HomeMy WebLinkAboutIowa Heartland Habitat for Humanity-5/26/2015Prepared by: David R. Zellhoefer, City Attorney, City of Waterloo, 715 Mulberry St., Waterloo, IA 50703
(319) 291-4327
Return to preparer after recording.
RELEASE OF REVERSIONARY RIGHTS
WHEREAS, on or about the 20th day of February, 2006, the City of Waterloo, Iowa ("City") and
Iowa Heartland Habitat for Humanity ("Developer") entered into a certain Development Agreement (the
"Agreement"), filed April 10, 2006, as Doc. No. 2006-24421, concerning property commonly known as
334 Irving Street, and legally described as:
Robert Robinsons Subdivision of the East Half of the West Half of
Lots Nos. 1 and 2 of Hardy and Virdens plat of the South East
Quarter of Sec 24 T 89 North of R 13 West of the 5th P M N 40 Ft
Lot 10
and sometimes legally described as:
The North 40 feet of even width of Lot No. 10 in Robert Robinson's Sub -division
of the East one half of Lot No. One (1) and the West one half of Lot No. Two
(2) in Hardy and Virden's Plat of the Southeast Quarter (SE %) of Section No.
Twenty-four (24) in Township No. Eighty-nine (89) North, Range No.
Thirteen (13), West of the Fifth Principal Meridian in the City of Waterloo,
Black Hawk County, Iowa, and
WHEREAS, City also prepared an Agreement described in Resolution 2013-299 which was
recorded in the Black Hawk County Recorder's Office as Doc. No. 2014-20420, said Development
Agreement was not executed or recorded, conveying property commonly known as 332 Irving Street,
Waterloo, Iowa, and legally described as:
The South 20 feet of Lot No. 10 and all of Lot No. 11, except the South
41 feet thereof, in Robert Robinsons Subdivision of the East Half of
The West half of Lots Nos. 1 and 2 of Hardy and Virdens Plat of the
Southeast Quarter of Section 24, Township 89 North of Range 13
West of the 5th P.M. in Black Hawk County, Iowa, and
WHEREAS, the Agreements provided for a right of reversion or repurchase if the Developer
failed to take timely action to develop the property on the terms set forth in the Agreements; and
WHEREAS, Developer has satisfied the conditions for extinguishment of City's reversionary or
repurchase rights as to the properties.
NOW, THEREFORE, City does hereby release and relinquish all rights of reversion, repurchase or
similar rights, arising form or in connection with the agreements as such rights relate to real property
now legally described as cited above.
Dated this clay of May, 2015.
CITY OF WJ TERLOO, IOWA
By:
Attes
STATE OF IOWA, BLACK HAWK COUNTY,ss:
ayor
Suzy Sc ares, City Clerk
This record was acknowledged before me on the �� day of
Ernest G. Clark and Suzy Schares, Mayor and City Clerk, respectively, of the City of Waterloo, Iowa.
, 2015, by
NANCY HIGBY
COMMISSION NO.788229
MY CO AMI&SION,EXPIRES
Notary Public in an rr the Iowa.
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