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Home My WebLink AboutLiberty Bank FSB-12/5/2011ENCROACHMENT AGREEMENT Prepared by: David R. Mason, 415 Clay St., Cedar Falls, IA 50613 (319) 277-6830 THIS ENCROACHMENT AGREEMENT ("Agreement") is entered into by and between Liberty Ban K F.S.B., hereafter "Liberty Bank", and the City of Waterloo, Iowa, hereinafter "City", this day of , 2011. WHEREAS, Liberty Bank is the owner of real estate commonly known as 131 and 201 Tower Park Drive, Waterloo, Iowa 50701 and legally described in attached Exhibit "A", hereinafter "Liberty Bank Property"; and WHEREAS, Nicki Street is a dedicated street owned by the City providing access to the Liberty Bank Property from San Marnan Drive, and WHEREAS, Nicki Street has a median that divides its north and southbound lanes (the "Median"), which Median is also owned by the City; and WHEREAS, Liberty Bank is requesting to construct, use and maintain on the Median an illuminated, two-sided monument sign a maximum of eight feet high and 18 feet long with tenant panels and channel letters in a configuration similar to the design shown in attached Exhibit "B" (the "Sign"), and in the location as shown on the site plan attached as Exhibit "C"; and WHEREAS, construction and use of the Sign would include furnishing electrical power to the Median by way of an underground boring from Liberty Bank's property to the Median as shown on the site plan attached as Exhibit "C", said electrical line to be owned and maintained by MidAmerican Energy, or its successors or assigns; and WHEREAS, the City is willing to allow the construction, use and maintenance of the Sign on the Median, which constitutes an encroachment on City property, subject to the following Agreement describing the rights and obligations of each party. THEREFORE, IT IS HEREBY AGREED by the parties as follows: 1. Affirmation. Liberty Bank hereby recognizes and affirms that Nicki Street and the Median are City property. Liberty Bank claims no rights in or to the City property, or any part thereof, except as expressly granted by the City in this Agreement. 2. Grants. City grants to Liberty Bank the right to construct, use and maintain the Sign on the Median as shown on attached Exhibit "C", which Sign shall benefit Liberty Bank Property, subject to the rights of the City and/or any public or private agency to which the City has granted a utility franchise for access over, under and upon the City property. The Sign shall be centered on the width of the Median, and no part of the Sign shall be located closer than 60 feet to the back edge of curbing at the north end of the Median or 25 feet to the back edge of the curbing at the south end of the Median. If Liberty Bank chooses at any time to repair or replace the Sign, the physical footprint and height of the Sign may not be enlarged as compared to the approved dimensions, and any reduction in the size of the Sign shall automatically cause a commensurate reduction in the physical scope of the rights granted hereunder. The parties expressly acknowledge that any damage that occurs to the Sign in connection with ordinary use of the Median, the ordinary use of Nicki Street, the work to repair or improvement to Nicki Street, or the work of repair or improvement to public or utilities infrastructure located in or upon Nicki Street will be at the sole risk and expense of Liberty Bank. 3. Median Maintenance. During the term of the Agreement, Liberty Bank shall bear all responsibility for mowing the grass and otherwise maintaining the landscaping of the Median. If Liberty Bank fails to mow the grass or maintain the landscaping of the Median, the City may do so and assess any and all associated costs against Liberty Bank or the Liberty Bank Property. 4. Term of Agreement. The term of this Agreement shall be for so long as said encroachment continues to exist and is used and maintained by Liberty Bank. This Agreement shall automatically terminate if said encroachment is removed (other than for temporary removal). In the event that the City needs to have the Sign removed in order to reconfigure or redesign Nicki Street or West San Marnan Drive roadways or adjacent utilities infrastructure, then this Agreement may be terminated by the City upon 60 days' notice to Liberty Bank. Upon such notice, Liberty Bank agrees to remove said Sign prior to the end of the 60 days' notice period. If Liberty Bank fails to remove said Sign upon termination of this Agreement, Liberty Bank authorizes the City to remove said Sign and assess all costs associated with removal to Liberty Bank or against the Liberty Bank Property. It is understood and agreed that this Agreement is appurtenant to the real estate and runs with the land. 5. Indemnification. Liberty Bank shall protect, defend, indemnify and hold harmless the City, its officers, elected officials, employees, and agents from any claim, damages, liability and expenses (including, but not limited to, reasonable attorneys' fees and costs of litigation) arising out of or in any way connected to the use or maintenance of the Sign and adjacent Median, including but not limited to any damage to the Sign or any property damage or personal injury caused to any other person. This covenant shall survive the termination of the Agreement. 6. General. This Agreement is binding upon and shall inure to the benefit of the parties and the respective successors and assigns of each. This Agreement, together with any addenda or exhibits hereto, constitutes the entire agreement of the parties and supersedes all prior or contemporaneous negotiations, discussions, understandings, or agreements, whether oral or written, with respect to the subject matter hereof. This Agreement may be modified only by the mutual written agreement of the parties. 2 STATE OF IOWA ) COUNTY OF BLACK HAWK ) This instrument was acknowledged before me on 2011 by Michele H. Stevens as Vice President of Liberty Bank F.S.B. Liberty Bank F.S.B. By: ichele H. Stevens Its: Vice President ss. David R. Mason, Notary Public 3 City of Water • • , al est G. Clark Its: Mayor st: c_,(), Suzy Sch e , City Clerk STATE OF IOWA ) ) COUNTY OF BLACK HAWK ) ss. This instrument was acknowledged before me on this G day of oma- , 2011, by Ernest G. Clark and Suzy Schares as Mayor and City Clerk, respectively, of the City of Waterloo. 4 EXHI&IT A Parcel 1: That part of Tract A, Tower Park, Waterloo, Black Hawk County, Iowa, described as follows: Commencing at the Northwest corner of Northeast Quarter of the Northeast Quarter (NE1/4 NE1/4) of Section Nine (9), Township Eighty-eight (88) North, Range Thirteen (13) West of the 5th P.M., Black Hawk County, Iowa; thence South 00 degrees 26 minutes 14 seconds East, along the West line of said Northeast Quarter of the Northeast Quarter, 63.43 feet to the South right-of-way line of West San Marnan Drive; thence South 89 degrees 03 minutes 48 seconds East, along said South right-of-way line, 1,207.00 feet to the West right-of-way line of Kimball Avenue; thence South 18 degrees 02 minutes 49 seconds East, along said West right-of-way line, 159.44 feet; thence South 00 degrees 28 minutes 22 seconds East, along said West right-of-way line, 154.27 feet; thence North 89 degrees 31 minutes 38 seconds East, along said West right-of-way line, 10.00 feet; thence South 00 degrees 28 minutes 22 seconds East, along said West right- of-way line, 29.20 feet; thence South 89 degrees 33 minutes 46 seconds West, 60.00 feet; thence Northwesterly along a curve concave Northeasterly, having a radius of 284.80 feet, a distance of 123.88 feet; thence South 00 degrees 26 minutes 14 seconds East, 176.52 feet; thence South 89 degrees 33 minutes 46 seconds West, 60.00 Feet; thence South 41 degrees 49 minutes 27 seconds West 423.78 feet to the point of beginning; thence North 45 degrees 26 minutes 14 seconds West, 324 Feet; thence North 00 degrees 26 minutes 14 seconds West, 90.51 feet; thence North 45 degrees 26 minutes 14 seconds West, 52.00 feet; thence Westerly along a curve concave Southerly, having a radius of 64.00 feet, a distance of 100.53 feet; thence North 45 degrees 26 minutes 14 seconds West, 161.00 feet; thence Northeasterly along a nontangent curve concave Southeasterly, having a radius of 665.00 feet and a long chord bearing North 67 degrees 03 minutes 47 seconds East, a distance of 522.29 feet; thence South 00 degrees 26 minutes 14 seconds East, 374.75 feet; thence North 89 degrees 31 minutes 19 seconds East, 24,75 feet; thence South 00 degrees 28 minutes 41 seconds East, 24.20 feet; thence South 89 degrees 31 minutes 19 seconds West, 24.77 feet; thence South 00 degrees 26 minutes 14 seconds East, 266.05 feet to the point of beginning. Note: The West line of the Northeast Quarter of the Northeast Quarter of Section 9, Township 88 North, Range 13 West of the 5th P.M., Black Hawk County, Iowa, is assumed to bear South 00 degrees 26 minutes 14 seconds East. Parcel 2: A parcel of land located in the Northeast Quarter of the Northeast Quarter (NEy NE%) of Section Nine (9), Township Eighty-eight (88) North, Range Thirteen (13) West of the Fifth Principal Meridian and part of Tract A, Tower Park, Waterloo, Black Hawk County, Iowa, described as follows: Beginning at the most Southerly corner of said Tract A; thence North 00 degrees 26 minutes 14 seconds West a distance of 266.05 feet; thence North 89 degrees 31 minutes 19 seconds East a distance of 24.77 feet; thence North 00 degrees 28 minutes 41 seconds West a distance of 24.20 feet; thence South 89 degrees 31 minutes 19 seconds West a distance of 24.75 feet; thence North 00 degrees 26 -minutes 14 seconds West a distance of 374.75 feet to the Southerly right-of-way line of Tower Park Drive; thence Easterly on said Southerly right-of-way on a non -tangent curve concave Southerly having a radius of 665.00 feet and a long chord bearing South 87 degrees 25 minutes 22 seconds East a distance of 69.97 feet; thence Southeasterly on a curve concave Southwesterly having a radius of 263.72 feet and long chord bearing South 62 degrees 12 minutes 15 seconds East a distance of 204.40 feet; thence Southeasterly on a curve concave Northeasterly having a radius of 284.80 feet and long chord bearing South 52 degrees 45 minutes 27 seconds East a distance of 126.83 feet; thence Southeasterly on.a curve concave Northeasterly having a radius of 284.80 feet and long chord bearing South 67 degrees 58 minutes 45 seconds East a distance of 24.50 feet; thence South 19 degrees 33 minutes 24 seconds West a distance of 51.57 feet; thence South 00 degrees 26 minutes 14 seconds East a distance of 150.31 feet; thence South 50 degrees 42 minutes 06 seconds West a distance of 449.48 feet to the point of beginning. Note: The West line of the Northeast Quarter of the Northeast Quarter of Section 9, Township 88 North, Range 13 West of the 5th P.M,, Black Hawk County, Iowa, is assumed to bear South 00 degrees 26 minutes 14 seconds East. Black Hawk County, Iowa Note: Parcel designations are for convenience of reference only and do not constitute an integral part of the legal description. 100 O O O = 1191HX3 O u2!s luawnuow pasodoid -r e 4 0 • ..k1 %/IOU J10(AA or)