HomeMy WebLinkAboutWaterloo Expo Services Corp-8/22/2011AMENDMENT TO PUBLIC EXPO MANAGEMENT AGREEMENT
This Amendment to Public Expo Management Agreement (the "Amendment") is entered
into as ofU 'ils* „', 2011, by and between the City of Waterloo, Iowa ("City") and
Waterloo Expoervices Corp. ("WESCO").
RECITALS
A. City and WESCO are parties to that certain Public Expo Management Agreement
(the "Agreement") dated as of April 23, 2009.
B. The Agreement includes provisions relating to a "public market" building and
surrounding land located on the area identified in the Agreement as the "Expo
Property." Due to changed circumstances, the parties desire to amend the
Agreement on the terms set forth herein to transfer certain responsibilities for the
public market building and land to City.
AGREEMENT
NOW, THERFORE, in consideration of the premises and other consideration, the receipt
and sufficiency of which is acknowledged, the parties hereby agree as follows:
1. The parties agree that the public market building and appurtenant grounds
(collectively defined below as the "Public Market Property") shall, for the duration of this
Amendment, be removed from the operative effect of the Agreement. Said building and grounds
are comprised, more or less, of the real property generally described as Lots 4-7 and abutting
alley in Block 15, Original Plat on the West Side of the Cedar River, City of Waterloo (the
"Public Market Property"). The Public Market Property has not been surveyed, and in the spirit
of cooperation and mutual benefit that each party will derive from their respective contributions
to the success of the public market and exposition area located on the Expo Property, the parties
acknowledge and agree that a precise demarcation of the Public Market Area is not necessary to
accomplish the purposes of this Amendment.
2. The parties agree that the rights and duties of WESCO in relation to the Public
Market Property or any part thereof are hereby suspended in their totality for the duration of this
Amendment. Provisions affecting such rights and duties include, but may not be limited to,
paragraphs 3.A, 4.A.i, 4.A.ii, and 4.B. The rights and duties of WESCO in relation to the
remainder of the Expo Property are not affected by this Amendment.
3. This Amendment shall continue in effect until terminated by the mutual written
agreement of the parties.
4. Except as modified by this Amendment, the Agreement shall continue unmodified
in full force and effect. This Amendment shall be binding on the parties and the respective
successors and assigns of each. This Amendment may be executed in one or more counterparts,
each of which shall be deemed an original and all of which, taken together, shall constitute one
and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Amendment to Public Expo
Management Agreement as of the date first set forth above.
WATERLOO EXPO SERVICES CORP. CITY OF `� ATERLOO
By: By:
Aaron B1177a, President rnest G. Clark, Mayor
Attest
Suzy Schres, City Clerk
2