HomeMy WebLinkAboutR & S Commercial, LLC-2/16/2015Preparer
Information: Christopher S. Wendland, PO Box 596, Waterloo, Iowa 50704 (319) 234.5701
Name Address City Phone
SECOND AMENDMENT TO DEVELOPMENT AGREEMENT
This Second Amendment to Development Agreement (the "Amendment") is
entered into as of ra_0.70 di. , 2015 by and between R & S Commercial, LLC
(the "Company") and the City of Waterloo, Iowa (the "City").
RECITALS
A. Company and City are parties to a certain Development Agreement dated
November 25, 2013 and filed July 1, 2014 as Doc. No. 2015-00064, as
subsequently amended (the "Agreement"), providing for Company's
development of certain properties on the terms set forth therein.
B. In undertaking the Project, Company has discovered additional
underground conditions on the Property that must be addressed, and City
is willing to cover the cost thereof on the terms set forth in this
Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the mutual covenants set forth herein,
the parties agree as follows:
1. City agrees to pay an amount not to exceed $3,150.00 for purposes of
removing buried concrete foundation material from one or more buildings formerly
located on the site. City will remit payment of said sum directly to the contractor
following receipt of the contractor's invoice and confirmation that the work has been
completed.
2. Except as modified herein, the Agreement shall continue unmodified in full
force and effect. Terms in this Amendment that are capitalized but not defined will
have the same meanings herein that are ascribed to them in the Agreement. The
Agreement and this Amendment shall inure to the benefit of and be binding upon the
parties and their respective successors and assigns.
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IN WITNESS WHEREOF, the parties have executed this Second Amendment to
Development Agreement by their duly authorized representatives as of the date first set
forth above.
CITY OF WATERLOO, IOWA
By: ,1".-/z✓
Ernest G. Clark, Mayor
Attests
Suzy S, hares, City Clerk
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R & S COMMERCIAL, LLC
By:
Steven J. ntomauro, Manager