HomeMy WebLinkAboutCedar Valley Tech Works, Inc-2/18/2013AGREEMENT FOR SUBDIVISION PLATTING
tf This Agreement for Subdivision Platting (the "Agreement") is entered into as of February
2013, by and among the City of Waterloo, Iowa ("City"), Cedar Valley Tech Works, Inc.
(" VTW") and FDP WTC, L.L.C. ("FDP").
RECITALS
A. CVTW is the owner of real property described as Lot 1, TechWorks Addition,
City of Waterloo, Iowa (the "Property"), and CVTW desires to convey a portion
thereof to FDP for development purposes. The portion of the Property to be
conveyed to FDP (the "Development Property") is depicted and legally described
as set forth in the plat of survey (the "Survey") attached hereto as Exhibit "A."
B. To facilitate project financing arrangements by FDP, FDP desires that CVTW
convey the Development Property before a subdivision plat of same in
conformance with local ordinance is approved by City, and CVTW is willing to
make said conveyance as requested by FDP.
C. City is willing to approve the Survey for filing and to grant a variance to the
subdivision platting requirements on the terms set forth herein.
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. Survey. CVTW and/or FDP have submitted the Survey to City. City staff have
indicated that the Survey conforms to City requirements for plats of survey that are not
subdivision plats, City planning staff will promptly affix the customary stamp and signature to
indicate that the Survey has been reviewed by City, and thereafter City will not impede the
further processing of the Survey or its filing in any county offices.
2. Future Platting. At an appropriate future date, which the parties agree will be
before any activities are undertaken to improve the Development Property, FDP and CVTW will
coordinate and will prepare and submit to City a preliminary and final plat for the Development
Property and will cooperate with City staff to address any deficiencies or concerns. Concurrently
with any Development Property plat submitted by FDP, CVTW may submit a preliminary plat
for abutting portions of the Property owned by CVTW. The parties acknowledge that City may
require the granting or reservation of easements that appear reasonably necessary to allow for
utilities, drainage, and other infrastructure or services that will aid in development of the
TechWorks campus and that will benefit City, neighboring landowners, or the general public.
3. Ordinance Variance. City agrees that, at the earliest possible date, its city council
will grant a variance to the subdivision ordinance so that CVTW and FDP are relieved of the
necessity to satisfy subdivision platting requirements at the present time.
4. Entire Agreement: Modification. This Agreement constitutes the entire agreement
among the parties pertaining to the subject matter hereof. All exhibits hereto, if any, are hereby
incorporated into and made a part of this Agreement. This Agreement may not be modified or
amended except pursuant to a written instrument executed by all parties.
5. Binding Effect. The provisions of this Agreement shall inure to the benefit of and
be binding upon the parties hereto and their respective successors and assigns.
6. Counterparts. This Agreement may be executed in any number of counterparts,
each of which, including signed counterparts transmitted by facsimile or other electronic means,
shall be deemed an original and all of which together shall constitute one and the same
instrument.
7. Time is of the essence of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Agreement for Subdivision
Platting by their duly authorized representatives as of the date first written above.
CEDAR VALLEY TECH WORKS, INC. CITY OF WATERLOO, IOWA
By:
Steven J. Dust, President
FDP WTC, L.L.C.
By:
By:
rnest G. Clark, Mayor
Attest:r _ _
Suzy Sch es, City Clerk
Rodney Blackwell, Managing Member
2