HomeMy WebLinkAboutCedar Valley Tech Works, Inc-11/13/2012PARKING LOT AGREEMENT
This Parking Lot Agreement (the "Agreement") is entered into as of No v:a i' Z'1- .
2012, by and between the City of Waterloo, Iowa ("City") and Cedar Valley Tech Works, Inc.
("CVTW").
RECITALS
A. City operates a facility at 125 Commercial Street, Waterloo, Iowa, known as
Young Arena, and City desires to obtain the right to allow facility patrons to use
off-site parking owned by others.
B. CVTW owns real property in the vicinity of Young Arena and is willing to allow
use of its parking lot 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. License of Use. CVTW hereby grants to City, for the benefit and use of patrons
attending events held at Young Arena, a license of use for the parking lot (the "Lot") located in
the southeasterly portion of Lot 1, TechWorks Addition, near the intersection of Westfield
Avenue and Jefferson Street. The Lot may be used only for temporary, short-term parking. City
may not assign or transfer the license to any other person or entity and, without the prior written
consent of CVTW, may not use the Lot for any purpose not authorized by this Agreement.
CVTW may revoke the License at any time and for any reason upon fourteen (14) days' advance
written notice to Director, Waterloo Leisure Services, 1101 Campbell Avenue, Waterloo, IA
50701.
2. Condition and Care of Lot. The Lot is made available to City and its patrons "AS
IS", without representation or warranty as to fitness for use or otherwise. CVTW will not at any
time undertake any action to ready the Lot for use by City or its patrons. City acknowledges that it
has inspected the Lot and deemed it to be suitable for the use contemplated by this Agreement.
City will remove snow and ice from the Lot at its own cost and expense as it deems necessary for
the benefit of its patrons, and City will be responsible for cleanup and disposal of any litter left by
its patrons.
3. Restriction on Use. City acknowledges that CVTW or a third party intends to
undertake a large-scale construction and renovation project on property abutting the Lot. At no
time may the Lot be used in a way that would interfere with the project or any related staging.
4. Hold Harmless. City hereby agrees to indemnify and hold CVTW harmless with
respect to any and all liability, claims, demands, actions, causes of action, and/or damages
whatsoever, including but not limited to reasonable attorneys' fees and expenses, to any person
or property which may arise out of or are in any way connected with use of the Lot by City or its
patrons.
5. Miscellaneous Provisions. 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. Time is
of the essence of this Agreement.
IN WITNESS WHEREOF, the parties have executed this Parking Lot Agreement by
their duly authorized representatives as of the date first set forth above.
CEDAR VALLEY TECH WORKS, INC.
By:
Steven J. ust, Pres dent
2
CITY OF WATERLOO, IOWA
By: : 0�
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Ernest G. Clark, Mayor
Attest:
Suzy Scharr s, Clerk