HomeMy WebLinkAboutChristopher and Anthony Huff-11/7/2011FIRST AMENDMENT TO DEVELOPMENT AGREEMENT
This First Andment to Development Agreement (the "Amendment") is entered into as
of ,��iU" J/ fm "d, 2011, by and between the City of Waterloo, Iowa ("City") and Christopher
P. and Anthony L. Huff ("Owners").
RECITALS
A. Owners are parties with City to that certain Development Agreement and Minimum
Assessment Agreement dated January 11, 2010 (the "Agreement") concerning the
development of land as described in the Agreement.
B. The Minimum Assessment Agreement stated an assessment value of $182,470 for
the project and 5 years of tax rebates at 50%.
C. The original Development Agreement mistakenly stated the minimum value as
$177,470 in Exhibit B, the Minimum Assessment Agreement, and the parties desire
to correct that mistake.
NOW, THEREFORE, in consideration of the mutual promises set forth herein, the
parties hereby agree as follows:
1. The Minimum Assessment Agreement shall be amended to correct the Minimum
Assessment Agreement to match the Development Agreement with a value of
$182,470.
2. All other terms of the Agreement remain unmodified and in full force and effect.
This Amendment is binding on the parties and the respective heirs, personal
representatives, successors and assigns of each.
IN WITNESS WHEREOF, the parties have executed this First Amendment to
Development Agreement by their duly authorized representatives as of the date first set forth
above.
CITY OF WATERLOO, IOWA
By:.
Anthony L. Huff Ernest G. Clark, Mayor
Christopher P. Huff
Suzyi Schares, City Clerk