HomeMy WebLinkAboutRichard C Brown-1/24/2011AGREEMENT
This Agreement is signed and entered into by the City of Waterloo, as Grantor, and
Richard C. Brown, as Property Owner and Grantee, in connection with a Quit Claim Deed dated
January 6, 2003, and filed for record July 23, 2003, as Document No. 2004-02497.
WHEREAS, Richard C. Brown is the owner of certain real estate located in the
southwesterly comer of West 11th and Jefferson Streets, which real estate is legally described
as follows:
A part of Lot 1 in Block 43 in the Original Plat on the West Side of the Cedar River in the
City of Waterloo, Black Hawk County, Iowa described as follows:
Beginning at the Northwesterly corner of said Lot 1; thence S40°51W W, 141.1 feet
along the Northwesterly line of said Lot 1; thence S48°53'E, 44.0 feet along the
Southwesterly line of said Lot 1; thence N43°58'A'E, 15.5 feet; thence N47°37'/2 E, 98.7
feet; thence N 42°15'E, 28.6 feet; thence N49°571/2W, 57.2 feet to the point of
beginning;
AND
WHEREAS, Richard C. Brown is willing and able to construct or cause to be constructed
a new commercial building on the above described real estate;
AND
WHEREAS, the City of Waterloo had previously sold the property to Richard C. Brown
- ..----for-the-purpose-of-development;
AND
WHEREAS, the City of Waterloo values the development and redevelopment of the
Downtown Waterloo TIF District.
NOW, THEREFORE, the City of Waterloo and Richard C. Brown do hereby agree that
the conditions contained on the above referenced Quit Claim Deed are hereby amended to
allow for a Principal Permitted Use to be constructed on the above described real estate within
six (6) months of the approval of this Agreement, with said construction then releasing Richard
C. Brown from the reversion clause stated in the conditions contained on the recorded Quit
Claim Deed.
The City of Waterloo waives any reversion of the above described real estate which may
have occurred in the past, retaining and reserving only the right to reversion if the Principal
Permitted Use is not constructed on the above described real estate within six (6) months of this
Agreement The City of Waterloo agrees to execute a Quit Claim Deed to Richard C. Brown, or
any subsequent property owner of the above described real estate, upon the construction of the
Principal Permitted Use, in order to release any possible claim of reversion of the above
described real estate to the City of Waterloo.
This Agreement shall inure to the benefit of and be binding upon the successors and
assigns of bath parties.
The City of Waterloo
BY:
west G. ark
Mayor
1111111 li`91FI111E0 III_ 0 INDoc ID 004070000003 Type GEN
Kind AGREEMENT
Recorded: 03/02/2010 at 01:21:03 PM
Fee Amt: $19.00 Page 1 of 3
Black Hawk County Iowa
JUDITH A MCCARTHY RECORDER
F1182 i0_00016272
AGREEMENT
Recorder's Cover Sheet
Preparer Information:
Larry L. Anfinson
Anfinson & Luce, P.L.C.
726 W. 4th Street
Waterloo, IA 50702
(319) 235-9507
Taxpayer Information:
Amir Husidic
4239 E. Parkroad, Unit #3
Cedar Falls, IA 50613
Return Address
Anfinson & Luce, P.L.C.
726 W. 4a' Street
Waterloo, IA 50702
Grantor:
City of Waterloo
Grantee:
Richard C. Brown
Legal Description: See Page 1 of Agreement.
Document or instrument number if applicable:
f (Q.QD
y,'1.91Q �
Cla.CO}
Return To: Larry L. Anfinson, 726 West Fourth Street, Waterloo, IA 50702, (319) 235-9507
Preparers Larry L. Anfinson, 726 West Fourth Street, Waterloo, IA 50702, (319) 235-9507
Taxpayer. Amir Husldic 4239 East Parkroad, Unit #3 Cedar Falls, IA 50613
QUIT CLAIM DEED
For the consideration of One ($1.00) Dollar(s) and other valuable consideration, City of Waterloo,
Iowa do hereby Quit Claim to Amir Husidic, Nermin Sabanagic, and lzet Dizdarevic all our right, title,
interest, estate, claim and demand in the following described real estate in Black Hawk County, Iowa:
A part of Lot 1 in Block 43 in the Original Plat on the West Side of the Cedar River in the City of
Waterloo, Black Hawk County, Iowa described as follows:
Beginning at the Northwesterly corner of said Lot 1; thence S40°51 %2 W, 141.1 feet along the
Northwesterly line of said Lot 1; thence S48°53' E, 44.0 feet along the Southwesterly line of said
Lot 1; thence N43° 581E E, 15.5 feet; thence N47°371/' E, 98.7 feet; thence N 42°15'E, 28.6 feet;
thence N49°571/2' W, 57.2 feet to the point of beginning.
This Quit Claim Deed is intended to release any possible claim of reversion of the above
described real estate back to the City of Waterloo, Iowa, is without additional consideration, and
is an instrument from a municipal entity, and therefore is exempt from the filing of a Declaration of
Value, Groundwater Hazard Statement, and the imposition of revenue stamps.
Each of the undersigned hereby relinquishes all rights of dower, homestead and distributive share
in and to the real estate.
Words and phrases herein, including acknowledgment hereof, shall be construed as in the
singular or plural number, and as masculine or feminine gender, according to the context.
Dated: January
2011
CITY OF'ATERLOO,10
BY:
est G. Clark Mayor
STATE OF IOWA
SS.
COUNTY OF BLACK HAWK
This instrument was acknowledged before me on Janua
the City of Waterloo, and attested by Suzy Schares, City C
ATTEST:
BY:
Suzy S6haresCity Clerk
2011, by Em atF1r� Mayor of
Public in a for '''='State of
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Page 1 of 1
Black Hawk County Parcel Map
Parcel ID:
8913-25-306-022
Deed Holders:
HUSIDIC,AMIR & SABANAGIC,NERMIN
Parcel Address:
306 W 11TH ST, WATERLOO, IA 50702
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Black Hawk County, Iowa
316 East 5th Street
Waterloo, Iowa 50703-4774
Phone: (319) 833-3002
Fax: (319) 833-3070
E-mail: auditor(aco.black-hawk.ia.us.orq
Map Disclaimer. This map does not represent a survey. No liability is assumed for the
accuracy of the data delineated herein, either expressed or implied by Black Hawk County,
the Black Hawk County Assessor or their employees. This map is compiled from official
records, including plats, surveys, recorded deeds, and contracts, and only contains
information required for local government purposes. See the recorded documents for more
detailed legal information.
http://www2.co.black-hawk°ia.us/servlet/com.esri.esrimap.Esrimap?ServiceName=bhov&... 6/28/2011
ADDENDUM
This addendum is signed and entered herein by both parties of the original letter of
conditions entered Into in 2003, by and between Richard C. Brown, property owner, and
the City of Waterloo.
Whereas, Richard C. Brown, owner of property at southwesterly comer of West 111h and
Jefferson Streets, Is willing and able to construct or cause to be constructed a new
commercial building on the site, and
Whereas, the City of Waterloo has previously sold the property to Mr. Brown for the
purpose of development, and
Whereas, the City of Waterloo values the development and redevelopment of the
Downtown Waterloo TIF District, and
Now Therefore, the City of Waterloo and Richard C. Brown do hereby agree that the
original letter of conditions of 2003 does hereby amend Nu i • = Two to allow for a
Principal Permitted Use to be constructed on the prop IMM 6 months of the
approval of this amendment. Said construction would - e ease the property owner
from the reversion clause stated in the original letter of conditions.
This addendum shall inure to the benefit of and be -binding upon the successors and
assigns of the parties.
THE CITY OF WATERLOO
ATTEST:
By:
Suzy Shares, City Clerk
By:
Earnest G. Clark, Mayor
RICHARD C. BROWN
Richard C. Brown
By: _
ANFINSON & LUCE, P.L.C.
ATTORNEYS AT LAW
LARRY L ANFINSON
TIMOTHY J. LUCE
November 11, 2010
Liberty Bank, F.S.B.
Its Successors and/or Assigns as Their Interests May Appear
4020 Bankers Blvd.
Waterloo, IA 50701
RE: Amir Husidic, Nermin Sabanagic, and Izet Dizdarevic
Abstract of Title to:
See Exhibit "A".
726 WEST FOURTH STREET
WATERLOO. IA 50702-1504
TELEPHONE: (319) 235-9507
FAX: 1319) 233-8041
EMAIL: anitawpforbin.net
I have examined the Abstract of Title to the above described real estate commencing with the Original
Entry, which Abstract was last continued by the Black Hawk County Abstract Company to July 1,
2010, at 8:00 a.m., and I find that marketable title in fee simple to the real estate described in the
Abstract is vested in:
AMIR HUSIDIC, NERMIN SABANAGIC, AND IZET DIZDAREVIC,
as joint tenants with full rights of survivorship
and not as tenants in common
subject to the following objections:
1. At Entry No. 165 of the Abstract, there is shown a Construction Mortgage from Amir
Husidic, a single person, Nermin Sabanagic, a single person, and Izet Dizdarevic, a single person, to
Liberty Bank, F S B , dated June 2, 2010, and filed for record June 18, 2010, as Document No. 2010-
23810. This Mortgage secures credit in the amount of $139,000.00 and would constitute a first and
prior lien of record against the above described premises.
2. At Entry No. 166 of the Abstract, there is shown an Assignment of Rents by Amir Husidic, a
single person, Nermin Sabanagic, a single person, and Izet Dizdarevic, a single person, to Liberty
Bank, F.S.B., dated June 2, 2010, and filed for record June 18, 2010, as Document No. 2010-23811.
This instrument assigns a security interest in and to the rents from the above described real estate as
security for the payment of a $139,000.00 Note from the three individuals to Liberty Bank, F.S.B. This
Assignment of Rents would also constitute a lien of record against the above described premises.
3. At Entry No. 167 of the Abstract, there is shown a Plat of Survey filed June 2, 2010, as
Document No. 2010-22544. A copy of this Survey is included in the Abstract and locates the boundary
lines for this property.
Liberty Bank, F.S.B.
November 11, 2010
Page Two
4. At Entry No. 147 of the Abstract, there is shown a Quit Claim Deed from the City of
Waterloo, Iowa, to Richard C. Brown, dated January 6, 2003, and filed for record July 23, 2003, as
Document No. 2004-02497. This Quit Claim Deed conveys the first part of the above described real
estate, and is subject to certain conditions, including the following:
(a) That Richard C. Brown construct or cause to be constructed a legal Principal Permitted
Use and building on the property, or in conjunction with other abutting lots to the property,
within two years of his acquisition of the property.
(b) In the event Richard C. Brown fails to construct or cause to be constructed such a
Principal Permitted Use and building on the property, or in conjunction with other abutting lots
to the property, the property will revert back to the City of Waterloo's possession.
(c) If such reversion occurs; Richard C. Brown will forfeit costs associated with recording
and publication of the transfer to the City of Waterloo and be reimbursed $7,250.00. Richard
C. Brown agrees to sign all necessary documents for said reversion.
At Entry No. 162 of the Abstract, there is shown an Agreement between the City of Waterloo with
Richard C. Brown, filed March 2, 2010, as Document No. 2010-16272. This Agreement states that
with regard to Lot No. 1 of the above described premises, the parties agree that the conditions
contained on the above referenced Quit Claim Deed are amended to allow for a Principal Permitted
Use to be constructed within six months of the approval of this Agreement, with said construction then
releasing Richard C. Brown from the reversion clause stated in the conditions contained in the recorded
Quit Claim Deed. The City of Waterloo waived any reversion that may have occurred in the past,
retaining and reserving only the right to reversion if the Principal Permitted Use is not constructed
within six months of the filing of this Agreement. That date would be September 2, 2010.
This same Agreement was apparently refiled on May 19, 2010, as Document No. 2010-21613. This
title examiner believes that a building is now being constructed on these premises and that the City of
Waterloo should execute a Quit Claim Deed as stated in this Agreement, releasing any claim to
reversion from the current property owners.
5. At Entry No. 110 of the Abstract and At Entry No. 149 of the Abstract, it is shown that the
real estate under examination is included in the M-1 Light Industrial District under the provisions,
regulations and restrictions of City of Waterloo Zoning Ordinance 2479, filed of record on February
28th, 1969, and recorded in Miscellaneous Record Book 181, at Page 609, as amended.
This title examiner would note that the Abstractor no longer searches for zoning rules and regulations.
For the correct zoning classification, urban renewal designation, or other ordinances pertaining to the
real estate under examination, you are directed to consult the applicable Government Agency or the
City of Waterloo Zoning Administrator to make sure the above mentioned are up to date and all
inclusive.
Liberty Bank, F.S.B.
November 11, 2010
Page Three
At Entry No. 148 of the Abstract, there is shown the Waterloo Municipal Airport Zoning Resolution
and Ordinance filed September 13, 1957, in Miscellaneous Record Book 106, Page 495: The Abstract
indicates that the above described real estate is subject to the provisions, regulations and restrictions of
this Ordinance.
6. At Entry No. 151 of the Abstract, there is shown the City of Waterloo Urban Revitaliwition
Area Ordinance No. 3212, filed for record May 28, 1982, in Miscellaneous Record Book 245, Page
524. The Abstract indicates that the above described real estate would be subject to the rules and
regulations of this Ordinance, but the Abstract provides no further details so far as its contents.
7. At Entry No. 153 of the Abstract, there is shown the City of Waterloo Urban Revitalization
Area Ordinance No. 4493, filed for record October 16, 2001, in Miscellaneous Record Book 344, Page
426. The Abstract indicates that the above described real estate would be subject to the rules and
regulations of this Ordinance, but the Abstract provides no further details so far as its contents.
8. At Entry No. 154 of the Abstract, there is shown the Downtown Waterloo Riverfront Urban
Renewal and Redevelopment Plan, as Amended, filed August 21, 2003, as Document No. 2004-06435.
The Abstract indicates that the above described real estate would be subject to the rules and regulations
of this Plan, but the Abstract provides no further details so far as its contents.
9. At Entry No. 152 of the Abstract, there is shown City of Waterloo Zoning Ordinance No.
3805, filed August 28, 1991, in Miscellaneous Record Book 297, Page 476. This Zoning Ordinance
amends the Waterloo Zoning Ordinance No. 2479, as amended, by amending the "H -C" Highway
Corridor Overlay District. The provisions of this amendment are in addition to any other zoning
district regulations and requirements.
10. The general property taxes payable in fiscal year 2009-2010 are shown in the amount of
$776.00 and are shown as all paid. The general property taxes payable in fiscal year 2010-2011 are
shown as not yet available as to the date of the certification of this Abstract.
11. There are no special assessments or personal property taxes shown as due and owing for
the real estate under examination.
12. Our firm agrees to indemnify you and your successors in interest in the Mortgage opined
hereto, to the full extent of any loss attributable to a breach of our duty to exercise reasonable care and
skill in the examination of the title and the giving of this opinion.
In issuing this title opinion, I pass only on the title as shown in the Abstract of Title. However, since
some things do not appear on an Abstract, you should make an independent investigation about the
following: (a) the rights, if any, of all persons in possession of the property, other than the record
titleholder; (b) the boundaries, whether all structures are within those boundaries, and anything that
Liberty Bank, F.S.B.
November 11, 2010
Page Four
would be revealed by a survey; (c) unrecorded mechanic's lien claims for labor or material furnished
within the Last (90) days; (d) zoning or other ordinances relative to building, improvements, use or
access; (e) flood plain regulations, if any; and (f) whether the City or County claims any unrecorded
liens for sidewalk maintenance, weed cutting, or building demolition.
You should ascertain also that no improvements either in the form of labor or materials, which have
been placed on the premises in the last ninety days, still remain unpaid, as they would constitute liens
without being shown of record.
No report is made by the abstractor of special assessments not yet shown on the tax books of Black
Hawk County, Iowa; and therefore, no examination is made as to these. Special assessments against
any property within a municipality should be determined by checking with the City Clerk of said
municipality.
Recent Federal and State legislation places liability and responsibility on the owner of land for wells,
underground storage tanks, solid waste, radioactive waste, hazardous waste or hazardous substances,
including those substances defined to be hazardous in Title 42, United States Code Section 9601(14)
and Chapter 455B of the Code of Iowa, situated on or under their real estate. You should determine
whether any solid waste, hazardous substances, pollutants, above or below ground storage tanks,
drainage wells, landfill sites or other environmentally required conditions exist on the property. Such
conditions are not ordinarily shown in the abstract, but they may result in injunctions, fines, required
cleanup, or other remedial actions under federal, state or local law. These laws may impose liens
against the property and personal liability against the owner, even though the owner did nothing to
create the condition and acquired the property without knowing about it. This Abstract does not
contain any representations as to the presence or absence of any such items and therefore this
examiner is unable to give any opinion as to such items. You should make a diligent inquiry
regarding the presence of any such above items on the real estate under examination, and, if any such
items are situated thereon, you should ascertain its environmental impact and the cost, expense and
potential liability for the removal and disposal of such items(s).
Very truly yours,
LARRY L. ANFINSON
LLA:gaa
Title Guaranty #: 1191
STATE OF IOWA,
Black Hawk County
I do solemnly swear that the annexed copy of
1339686
NOTICE OF PUBLIC HEARING TO WHOM IT
notice was published in the WATERLOO/CEDAR FALLS COURIER -,
a daily newspaper printed in WATERLOO,
Black Hawk County, Iowa, for 1 issues
commencing on 01/20/2011, in theissuesof
01/20/2011
of said newspaper, and that the annexed rate of
advertising is the regular legal rate of said
newspaper, and that the following is a correct
bill for publishing said notice.
Printer's Bill $15.62
Subscribed and sw
95 day o
y Pub is
Received of
isd
LLJ,/LJ i
,n P��
[r > d COMM J o1ri NO. 761976
O � P
to before me this
the sum of Dollars
in full for publication of the above invoice.
Notary Seal:
NOTICE OF PUBLIC HEARING
TO WHOM IT MAY CONCERN:
Notice is hereby given that on the 24th
day of January, 2011, at 5:30 p.m., in the
Council Chambers in the City Hall in the
City of Waterloo, Iowa, a public hearing
will be held by the Council of the City of
Waterloo, Iowa, on the execution of a
Quit Claim Deed to Amir Husidic, Nermin
Sabanagic, and Izet Dizdarevic for prop-
erty generally located at the southwest-
erly corner of Jefferson and West 11th
Streets, legally described as follows:
A part of Lot 1 in Block 43 in the Original
Plat on the West Side of the Cedar River
in the City of Waterloo, Black Hawk
County, Iowa described as follows:
Beginning at the Northwesterly corner of
said Lot 1; thence S40°51WW, 141.1
feet along the Northwesterly line of said
Lot 1; thence S48°53'E, 44.0 feet along
the Southwesterly Zine of said Lot 1;
thence N43'58f'E, 15.5 feet; thence
N47°37WE, 98.7 feet; thence N 42°15'E,
28.6 feet; thence N49°57WW, 57.2 feet
to the point of beginning, all in the City of
Waterloo, Black Hawk County, Iowa.
Anyone who is interested may appear at
said time and place and be heard or may
file written objection with the City Clerk,
City Hall, Waterloo, Iowa, before the
date set for said hearing.
By order of the Council of the City of Wa-
terloo this 10th day of January, 2011.
Carol Failor
Deputy City Clerk
If Ah: ".
NCI
1FN1B1 i.
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ATERLDO E.l IOWA
A
COMMUNITY PLANNING AND DEVELOPMENT
walpriuo. Iowa 50703-783 m (31.:4) 291-1766
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CITY OF WATERLOO
Council Communication
City Council Meeting: January 10, 2011
Prepared: January 5, 2011
Dept. Head Signature: Noel Anderson, Community Planning & Development i
# of Attachments: 4
SUBJECT: Set a date of hearing for execution of a Quit Claim Deed for the described
premises generally described as the southwesterly comer of Jefferson and West 11th
Streets.
1. Submitted by: Noel Anderson, Community Planning & Development Director
FL
1!1',`,..\•0(1)11)
Recommended City Council Action: Set date of hearing, resolution approving sale and
conveyance.
Summary Statement: The City of Waterloo owned some disposal parcels as a part of the
11th Street and Highway 218 IX Interstate Substitution Program. Those disposal parcels
were sold to Mr. Richard Brown to be combined with other abutting land owned by Mr.
Brown, for development in the area. Said sale was contingent with a reversion clauses,
through the Development Agreement, to have the City paid back if no project were built
upon the site.
The land is now under development, with new auto repair shop, valued at $80,000, in
permits being recently taken out (May 12th) and construction nearing completion on the site.
The previous agreements (with addendums for time extension) requested a Quit Claim
Deed by City to erase any reversion rights if the property were built upon. With construction
underway, it is now time to execute the Quit Claim Deed as described, so the owner can
gain clear title to the land.
Expenditure Required: NA.
Source of Funds: NA
Policy Issue: Sale of Property and Economic Development within the City of Waterloo.
Alternative: None.
Background Information: The City of Waterloo typically sells property through
Development Agreements to spur new development and new taxable value within the
community for growth, jobs, land use development, tax base, sales tax growth, and for the
overall benefit and convenience of the community through new business development.
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