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HomeMy WebLinkAboutUniversity of Iowa Community Credit Union-3/9/2015To: Nancy Higby, City Clerks From: Tim Andera, Planning and Zoning RE: Encroachment Agreement — University of Iowa Community Credit Union Nancy, Enclosed is an encroachment agreement that will be heard by the City Council on March 9, 2015. Our office only received one signed copy back, therefore, if the request is approved, please route for the needed city signatures. After the document is signed, please forward the original copy back to me, as this will need to be recorded with the county recorder's office. Once I receive it back from the recorder's office, I will make a copy for our file and give you back the original. If you have y questions, please let me know. Thanks! ENCROACHMENT AGREEMENT Prepared by: Aric Schroeder, 715 Mulberry Street, Waterloo, Iowa 50703 (319) 291-4366 THIS ENCROACHMENT AGREEMENT is entered into by and between University of Iowa Community Credit Union, hereinafter "UICCU", and the City of Waterloo, Iowa, hereinafter "City" this 9441 day of March 2015. WHEREAS, UICCU is the owner of real estate commonly known as 930 Tower Park Drive, Waterloo, Iowa 50701 and legally described as Country Club Business Center Addition, Lot 2, in the City of Waterloo, Black Hawk County, Iowa, hereinafter "UICCU Property"; and WHEREAS, UICCU is proposing to build and maintain a monument sign, hereinafter "Sign" that will encroach into a platted 50' overhead electrical easement, hereinafter "Easement"; and WHEREAS, UICCU is requesting to allow a Sign within a portion of said easement as shown on the attached Exhibit "A"; and WHEREAS, the City is willing to allow said Sign to encroach into said Easement as shown on attached Exhibit "A", subject to the following agreement regarding each party's rights. THEREFORE IT IS HEREBY AGREED by and between the parties as follows: 1. UICCU hereby recognizes and reaffirms, said easement. 2. The City grants UICCU the right to place and maintain said Sign in said Easement as shown on attached Exhibit "A", subject to the rights of the City and/or any agency to which the City has granted a utility franchise to and for access over, under and upon said Easement, expressly recognizing and acknowledging that any damage that occurs to said Sign will be the sole risk and expense of UICCU and all successors or assigns, including moving or replacement expenses. In the event that the City and/or any agency to which the City has granted a utility franchise needs said Sign to be temporarily moved for access to said Easement, UICCU and all successors or assign shall move said Sign if present and able, otherwise the City of Waterloo and/or any agency to which the City has granted a utility franchise shall be authorized to move said Sign and assess any costs for moving against UICCU or any successors or assigns. 3. The term of this agreement shall be for so long as said encroachment is maintained by UICCU, or any successors or assigns, and said encroachment continues to exist, and that this agreement shall automatically terminate if said encroachment is removed (other than for temporary removal during replacement or repair). It is understood and agreed that this Agreement is appurtenant to the real estate and runs with the land. It is further understood and agreed that this agreement may be terminated by the City of Waterloo upon 60 days notice and order to permanently remove to UICCU, or any successors and assigns, and that UICCU, and any successors and assigns agree to remove said encroachment(s) prior to the end of the 60 days notice and termination of this agreement. If UICCU, or any successors and assigns fail to remove said encroachment upon termination of this agreement, UICCU, or any successors and assigns authorize the City of Waterloo to remove said encroachment and assess costs to UICCU, or any successors and assigns, or against UICCU Property. 4. UICCU, and all successors and assigns shall protect, defend, indemnify, and hold harmless the City and its successors and assigns, and its officers, elected officials, employees, and agents, and any agency to which the City has granted a utility franchise from any claim, damages, liability and expenses (including, but not limited to, reasonable attorneys fees and costs of litigation) arising out of the use or maintenance of said easement, including any damage to said encroachment(s). This covenant shall survive the termination of this Agreement.