HomeMy WebLinkAboutBlack Hawk Contracting/Development Co.-10/5/2015PROJECT REFUND AGREEMENT
This Project Refund Agreement (the "Agreement") is entered into as of
, 2015, by and between Black Hawk Contracting and Development Co.
("Contractor") and the City of Waterloo, Iowa ("City").
RECITALS
A. Pursuant to contracts previously entered into between the parties, Contractor
constructed homes at 919, 923 and 927 Lafayette Street, Waterloo, Iowa (the
"Project").
B. The Project is eligible for a refund of state sales tax under governing state law,
and refund of the tax paid by Contractor in connection with the Project has been
authorized.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual promises exchanged herein, and for
other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties
agree as follows:
1. City agrees to pay over to Contractor the maximum sum of $11,225.63 as a refund
of sales tax paid on Contractor's Project -related purchases, within fourteen (14) days after City
receives the refund. City will not pay Contractor any more than City itself receives from the
State of Iowa in refund.
2. This Agreement is binding upon and shall inure to the benefit of the parties and
their respective successors and assigns. This Agreement is the entire agreement between the
parties pertaining to the subject matter hereof and supersedes all prior understandings or
agreements relating to the subject matter hereof, whether oral or written, and this Agreement may
not be modified except by the mutual written agreement of both parties.
IN WITNESS WHEREOF, the parties have executed this Project Refund Agreement by
their duly authorized representatives as of the date first set forth above.
BLACK HAWK CONTRACTING AND
DEVELOPMENT CO.
CITY OF WATERLOO, IOWA
By: �� �L—�� = �� By:.
John R. ooff, President Ls Ernest G. ClMayor
Attest:
Suzy Sdhares, City Clerk