HomeMy WebLinkAboutOFI Properties, LLC-6/18/2012 (2)1 1111111 111111 iii IIIII 111111111111111 IIIII 1111111111111111111 IIIII 1111111111111
Doc ID 004843380002 Type GEN
Kind AGREEMENT
Recorded: 07/06/2012 at 11:15:35 AM
Fee Amt: $12.00 Page 1 of 2
Black Hawk County Iowa
JUDITH A MCCARTHY RECORDER
F11e2013-00000340
Ci 'C a -10O
AMENDMENT TO DEVELOPMENT AGREEMENT
This A endment to -Development Agreement (the "Amendment") is entered into as of
01. , 2012, by and between the City of Waterloo, Iowa ("City") and OFI
Properties, LLC ("Company").
RECITALS
A. Company and City were parties to that certain Development Agreement dated
ryt - cl , 2011 (the "Agreement") concerning the development of land
(the "Property") described on Exhibit "A" to the Agreement.
B. Company and City desire to amend the Agreement to modify Company's option
purchase rights.
NOW, THEREFORE, in consideration of the premises and of other consideration, the
receipt and sufficiency of which is hereby acknowledged, the parties hereby agree to amend the
Agreement as follows:
1. Section 6 of the Agreement is amended to strike the first sentence thereof in its
entirety and to substitute the following sentence in its place: "Subject to the provisions of this
Section 6, Company shall have an option to purchase the real estate described on Exhibit "A-1"
attached hereto (the "Optioned Land"), which abuts the Property on the north, for the sum of
$1.00." Said Exhibit "A-1" is attached hereto and by this reference incorporated herein.
2. Except as modified herein, the Agreement shall continue unmodified in full force
and effect. The Agreement and this Amendment shall inure to the benefit of and be binding
upon the parties and their respective successors and assigns.
IN WITNESS WHEREOF, the parties have executed this Amendment to Development
Agreement as of the date first set forth above.
OFI P
•
By: /w
Donn R. Larson, Manager/President
RTIES, LLC
CITY OF WATERLOO, IOWA
By: aA.,(zL�%��" ;i
By: _ • 0_®
Suzy Scha'.-s, City Clerk
oo
EXHIBIT "A-1"
Optioned Land
Lot 11, except the North Two Hundred Forty -Five (245) feet of the East Ninety -Five (95) feet
thereof, in Northeast Industrial Park Plat No. 3, City of Waterloo, Black Hawk County, Iowa.