HomeMy WebLinkAboutMAKO Waterloo Corporation-7/25/2011Prepared by Noel Anderson, City of Waterloo, City Hall, 715 Mulberry Street, Waterloo, Iowa 50703 phone: 319-291-
4366, facsimile 319-291-4262
FOURTH AMENDMENT TO DEVELOPMENT AGREEMENT
This Fourth Amendment to Development Agreement (the "Amendment') is entered into
as of �u tx1 25i x'01 t , by and between the City of Waterloo, Iowa ("City') and MAKO
Waterloo Corporation ("Company").
RECITALS
A. This is an amendment to Original Recorded Document No. 2010-00004650.
B. Company and City are parties to that certain Development Agreement dated January
7, 2008 (the "Agreement") concerning the development of land described as set forth
on Exhibit "A" in the original development agreement, thereto (the "Property")
commonly known as the Rath Administration Building
C. Company and City desire to amend the Agreement to extend the deadlines for the
completion of certain activities.
NOW, THEREFORE, in consideration of the mutual promises set forth herein, the
parties hereby agree as follows:
1. Exhibit "C", (1) of the agreement is amended to provide that the company
completes the construction of the improvements on or before September
1, 2013.
2. That a building permit is taken out for the Improvements as set forth in
Section 2 and described in Exhibit °B° of the Development Agreement, at
least 180 days after the City Council approval the Fourth Amendment to
the Development Agreement.
3. 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 Fourth Amendment to
Development Agreement by their duly authorized representatives as of the date first set forth
above.
MAKO WATERLOO CORPORATION
By:
Bruce DeBolt, President
CITY OF WATERLOO, IOWA
By: Lsi d<l)
Ernest G. Clark, Mayor
By:,
Suzy Scha
s, City Clerk