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HomeMy WebLinkAboutARC DEVELOPMENT AGREEMENT 6 THIS DEVELOPMENT AGREEMENT (this "Agreement") is made as of th`e _day of June, 2017,by and between ARC Property Investment, LLC an Indiana limited liability company with an address of 1517 Fabricon Blvd., Jeffersonville, IN 47130 ("Developer"), and THE CITY OF JEFFERSONVILLE REDEVELOPMENT COMMISSION, a municipal body politic of Indiana (the "Commission"). This Agreement shall be effective upon its mutual execution and delivery by Developer and the Commission (the "Effective Date"). RECITALS: A. The Commission is the owner of certain real property located in the City of Jeffersonville, County of Clark, State of Indiana, as legally described on Exhibit "A-1" and commonly known as the Coltson Park Development Project (the "Property"), as more generally depicted on Exhibit "A-2"; B. Developer possesses the requisite experience, expertise and financial capabilities to develop and construct real estate development project, which includes at a minimum of twenty (20) single-family residences and no more than one commercial tenant(the "Project"); and C. The Commission and Developer agree that it is of mutual benefit for the parties to jointly formulate a plan for the Project that will include transfer of the fee title to the Property to the Developer and the mutual satisfaction of the commitments of each party contained herein. NOW THEREFORE, in consideration of the foregoing and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: ARTICLE 1 PURCHASE PRICE,ACCESS AND DUE DILIGENCE 1.1 Purchase Price. The purchase price to be paid by Developer to the Commission for the Property shall be One Dollar($1.00) (the "Purchase Price"). (a) Earnest Mone�De osit. Developer shall deposit with the Commission an earnest deposit of One Dollar ($1.00), to be held (the "Earnest Money") by the Commission. (b) Application. If the transaction contemplated by this Agreement closes, the Earnest Money shall be refunded to Developer. In the event the transaction contemplated by this Agreement does not close, the Earnest Money shall be disbursed as provided in this Agreement. 1.2 Feasibility Study and Inspection. Commencing on the Effective Date and continuing until August 7, 2017 ("Inspection Period"), unless this Agreement is earlier terminated, Developer and its agents, contractors, consultants, licensees and representatives (collectively, "Developer's Representatives") shall have reasonable access to the Property for the purpose of conducting studies, investigations, inspections and tests of the Property as Developer deems reasonably necessary or desirable, in its sole and absolute discretion, including, but not limited to, surveys and architectural, engineering, geo-technical and environmental inspections and tests (the "Site Inspections"), provided that: (i) Developer must give Commission reasonable prior telephone or written notice (which may be given via e-mail) of any such inspection or test, (ii) prior to assessing the Property and performing any inspection or test at or on the Property, Developer must deliver a certificate of insurance to Commission evidencing that Developer or Developer's Representatives which will be accessing the Property, as applicable, has in place commercial general liability insurance in the amount of$2,000,000 in the aggregate and not less than $1,000,000 for any injury or death of one or more persons in an occurrence, and not less than $500,000 for damage to tangible property (including loss of use) in an occurrence, and workers compensation insurance for its activities on the Property in terms and amounts reasonably satisfactory to Commission and covering any accident arising in connection with the presence of Developer or Developer's Representatives on the Property, which insurance shall name Commission as an additional insured thereunder, contain a cross liability provision, and contain a provision that the insurance provided by Developer hereunder shall be primary and noncontributing with any other insurance available to Commission (and its successors, assigns and affiliates), and (iii) all Site Inspections (as defined herein) of the Property shall be conducted by Developer or Developer's Representatives (as applicable) in compliance with Developer's responsibilities set forth in Section 1.2(a) below. Developer shall bear the cost of all Site Inspections, except as otherwise set forth in this Agreement. (a) Developer's Responsibilities. In conducting any Site Inspections of the Property, Developer shall (and shall cause Developer's Representatives to): (i) not unreasonably interfere with the operation and maintenance of the Property; (ii) not damage any part of the Property or any personal property owned or held by any third party; (iii) not injure or otherwise cause bodily harm to Commission, or its respective agents, guests, invitees, licensees, contractors, employees, or any tenants (if applicable) or their guests or invitees; (iv) comply with all applicable laws; (v) promptly pay when due the costs of all Site Inspections done with regard to the Property; (vi) not permit any liens to attach to the Property or any portion thereof by reason of the exercise of its rights hereunder; (vii) promptly and diligently repair any damage to the Property and restore any areas disturbed resulting directly or indirectly from any Site Inspections substantially to their same or reasonably similar condition prior to the performance of such Site Inspections (unless Developer purchases the Property pursuant to the terms of a mutually acceptable Development Agreement); and (viii) not reveal or disclose prior to closing any information obtained during the Inspection Period concerning the Property or the Property Documents (hereinafter defined) to anyone except as may be otherwise required by law or which is a matter of public record without the prior written consent of the Commission. Notwithstanding anything to the contrary contained herein, Developer may disclose any information to partners, directors, officers and employees of Developer and/or Developer's Representatives, Developer's lenders, investors and financial advisors and to such parties' outside counsel and accounting firms, who, in Developer's reasonable - 2 - judgment, need to know such information for the purpose of evaluating the possible purchase of the Property by Developer. (b) Documents and Items. To the extent that such items are available in Commission's possession or under its control, Commission will make available to Developer, and allow Developer to make copies at Developer's expense, for Developer's or Developer's Representatives' review and inspection, those certain documents relating to the Property. Developer shall not rely on such documents and shall independently verify the truth, accuracy and completeness of the information and/or items contained therein. (c) Disclaimers. Developer acknowledges that neither Commission nor any affiliate, agent, employee, officer or member of Commission has made nor does it make any warranty or representation regarding the truth, accuracy or completeness of the Property Documents or the source(s) thereof. Developer further acknowledges that some, if not all, of the Property Documents were prepared by third parties other than Commission. Commission expressly disclaims any and all liability for representations or warranties, express or implied, statements of fact and other matters contained in such information, or for omissions from the Property Documents or any other written or oral communications transmitted or made available to Developer. Developer shall rely solely upon Developer's own investigation with respect to the Property, including, without limitation, the Property's physical, environmental and economic condition, compliance or lack of compliance with any ordinance, order, permit or regulation or any other attribute or matter relating thereto. Commission has not undertaken any independent investigation as to the truth, accuracy or completeness of the Property Documents and is providing the Property Documents solely as an accommodation to Developer. (d) Indemnity Obligations. Developer, for and on behalf of itself, its officers, members, managers, directors, licensees, invitees, agents, and employees and Developer's Representatives, shall and hereby does indemnify, defend, release, discharge and forever hold harmless Commission and its officers, members, managers, directors, employees, partners, brokers, agents, and any person, firm, corporation, trust, partnership, limited liability company or other entity claiming by through or under Commission (collectively, "Indemnified Parties") from and against any and all actions, claims, demands, liabilities, liens, losses, costs (including court costs), damages, awards and expenses (including reasonable attorney's fees) arising from (i) Developer's or Developer's Representatives' access or entry onto the Property; (ii) out of any event, accident or occurrence causing damage or injury to or death of any person or property resulting from the use of or access to the Property by Developer or Developer's Representatives in connection with this Agreement; (iii) any Site Inspections performed by, Developer or Developer's Representatives; or (iv) any breach by Developer of the terms of this Agreement including, without limitation, the breach by Developer (or by Developer's Representatives) of the confidentiality provisions of Section 111 hereof; provided, however, that Developer shall have no obligation to - 3 - remediate and/or indemnify the Commission or the Indemnified Parties for any pre-existing conditions merely discovered or revealed by Developer's investigations with respect to the Property to extent Developer does not exacerbate the same; further provided, however, that Developer shall have no obligation to remediate and/or indemnify the Commission or the Indemnified Parties from the said causes caused by any negligent or willful acts of the Commission or the Indemnified Parties. Commission's and Indemnified Parties' right to indemnity from Developer shall in no way be limited to the amount recoverable under any insurance maintained by Developer as required in this Agreement. The provisions of this Section 1.2(d) shall survive the termination of this Agreement or the Closing for a period of one (1) year. 1.3 Contingency Waiver Date. For the period from the Effective Date through August 7, 2017 (the "Contingency Waiver Date"), Developer and employees, agents and contractors, shall have the right to inspect, test, study and investigate (which includes the Site Inspections) the Property and review the Property Documents in a manner Developer deems necessary to determine whether the Property is suitable for Developer in Developer's sole and absolute discretion. Developer shall be solely responsible for any and all costs associated with its Site Inspections of the Property, unless this Agreement specifically allocates such responsibility to the Commission. Until the Contingency Waiver Date, Developer shall have the right to terminate this Agreement for any reason whatsoever, or no reason, in its sole and absolute discretion, upon written notice to the Commission, in which event the Earnest Money shall be refunded to Developer and the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement). If Developer fails to give the Commission such written notice of termination on or before the Contingency Waiver Date, then Developer shall be deemed to have accepted the Property and shall have waived any right to terminate this Agreement pursuant to this Section 1.3. ARTICLE 2 TITLE AND SURVEY 2.1 Receipt of Survey and Title Commitment. Developer to obtain, at Commission's's sole cost and expense, (i) a title commitment from a title company mutually acceptable to the parties (the "Title Commitment") and (ii) an ALTA survey, at Developer's expense from a surveyor mutually acceptable to the parties (the "Survey"). Developer shall provide copies of the Survey and the Title Commitment to the Commission as soon as practical after receipt. The Survey shall be certified to the Commission, in addition to any other parties that Developer may require. The Commission shall also provide Developer copies of the Archeological Surveys (Phase I & II) within five (5) business days of the Effective Date. 2.2 Objections. Developer shall have until August 7, 2017 to examine the Survey and the Title Commitment and to provide written objections to the Commission of defects set forth on the Survey and/or the Title Commitment (collectively, the "Objections"). Notwithstanding any other provision of this Agreement, the Commission shall be obligated to remove all monetary liens attached to the Property evidencing the Commission's obligation to pay money to a third party at Closing, irrespective of whether such are stated as Objections. In the event - 4 - Developer gives timely written notice of its Objections, the Commission shall have the right, but not the obligation, to attempt to remove, satisfy or otherwise cure the Objections within thirty (30) days of notice. Within seven (7) business days after receipt of Developer's notice of Objection, the Commission shall give written notice to Developer informing Developer of the Commission's election with respect to the Objections. If the Commission fails to give written notice of its election within such seven (7) day period, the Commission shall be deemed to have elected not to attempt to cure the Objections. In the event an updated Title Commitment, updated Survey or disclosure through any other means discloses a defect in the title to the Property after August 7, 2017, and such defect was not known to the Developer, Developer shall have five (5) business days to examine the disclosed defect and make an Objection if Developer deems it necessary to do so. Any such Objection made after August 7, 2017, shall be handled as if the Objection were made prior to August 7, 2017. (a) If the Commission elects or is deemed to have elected not to attempt to cure any Objections or if, after electing to attempt to cure the Objections, the Commission determines by written notice to Developer that the Commission is unwilling or unable to remove, satisfy or otherwise cure any Objections, Developer's sole remedy under this Agreement shall be to either: (i) elect to terminate this Agreement by written notice to the Commission, in which event the Earnest Money and all interest earned thereon shall be refunded to Developer and the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement); or (ii) waive the Objections and continue the transaction contemplated by this Agreement. If the Commission does remove, satisfy or otherwise cure the Objections, then this Agreement shall continue in full force and effect. (b) To terminate this Agreement pursuant to this Section 2.2, Developer must give written notice to the Commission of Developer's election to terminate not later than seven (7) business days (i) after receipt of written notice from the Commission of the Commission's election not to attempt to cure any Objection; (ii) after receipt of written notice from the Commission of the Commission's determination, having previously elected to attempt to cure, that it is unable or unwilling to do so; or (iii) after the Commission's failure to give written notice of its election to attempt to cure any Objection. If Developer fails to give timely notice of its election to terminate for any reason whatsoever, Developer's right to terminate this Agreement under this Section 2 shall expire and any Objections shall be deemed to be a "Permitted Encumbrance". Moreover, any matter disclosed on the Survey or the Title Commitment to which Developer does not timely object or which are approved by Developer, any Objection that is waived or deemed to have been waived by Developer, and any matter that would have been disclosed by an accurate survey of the Property, shall be deemed to be a "Permitted Encumbrance". - 5 - ARTICLE 3 REPRESENTATIONS AND WARRANTIES 3.1 Representations and Warranties of the Commission. The Commission represents and warrants to Developer that, to the best of its knowledge: (a) Title. The Commission owns fee simple title to the Property. (b) Authority. The Commission has the power and authority to execute and deliver this Agreement and to incur all obligations of the Commission provided herein. The person executing this Agreement for the Commission has been fully authorized and empowered to bind the Commission. The performance and compliance by the Commission with the terms, provisions and conditions of this Agreement do not and will not conflict with or result in any violation of any of the terms, conditions, or provisions of any agreement, obligation, lease, license, judgment, decree, order, statute, rule or regulation applicable to the Commission or the Property. (c) There is no existing or, to the Commission's knowledge, pending or threatened litigation, suit, arbitration, unsatisfied order or judgment, investigation, action, or proceeding before any court or administrative agency affecting the Commission and/or the Property that would, if adversely determined, adversely affect the Property. (d) Commission has not received written notice of any existing and/or uncorrected violation of any fire, zoning, building, environmental, or health law or regulation, or any other federal, state or local law or regulation affecting the Property, or any written notice of taking or condemnation, or intent to take or condemn all or any portion of the Property. (e) The Commission has no knowledge of any unpaid claims of contractors, materialmen or laborers, which have been contracted with by Commission which could give rise to a lien against the Property. (f) The Commission shall request and receive a Site Status Letter or Comfort Letter from IDEM approving restricted residential development based on the average concentrations of arsenic and PAI-Is detected on the Property within 180 days of the Effective Date. The Commission may retain Developer to achieve a Site Status Letter or Comfort Letter from IDEM and coordinate/oversee any remediation required on the Property. The Commission shall pay Developera fee in an amount not to exceed $25,000.00 for those services, exclusive of the actual costs to remediate the soil. Should Commission fail to receive a Site Status Letter or Comfort Letter from IDEM within said timeframe, Developer shall not be required to fulfill the building requirements of Section 4.1 below, but shall be authorized and retains the right to build one (1) professional office building. If no determination or ruling has been made by IDEM within the 180 day timeframe, - 6 - the parties agree to extend by thirty (30) day increments, not to exceed one (1) year from the Effective Date until a ruling has issued by IDEM. (g) If a Site Status Letter or Comfort Letter cannot be obtained from IDEM, Developer may build its office on a portion of the Property closest to the Marriott Towne Place Suites. The office will be a three (3) story, approximately 18,000 square feet building, constructed of the same or similar materials of the hotel and will have green spaces on either side of the office. Any remaining portion of the Property not utilized by the Developer will revert back to the Commission for green space and public parking. The continued validity in all respects of the representations and warranties made by the Commission in this Section 3.1, both at the time each is made and as of the Closing, shall be a condition precedent to Developer's obligations hereunder. All representations and warranties contained in this Agreement from the Commission shall be deemed remade as of the Closing Date and shall survive the Closing for one (1) year; provided, however, such representations and warranties shall not terminate with respect to any representation and warranty to which the Developer shall have, before the expiration of the 1-year period, previously made a claim by delivering written notice of such claim (stating in reasonable detail the basis of such claim) to the Commission. 3.2 Representations and Warranties of Developer. Developer represents and warrants to the Commission that, to the best of its knowledge: (a) Developer is a limited liability company, duly organized and validly existing under the laws of the State of Indiana, authorized to conduct business in the State of Indiana, and has all necessary power and authority to execute and deliver this Agreement and any other documents or instruments to be executed and delivered by Developer pursuant to this Agreement and perform all of its obligations hereunder and thereunder. This Agreement and any other documents or instruments to be executed and delivered by Developer pursuant to this Agreement have been duly authorized by all requisite action on the part of Developer and, when executed and delivered, will constitute a valid and legally binding obligation of Developer enforceable in accordance with their respective terms. Neither the execution and delivery of this Agreement by Developer or any other documents or instruments to be executed and delivered by Developer pursuant to this Agreement nor the performance of its obligations hereunder or thereunder will result in the violation of any provisions of its constitutional documents or will conflict with any other agreement to which Developer is a party or is otherwise bound. (b) There is no action, suit, arbitration, unsatisfied order or judgment, government investigation or proceeding pending against Developer which, if adversely determined, could individually or in the aggregate materially interfere with the consummation of the transaction contemplated by this Agreement. - 7 - (c) Developer is in compliance with all laws, statutes, rules and regulations of any federal, state or local governmental authority in the United States of America applicable to Developer and all beneficial owners of Developer, including, without limitation, the requirements of Executive Order No. 133224, 66 Fed Reg. 49079 (September 25, 2001) (the "Order") and other similar requirements contained in the rules and regulations of the Office of Foreign Asset Control, Department of the Treasury ("OFAC") and in any enabling legislation or other Execution Orders in respect thereof(the Order and such other rules, regulations, legislation, or orders are collectively called the "Orders"). Neither Developer nor any beneficial owner of Developer is listed on the Specially Designated Nationals and Blocked Persons List maintained by OFAC pursuant to the Order and/or on any other list of terrorists or terrorist organizations maintained pursuant to any of the rules and regulations of OFAC or pursuant to any other applicable Orders. ARTICLE 4 PROJECT APPROVAL 4.1 Project Requirements. The parties acknowledge that the Commission is entering into this Agreement based upon Developer's representations that it will develop the Project in accordance with the following criteria(collectively, the "Project Requirements"): (a) to construct the Project to be substantially consistent with the site plan attached as Exhibit B (the "Site Plan"); (b) to develop and construct improvements for the following uses: at a minimum of twenty (20) apartment or condominium units residences with no more than one (1) professional office (developer agrees the commercial tenant shall be the developer's principal place of business and headquarters); and (c) to build the Project and the adjacent TPS Marriott Hotel out of the brick, stone, and masonry board of the mock wall Mayor Mike Moore reviewed and agreed to for a consistent streetscape. (See Exhibit Q 4.2 Project Plans. Within sixty (60) days after the Effective Date, Developer shall submit to the Executive Director of the Commission, two (2) complete sets of its preliminary plans for the Project, which shall include: (a) a Site Plan, (b) landscape plan, (c) lighting plan, (d) conceptual exterior elevations of improvements, and (e) sign plans, (collectively, the "Project Plans"). The Project Plans shall incorporate the Project Requirements. Upon submission of the Project Plans, the Commission shall schedule a meeting in accordance with all legal requirements to consider approval or denial of the Project Plans. If the Project Plans are timely submitted and the Commission does not approve or deny the Project Plans within twenty (20) business days from the submission date, the Contingency Waiver Date and the Closing Date shall be extended by the number of business days that occur after the Project Plan submissions date, less twenty business days. If the Commission does not approve the Project Plans within sixty (60) days from the submission date, then this Agreement shall terminate and the Earnest Money related to the Project Plans shall be refunded and reimbursed to Developer provided the Project Plans are substantially consistent with Section 4.1, and the parties shall have no further - 8 - rights or obligations under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement). 4.3 Infrastructure Improvements. The Commission agrees to expend Two Hundred Twenty Five Thousand Dollars ($225,000.00) on public infrastructure improvements that will serve and benefit the property, including sidewalks, drainage, street lighting, etc. Said improvements shall be approved and coordinated with Developer. 4.4 Zoning Approval. Developer shall obtain a waiver or variance from the Board of Zoning Appeals to allow commercial activity on the property. Commission agrees to cooperate with Developer in obtaining such approval. ARTICLE 5 DEVELOPER'S COVENANTS AND CONSTRUCTION CONDITION 5.1 Developer's Covenants. The parties acknowledge the Commission is entering into this Agreement based upon the Developer's compliance with the following conditions after Closing(collectively, "Developer's Covenants"). (a) Developer shall construct the Project in substantially the same manner with the Project Requirements and the Project Plans approved by the Commission pursuant to Section 6.1. (b) Developer shall commence construction of the Project within sixty (60) days of receiving a building permit and substantially complete the Project on or before December 31, 2018 ("Construction Condition"), subject to Force Majeure. (c) Developer, or any owner or tenant, of an improved lot, shall not apply for, seek, claim or accept a reduction of, or an exemption from, the real estate property taxes with respect to the Property(including the Urban Enterprise Zone tax credit) or any portion thereof(whether through appeal of assessment, abatement request, refund request, exemption request or otherwise). This covenant shall not be interpreted to prohibit Developer from appealing an assessment of the assessed values relating to the Property. The Commission shall have all rights at law and equity to enforce the Developer's Covenants. 5.2 L ntentionally Omitted ARTICLE 6 CONDITIONS TO CLOSING OBLIGATIONS 6.1 Conditions to Commission's Closing_Obli ag tion. Commission's obligation to proceed with the Closing is contingent upon satisfaction or Commission's waiver of the following(collectively, the "Commission Closing Conditions"): - 9 - (a) All representations and warranties of Developer made in this Agreement shall be true, correct and complete in all material respects on and as of the Closing Date, as if such representations and warranties were first made on the Closing Date, and Developer shall have delivered to Commission a certificate providing that all representations and warranties of Developer made in this Agreement are true, correct and complete in all material respects on and as of the Closing Date. (b) Developer shall have delivered to Commission all of the Developer Closing Documents (as hereinafter defined) in accordance with the requirements of this Agreement. (c) Developer shall have performed all covenants and obligations required to be performed by Developer on or before the Closing Date. (d) The Commission shall have approved the Project Plans. (e) Developer shall have provided the Commission with a letter from a lending institution evidencing sufficient funding sources for the construction and completion of the Project. (f) Developer shall have obtained, at Developer's expense, all necessary governmental and private approvals and permits required for the development and construction of of the Project improvements and provided proof thereof to the Commission. 6.2 Failure of a Commission Closing Condition. If any of the Commission Closing Conditions has not been satisfied on or before the Closing Date, then Commission may, in its sole discretion, elect to either (i) extend the Closing Date for up to 30 days in order to permit Developer additional time in order to attempt to satisfy the Commission Closing Conditions, or (ii) terminate this Agreement by written notice to Developer, in which event the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement). Commission shall have the right to unilaterally waive any Commission Closing Condition by written notice to Developer or by proceeding to the Closing. 6.3 Conditions to Developer's Closing Obligation. Developer's obligation to proceed with the Closing is contingent upon satisfaction or Developer's waiver of the following (collectively, the "Developer Closing Conditions"): (a) All representations and warranties of Commission made in this Agreement shall be true, correct and complete in all material respects on and as of the Closing Date, as if such representations and warranties were first made on the Closing Date, and Commission shall have delivered to Developer a certificate providing that all representations and warranties of Commission made in this Agreement are true, correct and complete in all material respects on and as of the Closing Date. - 10 - (b) Commission shall have delivered to Developer all of the Commission Closing Documents (as hereinafter defined) in accordance with the requirements of this Agreement. (c) The Commission shall have caused the removal of the existing residential improvements, including utilities on the Property. (d) The Commission shall have approved the Project Plans. (e) There shall have been no new Hazardous Material discharged, released or disposed of on, under or at the Property or any part thereof, not caused by Developer, or its agents, contractors, consultants, licensees and representatives. (f) Commission shall have performed all covenants and obligations required to be performed by Commission on or before the Closing Date. 6.4 Failure of a Developer Closing Condition. If any of the Developer Closing Conditions has not been satisfied on or before the Closing Date, then Developer may, in its sole discretion, elect to either (i) extend the Closing Date for up to 30 days in order to permit Commission additional time in order to attempt to satisfy the Developer Closing Conditions, or (ii) terminate this Agreement by written notice to Commission, in which event the parties shall have no further right or obligation under this Agreement (except for rights or obligations which expressly survive the termination of this Agreement) and in which event the Earnest Money shall be refunded and reimbursed to Developer. Developer shall have the right to unilaterally waive any Developer Closing Condition by written notice to Commission or by proceeding to the Closing. ARTICLE 7 CLOSING 7.1 Closing. The closing of the transaction contemplated by this Agreement (the "Closing") is to occur at the office of the Escrow Agent on a date agreed to by both Developer and the Commission; provided, that such date shall be on or before September 7, 2017 (the "Closing Date"). ARTICLE 8 PROPERTY TAX 8.1 Property Tax. Developer shall assume and be obligated to pay any and all real estate taxes and assessments which become due and payable from and after Closing. ARTICLE 9 CLOSING COSTS 9.1 Closing Deliveries. (a) The Property Documents. At the Closing, the Commission shall, upon Developer's payment of the Purchase Price, deliver the following to Developer: - 11 - (i) a special warranty deed (the "Deed"), conveying fee simple title to the Property from the Commission to Developer, free and clear of all liens and encumbrances except the Permitted Encumbrances, and including the Developer's Covenants, the Reversionary Right, the Infrastructure Reimbursement; (ii) a non-foreign person affidavit; (iii) a vendor's affidavit to the Title Company with commercially responsible terms sufficient to delete the standard exceptions from the final title policy that do not require a survey. (iv) such disclosures and reports as are required by applicable state law in connection with the conveyance of real property; and (v) such other documents as may be required by the terms of this Agreement, or as may reasonably be necessary in order to consummate the transaction contemplated by this Agreement. (b) Developer's Deliveries. At the Closing, Developer shall deliver the following to the Commission: (i) the Purchase Price, subject to any credits or pro-rations provided for in this Agreement; (ii) such disclosures and reports as are required by applicable state law in connection with the conveyance of real property; and (iii) such other documents as may be required by the terms of this Agreement, or as may reasonably be necessary in order to consummate the transaction contemplated by this Agreement. (c) Closing Statement. At the Closing, the Commission and Developer shall each execute a closing statement drafted by the Title Company or another person reasonably acceptable to both the Commission and Developer. (d) Deadline. Closing costs shall be paid by the parties as set forth below or as otherwise specifically set forth in this Agreement; provided, however, in the event any charge or fee is not addressed by this Agreement, the charge or fee shall be paid according to local Indiana custom. 9.2 Closing Costs. Developer shall be responsible for the payment of (a) escrow or insured closing costs charged by the Title Company, if any; (b) costs of the Title Commitment, owner's title policy and any lender's title policy obtained; - 12 - (c) costs of the Survey; (d) any costs associated with financing for the Project obtained by Developer; (e) other customary charges to be paid by a purchaser including but not limited to recordation of the deed and filing of the sales disclosure form; and (f) all architectural, engineering, environmental inspection fees and costs, and any and all other due diligence costs incurred by Developer in connection with the transaction. Each party shall pay its own attorneys' fees, subject to any party's remedy for reimbursement of reasonable attorneys' fees provided for in the Development Agreement. ARTICLE 10 DEFAULT. 10.1 The Commission's Default. In the event that the Commission fails to perform any of its obligations under this Agreement for any reason other than Developer's default or the permitted termination of this Agreement by the Commission or Developer as expressly provided in this Agreement, Developer shall be entitled, as its sole remedy, either to (i) elect to terminate this Agreement by written notice to the Commission, in which event the Earnest Money shall be refunded and reimbursed to Developer, or (ii) enforce specific performance of the Commission's obligations. Developer shall be deemed to have elected to terminate this Agreement if Developer fails to file suit for specific performance against the Commission in a court having jurisdiction in the county and state in which the Property is located, on or before ninety(90) days following the date upon which the Closing was to have occurred. 10.2 Developer's Default. In the event that Developer fails to perform any of its obligations under this Agreement for any reason other than the Commission's default or the permitted termination of this Agreement by either the Commission or Developer as expressly provided in this Agreement, the Commission shall be entitled, as its sole remedy, to terminate this Agreement and receive the Earnest Money, and any interest earned thereon, as liquidated damages for the breach of this Agreement, it being agreed between the parties to this Agreement that the actual damages to the Commission in the event of such breach are impractical to ascertain and the amount of the Earnest Money is a reasonable estimate thereof. 10.3 Attorneys' Fees. In the event legal action is instituted by any party to enforce the terms of this Agreement or which arises out of the execution of this Agreement, the prevailing party in such legal action will be entitled to receive from the other party the prevailing party's reasonable attorneys' fees and court costs, including the costs of appeal, as may be determined and awarded by the court in which the action is brought. The right to attorneys' fees shall survive the termination of this Agreement or the Closing. ARTICLE 11 DISCLAIMERS 11.1 SUBJECT TO THE EXPRESS REPRESENTATIONS AND WARRANTIES OF THE COMMISSION SET FORTH IN SECTION 3.1 OF THIS AGREEMENT, IT IS - 13 - UNDERSTOOD AND AGREED THAT THE COMMISSION IS NOT MAKING AND HAS NOT AT ANY TIME MADE ANY REPRESENTATIONS OR WARRANTIES OF ANY KIND OR CHARACTER, EXPRESS OR IMPLIED, WITH RESPECT TO THE PROPERTY, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OR REPRESENTATIONS AS TO HABITABILITY, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE (OTHER THAN THE COMMISSION'S LIMITED WARRANTY OF TITLE TO BE SET FORTH IN THE DEED), ZONING, TAX CONSEQUENCES, LATENT OR PATENT PHYSICAL OR ENVIRONMENTAL CONDITION, UTILITIES, OPERATING HISTORY OR PROJECTIONS, VALUATION, GOVERNMENTAL APPROVALS, THE COMPLIANCE OF THE PROPERTY WITH GOVERNMENTAL LAWS, THE TRUTH, ACCURACY OR COMPLETENESS OF THE DOCUMENTS OR ANY OTHER INFORMATION PROVIDED BY OR ON BEHALF OF THE COMMISSION TO DEVELOPER, OR ANY OTHER MATTER OR THING REGARDING THE PROPERTY. SUBJECT TO THE EXPRESS REPRESENTATIONS AND WARRANTIES OF THE COMMISSION AS SET FORTH IN SECTION 3.1 OF THIS AGREEMENT, DEVELOPER ACKNOWLEDGES AND AGREES THAT UPON CLOSING, THE COMMISSION SHALL SELL AND CONVEY TO DEVELOPER AND DEVELOPER SHALL ACCEPT THE PROPERTY "AS IS, WHERE IS, WITH ALL FAULTS". SUBJECT TO THE EXPRESS REPRESENTATIONS AND WARRANTIES OF THE COMMISSION AS SET FORTH IN SECTION 3.1 OF THIS AGREEMENT, DEVELOPER HAS NOT RELIED AND WILL NOT RELY ON, AND THE COMMISSION IS NOT LIABLE FOR OR BOUND BY, ANY EXPRESS OR IMPLIED WARRANTIES, GUARANTIES, STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE PROPERTY OR RELATING THERETO (INCLUDING SPECIFICALLY, WITHOUT LIMITATION, PROPERTY INFORMATION PACKAGES DISTRIBUTED WITH RESPECT TO THE PROPERTY) MADE OR FURNISHED BY THE COMMISSION, THE MANAGER OF THE PROPERTY, OR ANY REAL ESTATE BROKER OR AGENT REPRESENTING OR PURPORTING TO REPRESENT THE COMMISSION, TO WHOMEVER MADE OR GIVEN, DIRECTLY OR INDIRECTLY, ORALLY OR IN WRITING. DEVELOPER REPRESENTS TO THE COMMISSION THAT DEVELOPER HAS CONDUCTED, OR WILL CONDUCT PRIOR TO CLOSING, SUCH INVESTIGATIONS OF THE PROPERTY, INCLUDING BUT NOT LIMITED TO, THE PHYSICAL AND ENVIRONMENTAL CONDITIONS THEREOF, AS DEVELOPER DEEMS NECESSARY TO SATISFY ITSELF AS TO THE CONDITION OF THE PROPERTY AND THE EXISTENCE OR NONEXISTENCE OR CURATIVE ACTION TO BE TAKEN WITH RESPECT TO ANY HAZARDOUS OR TOXIC SUBSTANCES ON OR DISCHARGED FROM THE PROPERTY, AND WILL RELY SOLELY UPON SAME AND NOT UPON ANY INFORMATION PROVIDED BY OR ON BEHALF OF THE COMMISSION OR ITS AGENTS OR EMPLOYEES WITH RESPECT THERETO, OTHER THAN SUCH REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMMISSION AS ARE EXPRESSLY SET FORTH IN SECTION 3.1 OF THIS AGREEMENT. UPON CLOSING, DEVELOPER SHALL ASSUME THE RISK THAT ADVERSE MATTERS, INCLUDING BUT NOT LIMITED TO, CONSTRUCTION DEFECTS AND ADVERSE PHYSICAL AND ENVIRONMENTAL CONDITIONS, MAY NOT HAVE BEEN REVEALED BY DEVELOPER'S INVESTIGATIONS, AND DEVELOPER, UPON CLOSING, EXCEPT IN CONNECTION WITH ANY REPRESENTATIONS AND WARRANTIES OF THE COMMISSION MADE IN SECTION 3.1 OF THIS AGREEMENT, - 14 - SHALL BE DEEMED TO HAVE WAIVED, RELINQUISHED AND RELEASED THE COMMISSION (AND THE COMMISSION'S MEMBERS, MANAGERS, OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS) FROM AND AGAINST ANY AND ALL CLAIMS, DEMANDS, CAUSES OF ACTION (INCLUDING, WITHOUT LIMITATION, CAUSES OF ACTION IN TORT), LOSSES, DAMAGES, LIABILITIES, COSTS AND EXPENSES (INCLUDING, WITHOUT LIMITATION, ATTORNEYS' FEES AND COURT COSTS) OF ANY AND EVERY KIND OR CHARACTER, KNOWN OR UNKNOWN, WHICH DEVELOPER MIGHT HAVE ASSERTED OR ALLEGED AGAINST THE COMMISSION (AND THE COMMISSION'S MEMBERS, MANAGERS, OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS)AT ANY TIME BY REASON OF OR ARISING OUT OF ANY LATENT OR PATENT CONSTRUCTION DEFECTS, PHYSICAL CONDITIONS (INCLUDING, WITHOUT LIMITATION, ENVIRONMENTAL CONDITIONS), VIOLATIONS OF ANY APPLICABLE LAWS (INCLUDING, WITHOUT LIMITATION, ANY ENVIRONMENTAL LAWS) OR ANY AND ALL OTHER ACTS, OMISSIONS, EVENTS, CIRCUMSTANCES OR MATTERS REGARDING THE PROPERTY. NOTHING IN THIS ARTICLE 11 SHALL BE DEEMED TO LIMIT THE COMMISSION'S LIMITED WARRANTY OF TITLE TO BE SET FORTH IN THE DEED. 11.2 THE COMMISSION AND DEVELOPER ACKNOWLEDGE THAT THE COMPENSATION TO BE PAID TO THE COMMISSION FOR THE PROPERTY REFLECTS THAT THE PROPERTY IS BEING SOLD SUBJECT TO THE PROVISIONS OF THIS ARTICLE 11, AND THE COMMISSION AND DEVELOPER AGREE THAT THE PROVISIONS OF THIS ARTICLE 11 SHALL SURVIVE CLOSING. 11.3 NOTWITHSTANDING THE AFOREMENTIONED DISCLAIMERS OF ARTICLE 11, DEVELOPER IS MATERIALLY RELIANT UPON COMMISSION'S ASSERTION THAT THE PROPERTY IS FREE AND CLEAR OF ANY AND ALL ARCHEOLOGICAL IPEDIMENTS WHICH COULD PROHIBIT THE DEVELOPER FROM DEVELOPING THE PROPERTY. COMMISSION AGREES TO INDEMNIFY DEVELOPER IN AN AMOUNT NOT TO EXCEED $50,000.00 SHOULD THE PROPERTY FAIL TO BE FREE AND CLEAR OF ANY AND ALL ARCHEOLOGICAL IPEDIMENTS. FURTHERMORE, SHOULD ANY ARCHEOLOGICAL ISSUES AVAIL ITSELF DURING THE CONSTRUCTION PROCESS, WHICH PROHIBITS THE PROJECT FROM MOVING FORWARD, DEVELOPER RETAINS THE RIGHT TO IMMEDIATELY VACATE THE SITE, UPON WRITTEN NOTICE TO THE COMMISSION, AND SHALL NOT BE HELD LIABLE OR FINANCIALLY RESPONSIBLE FOR MOVING THE FINDINGS, REMEDIATING THE SITE, OR ANY AND ALL OTHER RESPONSIBILITIES OR COSTS THAT MAY RESULT. SHOULD DEVELOPER EXERCISE THE RIGHT TO VACATE THE SITE, THE OWNERSHIP OF THE PROPERTY WILL IMMEDIATELY REVERT BACK TO THE COMMISSION. THIS SECTION SHALL SURVIVE THE CLOSING FOR ONE (1) YEAR. ARTICLE 12 MISCELLANEOUS 12.1 Assignment. Developer shall not assign its rights or obligations under this Agreement to another party without the Commission's written consent, which shall not be - 15 - unreasonably withheld, delayed or conditioned. Notwithstanding anything to the contrary in this Section, this Agreement may be assigned by Developer, without the prior written consent of the Commission, to an affiliate of Developer or any other entity that is in control of, controlled by or under common control with Developer without the Commission's written consent; provided, that no such assignment shall release Developer of its obligations or duties under this Agreement, and that the assignee agrees to be specifically bound by the terms of this Agreement. 12.2 Brokers. Each of Developer and the Commission represent and warrant that they, respectively, have not dealt with any broker, agent, finder or similar party in connection with the transaction contemplated by this Agreement, and each of Developer and the Commission hereby indemnifies and holds harmless the other from any liability, cost or expense (including, without limitation, reasonable attorneys' fees and costs of enforcement of the foregoing indemnity, whether arising in any underlying action or in the enforcement of this right of indemnification) arising out of the falsity of the foregoing representation by such party. The provisions of this Section 12.2 shall survive the Closing or any earlier termination of this Agreement. 12.3 Right to Market. Upon the day of the Effective Date, Developer shall have the right to market and presale the apartments or condominiums, including but not limited to, installing signage on-site, placing ads in newspapers and online, or any other method of marketing. 12.4 Applicable Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Indiana. 12.5 Entire Agreement. This Agreement contains the entire agreement between the parties relating to the transactions contemplated hereby and all prior or contemporaneous agreements, oral or written, are superseded hereby. 12.6 Time of Essence. Developer and the Commission hereby agree that time is of the essence with regard to the terms and conditions of this Agreement. 12.7 Binding Effect. All of the terms, covenants and conditions of this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective successors and permitted assigns. 12.8 Notices. All notices which are required or permitted under this Agreement shall be in writing and shall be deemed to have been given, delivered or made, as the case may be (notwithstanding lack of actual receipt by the addressee), (a) when delivered by personal delivery against a written receipt, (b) one business day after having been deposited with an expedited, overnight courier service marked for next day delivery, or (c) when delivered by telecopy, facsimile or e-mail (except the next business day when delivered after 5:00 p.m. (EST)), addressed to the party to whom notice is intended to be given at the address set forth below: If to the Commission: City of Jeffersonville, IN Rob Waiz, Executive Director Jeffersonville Department of Redevelopment 500 Quartermaster Court Jeffersonville, IN 47130 - 16 - (812) 280-3801- telephone (812) 285-6403- fax Email: rwaiz@CityofJeff.net With a copy to: City of Jeffersonville Les Merkley, Corporation Counsel 500 Quartermaster Court Jeffersonville, IN 47130 (812) 285-6493- telephone (812) 285-6403- fax Email: lmerkley@CityofJef£net If to the Developer: ARC Jacob C. Elder, Vice President and General Counsel 1517 Fabricon Blvd. Jeffersonville, IN 47130 (812) 285-1940 jelder cr,arccon.net With a copy to: AFP Alan Applegate 428 Meigs Ave. Jeffersonville, IN 47130 (812) 284-9499 AApplegate(&afpfirm.com or to such other address as any party may from time to time designate by notice in writing to the other. The refusal to accept delivery by any party or the inability to deliver any communication because of a changed address of which no notice has been given in accordance with this Section 12.7 or an electronic malfunction attributable to the receiving party shall constitute delivery. 12.9 Waiver. The failure of either party to exercise any right given hereunder or to insist upon strict compliance with any term, condition or covenant specified herein, shall not constitute a waiver of such party's right to exercise such right or to demand strict compliance with such term, condition, or covenant. 12.10 Severabilitv. The invalidity or unenforceability of any provision of this Agreement shall not affect the other provisions, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision were omitted. 12.11 Amendment. Neither this Agreement nor any provision hereof may be changed, amended, modified, waived, or discharged either orally or by any course of dealing, but only by an instrument in writing signed by the party against whom enforcement of the change, amendment, modification, waiver or discharge is sought. - 17 - 12.12 Counterparts, Separate Signature Pages and Facsimile Signatures. This Agreement may be executed in several counterparts, by separate signature pages, and/or by facsimile signatures, each of which may be deemed an original, and all such counterparts, separate signature pages, and facsimile signatures together shall constitute one and the same Agreement. 12.13 Calculation of Days. In the event that any date described in this Agreement for the performance of an action required hereunder by the Commission, Developer and/or the Title Company falls on a Saturday, Sunday or federal legal holiday, such date shall be deemed postponed until the next business day thereafter. 12.14 Internretation. This Agreement and any related instruments shall not be construed more strictly against one party than against the other by virtue of the fact that initial drafts were made and prepared by counsel for one of the parties, it being recognized that this Agreement and any related instruments are the product of extensive negotiations between the parties hereto and that both parties hereto have contributed substantially and materially to the final preparation of this Agreement and all related instruments. 12.15 No Recordation. Neither this Agreement nor any memorandum of the terms hereof shall be recorded or otherwise placed of public record. 12.16 Force Majeure. The term "Force Majeure" shall mean strikes, lockouts, unusual weather, labor disputes, acts of God, inability to obtain labor or materials or reasonable substitutes therefor, governmental restrictions, governmental regulations, governmental controls, enemy or hostile government action, civil commotion, fire or other casualty, or a governmental entity failing to grant or rejecting an approval that is required to construct the Project in substantial compliance with Project Plans. In order to claim relief from a Force Majeure, a party must immediately provide written notice to the other party that describes the Force Majeure at issue and the date the Force Majeure first occurred. If a party is unable to perform an obligation due to Force Majeure, then that party shall be excused from performance for the period of the Force Majeure event, but not to extend ninety (90) days from the date the Force Majeure condition first occurred. Any obligation which can be satisfied by the payment of money, and other sums due herein, shall not be subject to or excused by Force Majeure. 12.17 Compliance With Laws. All of the Commission's obligations under this Agreement shall comply with all legal and statutory requirements. 12.18 Not an Offer. This Agreement or any draft thereof shall not be considered an offer to contract and shall not be binding against either party until it is fully executed by both the Commission and Developer. [SIGNATURES ON FOLLOWING PAGE] - 18 - IN WITNESS WHEREOF, the parties have executed this Development Agreement as of the date first written above. COMMISSION: JEFFERSONVILLE REDEVELOPMENT COMMISSION, an entity established pursuant to IC 36-7-14 Y Name: M o ✓ / eA()j Qt Title: 4ebr DEVELOPER: LARCroperty nvestm t, LLC Name: ! N40 Title: - 19 - EXHIBIT A-1 THE PROPERTY Exhibit A-1, Page 1 EXHIBIT A-2 GENERAL DEPICTION OF PROPERTY AND GENERAL UTILITY EASEMENT Exhibit A-2, Page I EXHIBIT B SITE PLAN Exhibit B Mfi EXHIBIT A-1 THE PROPERTY Exhibit A-1, Page 1 suRu£roR's REealzr In accordance with TTt/o 865, Article 1, Chapter 12, Sections 1 through 29 of the Indiana Administrative code, the following observations and opinions are submitted regarding the various uncertainties in the locations of the lines and comers established on this survey as a result of, A. Availability and condition of reference monuments,, B, Occupation or possession lines. C. Clarity or ambiguity of the record description used and of odioiners descript(ons and the relationship of the lines of the subject tract with adjoid, lines. D. The relative positional accuracy of the measurements. The relative positional accuracy (due to random errors in measurement) of the comers of the !ications for a Suburban Survey (0.13 subject tract established this survey is within the speci foot plus 100 parts per million) as defined in IAC 865. This is a retracement survey. The former Maple School and properties south of the alley were surveyed proviously by this company. Monuments from those prior surveys were used with plat dimensions to establish the lines and comers of the subject tract. As a result of this above observations, it is my opinion that the ambiguities in the locations of lines and corners estoblished on this survey are as follows: Due to Availability and condition of reference manuments: 0 to O.3 feet. Occupation or possession lines: none. Due to Clarity or ambiguity of the record description used and of adjoiners descrlptlons and the relationship of the lines of the subiect tract with adjoiners lines none, but several could not be found or were not provided to this surveyor. O.E,FGE{Lf17T?jY OF TRACT sNOWN Wing oil of Lots 108, 139 and 140 and a 10 foot alley between said Lots 106 and 140, in the City of Jeffersonville, Clark County, Indiana and being further described as follows: Beginning at a steel pin on the southem most Intersection of Mulberry and West Maple Streets in said City, Thence S.31'20'41£., along the southwestern Right—of—Way line of said Mulberry Street, 223 feet to the north corner of said Lot 139, THE TRUE PLACE OF BEGINNING: Thence continuing S 31'2041"E., along said Right—of—Way line, 413.11 feet to a "NAG' nail on the eastern most comer of said Lot 108,• Thence S 62'54'19" W., along the south line of said Lot, being the north line of a 10 foot wide allay, 1J1.61 feet to o steel pin on the southern most comer of said Lot; Thence N 31'20'41" W., along the northeastern line of another 10 foot wide alley, 358.54 feet to a steel pin on the western most comer of said Lot 139; Thence N 55'24'44' southeastern neofanother a0 ffoot hnorthwestern the wide alley121foot ine ot saTHE id LTRUE ot 3PLACE OF BEGINNING. Containing 1.06 acres and being subject to oil easements of record. Notes: (1) Title examination may reveal other easements and/or Rights of ways not shown hereon. Roadways, wetlonds, environmental issues, zoning regulations, and other items which may encumber this property were not Included in the scope of this survey. (2) All monuments shown are within 0.3 feet of flush with the surface of the ground, unless otherwise noted. (3) The basis of bearings for this survey are grid per the Indiana State Plane Coordinate System, East Zone, by G.P.S. observations. (4) No record of vacation found or provided for the allays shown. C9M4Nt Q"76 a brAwF and son Lard f,W.,PC A. ,�x,a✓eu. d�flNf�GN©F.If�t r SQ1V OIYNEX. BOARD OF PARKS & RECREATION ZdKo SfIRYFFORS AMC, I'C CITY OF JEFFERSONOLLE 6716 e, COURT AYSNUL' P O. 490X 157 9 U MERKLEY ✓ArFERSONIYILI,E, I'vo mAw 47131-0157 500 QUARTER MASTER COURT TELEPHONE 812-282-4/83 JEFFERSONWLLE, iN 47130 A'#WHL.4ArAZ-X7SA7jleAA'OS'ONNd"l' PAGE 2 OF 2 ORRTYN 9Y. KAL Stith ' N/A D1TE. 7 APRIL 2016 77776=2 ,969 �r taavmc EXHIBIT A-2 GENERAL DEPICTION OF PROPERTY Exhibit A-2, Page 1 WEST AMPLE STREET N \ LOr 179 N . 1 \ O GAS VALVE B f AREA 10'ALLEY N -'WW4'44 4 E 120 r 0 60 120 PEETL£ CONCRE7 — f 44� 2 EVDN U 1 LD7 139 y DEN07ES STEEL PIN FOUND PER x PRIOR SURVEY BY THIS COMPANY NO DEEU FOUNU '�' 2 DENOTES IRON PIPE FOUND, y o ORIGINAL ORIGIN UNKNOWN �..W DENOTES DRILL HOLE SET WZ O.RIGNAL LOT t,N,' w ^AL1 DENOTES AG4G"NAIL SET �4 I W1 OGA4P S/8"x24•STEEL PIN oa 1.06 ACRES 0 DENOTES U77EITY POLE DENOTES EIGHT POLE 0 0. a m DENOTES FLAG POLE —r — DENOTES OVERHEAD ELECTRIC W N WIRES r DENOTES OVERHEAD TELEPHONE WRES Q 10' ALLEY � SEE NOTE�4 O 1 D.R.B. 262 PACE 421 LOT 108 i I IYAR MEMORIAL S NO DEED FOUND SIDEWALK i 0J SURVEY AND IN WE CITY OF JEFFERSONWLLE,WING OF'L07S 108, IJ9, AND CLARK COUNTY,,1INDWNA AND BAND A to EING SITUATED .`\\``q"`8LA IV 10/, ON MULBERRY STREET Z. e ::Fs Q: N9 900011 E cn J. David R. Stankenbeker, hereby declare that I have surveyed the tractof land = A= shown above and that this survey was executed according to the requirements STATE OF of Title 865, I.A.C. 1-1 through 29 to the best of my knowledge, information, and belief, and that the field work was completed on 1 April 2016. rvrrr'/O t SIU Rv Registered Land Surveyor No- 900011 Dote vrnar.ua[x rxe poww Cr moue;nor t HqW rw,w raama�aei tx�m ower awr nota¢smterr FNM®1010 Abdw!!r rwl S,n iarq Srrq»irc..PC AY,qnN mw.e MA,9[R M OaF OOCtYFM tIX[ST RLDIafN Br UR bLANfffiVBl'ffF.R & SON OXNE'R. BOARD OF PARKS & RECREA77ON L4N0 S&'RP?7JRS lNC, P.C. CITY OF JEFf'£RSONVILL£ 619 A. COURT 4VAX11A' P 0. BOX 157 X LES MERKLEY ✓E'F.''AX70NYlLL4 /NOlANA 47131-0167 500 QUARTER MASTER COURT TBLRF110NE' 91S 292-4199 FAX 8f.Z-,28.2-4f97 JEFFERSONNLLF IN 47130 IY1 )rBLANX,i'NBL'RhA4ArOSON.NF,7- PAGE 1 OF 2 ORAAN BrKALSCALE 1"= 60 FEET OATEN 7 APRIL 2016 ✓OB No. 21,969 .ar rwr a.c EXHIBIT B SITE PLAN Exhibit B *11 r : NAV IN .y. 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