARMLAND TRUE TAX VALUE MEASURED ACREAGE AVERAGE TRUE TAX VALUE /ACRE TRUE TAX VALUE OF FARMLAND HOMESITE (S) TOTAL TRUE TAX LAND VALUE 17,4 icy of C rmel NOTICE SPECIAL MEETING AGENDA BOARD OF PUBLIC WORKS AND SAFETY 6:00 P.M. SEPTEMBER 12, 1994 COUNCIL CHAMBERS /ONE CIVIC SQUARE The Mayor of the City of Carmel has called a special meeting of the Board of Public Works and Safety for Monday, September 12, 1994, 6:00 p.m. in the Council Chambers of City Hall, One Civic Square. MEETING CALLED TO ORDER PURPOSE OF MEETING 1. Special Hearing to determine the appropriateness of disposal of property known as 40 East Main Street, Carmel, Indiana, and 11 -15 First Avenue NE, Carmel, Indiana. ADJOURNMENT This notice was prepared and distributed by the Mayor's Office, City of Carmel, September 6, 1994. ONE CIVIC SQUARE CARMEL, INDIANA 46032 317/571.2400 GORDON D. BYERS ATTORNEY AT Lew 138 S. OM STREET SUITE 31a No DIX sv-xuals, INDIANA 46060 TELEPHONE (317) 773 -3E21 April 3, 1995 Christine Crull Altman CAMPBELL KYLE PROFFITT 650 E. Carmel Drive, Suite 400 Carmel, IN 46032 Dear Chris: I have left voice messages for your husband but I thought it was my obligation to forward this letter to you. In speaking with Mr. Kaiser, as it relates to the survey, we are prepared to transfer the deed gap area to you by warranty deed. This complies with our advertisement. The title company, Stewart Title, is prepared to insure that issue and remove it based upon the minimum standards survey that has been provided to him. In addition, we are prepared to verify the actual number of parking spaces on site, so those are not decreased. Also, the city has contacted Mr. Kaiser through his son and they have indicated that they have no desire to enter into a written agreement with the city but are more than willing to negotiate with Stamp- Altman concerning maintenance easements that will allow you to make repairs to the structure. They even pointed out that they were happy to have the structure owned by you and improved due to the fact it will do nothing but improve the real estate. Therefore, we are prepared to close and Mr. Kaiser will be available on April 14, 1995. If you desire not to close, please advise us and we will attempt to return your deposit and resell the property. In review, all of the issues of title, we feel, have been resolved satisfactory and the title company is willing to insure over any issues and we are prepared to transfer the parcel as depicted on the survey obtained by you and requested by you from Benchmark Surveying as well as confirmed by Weihe Engineering. +n 1 i-�1 TT rl 1 I Tr, .not ttrt t n1 r". n1 v.r Christine Crull Altman April 4, 1995 Page 2 If you have any questions, please feel free to contact me. If not, I will await your call on whether or not you desire to close on the real estate. GDB /kd cc: Ted Johnson, Mayor Board of Public Works & Safety rni L 1 1, l 1 1 I T n • 1 e•• • J Sicerely, (J\ L_,_ Gordon D. Byers NOTICE FOR SALE OP REAL PROPERTY Notice is hereby given that the Carmel Board of Public works & Safety will hold an auction sale on the 21st day of September, 1994, at 4 :30 p.m. on the second floor, City Council Chambers located at One Civic Square, Carmel, Indiana 46032. At the sale, the Carmel Board of Public Works & Safety will sell the real property which is legally described as follows: Part of the North West quarter of Section 30, Township 18 North, Range 4 East, known as Lot 34 in that part of Carmel sold by Levi A. Haines, Sr., except that part of said lot used by said Town of Carmel for street purposes, being 61 feat x 132 feet more or less herein conveyed. The real estate is commonly known as 40 East Main Street, Carmel Indiana. 1. Any person may submit written bids to the Office of the Carmel Clerk- Treasurer prior to the beginning of the sale. 2. Written bids shall be opened at the beginning of the sale and all persons, including the original bidders, may raise their bids from time to time during the course of the sale. 3. The sale may be continued from day to day. 4. The Carmel Board of Public Works & Safety of Hamilton County has obtained, pursuant to Indiana Code, an appraisal of said property. No written bids will be received for less than Sixty Thousand Seven Hundred Fifty Dollars ($60,750.00). 5. The sale of the property shall be contingent upon approval by the Carmel City Council and the Carmel Board of Public Works and Safety which shall make a determination of the highest responsible and responsive bid is acceptable; the successful bidder agrees to present a viable plan for use of the property. ZO 'd bLZE ELL LIE ON Xd1 .23),13-4aciN@O - - nu 6. The Carmel City Council will adopt an ordinance approving the sale. 7. The purchase price shall be as follows: a. Upon award of the contract by the Carmel Board of Public Works & Safety, tan percent (10$) of purchase price payable in cash or certified funds to the Clerk - Treasurer of City of Carmel; and b. The balance of purchase price shall be paid within thirty (30) days after the approval of sale by the Carmel City Council. 8. The Carmel Board of Public Works & Safety of Hamilton County shall convey the property by a General Warranty Deed. 9.. The Carmel Board of Public Works & Safety of Hamilton County shall remove any lien upon the real property which may be disclosed in a Title Insurance binder obtained by the successful bidder prior to closing. 10. Copies of the appraisal of the real property, obtained by the Carmel Board of Public Works & Safety of Hamilton County, is available for inspection in the Office of the Mayor of Carmel, Indiana. 11. The Carmel Board of Public Works, as disposing agent, reserves the right to reject all bids under Indiana Statute. 12. The Carmel Board of Public Works & Safety is selling the real estate As Is and makes no representations with respect to the condition of any improvements located upon the real estate. 13. Persons desiring to inspect the property should contact Phyllis Morrissey at 571 -2402. £O 'd CARMEL BOARD OF PUBLIC WORKS & SAFETY I7LZE ELL LIE '0N XdJ MAO N0a?100 EO:IU a3M b6- Li -Sfld OLD TOWN HALL c Gross Sq. Footage: 4200 UPPER FLOOR PLAN COMMONWEALTH 4 1 A. Inspection Summary 1 Built: 1913 OLD TOWN HALL Roof: Slate - Fair Condition Heating: Boiler- Steam /Gas- Forced 1 - Very Poor Condition - Has Asbestos Insulation - Needs Replaced 1 - Air Conditioning: 1 - Forced Air 11 - Window Unit Poor Condition Electrical: Poor Condition - Needs Replaced Gross Square Footage: 4200 S.F. Construction: Brick and Structural Tile Insulation: Cellulose in Attic - Insufficient Chimney and Fireplace: Needs Relined and Pointed 1 Restroom: 2 - in basement Exterior Brick: Corners Breaking at Ground Level where Exposed Special Note:On Indiana Historic Register - Cannot Modify without State Concurrence B. General Comments The structure itself is extremely sound. The interior walls, mechanical systems 1 and electrical systems are poor to very poor and need replacement. Replacement of the heating system will require the removal and disposal of asbestos insulation on the old boiler and part of the hot water piping. Deed records for the property are not clear and may require legal action to establish clear title if sale is considered. Modifications for alternative use will be impacted by the structure being listed on the Indiana Historic Register. In its current condition, no alternative use is recommended by the City or any other unit of government. Replacement building value is estimated at $125,000. L MEID COMPTON 846 -0861 MEID COMPTON REALTY CO. 2015 BROAD RIPPLE AVENUE INDIANAPOLIS, INDIANA 46220 REALTOR" 253 -3467 APPRAISAL BILL 15 June 1993 JOHN M COMPTON 40 Last Main Street, Car[uel,Ind (Old City Hall Building) ONE HUNDRED DOLLARS xx ($100.) M ID COMPTON 545 -7266 M E M O DATE: September 21, 1994 TO: Mayor Ted FROM: Alan Potasnik SUBJECT: Old City Hall Sale CC: I hope that you, as I and others (Jim Garretson and Fred Swift) feel that it isn't so much that we are going to sell the old city hall as what if some one buys it and decides to demolish it? We have then lost another landmark in Carmel and we have too few. I was speaking with John Carr with the State Historic Preservation Office. He suggested that as -a term of the sale, the city could attach a covenant to the deed committing the buyer to maintain the integrity of the building's critical aspects as it now stands. A restrictive covenant would, it seems, commit a buyer to keeping the building a focal point of old and new Carmel. I guess I'm pretty beaten down or resolved to the fact that the building is going to be privatized. I would like to see a restrictive covenant be a part of the sale and I don't think this would be unreasonable or difficult for Gordon to do so that it does not get turned into a parking lot. I don't have this feeling about the other two structures. This covenant shouldn't deter a prospective buyer. If you or Gordon would like to talk to Mr. Carr, his number in 232 -1646. Thanks, Ted. STEWART TITLE SER\'ICES OF INDIANA. INC. .2 NORTH 9TH STREET NOBLESVILLE. INDIANA 46060 METRO BANK INDIANAPOLIS. IND. 46280-0451 20-16 7.10 CHECK NO. 05015629 05-00017629 Ninety two thousand nine hundred thirty four and 00/100 dollars PAY TO THE ORDER OF CITY OF CARMEL DATE 94051201 AMOUNT 07 / "sa. (1/VA5cco* 2 934.00 AUTHORIZED SIGNATURE "05 L 5 6 290 1:0 711000 LE) 21:00 56611,011, LO Si-EWA wrrITLE SERVICES OF INDIANA. INC. ESCROW AccouNT CHECK NO 05015629 07/07/95 **92,934.00 SELLER: City (J-F Carm(1.1 BUYER: Carmel LibrarA,Associate8, an ADDRESS: 40 Main Stree-t--e-armEN NET PROCEED DUE SELLER Filo : 94051201 05-00015629 $92,934.00 PAY STEWART TITLE . SERVICES.OF INDIANA, INC. 2 NORTH 9TH STREET " NOBLESVILLE, INDIANA 46060 MEMO BANK INDIANAPOLIS, IND. 46280 -0451 Five hundred thirty one and 00 /100 dollars TO THE ORDER OF ROBINSON & WOLENTY 9405/201 CHECK NO. 05-00015627 DATE AMOUNT 1)7/ 0E7s6IWa'000UN -S 31 .0 AUTHORIZED SIGNATURE 00 5 1 5 6 2 ?II' 1:0 71.1000 16 21:00 56 61110,11 LO 2i" ROBINSON & WOLENTY 8888 Keystone Crossing Suite 710 Indianapolis, In. 46240 BUSEY BANK 201 W. Main, P. 0. Box 489 Urbana, Illinois 61801 July 6, 1995 Hours Amount CARMEL LIBRARY 6/28/95 Legal Services 0.40 60.00 Review package and telephone conference Bill regarding same; Telephone conference Chris Altman regarding same. 6/29/95 Legal Services 0.90 135.00 Telephone conference Chris Altman regarding mortgage documents and telephone conference Bill regarding same. 7/5/95 Legal Services 1.50 240.00 Review proposed language changes; Revise mortgage document; Meet with Bill and review title and survey regarding deal; Correspond with borrower's attorney regarding same. 7/6/95 Legal Services 0.60 96.00 Telephone conference Altman and revise mortgage regarding same; Telephone conference Bill. For professional services rendered 3.40 $531.00 S'1`EWART TITLE ... SERVICES OF INDIANA, INC. 2 NORTH 9TH STREET NOI3LESVILLE, INDIANA 46060 iviL I II1., uhti . INDIANAPOLIS, IND. 46260 -0451 Nine hundred five and 00 /100 dollars PAY TO THE ORDER OF BENCHMARK DATE 2U -16 740 , _. Lb Uibb2b CHECK NO. 05- 00015626 AMOUNT 94051201. )7/ SekoAICCOUNT'0� 00 AUTHORIZED SIGNATURE 00 156 2611' 1:0 71-'000 16 21:005661110111 LO 211' A IP o BENCHMARK SURVEYING, INC. 6, ilk Donn M. Scotten, Registered Land Surveyor FYI1'Ao June 29, 1995 STAMP- ALTMAN ASSOCIATES. 712 E. 64TH STREET INDIANAPOLIS, INDIANA 46220 INVOICE RE: OLD CARMEL LIBRARY MAIN AND COLLEGE IN CARMEL, INDIANA WORK DESCRIPTION:. SURVEYING SERVICES IN PREPARATION OF. A' LAND -TITLESURVEY ON THE ABOVE REFERENCED PROPERTY THANK YOU! DONN M SCOTTEN,, L.S. 9421849 Total. Amount Due: $905.00. 8603 East 116th Street • Fishers, Indiana 4603£ • (3171 Rd1_1F(1R AFFIDAVIT OF MORTGAGOR STATE OF INDIANA COUNTY OF Hamilton ADDRESS: 40 Main Street Carmel, IN PURCHASE PRICE: $ 105,000.00 FILE NUMBER: 94051201 We have purchased the property known by the address shown above and described in Stewart Title Services of Indiana, Inc., Commitment, issued pursuant to the above number order, and have simultaneously hereto, executed a Note and Mortgage which Mortgage constitutes a lien against said property, hereafter referred to as the "Property ". andy- the- preperty We have no knowledge of any unpaid bills or claims for labor performed or material furnished for the construction, repair or alteration of improvements on the property. We have not executed or signed nor permitted anyone on our behalf to execute or sign any instruments (including but not limited to security agreements, financial statements, leases, contract or chattle mortgages) affecting title to the property or any chattle or fixture placed on or installed on the property. We are over eighteen (18) years of age, have never been declared mentally incompetent, nor adjudged bankrupt, and have never made an assignment for the benefit of creditors. There are no petitions now pending against us for bankruptcy, insolvency or incompetence and we have no knowledge of any pending suits or judgments in any court that would affect the property. We have paid in full the contract purchase price shown above for the property and we have no other unpaid obligations which were contracted for in connection with the purchase of the property or for the construction of improvements thereon. We have not and will not pay directly or indirectly any brokerage fee, commission, service charge or other closing costs except those permitted by the Federal Housing Administration or Veteran's Administration. The foregoing statements are true except for the following specific changes additions, or exceptions: NONE It is understood that where applicable herein, the plural form of any word shall be construed as singular. This affidavit and the representation herein are made to induce Stewart Title Services of Indiana, Inc., to issue its title insurance policy pursuant to the preliminary certificate described above, and to induce the mortgagee in the mortgage referred to above to loan money to be applied on the purchase price of the property. Carmel Library Associates, an Indiana General Partnership Subscribed and sworn to before me, a Notary Public 7th day of July , 19 My commission expires: 02/17/99 Signature • d for the said County and State, this Printed David G. Pence , Notary Public Residing in Hendricks County, Indiana This instrument prepared by: Andrew B. Buroker, Attorney at Law, Krieg Devault Alexander & Capehart. A. U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT B.TYPE OF LOAN See HUD attachment(s) for "'" items 1. I ]FHA 2. I )FMHA 3. IX]CONV. UNINS. 4. l ]VA 5. I ]CONY. INS. 6. FILE NUMBER: 94051201 7. LOAN NUMBER: 8. MTG. INS. CASE NO.: C• NOTE : This form is furnished to give you a statement of actual settlement costa. Amounts paid to and by the settlement agent are shown. Items marked ( "p.o.e. ") were paid outside the closing: they are shown here for information purposes and are not included in the totals. D. NAME OF BORROWER: Carmel Library Associates, an Indiana General Partnership ADDRESS: E. NAME OF SELLER: City of Carmel • • ADDRESS : SELLER TIN: F. NAME OF LENDER: Busey Bank ADDRESS: G. PROPERTY LOCATION: Lot NW, S30 T18 R4 40 Main Street, Carmel, IN H. SETTLEMENT AGENT: STEWART TITLE SERVICE OF IN ADDRESS: 2 NORTH 9TH STREET NOBLESVILLE, IN 46060 SETTLEMENT AGENT TIN: 35-1820645 PLACE OF SETTLEMENT: STEWART TITLE SERVICE OF IN ADDRESS: 2 NORTH 9TH STREET NOBLESVILLE, IN 46060 I.SETTLEMENT DATE Closing date: 07/07/95 Proration date: 07/07/95 J. SUMMARY OF BORROWER'S TRANSACTION R. SUMMARY OF SELLER'S TRANSACTION 100. GROSS AMOUNT DUE FROM BORROWER: 400. GROSS AMOUNT DUE TO SELLER: 101. Contract sales price 105,000.00 401. Contract sales price 105,000.00 102. Personal property 402. Personal property 103. Settlement charges to borrower(line 1400) 2,526.00 403. 104. 404. 105. 405. Adjustments for items paid by seller in advance: Adjustments for items paid for seller in advance: 106. City /town taxes to 406. City /town taxes to 107. County taxes to 407. County taxes to 108. Assessments to 408. Assessments to 109. 409. 110. 410. 111. 411. 112. 412. 120. GROSS AMOUNT DUE FROM BORROWER: 107,526.00 420. GROSS AMOUNT DUE TO SELLER: 105,000.00 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IN AMOUNT DUE TO SELLER: 201. Deposit or earnest money 10,500.00 501. Excess deposit(see instructions) 10,500.00 202. Principal amount of new loan(s) 94,500.00 502. Settlement charges to seller(line 1400) 1,566.00 203. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to 204. 504. Payoff of first mortgage loan 505. Payoff of second mortgage loan 205. 206. 506. 207. 507. 208. 508. 209. 509. Adjustments for items unpaid by seller: Adjustments for items unpaid by seller: 210. City /town taxes to 510. City /town taxes to 211. County taxes to 511. County taxes to 212. Assessments to 512. Assessments to 213. 513. 214. 514. 215. 515. 216. 516. 217. 517. 218. 518. 219. 519. 220. TOTAL PAID BY /FOR BORROWER: 105, 000.00 520. TOTAL REDUCTION IN AMOUNT: 12,066.00 300. CASH AT SETTLEMENT FROM/TO BORROWER: 600. CASH AT SETTLEMENT TO /FROM SELLER: 301. Gross amount due from borrower(line 120) 107,526.00 601. Gross amount due to selter(line 420) 105,000.00 302. Less amounts paid by /for borrower(line 220) 105,000.00 602. Less total reductions in amount due seller(line 520) 12,066.00 303. CASH IX FROM] I TOI BORROWER: 603. CASH IX TOl I FROM' SELLER: 92,934.00 2 526.00 SUBSTITUTE FORM 1099 SELLER STATEMENT The information contained in Blocks E,G,H and I and on line 401 (or, if line 401 is asterisked, lines 403 and 404) is important tax information and is being furnished to the Internal Revenue Service. If you are required to file a return, a negligence penalty or other sanction will be imposed on you if this item is required to be reported and the IRS determines that it has not been reported. SELLER INSTRUCTION -If this real estate was your principal residence, file Form 2119, Sale or Exchange of Principal Residence, for any gain, with your income tax return; for other transactions, complete the applicable parts of Form 4797, Form 6252 and /or Schedule D (Form 1040). You are required by law to provide Stewart Title Services of Indiana, Inc. with your correct taxpayer identification number. If you do not provide Stewart Title Services of Indiana, Inc. with your correct taxpayer identification number, you may be subject to civil or criminal penalties. Under penalties of perjury, I certify that the number shown on this statement is my correct taxpayer identification number. Seller File 94051201 attachments) for �' items L. SETTLEMENT CH1tp' PAID FROM BORROWER'S FUNDS AT SETTLEMENT PAID FROM SELLER'S FUNDS AT SETTLEMENT 700. TOTAL SALES /BROKER'S COMMISION Based on $ @ %= Division of Commission (line 700) as follows: 701. $ to 702. $ to 703. Commission paid at settlement - 704. 800. ITEMS PAYABLE IN CONNECTION WITH LOAN. 801. Loan Origination fee % 802. Loan Discount 803. Appraisal fee to 804. Credit Report to 805. Lender's ins • ection fee to 806. Mortgage Insurance application fee to 807. Assumption Fee to 808. to 809. to 810. to 811. Commitment fee to Buse Bank 1,500.00 812. to 900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE. 901. Interest from to OS /day 902. Mortgage insurance premium for mo. to 903. Hazard insurance premium for yrs. to 904. yrs. to 905. 1000. RESERVES DEPOSITED WITH LENDER 1001. Hazard Insurance mo. @$ per mo. 1002. Mortgage insurance mo.@$ per mo. 1003. City taxes mo.@S per mo. property 1004. County taxes mo. @$ per mo. property 1005. Annual assessments (Maint.) mo. @$ per mo. 1006. mo.CPS per mo. 1007. mo. @S per mo. 1008. mo.@$ per mo. 1100. TITLE CHARGES: 1101. Settlement or closing fee to STEWART TITLE SERVICE OF IN 250.00 1102. Abstract or title search to • 1103. Title examination to 1104. Title insurance binder to 1105. Document to preparation 1106. Notary fee to 1107. Attorney's fee to to Robinson & Wolentz 531.00 (includes above items No.: 1108. Title insurance to STEWART TITLE SERVICE OF IN 105.00 653.00 (includes above items No.: 1109. Lender's coverage 200,000.00 $ 105.00 1110. Owner's coverage 105,000.00 $ . 653.00 1111. to 1112.3.0 zoning endo to STEWART TITLE SERVICE OF IN 100.00 1113. to 1114. to 1200. GOVERNMENT RECORDING AND TRANSFER CHARGES 1201. Recording fees: Deed $ 10.00 Mrtg $ • 30.00 Rel. $ 40.00 1202. City /county tax/stamps: Deed $ Mrtg $ 1203. State tax/stamps: Deed $ Mrtg S 1204. Quitclaim to STEWART TITLE SERVICE OF IN 8.00 1205. to 1206. to 1300. ADDITIONAL SETTLEMENT CHARGES 1301. Survey to Benchmark 905.00 1302. Pest inspection to 1303. to 1304. to 1305. to 1400. TOTAL SETTLEMENT CHARGES (entered on lines 103, Section J and 502, Section K) .K".1 2,526.00 J • Y 1,566.00 CERTIFICATION: • ave care ully reviewed the HUD -1 Settlement Statement and to the best of my kn receipts a • • s • u ;• �* s • • e . count or by me in this transaction. 1 further certify that I hay ' GR.1 PA-1 Borrowers The HUD -I �jthe • ant Statement wh'�.�, of this t accordance i�r • is atatem$Irt�/r Sellers I have prepared is a true and accurate account o is transaction. • t -age a•• e ,r e '440 s -1 Settl •• t S .tement. kola i '4t1 4 _ : VA M' :61st ; ∎`tm nrALt �!v,`'., on. I have caused •t l !' se the funds to be sbu d in Settlement Agent Date WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine and imprisonment. For details see: Title 18: U.S. Code Section 1001 and Section 1010. QUITCLAIM DEED THIS INDENTURE WITNESSETH, That the City of Carmel ( "Grantor ") of Hamilton County in the State of Indiana, QUITCLAIMS to Carmel Library Associates, an Indiana General Partnership, of Hamilton County in the State of Indiana, for the sum of One Dollar ($1.00) and other valuable consideration, the receipt of which is hereby acknowledged, the following described real estate in Hamilton County, in the State of Indiana, to -wit: Part of the North West quarter of Section 30, Township 18 North, Range 4 East, known as Lot 34 in that part of Carmel sold by Levi A. Haines, Sr., except that part of said lot used by said City of Carmel for street purposes, being 61 feet x 132 feet more or less herein conveyed. ,,n 'IN WITNESS WHEREOF, he Gra for has e'xecu gneed, this (Q day of , 1995. GRANTOR Ted Jo •n STATE OF INDIANA ). ) SS: COUNTY OF HAMILTON ) Mayor of the City of Carmel Before me, a Notary Public in and for said County and State, personally appeared Ted Johnson, Mayor of the City of Carmel, who acknowledged the execution of the foregoing Quitclaim Deed, and who, having been duly sworn, stated that any representations therein contained are true. Witness my hand and Notarial Seal this (.o c- L__day of , 1995. My Commission Expires: r ? -` — 95 County of Residence: 1- t -rn', I 4- 1 This instrument was prepared by Gordon D. Byers, Attorney at Law, 136 South 9th Street, Suite 318, Noblesville, Indiana WARRANTY DEED THIS INDENTURE WITNESSETH, That the City of Carmel ( "Grantor ") of Hamilton County, in the State of Indiana, CONVEYS AND WARRANTS to Carmel Library Associates, an Indiana General Partnership, ( "Grantee ") of Hamilton County, in the State .of Indiana, for the sum of One Dollar ($1.00) and other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the following described real estate in Hamilton County, State of Indiana: Part of the Northwest Quarter of Section 30, Township 18, Range 4 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, being more particularly described as follows: Commencing at the Southwest corner of the Northwest Quarter of Section 30, Township 18 North, Range 4 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana; thence North 00 degrees 09 minutes 57 seconds East (assumed bearing) 33.00 feet on the West line of said Northwest Quarter; thence South 89 degrees 58 minutes 03 seconds East 285.00 feet parallel with the South line of said Northwest Quarter to the Southeast corner of the real estate described in Instrument #93- 53046 in the Office of the Recorder of Hamilton County, Indiana, said corner being the Point of Beginning of the tract herein described; thence North 00 degrees 09 minutes 57 seconds East 132.00 feet on the East line of the real estate described in said Instrument #93 -53046 to the Northeast corner thereof; thence South 89 degrees 58 minutes 03 seconds East 58.55 feet on the Easterly prolongation of the North line of the real estate described in said Instrument #93 -53046 to the West face of an existing 6 inch concrete curb; thence South 00 degrees 00 minutes 00 seconds West 132.00 feet on and along said curb to its intersection with the easterly prolongation of the South line of the real estate described in said Instrument #93- 53046; thence North 89 degrees 58 minutes 03 seconds West 58.93 feet on the Easterly prolongation of the real estate described in said Instrument #93 -53046 to the Point of Beginning. This conveyance of the above - described real estate is subject to the following exceptions, covenants, restrictions and servitudes, all of which shall run with the land and be binding upon and inure to the benefit of the heirs, representatives, successors in interest, and assigns of the parties hereto. Grantor's Right of Repurchase By accepting this deed, Grantee and those taking title to real estate commonly known as 40 East Main Street, Carmel, Indiana (the "Property ") through Grantee, agree that prior to demolishing and destroying the Building located on the Property at the time of this deed, Grantee shall first submit to Grantor a written offer to sell the Property to Grantor at Grantee's good faith estimate of the Property's fair market value (the "Offer "). Grantor shall have ten (10) days to in writing either (1) accept Grantee's Offer, (2) issue to Grantee a notice of intent to purchase the Property and to commence negotiating an acceptable purchase price, or (3) decline the Offer. In the event that Grantor declines the Offer or fails to respond to the Offer within said ten (10) days, Grantee and those claiming title through Grantee shall be released from this restriction and title to the Property shall be cleared by Grantee . recording a verified affidavit attaching thereto the Offer, Grantor's response to the Offer or Grantee's statement that Grantor failed to respond to the Offer. Determination of the Purchase Price In the event Grantor has submitted to Grantee its intent to purchase and has commenced negotiations, the parties shall either reach a written agreement as to the purchase price within fifteen (15) days of the Offer or within said fifteen (15) days of the Offer each shall have retained a qualified real estate appraiser with an MAI designation (or, a designation which is nationally accepted and recognized certifying the appraiser as qualified to appraise commercial real estate) who will provide a written appraisal of the Property's fair market value within forty (40) days of the Offer. Upon receipt of the appraisals, Grantor and Grantee shall each exchange appraisals. If the appraisals' determination of the fair market value are within ten (10) percent of the same value, the two appraisal values shall be averaged with the averaged value being the purchase price for the Property. If the appraisals' determination of fair market value of the Property vary more than ten (10) per cent, Grantor and Grantee's appraisers shall jointly select a third appraiser (qualified as above) to review the two appraisals and, within sixty (60) days of the Offer, determine the Property's fair market value within the ranges established by Grantor and Grantee's appraisers, which value shall be the purchase price for the Property. Closing Grantor shall close on the purchase of the Property the earlier ten (10) days of the establishment of the purchase price of the Property or seventy (70) days of the Offer. Grantor shall accept the Property "as is ". Transfer shall be made by written warranty deed. Withdrawal of Offer or Intent to Purchase and Appraisal Costs At any time prior to the parties reaching a voluntary acceptance of the purchase price, Grantee may withdraw its Offer to sell and /or Grantor may withdraw its notice of intent to purchase provided that the withdrawing party pays, within twenty (20) days, the reasonable out -of- pocket expenses incurred by the non - withdrawing party, including but no limited to, all reasonable appraisal costs. If the city withdraws its notice of intent to purchase, it shall operate as a release of these restrictions in the same manner as a written declination of the Offer. Unless grantee has withdrawn the Offer or Grantor has withdrawn its notice of intent to purchase, each party shall be responsible for its own out -of- pocket expenses and appraisal costs, as well as one -half of the appraisal costs of the third review appraiser, if any. Notices All notices directed to Grantor shall be directed to the executive officer of Grantor who shall be responsible for obtaining all necessary governmental approval of actions taken pursuant to Grantor's participation in this agreement within the time frames specified above. Notices shall be hand delivered and shall be effective upon delivery of the same. All notices shall bear the street address of Grantor /Grantee as the case may be for purposes of response. Time Is of the Essence All time notices set forth above shall be strictly construed and shall control unless both Grantor and Grantee have agreed to an extension or enlargement of time in writing prior to the expiration of the time limits set forth. This deed is subject to any and all other easements, agreements, restrictions, and rights -of -way of record. The undersigned person executing this deed, for and on behalf of said Grantor, represents and certifies that he is the duly elected official of the City of Carmel and has been fully empowered by proper ordinance of the Carmel City Council to execute and deliver this Deed. IN WITNESS WHEREOF, the Grantor has executed this deed, this c day of , 1995. --151-4-24A6A-G-RANTOR Ted Joh Mayor of e City of Carmel STATE OF INDIANA ) SS: COUNTY OF HAMILTON ) Before me, a Notary Public in and for said County and State, personally appeared Ted Johnson, Mayor of the City of Carmel, who acknowledged the execution of the foregoing Warranty Deed, and who, having been duly sworn, stated that any representations therein contained are true. Witness my hand and Notarial Seal this (cf -Lday of , 1995. My Commission Expires: otary l-)Q I� Printed County of Residence: .140/ [F1rv) y' This instrument was prepared by Gordon D. Byers, Attorney at Law, 136 South 9th Street, Suite 318, Noblesville, Indiana QUITCLAIM DEED THIS INDENTURE WITNESSETH, That Harold L. Kaiser ( "Grantor ") of Hamilton County in the State of Indiana, QUITCLAIMS to the City of Carmel of Hamilton County in the State of Indiana, for the sum of One Dollar ($1.00) and other valuable consideration, the receipt of which is hereby acknowledged, the following described real estate in Hamilton County, in the State of Indiana, to -wit: Part of the Northwest Quarter of Section 30, Township 18 North, Range 4 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana, more particularly described as follows: Commencing at the Southwest corner of the Northwest Quarter of Section 30, Township 18 North, Range 4 East of the Second Principal Meridian, Clay Township, Hamilton County, Indiana; thence North 00 degrees 09 minutes 57 seconds East (assumed bearing) 33.00 feet on the West line of said Northwest Quarter; thence South 89 degrees 58 minutes 03 seconds East 285.00 feet parallel with the South line of said Northwest Quarter to the Southeast corner of the real estate described in Instrument #93- 53046 in the Office of the Recorder of Hamilton County, Indiana, said corner being the Point of Beginning of the tract herein described; thence North 00 degrees 09 minutes 57 seconds East 132.00 feet on the East line of the real estate described in said Instrument #93 -53046 to the Northeast corner thereof;,thence South 89 degrees 58 minutes 03 seconds East 5.50 feet on the Easterly prolongation of the North line of the real estate described in said Instrument #93 -53046 to the Northwest corner of the real estate described in Deed Record 107, page 59 in said recorder's office; thence South 00 degrees 09 minutes 57 seconds West on the West line of the real estate described in said Deed Record 107, page 59 to the Southwest corner thereof, being on the Easterly prolongation of the South line of the real estate described in said Instrument #93- 53046; thence North 89 degrees 58 minutes 03 seconds West 5.50 feet on the Easterly prolongation of the South line of the real estate described in said Instrument #93 -53046 to the Point of Beginning, containing 726 square feet of land, more or less. IN WITNESS WHEREOF, the Grantor has executed this deed, this day of , 1995. GRANTOR VAL,-a 44!1°1° Harold L. Kaiser STATE OF INDIANA SS: COUNTY OF HAMILTON ) Before me, a Notary Public in and for said County and State, personally appeared Harold L. Kaiser, who acknowledged the execution of the foregoing Quitclaim Deed, and who, having been duly sworn, stated that any representations therein contained are true. Witness my hand and Notarial Seal this (0 day of 1995. My Commission Expires: lv , I ci°L(0o )2}A-,,c Notary Public -� Printed County of Residence: 1t.A,V1JV» This instrument was prepared by Gordon D. Byers, Attorney at Law, 136 South 9th Street, Suite 318, Noblesville, Indiana 46060 July 7, 1995 To the Purchaser of the real estate commonly known as: 40 East Main Street Carmel, IN. As an inducement to closing on the purchase of the above described property, this letter is to assure the purchaser that the City of Carmel has not taken any steps or offered to the adjoining landowner(s) any consideration or inducement for deeds clearing title which will preclude the purchaser from pursuing a quiet title action with respect to the advertised leal description of the above property to be sold. 6uoaso +A.e s Th" _Q,„4„,01 aQa Recorded th day of 2429 1111 t9 1 arran#1 Bub Record No. Pages o'clock Ai Recorder 31.0 570 BOOK . PAGE THIS INDENTURE WITNESSETH, That MAX R. JOHNSON and REX J. JOHNSON, brothers MAX R. JOHNSON of Hamilton County and REX J. JOHNSON of Madison County, in the State of Indiana Convey and Warrant to CITY OF CARMEL, INDIANA of HAMILTON County, in the State of INDIANA ONE DOLLAR AND OTHER VALUABLE CONSIDERATION Dollars following described Real Estate in Hamilton County, in the State of Indiana, to-wit: Part of Section 30, Township 18, Range 4, more particularly described as follows: Begin 10 rods East of the Northeast corner of Lot 1 Bethlehem, now Carmel, and run South 8 rods, thence East 5 rods, thence North 8 rods, thence West 5 rods, to the place of beginning, except a strip 7 feet wide off of the West side thereof, in Hamilton County, Indiana. for the sum of the Subject to all restrictions and easements of record. Taxes for the year 1979, due and payable in 1980. DULY ENTERED FOR TAXATION • day ��-il rti .�_ y19 i c Hamilton C:oun: IN WITNESS WHEREOF, The said MAX R. JOHNSON and REX J. JOHNSON, brothers Ha ve hereunto set their hand s STATE OF INDIANA, HAMILTON Before me, the undersigned, a Notary Public in and for said County ;MAX -R. JOHNSON and REX J. JOHNSON, and seals (Seal) (Seal) (Seal) this 8 ay of „/44...4n 19 (Seal) (Seal) (Seal) RE JOHNSON COUNTY, ss: and State, personally appeared the within named brothers • s So'acknotulelgofl. Jhe execution of the foregoing : ;,•'�• Tv, l i,IS u�a�hand and t ltfy • cdtx�ssi�rt'ptf "expires {" " of rya i • `Uy Notarial ■ Deed to be gatheir seal this p1 t9� Joseph Roberts, A This Instrument Recorded el / 1979 MARY L. CLARK, RECORDER, HAMC! iON COUNTY, IND. voluntary act{{ and deed. day of thagii 19 79 ljtbtlir Public of r°WAY•